barclays fights back.tish bank refuses to accept the doj's offer and takes its chances in court. will the new trump administration take a more sympathetic stance? bailouts in italy. the country confirms a 20 billion euro cash lifeline for banks monte dei paschi will be the first to use it. who will claim the lifeline next? guy? a look at take markets and see where they are going. banks firmly in focus as we move towards the open. we will see where we go. -- up. 7065, let's see how barclays is trading. details in a moment. deutsche going to be front and center as well. banks gaining, no names yet on my list. we will come back and show you those numbers in a moment. manus? is going to be about the banks. french gdp, german consumer confidence, refineries for the third quarter in the gdp. but, betting on three months forward on where will fall go in q4. that has not collapsed by the same aggression you have seen in the cash market. 5% versus the cash market dropping by 31%. volumes today are probably going to

barclays rejects the complaints made in the claim and barclays said this is the important line. what they are going to have to deal with this morning. he complaint seeks unspecified monetary payment. barclays will vigorously defend the complaint. sally is standing by. full of christmas cheer i hear. sally: credit suisse agreed to pay $5.28 billion to resolve a u.s. probe into its mortgage-backed u.s. securities business. the bank said it will pay $2.48 billion with the remainder to consumer relief. the obama administration has been pressing to wrap up investigations of wall street firms that helped fuel the 2008 financial crisis. well, the u.s. justice department sued over its sale of mortgage bonds. they said they were deceived about the risk of securities. barclays said it will vigorously defend the complaints. volkswagen has agreed to service settlement terms with models built after 2009. it is part of a larger accord that will add about $1 billion to what the company agreed to pay regulators consumers and lawyers in the u.s. and canada. six months on from the e.u. referendum

barclays responding to the u.s.ustice department, which is suing the bank for deceiving investors who purchased mortgage-backed securities. they say they intend to seek dismissal of the doj claims. barclays intending to seek dismissal of the claims that the bank had deceived investors that purchase mortgage-backed securities in the wake of the financial crisis. we will monitor this as the afternoon goes on. joe: coming up, we will hear from a ceo as part of our interview with the chairman of jpmorgan. he will tell us why midsized banks -- companies are first skier after dolphins victory. -- donald trump's victory. ♪ ♪ joe: "what'd you miss?" our exclusive interview with brian moynihan from the boston office. david westin asked him about the u.s. economy, specifically if he has seen a difference in the economy with customers, rather than the rally based around hope. >> bank of america having a decent sized customer base and to seeing $50 billion spending growth every year and growing faster, over the latter half of t

. >>> barclays is biting back. the lender rejects a justice department complaint, suing the bank after it refuses to settle in its mis-selling case. >>> good morning, everybody. welcome. almost christmas. >> i know. hard to believe. >> you were up all night i heard. super noisy neighbors. >> party from the neighbors what can you do? do you go in at 2:00 in the morning? 3:00? >> always puts your life in perspective when you wake up and others are coming up. >> you've been up since 3:00. >> never mind. one more day to go, and everyone is excited. >> deutsche bank shares have hit the top of the stoxx 600. the german lender saying it reached this provisional $7.2 billion deal to resolve the department of justice investigation into itsishan iss and underwriting of deals. >> under the tentative agreement deutsche bank would make a 4.1 consumer relief payment and a $3.1 billion civil penalty. let's get out to anetta in frankfurt with all the details. investors like this settlement, why? >> they like that because the cash

over: barclays sued mortgage backed securities. a boost for the world's biggest listed copper miner. and seeing red. a special report from the city whose polluted air makes china good. yvonne: this is the second hour of "daybreak asia." after 7:00s just p.m. in new york. i am betty liu. as you have been mentioning, it seemed as if we were heading straight toward dow 20,000. with the markets having a bit of a change of heart. this rally isof going to last, particularly as the donald trump election becomes a reality. seene: it is a typical we volumes this thing. it kind of makes you wonder if we have topped out when it comes to the santa rally we have seen. let's see how things are kicking off with the opening in s eoul. david: not really expecting any big bets to come through. trading session in australia. in new zealand, new zealand shuts in about 30 minutes. australia has roughly four hours of trade. korea, flat. watching the currency closely. before i move away from the equity markets, we do have hong kong coming online, 90 minut

