what representation has her majesty's government made to barclays bank and what are we going to do if asks an important point. does this set a precedence? i certainly hope it does not. i would like to think those customers who are affected will reflect on whether they should continue banking with barclays, and i'm fully aware of the issues which are faced by those in rural communities of which he speaks. the idea of changing a bank is actually a bit more daunting than he suggested. and particularly if you are struggling on a daily basis to stay out of the red, the idea of going to a new bank can be intimidating. it seems that some banks are only interested in big, cashless customers that have large deposits and not really anybody else. i understand some of the major banks are making it extremely difficult for small organisations to retain their bank perhaps the prime minister can write to the general of barclays bank on this matter and perhaps with a signature of the bottom of the letter gone. laughter. very good question the noble lord asked. i will certainly have that discussion and

a warning from barclays. the bank confirms its 2019 profit target, but jes staley tells bloomberg the outlook will be a challenge from here. currenten the interest-rate view across europe and the u.k., now the u.s. as well and if we have economic profits, we need to put some caution against the 10% target for 2020. anna: and shipping costs invite. drop as ares quarterly profit decline due to same-day delivery. jeff bezos says it is a long-term plan. good morning. matt: good morning. let's take a look at futures this morning after amazon came a push foret's say investment and growth over profits. the first time in two years we have seen profits drop over two years. dax futures unchanged. as our ftse futures. cap futures rising a little bit. no real indication as to what kind of day we will have an terms of futures. let's take a look at u.s. futures and see what we can get across the pond. they are all green arrows, but dow jones futures really little changed as well. sentiment dorisk you see in the gmm? anna: things lo

bank did quite badly. barclays did very well. l in domestic retail banking, and barclays did kind of mediocre. these two banks so far aren't really giving us any real direction, but i think what we will see overall is a bit of softness in domestic markets, a ,iny bit of growth there loan volume up, and on the investment banking side in the european market, things do not look so great. we seen some downturn there, a big downturn in ipo activity, trading volumes have been flat a bit. so far, we haven't seen much of a direction, but i think it will be that investment banking and europe will draw things down, and domestic and corporate will be kind of flat and down slightly overall. romaine: are you a little concerned that we didn't hear more with regards to cost-cutting? octavio: well, i think if you look at all the big banks, they are still very much focused on cost-cutting. that is the one leverage point they have. certainly if you look at barclays, they were quite successful in keeping costs under control, certainly domestically i

saw in the prior site, the $100 million state street bank facility, and the 100 million-dollar barclay bank facility expire later this month. with today's action, he would be approving a $200 million amended facility with state street bank with one extending its existing $100 million facility and replaces their 100 million-dollar berkeley facility. this transaction was included in the capital financing plan that was just presented to you earlier today. state street was selected after a competitive rfp procurement process with six a bank. their proposal represented the lowest cost responsive proposal. the key terms or for your time and an annual fee of 0.32% or six on a $40 per year over the four-year term. an option to extend for an additional year, one additional year as long as the fee doesn't exceed $800,000. the bank was selected because of its strong ratings and credit this is my favorite part of my job, i would like to report that state street proposal is -- there fee is lower than the fees before it and berkeley has been charging for the facilities that are about to expire. by approv

yesterday barclays became the first bank to opt out of that agreement. sh so firstly 99% of them are already transacting on a one kilometre atm. we have found a group of potentially vulnerable customers and what is important for them is to continue to get cash over—the—counter at the post office. we offer service where they can write a cheque and get cash over—the—counter. we have solutions in place that will work for all of our customers and end of the long—term. our customers and end of the long-term. write a check, remember that? they can also get cashback at a local retailer but nonetheless, the point is, if you don't like it move. quite a substantial number of matt barkley ‘s you can move to another bank that still offers that service. —— steel at berkeley ‘s. they turned down a contract with the beatles manager brian epstein. knocked back the manager of the kinks. and said no to touring with chuck berry. they were four girls from liverpool who became known as the world's first all—girl rock and roll band, and they did it all on their own terms — eve

