barclays taking a battering. let's move on from barclays.na.about the country plans to raise 15 billion dollars to pay for deals reached with bondholders over the weekend. finally drawing a line under its record 2001 default. let's be to andrew barton. marker is thisy for argentina? talk about what is going to change for this country. andrew: i't's huge. i don't think you can understate it. i live in argentina in 2001. we have the default on 95 billion, the devaluation. we had five presidents in 10 days. things were going crazy. then you had the stalemate for 15 years. the administration will say they brought the country back from the abyss, but in terms of argentina for the rest of the world, nothing happened for 15 years. a whole generation grew up knowing what it is like to have hold outs, and had this albatross around their neck. guy: is it a done deal? it has got to go through the senate. of the the president senate came out yesterday and said he thinks they can get that done in four weeks. so, i think, they will get it done. guy: it is

we own 62.3% of barclays africa.r hand, in terms of how the regulators think about our ownership, we own 100% through liability. so we look at the capital charges that we have, funding torges, and it is very hard devote 62% of a business where you have 100% liability. that truncates significantly the returns that are generated locally in africa when they are translated to returns for barclays here in the u.k. we have announced that we will, time, slowly of reduce our state to a non-consolidated position in barclays africa. it is a great bank. a lot of investors are clearly interested in africa and barclays africa. we think there will be significant interest over the next couple of years as we moved to a noncontrolling position. anna: significant interest. have you had any conversations ,ith the likes of bob diamond any conversations on that front? >> we are just announcing this decision today, so there have been no conversations with anybody. this is just public now. we are going to give ourselves to her three years

barclays, glencore in focus. open is next here on "on the move." ♪ hans: -- guy: i am guy johnson right here in the city of london alongside hans nichols. he is over in berlin. moments away from the start of the european trading session. here is your morning brief. barclays confirms it is selling its after is this. -- africa business. we will break down whether he is making the right move. glencore closes 69%. oh metals and oils humbled. numbers were better than expected. slowdown. fresh figures from china painting a picture for the world's second-largest economy. alan greenspan tells us china's economy will slow further. that is showing up in the futures. i am taking your lead. i'm putting the bmi into the numbers. click that futures box. we have negative. let's get over to caroline hyde at the touchscreen for the market open. caroline: let's see if we cannot show off that negativity. asia did. asia stocks picked up. the reserve requirements and the banks. pboc trying to feel stimulus. we so once again lows when

one will be barclays u.k. that will be comprised of barclays retail presence in the united kingdom. and our u.k. credit card business. plus, our lending to small businesses, our small business practice. that's a very strong, powerful franchise. very profitable. it'll be well capitalized, and it will stand very much on its own. then we'll have barclays corporate and international. that also will be a well-capitalized, strong franchise with solid investment grade ratings. it will focus on our investment bank, on our corporate bank, and on our consumer business anchored by our credit card business across europe and across the united states. so we'll have two divisions underneath barclays, which are strong in their own right. ultimately, we'll be compliant with all the ring fence rules, and we'll run it as a sibling structure. >> well, the overhaul at barclays is part of a wider trend to shake up banking. in one way they're doing this is adopting new technology. let's continue this chat. so new technology, this increasing world of digitalization. what's it doing to wealth management and

the investment bank barclays gives dividend cuts. the ceo says he is selling his agriculture division. drop in post a 69% profits, while commodity prices drop. the slowdowns deepens. fresh figures from china point to a bad picture of the mark et. this is bloomberg "surveillance." tom keene is in d.c >. it is super tuesday but we have so many earnings out and the picture is not great. tom: an exceptionally slow day. the barclays story is important but super is the back drop in washington across the south this morning but we need to look at finance and investment. francine, what i am focused on more than anything is trying not to stay up too late to find out who won. francine: because you are expected to follow the market. breaking news out of the euro area. yesterday we had lower-than-expected inflation. today, unemployment overall is a little bit better than expected. that's just the latest in terms of breaking news. up,economy finances coming but first let's get straight to the first word news of caroline hyde. caroline: francine, t

mark: the barclays chief executive there. we are joined now with more on the bank's challenges ahead. is the big thumbs down for barclays shareholders today. >> it seems to be a common theme in the early season that european bank ceos cannot get it outt when they put strategy. with of it has to do capacity of the plans they made, the lack of any concrete evidence of when this thing will be turned around. mark: exiting africa, a good or bad move? >> barclays are arguing they cannot get the full it's with this unit having been only a minority shareholder and it would only be valuable in minorities hands to her that is part of it. they wanted to keep it. make it work with the latest rules and regulations. is it because they slashed dividends? >> it is in response to an unexpected slashing of dividends in half. the prices have actually gone up. they liked what he has done today. there are two stories here. sees hard for investors to where the growth will come from. we have to see an approval in the general environment. vonnie: if

