♪ david: you have been the ceo of uber for how long now? dara: two years. david: two years? and you enjoy it? dara: i love it. david: when you came in, the company was not a public company. you have taken it public, and you have received a lot of publicity about the ipo. obviously you know that. the company now has a higher market capitalization, roughly $72 billion. something like that. higher market capitalization than any company in american capitalism history, except for facebook, this short a time after its ipo. why are so many people criticizing you for having a $72 billion market cap? dara: [laughter] i think there are many critics out there, especially for a large company. that is a fact of life. i think what is different about some of the technology companies of our generation that are coming public, the so-called unicorns, is that we have stayed private for longer. and we have raised more money over a longer period of time. and as a result, when we come public, we generally have bigger scale than companies who went public, let's say, the last generation of companie

david: you became the ceo of expedia. dara: i did, yes. david: did you have experience? why did he think you would be good at being ceo? dara: he was desperate. we were in a situation where one of the founders of expedia who was running it decided -- this stuff happens naturally -- founding a company, building a company is different from managing it. and moving it into a mature state. this person decided, i am not up for the ceo gig anymore. can you find a replacement? david: you were not the first choice? dara: i have no idea, i never asked him. i raised my hand and he said yes. david: the board gave you stock options worth $180 million. dara: i guess they did based on theoretical value. david: and then all of a sudden, while you are doing a good job, somebody asked you to interview for the job of being the ceo of uber. is that right? dara: yeah. david: did you say, i already have a job? dara: at first when i got called, i said, no way. i talked to a couple of friends. you don't get too many chances as a professional or otherwise to work at and especially lead a company

david: yeah. but you can refuse advertising. dr. mark siegel, patients asking about the snake oil cures? >> all the time. david: really? >> i'm of two mind of this. susan gave a great intro to this. i am of two minds. if facebook does this, you know, professionally, it is going to cut down on snake oil sales. it will cut down on anti-vacsers. that led to the measles outbreak this year. but i'm for it, but it's a slippery slope, david. what happens when the government get involved and overpolice something? to susan's report does facebook know what is snake oil and isn't? i know, not just me, doctors like me, patients come to me all day long with a long list but i really want facebook deciding what is a quack cure or isn't or youtube? sometimes today's alternative treatment is tomorrow's cure. if it was just for information gathering. i like -- david: take other side of that for a second here because you and i both, we talked about this before off camera. we know people who get side tracked from rea

back to you, david. david: edward lawrence, thank you very much joining me is congressman andy biggs of arizona co-chair of the border security caucus. congressman bigs also serves in the house judiciary committee and is a member of the house freedom caucus so congressman, the president is making lemonade out of lemons, ha? >> yeah, he's been forced, his hand has been forced repeatedly by the courts, by our democrat friends who really don't want to know how many illegal aliens are in the country. he's taking an approach that's been used in the past or tested in the past. i hope it's successful. i'm just dog on tired of the courts making rulings that i think are designed to hinder this administration rather than to apply constitutional law. david: well these are to your point, precisely, the attorney general commented on that earlier today, when they announced the decision in the rose garden at the white house. let's just play that sound bite and get your response. >> as a practical matter, the supreme co

david: this is "balance of power." i'm david westin. for bloomberg first word news, we go to mark crumpton in new york. mark: pretense new prime minister boris johnson is about -- vowing the u.k. will leave the eu on october 31 "no if's, and's or buts." in his first speech, prime minister johnson tried to persuade the public to back him, saying the time has come to act on the nation's departure from the european union. >> though i am today building a great team of men and women, i will take personal responsibility for the change i want to see. never mind the backstop, the buck stops here. mark: as she left the house of commerce chambers, theresa may was given a standing ovation by conservative lawmakers, many of whom helped bring her down by rejecting her brexit deal. after saying goodbye to the downing street staff, may stood outside the prime minister's residence and spoke publicly for the last time as britain's leader saying the job has been her greatest honor. former special counsel robert mueller dismisses president trump's claim t

