-mark: how you doing? mark. -lemonis: this is mark. -scott: mark. it's a pleasure. -mark: very nice to meet you. lemonis: the harper group is one of the most well-known product rep groups in new york city, and what they essentially do is they take a manufacturer's product and they basically distribute or rep it to retailers across the country. and so it's a step that's necessary to be able to get in a lot of different storefronts. are you guys ready? sam: we are ready. -mark: come on in. -sam: okay. lemonis: this is a big opportunity. i hope mark can keep an open mind during the pitch and not react to criticism. no distributor wants to take on a pain-in-the-ass partner. mark: so, our new collection is called the flora collection. -scott: okay. -mark: so from start, you know, we tried to go with a traditional look with a little modern touch to it. we went to -- we went to, like, that old-school, we were trying to think of like -- -sam: like a vintage. -mark: old vintage wallpaper. -scott: sure. -mark: so, yeah, we almost wanted to, like, bring some vibrance to it but

it has something to do with party. >> mark: mark foley, he had another scandal. that's very different from bill clinton. michelle from "the new york times" wrote a column published a couple of days ago and she said "bill clinton no longer has a place in decent society. do agree with michelle? >> ken starr spent $70 million looking into bill clinton's transgressions including talking to kathleen willie and paula jones and juanita brodrick and she was found twice not to testify truthfully, once under oath, once in a deposition. she denied having sexual contac contact. >> mark: you don't find her credible? >> it's one thing to trot her out at some press conference, when she was under oath and there were legal consequence is for lying, she testified that she did not have sexual contact. >> mark: nobody's talking about lawsuits. this is all up past the statutes of limitations except for these recent fellows. michelle goldberg's writing in "the new york times" that she believes a rapist was a two-time president of the united states. >> i don't know why she believes som

mark: i am mark barton. banks have raised billions of euros to clean up their balance sheets and they continued to be burdened with nonperforming loans holding back credit and weighing on the recovery. joining us is a chief executive a company specializing in the management of recovery of nonperforming loans. thank you for joining us. what is the state of play with italian banks dealing with nonperforming loans? >> consider that the italian market is the largest one, nonperforming loans roughly 300 , the european market at 800. quarter we the next of largea number reductions. --expect 50 billion euros, the largest one is monte dei paschi and this is only the beginning. instrumentsme good in order to reduce partially the spread. the government guarantee. mark: italy is the place of the but funds focus on italy managed to close deals. the competition is fierce. is there space for more investors to join the party? i think so. at the end of the story, a number of investors say they are looking at italian markets

mark: and i mark barton. -- and i'm mark barton. this is "bloomberg markets." bitcoin community opting not to increase transactions, setting some investors off. the shares of bitcoin have been climbing. are european tech reporting joins us. not for the fainthearted trading bitcoin. >> not at all. we have known that for some time, but these last two days have an --two days have been hyper volatile. mark: tell us what bitcoin cash is and why it has taken center stage in the last week or so? >> bitcoin cash is a new interest that worked off from the original bitcoin in august. what the community is trying to do is solve this problem of scalability. processd bitcoin to transactions faster, and process more volume in transaction. this is key to its growth. there is a community that created bigger block sizes, by that i mean he could process more transactions faster than the traditional bitcoin. and they have formed a new entity called bitcoin cash. so, i am trying to wrap my head around all of this. bitcoin cash is still bitcoin, right? it is just a different way of

mark: and i'm mark barton. this is "bloomberg markets." let's check in on the first word news with emma chandra. emma: brexit secretary david davis says there will be clarity on the brexit bill in a few weeks. speaking to business executives in berlin today, he urged them not to be passive observers of the brexit process. davis is reviewing calls to the with talk to move on, saying it is time for the e.u. to compromise. the highest level chinese invoice to north korea in two years arrived in the country's capital today to try to improve relations. tensions between the two nations have risen over beijing's tightening of sanctions as president trump calls for more pressures on the north to abandon its nuclear weapons program. it is not clear if they will meet with the leader kim jong-un. impeached. that is according to officials close to the matter in the southern african nation. the 93-year-old is the world's oldest head of state. and at least one person was killed today in confrontations between kenyan police and supportive opposition lead

after that process we will resume a mark-up tomorrow morning with the modified mark. before we proceed today i want to make a few comments. i appreciate members participation during yesterday's session. i was glad to hear everyone's initial thoughts. however a number of issues were raised that in my view weren't additional responses. first is a massive tax cut for the rich. that particular claim was repeated by almost every minority member of this committee. the problem with that is that it's just not true. j.t.c.'s analysis shouldn't be ignored all together. secondly there was the repeated claim that the bill is a massive tax hike on the middle class. to reach this conclusion members had to willfully twist the meaning of j.t.c. data specifically members sited the j.t.c. table concluding that someone in the middle class may see a tax increase under the bill while those same members completely ignored the fact that the very same data showed that the vast majority about 90% were either going to get a tax cut or at the very least be held harmless under the bill. yesterda