barclays narrowing its customers to focus on relationships. the firm readies to sell 7000 clients -- tell more clients to do more trading with the firm or take a hike. lagardehristine convicted of one count of negligence by a paris court. at the parisve courthouse over her handling of that dispute. one" led the domestic box office with $155 million at the box office. will the strategy of spinning new characters off of franchises continue into the new year? mark: have a look at where equities are trading. gmm go. look at the red. those countries are declining. starting down by -- sterling down by 0.75. yields falling in austria. commodities and equity futures are your final two columns. let's get to some of the big corporate stories of the day. bp cementing its relationship with abu dhabi by swapping $2.2 billion of its own shares in exchange for a stake of onshore oil concessions. it will use new ordinary shares to pay for 10% of the other dobby onshore company -- abu dhabi onshore company. this promises additional cash flow for bp and additio

barclays hangs tough in the doj takes it to court. italy is buying a bank moving forward to invest billions of euros. how much will it end up owning? what to the bondholders stand to lose? tweets that move markets, trump takes to twitter again to say he may switch from lockheed martin to boeing for more fighter planes to the military. is he shaping policy or merely shaping the story? that is what you need to know at this hour. jonathan: said to express openness below the china growth coming in right now. will express xi openness to china's growth below the 6.5% target. some people don't believe the 6.5% anyway. david: do you think he is something? -- signaling something? jonathan: perhaps. that's the headline out of china. growth below 6.5% to get you up to speed on the news as it develops. the banks are front and center. we want to bring in the global team now. covers abuses at the department of justice. ino joining us michael moore the u.k. on what it means for barclays and deutsche bank. the bloomberg managing editor for finance an

election, up more than barclays.e deutsche stock future the less any capital increase becomes. matt. matt: thank you very much for that. after years of spending reductions, project delays, job cuts, or the oil majors starting to see green shoots of growth in the industry? conditions may be beginning to turn around after nations decided to cut oil production together. we caught up with bob dudley, who laid out a cautious but determined path ahead. >> i think we are going to remain very disciplined about the b spend, the projects we select, but it is time for bp to start growing. we have worked through so many difficulties in the u.s. that i think the company is well positioned for growth. in tracy us bring alloway in abu dhabi who brought us that interview. so, tracy, first of all, what is his view on the market here? wti, $55 fore for brent? that must look good to him. tracy: sure. when i caught up with bob, he sounded very optimistic, which surprised me. he's talking about, now is the time for bp to grow. they are l

it almost bolsters barclays' argument.hey can go to the client and say we've put it all into our computer system and it is saying you don't make the threshold. mark: thanks for joining us. simon is still here. we end the year with all eyes on emily, on -- on italy, on monte dei paschi. will it push through this capital raising plan? are european banks in a better shape than they started the year? most of them got through the stress test. monte dei paschi was the worst graded by the ecb. where are we? simon: really good question. there's two answers. cyclically, they are in a decent position. you see eurozone growth starting to accelerate. we expect probably the imf will upgrade growth in the next estimate. the problem is structural. problemsthe structural we talk about the whole time, but it's the challenge potential he coming from the u.s. over the next couple years. if we see the u.s. administration start to deregulate, rollback dodd-frank, the volcker rule being spoken about, that firmly parks the tanks in terms of prof

