what is barclays wanting from africa? what does africa give to barclays?een here a long time. what we think is it provides access to hire growing parts of the world. 5% compared to what we have globally. it is coming off a lower base than the rest of the world. there is a phenomenal opportunity for emerging middle classes. the ability to use technology to serve people. and of course to circulate all of our great products and a knowledge. it may come from africa to the u.k.. there is great opportunity for shareholders. anna: does it make sense that africa is part of the business? it has been a part of the business for a long time. when this is a business that is about credit cards, investment banking. personal and corporate inking. -- banking. does it make sense for the fourth pillar to be africa? antony: if you look at our business in africa and the u.k. it is very similar. wealth management, credit cards. the trick is to create synergies. for shareholders, they like the exposure a higher growth part of the world. it is up to us to deliver the economic ben

ashley: why is barclay's get south? . >> two things for barclay's, they are under tremendous pressure from u.k. regulators to downsize. this is an easy thing to sell. people want it, and you can make the deal. and they're clearly under pressure to downsize the u.s. operation, if you talk to analysts, all the u.s. based firms of u.k. banks and foreign banks, they are going to look for ways to downsize, and this is an easy way to do it. i will say we will know whether stifel is going to buy barclay's u.s. wealth management. the price, i give it a 90% chance. ashley: maybe by the end of the week? >> by the end of the week, can't say it's a done deal, lot of balls, lot of moving parts here, but ron is in town, we understand he's trying to put the final touches on this, and keep you abreast. a lot of brokers at stifel and barclay's watch fox business, i should point out. ashley: charlie gasparino. >> either way i'm right. ashley: you're right. you can't go wrong. closing bell ringing in 42 minutes. american pharaoh getting a

alix: this is the time to call what we saw from barclays today, barclays is seeing only a 4% gain in global equities from now till the end of the year. and the u.s. market relatively flat. some emerging markets in japan will perform better because of earnings revisions. what do you think of that? 5%hony: our forecast is for to 9% gains for the equity market, probably the lower end of that. but yes, it is a slower return environment. do not dispute that. it is a reflection of what is happening in the entergy texas -- the energy sector. when you compare to look at what we see in the bond market, very limited opportunity, we think stocks are still the best place to be. overseas, we are not entirely convinced europe is on better footing. we think the basque risk-reward is in the u.s. japan has a better case. our focus is still on domestic equities. alix: right now i think that isce greece is the -- exiting stage left, people are refocusing on policy diversions. the u.s., given consumer spending increases, given the u.s. economy is gaining steam, people are saying, ok, the fed is going to

erik: steve will's is buying barclays.d 180 financial advisors in america and they managed to $6 billion worth of assets. this deal is scheduled to be completed in november. global sales of mcdonald's are still falling. for now, they are dropping less than expected. that could be a sign of progress under the new ceo. sales dropped .3%. analysts were looking for a .9% decline. that is where they are this morning. let's talk about sears. they are a struggling retailer and they had a smaller loss in the first quarter. there is a strategy of selling off assets like lands end. they are setting up a real estate fund and will buy store locations and then lease them back to the company. those are your top headlines for the time being. stephanie: deutsche bank is just the latest of europe's biggest banks to undergo a major leadership shakeup. what will this do to reshape the tanking system? let's ask christine harper. we have not seen her in ages. it's like bringing back an all-star. what is going on at deutsche bank? what are they

morgan stanley, bank of america, barclays, deutsche bank, hsbc, jpmorgan, suntrust bank -- all of them lining up, some of them committing more money. uber is getting half a percentage point below what competitive rates are out there. is it a sign of uber moving towards an ipo? they already have plenty of cash on hand. we have paul sweeney joining me now from new york and cathie woods.

barclays is making very good progress.est of the year to be the same. >> investment banking, do you see a need for trimming that business or have we seen all the trimming we are going to see? mr. jenkins: we are running that business and making good progress. i expect of her time you will see more of this and less of that. we have been out reductions were part of our plan last year. we have not announced any more reductions. guy: injury jenkins in south africa. francine: dish network is in talks to work with t-mobile u.s.. the two sides in close agreement about what the combined company would look like. dish's chief executive charlie ergen and t-mobile head john leg ere surfing as ceo -- serving as ceo. guy: nestle's maggi noodles banned in dehli after a test showed lead content above the limit. nestle has not received orders to remove the products off the market. francine: berilin bracing for an influx of football fans. the uefa cup expecting to put strain. guy: hans nichols on a plane back to berlin. up next why plastic