boost for the shares coming from barclay'' third quarter earnings report, outperforming all but jp morgan and its wall street peers. compare it to the average wall street bank. if we look at this in absolute figures, barclays would be at the bottom of the pile. it's trading revenue some $1.4 billion, compared to jp morgan. nevertheless, the rebound in the investment bank a big win for geo -- for ceo jes staley, really allowing him to stick to his targets for return on tangible equities. today, he really struck a --tious tone the neck cautious tone saying the outlook for the next year is weaker than a year ago come particularly around the u.k. economy in the low interest rate environment. he also talked about concern about brexit, which remains unresolved. staley saying it is having an impact on merger activity and underwriting. if we list up the board, we can see how barclays is performing compared with u.k. peers. investors became more optimistic about brexit area nevertheless, barclays gaining more than 11% this year on the ftse 100. that is your start of the hour. romaine: our thanks to a much hundred. still ahead, gold. more on that as we head over to t

banks. rbs starting up. barclay is up 2.1% international exposed banks slightly negative. there you have it, domestic exposed banks outperforming today. there you go with the brexit demand for housing. you can see today taylor up 2.5% and barrett up as well so strong day for home builders. but we have all the brexit angels covered for you today we are live in westminster and brussels let's start with steve does the government have the numbers to push through the vote it doesn't seem like some of the former tory independents have what they need which could be a problem. >> we've had correspondence on this a lot of people thought it was possible for boris johnson to get another deal he's got a major tick. can he achievethat full backing. given that the numbers could look very challenging. in brussels, he is lauding the fact that it is great for great britain, it takes away the backstop and gives the country as a whole a route forward one that the eu is keen to hear. let's hear from the prime minister in brussels yesterday >> a very good case for the mps to express the democr

bank. we also have barclays, society general and citigroup also announcing job cuts this year. —— german lenderer business stories. talks to resolve a damaging strike at the us car giant gm have broken down. negotiations between general motors and the united auto workers union stalled on sunday, with diagreement over pay and job security. so far the strike action has cost gm $1 billion in earnings. flights bringing back the remaining 4,800 thomas cook holidaymakers took off on sunday. the uk's civil aviation authority launched its operation matterhorn plan after the tour firm collapsed, and has handled the return of almost 150,000 people. nissan is struggling to fill the leadership vacuum left by the arrest of carlos ghosn. it's reported a rift has emerged between the top executives trying to choose the next leader. nissan's board is expected to meet on tuesday to discuss who will take on the role. a quick look again at the financial markets. i want to mention that in asia today, markets are closed in hong kong, china and sydney, so that has limited trade in asia. the hang seng and the all ordi

of jobs as a plan to reduce its headcount by $10000.00 so far this year deutsche bank credit suisse goldman sachs barclays wells fargo and citi group were among the banks that have reported to the shed a total of over $60000.00 roles these banks are in an increasingly complex and challenging global environment amid low interest rates trade disputes and brags that the escalating trade war between china and the u.s. threatens to weaken trade as investment flows between china and the west which are crucial to species business come under pressure most of the roles have that have been terminated are within the investment banking and trading divisions as a bank faces deteriorating fundamentals these cuts come amid a change in leadership as interim c.e.o. noel quinn plans to restructure the bank. facebook's libra continue to run into roadblocks and regulatory backlash from governments worldwide while the team pushes on words key members of the libor association are having doubts and dropping out pay pal is the 1st company to officially drop out and rumors are that visa and master card are uncertain about the pro

bank do you get excited about? what do you think is the best opportunity for barclays in this economic advisor meant? ok at the investment bank is that we are across all asset classes in all markets. i don't think you can pick and choose a vertical in investment bank. you need to serve the full range of buy side clients and offer clients a full range of debt and equity capital markets services. we have a bold bracket investment banking position in new york and europe. the two biggest capital markets in the world. we are a strong european alternative to the u.s. banks and i feel comfortable we can compete with them. i like how we are positioned. lisa: that was barclays ceo jes staley speaking with bloomberg earlier. it is time for the single best chart, brian levitt still with us. this too may really catches my attention. this chart is of all auto loans in the united states, the total volume outstanding. record see it reaching a $1.3 trillion. the reason why i find this so interesting is because even though everyone points to the strength of the consumer, they are levering up in areas that are not prov