the ftse 100 up despite a big fall for barclays. futures pointing to a positive open to the tune of 100 points. sara? >> now to today's trade of day. our data team wanted to see what march looks like. will it be more rewarding? well t turns out if history is any guide, stocks could see some gains this month. over the last decade, the dow, for example, traded positive eight of the last ten years. but the biggest and most reliable gains actually came from small caps during the month of march. that's from our quant firm. it's a historical guide on seasonality. doesn't factor in some of the weird things we're going through right now, when it comes to raising rates and diverging policies. for more, go to cnbc.com and check out cnbc pro. >> let's get to some political news. it's super tuesday. historically, this is a showdown that ends some campaigns and solidifies others. nbc's tracie potts has this. >> reporter: donald trump hoping to build on his front runner status today with his closest challengers aiming to collect enough delegates

what would barclays do?: we have come out publicly our chairman said that we believe the best thing for our customers and clients in the united kingdom is for the u.k. to stay part of the european union. erik: but what if it does not? jes: we will suffer because our customers and clients will suffer in the u.k. we are a u.k. bank. inside the united kingdom, we will be fine for but if our clients suffer, we will suffer. recommendatione that the u.k. stance of the european union. erik: i want to thank you for this opportunity. just staley, chief executive officer at barclays, here in staley.manhattan -- jes stephanie, i am struck by his discussion on culture, that wall street lost its way, it was all about the money. it has to get back to a world where it is a profession or to how difficult is it to change that culture? stephanie: i thought it was a great interview, number one. antony jenkins had the job before jes and said it is not about compensation and it is about culture and he ended up out on his ear. st

barclays called this morning.art of the huge momentous rally we are seeing in oil -- it has been quite considerable. it is tied up with what is going on in the dollar and that shift lower in the dollar but the short covering rally, one of the most aggressive drops it in shorts. 60% over seven weeks. the rally onaying limited fundamentals. you take a slightly different view where we are on the commodity cycle. we are talking about a strong rally but let us put things in perspective. brent has followed by $60 or even $70 on a one and a half year. -- one and a half year period. is arcentage terms yes, it strong rally but in the scheme of things it is not that impressive. think that there has been a significant change in fundamentals. i think what usually the market does is it basically moves to extremes. the slowdown,ad the global slowdown and definitely we have the supply over collect which led to massive slashing prices. or $30 a barrel and my answer is no. in that sense, ice dill inc. the rally that we have seen -

africa.2.3% of barclays on the other hand, in terms of how regulators think about ownership and barclays are more hundred percent in terms of liability. we look at the capital charges, funding charges, it's hard to own 60% of a business where you have 100% of the liability. the truncates significantly return that are generated locally in africa, when they are translated to returns for barclays here in the usa -- in the u.k.. we will slowly reduce our stakes , two-on-one consolidated, noncontrolling position and barclays africa. it's a great bank, there are a lot of investors that are clearly interested in africa, clear interested and barclays africa. think they will be significant interest over the next couple of years as we moved to a noncontrolling position. >> significant interest. have you had conversation with the likes of mud banks, with bob diamond, who is active on the continental? have you had any conversations on that front? are just announcing this decision today, there been no conversations with anyone. this is just public now. we're going to get ourselves two years to three

kayla is live in london where she just spoke to the ceo of barclays.he'll join us later with highlights. meanwhile, john fort and myself. and recode's managing editor ed lee. good to see both of you guys. dow is up 170 with a pretty good rally all morning long as you can see as we had good auto sales and dovish come mens from dudly as well. the director of the fbi and apple senior vp will testify on capitol hill. comes as a new york judge side with apple in a similar case involving that locked iphone. it could effect the government arguing about unlocking the iphone used in san bernardino. what a turn of events it was last night as we looked at what this judge said specifically. >> specifically about compelling a company to create something that they don't already have in order to assist the government. seemed like some legal things are turning in apple's direction. i read the prepared statement that we'll get when he gets in front of congress later today. to me it's the clearest articulation of apple's argument here but it still seems to me that they

we're ignoring earnings from barclays.e're ignoring barclays. >> glenn glencore. >> how with we ignore these. >> people are not talking about european banks. two weeks ago, a big krconcern. now less so. >> dudley saying downside risks are increasing. he ceasees 2%. >> he caused a rally in china which caused a rally in europe and then a rally in the united states. he was the most sanguine who replaced bullard who was more s circumspect. >> like a pasteesh. >> if not a mosaic. >> huntsman corporation doing the honers. at the nasdaq, alexion pharmaceuticals focusing on therapy in rare diseases. >> there was a period where you thought every biotech would be taken over. the biotech hangover has been one of the big -- >> healthcare yesterday, they just started selling it big time. >> holy cow. >> may have been started by valeant. >> valeant. >> a lot of things. endo yesterday. >> endo -- whoa. >> endo days. >> horizon. >> how is diplo doing? another bad one. >> valeant was in part a focus yesterday. you know, if you ever were in

