deutsche bank down 1.4%. you did not see the gains they had in terms of capital raising and advisory offsetting the pressure on the investment bank. they do see client activity relatively robust for the end of the year. nonetheless, investors not overly optimistic about the implications of those earnings. basf raising prices, 36% in the third quarter. the stock is down .3%. santander very bullish but the stock is off about 1%. they are confident in the operation of the business in the u.k. and u.s.. let's get the bloomberg business flash with laura wright. laura: heineken reported a decline in beer consumption at southeast asian company suffered from a resurgence of covid-19 cases. we are volume fell 5% on an organic basis, more than the 3% expected. the world's second-largest brewer says asia was especially weak with volume slumping 37%. chips posted the smallest gain in nine months in october. the gap between when a semiconductor is ordered and when it is delivered increased by one day, just under 22 weeks.

deutsche bank is rates house. in terms of comparison to the u.s., that is what the market is going to be doing. the u.s. banks were driven by advisory. let's keep that in mind. a few other stocks which are doing, let me bring you some of the news flow from dws. we will catch up with the deutsche bank ceo a little bit later on. to dws, net inflows of $12 billion. the market was looking for $7.46 billion. you see a monster flow but we know that anyway from the bank of america, bank of america's flow results that they give us on a weekly basis. net revenue for the third quarter. revenue comes in at 644 from ahead of the estimates of 627. that is the top line from dws. very comfortable beat on the inflows. that is the critical point. let me take you to another start which was just reported in ecuador. they have reported their net for the third quarter. the norwegian energy company says it plans to increase the share buyback to $1 billion. good news all around if you are a shareholder. my guest is the ceo. always good

alix: that was the deutsche bank cfo.ave to say that we were surprised by some of the violence of the share price on the back of the earnings. for more results, joining us now is alton williams from bloomberg intelligence. rate to have you on the program, i was surprised -- rate to have you -- great to have you on the program, i was surprised by how much earnings were falling. >> i would say that also, the share price also to me, we do not buy, sell, or hold on bloomberg intelligence, but it is a tough day for the stock. i would point out that the backdrop often matters with the banks and sometimes just depending on what is happening with the macros or stocks, that can exacerbate in general the pricing action and the stock has been a good stock until now. all of that being said earnings were better, and we think that it has been quarter after quarter of expected trading, that is the area that people were worried about, and it is coming better than expected, as you mentioned earlier, it is not the spot where wall street is

there was a lot of pushback today from deutsche bank on that. and another theory could have been simply that the trump organization filed something potentially incorrect before and then corrected it and the loan actually didn't change. the problem with these things, and it's so frustrating, you can imagine, it's just -- we don't know, because there's just so little disclosure about this. it's maddening, because deutsche bank is saying, well, there's a lot of things wrong, but won't tell us what. same with the trump organization. you know, if this loan was changed, i think we should know about it. it's a foreign bank involved in, you know, a huge loan to the president. and these loans, he's going to have hundreds of millions of dollars, 400 plus million dollars of loans coming due in the next several years that he has personally guaranteed. $300 million of that is owed to deutsche bank. this is a fellow who is now -- his organization has been indicted. once that happens, there's collateral consequence. he may not be able to -- deutsche bank has i

there is a lot of pushback today from deutsche bank on that.mply, that the trump organization filed something potentially incorrect before, and then corrected it. and alone actually didn't change. the problem with these things, and is so frustrating, you can imagine. we don't know, because there's so much little disclosure about this. it's maddening, because deutsche bank is saying well there's a lot of things wrong but won't tell us wrought, same with the trump organization. if this loan is changed, i think we should know about it. it's a foreign bank, involved in a huge loan to the president. and these loans he's going to have hundreds of millions of dollars, 400 plus million dollars a loan coming due in the next several years. that he was personally guaranteed $300 million of that is over to deutsche bank. this is a fellow who is now, his organization has been indicted. once that happens there is collateral consequences. but, deutsche bank has indicated that they don't want to do business with him anymore. he may not be able to get any bank