bank delivered strong quarter. revenue was much better -- cib revenue was much better. which opportunity do you get excited about? what is the best opportunity for barclaysnvironment? characteristic i feel best about when i look at the investment bank is we are across all asset classes in markets. i don't think you can pick and choose a vertical in investment bank. you need to serve full range of by side clients, offer corporate clients full range of advisory, debt capital markets, equity capital market services. we do that. we have a full bracket position in new york and europe. two deepest capital markets in the world. i think we are a strong european alternative to the u.s. banks. i feel comfortable we can compete with them. ibike our position in the and the breadth of our business model. insight's get some more into the outlook for barclays. london finance editor, keith campbell onset. stocks had a good close. feeling confident. warning about next year. has a few concerns. big story, the battle with branson. said his strategy was wrong. feeling pretty good. keith: he has got to be. he was deadpan. he is trying to rein in excess enthusiasm but he has

it rallied so hard on friday maybe giving a little bit of that back today and then some of the banks, barclaysnder. and some of your local companies, it's only down half of a per cent. now, european markets opening lower. this follows signs of progress in the u.s.-china trade negotiations. but sent meant was capped as investors voiced skepticism on the according. joining me now is max ketner. we are kept cal by nature. some of it cynical as well. don't buy into this handshake agreement as much as it looked like markets did in the u.s. on friday. who's right. question how a far can stocks go on just a handshake? that implies an answer, not really that far. >> i don't think it's going to outclick it on a growth perspective and also on a investment pro speculative. >> people get utterly excited about these kind of things. if we sit back and say what about the necknology. what about the december tariffed. we have another one where basically we're not quite sure how to enforce all the agreements that we've seen or the preagreements that we've seen so far. so there remains to be a lot of uncertainti

bank do you really get excited about? what do you think is the best opportunity for barclays in this environment? e characteristic about when iest look at the investment bank is that we are across all asset classes in all markets. i don't think you can pick and choose a vertical in an investment bank. you need a full range of clients. you need to offer your corporate clients a full range of advice -- services. i think we do that. we have a bold bracket investment banking position in new york and in europe. the two deepest capital markets in the world. i think we are really a strong european alternative to the u.s. banks. i feel quite comfortable we can compete with them. i like how we are positioned and the growth of our business model. nejra: can you give us an update on cost cuts? we understand today that you are still targeting those cost cuts below the lower end of the range. how are you expecting to achieve that? you look at the run rate cost basis, we are well on our way to delivering 13 point 6 billion pounds of cost for the year. that was the low end of our range. so long as we maintain th

for fossil fuel companies demonstrators blocked streets and held banners at sites like the bank of england barclays and blackrock. letter is the world's biggest asset manager and activists say it has brbroad power to influence the companies investing. in no immediate comment from the firm the way these kinds protests are just limited to london we'v've seen extinction rebellin set up camp in paris prague and elsewhere mark group is halfway through two weeks of civil disobedience trying to highlight the risks. of climate change. coastline of the business thank you very much indeed more of course on the oldest stories as they happen thank you all very much date. it's cross sedia james creating the weights with that media watching good evening to you sir. i'm i you'd be lookingng at reactions to the fronts jim the melon schooling or rather canceling arms sales. to turkey czech republic those who join that list like but not the united kingdom. yes i'm so lots of comments on that specific angle on what's been happening between terry and syria. to turkey and syria but just to focus on reactions. at all re

particular, goldman was touting this saying, boy, it's fertile ground in asia, especially with barclays and deutsche bank and others >> finally david solomon is catching up, better late than never. at the same time, morgan stanley had an improvement in the pre-tax business in the wealth business >> i think david solomon is doing a great is job he's taking the necessary steps that you have to take and he's got a vision that goes out look, they've been -- i was talking at one of their senior partners there you mentioned it, they're saying, look, instead of waiting a year or two years, let's talk about you leaving now. so that frees up the rung -- the rungs on the ladder for others to move up, which is what you want, right? they've combined some businesses as well. so they're taking costs out and they're trying to increase their synergies. those take a while to play out but you can't count goldman out. >> mike, really quick because citi is one of the names you talk about all the time. do they return the price to book like back in 2007, 1.6 range, or are they stuck right now >> we think the citigroup stock w

banks should pay for it failures say mps. yes, absolutely. massively overdue in my opinion. this is something that has blighted the sector for some time. massive disruptions with barclays. to take financial responsibility for these outages especially in the day and age where digital banking is the i'ioi'iti. age where digital banking is the norm. and they are encouraging people to go down that road. for some people it might be a question of you cannot get money out that you might need just to do a bit of shopping or whatever but for other people... businesses. it has a real impact on your life in that we of course there should be some recompense. whenever there is an instance like this it is always big businesses that we hear about. ftse 100 companies that are affected by these outages, but think about small businesses as well. they are the economic backbone of the uk. if they are hit by a banking outage ofjust one day, the impact that can have on their turnover and one day, the impact that can have on theirturnoverand their one day, the impact that can have on their turnover and their ability to pay their customers or whatever it is can be detrimental and quite catastr