it says "brooklyn burger cheeseburger." >> both: "barclays signature prime beef." >> that's not barclays beef. >> it's ours. >> did you see that before? >> no. >> but see, these are the details that matter. we're spending $180,000 a year. as i walk around the stadium, i don't even see $18,000 worth of value. i see the batchagaloop burger. >> it's made with a brooklyn burger-- >> so they have a burger in here that's not called the brooklyn burger? that's a problem, right? the sports contracts that we have don't justify any sort of investment. i've made the decision to terminate all of the sports contracts, and save over $400,000 a year. we're gonna focus on selling these burgers in grocery stores around the country. look, i'm as enamored as you are by the glitz and the glam and the logos and all the fun stuff that goes with it. but at the end of the day, it's a business decision, right? >> correct. >> so it just doesn't-- although nice, the economics just don't work. >> and who gave you the p.o.? okay, let me check with frank and i'll get back to you. okay, bye. frank? >> yeah? >> you're

a lot of people see barclays old lee command wealth management thought barclays would be people thereurning to but they have some problems signing guys up getting them to stay at the prm. some people are balking out. >> pocket was trading teams and then broker -- >> when you -- a lot of viewers they have a few bucks they want to invest. what do they go to a broker that broker is part of a team and stays at a certain firm when they leave that firm, you know, they go for an upfront bonus and they want to stay. they try to get can be keep them retaining bonus that is what is beginning on right now. those brokeers may leave may not leave in the end i think it will get this. that is my opinion. >> dollar secure on how much they pay? >> we don't know until they can sign up brokerage teams and then figure it out. that is a pretty good issue to sign them up 250 brokers something like $50 billion and sign all of those up, that will be one number. and i don't know what that number is. but only sign u up half of those that will be a far different number that is what ron ceo is saying, stefle dro

now, barclays and hsbc have declined to comment to us.tered has commented and said we are aware two payments cleared by us mentioned in the indictment. we're looking into those payments and we won't be commenting further at this time. francine: mark give us a sense, we had an interview with the i.r.s. investigator, what did he say, more to come, more names will be dropped? mark: you said it, francine. a new phase could be in the offing. we spoke to the i.r.s. chief investigator and he told us the investigation is moving into a new phase which will bring further criminal charges against most people. he said the case hinges on the development of the fate of those 14 people remember, in this 47-count indictment, 14 people were indicted nine current and former fifa officials, four marketing executives and an intermediary as well. don't forget also, francine, it's a three-pronged investigation, you have the i.r.s., the f.b.i. and the d.o.j. essentially looking into the activities of american officials. listen to mr. webber he says further crim

jeff skversky is at the draft live at the barclay center in brooklyn. >> reporter: hey jaime does it get more exciting than this we are hours away from the sixers picking third overall. and barring a curveball by the lakers or minnesota third overall who it will be is anyone's guest lets look at the top draft picks they are in the house here in brooklyn at the barclay center they arrived moments ago and taking a picture on this stage and barring a trade the sixers will walk away with one of the future stars. one is deangelo russell, and emanuel mood ea. and anything is possible. all three guys have no complains playing for the sixers. >> i would rather go 14th or 1, wherever i go with a team i know i can stick and become a franchise player or be a one and done hit or miss type player. >> i would be happy with any team. >> i am expecting the worst hoping for top five and living my dream of playing in the nba, i am excited either way. >> sixers big man nerlins noel, say if they take another big man, he doesn't see it as being an issue along with himself and deangelo russell one of the

but the people i talk to close to people at barclay's wealth management unit that this is done, only thing that needs to be hammered out is a price, that will come sometimes after close of business today, when stifle, finds all of the brokers that stayed, they know what they are buying, and then the price will be probably in matter of 300 million to 500 million dollars, here is what we have, we have stifle from one of the more dynamic executives on wall street that no one heard of building a rival to major wall street firms, 3,000 brokers, not quite 18,000 of morgan stanley but he is by a series of small accusation like this over last 5 years, he has quietly built a big nationwide firm, he is one big merger away, in my view, say ubs wants to sell to him or merge with them to run a firm that is up there with morgan stanleys and merrill lynches, the gold in the business of dealing with small investors, monday, likely, deal gets announced. i say likely, you never know what they will final last minute. but we should be reports monday this a done deal, we brought it to you first, yield le