david: do you enjoy it? dara: i love it. david: the company was not a public company. you have taken it public. you received a lot of publicity about the ipo. the company has a higher market capitalization, roughly $72 billion. higher market capitalization than any company in american capitalism history except for facebook, this short a time after the ipo. why are so many people criticizing you for having a $72 billion market cap? dara: i think there are many critics for a large company. that is a fact of life. what is different about some of the companies of our generation that are coming public, the so-called unicorns, we have stayed private for longer. we have raised more money over a longer time. when we come public, we have bigger scale than companies that went public, the last generation of companies. my view is, we wanted to go public. we needed to make sure we are well-capitalized for the next five years and we achieved that. now the time is to put your head down and get the real work done. david: after the company did go public, it did go down by about 11% whi

i'm david asman. joining me on the panel today carol roth, jonathan hoenig, john burnett and jonas max ferris. let's go one-on-one with the white house director of trade and manufacturing policy and assistant to the president, peter navarro. congrats first of all. you heard the president say the fed really doesn't know what it is doing. what should the fed be doing? >> let's talk about those numbers first. david: all right. >> they are beautiful. 224,000 jobs. guess what? construction and manufacturing added up to almost 40,000 of those. and as the director of the office of trade manufacturing, i just love it when we get more manufacturing jobs. we're up to over a half a million new manufacturing jobs since president donald trump took office. and that compares with a loss of almost 200,000 manufacturing jobs in the o-biden administration. the other thing i love -- david: i'm laughing at your reference to the o-biden administration. go ahead. >> back through the campaign, when hillary was talking about

david: ok. gen. kelly: someone in the room has got to say at the beginning of every conversation and at the end, is this good for america? ♪ david: so let's go forward now to chief of staff. so you are the chief of staff, sounds like a good title. everybody in the government is responsive to you. you can call any cabinet secretary and tell them what to do. is that the way it works? gen. kelly: i would not say tell them what to do. i would suggest. they are cabinet members. the president puts out, as you know, whether it's tweets or his time with the press, and he does a lot of discussion with the press, he puts out his feelings on different things. more often than not, i would get calls from the cabinet people saying, i heard him say this. is that a change? should we react to it? so the president is never hesitant to pick up the phone and talk to his own cabinet members. david: ok. did you say to the president, maybe the tweets are too much to keep up with? or maybe you should not tweet as much? ge

david: alex acosta is out. the labor secretary stepping down after renewed uproar after the new arrest of sex offender jeffrey epstein. you probably remember acosta offered epstein a guilty plea that was slammed by critics. but president trump is defending acosta in part it appears because the economy is booming. president trump: i know one thing. he did a great job. until this came up there will be was never an ounce of problem with this very good man. >> it would be selfish for me to stay in this position and continue talking about a case that's 12 years old rather than about the amazing economy. david: joining me is steve moore. was acosta becoming a distraction? >> first of all. the guy did a hell of a job. he was a great labor secretary. he got rid of a lot of regulations impeding employment. i don't know all the details about this plea agreement. but he had a tenure at the labor department he can be proud of. i'm proud to have called him a friend and still do. and i think he'll look back on his tenure at

david: thanks so much. fed chair jay powell begins two days of congressional testimony on capitol hill today and his semiannual report to congress on monetary policy, with everyone scrutinizing his every word on whether and to what extent the fed will loosen monetary policy. we welcome senator pat toomey, pennsylvania, member of the senate banking and finance committee. let's get right to chairman powell. the markets think that we are going to have at least one rate cut this year and at least two by next year. where do you think we are headed? sen. toomey: i'm not sure, but i get the market consensus is pretty overwhelming for at least a modest rate cut in the near future. when the markets are this convinced, they are usually not disappointed. i think it is actually a bit of a closer call than what the market seems to suggest. i think the fundamentals still look good in the united states. there certainly are increasing risks, especially on the trade front. then't be surprised if what market has priced in co

