them mainly large infrastructure projects and you build the questionable power plants panels to barclays bank and bridges to. where there is some truth to the paper don't you get it sounds real contribution to our efforts are not going to stop is to be stable and to allow an unfettered the overflight in transit trying to force you to. reach their critics have done and failing to be. ok so we have another one there which is so it's kind of fun it's about see how the united states is trying to rear their. mate curiously your local media more pro-american. and i'll do they want to do that so there goes in addition to over to the public diplomacy other complimentary efforts could be of both rights such as aggressive media campaign through the russian media as well as placing themselves are the girls in the major russian newspaper papers read in central asia. and sure the day of the tourist see the posted material from russian media and pay them if necessary to reprint it and because we know so maybe they will publish your positive very russian positive material about united states and they're goi

them mainly large infrastructure projects and you build the questionable power plants titles to barclays bank and bridges to. where there is some trace to make the biggest as real contribution to our efforts in afghanistan is to be stable and to allow an unfettered to overfly going transit driver for you to. reach the critics have done and failing to. ok so we have another one there which is so it's kind of fun it's about how the united states is trying to rear their. mate curiously your local media more pro-american. and i'll do they want to do that so there goes in addition to over to the public diplomacy other complimentary efforts could be of both right such as aggressive media campaign through the russian media as well as placements of our the girls in the major russian newspaper your papers read in central asia. ensure the day that there is and see the positive material from russian media and pay them if necessary to reprint it and because we know they they will publish it positive very russian positive material about united states and they're going to get that all every muscle group an

barclays bank of scotland lloyds j.p. morgan goldman sachs that were they were they factor into the dirty wars and this is just a big you know to travel video what he should be like that guy does cooking around the world at the port anthony boarding should be germy scale should be doing some couscous and cabin and doing a cooking show for all of for all we care about him digging down into the true causes of what's happening and there's all this true dirty war instead of roadkill like there's that road kill cook chef you have on chef it should be drunk don't you know we had our mistake no there isn't a pretty good have another outfit on it in other words your guy and more mascara and he could be like oh it's don't kill you know as actually i'm going to give him this red pepper and we're going to send it to him as a first episode of this traveling. right it's cook wars with jeremy scahill ok well stacy we got to go. and that's going to do it for this edition of the kaiser report with me max kaiser and stacy everett i want t

ok so let's go back to apartheid remember the boycott that broke the spine of apartheid was the barclays bank boycott people and the pension funds in the institutional business they were pulling money from barclays and barclays put in motion the end of apartheid through to that bank that was seen as underwriting the new regime of apartheid in south africa so here you have a just b.c. in bed with hezbollah they just be saying not only do they blow in the money from mexican drug cartels not only do they rip people off on the high street around the world and they are there you know they're not america they're not the world's local bank they're the world's local terrorist financing organization essentially so you have them financing as below. what is this room is israel coming out and saying we're against a just b. c. financing i was blown up i know because you're too close to this a film a russian letters a thing the u.s. doesn't care as i point out that h.s.b.c. was also financing al qaeda so it's as it's about kickbacks is about future job prospects that the war on terror is a money spinner as

campaign also group to target other corporations of apartheid south africa including general motors, barclays bankg others. >> for more we go to new orleans where we're joined by caroline hunter for the young chemist who was working for the polaroid corporation in 1970 when she stumbled upon evidence that her employer was providing the camera systems to produce photographs for the infamous pass books. along with her partner ken williams, she formed the polaroid workers revolutionary movement to campaign for boycott. by 1977, polaroid finally withdrew from south africa. caroline hunter, welcome to democracy now! >> good morning. >> your thoughts, first about that movement back then, the action of polaroid to your questions and your concerns and especially now in this week after the death of nelson mandela? >> polaroid pretended they did not know what was going on in south africa. 1937olaroid was founded in . in 1938, they opened their first is to readership in south africa. reflecting on the death of mandela, i think we have lost one of the greatest human beings who has ever lived. we must learn fr