mark: i don't know. i think it came from the fact that my dad would always say, like i say to my kids now, you know, "if you want something, you gotta earn it," you know. "dad, i want a new pair of basketball shoes," 'cause i was a basketball junkie back then, um, still. was it about getting stuff or did you have dreams of being rich? no, it started off getting stuff, right? it's like if-- and then my dad being very clear that, "look, if you want-- those basketball shoes that you have right now, look like they're working really well. if you want a new pair, you gotta figure out how to earn it." and i think it started with that and then when it worked, it was like, "okay, i can do this." and then i can do a little bit more, i can do a little bit more. and then i realized i can sell. i sold magazines door to door. mr. levin, if i could tell you that for 75 cents a week i can improve the education and enjoyment of your family, how could you possibly say no? i would do the same thing in my dad's liquor store

mark: from london, i am mark artan with the european close. time for a look at the biggest business stories in the news right now. broadcom offering to buy qualcomm for $105 billion. the cash and stock offer represented a 28% premium to the closing price on november 2. qualcomm says it will assess the offer. in the last couple of minutes, says it is ready if qualcomm rejects the deal. european investment banks are hiring the way traders and sales people from u.s. rivals. barclays and deutsche bank are ises as much as 30% and offering bonuses in some cases. they are trying to regain market share after years of cutting costs. that is your latest bloomberg business flash. vonnie: we are joined by the bloomberg reporter behind the story. thanks for joining. how can european banks afford to do this when it has not been the easiest ride for them? >> how can they afford not to? they found cutting business sheets and firing traders has resulted in losing market share across equities and fixed income. now that they sold businesses and got their mojo ba

robert: mark, thanks a lot for being here. mark: oh, thank you. robert: well, when we come back, part two of our memories to life presentation. and now, part two of memories to light. caam executive director stephen gong is still with us, and we are now joined by dr. dawn bohulano mabalon, an associate professor of history at san francisco state university, where she teaches us history, philippine history, race and ethnicity, and food history. she's also an author and a national board member of filipino-american national historical society. welcome to the show. dawn bohulano mabalon: thank you. thank you for having me. robert: dr. mabalon, give me an idea here in terms of why you decided to be a part of this. dawn: well, i--you know, i was so fortunate to have a grandmother who was completely organized. and when my mom and her siblings cleaned out and sold her house, we found all the old super 8s in a box and organized. and she actually did--she had actually transformed them into vhs tapes in the 80s. and those had deteriorated, so i had seen some

mark: thank you. coming up, all eyes on oil today as investors weighing news out of the opec meeting in vienna. futures in focus is next. this is bloomberg. ♪ ♪ from new york, on vonnie quinn. mark: and i mark barton in the city of london. this is "bloomberg markets." futures in focus, oil gaining and opec is set to agree there production cuts -- their -- on their production cuts. it seems like there will be a review of the deal in june. is that an area of concern are not? >> i do not think at this point, you know, i think it could potentially be given the fact that gives them an out in the middle of next year, but over all there has been a muted response and the market expected this outcome, so ultimately if russia decides to play nice with opec it looks like we will see oil continue to hold at these levels. when you look at the trend from the longer-term perspective, it does appear oil is on an up trend. mark: 60. what will it take, how long will it be before we break 60 or wti? dan: i think for

mark: i am mark barton. let's check in on bloomberg's first word news. emma chandra has more from new york. emma: trump is calling north korea a danger to the entire world. the president met with the south korean president in seoul. he called on other nations to stop doing business with north korea. that theiriations next round of talks early. discussions on revamping the north american free trade agreement will begin in mexico city two days ahead of schedule. last month, negotiations -- negotiators abandoned their deadline and said they needed until the end of march. the gunman in the texas church tooting may have been able avoid a background check. the air force failed to report the attacker's 2012 domestic violence conviction to the fbi database. in the u.k., british consumers are being cautious just ahead of the crucial christmas shopping season. in. retail sales fell october. at the same time, barclays to thed sales slowing weakest in more than a year at 2.4%. global news 24 hours a day, powered by more than 2700 journalists and analysts in more tha

