abn amro is the other stock we are watching. abn amro, let me quickly clarify the numbers, it says it plans to euros as anion interim dividend. they will pay a dividend of 45% of the reported 2016 target. that is the main headline coming from them. second-quarter net income comes in at 391 million euros. the cost to income ratio comes in at 357.2. fordend to pay out of 45% 2016 and they are saying their core equity tier one capital ofio is 16.2% as of the end june. those are your reports. let's tell you how the markets are doing. little bounce in the dollar, a real wrestling match in terms of where dollar-yen goes next. , dollar-yen,l dollar index itself bouncing from a three-month low. probability of a rate hike goes above 50% for the first time since pretty brexit. xit.ince pre-bre as dudley, as dudley, as dudley really opens up the best that the probability for a september hike is live. dollar-yen, i have met as well. we've seen a nice turnaround, a nice bounce in terms of what is happening with the dollar. excuse me, a bounc

abn amro second quarter profits are up on legal costs. market in november and said that income fell. once one of the world's largest banks, abn amro was transformed to a consumer lender. and their german competitor have confirmed they are in discussions about a potential merger. a tie out would create the world's largest supplier of industrial gases. however any potential merger is likely to face strong antitrust scrutiny. cisco systems is reportedly to cut up to 14,000 jobs worldwide. according to crn, the networking equipment giant will announce the layoffs in the next few weeks. spokeswoman declined to comment. syrian air hedge funds owner paul tudor jones dismisses 15% of his workforce. according to people with knowledge of the matter, the employees affected range from underperforming money managers to support staff. seenuts, as they have more than $2 billion in investment withdrawal. and shares have slumped in cathay pacific, first-half profit that missed analyst estimates. toy say net income fell $44.5 million usd. and cathay pacifi

nejra: abn amro has said second quarter profits dropped by 35% on provisions for legal costs. state-controlled dutch lender who returned to the market says net income fell to 291 million euros. it was one of the world's largest banks. it was transformed under state ownership and it focused on the netherlands. -- reported first-quarter profits that missed analyst estimates. earningsh brewer says to $522 -- fell million. the company's ceo will be on surveillance this morning at 10:30 u.k. time. and the giant, praxair a tie up between the two companies would create the world largest supplier of industrial gases. any potential merger is going to face scrutiny. shares of slumped and cathay pacific after reported first half profits that would -- that missed. income fell to 45.5 million u.s. dollars. losses from hedging fuel market the gauge from caring more passengers. -- 10:15 u.k. time. that is bloomberg business flash. francine: within the last few minutes we heard that the ways sovereign wealth fund -- that norway's sovereign wealth fund has returned to profit. aton french, when

abn amro warned brexit would hurt. which could impact forward. >> two rate hikes before the tend of 2016 are conceivable. this according to atlanta fed president dennis lockhart. the u.s. economy is likely strong enough to handle one increase in interest rates. it could come as early at september. lockhart pointed to ongoing strength in the u.s. labor market and positive indications inflation may pick up. lockhart's counter part, the new york fed, has also suggested a rate hike could happen in september. he believed the u.s. economy would be stronger in the second half of the year than it was in the first and markets reacted immediately with the dollar ridesing and fed fund futures implying the chance of a september rate hike jumping to 18% versus only 9% the previous day. still low, though. head of strategy at bank of america merrill lynch. great to have you on the show. just injecting a bit of 2 a risk until the market. >> yes, the dollar has been on a roller coaster in recent weeks. the dollar selloff that we had re

rbs acquire the business and it still took over abn amro in is getting out of that business.iness flash update. scarlet: let's turn to the latest results from the biggest canadian bank, royal bank of canada, topping earnings estimates and announcing it is raising its dividend. pamela ritchie joins us from toronto. give us a sense of power and the u.s. operations of rbc through this quarter. important, one of the ones to note is city national bank. it's in the united states and rbc close its acquisition of last november. rbc has been helping to lots of cross platform worked the bank to help bolster referrals and different lines of revenue. the contribution from city national to the rbc overall picture is a huge reason it has seen a nice pickup and profit. the other big piece on the earnings is fixed income trading. they noted a shift in the conversation. ande has been such concern readiness to pounce perhaps on any provisions that are put aside for energy related losses for the last several months. that is being heard back a bit. -- that is being pared back a bit. conversation