heard in that package from john zobel, the leader of republicans in the senate, mitch mcconnell, was talking about forgetting these scandals, looking beyond them and getting back to the conservative lawmaking agenda. i think that that is now quite a hard decision to take following this latest allegation, wrote in the new york times, that the president attempted to derail an fbi investigation that related to his then recently dismissed national security adviser, and indeed affect others of his associates. that clearly carries with of obstruction of justice, the charge clearly carries with of obstruction ofjustice, the charge that brought down nixon in 197a. i think that capitol hill, white house, the washington community generally, is going to try to digestive the gravity of that potential charge. there will be a reluctance to leap to fast conclusions, given what a teflon president this is. mr trump does seem to survive extraordinary scandals, but there is a sense that there is something new now, i think. and we will know soon enough if the memo exists is, assuming it does, we will kn

the leaders of the republican party, mitch mcconnell, the speaker in the senate, we have not had a lot of republicans speak out about impeachment. a congressman has called out for an independent enquiry, he is from michigan. he seems to be a constant donald trump critic, but a lot of republicans are keeping their heads down. this is a question from david watching in milton keynes. i'm sure we have no idea if the russians recorded the meeting. i think vladimir putin was joking when he was making comments on russian television earlier today about having a transcript and giving it over to the us. i do not think the us wants that and i do not think donald trump wants his help right now. then in london is asking this, if we are talking about impeachment, what would be the next steps? impeachment would start in the house of representatives in a committee that would hold hearings and draft articles and hold a vote and it would go to the floor of the house of representatives. a simple majority and it goes to trial and senate. first it would start in a committee and would require republican

you are feuding amongst senior republicans, certainly mitch mcconnell said that they is a bit too much drama coming out of the white house and he wants to see things settle down so they can get back to work. thank you. some breaking news and that is that lloyds banking group is returning to private hands, nearly nine years after we received a government bailout, paid for by taxpayers during the financial crisis. this is according to sources. lloyds banking group is returning to private hands, nearly nine years after it received a taxpayer bailout during the financial crisis. more on that perhaps later. the party plans to scrap tuition fees, expand universal childcare and boost wages of the lowest earning workers but it has given no details about how it would pay for the plans to nationalise key utilities such as water and national rail. we are joined by the labour shadow foreign secretary emily thornberry. your brief is foreign affairs but we must touch on the manifesto launched today obviously. lots of pledges and promises, all to be paid for primarily by tax rises on the rich an

apparently has some support from mitch mcconnell the republican leader. a lot of good people, including women like fran townsend. what matter is will they be impartial? that requires a careful confirmation hearing by the senate. thank you. the republicans blocked thejudge didn't thank you. the republicans blocked the judge didn't they when he was the judge didn't they when he was the pick for president obama for the supreme court. you have been speaking to white house people over the weekend, do you think they understand where this went wrong last week? yes, i was surprised at how candid they are about how this has been a rough week for them and how they handled it badly. at one point the white house official i was talking to said there is a review of the staff and the president will look at who is performing and who is not. that suggests we could be in for a shake—up. but the striking thing was how they said, we can't use the execution the —— excuse the decision was made fast to say we couldn't have handled it better. there should have been better co—ordination and the official

majority leader mitch mcconnell, who is going to we think, maybe make some comments about the dismissal of the fbi director. he did say a few words last night, saying it was a critical role, the role of director—general. so just seeing if the senate majority leader has got anything more to say on that dramatic thus that donald trump has fired his director of the fbi. right now, let's catch up with the latest weather forecast and stav has that for us. thank you very much. it's a glorious day out there. you can see how much sunshine there is across england and wales in particular including the eastern side of england which has been grey and chilly of late. across northern and western scotland, more cloud around. thick enough to be producing the odd patch of light rain too, but elsewhere, it will be a dry end to the day. turning chilly overnight under clear skies across the south. something of a change with a weather front moving in and introducing cloud and spits and spots of rab and milder. for thursday, we'll start off on milder. for thursday, we'll start offona milder. for thursday, we'

probe into russian interference? i think paul ryan and mitch mcconnell and the senate leadership would do their best to keep the focus on issues and do their best to move the ball forward in the senate on health care reform. that will be the big issue during the july for holiday, and resteform is next up, and assured that paul ryan and mitch mcconnell and all the republican leaders in the congress desperately want to make progress on tax reform because they recognize that is an issue that for the most part unites republicans. some other issues, and for structure or health care, divides the party comes of get tax reform, better. >> i want to bring you back to some news that happened a few hours ago, north korea firing yet another missile test. i have not cap count, but this is certainly the most i remember in such a short time that we have seen from north korea than in previous years. north korea clearly sending some signal here. reallyh longer before we need to see some action from the u.s. on this? anticipate we will wait much longer before there's going to be something definitive fro