is that a good thing for deutsche bank?lation running a little too hot in short term in the europe >> let me first talk in general about this i think overall inflation is not something good for the society and for the people so one has to watch that i do think that actually the inflation which we see right now is obviously also driven by certain supply chain problems which we have worldwide. that will a little bit de-escalate i think over the next couple of months. but i'm a firm believer that we will see the inflation for longer it's not just temporary. and i get that insight from all the corporate clients i'm talking to and there is nobody who actually thinks this is a temporary thing. and that will also mean that we will see some reactions on the interest rate side some banks are already talking about that and of course kind of a more normalized interest rate environment is something good for banks, something good for deutsche banks but i can assureyou we never planned on a recovery of the interest rates we focus on ours

and if they do that, what does that mean for the future of artie deutsch on youtube? because youtube has a long list of topics about the pandemic that it deems misinformation and are subject to removal. the platform argues that spreading such material poses a serious risk of agree just harm and runs counter to advice by the world health organization. or jim or professor from the discussion panel than youtube removed, told us that it's a matter of freedom of speech. thus, you don't need i, if something has been stamped with the word, this information, fake news. in other words, that youtube has the right even should remove it. the only question is who makes the decision of what is disinformation? i then the next question and who are they and above all, are they independent? almost always not in these are all very dangerous developments and say that we have freedom of the press and freedom of speech. i'm very sorry, but it's not that simple. didn't need to understand the freedom of the press, even in our country, is in great danger. because, of course, at any press depe

for what was claimed, it was the, the publishing of covered disinformation, now artie deutsch at the time said, and they maintain that what they were doing was giving air to different opinions and asking those similar, difficult questions about the covert 19 pandemic. and about the german violence handling of it. basically, both sets of videos were removed from youtube for the same reason. but archie deutsch as videos being removed prompted a very different reaction from germany's most red tabloid newspaper. as a reason for the measure youtube site, severe breaches of the platforms guidelines more precisely, artie deutsch had received a warning from the platform because the broadcaster was purposefully spreading disinformation about the corona virus pandemic. with this removal, putin's power structure loses a central brick in its disinformation campaign. whatever way you slice it, this is a pretty big hypocrisy from billed. but what's really interesting is, what will happen next since the court has ruled that alice off, den tish is videos, shouldn't have been removed. will youtube pu

what does that ultimately mean for auntie deutsch in their future on youtube? artes, peter oliver, thanks a lot for that update. now report by a u. k. parliament committee claims downing street botched, its response to the coven pandemic leading to thousands of debts that could have been avoided. now we're going to go live to alice tustin, founder of the covey, the victim campaign group names, not numbers now. ah alice, were you surprised by that report or was it just something that the british public had already suspected? well, i mean, i've been assigned to the last couple of years in my group manual numbers that the government has done an absolutely terrible job. and this is what happens when you have leaders in charge in a nurse, a society that don't know what they're doing and they didn't follow the science. they didn't listen to the experts and they didn't listen to other countries that warned them when italy said that this was coming on, them laughed. and if you look on other islands behaved by japan and so critical to south korea and they did a much bet

and if they do thought, what does that mean for the future of auntie deutsch on youtube? youtube has long list of topics about the pandemic, vetted deemed misinformation and are subjected to removal. the platform argues that spreading such material poses, quote, a serious risk of egregious harm, and runs counter to advice by the world health organization in german professor from the discussion panel. youtube removed told us, it's a matter of freedom of speech. das, edo rome, she'd i'd a, something has been stumps with the word this information. fake news. in other words than youtube has the rights even should remove it. the only question is who makes the decision? what is disinformation than the next question? who are they and above all, are they independent? almost always not. these are all very dangerous developments and say that we have freedom of the press and freedom of speech. i'm very sorry, but it's not that simple. you need to understand the freedom of the press, even in our country, is in great danger. because of course, any press depends on whether it can and h