>> when she was under oath, mar mark. it's one thing to trot her out at some press conference, when she was under oath and there were legal consequence is for lying, she testified that she did not have sexual contact. so yes, i believe that. >> mark: nobody's talking about lawsuits. this is all up past the statutes of limitations except for these recent fellows. michelle goldberg's writing in "the new york times" that sheep believes a rapist was a two-time president of the united states. >> what i am saying is -- i don't know why she believes somebody who under oath twice denied having sexual contact with bill clinton. you can call bill clinton anything you want, we know what donald trump has bragged about. >> mark: maybe she believes her because your candidate hillaryen clinton told us that you should always believe women. u >> until the evidence shows contrary. >> mark: she didn't say anything about the evidence. >> go back and check the record. that's precisely what she said when she was asked about this time and time

park mark. what's going wrong with dortmund well it was it is a bit of a honeymoon period for bosch but i have to say i think his appointment was a bit of a rush job i mean obviously they had a falling out with total boss had a falling out. it got to the roper league final with a decent young side which kind of fitted what bruce adult were looking for but it's only been one year he didn't win the title i.x. which you should really be able to do so i'm not really sure it was that good a fit and they just felt we need someone quick he'll do his own controversial and now it's all kind of playing out the big problem with dortmund it has been for the last three seasons is the defense the defense is all over the place at times it's not the defense that a big big european club deserves and i think mats hummels is the key issue here but not so much was there he was really really important to them and i think we're only realising now once he's left because if you think about when he plays it doesn't get

mark mark: sometime today, hopefully in a few hours when ups shows up. scarlet: mark gurman, thank you so much. he is leaving to go home to pick up his phone. we will stick with apple, because analyst walter-has had a hi six -- ter they normally get 50 plus opened at 8:00 a.m.. walter joins us now on his search for the iphone x. he has a buy rating on apple with a price rating of $198 a share. it is a just telling us surprisingly strong inventory in apple stores. that does not sound like the case for verizon or at&t? thatr: they took all of inventory that they normally sent to the wireless operators and set them to the apple stores. but the variety of apple phones are sold through these operators. apple phones represent a small percentage of sales here. fewou are providing very phones to these operators stores where stores are opening up with no inventory at all -- t-mobile has zero iphones area they still opened at 8:00, but there were no iphones for sale. verizon had three, less than 18 at at&t stores, so the apple stores are getting a lot of inventory

that's a story very familiar to mark selby... what a win for mark selby... what a win for mark selby... he defended his world championship title earlier this year, to become the crucible king for the third time. it's good to see you. how are you? an interesting place, there is. it's amazing, the first time i've been here, i'm looking forward to seeing the history. shall we walk around? why not? tragically, for richard iii, his reign ended when he was killed at the battle of bosworth field in 1485. this visitor centre is built on the site where his body was discovered. in snooker‘s game of thrones, mark selby has been the world number one since february 20 15. it means everything. i'm not really one for history, when i look back at it, but when i'm in that position, being the world number one for two years, it makes me want to work harder to stay there for as long as possible. epic battles are something the world champion knows all about. absolutely superb! last year he beat ronnie o'sullivan to win the uk championship for the second time. he completed the

. ♪ mark: this is "bloomberg markets ." i'm mark barton in london. vonnie: in new york, i'm vonnie quinn. mark: these are the intraday moves for the big indices in the united states. the spot index quickly falling to the lows of the day -- details of the gop tax plan started trickling out. what exactly in the plan is causing the moves? is it dead on arrival? he's asking you to send your thoughts. look at the two other major indices as well. we are awaiting the nomination of the next fed chair a little later. we had a boe rate hike on the side of the atlantic. dow jones down .25%. 3%. nasdaq down . the bank of england raising rates today for the first time in just over a decade. >> with unemployment at 8:42 low,low -- at a 42 year the time has come to ease our foot a little off the accelerator. that will help bring inflation back towards his 2% target while still supporting jobs and growth. mark: resultantly rise as inflation eases -- rates will gradually rise as inflation eases. a dovish hike. nejra: indeed. that's exactly what it was. the boe and ma

mark: i am mark barton, live from london. let's turn to the dollar under pressure, concerns over tax reform in the u.s. taking center stage and also looking at geopolitics as trump continues his tour of asia. still with us, kit juckes. flattenedcurve has versus the last five presidents. them all.as flattened he has beaten four out of five. what is going on with this 2-10 flattening? this is a question from our ib. kit: yes, we can get flatter overtime. the yield curve predicts the economy because it inverts ahead of a recession. it also inverts at the same time of the peak. you could say the yield to her -- curve inverts at the end of the cycle. what is significant about this time, that it is so low. that is true of yields, rates on everything we know about. it is not totally surprising in that sense. what i think is worrying to people is that the economy is trundling along at a steady pace, no inflation, fed raising rates ever so slowly. it increases the fear in people's minds that the yield curve tells us something about th

