. >>> currency confusion steve mnuchin said he is not concerned about short-term levels of the green back he joins a panel in an hour's time. >>> french president emanuel macron warns against a race to the bottom on taxes and regulation using a passionate davos speech to question trump's policy >> i think we need more cooperation. that was my message, that's why i believe in this new global pa pact >>> u.s. tax reform is a big deal for barclays says the bank's ceo jes staley saying yus europe will need to keep up to stay competitive >> on one level it's clearly changed or will change the dialogue around how countries are coordinating globally both in terms of how to deal with business as a function of r regulation and tax. >>> and diageo sales up. >> diageo's strength is about top-line growth and efficiency i call it the perfect blend. >>> i'm akiko fujita live in davos. we have heard from u.s. treasury secretary steve mnuchin again saying he thought his comments on the dollar were clear he said he is not concerned with the greenback levels short-term. this after the dollar fell furt

. >>> trump's team lands in davos with a clear message with treasury secretary steve mnuchin and wilbur ross telling delegates that trade war is a thought every single day but confirming that nafta talks are reopening. >>> the president of colombia, juan manuel santos joins other political leaders in warning the u.s. against protectionism >> it will hurt everybody, especially the u.s >> shares for suez plummet as the french utility firm slashes its earnings forecast. we speak to the ceo in davos later today. ♪ >>> we've got a packed show for you, live from davos today we'll be joined by james young in a bit talking about tourism over in china. he's a co-founder and chairman of the largest travel platform over in china. we'll be joined by the ceo of jll, talking about property markets lobally. the ceo of mueller maersk will join us later on as well as president of the european investment bank. we'll wrap up with the ceo of russof tomorrow you'll be joined live tomorrow when you have this panel. >> we have the panel lined up. we have the uk chancellor on the panel, larry fink will be up

reporter: steve mnuchin was right off the top, melissa. as the irs and treasury department today received new tax tables accompany the new tax code. treasury secretary steve mnuchin saying this will allow businesses and employers to withhold the correct amount of taxes so employees start seeing those tax breaks at points in february. there is though, there are some tweaks or at least some kinks that deal with this. for example, the outdated w-4 form will still be in place this year. the treasury department is instructing people to go to the irs web site to look at soon-to be-released taxed call indicator. critics say this is being rushed too quickly. the treasury secretary is saying no. >> in no way this was rushed to get this out there forepaychecks? >> absolutely not. we update the withholding tables every year. our objective to get money as quickly as we can. 90% of the people will see changes. reporter: the tax cut message was largely overshadowed today by two tweets that president trump sent out early this morning as the house was set

steve mnuchin and gary cohn want to stay the course the biggest wild card is nafta republican senators and governors have been seeking assurances from the white house that the u.s. won't withdraw at one meeting in early december, a source says senator

this could have been because steve mnuchin has no advisers or experience. stay with us. you are watching "velshi & ruhle." hey, dustin. grab a seat. woman: okay. moderator: nice to meet you. have you ever had car trouble in a place like this? (roaring of truck) yes and it was like the worst experience of my life. seven lanes of traffic and i was in the second lane. when i get into my car, i want to know that it's going to get me from point a to point b. well, then i have some good news. chevy is the only brand to receive j.d. power dependability awards for cars, trucks and suvs two years in a row. woman: wait! (laughing) i definitely feel like i'm in a dependable vehicle right now. woman 2: i want a chevy now. woman 3: i know! this time, it's his turn. you have 4.3 minutes to yourself. this calls for a taste of cheesecake. philadelphia cheesecake cups. rich, creamy cheesecake with real strawberries. find them with the refrigerated desserts. >>> welcome back to "velshi & ruhle." the trump effect is already happening at the world economic forum in davos, switzerland. joini

we're honored to be joined by the secretary of the treasury, steve mnuchin. director -- look at that, steve. they must know you. there's about 5% of this group. director of national economic counsel, gary cohn, our tax guy. our tax man. where is gary? gary, did a good job on those taxes. everybody being helped by those taxes, huh? big tax cuts. as well as a number of outstanding members of congress, representative lou barletta. he has been a friend of mine for a long time. here is another one. mike kelly. mike. i won't have you go through and over those gates. pat mehan. thank you, pat. great job you do, pat. these are like real friends of mine for a long time. representative keith rofsus. does everybody know him? keith, thank you, keith. thanks for being here, keith. a man that everybody in washington knows and so respects, bill schuster. bill? thank you, bill. representative g.t. thompson. and a person people are hearing more and more about, a real friend and spectacular man, rick saccone. [ cheers and applause ] and mrs. saccone. special people. thank you