russia. kevin: earlier i spoke with senate majority leader mitch mcconnell who argued that he hopes there be "a little less drama coming from the white house." i can tell you the republican members on capitol hill are growing increasingly frustrated about the fallout and the handling of the firing of former fbi director james comey, not just the washington post report which the white house is refuting, but raises questions about how this administration is handling classified information because this perfect storm of political controversy puts at abilitysident trump's to get -- to do things on his to do list. something controversial like the border adjustment tax -- take a listen to what senator mcconnell had to say. senator mcconnell: it probably would not pass the senate. the way we are trying to go forward is the secretary of the treasury, the speaker, and myself are trying to reach an agreement on a proposal that we and -- we can all agree to start with. haven't reached that agreement yet, but we will at some point. kevin: there you have it with the controversial issue of the bor

with senate majority leader mitch mcconnell. kevin: the president is proposing a massive tax cut. seemingly, there could be some tension on visions. is there tension and what is the timeline? are you confident we could have comprehensive tax reform by the end of the year? >> it will have to be revenue neutral. we have a $21 trillion debt. kevin: a lot of money. >> yeah. amount ofremendous debt during the obama years, so we will have to be revenue neutral. i don't want to put a strict timeline on it. the last time it took several years, but we want to try to complete it this congress. we want to make america more competitive. that is what it is about. we did not have one year of 3% growth during all of obama. kevin of the most controversial : one issues of tax reform has been the border adjustment tax. i have spoken to a lot of senators who seem against it. what is the chance of this being involved in all of this? >> it probably would not pass the senate, but the way we are trying to go forward is the secretary of the treasury, the speaker, and myself are trying to reach an agreem

interference? david: the last question to you, we saw mitch mcconnell inadvertently, but we have had a lot of senators speaking out about this. how unified a message are we getting from publicans on capitol hill? megan: it is all about what they know and what they have been aft to say. john mccain obviously still raising questions. what we saw this morning was before the "new york times" released the story reporting that james comey had asked for more research. my question is -- when did they get in line with those statements? lindsey graham had not been afraid to question the president before ted cruz. will they be regretting those statements as more information comes out? james comey had his detractors, his defendants. they will be out getting their side of the story. david: all right, megan, tim, eli, thank you. tim o'brien, executive editor of "bloomberg view," megan murphy of "bloomberg businessweek," and eli lake, a columnist with "bloomberg view." coming up, former house advisor pico struck -- pete hoekstra. that is coming up. and a life conference is scheduled at 1:30 p.m. we

" someone has been a little bit more liberal. you don't have it. into mitch mcconnell. into the senate majority leader and he said when are you going to act? stephanie: there is a continuing investigation from the house and the senate intelligence committee. the problem is they are under resourced. however, it is pushing ahead. the senate intelligence committee subpoenaed records from former national security advisor mike flint whynn who red to provide documentation. many pushing ahead but people are pointed out that compared to the congressional investigation into benghazi, there are very under resourced and they need the fbi to provide them with all sorts of backup and documentation for them to proceed. tom: stephanie baker, thank you so much. guy, this is amazing. we have to worry about the bank of england, the ecb, stuff going on in finance and yet there is this whole backgdrop. this will delay any and all legislation. guy: that is the point. i have been surprised that the markets have been -- as they have. that takes you back to what's in the prcice in terms of expectations. messa

, reasons. mitch mcconnell, senate leader mitch mcconnell, has said this dead onely be doa -- arrival. he also reiterated that last week, when he was here on bloomberg television talking about the fact that it is not only republicans that are against it, but it is also conservative republicans versus the more moderate republicans on that side, and of course, if they were to come together at some point, you still have the blowback from the democrats saying that this cannot happen. it's basically is trying to tear down the great society plan from lyndon b. johnson in the 1960's, from the great society. i guess we could say, the great america. that us make america great again, from donald trump here. that is good through some of the lines that are the big number items here. supporters might support one positive thing saying the budget would be balanced within a decade, but then i expect there would be a lot of critics that would say, look at all the cuts that would happen. for example, cuts would be made to medicaid. medicaid payments, specifically to this is taking a huge hit to of repeal i