they have agreed to buy barclays .cuss the deal and what the bank is eyeing next is the ceo. welcome. we never get you in the flesh. an outsider would say, hold on. a missouri bank organization buying barclays u.s. wealth management unit? where'd you get all this dough in all this capability? ron: i love coming to new york. you think everything west of the huston doesn't line up with anything. we do have some money in the midwest. i promise. we have to go to the backyard and dig it up, but we have it. it's a great transaction. wealth management is a great business. it's a relationship and it's what we excel at. it's our core competency in that business. it's a great deal. erik: you're getting 180 brokers? that is very key. i understand your reticence. what is it going to take to keep these guys on board? ron: a good thought -- platform and a culture. it takes retention. people don't stay for money nor do they leave for money. stephanie: yes they do. erik: 300% of the revenue generated if you're making $1 million a year

barclays has reached a settlement over the acquisition of lehman's assets in 2008.will receive all but $80 million of the 1.1 billion dollars in assets which were in dispute. will boost first-half pretax profits by $750 million. connecting anis internal investigation into possible money-laundering from russian clients. the probe may involve $6 billion in transactions over more than four years. the german lender is analyzing data from 2011 through 2015. this follows a request from the bank of russia for deutsche bank to examine the stock trading activities of some clients in the country. two of europe's biggest wireless and cable providers are in talks to swap assets. vodafone confirms it's in the originally -- early stages of company --s with a liberty. in horse racing, american pharaoh goes for the triple crown in saturday's belmont stakes. advertisers may be the real winners. of its horset 90% racing adds long before casual sports fans had heard of the horse. now sponsors like long jeans and ram trucks are poised to benefit from that bump. at the price of a privat

john barclay entered the world at 8-pound 11 ounces. not be getting much sleep in the couple months but he's okay with that. >> kind enough to come right before fathers day and giver me a little present but it's the best feeling in the world. >> the phillies have the worst record -- road record in baseball, seven and 20. i wish i could tell you they would be home tonight. i'm far too honest for that. the phillies visit the reds. >>> cole hamels gets the start he has a 10 and zero record. his era against cincinnati pun .45. the phils just wrapped up a three and six home stand but jeff francoeur says he sees improvement. >> i kind of like the way that we're grinding it out right now. and you know especially the first two days in cincinnati we got cole and aaron going and hopefully we can jump and take the first two. >> stanley cup finals in chicago for game three. blackhawks and lightning tied at a game a piece. >>> nba finals tied at one. lebron james 39 points 11 assist performance in game two last night. the warriors hung tough. steph

the line at barclays.h the rebound in oil prices, the companies will be attempting to shrink thee recount, which will be negative for pricing of rates. interesting that the higher oil risk to thebe a rakes. companies like transocean are falling today because that is one of the stocks falling over at barclays. servicesing other oil and drillers companies also falling during the session. an interesting call. you would think rising energy prices -- erik: the producers want the pressure on the services company. they do not want to start really more until the pricing of oil services drops further. aey are effectively playing waiting game. i know a lot about this because i talked to the ceo of chevron about it. east of sansit him francisco in california. outlook forout the prices. the hess corporation, a big oil company, chevron, $200 billion. here is what john watson has to say about whether oil is likely to go higher or lower over the long run. john: if we think about the longer-term, we are more likely to be

the former dallas fed president going to join barclays as a senior advisor.hard fisher former dallas fed president to join barclays as senior advisor effective july 1st. a note of the investment bank at barclays tom king saying his exceptional knowledge of monterey policy and regulatory matters will be of tremendous value to barclays and our client. just this past week he joined the at&t board of directors. back in march he joined the pepsico board of directors. now you can add senior advisory role at barclays to the private sector list of jobs richard fisher has taken on. back to you. >> you had us going there for a moment. saying we hope he's okay. obviously, he is. thanks dom. >> about 38 minutes left in the trading session here. the dow is hovering near the lows of the session. down 295 points. >> we'll head live to the oil pits next. >> david rosenberg will tell us how the greek crisis to affect when the fed starts raising interest rates. something else for us to think about. ♪ every auto insurance policy has a number. but not every insurance company und

lakers and the draft is being held at the barclays center in -- and those of the top headlines.eason kept going and basketball kept going and i wish hockey kept going. these are the hockey awards last night as well. it was great. it really shows what modern sports can be. vonnie: you can never have too much hockey. tom: let's go to the bloomberg terminal. excuse me, a pantheon of economics will help me out here. here is the poor ecg, janet yellen cares about this and 2% is where we want to be. the average for 20 or so has been 1.75%. there has been this persistency down here beneath. how big a deal is it that the fed cannot get back to where they want to be? >> they have retained their usual confidence that they will in the couple years time in that forecast. what is serious is that if you put the cp -- the cpi on that chart as well, you can see it picking up over the last month. the widening gap. tom: i agree but others would say that we need stimulus here to get this up. ian: i don't think we need any more stimulus. i think we've got enough in the system and they came through

