That have so far orchestrated strikes, hitting many sectors and wreaking havoc on transferred systems of large cities. In puerto rico, unusual seismic activity and strong aftershocks are delaying Recovery Efforts following a massive 6. 4 earthquake. Hundreds of thousands of people are still without power and water. Thousands are staying in shelters or sleeping on sidewalks. Quake killed one person, injured nine others. The latest aftershock hit overnight, measuring 4. 36 magnitude. I am Mark Crumpton. This is bloomberg. Live from bloomberg world headquarters, i am vonnie quinn. Amanda i am amanda lange. Here are the top stories we are following around the world. Administration imposes new sanctions on iran targeting steel aluminum, copper and iron. We will have the latest. The u. S. Jobs market into 2019 on a sour note. Missing expectations. An airplane designed by clowns. Internal messages from boeing show employees discomfort with the 737 max. One says it was designed by clowns and supervised by monkeys. Vonnie lets check on the major averages. After all that has gone of this week it is moving very little today. The s p 500 up appoint. Oil down by about . 30. The dollar index soft but going nowhere. Amanda we did see a reaction on the currency front and can into our jobs data. Weak jobs in the u. S. , not so in canada. We got some reversal of the weakness in november. Two and a half thousand jobs added. Basis that puts us as the second highest increase in jobs since 2007. Unlike the u. S. We had wage gains continuing here. 3. 8 . All of that puts focus back on our central bank with questions of what it might do ahead. Vonnie lets get to the geopolitical events of the day. Steven mnuchin laying out more details about new sanctions on iran. They will target steel, aluminum, copper and iron, and eight Senior Iranian officials. Todays sanctions are part of our commitment to stop the iranian regimes global terrorist activities. The president has been very clear. We will continue to apply economic sanctions until iran stops terrorist activities and commits it will never have nuclear weapons. Vonnie joining us from washington is bill sorrys. Put this into context or us. How strong is this . Fact when you look at the a u. S. Base in iraq was attacked with missiles, this is a sign of some of the deescalation we have seen in the last 48 hours. Policygoing head of iran at the National Security council said the economic maximum Pressure Campaign on iran was a level of about 8. 5 out of 10. This is part of what they can do to get it a little bit higher. When you talk about irans economy you are talking about oil exports and that has been clamped down on since last year. It has been an impact on the margin but its an impact on the margins for an economy severely battered for the last 18 months or so. Amanda we have seen questions raised about whether the act could be imposed here which would target individuals. Is it less relevant for iran atause the integration the higher level is less than other countries . Bill i think so. The u. S. Put sanctions on the ford minister last year. He is still in theory able to travel to the u. S. For United Nations meetings. The economy is already so isolated, the leadership so isolated that a lot of this has negligible but symbolic impact. Vonnie the primary and secondary sanctions, meaning the tentacles extend to another country that may want to do theyess with iran, will not be allowed to do business with the United States . How does that impact allies in europe and elsewhere in the world . Bill european allies have wanted to try to keep that 2015 nuclear deal with iran alive. They worked hard to find ways to allow their companies to invest in trade with iran. That is really what the u. S. Sanctions you are talking about are targeting. It is kind of clamping down on any company that might want to do business with iran but still does any business with the u. S. Court or in u. S. Dollars. It makes it hard to do both and limits the pool of the number of companies that can take the risk of doing business with tehran. Amanda bloomberg bill faries, thank you for this. Appreciated. Lets turn to jobs data. Larry kudlow spoke with bloomberg earlier today with his view on the report. 267,000 gain in the household survey, which skews to the smaller, younger businesses to show the vitality of the economy. I really think this is a strong report. Amanda here to take us there dave bryson from charlotte. Give us your characterization here. There is a since this does fit into the narrative that it will slow but not be disastrous. Is this still a pretty good number . In general i would agree with larry kudlow. I dont pay a lot of attention to household surveys. Thats a very volatile number. In general if you look at the last three months, it will smooth out some of the volatility. Its created 184 thousand jobs per month on average. That is not quite the over 200,000 we were doing last year. In the grand scheme of things that is not a bad number at all. Vonnie what do we do about these earnings . It seems like no matter what the fed does her hou how long they hold on, never goes up. If you look at some of the