take to first word news. mark: mitch mcconnell says the gop needs a break from the barrage of controversy pouring out of the white house since president trump took office. senator mcconnell spoke to bloomberg television. >> i think we could do with less drama from the white house on a lot of things. we can focus on our agenda. which is deregulation, tax reform, repealing and replacing obamacare. is recommended judge merit garland as the f eid record. that is an about-face from the leader who blocked merit garland from the supreme court. the turkish president meets with donald trump the white house. there is friction between the two countries since the u.s. decided to arm kurdish fighters that turkey considers terrorist. he will likely renew turkey's request for the extradition of the muslim cleric. turkey blames him for last year's failed coup. the president delivers a joint statement with president are one -- the turkish president. jeremy corbyn today pledged to onse $62 billion in taxes businesses in the wealthy to pour money into health, education, and infrastructure. there

notion you seem to be hearing more often these days trump mitch mcconnell, talking about less drama from the white house, is that there is this notion about unsustainability, that some are bringing up here, this continued chaos may not be possible to maintain forever. >> there is that sense, but on the other hand, they don't know how this ends. nobody knows where this is going. it's hard to imagine all of the things that are now under investigation simply resolving themselves and going away, but it's also hard to imagine something like impeachment or resignation. neither of those seem to be in the cards. staffersking to some on the republican side of the house of representatives today, saying, does it feel like a dam has broken? does it feel like something has got to give? the person said no, that's overselling it. people are hanging on by their figure nails. i said, how does the story end? this person spent a lot of years working on the staff, he says it ends like reservoir dogs, everybody dead on the floor. >> to start here, let's talk about james comey. he is eager to speak publi

pressure out there and given how right has this create. you hear mitch mcconnell asking for less drama, but at the same time, they are not making real steps to disassociate themselves from this president by and large . you have to point to what a number of republican said on the campaign trail in a hate to always look back, but that is -- the past is our best guide. republicans, including paul ryan, and this is part of the reason donald trump won as well, cap saying over and over again that hillary clinton was careless of classified information. they took that from james comey. they said because of that, she should not be allowed to have access to classified information. is one of the reasons why they thought she was not fit for office. they are on the record saying this. they are on the record tweeting this. twitter is an amazing thing. you can find everybody's tweet and see what they said. and now, given the circumstances. he admitted to doing it this morning. what do the republicans do going forward? do they stand by previous statements, or prove it is partisan politics? charl

was able to manage that, pick somebody good, put it through the senate. mitch mcconnell helped him by changing the rules of the senate. that is a win in both the way it was managed and done. the head of a lot of these agencies at both the department of justice and the fda, epa, the ftc, they are taking directions that are very much different than the obama administration. there is a fundamental changes in the wave those industries operate, and if you for example, the if the fda changes the way in which they evaluate new drugs, that is a big deal. those kind changes are happening based on the personnel he has put in place. he is way behind even naming the people for a lot of these agencies, which creates the most agencies in part because he has not put the names in the pipeline. the people he has named are changing things in a way that are going largely unnoticed and will make real change in things that really affects people, and that is another big thing he has a college even though he may not even cite that as the things he has accomplished. when reason magazine can give realredit

voted to kill obamacare? and the director of the congressional budget office, the person who mitch mcconnell and john boehner chose to be their keeper of the economic and to hery affects of the laws, will come out fairly soon, saying, this ahca will reduce the number of people with health insurance in the country by twitter 5 million or so. that is a difficult thing to have to explain during a recess. i am puzzled as to why they did it. why they didn't let the senate go first and pick up whatever bill comes out of the senate and house? why did the house think it had to start this off? julia: i am puzzled why they did not do tax reform first. isn't there risk when the congressional budget office looks at this and does the costing? it costs the administration and what they can achieve going becauseon tax reform, they cannot get away with as financially. brad: it is hard financially. brad: to talk about this as a bill when it is past with promises it will never be seen again in the senate, and will never come back to the house. exercise, more an purely symbolic politics, that is not s

reagan. great line. we heard from mitch mcconnell -- what is going to be the ultimate version of the bill that will end of the president's desk? >> it will be completely different. basically rejected everything with the 2017 budget, in terms of increases and decreases, and came up with their own plan. we should expect the same thing again. this is not really a budget, this is a trump political rally on ipc paper. -- on a piece of paper. it is designed to rally the troops. this storyave seen before. i'm curious if you think it is going to be distasteful enough we might even see a government shutdown later this year? >> that is one of the interesting things. it is going to be so difficult for congress to deal with, they are likely going to reject almost everything the president proposed. the next time he will have a chance to get back at them is when a continuing resolution is needed to keep the government n october.ctober -- i it is likely if he doesn't get anything he wants, he will veto that and shut the government down. shutdowns a government more likely and tax reform less likely.