lower orders weighing on sales barclays trading higher in london the bank says its out look is challengingght have heard about this brexit thing gilead, stocks are down the excitement over that run up appears to be muted. volume appears to be eneemic the size of trades has come down some worry that another december-like melt down could happen again or worse. we spoke with president of modern ir and i asked why all of this matters >> do you look at the data, the liquidity measures have gone down, down we tli liquidity is the amount of something you can buy brokers are required to post a minimum 100 shares to buy or sell if you look at the s&p 500, this was the point i raised in the market watch piece that the s&p 500 trades at 135 share increments if you look underneath that, almost half of all trades are less than 100 shares you look at the size of black rock and state street. >> you just talked about how the actual sizes of the trades are getting smaller as well. is that in some way a taste of things to come is. >> yes if you look at the data in 2015, the same figure shifted to etf, about

these reported plans tell us about the state of the global banking sector in 2019 a year with a total of $60000.00 reported cut jobs. city barclay and others were certainly looking at fragility you begin with deutsche bank the stock is down 95 percent from its peak in cutting 18020000 jobs which they've been talking about since early in the summer we're talking about 20 percent of the banks so it's clearly deciding how it can survive the existential questions for deutsche bank at h.s.b.c. a $10000.00 person cut is only about 5 or even less than 5 percent turnover at a bank like that is it happens all of the time so in one sense it's possible that the interim c.e.o. is just trying to clamp down on expenses and put the fear of god employees to save money wherever he or she can you mention regulatory problems these banks are serial . they have misconduct in a serial number of ways public citizen put out a report just last week pointing out that. the american justice department unfortunately gives them a pass when they see misconduct h.s.b.c. money laundering for every rogue in the world drug cartels tyrants et cetera and yet find t

in the uk, not just in the uk pound but major banks that are based in london, royal bank of scotland, hsbc, barclaysed moves in the uk stock market, particularly in the financial sector yields are rising across europe. that's lending support to some major european banks as well the sector on track for the best day since april of 2017. one outlier is hugo boss, falling to the lowest level in nine years on a profit warning, pointing to weakness in the u.s., and unlike lvmh which had strong results despite unrest in hong kong, they say profits were heard from the protest, less demand from tourists, and persistent macro uncertainty, closing down around 7% what was otherwise a strong day for european stocks. >> strong all around so much news thank you so much. >>> speaking of news, let's get an update with sue herera at hq. >> good morning, carl. good morning, everyone here's what's happening at this hour a federal appeals court ruling president trump's financial records must be turned over to the house of representatives it said lawmakers should get the documents they subpoenaed from the firm that provi

banks prefer it with more safety from a bond. great on a u.k. unit. i was stunned by how they are at barclays. ope, we have more exposure in u.s. banks. they are more expensive but more sustainable and pretty double. go over the liberties of the big banks. ies ofbout -- validit the big bang spread what about the italian wants? -- big banks. oat about the italian nes? patrick:patrick: they are not as big as they were in 2011. it is something we are not investing on the equity side of things. if you want bond side, i would prefer the u.k. and french banks. patrick:u.s. banks -- vonnie: u.s. banks -- any interest there? patrick: we own jp morgan, citigroup. we think they are all reasonable. you get a bit of upside. the economy in the u.s. -- they have better run banks, less employees. they have good franchises in investment banking and wealth management. i pay a premium multiple on u.s. banks than europe. guy: it is halloween. it is my son's birthday and the day brexit was meant to happen. what do you think of u.k. exits right now -- assets right now? are they cheap? do seeby domestic if you a bre

other banks include rbs and barclays set to report.o get earnings from the auto sector, closely watching for these numbers after poor manufacturing data out of the u.s.. tesla and ford motors kick things off tomorrow. the trade war rumbles on while snap reports today in the likes of microsoft, amazon, and twitter report later in the day on thursday. other firms to watch include boeing and mining companies. fair to say that this week will be an avalanche of earnings. what is your take so far? we are getting into the swing of it so far. >> so far, pretty much as expected. the cyclicals, the industrials have seen weakness. you have seen a very strong u.s. bank earnings, largely on the back of a strong consumer sector in the u.s.. fair, already, and to be this often happens, but analysts are taking a knife to their 2020 profit estimates. they have just cut by the most since january. they always lower their forecasts as the period draws near. 2020, there are a few headwinds. you have the slow growth. you also have the end of economic cycles