what's interesting is that if you look at what's happening in the uk right now to hsbc barclays lloyds the royal bank of scotland to take it there there participating in the exactly the same fraud with the help and participation of the bank of england. it's a program called quantitative easing where they signed to bank loans the commercial banks to buy stock or bonds in this case in the central bank said they are doing the exact same thing that in iceland is a crime. i think because iceland russia iran and china are all banking systems that are outside of the control of the federated reserve bank of america or the bank of england in the uk. they are free to prosecute financial crimes. we don't have that freedom in the uk because the backers are protected by the bank of international settlements in switzerland the federal reserve in new york to pollute on a global basis to line the pockets of the criminals in this case so the bankers in the uk in america. and of course economies are suffering catastrophic lee as a result of this poverty is on the rise and living standards in the uk are crash saying wo

government for example is been co-opted by barclays and royal bank of scotland in particular was just caught targeting small businesses for a death where they were setting small businesses up to fail so that one of their affiliates could swoop in and buy assets for pennies on the dollar so rb ass is acting as a what i call a financial terrorist with the full cooperation of david cameron george osborne and mark carney the head of the bank of england so they are fully engaged in the confiscation of wealth using what i call financial apartheid and other tricks to essentially steal the wealth from the from the vast majority for the benefit of a very few on the inside a code array of bankers who work globally but not in iceland iceland have the courage to do what we've seen in some other territories by prosecuting bankers in vietnam recently a banker caught committing financial crimes was executed now there needs to be a deterrent against financial fraud of this magnitude capital punishment seems maybe to be a good idea if it will deter bankers from committing acts of financial terrorism i

looking for. >> one barclays did this deal in south africa -- when barclays did this deal in south africa, not the focus for very many --opean bankslays has a strong presence. it bought a 55% stake, but then it sold its africa operations. it is complex. a is focused on africa as whole as opposed to one territory. >> a famous cuban ballet dancer noworried that he has successor. ♪ >> we are just over an hour from the start of most european trading. caroline hyde is here. heart, it is a bit of a chicken and egg situation. this is in the daily telegraph. trying to convince the u.k. , they ship most of theirs to european -- eastern europe. not livereason we do the wonky fruit, it is sent back to the farmers. the quality is still there, but it looks a bit weird. >> they have fabulous tomatoes. but they are a bit knob lee around the edges. who cares? >> why was it so empty? >> it was raining. it was quite cold. public transport and getting into the stadium was very difficult. >> you are ridiculing me for fie.ng taken a sel >> the other person who received criticism was jacob zuma. he was booed every time he was on the screen. he asked th

banks are selling commodity units. what are you looking at? what assets are on the block? some have been great. we bought natural gas partners from barclays, so all these banks have been preparing for dodd/frank and its impacts. today we're continuing to look at some but none i can talk about now. >> okay. i want to talk a little bit more about the emerging markets because we saw some pullback, some very strong pullbacks earlier in the year on reports that the freg federal reserve could taper by the end of this year. you have a lot of presence in the emerging markets. you started investing in china over a decade ago. what are some of the unintended effects of the taper that you could feel in your businesses there? >> i think tapering could really hurt the emerging markets. when the threat of tapering was here in the summer the emerging markets equities went down, debt went down, currencies went down. hopefully they'll be better prepared for it this time although i still think it can be rocky. of course the biggest emerging markets is kind of europe which i think will do okay with the tapering. we've been very active there lately. it's bee

is, banks like lloyd's, barclays and hsbc, there is an argument that you should value us more highly e question is, can you achieve that? it all tends to come together. >> thank you very much indeed. mr. wheeler joining us from medio bangka. what do we have coming up for you? miley cyrus and pope francis. what do they have in common? you don't see them found this very often but they are on the shortlist for time's person of the year. we will tell you who else is in the running. that is coming up next. ♪ >> welcome back. you are watching "the pulse." we have some breaking news for you. bmwooks as if he and w -- is considering building engines in north america. that is fairly significant for this business. it could be mexico, the united states, we don't know the details of this. the bloomberg team is learning that this is becoming an increasing possibility and may be announced in 2014. the north american market, extremely popular when it comes to bmw's and what the company is trying to do is hedge out the currency risk. it is one of the factors that it certainly needs to think about. it