mark, voter suppression is a crime. when americans suppress votes they get charged, a gop operative was convicted of sending phone calls to falsely say the democrat had already won. that was fake news and it was illegal. >> should it be this easy to game facebook? americans have a right to post most speech on the nintet. foreign espionage operatives have fewer rights. can you also answer the question, mark, that your board member ducked at her recent washington trip? tell us whether your companies targeting for russians did or didn't match the trump campaign's targeting. >> what have you learned between the oplap in targeting between the trump campaign and targeting of the russian accounts. >> targeting is broad. >> the overlap between the trump campaign and the russian accounts. >> targeting is something everyone uses. >> the trump campaign and russian accounts. you don't know or won't tell me? >> when the ads get released we'll also release the targeting for the ads. so, again, we're going to be fully transparent. >>

>> there's my big man. >> drove mark and mel crazy. yeah, we would find any opportunity to kiss. >> it's only been two week. it fools like forever. >> it does, doesn't it? >> we threw ourselves into it. everybody else was astonished. >> they go straight to tungs and everything. >> yeah. >> what do you think you're doing? >> mel rounds out the cast. in real life, mark is the tough guy when it comes to who his daughter, ella, dates. even if it's will's son. >> is magnus in contact with your daughter? >> i think it was a one-time, what's up? what's up? i think that was it. right? [ laughter ] >> i actually came to grow ups with the fact that, you know what, she's 14. she's going to have a boyfriend. i know will and viv. they're very, very nice. they're rising a fine boy. he's all good. >> yeah, yeah. >> i can still shoot will in the leg. i won't do nothing to the boy. >> oh, i'm going the be collateral damage. >> i feel for any young man that wants to date mark's daughter. >> i mean, will looked like he was afraid to look over. >> oh, no,

mark, as we've reported, backtracked on that. and facebook did even hire fact checkers to deal with the fake news problem. but a new report today in "the guardian clothe notes that face refuses the disclose the data on the checker. and the fake information is still going viral. that's from someone speaking anonymously from inside facebook. so let's take a breath and let's note the huge contrast here for mark zuckerberg. in turkey, mark found a way to eliminatecensor posts at the government's request. in china mark reportedly has his own engineers innovating new censorship tools as a kind of a menu for a government that hasn't even allowed them in the country yet. and in america, the nation where mark got his education and his network and his citizenship, and he tells us he can't even clamp down on the fake news, let alone begin the harder work on reckoning personally with how facebook was used by u.s. enemies to distort american democracy. but if you listen closely to mark zuckerberg, those contrasts are not apparent. they're not

that was designed. >> mark: talk about smart guys. you've got a&m you got stanford and all of their very interesting nuances. the velcro jerseys are a new one this year, i believe. spoon bryce love's back. if you're wondering, how is that ankle, he is back at that tail back. takes handoff here, and love able to spin it against taylor with a tackle. >> mark: he is having a tough time in there. in fact, everyone is having a tough time blocking hercules mata'afa. >> petros: mata'afa is so fast, so physical, so alive when the ball is snapped. it seems like he comes more alive on third down. >> justin: that ball batted down. pressure applied by nnamdi oguayo. >> petros: it be interesting to see what stanford does to maintain this lead. they have not had offense of rhythm in this game. you talk about ugly, coach, the pick 6 and the fumble pickoff, that's the second half. >> justin: they haven't had offense of rhythm and haven't been able to run the ball. that formation, they run a screen out of that a ton. pressuring from the edge, never ge

is not waived in the chairman's mark. the section seven would still apply under the npr and blm regs. they came forth with these best management practices and in that, they have a specific provision just on polar bears. blm can mitigate as they go forward. >> it's the issue, i guess, i would say to counsel on both sides, is that you are changing the management status. so to think we're going to get the same -- just been changed and conflicted, then you're going get the same management status. that's why we have this letter from all the scientists. they say these caribou or bear want to cozy up to a pipeline, but that is just not true. so the issue is we have indigenous people that are there who do need the support of this food source and their migratory habits are at question here. i'm just amazed that people want to throw away such an unbelievable ecological jewel of our planet. i don't even just mean our nation, i mean our planet. the fact that our government has spent millions of dollars for decades studying the habit