and if they do thought, what does that mean for the future of artie deutsch on youtube? meanwhile, in the u. s. popular social media network, twitter thinks it's got an answer for when conversations get routing and in its opinion, offensive the platforms trying out a new feature that warns users entering an online chat that things could get quite heated. although some of the content flagged in the trial run has left users a bit, can flee a bit confused. oh, woe there are intense conversation about the weather, bro. seriously, this is the last one yet. to return. what's intense about this conversation? can believe this is happening on it on the intense conversations did to it's a i'm a generation x sir, is going to take more than an intense conversation to bother me. so how does it work? if twitter spots a chat thread with opposing views being thrashed out and someone wants to join in a message pops up saying heads up, conversations like this can be intense. it's still not clear though, whether or not twitter scanning for content is subject matter or the actual content of

i'll t deutsch was issued a warning for uploading content that violates our rules in relation to covet 19 medical misinformation policy. this results in the suspension of their right to upload videos during the suspension. the channels owners tried to bypass the restrictions by using a different channel. as a result, both channels were closed, violating you cheap times of service. so to give you some context, our 1st rti george, his main youtube channel law, was given several code related strikes and that led to a temporary suspension. so because the main page was suspended, its team decided to continue sharing his content on different page that belongs to one of its, ah shows. ah, it was different content. ah, not that which had been flag by youtube, of course. but nonetheless, both pages were completely deleted by youtube without any warning. now what's interesting is that there are no clear rules saying that you can a run a separate page, or maybe even start a new page if you are suspended on youtube for whatever reason. besides those 4 videos in question that rti deutsche receives

great reporting from sri natarajan on deutsche bank. i guess the good news for deutsche bank investors is we are no longer talking about trying to cut our way to growth. they are looking for sources of that growth now. maybe that is the upside to this story. tom: i would do a quote on aluminum, but i can't find it. save me. jonathan: go to metals, go to aluminum, is at the top. we are positive 3%. lisa: what is going on? he is saying aluminum, you are saying alumin-ium. jonathan: that's what we do. [laughter] tom: the vix comes in. it he cares. -- nobody cares. lisa: i care. tom: yes, you care. [laughter] jonathan: david riley from bluebay on the program saying there's more space for this one to correct higher. what does that mean for this market? tom: we will have to see. on aluminum, on the equity markets, alicia levine, bny mellon, joins us right now. this is really in the zeitgeist this morning. do you buy on the rumor of banks doing better, or sell on the news tomorrow? alicia: i think the market is set up for this particular quart

deutsche bank say we think trump got basically forbearance on his loan from deutsche bank where he didn'tcipal on his loan until years later. they don't have the proof on that. but i don't think that part of it is as well proven as the house would like it to be. >> i want to read the letter from maloney and connolly in terms whereof the investigation might go. the committee found that trump providing misleading information about the fonl situation of the trump hotel in his annual financial disclosures, received undisclosed preferential treatment from a foreign bank on the $171 million hotel that the president permanently guaranteed. accepts millions of dollars in emolument from foreign governments without accounting the money's source or purse. concealed hundreds of millions of dollars in sent from gsa when bidding on the old post office building lease and made it impossible for gsa to enforce the conflict of interest restrictions. as discussed, this letter raises many questions that need investigation i am not a lawyer, but at least four or five criminal acts. no? >> remember the gsa who

they don't like our tea deutsche, because it has broken their monopoly and the dictate of opinion in german journalists and journalists who practice journalism that praises the authorities. instead of critical journalists do not like such competition. they don't like it that a mirror has been put in front of them in which they can see what they really should be doing. thou, after chaotic scenes in the u. k. this week, some pet 4 stations there is still dry despite the fuel crisis easing britain. so massive keys and for courts across the country with frustrated drivers, sometimes even resorting to violence. p drive boy, the very old playing very loud. you okay, i'm ready. one then got you as you can see, tension then at the pumps has been pretty intense this week. the massive keys in panic buying kicked off after oil firm b. p did warn it would have to temporarily close some of its petrol stations. g to a lack of laurie drive is needed to deliver fuel supplies and u. k. government now intends to bring in the army to help deliver fuel from monday when he is a reminder of how the crisis