scarlet: that was the barclays ceo earlier on bloomberg. alix: still ahead, more on barclays. u.s.tocks are sitting near session highs, bouncing back after yesterday's rough and to the month of february. what stocks are on the move when bloomberg markets comes back. ♪ scarlet: this is bloomberg markets. i'm scarlet fu. alix: i'm alix steel. scarlet: julie hyman has a check on the company's missing out on the rally. julie: the rally is continuing to extend. 2.2%e seeing the nasdaq up , the dow gaining 279 points. but there are some losers. this company came out with a earnings yesterday. take a look at this two day chart. down nearly 62%. after the close of trading, executives held a conference call that failed to reassure investors and then some. there's an sec investigation. in response to a question about the investigations impact on fees and expenses related to relationships with another company, the ceo's head there are costs that flow through. it is unclear what's going to happen in this case. kevin barker said profitability for this company is still a long ways out. this is b

barclay's. st. barclay's. and where is it? it's 4 blocks uptown, one block east. where's the emergency entrance? under the hospital. just follow the signs to the e.r. ok. hey, look who's back. hello. is she awake? is that aaron? are you aaron? yeah. kate, we made it. thank you. don't thank me. thank your partner. he did it all. [siren] hotch: what's this? secret service. we're directing all emergencies over to lenox hill. i'm ssa hotchner. i have ssa joyner on board. she was injured in the bomb blast at federal plaza. credentials. i appreciate that, agent, but this hospital is on a strict bypass. what is--what's that? it means the hospital is closed. we're redirecting all emergencies to lenox hill. she's not gonna make it to lenox hill. i'm losing her! she's crashing! she's crashing! i'm losing her. please. open it up. his is delta 2. i need immediate e.r. attendance. what do you got? bp 50 over 30, she's bradycardic with severe spinal iury. get her in the bag. get in the crash cart. [voices overlapping and distorting] [crash ok, can i get some help in here? eat u

erik schatzker sat down with the barclays ceo and post 3 arguments that investors have made against barclays staying in the investment banking business. barclays is uniquely disadvantaged by u.k. regulators. >> i don't agree with that. being a u.k. bank is a great place to be. we have a good relationship with u.k. regulators. the u.k. is the fifth-largest economy in the world. we have a great presence and u.k., it gives a foundation and a base for barclays. every multinational has a strong presence in the u.k. we are a corporate banker, helping companies finance and u.k. that gives us a competitive advantage over u.s. banks that don't have the capability. barclays has a great investment bank franchise in new york and london. being one of the few european investment bank's out there is a competitive advantage for barclays. funding costs the imposed on your bank, the u.k. balance sheet tax, bonus caps and the senior management team that putting you -- not putting you at a disadvantage to jpmorgan, bank of america, citigroup, morgan stanley, the list goes on. jes: there's no one at j.p. morgan

barclays has been in africa for over 100 years. barclays africa is a terrific as this.e across the continent. it is a very difficult decision. as you noted, we own 62 point 2% -- we own 62%ca of barclays africa. we look at the capital charges we have, funding charges, etc. it is very hard to own 62% of a business where you have 100% of the liabilities. >> glencore ceo striking an that prices saying have bottomed. why does he think the bottoming out is happening? >> through the whole of last year, we saw manufacturers, not just in china, but all over the .orld, destocking they could feel metal prices going down. no one wants to be holding expensive metal, turning it into small margins. when they see the cycle ends, and we think it is ending now, prices start to lift. we have already seen some evidence of restocking in china. they be not as fast as in past cycles. >> how much more do you see there is filling up to the upside? >> it is really easy to sell the stuff too early. glencore has done very well. it has managed this exceptionally, in my view. it is not that bad. is

a conversation with barclays ceo, and exclusive interview at 7:15 a.m.w york, 12:15 in london. ♪ tom: this important day for i am tom keene. we welcome all of you. mario draghi later today in an interview with the new leadership, freshly minted leadership, barclays as well come all across bloomberg today. we're thrilled to bring you olivier blanchard, working at the imf for an extended tenure, the professor had to get the imf through the most challenging .conomic and research times he joins us in london. francine, do you think we can get the good professor to speak on brexit? francine: i think we can. even the queen did in a quite shady way. olivier blanchard i'm sure will have something to say about brexit. the debate is getting uglier by the day. everyone is being dragged into it. we're just hearing from the former bank saying, look, let cannot keep your trading role with brexit. are we underestimating of the fact this happens this is almost the end of europe as we know it? larger dream, which is challenged by brexit and all kinds of things. but if i l