barclay's not fined because it was in the types. deutsche banke general ooet, all settled the approval case and we had others from jpmorgan, citigroup, rp martin all fine inned in the libor report. [ speaking foreign language ]. there were discussions about the ju upcoming submissions. libor and in one case in these yen the cartel. euro/yen. the tokyo interest rate is an interest rate -- as i said before, it's a benchmark. the aim of the stocks between traders was to increase their banks' profits and in turn their own wallet. they had sensitive information of the type competitors normally keep secret. i repeat that officials have opted today and the euro and the yen cases are daesed to the companies that have agreed to settle with us. these companies have decided to turn the page and ignore their wrongdoing and their eu competition load. as a result, the vinvestigation was shorter than it would have been otherwise and there are two of the three capital settlements the commission has concluded in this to settle in an investigation that was introdu

the libor rigging scandal broke last year-- barclays paid $450 million after being accued of manipulating bank to bank lending rates. u.s. banks are also under scrutiny for failing to follow orders from the government. bank of america and citigroup are accused of failing to follow provisions related to a government settlement to improve mortgage misbehavior. earlier this year the two banks, along with jpmorgan and wells fargo were all required to improve customer service within mortgage divisions. however, b of a and citigroup both fell short of the settlement terms. reuters reports the two banks are now working to fix the problems. new homes are moving on an off the market at a faster pace. following three months of sluggish sales... new home sales climbed a surprising 25% in october. the largest leap since 1980. "the big jump in new home sales this week is a little misleading. even though month over month new home sales were up 25% there have actually been some pretty big revisions to that number in recent months. and its a number that is typcially volatile. it bounces around alot month to m

banking. diamond left barclays last year after the bank was fined for manipulating libor. >>> a number of storiesr about health care. insurance agents are feeling left out of obama care. and the article uses the example of one agent who helped work with a hot line to pick a mid-level health plan. but refused to credit the man as an agent on the application, that means he wouldn't get his commission or be listed as the follow-up contact. then there's the story all over the place. cedar sinai aren't covered. the best -- they think they're too expensive -- and the journal, the deductibles on some of these of people that don't have a lot of access to money are going to be really, really high too. you know, the glitches on the obama care website, that's just -- that is the very first. but there's back end glitches too. >>> other washington stories this morning. this is the final week of 2013 where both houses of congress are scheduled to be in session at the same time. optimism for a budget deal. house and senate negotiators are reportedly putting the finishing touches on a compromise. to reduce the d

banks are said to be racing to betray their competitors to avoid possible eu fines. the penalties relate to rating a foreign exchange markets. ubs and barclaysd more than -- avoided fines by blowing the whistle on benchmarks. more banks are said to be volunteering information on fx markets. china's money market rates surged as fund injections by the central bank failed to alleviate the worst cash crunch since june. the seven-day purchase rates rose by 100 basis points to a six-month high. gauge of liquidity in the financial system. european union has lost its top credit rating from standard & poor's. it citedgs agency says its worst financial profile for the downgrade. s&p cut its long term rating to aa plus run the coveted aaa. for more on that story, let's had to a between. he is live from berlin. -- how muchs the eu do we actually care about this? >> i think we care about this because i think the timing of the downgrade coming from s&p is absolutely impeccable. what is happening at the moment, they eu leaders are meeting in brussels. this is an absolute message to eu leaders the way i am looking at it. two reasons for the downgrade -- one

bank's target range. joining us now, regional economist from barclay's in singapore. thanks so much for joining us. this was a higher number, but less than the central bank expected. will they look right through it? >> our thought is they're going to look thigh supply side inflation. i think in terms of the numbers for the year as a whole, inflation will be averaging 3%. very comfortably to what the bottom of the inflation target would stand at 3% to 5% for the central bank this year. >> the down side surprise driven by lower than expected food price rises and lower transportation costs, now the government has frozen food pric pric prices. so are these only temporary? >> our sense going into next year, you will see some pick up in food prices. it tends to be seasonal. going into next year, we're expecting inflation to easily average 4.3%, which would be towards the top end of the inflation target and we therefore think that the central bank would be hiking basis points into 2014. >> we've got sharp rises in utility prices, as well. there is a view of whether that -- that surely is a crimp on economi

