Records, tax reform and that surprise special election result in alabama. Plus a little more clarity and an update on disney and fox. We are less than 24 hours from the announcement of that deal. Apples billion dollar fund finds another investment fin asar surgeries on the news as apple builds on lasers and specialized chips. The fed is expected to raise Interest Rates again today as it concludes its twoday meeting. If so, it would be the third rate hike of the year. Then this afternoon the president is said to deliver remarks on tax reform as happens trying to put the final tuchoucs on the bill. The president is going to have lunch with some members of the Conference Committee it looks like theyre trying to meld the two by from the, get it to his desk by the 20th. Maybe corporate rate to 21, some compromise on mortgage interest deductibility. I think its interesting also just in terms of what would pass versus not if you had democrats. A cut of 37 in the top tax rate for individuals,
Twitter. Shares down 11 premarket after showing the worst growth rate ever. I spoke the outgoing Procter Gamble ceo yesterday. That coming up. Some disappointing guidance but first up twitter taking a hit despite beating expectations revenue up 61 in the user growth quarter. Interim ceo dorsey last night expressing his dissatisfaction during the Conference Call. Instant time lines and logged out experiences have not yet had meaningful impact on growing our participation. This is unacceptable and were not happy about it. We need to do three things. One, we need to ensure a more disciplined execution. Two, we need to simplify our service to deliver twitters value faster and three, we need to better communicate our value. Stock closed at 5 . Ended up down 11 after hours. The quote of the day, we do not expect to see sustained meaningful growth until we reach the mass market and we expect it to take a period of time. Thats what i spoke to the cfo about before we came on. And i put that to
Are increasingly under threat. Conversations of consequence with leading investors and executives. A lack of alternatives. Big banks had up a parade of earnings reports. The best way to get shareholders on board is to show our plans get graduate. Our transformation is a journey. Its all straight ahead on them best. Best. Oomberg hello and welcome, im mark parson, this is bloomberg best, your weekly review of analysis and interviews from around the world. The week began with another development in spains ongoing Political Drama over catalonias quest for independence. The president of catalonia failed to clarify his position on independence. He simply repeated his claim that he has a mandate from voters to act, but his decision to suspend the move has a left the country in a state of confusion. They are doing what madrid told him not to do. We need a simple yes or no answer. It is a fourpage letter where he says he has a mandate and he is willing to act upon it, but he will engage in tal
Good friday morning. Welcome to squawk alley. Im Carl Quintanilla dow is at 44 the Trump Administration gearing up for a major push on tax reform as you probably know. Chief economic adviser gary cohn giving a wide ranging interview to the Financial Times saying the president will start being on the road making major reasons to justify the reform. U. S. Managing editor for the Financial Times is here. Good to have you with us great to be here. A lot to unpack in this interview. Im curious to know what you consider to be the lead at this moment two keys. One key is obviously grabbing a lot of attention in the american political world is the fact that gary cohn has made it very clear that he disapproves of what the president said about the bill. Hes wrestled with his conscience about staying in his person or not. But as a jewish person he doesnt want to be pushed out neonazis chanting jews shouldnt replay us. But were interested as a Financial Times this new push on tax the fact that the
Plus texas bracing for Hurricane Harvey the strongest hurricane to hit the u. S. In more than a decade. The ecommerce giant said to slash prices in whole foods as soon as monday investors though will focus their attention on jackson hole wyoming and the Kansas City Fed symposium. Yellen will speak in about an hour from now while draghi will address the gathderring this afternoon. 3 00 p. M. Eastern time powell is somewhere in there around 220 but the conference title is about synchronized Global Growth which some argue is a different, will mean jackson hole will be different this year. It seems different. Theyre trying to drain the drama out of it whether they suck said in that or not i dont know. It became something never intended but it finds the markets in an interesting position of being overly comfortable with what they think is going to happen here. Not believing the fed is going to normalize in a rapid way thinking that the run off in september or the Balance Sheet wont be much