we have been talking about barclays firing 7000 clients. ?are the ramifications if you have a small company coming along, you might miss google or a big company right now that is not doing much business with the bank. this is gut tells me going to be a public relations nightmare. , sorry, we0 clients do not want you anymore, we have like you in the past but we do not like you anymore? the business environment forces force you to become more profitable or get gone? that does not sound like a very banker friendly relationship. i would not want to be in barclays' position to do that right now. be concernedve to about the reserve requirements, the ratio, and it is getting to bank perspective not just in terms of the sg and a cost, but also in the reserves you have to hold. bill: it reflects the growing bank -- the growing relationship between the u.s. banks, which have been on a tear in the last five weeks in the equities markets. and the european banks, which are still struggling to deal with the new regulatory retirement requirements, the new c

mark: what does the barclays case tell us? it tells us it is willing to take its chances with incoming enforcement officials in the trump administration. it is quite rare for a bank not to settle and track the litigation process further. -- drag the litigation process further. started deutsche bank at $14 billion and came down to $7 billion. for the doj to take us to court shows both sides were not really budging. there was a significant gap in what barclays was willing to pay them with the doj thought when necessary -- would be necessary. mark: a big day for michael. michael more from bloomberg news. julie: as the trading week comes to an end and 2017 draws ever fkovitz willas talk about what is ahead for the year. that is ahead on bloomberg. ♪ ♪ julie: this is bloomberg markets. citigroup's chief equity strategist tobias levkovich boosted his s&p 500 target for next year. here is here to discuss his outlook. your new outlook now, 2425 for the end of 2017. it looks like it is based on the fact you think earnings are going to

it is now also suing barclays for alleged mortgage securities fraud.s about the quality of loans backing securities it sold in the run—up to the financial crisis. barclays rejected the claims, saying they were disconnected from the facts. planned strikes by british airways cabin crew on christmas day and boxing day have been suspended. employees were due to walk out in a row over pay and conditions. according to the unite trade union, 4,500 workers employed on so—called mixed fleet contracts, who have joined since 2010, are on lower pay than other staff. talks at britain's industrial conciliation service, acas, have led to a revised offer, which will be put to a ballot of union members. the airline says it welcomes the move. don't forget, you can get in touch with me and some of the team on twitter. i'm @bbcaaron. i will be back to have a look at the papers from around the world. people sleeping rough are 17 times more likely to be a victim of crime than members of the public. that is according to homeless charity crisis. they also found 80%% of homele

miagi hit him on the ankle witness hands. >> barclay is a heck of a football player. and can make things happen. when you add the fact of what they're doing, you know, the receivers and him running the ball or pushing down the field, our defense will be tested. >> oh yeah be sure to join us later tonight for the big 10 championship game featuring penn state/wisconsin. evenly matched team should be a fun game for sure. >>> all big 10 eyes on this pact championship game hoping for a washington slip up. instead they stepped on colora colorado. huskies up 14-seven. interception he take it to the house. washington wins 41-10. they cement their spot in the playoffs. >> sixers pack in act after water gate this wednesday night. they should have postponed this game as well. magic take advantage. augustine finds gordon for the three. good. pig game for joel embiid 25 and 10 but the sixers lose unfortunately 105-88. penn state football and of course temple tomorrow and that penn state game 8:00 p.m. tomorrow nightly, torque night. >> temple going for aac championship tomorrow. >

is suing barclays its sale of mortgage bonds.estors were deceived about the risk of securities. barclays rejects that notion, and says they will vigorously defend the complaint. global news 24 hours a day, powered by more than 2600 journalists and analysts in more i am120 countries, sebastian salek. this is bloomberg. tom: thanks so much. quickly to data --equities, bonds, currencies, commodities. the curve flattening this morning. euro-dollar, 1.0444. the vix, 11.42 with dollar strength over the last 40 minutes. i'm watching sterling, at 1.2 253, weaker over the week. guy: let's talk about the european equity market. -- banks kindpe of not going anywhere today. we will talk about barclays in a moment. it is weakening. we were watching the press conference in moscow. surrounding the security situation that we are monitoring very carefully, tom. tom: normalized year to date, here is the beginning of january of last year in the upper left corner. deutsche bank doing good, recovering nicely from the gloom of autumn. up,'s unicredit