that and the long running trade work $3.00 former top barclays executives are due in court on monday there are charged with fraud linked to how the bank raised billions of pounds from qatar in 2008 the case centers on the alleged payments to qatar in return for cash that helped the bank during the financial crisis all 3 deny any wrongdoing german arms exports are heading for a new record this year by the end of september export licenses have risen by 75 percent year on year to more than $6000000000.00 euros by far the most exports were approved for hungary egypt follows in 2nd place. the measure would be a 1st in any city here in germany on the initiative of berlin's left wing government berlin senate's is planning to introduce a rent cap to freeze rents for 5 years and most older buildings residents have been complaining that their once famously affordable city was pricing them out now with the new law scheduled to come into effect at the beginning of next year contractors fear business could suffer with homeowners and investors canceling orders. berlin is becoming more popular every year its population increases by $40000.00 which i

banking majors such a report. ups is first up tomorrow with rbf and barclays to follow. today, we hear from the cfo of software giant sap. welcome to "bloomberg daybreak: europe." has described boris johnson's situation this morning -- looking at a fruit tree but unable to eat or drink anything. he is going to try and put a meaningful vote to parliament today. speculation is he may have those votes by just 16 in terms of that amendment. and then we look ahead to this week. if we get a vote, we asked whether it will pass. optimismms to be some in the market. sterling is softer today but the drop of .5%, nothing compared to the gain of 5% this month. votef them saying a was passed this week. , credit of strategists agricole, we could see 136 in the medium-term. one week volatility staying elevated near the 2016 highs. manus. manus: that is the conversation we had yesterday. he said a lot of the risk is in the options market, not in the spot market. hard brexit risk runs for the rest of 20/20. even if he gets a deal over the line because he has a lot of trade deals to negot

banks up 1.2%. we see gains there, rbs, barclays at the top. oil and gas because we are seeing a spike on the back of the attacks of the iranian vessel overnight we are seeing oil and gas up overnight. household goods and luxury struggling one name in particular, hugo boss with weak earnings there. exposure to hong kong. in media at the bottom, a french media company, disappointing out look for the year. that's the whole picture solid end of the week this friday morning >>> thank you for that update. very, very good negotiation is how president trump describes day one of the trade talks between chinese officials in washington he is now scheduled to meet with the chinese premier tonight amid optimism that the two sides can come to an agreement to avoid more tariff talks next week. >> reporter: the vice premier will head to the white house tonight. they'll have a face-to-face, raising hopes that tariffs for next tuesday and the trade war will be put on hold. this is what president trump said >> we just completed a negotiation with china, we are d

as i mentioned, a lot of the uk banks are leading the charge today. we have rbs up 2.7%. barclaysabout 1.5 percentage points as with el. so that's one of the reasons why the banks are doing so well. remember, this is a big ecb week not a big decision week, but definitely a key one for the banks to watch autos also seeing a rebound up 1.4% basic resources up a similar amount as i mentioned, luxury, household goods down about .4 right at the bottom, we have defensive real estate down .8 of a percentage point but, let me take you back to sterling because it has dipped this morning after british lawmakers voted to postpone a meaningful vote on boris johnson's new brexit deal forcing the uk prime minister to force a new delay for the october 31st deadline. now, johnson sent an unsigned letter to the eu requesting an extension but also sent another letter arguing against a further delay. the government is set to push for another vote on the deal as early as today steve joins us live from westminster and perhaps, steve, you can shed us a little more light on the developments from saturda

barclays backs down after a backlash — the bank has reversed its decision to prevent customers withdrawingy. cancelling that plan, the bank said it recognised the facility was "valued by many communities in the uk". a video sharing app has been defending itself against accusations that it's been removing content that the chinese government doesn't like. what's going on? yes — this is tiktok. the app is known for clips of teenagers lip—syncing and dancing to music — lets people make short 15—second videos and set them to music, before sharing with followers. us lawmakers said they were concerned about whether beijing censors content on the app and collects data on users. but the popular platform, owned by beijing—based bytedance, said it "does not remove content" based on chinese sensitivities. the fast—growing social media app has about 500 million regular users and its estimated to have been downloaded more than a billion times on app stores. hence the concern. samira hussain is at the new york stock exchange why the concerns now? what are they based on? we are told the chinese government