mark: well done. coming up tomorrow, chancellor of the exchequer philip hammond unveils the budget and we have complete coverage on bloomberg. a big day for the u.k. economy. this is bloomberg. ♪ shery: here are the top stories on the bloomberg and from around the world. u.s. stocks hit a new high, pass the 2600 high, reaching its highest level on record. will investors remain optimistic? plus, we will talk to maya macguineas, from the committee for a responsible federal budget , and why she thinks the gop tax plan is not good for fiscal health. nestle is exploring a purchase of the hanes celestial group -- hain celestial group. we did into this in the deals report. let's get a check of the markets, julie hyman is joining us. i do not know how many times i said, mark our recgh

mark: i am mark barton. time for the bloomberg business flash. squeezed bytting price more with walmart as profit margins at the discount retailer fell last quarter with target posting disappointing outlook. that was because in part of investments to lower prices and developing new brands. the biggest commercial airplane sale in airbus history. got an order from american investor indigo partners for 430 airplanes. the deal is that it and almost $15 billion. airbus and rival boeing scored its own megadeal with its -- selling 737's in a deal that he that $27 billion. -- is guided at $27 billion. the crown prince of saudi arabia plans to build up to 10 billion dollars will go to saudi electricity or renewable energy. take a look at where european markets are trading as we head to the close. the stoxx 600 down for the seventh day. this is bloomberg. ♪ mark: have a look at the european close. i am mark barton with julie hyman stocks finishing lower, down for a seventh day, the worst resins lowers since september 15. basic resources, oil and gas the

mark: i'm mark barton in london. time for the bloomberg business flash. emerson has made a bid to buy rockwell automation at $29 billion. tot represents a 30% premium rockwell's weighted average share price as of october 30. rockwell is the leading supplier control forand assembly-line operation. walmart is keeping pace with amazon as retailers headed to the crucial holiday shopping season. the world's biggest retailer delivered its best u.s. sales growth in more than eight years. same-store sales rose 2.7% in the third quarter. trumpahead, president will be heading to capitol hill to rally house republicans. ♪ mark: live from new york and london, i'm mark barton. julie: i'm julie hyman. this is bloomberg markets. emma chandra has more from new york. first time applications for employment benefits in the u.s. rose to a six-week high. that may have to do with volatility around the veterans day holiday. claims rose to 249,000. continuing claims fell by 44,000 through the lowest level since december of 1973. in zimbabwe president robert mugabe refusal to r

mark: and i'm mark barton. this is "bloomberg markets." let's check in on first word news. >> american employers added more jobs. payrolls rose 261,000 in october. the jobless rate fell 1/10 of 1% to 4.1%. that is a lowest since 2000. wages are little changed and the percentage of working-aged people fell. north carolina, military judges deliver reading the sentence of army sergeant byrd bergdahl. he pleaded guilty from walking off his post in afghanistan and was captured by the taliban and held for five years. prosecutors recommended 14 years. his lawyers asked for a dishonorable discharge, but no prison time. drug overdose deaths in the u.s. rose 21% last year, more than in the previous four years combined. that is according to preliminary federal data. the overdose crisis has been given by opioids abuse. the rate of drug abuse death has more than tripled. at in spain, the divide between the central government and the cap to land independence movement the beginning wider. supporters protested in barcelona after spanish court jailed eight

think of the mark get it is -- moment it is more of a bullish mark on japan. the dividend ratio is about half that of europe. about 27%, there's more room for japanese companies to increase payouts and european companies. -- we missedaces europe, we thought it was a chance it would never end and there might've been a chance we overemphasized the risk in , especially in holland and france and germany. thinkcandid, i still there's a big risk. real andical risks are the currency isn't as cheap as was a year and a half ago, which might provide less of a left for european companies. it is a little bit of a combination. japan is more tractor. europe has its own issues. mark: the u.k. does not seem to have the prospect of a -- referendum. where does the u.k. fit into your investment spectrum? to,on: it would be hard regardless of your feelings on brexit, it will have an economic cost. .he cost will be some recession it may be a mild one as the economy adjusts to this new paradigm. antainly i think from economic perspective and an earnings perspective, it is hard to g

what the mark does is the mark as noted by senator can't well would be s but fore subject to the new anti-base erosion rule that is the global income le low-taxed would be rule that i described in the walk-through two days ago. foe, the extraction income, is exempt from the global intangible low-taxed income rule. so income rule that within the new rule w an anti--base erosion rule, fore is subject to it again presumably on the principle that there is possibility of mobility and manipulation, whereas foge, which is extraction, are exempt as are all extraction industries. i'm assuming that that decision was based on the fact that the extraction is not in itself mobile or man iplabble. for example, there is not an oil -- you can't claim that an oil well is located in ireland, because there is not oil there. >> may i ask -- >> the senator from florida. >> may i ask mr. abraham if he would put that in everyday english. >> i'll try, senator. my colleague can feel free to chime in if i don't get this right. ut my understanding of the chairman's mark is exactly as chairman's mark is exactly