some of jobs, they're going to be down as much as 20% and even more, barclays as much as 30% -- liz: by the way, that's a u.k. bankut barcap is a u.s. subsidiary, and a lot of it's the old remnants of lehman brothers. hasn't worked out so well. they have two different sort of issues. don't go anywhere with that booze. [laughter] there's two issues here. the citigroup issue i is this, i think. they are ratcheting back their security business. they are not -- liz: i'm asking for the charlie breaks it -- >> they're not competing with jpmorgan, some of the other banks. they're, you know, they're not doing much in the u.s., so, you know, they like it that way. mike corbett is basically running a toll road, you know? you come there, you put your checking account, he takes a fee. they don't do much else, and they cut a lot of costs. that's what mike corbett's doing. a business model, take it for what it's worth. barclays is owned by the brits, and i think they've been beset by scandals, particularly the libor price fixing scandal, the manipulation i should point out, and that's why they're ratcheting back their bonuses a

the ceo of barclays as it may take a decade to rebuild trust in the bank.anthony jake and saying the company will need to see change at the bank before to begin to rebuild following the libor scandal. news.s today's company >> let's do a deer's the twitter question -- new year's eve twitter question. what are you looking forward to in 2014? maybe a repeat of the boston red sox world series. new tvlooking forward to shows or the return of tv shows. "scandal" will return early next year. abbey."n to i my resolution for me, fewer vacation days. >> you only take, like, 2. that dustinmount made.'s first movie his new movie barely made a dent. if you missed any of our interviews, you can now watch them on apple tv. ♪ >> good morning, "bloomberg surveillance." has darkened the door of times square. she has -- i don't know what she has. >> i call it nowhere near times square this evening. i'm a new yorker. i've never been there. let's talk about a record year we've had. for stocks and hollywood. domestic box office receipts are closing out 2013 with the new record.

bank. they of course have said they're going to ban more of their traders from operating in chat rooms. note that u.p.s. and barclaysndard charter that makes most of its money in asia is warning of a slowdown particularly in south korea on consumer banking. finally an appeal for investors in this country to buy 40% of the euro star rail service from the british government. this of course is the train service that runs under the channel tunnel through from london to paris and brussels, 40% owned by the british government. they want to sell off that 40% as part of a thatcheresque sales of state asset sales. >> not a cheap trip, simon. >> have you use td? >> yes. it's a couple hundred euros each way. >> a great ride, though. >> my trick when i was doing the summit for cnbc europe, i'm traveling through the night, you need to upgrade me. you get a great meal, three courses, all the wine you can drink. >> my fear is always, if the train breaks midway, you've got a long walk to get to the outside. >> by the way, the french government owns the other 60% so you might not want to get in bed with it that regularly. >> i hope

lloyd's banking ceo took a nine week loop week of absence for exhaustion. >> barclays head of complianceott took a break from the sport due to stress. what is the solution? many increasingly say meditation. >> joining us now with tips on how to relax your mind is a buddhist monk turned circus performer, turned app developer. ncludeients in qua gwyneth paltrow. >> if you look inside the the single thing executives but their success down to is meditation. it is been there a long time but is only now starting to become more socially acceptable. >> you're bringing it to the masses. your app on the itunes store has become a best-selling life and -- lifestyle app is out there. >> we have done well. we are well over 750,000 people using it now. 150 differente in countries. >> happy with the performance so far this year. there is a science in this. we're able to scan the brain in ways we haven't before and we can understand the implications of what meditation actually does and how changes patterns at different points in the brain. whenever learned recently? the early adopters out running on the

banks and a costly program. it negotiates with its critters. detroit had initially secured a loan from barclay'srt of which would be used to end the swap agreements with ubs and merrill lynch at 75 cents on the dollar. the swaps hnd intended to hedge risks for a portion of pension debts sold in 2005 and 20 06. the deal was reached after two days of mediation. this week, the bankruptcy just judge still has to approve it. now, a big loss for bp. some do not have to reduce their economic losses in order to collect on a settlement agreement. those businesses only have to show a certain pattern of losses. the judge says bp's request was a reversal of a previous interpretation of the settlement inconsistent with its previous position. now, bp originally projected a settlement with businesses and individuals could cost $2.8 billion dollars. in october, it boosted that estimate to $9.2 billion and said the number could grow significantly higher. >> some of the other top headlines for today, some presents didn't show up under the tree in time. fedex and u.p.s. both confessed to delivery problems. the car