david: paris or london? gen. kelly: none of that. david: you have three children. you fathered three children. your oldest son is in the military still. gen. kelly: a lieutenant colonel in the marine corps. recently promoted. just back from his -- one of his tours in iraq. david: you have a daughter. what is she doing? gen. kelly: she was with the fbi. prior to that, she worked with the wounded men and women coming back from the wars. bethesda naval hospital. and then, she went into the fbi. she was with the hostage rescue team. she was one of the support people for several years. david: you had another son who lost his life in military combat. gen. kelly: he started off as an enlisted marine. he became a second lieutenant and was killed in afghanistan. david: did you and your wife say, having two sons in the marines was an awful sacrifice for any family? gen. kelly: it's our way of life. it may sound strange, but it's a way of life. they make their own decisions. david: what would you say is the best training to be chief of staff of the white house, particularly w

i'm david asman. joining me today, jonathan hoenig, kristina partsinevelos, gary kaltbaum and liz peek. swalwell is out but reports are swirling that california billionaire and anti-trump donor tom steyer is considering jumping in to 2020 -- the 2020 race as early as tomorrow. sources say one of steyer's first attacks could be on president trump's claims that the economy is now thriving under his leadership. with president trump's approval rating now at an all-time high, including his handling of the economy over 50%, how can he, steyer, or any democrat, win by arguing that the economy's bad? >> i think it's an incredibly tough road to make that case. americans are convinced because they see it in their daily lives through higher wages, through job opportunities they haven't seen before, et cetera, that they are doing better than they've done in decades. so i think this is not what is going to bring him into the fore. what he really wants to talk about is climate change and impeaching donald trump. i

david? david: the administration continues to work on a trade deal with china, but in the meantime its deal with canada and mexico still sits in congress. we welcome marc short. marc: thanks for having me back. david: give us a peek at your game plan. when congress gets back in session, how do you get this through congress? ambassador lighthizer has believe in the administration on capitol hill, and he has had a large number of productive conversations with democrats. the challenge is house democrats . if you look at the vice president's travel and the case he is making across the country, in many cases to democrat districts, reminding constituents this is a better deal and they need to get their congressman to weigh in. speaker pelosi holds the keys to the kingdom. it is up to her when she wants to bring up a vote. we believe the votes are there to pass it. the question is will she do it. there are a lot of democrats who are in districts that benefit from this. it is not the chairman of the

david: how many cities? dara: eats is in 500 cities. david: what is the most popular food? dara: fried chicken is magic. [laughter] david: how do you keep the grease from kind of going through? dara: david, i'm covering that in my next monthly business review. i have not gotten to fried chicken grease yet. david: that is the most popular. a lot of people in the company own more stock than you. you are the ceo. do you think you are underpaid? was that a problem for you? dara: i would never claim that i am underpaid. ♪ david: let's talk about some of your other businesses. you have your scooter business and electric bike business. the scooter business is all over the united states, around the world or? dara: it is in about 25 cities. expanding mostly in the u.s. but in europe as well. david: you have one that is manufactured for you? is it different from scooters other companies use? dara: we are building one that is manufactured for us. the bike is manufactured by sn designed by us, totally proprietary. david: some people say they are dangerous. what do you say about that?

david: a huge amount. alix: that's amazing. david: it cyber and compliance. they are basically trying to transfer about $160 billion from deutsche bank for the hedge fund brokerage unit. what are the problems? >> they are hitting some roadblocks because many of the clients of deutsche bank holding $1are billion a day to go elsewhere. that's putting pressure on deutsche bank to transfer not just the balance, but also the technology and supposedly potentially staff as well. according to people familiar with the matter will be sitting down with u.s. hedge fund to convince them to stay. they did this last week in europe. clearly an issue if you're trying to transfer balances. slowly -- day you are david: there is always difficulties you don't anticipate. let's turn to brain surgery. no, we are moving, let's go. >> easy enough. troy: what about brain surgery -- david: what about brain surgery and elon musk? >> this is unbelievable. they have been pretty secretive up until now. ony have mostly been working rats. they are not working on humans. they did issue a rese