and barclays comments, this u.s. economy is the most capable of generating inflation.sest to a rate hike. we had a conversation with standard chartered saying that nonfarm payrolls will be 240,000, and the fed will go for a hike in september. going into the third straight week of gains for the dollar 97.1 five. the dollar is a little stronger but have a look at the euro. 109.43. and manufacturing data across europe consumer prices are expected to show the first rise in seven months. but coming from alexis tsipras, is opened peas in the newspapers, quoting hemingway, talking about for whom the bell tolls, that is what europe should reflect upon. we have a significant amount of moving that we have don on our behalf, and now it is up to the creditor nations. they have broken the 55-day moving average. the next big big training level is 108.49, and there is a fair distance between now and that. keep an i on the aussie dollar, as well, and china is destabilizing. that is pretty much what the purchasing index says. in expansion mode. the aussie dollar remains different. the

mark: steeple financial is buying barclays in the u.s.. the terms were not disclosed. roughly 180 advisers in the u.s. and manage $56 million in total asset clients as of may 31. the deal is expected to be completed in mid-november. trying to bee is more competitive in cloud computing services. they will build a high-speed network and upgrade how it was data centers together. they want to take cloud computing business away from amazon, google, and microsoft. mark: boeing is considering whether to build the there was ist body jetliner --narrow jetliner ever. they want the claim that lies larger and farther than current narrow bodies. scarlet: airline profits are expected to set a record this year. earnings will top $29 billion. that is up almost 80% from a year ago. north american airlines will account for more than half of that. the reason for higher profits, lower fuel prices and a stronger economy. mark: american pharoah will get a vacation before racing again. the first of a crown winner in 37 years return to kentucky after winning the belmont stakes on saturday her

it is a complete victory for barclays in a battle going back to the start of the financial crisis.have reached a settlement with trustees for lehman brothers. the bank will receive all but $8 million of the 1.1 billion in assets that were in dispute. pretax boost barclays profit by $750 million. allie baba wants to bolster its presence in the u.s.. china's largest e-commerce company opening a government affairs office in washington. the person that will run it will , a former gmtier executive and official in the bush and ministration. the labor department delivered her worst nightmare. the u.s. economy created 280,000 new jobs, hourly wages up to .3% compared to last year. treasury prices fell and yields leaped. this seems to be the perfect scenario for all of those bowls in the market. that we got today with the jobs report, right? mohamed: this is a good report likehere is a lot to about it. wage growth, 2.3%. people are coming back into the labor market. all of this points to a healing labor market. the market reaction was textbook in terms of the yields higher, the dollar stron

to barclays.ntrary barclays is seeing only a 4% gain in global equity from now until the end of the year. seeing the market flat is going to be europe and japan that is going to perform better because of earnings revisions. our forecast is for 5-9% gains for equity market, the lower end of that due to the lesser earnings trajectory. it is a lower return environment. it is the reflection of what is happening in the energy sector. there is a possibility for additional gains. we think stocks are still the best place to be. we are not entirely convinced europe is on better footing. the best risk reward is in the u.s. japan is a better case. our focus is still on domestic equities. exitingnce greece is stage left people are renewing their focus on policy divergence. since the u.s. economy is gaining steam, people are saying the fed is going to hike, let's go back to this to virgins play with respect to stocks which could have been the reason why stocks took a leg lower. given the positive data it bolstered the case of for the fed to take away the punch bowl. another fascinating nugget they sh

the 68-year-old was most recently the vice-chairman at barclays.e will be focusing on financial institution clients. over the collapse and emergence from bankruptcy in 2009. time is running out if you want to book the power lunch with warren buffett. pricesow i'm even the $1.6 million. three years ago it went .3 $.4 million. he warns that he will not tell you what he will invest in next. the president of the federal reserve bank says that the fed is likely to raise rates this year. christine lagarde said the fed should wait until next year. eric green joins us now. a former fed president. eric: no, though i wish i were. alix: former fed staffer. what would you do? eric: i would not hold off until 2016. domestic mandate. they have socialized the whole notion of higher rates for 9-12 months. they want to raise rates, the question is will they have enough breathing room for that bias to be realized. i suspect it is not about inflation or jobs. it is about growth momentum. as long as they are seeing stronger growth, it is the direction of growth. that