. >>> we have breaking news on barclays. eamon javers with the news for us. >> something unusual here the department of justice saying it is suing barclays to recover civil penalties for fraud in the sale of residential mortgage backed securities. this dates back to the great recession that looked like settlement talks have broken down and now the department of justice is taking action. they say they are alleging that barclays engaged in fraudulent scheme supported by misrepresented mortgage loans. according to the press release the department of justice put out. unusual here they are naming two defendants by name. in the press release it says that these entities and these individuals quote fraudulently sold tens of billions of dollars and misled investors about the quality of the mortgages backing those deals. so this is an old story but a new action here being taken by the department of justice. >> thank you. >>> goldman sachs has been a big winner of the trump rally. the stock soared 32%. the wall street journ al reveald

suing barclays. wonder, though, yes, it is considered a much more favorable environment for banks, the trump administration. but this is still a european bank having to settle with the u.s. trump has talked about u.s. first. >> and these were americans adversely affected to a large degree by some of the alleged misdeeds from some of these mortgage situations. >> that's a to be continued on barclays. more news on italian banks and european banks. italy will be bailing out monte dei paschi after the country's third largest bank failed to raise enough capital on its own to stay afloat. the government passing a degree earlier this morning approving a 20 billion euro fund to prop up the banking sector with bmps the most vulnerable. monte dei paschi says it will apply to tap the fund. this is the bank's third bailout since 2011. shares suspended now on the milan stock exchange. the latest saga for the italian bank. it has come to represent the problems in italian banks. it's not a complete bailout. there w

. >> 40-year-old lee ware barclay had gone to a lorain avenue atm on the website early to get money for a registry. moments after a man demanded money at gunpoint, the father o five try to negotiate said that he has children and that it is christmas but the suspect then shot him in the chest, berkeley was able run away with the suspect shot him a second time in the back. the guy put the gun to his chest and do not talk to first and said give me your money aunts he said do you really want to do this, it is christmas and >> there was no negotiating there was just the shooting. family is thankful that the place are able to assist him quickly,

the justice department filed a complaint accusing barclays of dishonest practices.nvestors say they lost billions of dollars after the financial crisis. barclays denies the allegations. >>> aircraft manufacturer airbus is considering a future of windowless planes. the design would give airlines more flexibility with what they do with the aircraft. suggestions include sleeper seats, a coffee shop, a gym, or even a kids play zone. for now it's just an idea. airbus said the design would cut down on maintenance costs for their planes. >> i don't know abot that! i need to know where i am in the universe and i have to look out a window once in a while. >> i don't want another place that will make me feel guilty for not going to the gym! >> that is so true! hena daniels at the new york stock exchange, thanks a lot, hena. >>> still ahead. headphone hazards. the gadgets are popular but experts say it's time to turn down the volume. last week. just 1 pill each morning. 24 hours and zero heartburn, it's been the number 1 doctor recommended brand for 10 straight years, and it's

barclays said it rejects the claims made by.suits against apple for alleged patent infringement. they claim they violated 40 patents. —— filing lawsuits. there are concerns about profits. italy's the oldest bank will be bailed out by the government for a third time. they failed to raise more than $5 billion in fresh capital from private investors. it had tried to sell new shares and conduct bonds for equity swa p shares and conduct bonds for equity swap but the money is needed to get rid of its bad loans. more than 80 garment factories in bangladesh have shut down due to strikes. the workers have been demanding a three fold hike in wages but the owners have rejected the demand. bangladesh isa have rejected the demand. bangladesh is a major exporter of clothing but the industry is often criticised by human rights groups for low wages and unsafe conditions. we report from bangladesh. garment factory workers in bangladesh are now getting $71 per month as their minimum salary, which was fixed three years ago. now they're demanding $