let's take a look at the fact that was secretary steve mnuchin was talking about. the bloomberg dollar index down nearly 1%, it's worst year on record. the dollar index, its worst you last year since 2003. the point we want to make here is when we have declines, they come in clubs of twos. a two-year decline seems pretty fitting even though it is early in the year. let's take a look at the big movers of the day. ge down .2%. this on the news of the sec probe into the company. recently announced a charged related to the legacy business. texas instruments down on earnings. ual, same deal, down on earnings. united continental saying they will be matching pricing. investors clearly not liking that, mark . session, downeek marginally after four days of gains after rising yesterday to the highest levels since august 2015. what a day. what a day for u.k. jobs. the labor market displaying unexpected resilience in the three months through november. employment rose. rose.grow 102,000 the far right bar there. growth weekend to 2.4%. still lags the pace of inflation. unemploym

steve mnuchin seemed to move s strongthe u.s.' dollar policy, which has been advocated for many years. the pushback from the white house has not stopped the dollars descendentncy. the big question when it comes to today's ecb meeting, will mario draghi push back against the strong euro, which of course has continued its recent strength in 2018. what he did back in september was warned against the volatility against the currency. that started a couple of months of decline in the euro against the dollar. will we see that again? we have seen a number of hops want to takewks their foot off of the pedal. the september of course is the end of this phase of qe. qe currently at 30 billion euros. what a fascinating day it will be today. francine: japan holding onto gains after hitting a new post-brexit high yesterday. we spoke to the u.k. chancellor philip hammond about the currency's strength and britain's strategy for negotiating trade deals are after it leaves the eu. we are inmond: negotiation with the european toon and we will not be

treasury secretary steve mnuchin talked to reporters during the daily briefing. he talked about the rollout of the impact on u.s. workers. this is about 20 minutes. >> thank you very much. let me comment and say that i am pleased that i will be leading the economic delegation. we will have a large group of cabinet members traveling with us. we will get more information on that later. i would like to talk about the withholding tables. today the treasury department released new withholding guidance that will implement the tax cut. will mean thatce workers and their families will receive larger paychecks starting in february. this has been a massive project we have been working on, beginning to implement the tax plan. there is a lot of work left to be done. this historic legislation doubles the standard deduction, simplifies the filing process, lowers the rate of millions of middle income americans and their family. the irs worked around the clock to meet our important objective to work with the existing forms and. the burdenminimize on employers and hard-working ta

president trump gives the greenback a boost telling cnbc in an international exclusive that steve mnuchin was misunderstood. >> the dollar is going to get stronger and stronger. and ultimately i want to see a strong dollar. >>> but there is trouble at home as nbc confirms a report that the president ordered robert mueller fired, but backed away when the white house counsel threatened to quit. >>> i'm willem marx in london. lvh shares beat expectations for the fourth quarter as chinese shoppers buy more handbags and champagne. >>> and shares in swiss fragrance and fragrance manufacturer rise in net profit and a planned hike for its dividend >>> welcome to "street signs." we are awaiting president trump's speech later today, but the president ahead of that speech telling cnbc that he would consider rejoining the transpacific partnership speaking to joe kernen in davos, he said he was here to negotiate. >> i like bilateral because if you have a problem you terminate. when you're in with many countries like with tpp, so you have 12 if we were in, you don't have that same -- you don't have tha

steve mnuchin champions a weak dollar. lowest in was at its three years. the asian market is set to open lower as well. -- from new york, i am betty liu. president ping says that the world will be surprised, and another bump in the road for self driving cars. the tesla on auto drive hit a fire truck, sparking an inquiry. ♪ betty: quite a surprise here, aurth quarter gdp showing contraction here of 0.2% quarter on quarter. 1/10stimate was a gain of of 1%, a slight down in the prior year. expectations were that this was not going to be a great number, but contraction is a surprise here. it is the first fourth-quarter contraction for the first time since 2008, also year on year, just up 3%. gain somate was a 3.4% not good news here for south korea. yvonne: it was a banner year when it comes to exports, i guess you could blame to the strengthening of the one that there is also a nationalhow they -- holiday in october. the bank of korea upgraded this growth to 3%, so there is still a lot of good with exports still blooming those slowly, and private consumptio