he keep his days and republican senators on board with him? his chairman is mitch mcconnell and to a lesser extent paul ryan and their judgment will be key into a difficult summer and fall. in a business, if you had saying untruths, he would be expected to correct them. the board would be wielding pressure on the ceo to apologize and change course. that's not happening here and it seems like there is a change in washington where there is a presumption that mitch mcconnell will do more or needs to do more. no question there is a need to do more. i was in washington last night and taking the temperature of people and i think there is a sense of disbelief that permeates over the city. which interesting is how people are still at the i can't believe stage and that includes a large coterie of republicans. they are at the point where it's time to move into action and ramp up the pressure just to hold the discipline of the office and protect their legislative agen and protect them selves heading into 28. david: thank you so mh for joining us. grab a copy of bloomberg business week tomorrow.

-- with that. coming up, senate majority leader mitch mcconnell once less drama from the white house. julia: interviews from the animal salt conference tomorrow -- annual salt conference tomorrow. from new york, this is bloomberg. ♪ julia: this is "bloomberg markets." i'm julia chatterley, with scarlet fu. scarlet: the republican agenda faces another obstacle. earlier today, kevin cirilli spoke exclusively with senate majority leader mitch mcconnell about this latest white house controversy and more. sen. mcconnell: i read washington post story and i read general mcmaster's response, which tends to refute the story. but the story. we could deal with -- rebut the story. we could do with a little less drama from the white house so we can focus on our agenda. tax reform and repealing and replacing obamacare. kevin: i want to talk about that. a lot of attention on who the president will select to nominate to replace james comey. have you spoken with the president about this? sen. mcconnell: i have. i recommended merrick garland. may surprise people, but he has a deep background in crim

leader mitch mcconnell recommends merrick garland as fbi director after mcconnell played a part in blocking president obama's attempt to confirm garland to the supreme court. mcconnell says the gop could use less drama at the white house. president trump welcomed the turkish president erdogan to the white house for their first face-to-face talks. trump and the two countries, he says, must battle the islamic state together. he also noted cooperation between both nations at the nato, u.n. and the group of 20. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. from washington i'm alisa , parenti. this is bloomberg. bloomberg technology is next. ♪ emily: i am emily chang and this is "bloomberg technology." cybersecurity stocks jumped in the wake of the global wannacry hack attack. many believe north korea is behind it. the next act. a former ceo joins us to talk about his new fund and where he is placing his bets in a bloomberg exclusive. apple hits refresh with a new line of the macbooks set for june. first to our lead. we take

speaker ryan had a margin of about 21 votes could spare and lost 20. mitch mcconnell has a margin up two vote he could lose. this will be an uphill slog to get anything through the senate because there are a handful of moderate republican senators seem less likely to budge. it is something that republicans are promised consistently, constantly in every election for the last seven years. they won the house, the senate, the white house. there is a will to get to guess. o yes. >> will end up happening to the senate --they will craft their own entirely new bill. they may take pieces of the house bill, but they do not want to own that house bill. that house bill holes terribly -- polls terribly. there is a lot of negotiating to go. it won't happen in an you weeks. the payroll's report from d.c. now. april,000 jobs in beating estimates of 190,000. unemployment down to 4.4%, that assessment 2007, almost a decade. a solid rebound from the earlier reports. goode job's number is a number. and the underemployment number came down. it was a substantial change. there is something in there for eve

few months. scarlet: mitch mcconnell said it would be a challenge to get to 52 votes. breaking news, headlines that in u.s. appeals court, the fourth circuit court has upheld a block on the trump travel ban. give us more context, why is this significant and what does it mean for the next set that step -- step? >> the latest time the courts have blocked the travel ban, trump started off implementing a travel ban that was struck by the courts and he rescinded the first executive order and crafted a new order that would comply with the courts which has been scrubbed down by multiple courts. the president has been frustrated in his efforts to block travel from certain countries in the middle east, saying that was an option for him to block terrorists from coming into the country. the courts have disagreed and said that this is not complying with the constitution and democrats who have attacked this band have called it a muslim man , but drilling his campaign promise last year where he said that he wanted a total and complete shutdown of muslims. it looks like this band will be tied up i