>> barclays would have to make a case.en it's based on all these issues around the financial crisis. it's a very hot issue, and not something particularly. i don't know if this would be a jury trial, if they had a trial in this. juries don't typically like these mortgage cases and they are typically kind to the banks. that will not be the case here. -- here, necessarily. barclays would have to argue that they are not responsible for this amount of damage and that the fines are onerous for what happened, what the result of that was. scarlet: what natural deadline is built in here? we will have a change of government in the united states come january 20. there is also the statute of limitations to be aware of when it comes to these issues. >> usually when you file something in court, that can mitigate the statute of limitations issues. you also have a tooling agreement, and those are put in place for a purpose so that does not run out. and out moved to court of negotiation, the change in administration probably matters less,

barclays narrowing its customers to focus on relationships.readies to sell 7000 clients -- tell more clients to do more trading with the firm or take a hike. lagardehristine convicted of one count of negligence by a paris court. at the parisve courthouse over her handling of that dispute. one" led the domestic box office with $155 million at the box office. will the strategy of spinning

barclays, j.p. morgan and citigroup are cooperating to provide evidence of conspiracy.nks will be fined than federal guidelines at the sentencing hearing this week. manus: focusing on donald trump's cabinet picks. he has appointed reqs tillerson as secretary of state. hasman sachs gary cohen been confirmed as chief economic policy adviser. tweeting took aim at the pentagon most expensive weapons system. saying the f-35 program is out of control. you can look at the stock price to see the power of one tweet. anna: let us get the details on where the market is going. rally we saw the u.s. lose some steam yesterday with the s&p 500 being knocked him its record high. a mixed picture in the asian session. the msci asia-pacific pacific index eking out some modest gains but chinese stocks extending their worst losses in six months. despite the better than expected industrial output and retail space data. investors are focusing on the impact of the pboc's monetary tightening. this is the shanghai composite giving below the 55 day moving average. a technical charts here for you

offensive player of the year in barclay.dding defenses as of late in trace mcsorely. but even after all of that penn state was still underdog which tells us how tough an and badges really were. to indy we go. wisconsin up 14. 7-yard touchdown run for the badgers. they're up 28-seven. but don't panic everything is going to be all right. [ laughter ] >> all right. fourth quarter penn state down three but trace mc corely finds barclay in the corner of the end zone. penn state takes four-point le lead. next possession wisconsin driving fourth and one and the penn state defense they step up and stop wisconsin at the line. penn state takes over on downs. nittany lions go on to win 38-31. head coach james franklin, do you think your team deserves a shot at the college playoffs? >> what i do know is we just won the toughest conference in college football. [ cheers and applause ] >> we've won nine straight. they say you're allowed to overcome early set backs. we've done that. it's on you now, the committee. >> yeah, james franklin go

miagi hit him on the ankle with the hands. >> barclay is a heck of a football player.ake things happen and then i think when you add the fact of what they're doing, you know, and the receivers and him running the ball or pushing down the field, our defense will be tested. >> ♪ >> be sure to join us tomorrow night for the big 10 championship game it happening right here on fox 29 8:00 p.m. wisconsin and penn state and what should be an amazing game. >>> looking forward to it, guys. can't wait. penn state rolling, killing it these past few weeks much big one tomorrow night. >> you never thought in the beginning of the year they'd be in the position to play for big 10 championship. >> if they win, who notice. >> penn state! >> scott here to tell us what the weekend outlook will be like. >> it will be a cold one for tonight. temperatures dipping into the 30s across the area upper 30s philadelphia. mid 30s in pottstown. low by saturday morning 36 degrees in atlantic city. and what about 36 also in wilmington. so today's high temperature in philadelphia made it up to 51 degr