maria: moments after those comments treasury secretary steve mnuchin joins me. he explained his comments about the dollar. >> my comments from the dollar had been consistent with what i said for the last year. but for quafer reason they have been am anyified in the last two days. the dollar is one of the mostly kid trading markets in the world. it's the reserve currency. people have confidence in the safety of the dollar. where the dollar is in the short term is not a concern of ours. in the long term i believe the doll sash will strengthen as a result of the u.s. economy and the growth of the economy. but where it is in the short term is not a concern of ours. in the short term a lower dollar is helpful to our strayed imbalance and has certain benefits it was a statement of fact. we support free currencies, other people intervene in currencies. the treasury puts out a currency report where we have issues with other people who have currency interventions. whether you look at it the last hour, the last day, the last week, three years, five years, it moves. maria:

sarah: thank you, secretary mnuchin. >> friday, steve mnuchin will talk about the new tax law with david rubenstein, president of washington. club of life coverage beginning at 8:25 a.m. eastern on c-span3. you can also watch live online on c-span.org, or use the free c-span radio app. ♪ >> c-span's washington journal, live every day, with news and policy issues that impact you. up friday morning, watching c-span's interview with speaker of the house paul ryan. speaker ryan: there is a majority in the senate, extremely hard to pass things like this. what i regret the most is the fact that we have yet to read by -- reach bipartisan consensus on an reform, when all of us know this is necessary. you could easily get your way out of all these problems. >> then, usa today reporter alan and the trumpess administration's approach to daca recipients. also, an executive director holly harris joins us to talk about risen and performed during the trump administration. reporter for failingn week discusses infrastructure in u.s. schools. be sure to join us for c-span's washington journal, live at 7

steve mnuchin give and donald trump take away. if you look at steve mnuchin yesterday, we saw gold prices sore, oil prices sore. we saw oil prices hit the highest level that we saw in three and a half years. gold the highest since 2016. platinum the highest since 2017 and then all of a sudden, hey, donald trump says, hey, we misinterpreted his comments. what he was trying to say, i guess, was, hey, a weak dollar is good for the u.s. economy. but that doesn't mean we have the weak dollar policy. and i think that's why the market reverse a little bit. having said that, considering the dollar we saw, melissa, actually, these markets still held up pretty well. i mean, oil prices are still hanging around $65 a barrel. you know, the gold is coming down and considering the dramatic change in the mood in just a short period of time, i think they held in there pretty darn well. melissa: all right. thanks, bill. connell: president trump as we were -- melissa: we love seeing phil. connell: we were just talking about president trump's comment

on c-span3, steve mnuchin will talk about tax reform and the ebt ceiling. announcer: next, missouri governor giving the annual state of the state address. he outlines legislative priorities, lowering taxes and reducing regulatory requirements. shortly after, the governor admitted to having an extramarital affair but denied reports of blackmailing. the address is from the capital in jefferson city and is just over 30 minutes. >> ladies and gentlemen, please welcome the >> ladies and gentlemen, please welcome the governor of missouri, eric greitens. [applause] you. thank you all. thank you. [applause] thank youens: lieutenant governor person, speaker richardson, and members of the missouri house, president richard, and members of the missouri senate, chief justice fisher and justices of the supreme court thomas state officials, members of the cabinet, our first lady and my wife. [applause] we have many honored guests here tonight. one who is particularly special to me, my kindergarten teacher here tonight. [applause] gov. greitens: thank you. i was in mrs. ri

mnuchin said that a weaker after -- about 7/10 of 1% steve mnuchin said that a weaker dollar is good for trade. and still risk on, s&p futures up around 2.1%, even after making records yesterday david:. -- yesterday. david: trade negotiators have extended their time in montreal to continue nafta talks. we welcome michael mckee. find?o you expect to michael: cold weather, and maybe called attitudes. attitudes. the u.s. trade promotion authority, which are made both them -- enables them to negotiate a treaty without congress, also expires on july 1. this will be a key event. the trade negotiators for various countries are all in davos, and they will have some informal talks. maybe they can accomplish something. but the worker bees continue to labor away in montreal over what they can get done. into: do you read anything that the minister has not yet asked congress to extend that authority? the president has an april 1 deadline to do that, so he still has some time. we are not sure how the president feels about these things, given the comments from his administration officials. even tod

i kind of agree with what steve mnuchin said. athink in the short-term, weaker dollar is good for the u.s. economy. with europe recovering and the emerging world doing so well, maybe the dollar will continue to soften. the dollar itterm probably should strengthen because interest rates are much higher in the u.s.. >> rishaad: isn't it extraordinary do? the pound is 5.7% up. the mexican peso is the best performer, 6.9% higher. mark: certainly one of the surprises this year have been -- has been surprisingly week. it, one of thef positives, is that it is good for risk assets, including u.s. stocks. cap of s&p company revenues come from overseas. a weak dollar actually good for the stock markets. mark, the combination of a weaker dollar environment continuing in the short or medium term plus the trade -- is this tensions going to be more inflationary than we are expecting for the u.s.? mark: this is the million-dollar question. growth last year was 3.8%, and this year will probably see another 3.8%. that is about 70% higher than the