barclays africa says there is no lack of interest from others.he parent company reduced its 62.3% holding to less than 20%. >> we keep emphasizing that there will be a lot of trade involved, and what we think regulations would look at is the long-term stability. even when somebody who was a long-term investor, a stable we have to look at what management would look at. nejra: we will be speaking life to the barclays ceo at 12:15 u.k. time. that's your bloomberg business flash. francine: i'm really looking forward to hearing from him. there are a lot of questions -- he hasn't been on the job for very long and he is probably finding it tough. with worries over euro area deflation and unemployment stubbornly above 10%, economists are in doubt that the ecb will unleash more monetary stimulus. world's largest provider of temporary staff is with us. thank you for joining us. you perfectly encapsulate the troubles, and you have a feeling on the ground of what the economy is like. overall, the french economy is a little bit better. does it feel better, or

barclays has been in africa over 50 years. barclays africa is a great business.have enthusiastic colleagues. we are across the continent, so it is a difficult decision. as you noted, we own 62.3% of barclays asset shares. on the other hand, in terms of how the regulators think about it, we own 100% in terms of the liability. look at the capital charges we have come of funding charges, etc. it is very hard to own a 62% of a business where you have 100% of the liability. guy: glencore ceo ivan glasenberg striking an upbeat note, saying prices have bought in. why does he think the bottoming out is now happening? why does he think it will get better from here? john: through the whole of last year, we saw manufacturers de-stocking. they could feel metal prices going down. no one wants to hold metal as they are then going into products, so they destock as fast as they can. when that cycle ends, and we think it is ending now, pricing de-stocking. starts to lift. we have seen evidence of restocking in china, maybe not as fast as has happened in past cycles, but it is sti

as you noted, we have 62.3% of barclays africa. hand, how regulators think about ownership, we own 100% in terms of liability. you look at the capital charges that we have, funding charges, etc. it is hard to own 622% of a business where you have 100% of of aiability -- 62% business where you have 100% of the liability. g right?s i.t. why does he think it is bottoming and things will get better from here? >> we saw manufacturers all of the world thdestocking. they could feel metal prices going down. nobody wants to hold onto expensive metal. they destock as fast as they can. when the cycle ends, and we think it is ending, prices start to lift. we already have seen some restocking in china. maybe not as fast as in past cycles, but is still happening -- it is still happening. >> how much more do you think there is on the upside? >> it is really easy to sell the stuff too early. glencore has done really well, exceptionally managing this downpour. is not that bad, it is a slightly different sort of growth. this is more of a consumer or

barclays cut to that equal weight.cial sanctions are it was ainst iran, now market cap of a $90 billion in tehran. our next guest knows a thing or two about it. is the ceo of turquoise partners, any over 90% of foreign portfolio investment on the tehran stock exchange. i'm not sure if i'm allowed to invest in iran yet. we have the first question, where do you see the opportunities in tehran equities? guy: but you just made is a really interesting point, it really highlights what is going on in the world. airbus soliton of planes to tehran. here's the problem, when i spoke to the ceo a couple of weeks back and ask if there was any banks lined up to finance, he could name a single bank that was stepping up. your point is a well-made one. the people are still nervous, and a bit unsettled about what is happening. the banks in particular are not stepping up. that is probably a first good question. >> absolutely, you're absolutely right. basically, the sanctions are lifted and implementation -- swift is now working for all o

barclays rolling out results. the new ceo is laying out his strategy for the future of the banking giant after taking the helm in december. kayla joins us now. she has jes staley. she's across the pond this morning. kayla? >> thank you, andrew. our thanks to jes staley, the new ceo at barclays, for having us this morning. >> great to have you here. >> you said this morning you want to put restructuring behind you once and for all. how sure are you what we got today is the final draft? >> we're very confident of that. we do need to get the restructuring behind us, to focus on the core franchise of barclays. we have a great transatlantic bank that has a consumer business, a corporate business, and investment banking business. the noncore, it started out as 110 billion risk-weighted assets, or 110 billion pounds. we got it down to 47 billion pounds. with some recent businesses that we put into noncore, it's moved back up to 55. but noncore is basically businesses like a retail business in italy or the index business

we had barclays saying the commodities which are is going to get worse.had people say this was the time to buy. yet the stories about hsbc's dividend yields. that's a big concern for anyone in banks. the big -- fix occurs. who is worried about potential higher volatility coming in on the back of this seesaw effect if we start to see treasuries weaken on expectations of higher u.s. rates at the april meeting or afterwards. story, theis kind of picture you paint of the global economy is poised to do something. it probably doesn't make sense. caroline: i want you to tell me where i should be putting my money in this environment. where should i go? >> that is an excellent question. i don't have an immediate answer. every single market is very distorted. as i was coming on, you talked about the european corporate bond market. rumors as there were they were going to buy insurance bonds, it tightened dramatically. they've also got global starks benefiting from altra wrote low -- ultralow interest rate policy. the stocks are still distorted. i look at every singl