talk about in the program. speaking of the u.s., we will be talking to mitch mcconnell at 2 p.m. u.k. time. what larry was just saying in mind. that will be an interesting conversation. manus: when merkely met macron. europevyweights of review. it political risk still a concern for the region? we debate. ♪ anna: welcome back, everybody. ford report he plans to cut 4% of staff worldwide as the ceo faces pressure to boost profits and a lagging stock price. unidentified people briefed on the plan, the cuts will be outlined as early as this week. ford said "we haven't announced any people or comment on speculation." the ubs'largest shareholder is slashing his ownership in the swiss bank. gic is dealing at 4.5% stake with. $4 billion it has changed fundamentally since february 2008 as has the strategy and business, adding it is disappointed to have lost money in the investment. singer's elliott management has set out new demands for change. to have ann independent review of its oil unit and drop the proposal to drop its listing in australia. bhp will review and th slash the measure. man

the bill which passed by a slim margin earlier this month. senate majority leader mitch mcconnell set the status quo with obamacare is unacceptable. president trump arrives in brussels. he is there for a nato summit. terrorism and russia expected to be high on the agenda. mark is largely in a holding pattern this afternoon as investors await the minutes from the fomc's latest meeting and we expect a at 2:00 wall street time. ♪ david: let's start with health care as we await scoring from the congressional budget office later today. apple reporter joins us -- our reporter, joins us. what are you looking for in the numbers? proposed and lawmakers will play close attention and what will you be looking for? major things we will be looking for is the budget target they are trying to meet, $2 billion in savings for this health care bill to comply with the rules in the senate. if they do not meet that target, it is possible this bill would have to go back to the house and be reworked and tweeted a devoted again and we saw much trouble they had getting get through the first time -- and voted

. stephanie, how will the republican party react? yesterday, we heard from mitch mcconnell. this was before we heard about the memo. at the time, he said president trump means to focus on work instead of talking about everything else. will the republicans go hard on their president? >> i think you are seeking a different town coming out of -- i think you are seeing a different tone coming out of congress, especially from republicans. i think the issue is, this is a story that is quite easy to tell to the american public. this is a president who wanted to have the fbi drop this russia investigation, drop the investigation into flynn, and therefore, fire comey. it is an easy narrative to sell to voters. as a result, youa r are seeing an increasing number of republicans willing to go against the president, finally. >> flight to safety today is the trade. how long does that last? >> it depends on how investors view the u.s. political change, and does this change the underlying picture for the global economy? if we take a step back, clear the political life, in terms of policy implementat

department. more comments from members of congress, including mitch mcconnell, saying mueller's appointment shows the russian probe into the 2016 election continues. speaker ryan saying he welcomes a mueller's appointment as special counsel. has gotten accolades from both sides of the aisle. i want to read statements from the white house where president trump said he welcomed a mueller's appointment. and "a thorough investigation will confirm what we already know. there was no collusion between my campaign and any foreign entity. i look forward to this matter concluding quickly." this is president trump saying he was not obstructing the fbi investigation and that there is no link between his campaign and the russians. yvonne: still a big question mark for what this means for president trump. where does mueller take this investigation now? we heard from nancy, saying this may not be enough. there needs to be a special commission involved in this to get more of an independent look into the russian ties possibly coming from the trump administration. once you have a commission and t

didn't do much to change the town, the tenor of the market overall. "what'd you miss?" >> mitch mcconnell says no, he hasn't lost confidence in president trump. this comes after today's white house scramble to contain the political damage from "the washington post" report that the president revealed highly classified information to the russian foreign minister and ambassador area earlier kevin cirilli sat down with mcconnell, who weighed in on the story. sen. mcconnell: i read "the washington post" story and general mcmaster's response, which tends to rebut the story. i think we could do with a little less drama from the white house on a lot of things, so that we can focus on our agenda, which is the regulations, tax or form, repealing and replacing obamacare. kevin: i want to talk about that, but first and foremost a lot of attention right now on who the president will be electing to replace james comey. have you spoken to the president about this question mark sen. -- toell: i have -- have the president about this? have.cconnell: i i recommended merrick garland. i think it wou

is under right now. yesterday, mitch mcconnell spoke to bloomberg and was calling for "less drama." anma is in understatement -- understatement. vonnie: how free is coming out to testify? -- is comey now to testify? would you testify in his shoes? >> i do not think he would want to get into a situation where he is recounting the same event in multiple, different venues. i think he would also show some grace despite the manner of his firing which i think was shocking and embarrassing to him and the organization. i think the director would show , he would and grace recount the events accurately to the extent that we do not hear claims from the white house that his memo or conversations was barred by executive privilege. it may take a while to hear from this. mark: why would anyone want the job now as executive director? >> i had that conversation with .omeone in the doj yesterday who would want to put their hand up under these circumstances? mark: we're cutting away to house speaker paul ryan. : we have an obligation to carry out our oversight regardless of what party is in the whit