really wants to the previous day, steve mnuchin said it was an u.s. trade interests to have a weak dollar so there you see the driver for the changes of the prices we saw today. we have breaking earnings news. revenue was higher than anticipated -- analysts are 16.4 billion dollars. intel boosting dividends as well , the stock is moving higher after trading, and in terms of outlook, it expecting $15 billion in this quarter, give or take $500 million. we are in line with the consensus estimates, and shares analysts looking at $.73, in that range that people have anticipated. the stock added to its advance right now up by 2.2%. intel was down at trading before these results. let's dive in to fourth-quarter numbers. a lot of the reason why people were right heading into this report was because of texas instruments is disappointing numbers. are they dead barometer for chips? -- are they the barometer for chips? thatu have to remember from a share price perspective that 120 is0 off of it toty -- yet to take expectations. expectations may have gone ahead of

treasury secretary steve mnuchin making more comments about the dollar in davos. saying the administration is not concerned about the level of the dollar in the short-term at a press conference yesterday he said the weaker dollar is good for the u.s then wilbur ross came on our show and said the media in attend dance took that comment out of context larry summers, jason fuhrman putting out notes, letters, statements, saying this was a big mistake, it would only invite retaliation but then steve mnuchin was on a panel hosted by cnbc this morning, here's what he had to say in response to all of that >> so my comments have been that in the short-term where the dollar is is not a concern of mine that is will fluctuate that in the short-term there's obviously benefits and issues with a lower dollar. in terms of the benefits, it's beneficial for our trade imbalances there are also issues for people who hold dollars so i want to be clear on acknowledging both in the long-term i fundamentally believe in the strength of the dollar it is the reserve currency, i believe it w

liz: treasury secretary steve mnuchin said the u.s. will put the united kingdom in the front of the line when it comes to u.s. trade deals, even as the uk is in the middle of brexit. theresa may of the uk said a trade deal is in the works after it does brecksit and leaves the european union. but remember what president obama threatened if the uk left the european union. watch. >> our focus is in negotiating with a big bloc of the european union to get a trade agreement done, and uk is going to be in the back of the queue. liz: joining me henry jackson society executive director dr. alan mendoza. good to see you, doctor. what did you make of president obama's comment when he first made it? >> what i thought it was extraordinarily ill timed and classy example how to have the opposite effect what you were trying to do. president obama had been drafted in essentially by prime minister at the time david cameron to bolster what's become known as project fear, which was the idea that were britain to leave the european union, one way traffic,

reporter: you had wilbur ross, and steve mnuchin make a host of interesting comments earlier today. we'll start, let's start with wilbur. he basically said that china and their desire to further engage in the technological sphere is a, quote, direct threat to the united states. wilbur ross at one point saying, quote, trade wars are fought every single day. the difference is u.s. troops are now coming to the ramparts. they are trying to put out this message here, liz, at davos that look, the united states, this administration, is not going to stand for trade abuses anymore. here's more from wilbur ross earlier today. >> we don't intend to abrogate leadership. leadership is from being a sucker and being a patsy. we would like to be the leader in make the world trade system more fair and more equitable to all of the participants. reporter: the treasury secretary steve mnuchin tried to couch that by saying we've got this america first jean,ed this america first policy but america first means we can do business around the world. speaking of steve mnuchin, he made headlines of his own her

steve mnuchin endorsing a weaker currency, saying it is not a concern. the bloomberg dollar index at a three-year low, down versus all g10 currencies, except the argentinian peso. the british pound in particular is rallying the most since april on a stronger than expected jobs report, which could reprice market expectations or the boe come a but also expectations for a softer brexit. turned moreing has bullish for the pound as well. the euro firmer. a weaker dollar and stronger signsian currency after of former president when not be able to run for president. joe: commodities ripping today, texasoil up over 2%, west closing in on $66 a barrel, gold up 1.5%, on a nice move. silver up nearly 4%. copper up 4%. the story is the weak dollar. dollar andnot the not u.s. equities -- if it was priced in dollars, it was up today. has have thisar slide, it has not always been good for commodities. it is coming back into effect here. joe: absolutely. those are today's market minutes. trump leaves for davos at 8:00, and advisers are setting the stage for his america