christie and from the deutsche bank. what should we do it is a like this? >> way the market is changing, it is not that there is inflation coming in, but we've always talked about these numbers, especially in europe, with gas prices khairat getting yesterday. -- skyrocketing yesterday. it is tech flay sherry's deck tech flay sherry -- techfla tionary. it is not just the goal of economic growth but also price stability. we stay at these levels or even go further up, we are not in a situation to increase rates. that is what you would normally do if you see inflationary pressures. it is transitory. we are more than capable of boosting inflation higher, and if your time-of-flight debts fighting wars, it is not an inflationary war, it is a bit inflationary, but it is not bad for the central exit if you get a bit more inflation. the question is, is it too fast now? we need to act. lisa: is tapering tightening? >> yes. you take money that you do not supply to the market anymore. the question is, what is the speed of tapering? do we do it step-by-step or very fast?

but deutsche bank said we're done with him now.t going to find american or big lenders in the united states or companies that do a lot of business in the united states. and that's the real problem he faces in the next few years. it's not just this hotel. it's all the hotels that are doing terribly. and he doesn't have the money to pay back his loans. >> is there more beyond this? the committee says we are not done yet. they are going to keep digging. as you suggest, you don't think it there's criminal prosecution in the future for him. his cfo is facing tax fraud charges in new york. the web of people around him facing charges is extensive. but you think how does this all fit together? what congress gets to next i wonder. >> i think it's fair to say that the former president has been very good at protecting the secrecy of his business operations. we are just finding out today that, in fact, the hotel was doing poorly. i think anyone who can say for certain what donald trump's finances are or will be is blowing smoke. but the news h

north of 2% on the 30 year and deutsche bank nailed -- mailed it again.-- nailed it again. it boils down to two things with the dollar, upside risk to inflation, downside risk to growth. for the u.s. dollar, that is clearly a positive and a negative for risk assets. we are softer today but we've had a five percentage point move off of may and since september you've seen the strength come back. tom: the consolidation where jon seems to work out, take the dollar back to 10 year yield so it would consolidate up. i will look at the bull case which is tangible. this is carrying dr pepper, a $12 billion revenue company. they will get up to $13 billion and what is so important in the gloom as they dropped down to a 33% ebitda margin so they are persistently minting money and they go with a $4 billion buyback. we will see tons of this in the coming days, nothing else to do. speaking of gloom, that means washington. andy blocker joins us now. i love what you say, we've seen this movie before. i'm not sure i believe it. is the negotiation or compromise we see this

deutsche bank is doing good. good luck with that.t is important to talk about the changes in the dynamics of the fed policy and economic growth. you have a comment. jonathan: here's a quote. with the committee sensitive to higher-than-expected inflation data from earlier this year, we are expecting in assistance to lift off in december of 2022. walk me through. what is change that says we're going through? >> what a change from our perspective. the middle of 2023, essentially. it is all about inflation from my perspective rate we have seen the latest data, car price data, up 5.4% in december. another 8.3% in the first half of october. we have seen oil prices and energy prices moving higher. that is important inflation expectations. we know consumer measures are sensitive to that. market measures are sensitive to that. we have seen supply chain disruptions for longer. on top of that, we have more persistent items. the atlanta fed measure, inflation been the highest it has been since 2001, and we have come to the realization that clayt

stefan schneider joins us now, deutsche bank chief economist.s there anything else that the ecb can do to try to convince bond markets that actually, there is not going to be a hike next year? stefan: first of all, thank for having me per get the ecb is in a situation where we see inflation is surprising constantly on the upside. we see lagarde is correct in saying that it is to a large extent energy price driven, but of course, the market is getting suspicious whether this will really be just a base effect which will peter out sooner or later, or whether the underlying inflation is picking up. i think ultimately, the verdict is still out. the ecb has been pointing out that the phillips curve models don't suggest that inflation and wage price inflation -- we just got a very important settlement from the construction sector, which points to a base increase in a sector which is red-hot. but for the time being, the ecb still has the evidence that we don't see those second-round effects arkansas concerned about. alix: our week -- effects markets are

