peter smith and antony jenkins.rg "surveillance ago --tinues -- close surveillance" -- ♪ planine: unicredit capital --hares rise as it offers drop hints at this succession plan from his businesses as see attempts to nominate rex tillerson for secretary of state. china stabilizes the november enough tos the growth withdraw stimulus? i am francine lacqua in london, tom keene joins me from new york . i am very excited to be speaking to sir howard davies of rbs about some of the business models that may be troubled in europe. eichengreen will join us from berlin. i saw the 10 for one reverse sprit of unicredit and it is on the edge of citigroup. it reminds me what citigroup did a million years ago in the united states. francine: if you think about unicredit, the share price is about six and a half percent higher so it seems investors are happy with what they have announced. which isdei paschi trying to raise 40 billion does not get through, as it put our credit on -- more pressure on unicredit? it is a difficult and int

antony jenkins, and peter smith, 9:40.n this show even, debriefs.tter th we see two key white house appointments, and an announcement. then, pricing power. inflation is expected to pick up in the united kingdom. the data is out at 9:30. plus, we look at the former german finance minister's take on the health of the european banking sector. this is bloomberg. ♪ guy: welcome back to the european open. we are 12 minutes into the equity session. this is how cash is positioned. as you can see, flat is the best description. the dax is slightly up. we are watching unicredit. let me show you where we are now. we are positive the stock, down around 5%. now up 1.49%. what i'm learning, and i can learn this from my tliv, which i have up on my screen for you, is that the volume is pretty thin. the average volume, you can see that on your bloomberg. there are also interesting bits and pieces. how are partners maintaining their buy rating on the stock? is ahares issued, there whole bunch of stuff the analysts still want details on. they

recruited-- have antony jenkins. next. this is bloomberg. ♪ emily: turning now to fin tech.ated by london startups. barclays seo antony jenkins announced he is joining the board of the bitcoin tech startup block chain. they explained the need for new finance system. is a consumer application for consumers who want to transect internationally at an efficient way. i am joined by two bloomberg reporters who know the u.k. tech scene well. and carolyn. carolyn, clearly there is a need for more seamless international banking system, and it is interesting that europe seems to me had -- be ahead on financial technology. carolyn: it does seem to be a perfect storm. you have the banking system and then you have tech city. you have startups able to work 39ngside or get into level or a really strong incubator and there are some great companies coming out of london. you are able to go any atm and take out your own money without paying any costs. you've also got some other interesting companies maneuvering things. things that i need right here and right now. i moved copies twice this year

serious questions about whether barclays was committed to staying under the business under ceo antony jenkinsthe new ceo has come in and committed to it. he says the only way we can justify this to shareholders and investors as if we get returns up about 10%. bankingthe investment is back around 8.7%. it is not quite there. be moreping to selective about who it does business with to get it over the be more selective about who it does business with to get it over the top. julie: they are using some kind of new technology to suss out returns per client. it is also surprising to me that they would not have done something like this already. assess clients by levels of profitability. stephen: yes, they did have a previous system, which i think which they have replaced with two new ones. i think the problem before was that the systems were not talking to each other. nobody knew quite how much money they did with each client and there was a lot of trust placed in a relationship manager saying , we might not make money on this loan, but we sold a lot of bonds and we do a lot of hedging. this is a way

. ♪ emily: block chain has recruited antony jenkins to its board as the bitcoin technology provider workspersuade the financial industry to adopt its technology. lenders around the world are under mounting pressure to cut costs and many see digital currency transactions as a way to do it. to bloomberg tv about how this kind of animation is impacting jobs in banking. walks or the middle and back office of any large make you will see lots of people working at computer terminals and all that can be automated and there will be a lot of job losses. and another interest -- industries. emily: jobs are likely to top the agenda between a meeting between president-elect trump and ceos. jeff bezos among those attending. representing a who's who of u.s. tech's most valuable companies. whichternet association represent many of these companies outlined a policy wish list for the president, tackling trade and immigration and neutrality and his positions on the issues head on. michael beckerman is in new york and has been invited -- advising tech leaders on the message they will convey at this reading an

the largest provider of digital wallet bitcoins has added barclays ceo antony jenkins to its board. adopt open source technology to settle transactions. we have an exclusive ceo with former barclays ceo jenkins. assets of 7.3an billion euros. the binding agreement covers businesses in romania and the czech republic. the deal is expected to close in the first half of next year. apple has held talks about investing in a technology fund launching next year. according to a person with knowledge of the discussions. the iphone maker may contribute as much as $1 billion to the spokeswoman apple declined to comment. that is your bloomberg business flash. thank you very much. bond markets have had a torrid fourth quarter due to macro outlook story in the u.s. and a surprise outcome of the u.s. election. what is the story for 2017? and i were looking at the ratio. $44 billion worth of paper come to the market yesterday. i question is straightforward and simple. our yieldsper -- rich? is the market now at a point where it has topped out in terms of yield in the u.s.? for the timeink being -- y