that's the barclays note.he hottest stock in terms of fight going on at this very moment is ambarella. >> it was also a good. >> jane fonda. >> here's the -- i don't understand how that could be. jane fonda is in brel la. not really. citron which is sometimes good and sometimes bad. they put out a piece saying ambarella is way overvalued. i question whether that's the case but this morning there's a lot of movement. here's the thing about ambarella ambarella. this is not just a go pro story. it's chow me which is how you pronounce it. it's koimcomcast. it's all remote every time you have those. some of the remote security camera, it's them. this is a connected play and it's a strong play. let's not say it's a go pro play. it's bigger than go pro. >> all right. >> so ambarella, the battle is on. shorts versus longs. i was going to mention fitbit but i'm so hated at likingeing fitbit at 30. i do think that there is fitbit people shorted that on friday ambarella, people heavily short that. 25% of the float. nobod

was: for that reason, i reading some notes from bank of america and barclays is that we are seeing a little bit, but we are seeing it as of subdued -- as a subdued trend. blipis just a short-term than? -- then? the biggest thing that you have to look out for is confusing reflation compared to inflation. that is comparing to where we have been. i think the euro, i think when the euro zone interest rates start moody -- started moving 1000% inwere up about terms of yield at one point just from april, but at that time i think the yield was 0.075%. alix: so put it in perspective. so if you put it in perspective, we are coming back. and if you look at the fourth quarter of 2013, everyone thought we were going to be at 4% in 2014 on the 10 year. energy prices, is it keeping it down on a slow-moving economy? before we go, we have to talk about the fed next week. really quickly, what is your call? joe: the two meetings in place, currently the fed is not looking, .01%, it is off the table. carl: it is not going to happen. they are going to tweak their forecast and altering the former guidance

barclays hasn't disclosed how much it accepted. stifel, as you heard the ceo say, he wouldn't say how much it cost. brokerage sources have a good idea, they're saying stifel paid 400 to $450 million. firms are trying to attract other brokers, high-net worth individuals that watch our show, and that price that they priced in here, certain percentage, like 150% of assets under management is how this skam -- came out to be, this is going to reverberate through wall street over the next couple of weeks. liz: consolidation gets so juicy. >> or stealing, stealing, poached. they're not stealing. liz: that happens all the time, teams brokers. >> here's the thing, when your broker going to another firm, remember -- this is where the small investor has to worry about the poaching. ron pays between 400 and 450 and gives retention bonuses. they have to make up the retention bonus based on having you do more stuff with them. remember broker often wants you to do more trading, even if it's not your best interest. he has to pay the up-front bonus

louis based has final sealed the deal buying barclay's wealth management brokers, multitude have knownut that. joining us now to talk about it is ceo ron and the man who broke the story. fox business senior corresponded charlie. welcome to you, both. ron, what does this mean to a wealth management company like yours where you already had billions of assets under management. >> well, it's great. yeah, i want to is that charlie wrote the story to me before i knew about it. >> how does that work? >> i tell you. i was in st. louis saying that was a good idea. >> i don't know about stifled though. >> and i corrected him. >> you did. >> you know, i listen to this, i listen to the contrast on this music story; right? and this music is all about technology and everything and you can take that in our industry and talk about the same thing. and what this is, what i'm excited about this is that this business isn't going to be for a long time about relationship, about people, and that's what the barclays deal is, it's about great advisors. >> how much did you pay. >> i didn't disclose that. >> he

there iscredit markets a great report by a barclays analyst today and they were talking about how credit trading had fallen to the lowest level of the year in the past week because there has been such uncertainty and greece, in china about the fed. it's just getting too much and people do not want the risk. comingler conditions are down. the assets they have on their books are coming down. people are trying to clear off what they've got. i want to talk about something happening in the u.s. good news. consumer sentiment rising to the highest level in five months. scott, we have gotten a lot of good dado lately. strong consumer consumption numbers, strong consumer sentiment. do you think that this is a risk that the fed hike to come with some acceleration? scott: i think consumer confidence has risen, business confidence has risen. we expected it to. that is pretty much a coincident indicator. i think though that the fed would really not have to do anything this year if they did not want to. saying that, i think there will be a token hike in september. the probability of that is a little l

we saw core equipment improving like machinery and metals and i read a note from barclays saying perhaps the peak dollar drag is over. joe: that number has a history of being messy. the parismonth before air show, so some sales get depressed. you can put too much stock on one number. alix: i was looking at airline stocks, finishing relatively flat but had a pop earlier in the section -- in the session. talk a lot about the transportation sector -- dow jones transportation not holding up as well, but it has been continuing to climb and airlines are part of that. everything people said was going wrong in the market seems to be going fine again. that is the big take away. alix: globally, we have to break down the manufacturing data. pmi day.ve flash we get lots of manufacturing data from around the world. we get regions and an interesting story -- the u.s. and europe still strong. china's number was still contraction. it was a bit better than expected, so that is your nice snapshot of the world's manufacturing region. alix: joining us to break it cliff and chad -- you are looking little tan