now, as for deutsche bank, cnn contacted them as well.tee has made several inaccurate statements about deutsche bank and its loan agreement. pamela. >> thanks for bringings uses latest on that front. and we are going to have more news just ahead. stay with us. priceline works with top hotels, to save you up to 60%. these are all great. and when you get a big deal... you feel like a big deal. ♪ priceline. every trip is a big deal. >> tech: when you get a chip in your windshield... trust safelite. this couple was headed to the farmers market... when they got a chip. they drove to safelite for a same-day repair. and with their insurance, it was no cost to them. >> woman: really? >> tech: that's service the way you need it. >> singers: ♪ safelite repair, safelite replace. ♪ (vo) at t-mobile for business, unconventional thinking means we see things differently, so you can focus on what matters most. whether it's ensuring food arrives as fresh as when it departs. being first on the scene, when every second counts. or teaching biology without a

i think deutsch avella is behaving like western propaganda . i think they have their own agenda that they're pushing in the balkans. they are propagating german foreign policy in the balkans. they are not trying to be truthful. they're not looking at historical facts, they're not putting anything context. there. it just blaming our teens putting for everything. it's the blame russia approach as we've seen so many times in the past . so we hear in serbia very well know that western media outlets regularly behave like propaganda. and the reason why our teens putting are very popular here is that we can see that what they are reporting is the truth and they give now turn and a viewpoint on events that are happening, not only here but around the world. so that is where this trust is based on the are threatened by anybody imposing a different or propagating a different narrative from the ones they're propagating. and this is why i think they're very much upset with r t. a split thing being very popular, not just in serbia, i have to say it very popu

inaccurate statements about deutsche banc and its loan agreements.thanks for the report. >>> here's one way to lend a helping land. skydiving on to mt. everest. a retired navy s.e.a.l. taking a giant leap honoring fallen service members and helping their families. find out what motivated him to this next level, after a quick break. this is mike. mike blew his entire life savings on a permanent perm shampoo invention, which actually attracted more cats than customers. now instead of wasting money, mike is looking to save it with amerisave's great rates. see how much you could save at amerisave.com. advanced non-small cell lung cancer can change everything. but your first treatment could be a chemo-free combination of two immunotherapies that works differently. it could mean a chance to live longer. opdivo plus yervoy is for adults newly diagnosed with non-small cell lung cancer that has spread, tests positive for pd-l1, and does not have an abnormal egfr or alk gene. it's the only fda-approved combination of two immunotherapies. opdivo plus yervoy equ

about deutsche bank and its loan agreement. brian todd, cnn, washington. >>> coming up, abortion is once again effectively banned in texas after an appeals court put a temporary hold on a previous ruling blocking the abortion law. the latest next. >>> first, a quick programming note, the new cnn original series "diana" offers a glimpse at the person behind the princess and reveals a life more complicated and fascinating than the world new. here is a preview. >> i was always different. ry knew always inside me that i was going somewhere different. >> she was going to marry her dashing prince like all the stories she read. >> she was iconic, she was box office. >> are you going to dance with the princess tonight? >> if she would like me to. >> pre-diana, there was zilch interest in the royal family. >> i don't think anybody has grown up in public like diana has. >> diana provided a very public model for defiance and truthfulness. >> isn't it normal to feel angry and want to change a situation? >> i was able to recognize an inner