>> i was here to speak to the provisions in the chairman's mark. the administration is leaving it to work out -- >> appreciate that. thank you. >> can you assure the committee that all of the tax policy in your bill will eventually apply with the rule? >> the committee will meet its requirements. >> so is your answer to my question yes? can you assure us all of the policy will eventually comply with the bird rule? >> i'm not at liberty to make those reassurances at the moment. >> this is so unfair to the people to i represent this process and these answers. mr. barthold at a time we are nearing full employment is it more supportive of growth than temporary tax policy all else held equal? >> permanent policy the generally better in every economic environment. >> what about if permanent corporate tax rate versus a temporary tax rate cut? >> i would actually like to work with my colleague to run the analysis on it rather than wing it from the table. >> i don't think it would be winging it. the answer so that question is obviously it would deter growth

mark: live from london, i'm mark barton, with the european close five minutes away. it looked at the biggest business stories in the news. important to recall for mitsubishi. the company is recalling 84,000 garage models in the u.s. -- e models because there airbags may not reinflate. mitsubishi is not saying if there have been crashes or injuries because of the problem. shares of carillion are plunging today after the struggling british construction company warned that is in danger of breaching us debt agreements. the company says it negotiated with lenders to restructure its finances. carillion is trying to roll out a new operating model after mounting losses and write-downs on some of its projects. an analyst says the male-dominated working atmosphere was so quote offensive and degrading it drove her to seek counseling. the woman is suing the bank for sexual discrimination and accused her boss of quote flagrant misogyny. that is the latest bloomberg business flash. take a look at where european markets are trading, heading to the close. four minutes away from the

we are concerned as to whether the chairman's mark, modified mark is going to put different dates than we have now, and perhaps not the permanency. we also are concerned because we are using reconciliation as i understand the byrd rule, the permanency of certain provision is going to be very difficult toy achieve because of the byrd rule under reconciliation. mr. chairman my first concern is are we really going to give the american public a tax code that is certain. and i can't answer that because we are being asked to use a process that doesn't even give us the tax proposal that we are going to be taking up in this committee. i also, mr. barthold, want to challenge the chairman's assessment on the distributional charge of just for one moment if i might. i know that is very difficult to do a distributional chart on business income relief and i applaud your professionalism in trying to deal with that. as i understand it you didn't even attempt to do it in regards to the estate tax relief that $94 billion are not reflected in the distributional charts. is that accurate? >> that's correct

selina wang, and mark bergen of "bloomberg technology." it's not over, i'm sure we will be debating this into the future. more reaction today, tech earnings results, including tesla. elon musk says the model three is a 10 year program, even though most cars stay on the market six to seven years before getting an overhaul. a quick programming note. tune into bloomberg tv this thursday with an exclusive conversation with a goldman sachs ceo. this is bloomberg. ♪ emily: new york city could very well be home to amazon's second headquarters. according to a new study the big apple topped the most probable list. mainly due to its extensive mass transit network. the study scored cities based on outlined in their proposal. san francisco ranked washington, second. d.c. was third on the list read . earnings season is starting to wind down for tech companies and facebook reported another record quarter. apple will record third-quarter numbers thursday. here to talk about earnings is giles.cutive editor tom let's start with facebook. we've been talki

mark: i am mark barton. futures in focus. oil rising. above $57. u.s. crude stockpiles expected to resume their drop. gold climbing. joining us is the president of blue line futures, bill baruch. what will it take to push it above $60? bill: i do not think it will break through 60 quite yet. i am targeting $58,97 ahead of the opec meeting. one of the reasons i do not believe crude can push through $60 is because of positioning. are going to have to see a little bit of a cleansing, which can, after the opec meeting. once we work our way up to $ 58.97, then we can see the market retreat and then make a second attempt in the first quarter of next year. mark: still concerns russia may not tell the line when it comes to extending production cuts. do you expect everyone to fall into line and for those cuts to be extended in a week or so? bill: i believe russia is flexing their muscles right now. they want to show they are in control of what they want to do. but they are ultimately going to join forces with opec. there is no doubt this production deal will hap

currently has to territorial system like the mark provides. is that the trend in the organized world? >> yes, it is. the u.s. is very much an outlier with its worldwide system. >> we're stupid to keep the system we have, if we don't make a change, right? >> no comment. >> i think could comment we are stupid. we're not competing with the rest of the world. let's turn to senator wyden for the second round. >> thank you very much, mr. chairman. i think it's appropriate to start the second round talking about the two tax systems in america. there's one for a cop and a nurse, and they have to pay on a compulsory basis. it comes right out of their paycheck. then there's another one for the people that can hire good accountants. they are high flyers. they know how to run the system. they can pretty much pay what they want when they want to. and nothing illustrates the second system more than the carried interest loophole in the tax code today, because this essentially allows that second group to take ordinary income, call it a capital gain, and pay a