higherpaying jobs in the economy, like in manufacturing, the oil sector, you have seen some slowing over the last year. Due in part to the trade war and the slowdown in the energy sector. If youre not creating highpaying jobs, ute spec to see a bit of slowing over all in terms of hourly earnings. I think the important thing is to keep in mind how much income is being created. The last three months we have would be the september through november timeframe. If you look at real disposable income, thats up over 3 on a yearoveryear basis. Thats a good solid number and underpin and continue to underpin strong gains in consumer spending. Amanda in terms of how we connect these numbers to what we didnt expect to see in the broader economy, one place we are watching his Business Investment. Can we extrapolate from weakness we have seen here and the intentions by corporations and make a connection of what kind of leading indicator this might be for workers in the quarter ahead . Jay there is a little bit of noise. You expect to see it in the manufacturing employment. That was down 12,000 in december. Strike. The gm there has been some weakness in terms of manufacturing. When you look at the survey of what businesses expect Going Forward in terms of investment spending, that is on the weaker side right now. We dont think 2020 will be quite as weak in terms of Business Investment spending as it was in 2019. We are not looking for a huge acceleration either. There is still uncertainty as it relates to trade. We think that will probably continue to way weigh on investment spending. Vonnie what is the best scenario for negotiations . Jay the best Case Scenario is you get a confidence of trade deal where the chinese agree to stop transferring intellectual subsidieshere, stop to public enterprises, and we take the tariffs off. That is not our expectation. We dont think we will see a ratcheting up in the trade war but we are on a pause at this point. You never know. We will see how that all plays out. That would definitely i think be the best Case Scenario. Amanda yesterday our Central Bank Governor in canada said he believes the reduction in growth that came as a result of the trade friction was permanent. Growth will resume but forever lost increase. Would you agree with that . It is just now baked into the numbers . Jay that is more of a cyclical sort of thing. I will look at it like a longterm secular. I dont think we are going back to the days of a decade ago when the Global Economy was growing 5 . You had China Growing 10 , etc. Those heady days were very good, very good for canadians and the economy. You look around the world, china will never grow 10 again. No one will take its place. A lot of this is due to longterm structural factors like slower population growth. Until you see a major acceleration, you are looking at a Global Economy that at best will do 3. 5 in the long run average. I dont think we are going back to 5 numbers anytime soon. Vonnie thank you for joining us today, dave bryson, wells fargos acting chief economist. Ben bernanke recently said the central bank is likely have a next recession despite low Interest Rates. Larry summers agrees. He spoke on her new show wall street week. Ben bernanke gave a speech that i think was a kind of last hurrah for the central bankers. He argued Monetary Policy will be able to do it next time. I think that is pretty unlikely in recessions we usually cut Interest Rates by five Percentage Points and Interest Rates today are below 2 . I dont believe that quantitative easing and that stuff is worth anything like another three Percentage Points. Vonnie you can catch Larry Summers and Roger Ferguson and others on bloomberg tv and bloomberg radio. Every fridayeek, at six clock p. M. New york time. This is blue 6 00 p. M. New york time. This is bloomberg. Vonnie time for your bloombergquint take. The fda took steps at curbing underage vaping. They banned flavors blamed for getting millions of young people hooked on ecigarettes. One fourth of American High School seniors say they indulge. Now a debate about how marketing is attracting billions of nonsmokers to hook a new generation. There have been 55 deaths animals 2600 people hospitalized for vaping related lung injuries in United States. Regulators signaled the outbreak and products containing thc. The crisis has derailed merger talks between Phillip Morris and altria group, which owns more than one third of juul. Juul is suspending advertising in the u. S. Quicktake. Ombergs amanda the u. S. Is joining allies and suggesting the ukrainian boeing 737 was down by an iranian missile. Mike pompeo address the matter earlier today in washington. We do believe it is likely the airplane was shot down by an iranian missile. We will let the investigation play out before we make a final determination. Its important we get to the bottom of it. I was on the phone with amanda boeing faces questions on another front. A batch of messages where employees expressed deep unease with the 737 max. Nowge ferguson is with us from princeton, new jersey. Was theped out at me messages related to tricking clients and tricking regulators. Jedi mind trick. Those are