david? david: jay powell appears before the house banking committee tomorrow followed by the senate on thursday. we welcome one of those will be asking the questions on the senate side, republican senator kevin cramer coming to us from capitol hill. thank you for being with us. sen. cramer: my pleasure. david: let's talk about what you hope to hear from jay powell on thursday and about interest rates. the president has been fairly outspoken saying he thinks interest rates are too high. we will put up a chart we use it bloomberg to indicate where the markets are. it says the markets think there is a 25 point basis cut coming down the pipe soon. what do you think the right answer to where interest rate should be is? sen. cramer: i think the right answer should be an inch -- should be an explanation of why. chairman powell and the fed have a very difficult task. while they are people of opinions, they are independent. the president has one view and obviously the street has a view. everybody lik

david: how has humor changed? are people laughing at the same things or are there certain things you can make fun of now and couldn't? lorne: there is almost nothing i did in the 1970's i could do now. david: are you ever worried there is a guest host not up to the task? lorne: yeah. david: how do you coach them to be ready? lorne: you can get almost anyone through it. david: what does it take to be a leader? lorne: if you are in power, everyone knows you're in a power, so don't ever have to explain you're in power. >> would you fix your tie, please? david: people wouldn't recognize me, but ok. just leave it this way? all right. ♪ david: i don't consider myself a journalist. nobody else would consider myself a journalist. i began to take on the life of being an interviewer even though i have a day job of running a private equity firm. how do you define leadership? what is it that makes somebody tick? did you think at the beginning that you were going to change television history and the history of comedy when yo

. ♪ david: this is "balance of power" on bloomberg television. i'm david westin. one hundred 80,000 members of britain's conservative party have been sending in their ballots by mail and the results are due to be announced on tuesday, with the winner succeeding theresa may as prime minister. we welcome our own emma chandra, who knows the ins and outs of british politics better than any of us. emma: the accent helps. david: all the polls are indicating boris johnson will win this. some reports that may be the polls are misleading, as they have in this country with donald trump. what are the chances jeremy hunt could pull this out? emma: i think it is very unlikely. boris johnson has been reading through the process to elect a new leader of the conservative party who will then become the next prime minister on wednesday. theresa may, who is still prime minister, will never last prime minister's questions to parliament. she will then visit the queen, resign, which will then allow the queen to invite the new leader. it is extremely likely to be boris johnson. we are h

david: this is david versus goliath. of course, in the bible, david won. in reality it's unlikely hong kong can stand up to china, is it? >> you never know, david. that's a very long question because essentially what you've got, people in hong kong have made a decision that they want to protect themselves, and china looks a little iffy right now. you just never, never know. david: well, this brings up the china talks because this seems to make the chinese even more desperate, what's happening in hong kong, for a deal with the united states. >> yes. first numbers for june are really bad in the manufacturing sector. david: they are in contraction, are they not? >> i think they could very well be in contraction, especially because may was a really bad month. you had, for instance, imports down 8.5%, showing very soft demand. the consumer numbers really showed contraction. right now, china as a whole, maybe 0% growth, if they're lucky, it's 1%. david: they are desperate. that's why they're anxious for some kind of deal with the united states. we saw some conce

david: congressman mark green, thank you so much. >> thank you, david. david: huge day on wall street, with all three major indices reaching record highs, the dow gained 77. nasdaq up 61, and s&p 99e aheady 13, previously eclipsing 3000 points for first time ever, u.s. stocks gained 125 billion dollars in market value for one day. putting total gains since election day at 9.9 trillion dollars. since election day, 2016, nasdaq up 58%. dow up more than 46%. and s&p is up 40%. >> coming up next, a new pro file of ilhan omar eposing how read radical freshman congresswoman wants that change america. >> terrifying video of a plane engine falling apart midflight. we talk all that up and more after a few quick messages. is just a button. ♪ that a speaker is just a speaker. ♪ or - that the journey can't be the destination. most people haven't driven a lincoln. discover the lincoln approach to craftsmanship at the lincoln summer invitation. right now, get 0% apr on all 2019 lincoln vehicles plus no payments for up to 90 days. only at your lincoln dealer. [ tex