mark robinson's side trailing the multi—format series, 6—4. russia's hopes of taking part in the winter olympics at the start of next year have been dealt a blow. the world anti—doping agency say russia's anti—doping body remains noncompliant with the international code. it will increase pressure on the international olympic committee to ban the country from the games in pyeongchang. because of the nature of the accusations against them, part of the road map contains two particular conditions that they haven't fulfilled. one is to acknowledge the report from richard mclaren, indicating the people that were involved, and secondly, we would like access to the moscow laboratory to look at the samples in the electronic records that are there. neither of these two have been fulfilled. next to the tennis, and roger federer fought back to beat marin cilic in three sets and head into the semifinals with an unbeaten record from the group stage, at the end of season finals in london. it was a repeat of the wimbledon final. the swiss came from a set

>> the chairman's mark is a tax mark. it doesn't change requirements on the insurance industry. >> doesn't change that one bit, does it? completely silent on that. how about how much does the bill text specify that reimbursements to health care providers have to go down? where is that text? >> again, the chairman's mark is about the internal revenue code. there's nothing related to -- >> the point that i'm obviously trying to make here is that there are no cuts to medicaid, there are no cults ts to medica. nobody is disqualified from insurance. so what does happen? well, we have a mandate where some of our friends thought it was a good idea that the government should be able to force people to buy a product whether they want it or not, which strikes me as an outrage yo and unconstitutional. but that's the law. by the way, the government gets to dictate the terms of that product irrespective of whether people that it's a good idea. then there's a category of people, many who can't afford that product because this market is

mark? mark: we are down for a second day, worst run since october 25, led by autos, financial services and technology. it is earnings dominating afraid today. -- dominating the fray today. the focus on the bond market and trading fell by 28%. it's trading business up more than other rivals partly because of the focus on bonds. there were some high points, revenues from deals, acid gathering, boosted by fund inflows and that is credit sticking. nearly two thirds of 1%, weathering a lack of market volatility better than peers. trading in the global markets business fell 9% versus average decline of 15% on wall street and a drop of 30% at deutsche bank. today,ee in france .5%, getting a boost from its $400 folks cars, the makers of those famously expensive handbags with more accessible products. surging,rter sales beating expectations in every division except luxury goods. there you go. by .5 of 1%. been one year since the u.s. presidential election. presidentmonths since trump's victory, the

mark: i am mark barton. this is bloomberg markets. an much andra from new york. >> there is a report that in theshes a connection suspect in the texas church shooting in the church itself. it is inland -- his in-laws attended the church from time to time. about 20 were wounded and 26 were killed in the shooting. trump is slamming japan over trade. he told leaders trade with japan is neither fair nor open. he called on the japanese to build more cars in the u.s. and buy u.s.nzo abe to military equipment to create jobs in america. paul rand's injuries are worse than thought. he has five broken ribs. his alleged attacker is his next-door neighbor. it is not clear when he will return to work. president --talan a court in brussels will have to act onon whether to spain's request to arrest him. global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. vonnie: another vacancy looming at the federal reserve. build dudley will retire next year. -- his departure will widen though leadership over

i'm mark crumpton. this is bloomberg. mark: thanks a lot. coming up, theresa may outlines a new code of conduct for her party as she deals with the scandal rocking westminster. details next. later, yanis varoufakis. we are talking catalonia, the ecb, much more. this is bloomberg. ♪ live from bloomberg world headquarters in new york come i'm vonnie quinn. mark: and i mark barton. let's get to the you hate politics -- u.k. politics. today, theresa may wrote a letter outlining a new code of conduct for the tory party. may says "we believe there is a vital need to provide better support and protection for the thousands of staff working in westminster." she's asking for parliament to come together to resolve this as a matter of urgency. joining us now, flavia krause-jackson. thank you for joining us. ss this a threat to maty' majority? a slim majority. flavia: it certainly is. she needs to try to get ahead of this. there's this appearance that she's done the minimum required. she's named whatever insiders to a top job that's one of her insiders