specifically, the uk banks a bit of a jump here up 2.1% barclays 1.7 and up as well. the uk names are really right at the top of the stoxx 600 they had been hit from brexit and brexit fears holding those names back one of those reasons they are bouncing back. another sector are the uk home builders mostly trading in the green up about 1% and up about .2%. trading up more positive for these names. that was no surprise they were the names that got hit the most anything with exposure to brexit, we are seeing rebound quite nicely today >> the global economist at capital economics. you may not be a betting man but i'm sure some of your clients are. i wonder if you think they should be betting against a no deal brexit. >> barnier is saying a deal is possible a lot of things are possible i urge people to get a sense of reality and step back. what mr. johnson has done in admitting there should be some sort of customs barrier. that plan is difficult to pin town they came up with this proposal for a jewel customs idea there is a lot of good sounds coming out but there is a hell

unfortunately, metro bank was basically seeking to replicate to quite a large extent how barclays andfollowing, none of the 20 firms partnering with facebook on its libra cryptocurrency project have yet committed to financially backing the effort — that's what the bbc understands. mark zuckerberg is expected to tell a congressional hearing on wednesday that libra is "independent" and "we don't control it". the libra association, set up by facebook to govern the cryptocurrency, declined to comment and would not say if it currently had any financial support from any source other than facebook itself. shaquille 0'neal has spoken out in support of the houston rockets manager whose comment sparked a row between the nba and china. the basketball legend said daryl morey "was right" to tweet support for pro—democracy protesters in hong kong. the nba is hugely popular in china and mr morey‘s comments unleashed a wave of anger in the country, sponsorship and telecast deals have all been cut. getting fracking up and running in england has been slower than expected — that's according to the natio

street may not have a physical bank branch customers have been able to take their debit card into their local ppst office and either deposit or withdraw cash. but from today barclays roaster the post office as a shocking. how do you respond? we are announcing a true today, firstly over 100 branches we are freezing their closure for two years so we can work closely with those local communities to boost demand. for example working out which opening errors would work for them. the second thing we are doing is saying we are changing the way our customers access cash and some of those remote areas through announcing a cash back through the retailer schemes you can get cash when going to a local retailer and your community. as a consequence we are announcing that we are wrong and going to offer over the counter cash withdrawals at the post office from january 2020. you are going to launch this cashback scheme at small businesses in remote areas, where there is no branch within one kilometre. but for many including the elderly and physically impaired, one kilometre as quite a long way and in some remote areas and might end up being further than that. how is ba rclays end

bank. friday, we will see if barclays can extend their hat trick of sabadell beats , and will report as wellext, china's top negotiator liu he offers positive signals as both sides work toward a possible agreement, phase one so to speak. we get the latest next. this is bloomberg. ♪ ♪ matt: welcome back to "bloomberg markets." this is the european open. 25 minutes into the trading day, looking at green arrows. evenup 0.5% this morning, as the pound has posted a little bit of a drop from the high we saw on friday. the dax up 0.5%, helped partially by sap, but also by wirecard showing gains this morning. toronto dominion bank's pooja kumra is still with us. your focus on rates at t.d., what should investors be doing to protect themselves from the uncertainty of brexit? is there even perhaps a way of getting some kind of return? pooja: i think with respect to scenario was ak no-deal scenario which has been reduced. we believe the e.u. with approve the extension. from a rates perspective, i just see, even though this week we could see some choppiness, the direction toward higher yields. either wa

banks doing incredibly well. mainlynks in particular, rbs and barclays and lloyds.s so, lloyds and so, lloydslays less and rbs. these are leisure up, the sectors that have been beaten up by the global economy, today having a much better day. let's take a look at the bottom end of the market. food and beverage, nestle personal households and goods, the bond proxies not having such a good day. they are underperforming. beverage the only sector to be a negative territory. let's take a look at individual names to show you what is going on. how some of the u.k. domestic stocks are doing. builders, baron up 11%. romain, a cracking day if you own european stocks. a big move. we do not have a brexit deal. we do not have a trade deal. romaine: also a big day for all of the bulls in the u.s.. take a look at the s&p 500, up about 1.8%. financials, materials, industrials, tech all leading the charge. you can see this number. 3000. we are up above some of those technicals levels. dayere hugging the 100 moving averages. as stocks go up, we are seeing bonds go down. the 10 year yi