not the droids youre looking for kind of language. How serious is that for boeing . I think it was disappointing to see the numbers come out. Its indicative of some of the culture problems they have at boeing, some of the challenges the new ceo will face. Out of bounds were not going to be met. It speaks of the problems with the culture at boeing. We are looking for the new ceo to come in and do something to bring it back to engineering culture. Amanda part of the problem is that the world of regulators, lawmakers and including those related to those who are deceased will be looking for answers and or smoking guns. Do we get closer to smoking guns we see evidence of actual misleading behavior about the jets . George it seems like most of the problems in these memos are problems we have heard about before and boeing is actively working on it. I think we already understand what the smoking gun is. Some of the memos have test pilots talking about mcat taking them for a wild ride and simulators. I think we have this smoking gun. I think boeing has the plan for fixing those problems. They are starting to approach customers and be more forthright about them. Approach the faa and be more upfront with them and get the planes through its regulatory hurdles. I think we know for the smoking guns are and what the needs are. This is more historical to how bad i think the culture is that the company. Vonnie how do they start again . About orders versus air loss on monday. Life does not stop. It does appear around is low inside the Company Morale is low inside the company. Job is toe new ceos improve morale and the corporate culture. The industry is a duopoly. It is not like there customers can get up and go to airbus. There is a line six years long to get airplanes. Start to make things right. That is all the right path to ing a strong 737 franchise they have. It is a long road. Unfortunately it is a duopoly in the industry. Vonnie george, thank you for joining us. George ferguson of bloomberg intelligence. We have an ipo. Casper sleep. Mattress,he from bedding furniture and glow lights. They are looking for a listing on the new york stock exchange. We were expecting this in the first half of 2020. Morgan stanley and goldman have been working on it. Its last investment round was valued at 1. 1 billion. We should mention investors include targets. , a New Enterprise associate. This brings something long in the works. A mattress unicorn company. This is bloomberg. Amanda this is bloomberg markets. The 7 trillion push. The biggest emitters of Greenhouse Gases to change their ways. Has this been in the works for a long time . Climate action 100 plus is a group that has been in the works for three years. They signed up some of the largest Asset Managers in the world. Blackrock joining is the Worlds Largest asset manager so its a big win for the group. Amanda in terms of the difference it will make in the world since the idea is to get real assets investing in this way, how do we measure against the impact of it . Annie the group is trying to get more disclosure from Greenhouse Gas emitters about their activities and trying to get them to reduce those emissions. Thats part of the Pressure Campaign this group is trying to wage. It is almost 400 members signed up, including the Worlds Largest asset manager. They are gaining even more clout with this edition. Vonnie tell us about some of the firms that have yet to join. Annie vanguard is a notable exception. Someig index fund firm, of the biggest in the world had been glaring omissions from this group. With blackrock joining now that might be more pressure on the likes of vanguard to get on board as well. Amanda we have corporations and investors not so political. Will this force more policy in this direction . Annie i think its a symbolic move. The idea is to get more large Asset Managers voicing their concerns about the kind of andis Climate Crisis causing change within the companies. One point activists have brought up is that Asset Managers are not doing enough to years or shareholder vote and to use their powerful voices to demand more change around climate change. That is part of the reason for this. Youra great to have thoughts on this. Your function is tv. This is bloomberg. Beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. Mark i am Mark Crumpton with bloombergs first word newsmark . The trump is imposing new sanctions on iran following the attack on u. S. Military bases. The sanctions target the Steel Industry as well as eight Senior Iranian officials. Steve mnuchin and mike pompeo announced the measures at the white house. Sanctionsmnuchin says waivers will be issued for americans to help with investigation of ukrainian jet that crashed near tehran. Northern ireland has been sincet an administration the powersharing government collapsed in january of 2017 over a botched green energy project. The deal includes promises of Financial Support from the u. K. For big Infrastructure Projects if the government is restored. Indias top court says the internet shutdown enforced by the government for the last five months was illegal and an abuse of power. The ruling was critical of t