. >> here is barclay saying fedex is further up side. deutsche bank raised target.gest day of shipping of the year, ups tells us. there is so much love for fedex, almost like a twitter thing. it is really well-run and been around for a long time. >> it is the busiest day of the year for shipping, biggest pick-up day. tens of millions of packages are going to get picked up. >> lexington realty trust celebrating the company's 20th anniversary. over at the nasdaq, looks like society general doing the honors. you wouldn't know that from the promptor. >> i am worried about sock gen. >> their exposure to a lot of other companies in europe, italy. was it two years ago? remember, italian rates were soaring. >> there is still an italian bank that's in trouble. their benefit. they have been able to refinance. we still don't like france. france is one of the slowest growing. i think it is incredible to see the resurrection of a socgen being the achilles heel. >> i have seen a lot more retail here in new york city. i don't know if you noticed that. >> bbva is doing incredibly w

barclays in the downsizing of. there will be -- particularly major cutbacks and a bonus reductions. the other thing is layoffs. the impression i get is the firms are right, the banks are right size to except in this one area which is where they're talking about more cuts. liz: earlier reporting that something like 11 different commodities will and lower for the year. the cycle is over. this is more cme and nymex seat or some of those. >> yyu know, the jury to go in and out. the trades go in and out. that may be rotating out. i don't think -- that does that have -- liz: convertible bonds. mortgage-backed securities, things like that. it seems like there is still a market. >> it came back somewhat. as you know, they are making money and also securitized still corporate bond. but here is the thing. the rising interest-rate environment. it is hard. listen. it is hard to gain these markets. you know what i am saying? sometimes a start to go up. high-yield bond. when the markets are up sometimes that is reflected in junk bond prices as well. so i won't tell you a market player. the street is looking to cut. it looks like it is in this play. >> a ton. they take their bon

barclays came out today. ubs, goldman sachs, came out with bullish reports. bullish reports do you agree and what will the volcker rule to the banks is nynex question? >> talk about the volcker rule for a second. one thing we have to be careful about. the volcker rule will be decided next couple days. we'll get good details about it. the thing isn't implemented until 2015. it will be a lot of time to lobby away sharp edges. people need to look at financials as maybe a buying opportunity. but the real rule, the teeth of it won't happen for a year. so i wouldn't take too much, i wouldn't worry too much about that one in the short run however if i were looking at future trying to predict what would happen in 2014 it will be the put up or shut up year. really, we have been leading up all the way up into the end of this year with positive economic data. the fed has been very, very accommodative. once they start tapering the economy is either going to do super well and taper was the right decision or it will do poorly and they let go of stimulus early. the reason people are bullish, people really believe the data is supportive of econom

bank wants to see what the fed does. joining us for the next half hour, julian callo, chief international economist at barclay's. julian, nice to see you. they have a farther fwiel economy and an inflation problem. do you think they will wait to see what pressure comes? >> yes. we saw that clearly during q2 q3. whether or not the fed is going to announce tapering tonight or give some understand occasion of it coming fairly soon, it's going to be critical for the rupee and the strategy for the bank of india. i think at the same time the economy has, to me, shown some signs of picking up led by exports. and that's very encouraging. and i think it may be a little bit overlooked. but india has been printing some surprisingly good export data recently. in fact, in the third quarter, it's current account deficit was less than 1% of gdp. it was calculated about 0.6% gdp only on a seasonally adjusted basis. now, there might have been some special factors in the export data from india in the third quarter. but still, if you look at the latest data for october, for example, you can see the numbers are still quite strong.