credit suisse also announced a similar deal, while barclays is now under investigation aswell. is nowhis in a moment some positive news for the uk economy. the latest revised figures show that it grew by more than previously thought between october and december this year thanks to more output from business financial services. the consumer group which has begun legal action to strengthen protection for the owners of tumble dryers that pose a fire risk. 5 million affected machines were sold between 200a and 2015. the manufacturer, whirlpool, is carrying out a repair programme. the sale of residential mortgage—backed financial products played a significant role in the 2008 financial crisis. several banks in the us have been subject to investigations over allegations of giving mortgages to unqualified borrowers, then repackaging those loans as safe investments and selling the risk on to others. the inquiries related to deals done between 2005 and 2007. deutche bank will now have to fork out £5.9 billion. justin urquhat stewart is from seven investment management. a lot less than originall

we have an exclusive interview with the former barclays ceo, and peter smith around 9:40.urchase central and european assets from sabmiller. the agreement covers businesses in poland, the czech republic, slovakia, and romania. the deal is expected to close in the first half of next year. guy: so, president-elect donald trump's victory has thrown nato period ofiggest self reflection in decades. a surge of populism in europe, something to think about. as the u.s. turns inwards, will germany need to fill that role as leader of the western world? still with us, peer steinbrueck. what role will germany play on the international stage during the trump presidency? >> whenever i talk to people in our neighboring countries, they mostly expect the leadership of germany. they have often been confronted by this question. the economic welfare in europe. on the other side, whenever i talk to the people in these countries, they have a very good memory of what happened in the first half of the 20th century. they are very reluctant talking about the german leadership. there is a difference

the justice department filed a complaint accusing barclays of dishonest practices. investors lost billions of dollars after the country's financial crisis. barclays denies the allegations. >>> you may not want to be so quick to buy a new macbook pro this holiday season. for the first time of, consumer reports is not recommending that consumers buy it. apple claims the new macbook pro will garner about 10 hours of use between charges. during testing, however, the battery life was found to be completely inconsistent, so much so that they are coming up with an average is meaningless according to consumer reports. >>> aircraft manufacturer airbus is considering a future of windowless planes. the design would give airlines more flexibility with what they can do with the aircraft. suggestions include a sleeper seats, a coffee shop, gym, or a kids playzone. for now, just an idea. airbus said the design will cut down on maintenance costs for their planes. >>> so hena, starbucks is spreading cheer, as well? >> reporter: and attempting to get a little more holiday profits. th

is suing barc barclays.represented quality of mortgageback securities that were sold to investors to the years that lead up to the financial crisis. investors lost billions of dollars as a result. now barclays says it rejects the claim. looking at the share price now, they are you positive a little bit in premarket, down a little bit in the premarket. they are about 1096 this morning. shares are 14% to the downside this year. >> italy's government has created a nearly 21 billion-dollar fund to help troubled banks and the struggling banks, well, wasting to time there. the government coming to the rescue there just after the tuscan bank said it fail today raise enough money from private investors in order to stay afloat. third largest lender, trading in the bank shares in europe actually have been suspended for the entire day. lauren: lots of news in europe. just to recap the big news of the day, europe's most wanted man, this happened in italy just a few hours ago, the main suspect in monday's truck attack in

barclays is being sued for fraud. italy is rescuing. columnist whoour writes about the banking center. also is the visiting professor of the london school of economics. he used to be the director general at the italian treasury. thishave put away liquidity injection and capital injection. is it enough? is 20 billion euros enough to cure the balance sheet elements of the italian taking industry? >> i think it's certainly a very large amount area i think it could be enough. thedon't have to clean up banking sector in italy. you need to fix the process and facilitate a speed up in reduction. this is what is the aim of this package. mark: how long does this process start. at bringing down these nonperforming loans. take?ng is it going to when will we say the italian banking industry is truly on the road to fixing itself, which this economy really needs. issue was the package approved last night. it's a good chance to see this situation for the time being. then you move to other banks are in other banks have problems at the moment. i don't t