feels criticism from all sides. mitch mcconnell said he would like to see a little less drama. >> china's embattled investors look like they are winning some respite as the pboc loosens the purse strings. >> the world's biggest miner considers a sale. they may listen to the demands of its activist investor. >> this is the second hour of daybreak asia from bloomberg u.s. and asian headquarters. i am shery ahn in hong kong, just past 8:00 a.m.. betty: just after 8:00 p.m. in new york. what a day in washington. we knew that the fallout from comey was going to be big, but it certainly has engulfed many different areas, and in fact is now twisting into a whole different story line. we are going to get the latest on what is coming out from this comey fallout. as we have been noting all morning long, not a lot of reaction in the markets yet to this. until there is something very definitive, the markets are still shrugging this off. shery: i am really sorry, but i can't help but laugh when mitch mcconnell says he would like to see less drama from the white house, because i don't see t

russia's ally. mitch mcconnell tells reporters that he has not lost confidence in president trump. his comments come one day after that washington post -- "washington post" or that report. mitch mcconnell said he would like to see less drama from the white house. missed out ona the wildcard entry for the french open because of her doping ban. person,he told her in that it is his responsibility and mission to protect the game and the high standards of the game. she returned last month after a 15 month ban for testing positive for a banned substance. global news, 24 hours per day, powered by 2600 journalists and . i'msts in 120 countries mark crumpton, this is bloomberg. joe: president trump posted president erdogan at the white house today. now, let's get some more insight now from someone who knows firsthand about delicate diplomatic relationships. nicholas burns is a professor at the harvard university school of government and former under secretary of state and served as u.s. ambassador to nato and greece. and he was the director of soviet affairs under george h.w. bush. profess

" report is true. we will be speaking to mitch mcconnell at 2:00 p.m. u.k. time. no doubt, that's a subject we will broach with the senator as well. coming up, we break down easyjet earnings after the budget airline's first half earnings and revenue miss. plus, we will be speaking to the company's ceo, carolyn mccall, at 8:30 london time. this is bloomberg. the open is 15 minutes away. ♪ matt: welcome back to the european market open. 13 minutes until the start of cash trade. let's get the business flash. juliette: thank you. for the reportedly plans to cut about 10% of staff worldwide as the ceo faces escalating pressure to boost profit and a lagging stock price. according to "the wall street journal," the job cuts are expected to be outlined as early as this week. for says "we have not announced any new efficiency actions, nor do we comment on speculation." billionaire paul singer's elliott management has set out new demands to change at bhp billiton. it called on the world's largest miner to conduct a review of its oil unit and downgrade the producers in australia. bhp said it

will also be talking to mitch mcconnell at 2:00 p.m. u.k. time. now, let's get straight to the bloomberg business flash. it had asyjet says record loss in the winter travel season because the weak pound inflated expenses and the company slashed fares amid a continent wide price war. ford is reportedly planning to cut about 10% of staff worldwide as the ceo faces escorting pressure to boost profit and a lagging stock price. according to "the wall street journal," citing unidentified people, the job cuts will be outlined as early as this week. ford says it does not comment on speculation. ubs' large shareholder is slashing its ownership in the swiss bank, selling a 2.4% stake. gic says conditions have changed fundamentally since it invested in february, 2008. that is the bloomberg business flash. francine: thank you. leaders of the euro area's two biggest economies have pledged to create a new roadmap for reviving the eu. onis came as emmanuel macr left to travel to berlin for talks with german chancellor angela merkel. >> i am today in front of you happy to be able to represent

server. planning a are secret health care debate that may take place this month. mitch mcconnell held a private meeting with republican senators who will shape their own version replacement.are they will probably increase protection for people with pre-existing conditions. members of the un security council want to know more about rush peace plan for syria. they have setup a safe zone in an attempt to end the war. moscow once the u.n. to endorse the plan. in china, producer price increases flows more last month. that's a chests that the stronger chinese industrial profits may be harder to sustain. that theuggests stronger chinese industrial profits may be harder to sustain. global news, 24 hours a day. powered by our more than 2600 journalists and analysts, in more than 120 countries. i'm taylor riggs. this is bloomberg. tom has been dying for this conversation to take place. star sales have risen. i don't know if you count as a tourist. but with the terrorism story and theimmigration story, -- ceo of the company, nicolas petrovic, joins us now. is a weak pound having an impact? there