barclay mill road and centerville road lancaster pike gets you around that. >> this is breaking overnight. 8 people and a pilot are dead after a plane crash in a alaska, cruise ship passengers on a sightseeing tour up on the plane. authorities have not said why the plane crashed into a cliff. 8 passengers were from the westerdam cruise ship. the sightseeing plane crashed against a granite rock face. federal officials say the weather is hampering recovery efforts. >>> president obama will mourn with the city of charleston, south carolina where a gunman killed nine people. the president will deliver the eulogy for clementa pinkney inside the ame emanuel church with the shootings took place. >> reverend pinkney was a serve haven't to all we say thank you to brother pg -- pinkney for the work well done. >> the family of suspected gunman dylann roof released a statement saying they know peopler asking questions about the 21-year-old but they don't want to say anything while the victims families are grieving. "good morning america" will have a live report from charleston at 7:00 a.m. >>> video

. >> new york knicks fans were at the barclay center booing because we recognize that we have been hoodwinkedand flat out deceived by phil jackson and the new york knicks. >>> just ahead jurassic"jurassic world" faced a foul mouthed furry contender. how's it progressing with the prisoner? he'll tell us everything he knows very shortly, sir. as you were... where were we? 13 serving 14! service! if your boss stops by, you act like you're working. it's what you do. if you want to save fifteen percent or more on car insurance, you switch to geico. it's what you do. i'm caridee. i've had moderate to severe plaque psoriasis most of my life. but that hasn't stopped me from modeling. my doctor told me about stelara® it helps keep my skin clearer. with only 4 doses a year after 2 starter doses... ...stelara® helps me be in season. stelara® may lower your ability to fight infections and increase your risk of infections. some serious infections require hospitalization. before starting stelara® your doctor should test for tuberculosis. stelara® may increase your risk of cancer. always tell your doctor if

they get an authorization for that, but what the strategist at barclays are saying is that announced the buybacks are actually good for the stock, completed buybacks are better. that the big jump in announced buybacks is basically due to a couple of big names. ge announced a plan to buy back as much as $50 billion in stock, but in 2015 they will only buy back about 8 billion. he is saying that this boom is not necessarily going to buybacks thisted year. one of the fascinating data points in the report was that if you add up to the dens and buybacks in those countries -- companies, they are paying out more than they are earning and profits, which is a kind of unsustainable thing. you cannot continue to pay out more than you are earning. he did not get into this, but especially with interest rates headed higher and cutting off the credit that companies are using, making it more pensive to buy back shares. alix: people have been -- joe: people have been talking about the idea that these companies are borrowing so much for buybacks that they are becoming significantly weaker because of i

. >> barclay's chief economist is with us, we'll be aware that we have this offer apparently coming from greeks, what chance does it have of success now as we tick down to the end of the bailout as it stands at the moment. >> i would say not a very high chance. they had the opportunity to table an offer and this appears to be an offer for a two-tier program. if they were not able to agree on a program extension, it looks a little odd that they would agree on a full two-year program including osi debt relief. so it doesn't sound, it doesn't look very credible at this point. >> yesterday john claude junker accused the greeks of distorting the way in which they had made their counterproposals. before of course they unilaterally said let's have a referendum. what do you think the game of the greek side is now to come through with this type of measure, if as you basically say it's a nonstarter from the beginning. to whom is tsipras playing? >> i think tsipras is trying to show they're trying to compromise and find a solution up until the very last minute. which is basically today. by midnight

morgan stanley, bank of america, barclays, deutsche bank, hsbc, jpmorgan, suntrust bank -- all of themining up, some of them committing more money. uber is getting half a percentage point below what competitive rates are out there. is it a sign of uber moving towards an ipo? they already have plenty of cash on hand. we have paul sweeney joining me now from new york and cathie woods. paul, i want to start with you. why is uber taking out this line of credit if they don't need the money? paul: it is the first step of going public. we have seen this move in the past from other early-stage companies, tech companies that are really hot on wall street. by going to your banks and singing we want a line of credit which we think most large companies should have, it shows that a lot of these banks are committed to the company. they look at the commitments made at the credit companies as a precursor, a gauge at how much the companies could depend on these investment banks. yes, it is always nice to have a lot of credit in the marketplace before going public, but it is also a little bit of a road