. >> we are going to execute here at barclays to get there. do fundamentally believe that if we are going to rely on the global -- e markets -- capital markets, i don't believe the world will feel safe if we rely on a world where the investment banks cannot raise capital, cannot earn a fair return to their shareholders. it is not a stable platform. >> how long before a course corrects, what is the catalyst? >> i think it is happening now. all of the banks are looking at how to manage these balance sheets with far less risk on them, but in a way that delivers profitability to our shareholders. >> here is the third argument, the culture simply cannot be fixed. you are paying $20 billion in fines. a lot of that started here at the investment bank. >> i do believe wall street lost its way in the late 1990's. i do believe money became too much of a motivational factor. banking has to reverse back to the time when it was a profession, when being a practitioner in the profession of finance was like being a lawyer or doctor. we have a lot to atone for

economist at barclays.at mike mckee was telling us about stanley fischer's comments. put that into context for us, what did stan fisher say to give us any indication what the central bank will do? >> his view is consistent that the fed has more hikes coming in. the data will allow the fed to be opportunistic here. things have stabilized a little bit. comment say inflation is generally around the corner and starting to pick up. certainly consistent with at least two hikes this year and not three in terms of what stan will do what you will see is an upgrade to the language in the statement in march. they may even choose to classify the balance of risk. that would open the door for a move in either april or june. >> we also have some headlines. what did we learn? >> she has been active in saying the fed should not move quickly. the fed should work to protect the game it hasn't made. shouldn't take the strength in the labor markets that san fisher is talking about. .hey may not continue slowing growth in china

barclay's. st. barclay's. and where is it? it's 4 blocks uptown, one block east. where's the emergency entrance? under the hospital. just follow the signs to the e.r. ok. hey, look who's back. hello. is she awake? is that aaron? are you aaron? yeah. kate, we made it. thank you. don't thank me. thank your partner. he did it all. [siren] hotch: what's this? secret service. we're directing all emergencies over to lenox hill. i'm ssa hotchner. i have ssa joyner on board. she was injured in the bomb blast at federal plaza. credentials.

. >>> there may be no sleep as villanova and temple play their game at barclays center tomorrow. our john clark has more from long island. >> reporter: villanova is here at the barclays center preparing for unc ashville. this nova team, they hear the noise. they can't make it out of the first weekend over the last couple of years. the seniors now this is their last shot. >> what is the question you get asked? >> that's the biggest question they ask. >> how are you coming up with an answer? >> saying that's in the past. totally different team. >> over in temple's locker room, their shirt says it all. play for more. and temple coaches checking it out. they notice that iowa is more experienced that the owls. this is iowa's third straight year in the tournament. for temple, only jalen bond has played minutes in the tournament game. the owls are excited to be here. >> it's a dream come true. you watch it from the age of 6 years old to now, it's surreal. >> knowing that each game could by b my last game, i want to leave everything on the practice court and in the games. >> fran dum fre

barclay won't be able to leave the pouch for six months. by that time she should be able to join the zoo. other kangaroos are also there in the pen to all be together. doesn't it get big. >> it does get bigger after awhile. >> might get heavy. >> interesting. she says that every day is something different and she's getting personality. it's really fun. it's a really cool experience. interesting. they say they get personality as little babies but a kangaroo, interesting. >> i love the notes from brian probably saying that the staff are hoping for a hoppy ending. > nice that's definitely a brian note. >> get it, hoppy ending. > not me. i don't know. >> that had you all -- that was your sort of genius. >> jack. >> sorry. sorry, jack. >> we're all fun. we're all really fun. >> yeah. hoppy ending. > coming up. >> because it's a kangaroo they hop. >> i get it. >> we're going to move on from this one. i thi a rare look at life board an aircraftan exclusive look. >> and also ahead, this happened. our look at unbelievable headlines including has aff

barclays says there's no short of buyers for its stake in the africa unit. credit ratings were downgraded once it became known once it became known barclays was looking to sell. we had a higher rating than all the other bankers but we do not rate money overseas. in the local market, that was discounted. mark: tomorrow, we will hear from the barclays chief executive. that the latest business flash. vonnie: prosecutors in the u.s. are looking into a art scandal involving europe involving billions of dollars in dealers -- billions of dollars between a dealer and art collector. let's bring in our financial crimes reporter for bloomberg news. this is a major scandal in u.s. prosecutors are looking into it. tell us who this is. a well-known art dealer and has become significantly more well-known over the last year. they have been allegations levied against him in monaco as well as france by some of his clients, particularly one of his clients who is a russian billionaire, that he was possibly misrepresenting the price of paintings bought and sold as an intermediar