people in the administration have said this is steve mnuchin going rogue, a result of steve mnuchin having no advisers, no experience, and a skeletal staff. it will clearly impact the markets and it's a huge break from protocol with treasury secretaries before him, not to mention wilbur ross being on tv saying we are in a trade ross. maybe wilbur ross has been falling asleep in meetings, because last i checked, president trump says we're not. >> oh, my god. >> we look forward to hearing a lot more on this topic from you later on. brian, let me bring you in. there are so many people that didn't think this treasury secretary was up to the task of being treasury secretary, that he was beneath it. did he just prove his critics right? >> i don't know if he did or not, joe. i know you guys like to bring up historical figures from the world of politics. here is one for you, lloyd bentsen. >> oh, my -- >> yes, mika, lloyd bentsen was the last treasury secretary to reference the dollar in any way. it's not law, but it's policy, treasury secretaries simply do not comment on the dollar. here is the t

steve mnuchin's asset management has lost second traitor. steve: -- has lost the top traitor before his hedge fund launch. topteve colin has lost a traitor before his hedge fund launch. the u.s. marshals service will option more than 3800 bitcoins valued at $52 million. the coins were seized in connection with high-profile federal, state, and local cases including drug busts and-laundering schemes. the option to anywhere 22nd could raise or recommend for the government. nbc expect $1.4 billion in ad revenue from the super bowl and winter olympics. $900 million of that will be from the olympics and south korea which begin february 9. olympicsgher than the in sochi, russia. super bowl advertisers are in line with cash. and that is your bloomberg business flash. coming up, the trump administration's u.s. tax levy on slaps a 1.4% the wealthiest private-university endowments. at where, hints, the northeast. this is bloomberg. ♪ scarlet: i'm scarlet fu. "what'd you miss?" critics call the tax reform package penalty. tax on the wealthiest univers

steve mnuchin said during his confirmmation testimony. on the ground here he said a weaker dollar might not be such a bad thing after all. this is the comment right here, that is gaining all the attention led to the chart you popped up on the screen. mnuchin saying the dollar quote, where it is in the short term is not a concern for us at all. a weaker dollar is good for us as it relates to trade and opportunities. mnuchin also said more actions on trade, speaking of that, are to come and a couple cabinet members also on the ground here in davos as well, kind of weighed in today, backing up administration's current tough stance on all of this. for example, the commerce secretary, wilbur ross said following today, quote, trade wars are fought every single day. the difference is, u.s. troops are now coming to the ramparts. this is the energy secretary rick perry on set with maria bartiromo earlier this morning. >> this is a president that says look, i get it about competition but you're going to compete fairly and you're going to compete on

secretaryws treasury steve mnuchin's comments in favor of a weaker dollar. that translated into gains for gold and silver. a weaker dollar is certainly one factor but better than expected u.s. manufacturing him i a rebound from yesterday's losses. copper and nickel making the biggest strides. in the soft commodities space, week rising and one possible reason is algeria's new grains with a value-added tax coming to that. you can see a gain of 5.6%. julie: let's keep the focus on the energy sector, scarlet, as well continues its rise today. wti, advancing to its highest level in more than three years. will prices continue to rise in the year ahead? leawood kansas ofrob --robert thummel $60oise which manages million in investments. rob, thanks for joining us. tos ceo says oil is going trade in the 55 to $60 range this year. you think oil has made its gains now and has -- and is going to be stuck? $55 to $65 is a great place to be forever where across the energy sector, whether it is oil producers or energy infrastructure companies as well. scarlet: how much of

treasury secretary steve mnuchin saying the weaker dollar was good for u.s. trade. we are joined by the governor of the bank of france. we will get on to the euro-dollar spat. we will start that inflation expectation. first, thank you for coming on. i want to talk to you about something close to your heart. you can do as much monetary policy as you want. but if we don't have the same growth coupled with reforms they could and badly. at what level of the cycle are we for european reforms? europe is back. the euro is a success. it supported by 74% of european citizens. complete on have to the economic pillar. his is one of the priorities of this year. if we don't strengthen this , monetary policy risks being overburdened. agree, including in germany that monetary policy should not be the only game in town. theeans strengthening economic union. we have a historical window of opportunity. germany has been weekend. angela merkel has been weekend. weakened. weakened.kel has been -- it's ait's up with promising prospect but it's up to german suicide. there are three practi