the 68-year-old was recently a vice chairman of barclays. he starts work in new york this summer.k presided over his collapse and emergence from bankruptcy in late 2009. this year'sto book power lunch with warren buffett, on ebay the top bid is $1.6 million. it might prove to be a relative bargain. three years ago it went for $2.4 million. buffett will not tell you what he's going to invest in next. bidding ends at midnight tonight. bill dudley said the fed's like to raise interest rates this year. saidrday christine lagarde the should wait until next year before raising rates. eric green is with td securities and he joins us now, a former fed president -- eric: i wish i were, but no. alix: what would you do if you were in the fed right now? hold off untilot 2016. when you think of the imf, they have a different mandate. the fed has a domestic mandate. the fed has socialized the whole notion of higher rates for almost nine to 12 months. they want to raise rates. the question is are they going to have enough reason room for that bias to be realized. i suspect it's not about inflati

. >> new york knicks fans were at the barclay center booing because we recognize we have been hoodwinked bamboozled led a stray, run a muck and flat out deceived by phil jackson and the new york knicks. >> apparently it was that serious. just ahead, new details surrounding a second prison guard arrested in connection with the new york prison escape. >>> baby number two is on the way for bristol palin. "first look" is back. when a moment spontaneously turns romantic why pause to take a pill? and why stop what you're doing to find a bathroom? cialis for daily use, is the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backach

shares down, barclay is shutting off another business, i mean following up on their commodities andu will kind of stuff, and coninstant consolidation. >> i think what is going on all kinds of financial industry moving out of banking into places regulatory are not able to find it. >>, by the way, breaking headlined may global comp store sales from mcdonald's down 3/10 of a percent the estimate down 9/10 of a percent better than -- sales in u.s. much worst than expectations u.s. the slow story, for scorch store sales for mcdonald's. >> all franchises are getting prison of pis in a taco bell launching you know, healthier items on menus, all chains changing mcdonald's has been slowest most reluctant to change officers presupposed services slowed but hey not as bad as expected. >> they are getting squeezed by the chipotles of the world and smash burgers of the world. >> a mover today president obama in germany to address world leaders for g-7 summit blake berman in washington with that story good morning blake. >> hi. good morning to you, again a host of global threats are on a the agend

. >>> in sports your philadelphia 76ers pick third in tonight's draft at barclay center in brooklyn. we will find out the next member of your rebuilding sixers. this starts now. one of the players gm sam hinkie pick up on draft night 2014 nerlens noel held his basketball cam in hatfield, montgomery county. nerlens was asked about draft night and how much of a lift the new players can provide in reaching, watch this, the goal boom. >> oh, man most nerve racking day you will ever see. you look down and you just want to be drafted with everything you go through. you just to have play your game work hard and things get better and better. >> well, flyers open up their season thursday, october 8th, a against eastern champion lightening in tampa. home opener is october 12th against the florida panthers. >>> nhl commissioner gary bet man announced some changes for this season including challenges and overtime three on three instead of four on 46789 expansion front runners are le vast as, seattle and quebec. quebec had a team until 1995, nordiques. they will pay a 500 million-dollar expansion

the capital one venture card and barclay card arrival plus, both allow you to wipe off any charge from the airline with your points. >> reporter: plus our experts say you don't necessarily need to pay extra for that extra leg room. instead of booking an exit row or aisle seat wait until you get to the airport and ask a flight attendant at the gate for an upgrade. if you're thoughtful and kind and the seats are available, amy, chances are you're going to get them. >> nice still works. >> be nice. >> thank you. >>> pope francis and a first look at his itinerary when he comes to the u.s. this fall starting with the trip to the white house. a speech before a joint session of congress then to new york stops at st. patrick's cathedral and the united nations, as well as the 9/11 memorial and museum. then to philly for the world meeting of families. >>> now to the world cup showdown american pride on full display. the women's of team usa, the underdogs taking on germany in the semifinals. the two best teams in the world, and tonight one of them is going home. abc's paula faris in montreal toni

barclays says that moved by foreign investors leaves the chinese market, that is likely to continue with economic indicators failing to impress. take a look at what futures are indicating. profithaps half a bit of at the con -- at hong kong. angie, it looks like the watch for volatility as the new week begins. certainly a record in china but a lot of concern about whether this rally will continue. angie: more than 3000 people turned up for the rally well below the 50,000 expected by organizers. elections offering an from its list of chosen candidates, something that pro-democracy groups oppose. onmakers will debate wednesday. this year's paris air show opens on monday and while boeing and airbus aren't unveiling any brand-new aircraft they are expecting orders to exceed past years. their focus has been improving the efficiency of nature models to allow carriers to carry more seats. expectedd airbus are -- at least $23 billion. one of india's largest resource companies is looking to overcome it that trouble by merging its main unit. the tonto resources -- vedanta will free up billions of

