supermarkets institutions and thousands of smaller community banks is the result of more than a century of political dealmaking. in early 1930s fdr s new deal reforms included the glass-steagall act a law that created federal deposit insurance and for more than 50 years separated commercial banks from investment banking activity. federal deposit insurance government controls on deposit interest rate and protection from competition from the mid-1930s through the 1950s among the best of times for small community banks. still underlying market forces favor the poor nation of large regional banking groups, innovative holding companies like the transamerica corporation and abetted legal ways to assemble large interstate banking conglomerates are tensely creating a new source of competitive pressure for small-town banks. community bankers fears only steep and when the federal reserve boss s 1940 lawsuit to try to break up transamerica charging that transamerica had violated the cla
revised to a gain of 1st0%. that much better than estimates. durable goods orders falling 0.8% in april. the final reading on that. not much reaction either way in the exwidth wit markets. i want to mention what s equity markets. i want to mention what s going on with oil. reports that oil nations were cutting off relation was qatar. it s coming down the perception this will not disrupt supplies and shipment in the region. oil down 1%. vonnie: thank you for that on the u.s. economic data. mark: the latest on the terror attack on the london bridge saturday night which killed seven people and injured almost 50 more. the election will be dominated by security debates. prime minister may spoke earlier tay. despite the progress we have made in recent years, and successes we have enjoyed, we must do more to respond to the changing threat to our country and our way of life. we cannot deny that the threat from islamist extremism is one of the gravest we face. mark: bridge, what d
director leaking communication with the president. entitled totrump is loyalty from those serving the administration. kasowitz said the president told comey i need loyalty, expect loyalty. in the u.k. voting is under way in the second eligible election years. a total 650 members of parliament will be elected. almost 47 million people are registered to vote. tune in for bloomberg tv one at 5:00 p.m.today new york time. we ll have instant analysis of polls in the exit u.k. are published. said more thans infectedople have been an outbreak. health officials claim the on the 2-year-old saudi campaign against rebels. bloombergive from headquarters in new york. joe: we re 30 minutes from the u.s.ng trading here in scarlet: u.s. stocks trading mix of super thursday. you question is what did miss. scarlet: james comey said president trump lied about his firing. the administration then chose to defame me and more importantly the fbi. by saying that the organization in disarray. that
joining us. good morning, everyone. silicon valley stepping up opposition to the president s immigration executive action. microsoft, uber, twitter, facebook, apple and others submitting a joint brief asking the court to roll back parts of the order. they say the government should make a fundamental commitment to welcome immigrants while still boosting background checks to protect the country. from the brief the order inflicts significant harm on american business, innovation and growth and threatens ability to attract business and investment to the united states. this as alibaba ceo jack ma warns in no uncertain terms that if trade stops, war starts. kara, we re spending a good part of the morning dissecting who joined this letter and who did not. your thoughts. well, i think it s just another in the ongoing sort of tech getting to these issues. for example, airbnb had an ad last night in the super bowl. they re all trying to speak up to the issue because it goes t
this isn t that there were discussions. there was nothing wrong or or inappropriate about those discussions. it purely came down to a matter of trust, that s it. thank you, guys, see you tomorrow. ashley: there you have it, a contentious but certainly not combative sean spicer, the white house press secretary basically saying again and again and again, 28 times over, that in his opinion and in the president s opinion our former national security adviser, michael flynn, did nothing wrong when he spoke to the russian ambassador even about sanctions. the rob for the white house was the problem for the white house was he was not truthful when he was questioned about it. in other words, he didn t tell the truth, and it was that erosion of trust that was ultimately the downfall of michael flynn, and that s why president trump asked for his resignation late last night. he lied, he said, to vice president mike pence, and for that he just, there was just no going back. he did no