steve mnuchin said a weaker currency is good for u.s. trade. wilbur ross said that any protectionist agenda in america pales in comparison to china. in a panel at the world economic forum yesterday he faced a group of strong champions of globalization. that is your bloomberg business flash. manus: juliette, think you very much. trump is scheduled to arrive in davos forming a number of positive comments from wall street chiefs. we just heard from jamie dimon. let's get back to haslinda. like let manus, seems the good times roll. i am joined by tim adams. good to have you with us. everybody is upbeat. there is so much optimism it is pretty scary. tim: everyone is in a good mood. it is good for clients, markets. haslinda: fundamentals are in place. imf raise the forecast for most of the countries. we spoke to the pm of russia and he said gross pti is 2%. tim: we had a slow growth, many countries in recession. the economy looks better now than it has since precrisis. people have been patient for the recovery. haslinda: you must be concerned about t

vonnie: you are watching the annual report from the treasury secretary, steve mnuchin. senator warren and senator toomey arguing -- he wouldn't say whether the treasury has -- there are administered of options that administrative options. he said metlife was released from the designation as a legal decision. metlife is leading stocks lower in the dow, down 9%. let's get to politics here. prime minister theresa may is prepared to head to china with 50 business leaders in tow. she's unlikely to escape turmoil merrick joinsavid us. are we reliving the brexit debate? these leaked documents have opened old wounds. say this justcamp shows the economic risks that are still out there. predicted economic armageddon, it didn't happen. criticized for being too pessimistic before the vote. he's pointing out that the forecasts have come true. it is yet again another example of the heated opinions on both sides. mark: theresa may escaping the country, trying to repair what some might say is not the best of relations right now with the chinese. we are very eager to prove that relation

secretary steve mnuchin got up to behind the scenes in davos. managing to hit our colleague andrew sorkin on set with a well-aimed snowball. >> be nice >>> welcome back saudi prince alwaleed has been released he was reportedly freed after the attorney general approved a financial settlement prince alwaleed described his detention as a misunderstanding and said he supports the kingdom's reform efforts my colleague hadley gamble has more on the story. >> kingdom holdings up for a second day after the release of saudi prince alwaleed. essentially showing his royal highness giving a tour of his suite. his release we've been told comes on the heels of the settlement he reached with the saudi government now, is the corruption probe over i had a chance to ask last week. listen to what the finance minister had to say. >> in reference to the anti-corruption, i think what i said in the beginning is very important. and the reform and starting that enforcement and cleared the level playing field that everybody is not before the law. that is what happened. t

us treasury secretary steve mnuchin provoked a further steep fall on wednesday by saying a weaker dollar was ‘good' for the us in terms of trade. this week the president signed new protectionist measures against foreign goods — slapping tariffs of up to 30% on chinese solar panels and up to 50% on south korean washing machines. he has also, of course, threatened to pull out of the north american free trade agreement with neighbours canada and mexico — worth 1.2 trillion dollars. talks to try and save it are under way this week the stakes are high. china, mexico and canada are the usa's top three trading partners — accounting for over 45% of its foreign trade. the dollar might be suffering — but mr trump's huge tax cuts have propelled us stock markets to record highs. so while some of the davos delegates may disagree with him, many have found themselves a lot richer since he took office. let's get more on this story. sally is in davos. are these protectionist figures, not least so some, they are huge. whatever the business leaders are trying to say to call the anxiety, it is ver

troublesome are steve mnuchin's remarks? is it possible the treasury secretary does not stop making remarks about the dollar and how ?ine it is that it is weaker get that turn out to be troublesome for the ecb? maxime: the president discussed comments from the administration or they said it is worrying and that is something they are monitoring. we looking at the trade weighted euro against the main trading partners. that is not going up as much as the dollar. since the euro spike that you have seen of the last few days, it is due to the weakness of the dollar more than the strength of the euro. mark: what is next, a boss meeting? a change in foreign guidance? -- forward guidance? comee: the forecast can with new narratives. it is time to tweak the guidance and prepare for the june meeting when they would announce three months to end the year. it could be a big year aramco,s here and saudi dropbox, and spotify are among the companies that could hit markets. we are rejoining erik schatzker. k: who knows more about ipo's and th