deutsche bank alone paid $2.5 billion.ther the whistleblower nor the firm accused of his conduct -- accused of misconduct were identified. the cftc says the tip prompted another regulator and a foreign agency to bring similar allegations. again, the london financial district was rocked as much as wall street by this. in this case, it looks like reporting the crime pays. paul: what do we know about previous awards? >> the cftc has begun this program of paying out whistleblower awards. the idea is clear. it takes a lot to convince people who are witnessing these kinds of white-collar crimes to drop a dime or supply documents. we definitely saw that with the facebook case where it can be controversial to come forward with this documentation. that said, the cftc has paid out $300 billion since they began with the program in 2014. this is the largest payout to date. the rules allow up to 30% of the sanctions received or collected by the regulators to be paid to the whistleblower. that explains why there was such a large payout

they don't like our tea deutsche, because it has broken their monopoly and the dictate of opinion in german journalist journalists who practice journalism. the praises do authorities instead of critical journals do not like such competition or they don't like it that a mirror has been put in front of them in which they can see what they really should be doing. ok, that's the weekly for this hour. thanks for watching more great l t programs on the way for you that sunday. i'll be back here in just have off and out. i have to say that ah, managers finance is a viable guy. liquid assets are those that you can convert into cash quite easily. but keep in mind, no as a watch guys report ah, come with me is we'll work with the toyota insurance underwear which was completed in the knob. normal quote is researchable con. listen. can easement leave to show right alexis ah with mm hm. hello, welcome to was a part the most international formulating that reaction to use the throne from a gas that is quite a challenge to many pros and cons to tightly intertwine. there is no exception. while the in

they've denied trump and deutsche bank that there was any special treatment but they haven't explainedee us when you got that and more. >>> that's going to do it for me. i'll see you again tomorrow at noon eastern. my friend, yasmin vossoughian, is continuing our coverage in just a moment here on msnbc. tin just a moment here on msnbc. ♪ there are beautiful ideas that remain in the dark. but with our new multi-cloud experience, you have the flexibility you need to unveil them to the world. ♪ ♪ limu emu & doug ♪ got a couple of bogeys on your six, limu. the world. they need customized car insurance from liberty mutual so they only pay for what they need. what do you say we see what this bird can do? woooooooooooooo... we are not getting you a helicopter. looks like we're walking, kid. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪ (vo) subaru presents... the underdogs. they may have lost an eye, or their hearing, or their youthful good looks. but there's a lot of things these remarkable dogs haven't lost... like their ability to lick, wag, and love with the best o

right now, hugely anticipated we speak with george saravelos of deutsche bank.toughest job. peter huber, matt lizaetti are churning away and george has to figure out the economic dynamics and what it means in foreign-exchange. he joins us this morning. what is your dollar call? george: great to see you, tom. i think the risks are using moderately stronger dollar until the end of the year. there is much more going on in the market than just the inflation story which is dominated this year. i was following with interest the interview you had with mohammed after the u.s. numbers last week and he was focused on the inflation upside. but at the same time you have big downside growth to those numbers. i think there are three things going on in this last quarter of the year. number one, we are getting pessimistic messages on the supply side of the global economy. one of my favorite examples is if you look at u.k. total hours worked, it is 8% below where it was pre-covid. we are talking rate hikes in the u.k. the consumer is not gangbusters. this is not the same as q1.

matt lose eddie of deutsche bank -- matt luzetti of deutsche bank has a call.hike is coming. tom: we have to adjust to what we see, but what i have heard from the pros, maybe you do it just atlanta gdp now -- to adjust atlanta gdp now to be not so gloomy. lisa: this is actually the base case priced into markets. you could argue whether this is hedging activity or real, but nonetheless, you ask this earlier, at what point is the fed's hand called by inclusionary impulses that continue to run hot? what does that do if they do raise rates? what does that actually materially affect in the inflationary outlook? jonathan: i like the distinction between trades going on and trades coming off. that is important. lisa: i appreciate that. jonathan: team effort, isn't it? that's what it is about. [laughter] lisa: holding hands, arm in arm, socially distance. jonathan: euro-dollar unchanged. the bond market unchanged. there's your wednesday morning. chairman powell friday. that is what we are building up for now. i 10 of earnings in between. from new york city, on radio com