barclays, hsbc, many other banks involved but not to such an extent.he banks were really trying to draw a line under it. £22 billion in lloyds's case and they are hoping this is the end of it because it has been going on forfour or this is the end of it because it has been going on for four or five years and it has cost them a lot of money. thank you. 8:10am is the time. tomorrow marks one year since doctors in the uk were allowed to start prescribing medicinal cannabis to help with certain health conditions. it followed high—profile campaigns from families of children with severe epilepsy. still, some say that tight regulations are leaving many unable to access the drugs they need. john maguire reports. you're watching charlie hughes have repeated infantile seizures caused by epilepsy and potentially very dangerous. this was filmed in february. and this is charlie today. after being treated with medical cannabis for the past five months his seizures have dropped from more than 120 per day to less than ten. brain surgery was ruled out so the last ditch

bank average up 11% barclay's was up 18% this is having closed equity it's meant to be the strong suit think that shouted out to investors that even if they're closing one department it hasn't worked, to focus on the other. >> focus on banking secrecies for cross-country transactions they're very good at that. >> the other point, investment banking was strong, up 17% they said that was because of huge loan growth in that area. you're thinking this stage in the cycle, maybe that's because they've been able to redivert some of that from equity trading. again it doesn't feel like the right area to be doing it. in all levels this result was scream i screaming worrying signals and share price responding accordingly, to the themes that josh has been mentioning there as well. >> putting some shade on allegedly shady banking right there. >>> after the bell, we'll get earnings results from facebook julia boorstin has a preview julia? >> shrugging off regulation, revenues projected to go over 26% while earnings are expected to increase nearly 9% from the year ago quarter with user growth anticip

now we have barclays and citigroup leading a group of banks and they're unwilling to salvage that asthey are looking to hold on to some of those loans themselves. bloomberg is reporting about $280 million worth of loans. they are looking to offload more than $1 billion worth of the debt as the deal gets done. alix: great point. it dovetails with the jump bond sales. -- with the junk bond sales. the third company is gm ended strike. the rhetoric when it first to adopt was they can handle it. -- the rhetoric when it first kicked off was they can handle it. that is not the rhetoric anymore. robert: -- brooke: it is not. the longer this goes on the harder it is to make up losses. you are now seeing the pain points for gm. you're also seeing a little bit on the union side as this continues to go on. you have employees who have not gotten paid their normal salaries since this started, only getting paid $250 a week. it will be interesting to see how far both sides are willing to push this. alix: i thought the derivative results were interesting. there was a factory shut down in mexico with

details >>> let's talk about some corporate earnings barclay's shares are hitting a third quarter high after posting a 67% rise in earnings the british bank posted a $1.4 billion charge and a warning that beating the profit targets will be tough. >> the ceo outlined the concerns facing the bank. >> the tax up some 16% a return on tangible equity or capital return this is six out of seven quarters where our profit level is just over 9%. a good print at 13.4%. it is a good quarter we faced some head wins in the uk and our consumer and small business bank. it held up reasonable well had a strong year over year performance in our investment bank our corporate and investment bank was up some 18% that was strong as well. >> i just want to dwell on the thick income that has been an area of concern as investors have looked at the space. up 19% looks very respectable. could you take a little about what that tells us about the underlying market behavior and investor behavior over the third quarter and whether that represents some turning point as we look towards year end and early 2020 >> i think the third quarter for the markets business was overa

getting some support from domestic banks such as lloyds, ba rclays, support from domestic banks such as lloyds, barclays a health and ca re looking at the whole of a health and care sectors looking at the whole of a health and ca re sectors says looking at the whole of a health and care sectors says that safety and quality are deteriorating in specialist mental health services with too many people looked after by workers who lack skills and training. in 2018 inspectors who visited hospitals for people with learning disabilities and autism rated 1% is inadequate. this year, 10% have been given the slowest rating. last year inspections of inpatient mental health services for children and teenagers found 3% were inadequate. now, 7% failing to meet standards. what we have seen is a perfect storm break. an increase in demand, plus some real concerns over the workforce and what that means a particle terms is there has been a significant reduction in the number of learning disability nurses. which means that the carers you're looking out to people with incredibly complex needs do not have the support and skill