. >> for travel schers she suggest the barclay card arrival plus world elite mastercard. >> there's an9 annual fee it's waived for the first year. you'll get 2 miles for every dollar spent, and when you redeem those miles for travel statement credit you'll get another rate of a penny per mile. >> for general spending she suggests the american express blue cash preferred. >> you'll get 6% back on up to $6,000 a year in grocery spend spending. supermarket purchases in that case. you'll get 3% on gas and department store spending and 1% on everything else. so it's a really good deal. >> there is a $75 annual feel with the blue cash preferred card you want to figure out if you'll be spending enough in those areas to out weigh the fee. by the way the key to getting a really good rewards card you have to have excellent credit. credit score of 750 or higher. reporting for three on your side, i'm jim donovan. >>> and kathy is joining us now. you've got your eye on so many things. not only the storm that are popping up but the heat and humidity dangerously high. >> we do. we're talking about op

upgrade from barclays. shares rising. 1.5%. let's shift a little bit but stay in japan. look at other changes analyst recommendations. these are in the auto industry. -- thisactually makes is a seat maker, auto part maker. downgraded. cut to neutral at goldman. falling in today's trade. these names upping their call. neutral for green town. wrap things up as i -- 4.3%.with makess a company that , rice wine. potent stuff. rising on speculation that this new product will support sales moving forward. up 3%. we have the biggest decline, lg. second-quarter operating profits likely down just over 30%. this is according to this note. i will leave it there. back to you. tanne: troubled airbag maker they were.s. -- criticized for failing to spot in pending safety issues. some lawmakers question its legitimacy. >> this audit report is one of the worst i have ever seen in terms of government agencies. ie reason it is so bad, agree, this is not about resources. this is about blatant incompetent mismanagement. let's just go through one of many shortcomings. this is one that jumped o

we have barclays saying we could see parity by the third quarter. bbva is expecting that.e feeling the euro could continue to go lower. let's check on some of the other asset classes. stocks traded lower yesterday up by 0.25%. it was tugging the benchmark lower. h&m missed analyst estimates. meanwhile the ftse 100 off by half a percentage point. once again gdp compared to the eurozone seems to be hitting sentiment across the globe. energy stocks being pulled lower. you can see consumers in 2009 when you look at some of those numbers. on the ground in athens for us paul in frankfurt has it all covered. the two sides are clearly far apart. hans: angela merkel is sounding more like her chancellor. that is a bad sign. at least rhetorically, all of the emphasis is on this saturday meeting. finance ministers will gather here again on saturday. there will be nothing in terms of the eurogroup. there seems to be pretty united. they made it very clear that they would be assessing this next proposal from greece. >> we have no agreements. the institutions will have a look at the last

barclays is forecasting a last-minute deal. >> when you look at what is going on in the greece situation, there is negotiation happening at the moment. past experience shows there is generally a solution found. my money would be on that happening in this situation still. erik: greece is scheduled to repay and those payments will not be a problem. the field of republican presidential candidates keeps getting bigger. jeb bush sent out a tweet this morning urging supporters to sign up and attend an announcement june 15 and reportedly, he will announce in miami he is running president. if bush runs, rick perry will be one of his rivals. he is expected to formally announce later today. and a senator has enter the race for the democratic nomination and i mentioned stephanie would be here momentarily and here she is. start with the five things you need to know this morning impaired we will begin with what else? a global bond market selloff. stephanie: number one is good to start with. erik: a day after mario draghi forecast faster and nation in the euro area, bonds wiped out all of their games

shares are falling after barclays started covering the was a negativers view on the entire sector. price target is four dollars below where we are trading. the rig market is heavily oversupplied. let's show you what is happening to shares of chesapeake. gas producer was cut to perform from outperform. this is a note from her friend over at oppenheimer. lower oil prices have been hurting the cash flow. year to date chesapeake shares are down 35%. much for that.ry we have a lot of oil news today. pimm: yes, we do. matt: those opec guys continue to pump. pimm: yes, they do. marchionne is looking for other merger candidates. anhas been working with advisory group to see of investors would be interested in a gm deal. gm has already said it is not interested. is seeking a plan marchionne is seeking a plan b merger. whole foods smaller chain is going to be called 365 whole foods market. some of the proposed names included clever egg, daily shop, and sprint goods. has been cleared for lululemon founder chip wilson to sell his stake in the yoga wear maker. wilson and his wife own 14% of lul