nejra: we will be speaking live to barclays ceo here on bloomberg. that is your bloomberg business/. thanks very much. let us turn our attention to china, consumer prices rose last month since the first time in 2014. the biggest rise in inflation pushas the lunar new year food prices higher, as non-food prices remain tepid. n joins us. good to see you. is this increase in cbi sustainable? with a lot of data in february, there is a one-off factor. enda: good morning. indeed, all about the chinese new year. as the consumers rush to get the pork and vegetables in time for the celebration. there is also quite a cold snap in january during that time. all told, will have to look at the number. it is a typical effect we see every year around the chinese new year. china is struggling with the same kind of low inflation problem and the rest of the world is struggling with. low oil prices. the problem of week demand. maybe there are some elements of silver lining on the side of things, showing the deflation there is maybe flatlining. that is one thing to take

an analyst at barclays spoke about earlier.s are definitely surging, as you have seen, but we have not seen any fundamental data that justifies the price levels. what i mean by that is during the month of february, the entire country of china goes on holiday. during that month, we don't get a lot of data coming out of the country. monitor china daily, and i get to see evidence that we have seen a hard turn to justify the high prices. >> what about all of things announced at the annual meetings, that they will take ,easures to make supply go down will close factories, and will support the economy to move it more to a service economy? >> it is good you highlight that. this weekend, there was a meeting of the chinese congress where they announce their various reforms. when it comes to politics in china, you have to separate rhetoric from reality. definitely a lot of bullish sounding rhetoric out there, financing of loans, infrastructure plans announced. but when it comes to reality, that is where we are more skeptical. ultimately,

barclays says it will sell its african subsidiary and cut its dividends in half. they standby the difficult decision to close the uk banks non non-core business and wants the company to move forward. >> we need to get restructuring behind us and focus on the core franchise of barclays. it has investment banking business. >> shares fell nearly 6%. dollar tree said sales rose in its fourth quarter. that wasn't good enough to meet analysts targets. they missed on earnings citing impacts from the strong dollar. the company sees earnings missing estimates and says it expects same store sales to stay in the low single digits. >>> the luxury retailer kate spade saw revenue rise but despite beating competitors they missed estimates. they were up 11% to $21.99. yahoo's annual 10k filing shows the tech giant might need to write down tumblr. it's the blogging company it purchased for $2 million. last month yahoo said it was writing off $230 million of tumblr's value. yahoo shares rose 3% to 32.80. >>> shares of tesla went the other way. they fell. citron research said it was

. >> we are not going to wish, we are going to execute here at barclays.entally believe that if we are going to rely on the global capital markets, which is pension fund i don't , believe the world will feel safe if we rely on a world where the intermediaries, the investment banks, cannot raise capital cannot earn a fair , return to their shareholders. it is not a stable platform. for the world economy. >> how long before a course corrects, what is the catalyst? >> i think it is happening now. >> do you? >> of course. all of the banks are looking at how to manage these balance sheets with far less risk on them in a way to deliver to clients, but in a way that delivers profitability to our shareholders. >> here is the third argument, the culture simply cannot be fixed. your bank has played #20 billion in fines. a lot of that started here at the investment bank. >> i have said this before, i do believe that wall street lost its ways in the late 1990's. i do believe money became too much of a motivational factor. i think banking has got to reverse back to the

as you noted, we own 62.3% of barclays asset shares.s howr hand, as regular thing, we own 100% in terms of the liability. look at the capital charges we have come of funding charges, etc. it is very hard to own a 62% of a business where you have 100% of reliabilities. >> glencore ceo ivan glaeser nberg saying prices have bought in. why does he think the bottoming out is happening? why does he think it will get better from here? we saw the empty stocking. they could feel metal prices going down. no one wants to hold metal as they are then going into d asucts, so they destocke fast as they can. when that cycle ends, and we think it is ending now, pricing starts to list. we have seen evidence of restocking in china, maybe not as as as as happened in asked cycles, but it is still happening from what we can see. guy: how much more juice is there in the tank do you think on the upside? sell a bullay never market. it is easy to sell too early. erg's resultsasenb today, glencore has done really well. it has managed the down for and really wealt

jonathan: mizuho, barclays, the latest analysts to cut barclays. a difficult company to cover and give any kind of rate into at this point. drew: just a stampede for the exit. they have been running for lower price targets at this point. david: as of this morning, 23% of analysts still have a buy on the thing. drew: the stock is so low at this point people are wondering if it cannot only go up but it was down in premarket trading again this morning. this rush to finally put so ratings on to reflect what happened in the shares in the last six months. david: when will we have an announcement? drew: if i had to take a guess manon :00 seems a nice round time. we really do not know yet -- 9:00 seems like a nice round time. we do not know yet. jonathan: drew armstrong. thank you great much. we will watch this throughout the program ahead of the open, about 34 minutes away. wall street's pile of unwanted treasuries exposes possible cracks in the market maybe. that is next. ♪ david: u.s. futures, little change. volatility across global markets falls to a t