and steve mnuchin's comments about the dollar. some have been expecting a quicker exit from quantitative easing to be announced, but the most pressing question is will draghi talk down the euro? frankfurt, paul gordon. paul, draghi cannot really today, andeuro especially, i wonder what he has to say about mnuchin's comments. i'm sure he will be asked in the queue and a period. it seems the u.s. treasury secretary was pretty overt. yes, that's right. this is one of the key issues for the ecb at the moment. the euro dollar exchange rate is now the highest since late 2014. --t may be ok around the 124 125 level, but it is the pace of n which concerned some policymakers. it may reappear in the governing council statement at the start of his press conference. any comments on uncertainty surrounding the impact of the inflation? if he manages to get to all of that, it will be a maccallum from as well. -- the conference as well. cannot ignore it. guy: the markets are on tenterhooks, waiting to see exactly what he has to say, paul. what co

a presidency more steve mnuchin than steve bannon. so if somebody wants to come at donald trump from the populist right, there is some vulnerability there, and then before the republican establishment gets too giddy about this, remember, as, you know, influential as steve bannon was, this presidency was never shaped by steve bannon. it's shaped and defined by donald trump and he is not changing. >> in the epilogue of the book there are quotes that muse, that supposedly steve bannon has been telling people instead of, if i was president, when i am president. is that a notion to take seriously? in the populist wing of the party? >> no. that is completely delusional. and so delusional it makes you wonder, maybe that was some of the affinity between donald trump and steve bannon. i have to tell you, though, chuck that as i read through the excerpts i had a reaction i was not expecting. i actually found myself hoping that this account was inaccurate. hoping it is exaggerated, bu as many stories as we've heard about the disfunction and the

the white house between president and steve mnuchin on the dollar. we are seeing relative stronger dollar overall today. the dollar-yen back over 109. againstaussies staying the dollar. the kiwi seeing a little bit weaker and pretty much flat. to the detailsgo of china's earliest economic indicators and the implications of financial risk. this is bloomberg. ♪ yvonne: 830 in singapore, a picture to wrap up the trading week. half an our away from the open of trading here this morning. i'm yvonne man in hong kong. >> you are watching daybreak asia. let's get to first word news. up, white house officials say president trump is prepared to sign an immigration law that would give a pathway to citizenship for as many as 1.8 million immigrants brought to the united states as children. we are told the white house will offer a concession to democrats and at the same time, the president would ask congress for a 25 billion dollar trust fund to pay for his southern border wall. george soros has told the world economic forum that the trump administration is a da

steve mnuchin, treasury secretary right there. where are we going in this market in about 20 minutes time? we're going to go straight up on the dow. 200 points up for the dow jones industrial average. helped enormously by strong numbers from boeing. that company's looking down the road. they see a big increase in revenue coming at them. they're going to sell a lot more planes. the stock is up $21 nearing 360 per share. 6% gain. that helps the dow. higher profit from the health insurer anthem. but remember, please, that stock was down 5% yesterday on the news about the partnership amazon morgan and berkshire. it's only a modest. it's a nice bounce back today. 5% up. microsoft. now, they report their earnings after the bell today. i've got a little bit of microsoft stock. everybody ought to know that. question. will they give us a blowout profit report? we shall see. anything short of a blowout, maybe the whole market's got a problem. same story with facebook. they report at 4:00 this afternoon eastern time. anything short of a blow

>>> treasury secretary steve mnuchin plays down his dollar comments he is set to address the world economic forum in minutes. >>> and president trump says he is willing to speak to the special council under oath as part of the russian investigation. >>> and it's decision day at the ecb. we'll tell you what the global markets are looking to hear from mario draghi it's january 25, 2018. "worldwide exchange" begins right now. >>> good morning a warm welcome to "worldwide exchange." i'm wilfred frost. >> i'm seema mody in for sara eisen. >> great to have you here. let's get straight to the global market picture futures, after a day when we saw the nasdaq and s&p slightly lower, the dow slightly higher, we are expecting all three indexes to open higher today 64 points for the dow. the s&p five nasdaq up about 26 points. ten-year treasury note for you, around the mid 2.6 level 2.65 or so today 2.643. >> treasury secretary steve mnuchin will speak in davos in just a minute. so far today he appears to be playing down comments he made on the dollar yesterday speaking at a briefing in davos today, mn

. >>> treasury secretary steve mnuchin, he is in davos. he is welcoming a weaker dollar. wait a second, liz, you're not supposed to do that if you're the treasury secretary. liz: no. the dollar is taking hits. down to a three-year low. the argument it would help u.s. multinationals sell good abroad with weaker dollar but long-term he is saying yes to a stronger dollar. basically a strong dollar attracts people investing in the u.s. because it is considered the safe haven with stronger dollar. stuart: gary cohn told the world yesterday, america is open for business. ashley: right. stuart: i think treasury secretary mnuchin is following up on the statement even though you're not supposed to say that right. >>> now this one for you. in venezuela, we are told, they need to loot or die of hunger. yeah, look at that! vanessa newman is with us, the president of asymmetrica. vanessa, you're our point person, you know what is going on down there. >> thank you. stuart: i would have expected it to collapse. what is propping them up. >> what is propping them up, they keep getting cas