david: what does it take to be a leader? lorne: if you are in power, everyone knows, so you don't have to explain. >> would you fix your tie, please? david: people wouldn't recognize me, but ok. just leave it this way? all right. ♪ i don't consider myself a journalist. nobody else would consider myself a journalist. i began to take on a life of being an interviewer even though i have a day job of running a private equity firm. how do you define leadership? what is it that makes somebody tick? did you think of the beginning that you were going to change television history and the history of comedy? lorne: i don't think i thought of it in those terms, but i thought if we got on the air, and did the show, that the people who were doing the show would stay home to watch. i thought there were enough people like us, because we all come from the audience. i was the person who had the most experienced in television, but most people it was the first time they had been on television. david: you were only 30 years old. the others wer

rachel: this is david. david: hi. i'm david. hello. athena: hi, david. lemonis: the goal here was to have athena take rachel through the commercial baking process, for her to see the efficiency and how the cost could be lower. but instead of rachel having an open mind and learning... rachel: i use fresh eggs, so i don't know if you -- athena: eggs come pasteurized in boxes. rachel: oh, oh, no. so, we use the fresh, and we have a machine that cracks them all. lemonis: ...she's arguing about the eggs... rachel: i have tried those eggs, and they don't taste as good. athena: no one will taste the difference. rachel: all right. we'll see. we'll see. lemonis: ...and the butter... rachel: i use salted butter, by the way. athena: you do salted butter? we're gonna get rid of that. rachel: no, it makes it so good, i'm telling you. athena: but you don't want to add that to -- you can control it. rachel: i know! i add it, too. i add salt, too. lemonis: ...which doesn't sound very constructive to me. athena: we're gonna do two versions of this. lemonis: we're gonna d

david? david: europe's leaders continue to negotiate over the first ever change out at the same time of their top three leaders. we welcome lorenzo condone you -- lorenzo codogno, coming to us today from london. thank you for being with us. let's start with the reporting we have heard. we just heard from rhea taddeo in brussels that nothing is done yet but they are getting closer and it may be christine lagarde is the new head of the ecb. you know anything about that, and what would it mean? lorenzo: i know her and certainly i very much appreciate what she has done, both as a french finance minister and as a leader at the imf. she did a good job. i think certainly, from a communication point of view, she will be up to the job and probably doing an excellent job in the future. she has also plenty of experience in terms of policymaking, which is certainly useful in that position. , i have challenging bit to say replacing mario draghi will be challenging for anyone. from her point of view, i wo

david? >> david: this is a real tough one. acosta was approved by 60 votes in the senate for his confirmation as secretary. that includes eight democrats, by the way. we knew about the decisions he made and that through a snake case. but it all changed without mine and "miami herald" report back in november. the report that showed the degree to which the law was bent a little bit. everything was done legally, but at the influence of -- >> melissa: but the sticking point was the victim's. >> harris: that's what everybody comes back. >> david: that's with a "miami herald" focused on. more than any other piece of reporting in the past year, that piece of reporting deserves a pulitzer prize of the very least. because that not only did a lot for america's understanding of the case, but it really changed the epstein case entirely and because the southern district of new york to bring it up again. even acosta, a meet and look ridiculous when he said, i approve of what this of a district was doing." some of it should have been done ba

david? david: thanks, mark. bipartisanship roque out with washington this week, where the president announced a deal with both parties to lift the deabt limit for the next two years. we welcome now a member of the senate budget committee, ravenna public and senator mike braun from indiana. great to have you with us. sen braun: good to be on, david. david: for a couple of years we will not have to deal with this, but at the same time it came at a cost. was it a good deal, despite the fact we are running up the deficit? sen braun: the benefit of being a freshman legislator now, i was one back in indiana about four years ago. i know how the system works. i come from main street as an entrepreneur, and of course we do things more quickly. get the problems way ahead, unless the marketplace -- or else the marketplace takes you out. i was disappointed. they knew where my vote was going to be when i got here in the first place. i voted on -- i ran on trying to make this place run more like main street. it was such a cou