? mitch mcconnell just said democrats are getting what they have wanted for a wild. but on the democratic side, we saw calls for action. chuck schumer wanting a special senate hearing and a special counsel. marty: the most important thing this admission needs to do -- administration needs to do is find a successor to james comey and do it quickly. there is some talk that donald trump would not interview any candidates until after his european trip. i think everybody, and you heard lindsey graham before, talk about they need to appoint someone who clearly has the confidence of the senate on both sides of the i/o. democrats and republicans. frankly, donald has shown the capacity to do that on some critical appointments. not eliminates the questions on timing. vonnie: right. for now, the acting fbi director, andrew mccabe, is taking over. say it is him or anyone else. what kind of grief do they get landed with? do they continue with the staff they have, do they clean house? marty: that is a critical question. this unprecedented firing had only happened once before. that was for cause, in ter

even heard from the senate majority leader mitch mcconnell over the last couple of days saying he does not know how to get the 50 votes he needs to pass the bill through the senate. it could be a long process. there are several things on the legislative calendar that could make it take longer than expected. and some are pulling out of markets because of uncertainty. they are losing money. what happens to health care if nothing new gets past and obamacare continues, but it does begin to self-destruct? tuluse: republicans are saying it is a rescue mission for obamacare. insurers are pulling out of markets, raising premiums and adaptable's. it is falling. vonnie: thank you for your contribution. we need to go now to treasury secretary steve mnuchin. mnuchin: my number one priority is creating sustainable economic growth for all americans. the best way to achieve this is through a combination of tax reform, regulatory relief and protecting taxpayers. this also includes making some difficult decisions with respect to our budget. we are currently buried the cost of excess government commitme

legislators about the prospect of tax reform. kevin sat down with mitch mcconnell. >> the president is proposing a mass tax cut. onre could be some tension divisions. what is the timeline? could we have tax reform by the end of the year? >> it will have to be revenue neutral. we added an and norma sinnott a debt during the obama years. we will have to be revenue neutral. i don't want to put a strict timeline on it. last time it took several years. we certainly want to complete it this congress and make america more competitive. not one year, 3% growth during obama. >> i see . . . i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business. wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. the shlike a bald penguin. how do i look?

. this complicates the situation. you have to work a mitch mcconnell, senate majority leader. he will set the tone and decide what they will push forward a. there were indications last night he will move ahead with the senate's agenda likable four. jonathan: you look at the market reaction and not much of one. -- he will move ahead with the senate agenda's like before. usual,than: business as still going to be push forward to the end of the year? kevin: talk about recalibrating. i remember when a single donald trump tweet would send the markets fluttering. not much market reaction. this is will continue as usual and in the senate, a series of hearings and the banking committee is meeting, senator budget is meeting. you have business as usual. in terms of what will drive a narrative for at least the next with hours ahead of president trump's first foreign trip next week and the top russian official and his expected to later today and it the oval office, all of that will add to the entering at 1600 pennsylvania. jonathan: kevin cirilli, marty schenker, thank you. in holland, the netherl

seem to welcome this. they want to change the story from the constant drama as mitch mcconnell said the other day. the white house today did come out with a budget, talking about how they are going to move this budget on capitol hill. they are trying to change the storyline but it is difficult. this is consuming washington right now, and the world. anna: to what extent this is a distraction from the rest of the agenda is a big question. where do we expect this is going to lead? lots of people talking about whether this goes to impeachment. , a we have the appointment lot of people asking, how long is his investigation going to take? >> there's a few things we know about robert mueller. he is very respected and he is said to be a tough investigator. he has been given broad powers to investigate. it may take a wild. it looks like they will go lots of places, speak to lots of people, and the white house is not the only part of this. the hill is also investigating. they are continuing to have their investigations at the same bye and they have asked for, may 24, they've asked for comey,

about the "political drama" that mitch mcconnell put into media surrounding the white house and the leaks around it. matt: this seems like the unthinkable, kevin. the u.k. typically needs u.s. intelligence much more than vice versa. on the other hand, donald trump of the has been critical intelligence community, especially when it regards leaking things to the press. how do you see this meeting going between the two leaders? here in brussels, i can tell you that this is the geopolitical portion of president trump's first portion of the trip, focusing on religion, from the middle east to israel. ofe in brussels, at the head the nato summit, president trump and his secretary of state, rex tillerson, signaling they will raise the issue of the 28 nato counterparts not paying their fair share, as president trump puts it, in order to be part of the nato coalition. this is part of information up,ing, certain to come certain to be the second unscripted global event shaping the president's trip. the first being that manchester attack. now, of course, the politics and sharing of intelligence