number five this morning from barclays on commodities. it down much better than i ever could so i will not do it again, but fundamentals of not changed enough to justify the price increase that we have seen and we are set for another rollover. my question to you would be if i were to restrict your access to the bloomberg, for one security, trade, commodity, one thing, it is the most important variable to you? >> it is. one because we have a significant exposure to oil, but oil is either a driver or a barometer. you -- when i tell you what happens to the oil price, you could get an idea of what happened to the chinese stock market, ethics and how new york will open. hopefully give you a nice forecast on treasuries, too. steve: commodities will grow over or not again, i am a smart enough to know. it is a very hard market to predict. i think 98% of them would have been completely wrong. oil is the only pay the most attention to, and there is no question that the lower oil price, the longer they stay there, the higher they are going. there is

that is from barclays. investors rush for the exit.s going to be interesting to keep this one around. you are right and you got your timing right, you have made a ton of money. you look at some of the ,aluation stories on oil stocks i think they are more stretched than they have ever been. simon: in the oil space, the problem is the american shale guys come in [indiscernible] it is not too far off the new marginal low production rates. is they aremic backed by debt. you have to keep paying your bonds -- you have to keep in your bonds. that has a different dynamic given that supply can come more quickly and suppress that price. hans: when you look across the globe, how we understand the differentiate -- and differentiate between the emerging markets. what you see potential value guy: -- where do you see potential value? simon: it is more in depth than that. it is at a company level, rather than country by country. the external managers we use, for example for more opportunities in india than base, and that is in the hardware/software, n

barclays and then to prudent shl? >> yes. >> these are fabulous rescue dogs. >> this is jackson. >> he's going for the drones. we are ready, what do you have. >> ladies and gentlemen, and children of all ages, from the big top, annamaria. >> come here. >> come here. good boy. rosanna: that's fun. >> now for the grand finale. good boy. easy. good boy. jackson. up, up. jackson up. come on. jackson up. you can do it. hold it. hold it. that's great. all weekend long at barclays sentser. >> this is the best dog in the world. rosanna: how do you reward them? >> they are getting little treats here. >> he's been eating muffins in the green room. he likes the blueberry kind. >> greg: now he's acting like a dog. we love the circus. good luck. ooze ooze tickets are available? >> absolutely. >> thank you. >> thank you. the with the help of comfort keepers, i'm keeping my mom healthy! i'm keeping dad on schedule. i'm keeping my mom happy! comfort keepers in-home professional caregivers can provide meal planning and preparation, he

. >> we are going to execute here at barclays to get there.mentally believe that if we are going to rely on the capital- e markets -- markets, i don't believe the world will feel safe if we rely on a world where the investment capital,not raise cannot earn a fair return to their shareholders. it is not a stable platform. >> how long before a course corrects, what is the catalyst? >> i think it is happening now. all of the banks are looking at how to manage these balance sheets with far less risk on them, but in a way that delivers profitability to our shareholders. the third argument, the culture simply cannot be fixed. paying $20 billion in fines. a lot of that started here at the investment bank. >> i do believe wall street lost its way in the late 1990's. i do believe money became too much of a motivational factor. banking has to reverse back to the time when it was a profession, when being a practitioner in the profession of finance was like being a lawyer or doctor. we have a lot to atone for, we made a lot of mistakes, but no doubt, the

fire which brought dozens of fire fighters to the scene, started at just after 1:00 on fifth and barclaychester. authorities say that the building which was divided in to multiple apartments was not fully occupied. the victim's condition is not yet men this morning and the cause of the fire remains under investigation. >>> a shooting at a local high school is under investigation this morning. it happened last night at archbishop ryan on academy road in northeast philadelphia. police a say a male juvenile was shot in the thigh and then taken to torresdale hospital. he is in stable condition this morning. the shooting took place in a field behind the school near the woods, and it is unclear this morning if the victim a tend archbishop ryan. no arrests have been made. >>> a two car accident send six people to the hospital, it happened on blackwood clementon road, in lindenwald yesterday afternoon. the road as you can see was blocked as authority investigated. two people were air lifted and four taken in ambulancing. >>> more than a dozen pets are seized after nearly 20 pets are seized from