david? david: today, president trump moves to end asylum protections for most central american migrants under a new rule published tomorrow. people who do not apply for asylum in another country before coming to united states will be ineligible for asylum in the united states. we welcome ken cuccinelli, acting director of u.s. citizenship and immigration security, which is a division of homeland security. i want to talk about what regulation does. i have heard three different descriptions. to whom does it apply and to whom does it not apply. ken: it applies to those coming across our southern border who have not applied for asylum and a country they are passed through on the way united states. not mexico, for instance, because they are next-door, but for those beyond mexico, they are required to apply and then be denied and prove they could be denied asylum. asylum is about safety. response toart in the quadrupling of asylum cases we are seeing that is tied in to the crisis we are facing at

david: congressman mark green, thank you so much. >> thank you, david. david: huge day on wall street, with all three major indices reaching record highs, the dow gained 77. nasdaq up 61, and s&p 99e aheady 13, previously eclipsing 3000 points for first time ever, u.s. stocks gained 125 billion dollars in market value for one day. putting total gains since election day at 9.9 trillion dollars. since election day, 2016, nasdaq up 58%. dow up more than 46%. and s&p is up 40%. >> coming up next, a new pro file of ilhan omar eposing how read radical freshman congresswoman wants that change america. >> terrifying video of a plane engine falling apart midflight. we talk all that up and more after a david: major legal victory today for president trump, federal appeals court dismissing maryland and district of columbia la lawsuit that presidt is profiting from foreign visitors staying in the trump hotels. -- president trump tweeted: >> more hypocrisy from not so middle class joe. >> imagine, what we could do, we don't have to hurt anyone by eliminating, we don't

david? david: thanks, mark. now at update on fundraising for candidates, and i campaign says it has raised $24.5 million since entering the race and bernie sanders has been well peted $14 million and buttigieg raised $40 million and that the other end is michael just $2.8o raised million. turning now to another democratic presidential candidate. spent a lifetime in public service. first as a naval officer who went from graduating number two in his class device admiral over 31 years and then he ran for public office. serving the congressional district in pennsylvania for two terms, he leads first global, a promoting stem education in high school. admiral sestak, welcome, good to have you with us. >> good to be back, thanks. you are in the race now, a little late, because of home,al situations back but you are in now. tell us why. admiral sestak: the nation has upen me experience to stop -- stop our retreat from the world. a number of them were just brought up just before you him on. someone who can answer the mos

david: nothing, zip, zero. a huge win for president trump as the supreme court clears the way for the trump administration to use military fund for a border wall. we have the late-breaking details on that. here is something you don't see he day. a raw chicken coming back to life. trish regan primetime begins right now. i'm david asman in for trish regan. house democrats filing an application in court to open ebb more investigations into president trump. democrats are not letting go. in fact they are doubling down. house judiciary chairmanniery nadler says the democrats need to see the russia probe's grand jury material and that could lead to impeachment. >> the house of representatives is the only institution of the federal government to hold president trump accountable for these actions. to do so we must have access to all the record. to a recommendation of articles of impeachment. david: nancy pelosi for her part seems sceptical and promises democrats won't move forward without a solid case. >> we will procee

david asman in for stuart. david, take it away. david: i got to second the emotion of charles payne on this market and what's happening with the economy. i think it's great news. thank you, charles. thank you, deirdre. good stuff. >>> good morning, everyone. i'm david asman in for stuart. good news, he's back next week. here's the big story of the day. a big happy surprise jobs report. 224,000 jobs added in june. the bean counters only expected 160,000. wages were up 3.1% over the last 12 months. that is one tick less than expected but still very positive. 335,000 people re-entering the work force, that is why the unemployment rate actually ticked up. check market futures, they are heading lower this morning. a lot of that of course has to do with the fed. that's after the markets hit record highs on thursday -- on wednesday, forgive me, before the july 4th break. and the dow, nasdaq and s&p 500 all in uncharted territory, still close to record highs despite looking down in the futures. >>> president trump's salute to america speec