mark: i'm mark barton. this is "bloomberg markets," on bloomberg television. socgen getting hit by the third-quarter trading slump. trading fixed income currencies and commodities followed by 28%, equity sliding 19%. the deputy chief executive spoke earlier on bloomberg about the trading slump. >> our business has been more impacted on the equity side, because on fixed income, we are pretty much in line with the global environment. and equities, we have been more impacted due to our business mix. we're much more oriented on products which are more sensitive to the very low volatility environment. we have low revenue in her equity, -19%.ur irony, becauseof most derivative products helped pioneer its equities business is traditionally a strong business. vonnie: what happened in the last few quarters is the french banks have been doing pretty strongly in trading or have different better than european peers and people have gotten used to the fact that they would do that is an average. selloff -- youe see the selloff. vonnie: it's been quite a week for french power

the jubilee year from germany marks five hundred years of the reformation. panorama portraits a look at the life and times in our marketing the luther. king. luther musical a pop oratorial case tribute to the reformer. on october thirty first fifteen seventeen martin luther published ninety five thesis questioning certain practices within the catholic church now legend has it that he nailed them to the door of the witan berg castle church where his criticism of the catholic church spread at lightning speed and is considered to be the beginning of the reformation that was exactly five hundred years ago this year two thousand and seventeen has been marked by many events including a speech by former u.s. president barack obama who traveled to germany last may to mark this important anniversary so here's a closer look now at some of the highlights. monson lose a monk and reform he was the primary figure in the emergence of the protestant churches the c.m. monks the five hundred ton of us three of the reformation which has sent people asking who exactly was marti

mark: i am mark barton. the european close" on bloomberg markets. theresa may battling to get brexit back on track, headed to sweden to a formal summit to meet with the e.u. president and her irish counterpart. ireland is the nation most exposed by britain's departure. will pose challenges to the irish economy. we have already revised our growth forecast on the next number of years down to take account for brexit. if we look at where we are for the moment, our economy will grow around 4% -- 4% this year, 3.5% next year, and we believe we could move to full employment. , i was going to ask you about theresa may but i'm going to ask you about ireland because it has set the stage in the last week. this hard border issue, this call that northern ireland will have to remain in the customs if the quarteret is to be maintained, how do you see a resolution to this part of the brexit negotiations? rupert: this is a key issue. of all the issues being discussed, i think the irish border is the most intractable as of the position of the irish government and the

this is bloomberg. ♪ ♪ mark: live from london and new york, i mark barton. vonnie: i'm vonnie quinn. this is the european close. time for our stocks of the hour. shares of realogy plunging, the lowest since august of last year. have a goo -- abigail doolittle will break it down. abigail: it is a double whammy hitting real estate. realogy is a real estate holding company, one of the biggest brokerages services companies in the world, or in the country. they have four mainlines of business. was in 70% of the revenue pie, they are doing that through the largest owner, of residential brokerage companies, including coldwell banker, corcoran. they also have a franchise services business which has a number of names, including caldwell -- coldwell. yesterday on the tax reform bill when the proposal came out that perhaps mortgage interest deductions passing $500,000 versus the current $1 million, that hit the stock yesterday. today on earnings they put up a terrible third-quarter. they missed earnings by 12%. the guidance was not great. the high-end has been slowing,

mark? up, edmundg right phelps, nobel prize-winning economist, director at columbia university's center on society. we will get his take on the fed chair nominee jerome powell. us., andrew joins he is saying that the global economy is saying that it is as good as it gets. this is bloomberg. ♪ ♪ ♪ live from bloomberg's new european headquarters in the city of london, i'm mark barton. vonnie: and in new york city, i'm vonnie quinn. this is "bloomberg markets." investors will be watching closely as fed chair nominee jerome powell begins his confirmation hearing before the senate banking committee tomorrow. joining us with a look at what is evan phelps -- ned. what do you think jerome powell is going to be asked come and how will the answer? >> i imagine he is going to be proposes to get out of the mess that is been created , not by desire, but the mess that the fed has graded has got $20 trillion of government debt. i am sure he is going to be as what he proposes to do with that, how fas

a big dealk it is that mark zuckerberg did not show up? >> i don't think the senate really wanted him to show up. if they wanted them that they would have scheduled them. this was a done deal between the senate staff and the seat euros. i think he is just speaking for himself. he probably violated a agreement. companies withth a find a day to schedule the hearing. this is totally fraudulent. >> the bottom line they could still be asking for them to come to capitol hill. walker theyith ken will probably see this for little bit more. to see these issues a little bit more clearly. probably much more involved with the day to day. >> jack dorsey was just in a of that, he was definitely not going to be in one change it is telling the is running to companies. he does not have that much time. senatorpoint that the investigations are not over. take a second to what she said today. >> the you believe any of your companies have identified with the full scope of russian active measures on your platform? yes or no? >> our investigation continues. i wou