momorning, hundrdredsf people blockcked traffic outside the bank of england, while other activists glued themselves to the offifices of barclays baban, military contractor bae system, and asset manager blackrock. >> this company are one of the major reasons the earth is such a mess. i know there will be people inside black walk whwho are working -- like rock who are working hard. surely, they will get the message that they are the ones who are making their future less safe. amy: despite the ban, extinction rebellion protests are contininuing in ndndon today,, where the group's co-founder, gail bradbrook tried to smash one of the windows of the department of transport with a hammer, while other activists glued themselves to the building. to see our full interview with dr. bradbrook go to democracynow.org. in ecuador, president lenin moreno signed a new decree on monday to revert fuel prices back to the subsidized levels after the government and indigenous groups struck a deal protests.ask of under the agreement reacheded sunday night, ecuador r did not withdrawaw from the $4.2 billion international monetary fund loan from ase a

. >> barclays warned low interest rates and brexit will make it tougher to meet targets next year. even as bankraders outperformed most of wall street in the third quarter. >> in six of the last seven quarters we generate a return of capital over 9%. we feel good about the 9% target for 2019. i think what we are bringing up, as you look into 2020, you have the macro environment in the u.k., where economic growth is somewhat muted. if we continue with the uncertainty of brexit, one has to think you will continue to have soft growth in the u.k.. also we have lower interest rates. in the lower interest rate environment, it clearly puts pressure on the bank's interest margins and possibility of deposit base. we need caution against the 20% target for 2020. we are still going to maintain that target for now. >> with six days before the u.k. leaves the e.u., we have not seen a breakthrough on brexit. opposition leader jeremy corbyn says his backing depends on the length of a brexit delay granted by the european union. that puts brussels in an awkward position. bloomberg understands that the eu is pla

asset class here so when one works, they tend to all work >> one bank i just mentioned as well, contessa, has had a great day, barclaysorts they had this morning. also had a great performance of late because of improving brexit sentiments strong run for some of the uk banks as well. >>> coming up next, we're going inside the market zone to bring you uninterrupted coverage of the final minutes of trade as the s&p 500 tries to close at that record all-time high. we are at 3023 it needs to add a couple of points to be a record all-time closing high we're back in a couple of minutes. devices are like doorways that could allow hackers into your home. and like all doors, they're safer when locked. that's why you need xfinity xfi. with the xfi gateway, devices connected to your homes wifi are protected. which helps keep people outside from accessing your passwords, credit cards and cameras. and people inside from accidentally visiting sites that aren't secure. and if someone trys we'll let you know. xfi advanced security. if it's connected, it's protected. call, click, or visit a store today. you should be mad that this is y

parallel is looking back at barclays with a similar incident where they had a whistleblower and they were trying to find out the identity there. he's still there as coo and the bankas moved on. provided that this is a single incident rather than a trend that is a culture there, then they can ride it out >> that's a big question, whether people will deem it a single incident. going back to credit suisse as a business going back to 2015, credit suisse has underperformed ubs by 20%. why? >> one of the troubles thiam had is he arrived at credit suisse, ubs made a much clearer fist of restructuring their whole bank one clear visible strategy was immediately obvious to investors and clients. credit suisse has gone through more increment al changes. that has been less of a clear strategy and a more gradual process before they started to get themselves on track. >> we spoke to him earlier, he said the restructuring efforts have come to a close now they'll turn the new page and look to the future >> one of the issues they have is that the investment bank won't fully work for the strategy it doesn't have a clear fit with the wealth management industry >> we just heard from

we were asking barclays a few days ago about whether he was worried about the credit cycle turning. should banked? jim: i think credit is a difficult asset class. it had the perfect year of a relatively good environment for risk assets driven by much lower bond yields. as we go into next year, i think bond yields are going higher, particularly in europe. at the same time, the risk asset picture going into a cycle that was pretty weak does not look particularly obvious. credit looks a little bit tricky heading into next year. nejra: jim mccormick stays with us. much more to discuss but for now, let's get the first word news. >> hi. the u.k. is set for its first december elections in nearly a century. it's widely seen as a proxy referendum on brexit. voters were but the last chance to choose between different versions of written's divorce to the eu or vote for canada -- wanting to cancel it altogether. boris johnson finally got the motion through the house of commons. it now heads to the lords. when it comes to where cars are made, president trump wants to be in the driving seat. we learned the w