. senate republicans are getting down to work on their version of obamacare. senate majority leader mitch mcconnell says action is needed now, because health markets are collapsing. democrats sent a letter to mcconnell asking him to drop repeal and replace legislation. french police are searching for three men suspected of hiding -- plotting and islamic state attack. authorities conducted a major operation at a train station. the evacuation of the station came a day after the 10th presidential election, won by macron, saying that his priority will be entering france's security. global news 24 hours a day, powered by more than 2600 journalists in more than 120 countries. is alisa parenti, this bloomberg. it is after 5:30 p.m. here in washington. we are joined by paul allen. that is where -- keys in sydney with a look at the markets. aul: good morning. we are seeing strengths on the nikkei futures out of chicago and osaka. so for asx futures, pointing down about two thirds of 1%. this is after the broader asx fell half a percent yesterday. dragged down by the banking stocks. commonwealth ba

tax reform. we have had on majority leader mitch mcconnell, the day before that kevin brady, let's talk on.t what they and we g agreed kevin brady says for a businessman, we need to invest. sen. perdue: this economy is really about to turn, but with the border adjustment tax does, the reason they are talking about that is the pay for these cuts. let's focus on what we are trying to do. they neediation tax, to be adjusted so we can compete with the rest of the world. -- allsident's agenda three of those are growth oriented. david: if you do not have a border adjusted tax, you said publicly you are against it, kenya paper the level of cuts going down to 50% at the corporate rate? sen. perdue: two things. the only reason you have to pay for it is because of the archaic rule we have in the senate and congress. what we have not talked about his potential spending cuts, tax expenditure revisions that nobody has talked about yet, and the ultimate long-term impact of growth in this economy. if you allow 10 years and look at it, the growth that will come from this is much more aligned than

. anna: and delay. mitch mcconnell talking to bloomberg. the republicans around trump want to get on with the legislative agenda, so we are waiting to see clues into how much they are still behind him with that in mind. let us put out the risk radar. manus, you have been talking about where we are in europe futures, and they point down by .5%. the msci asia-pacific is down by .3%. we have dollar-yen as well to show money. classic safe haven play. the yen is on the rise. the dollar is down, but not just today. there is an ongoing debate. how much is this about weaker data out of the u.s.? manus: we will put that point to alan higgins as well. we have a nice monitor as to how much discussion there is on impeachment. money going into gold, you have a double booster gold. the softer dollar down. the classic haven trade, bullion up for a fifth straight day. money also flowing into 10 year government bonds, so you are seeing that shift. , treasury that classic haven -- treasury, that classic haven. that would be by november. upon the ability of a rate hike drops from 96% in june to 80%. an

gives people like all right and mitch mcconnell a way to say robert mueller is a very we need tondividual, let the investigation run its course, and i have no further comment at this time. there is one republican it's very bad for, and that's donald trump. to findings tend something wrong, they tend to find charges. people do tend to get indicted and sent off to jail. i'm not suggesting any of that is a foregone conclusion in this investigation, but that is the history of it. it has an enormous burden of uncertainty for the white house here it they are now operating with this as a backdrop to every single thing they do. your: great to get perspective there, craig gordon, bloomberg executive editor. we are still waiting for that press conference to begin. just a few individuals now coming in and sitting in their seat, but we seem to be waiting on that. we will bring you that the moment it happens. this is bloomberg. ♪ julia: we are still awaiting a joint news conference any moment with president trump and the colombian president. it's the two leaders to meet face-to-face. thi

because we have an interview with mitch mcconnell joining a bloomberg daybreak america 9:00 a.m. eastern time. ♪ joe: i am joe weisenthal. "what'd you miss?" news today on indications that some of the major opec players are inclined to continue cuts, though nothing specific. if we look at this chart of technicals, oil breaking through some fibonacci levels, through its 200 day moving average. it is starting to break above those lines in april as it was falling through those things. right now it looks like things are looking good again, breaking above some levels, so perhaps we will get a situation where the technicals and fundamentals line up, and that is what macro traders love to see when you have that confluence of news and charts. royal is that a two week high. you mentioned the drivers behind that. forecastommodity price , charting 35 analyst views on oil price and where they see it headed. this is for wti, pay attention to the green of a shows the bullish sentiment. it has been climbing. income ofat the very 71% of analysts are bullish on wti. the bearish sentiment as th