. >> steve mnuchin is endorsing a weaker dollar. he says "a weaker dollar is good for us as it relates to trade in opportunities." >> he said a weak u.s. dollar is good for america. do you agree? guest: i think it all depends why. when you think about the dollar today, it has weakened and it has baffled some people. there are two likely scenarios out there. one is what we talked about at outset in terms of the surprisingly stronger europe, the stronger rest of the world has now moved central banks into a position where they can start to normalize and raise rates. just like we saw in the u.s. in 2014, a pretty robust move in the dollar as the fed started that. we can say it's a bit of a correction. if that is what it is about, some adjustment, that is fine. the other side of the potential argument is that there is fear and it is a precursor to a protectionism and potential trade wars and causing people to shy away from the dollar. if that is what is causing the dollar underperformance, it is more concerning. >> the ecb holds steady.

we will give you a preview of what is coming up next, steve mnuchin who wants to ban cryptocurrency from becoming like a swiss bank account. this is bloomberg. ♪ yousef: u.s. treasury secretary steve mnuchin has put criminals using bitcoin on high alert, speaking at the economic -- of washington dc he did plans to stamp out the asset. >> what about the coin -- a bitcoin? are you comfortable with the currency and what do you think the government should do about it? >> do you own some? >> i do not. i do not own bitcoin. i do not know it is really. [laughter] i know i missed the boat on that, but is that something that you are worried about that could replace the dollar as a currency? -- we arelet me say i very focused on cyber currencies, cryptocurrencies, cyber currencies, we are very focused on a and actually at the last meeting we set up a working group. we are working with the regulators. so really the biggest issue, i have two issues with them that we are focused on, one is we want to make sure that bad people cannot use these currencies to do bad things. so in the united states, an

a blue-collar guy like steve mnuchin wouldn't know what the global elite even look like. i mean, he's too busy working up a sweat at his day job: holding up sheets of money with cruella de ville. ( laughter ) ( applause ) ♪ ♪ "we'll take a lot of these. put it in the truck." but one person has decided not to go davos, because "melania trump will no longer join the president in davos" due to "scheduling and logistical issues." yes, there were logistical issues. for instance, the weather. she was afraid it was going to be too "stormy." yes. ( laughter ) so far, washington's gotten frosty. ( laughter ) well, we'll have more on davos tomorrow maybe. who knows? again, the whole thing is stupid. but trump may stay over there for awhile, because robert mueller is-- what's the word-- doing his job. ( cheers and applause ) hardworking man. his job seems to be investigating whether trump tried to obstruct justice. turns out, when trump was interviewing then-acting f.b.i. director and saddest warby parker model, andrew mccabe, for the top job at the bureau, trump asked mccabe wh

earlier today steve mnuchin defended the list. he said congress will get a classified version of this with more detail and the treasury will brief him on that. he also says the treasury will roll out more sanctions against russians. >> how can sanctions punish russian interference in the ukraine and american elections and deter future interference if these sanctions continue to sit on the shelf unused by the president? >> i don't think in any way we're slow-walking the report that we delivered last night and we look forward to discussing it with you in a classified setting. >> so this list, the sanctions, is all part of a 2017 law that congress passed in response to russian interference in the 2016 presidential election. the list deadline that was out last night made it. the sanctions questioned is something that now the state department is responsing to. state department officials say there's no deadline yet for them to roll out sanctions in compliance with the law. they're working through the process. on top of that, officials f

steve mnuchin saying the u.s. does support the uk's brexit vote to leave the eu. all this is contrary to president obama's comments a few year ago. let's listen. >> our focus is in negotiating with a big block the european union to get a trade agreement done and uk is going to be in the back of the queue. liz: with me now host of fox news the next revolution is a terrific show former senior advisor to former uk prime minister david cameron is steve hilton. good to see you steve. >> hi, liz great to be with you. what a hilarious reminder that was of a massive irony by the way. the democrats go on and on about how the russians interfered in our election here. you know they're pointing that out but they're perfectly okay with barack obama interfering in the brexit vote aggress every telling the british people to vote one way, of course it didn't work. liz: yeah i didn't think of it that way that president barack obama was basically threatening the entire all of the people of great britain saying if you vote for brexit, you ain't going to get u.s. trade deals right? >