brought dozens of fire fighters to the the scene started just after 1:00 this morning, on fifth and barclay in chester. authorities say the building which was divided in to multiple apartments was not fully occupied. victim's condition is not yet known this morning, and the cause of the fire remains under investigation. >>> a shooting at a local high school is under investigation this morning. it happened last night at archbishop ryan on academy road in northeast philadelphia. police say a male juvenile was shot the in the thigh and taken to torresdale hospital. he is in stable condition, this morning. the shooting took place in a field behind the school near the wood. the it is unclear, however if the victim attend archbishop ryan an no arrests have been made. >>> a two car accident send six people to the hospital, it happened on blackwood clementon road and lindenwald yesterday afternoon. the road was blocked as authorities investigated, two people were taken to or air lifted and four people were taken in the ambulances. >>> nearly 20 pets are seized from a northeast philadelphia a home a

alarm fire which brought dozens of fire fighters to the scene started just after 1:00 on fifth and barclay in chester. authorities say that the building which was turned into multiple apartments was in the fully occupied. victim's condition is in the yet known. the the cause of the fire remains under investigation. >>> a shooting at a local high school was under investigation this morning. it happened last night at archbishop ryan on academy road in northeast philadelphia police say a male juvenile was shot in the thigh and taken to torresdale hospital. he is in stable condition this morning. shooting took place in the field just behind the school near the wood, and in the exactly clear if the victim attend archbishop ryan, no arrests have been made. >>> two car accident send six people to the hospital, and it happened on blackwood clementon road in lindenwald yesterday afternoon. the road was blocked as authority investigated. two people were air lifted and four were taken in ambulances. >>> nearly 20 pets are seized from a northeast philadelphia home after a authorities say they were liv

economist for barclays. his payroll prediction 25,000 jobs. before we talk more about the labor report, i want to ask you about that we are seen in fine shall -- financial conditions and get your nse of what that has meant to the economy over the past several months. >> certainly it has meant caution on the part of policymakers. a lot of this is affecting global markets. it is making the fed cautious. this is what chair yellen referred to in the federal and chair yellen is referring to as well. the volatility widens out spreads. thise past and has caused to increase. has also been volatile. the fed has to look at that to see if we want to add further tightening on top of that. it makes inc. cautious. the financial stress has to settle down before they can become comfortable with moving again. things cautious. david: how do you read that provision upward from? >> the february data surprised of it to the upside. the january data was revised significantly lower. we had a pretty good preview earlier in the month. we read it in two ways. , unnumber

i'm looking at what barclays is saying, when on the barclays called, kevin is at the desk and is saying copper and oil could slump. copper could drop to $4000 an ounce. this is the key concern he has. that the fundamentals don't support the rally that we have seen in metals and oil. we could see oil head down to the $30 area once again. clearly uncertainty in the market when it comes to analyst perspective. this is what i wanted to show. we have been focused on the bank of england. the committee came out and gave us what they have been chatting about. there are warning bells around brexit. get this. this is volatility in the pound. implied volatility. 15 and it is ato key concern surrounding brexit and that has been hitting some of the banks. betty: certainly some warning bgns for any holes -- any ulls. matt miller has more from the news desk. matt: the hijacking situation at the cyprus airport is over and the suspected hijacker is under arrest. seven people were left on the airplane but they left safely. the hijacker climbed out of the cockpit window. it was supposed to fly from alexan

head of commodities research at barclays with us. mentioned the summer driving season.you're in a tesla, that is not going to help to boost oil demand. these are tesla shares today. what has happened to bring them down by 4%? citroen research has tweeted out that it is short tesla am a 48% downside by year-end. one of the reasons is the short interest rate. you can get that on your bloomberg with any stock. short interest is currently 32.5%. belichick and make these more visible -- i wish i could make these more visible. previously it has been more like 25%. that is one of the reasons that citroen says there are a number of news items coming out with supply and demand issues. news flow does not look at around the stock. citroen has historically had a pretty good price action when it puts out a report. >> much more on the markets and the rally ahead. ♪ matt: fbi director james comey taking questions i can. appleounsel for comes, we will bring that to you live. frontrunners hillary clinton and onald trump are trading fire a date when 13 states are holding nominating conte

vonnie: we will speak with a barclays emison -- analyst about iron ore in a few minutes but let's getthe first word news. : angela merkel says talks will be tough but she is hoping for a sustainable solution on turkey on the european refugee crisis. she and other european union leaders are holding an emergency summit in brussels today and there want to stop refugees from entering europe. in u.s. politics, the democratic presidential candidates face-off last night in a debate in flint, michigan. hillary clinton attacked bernie sanders. over the government's rescue of automakers. >> he was against the automobile bailout. in january of 2009, i voted to save the auto industry. thatted against the money ended up saving the auto industry. courtney bernie sanders accused hillary clinton of voting for certain disasters for the american people. nancy reagan is being remembered. she died yesterday. she sometimes organized president reagan schedule in the white house aced on astrological readers and campaigned against illegal drug use and later became an advocate for stem cell research. she was