meanwhile, the justice weretment suing barclays allegedly deceiving investors who bought mortgage-backed andrities between 2005 2007. it alleges the bank repeatedly deceived investors about the quality of the loans. 's offer of aid to the --est bank monte dei paschi the bank has confirmed it will continue to seek assistance after a failed bailout. global news 24 hours a day powered by the more than 2600 120nalists in more than countries. this is bloomberg. let's get a check of the markets for you. before the long christmas weekend holiday, here is how we are trading in the morning session -- we are seeing this across the board, asia-pacific shares down the last day before christmas. this is bloomberg. ♪ >> welcome to the best of bloomberg markets middle east. the world bank approved a new loan to egypt worth $1 billion. it will help create thousands of new jobs. we spoke to an investment manager about the implications for markets. that is coming up. havehree qatari banks announced they are in initial talks for a merger. and president putin called for a crackdown after the russian ambassa

we talk about bitcoin, cyber security, and disrupting the banks with the former barclays ceo and the block chain cofounder, later in the show. gett things first -- let's to the data check. we have a special guest from asia. this is the picture of these markets. breaking news out of the iea, saying the opec deal will create on oil supply deficit in the first half of the year. we will monitor that. i wish i had the picture for oil, but overall stocks unchanged. unicredit gaining 4.2%. there you go. this is the picture for oil, gaining 3.2%. 55 point $67. first, let's get to the news with nejra cehic. plans to raiset $13 billion in an offer to sell off bad loans and slash costs. italy's biggest bank is targeting 4.7 billion euros net profit in 2019. as part of the strategy, it plans to shed 6500 jobs, bringing the total to 14,000. president-elect donald trump will announce today that he plans to nominate exxon mobil ceo rex tillerson as secretary of state, according to a person familiar with the decision. if confirmed by the senate, it would hand the job of top diplomat to a man whose t

some impactu do see from changing the strategy and geographies as barclays has done.n the other hand, they stuck with the investment bank and wants to be a transatlantic consumer and corporate and investment bank was that of the markets keep going positively as they have done that could be a nice cushion a nice uplift for the bank that has nothing to do with cutting client lists but everything to do with confidence in the market and from client in general. scarlet: my next question is why now? why are the going about this now eight years after the financial in in only have a sea change macro condition with inflationary change gaining momentum. the fed is seeking normalization and a return to volatility as well. lionel: it is a reflection to the way that banks have to walk the walk as well as talk the talk. there's been a lot of talk over the past five years that banks need to cut costs on their businesses. we haven't seen that much action. i think it is a good thing to hear this kind of noise even with the markets getting better. you really can't be seen to be just co

black power and civil rights leaders took advantage of barclays program as of being a witch to entertheir position. one does get a subtle sense of black raqqa most supposed to buckley felt there using program to air ideas in full. away the soundbite culture that pervaded the rest of the media. elsewhere the comets would be edited. on "firing line" that to put up with a right-wing white guy asking hostile questions. but they could express full-blown anti-established and marxist arguments that usually saw the light of day in undergrad newspapers and newsletters crake up by hand on mimeograph machines. given this context, they avoided. there was more than self-restraint. the producer, and large man with a perpetually untucked shirt gave red flag to guess stern lecture before appear on the show. blue language was strictly off-limits. he earned allen ginsberg by for bidding dirty work that ginsberg complained he would have to censor his thought patterns. there was extra concerned about eldridge cleaver and buckley made upon the following election by suggesting to cleaver before the start

barclays family new york. lockheed martin fell following a tweet from donald trump. costs andtremendous overruns of the f-35. i've asked boeing to price out a comparable super hornet. earlier, boeing said the cost of a new air force one could fall after trump criticized its price tag. dayal news 24 hours a powered by more than 2600 journalists and analysts in more than 120 countries. let's look at the markets. afternoon trading just underway in hong kong. asian stocks follow the u.s. lower. this is bloomberg. caroline: i'm caroline hyde. this is bloomberg technology. alibaba's credibility crisis, the sequel. jamie dimon opens up. the ceo speaks exclusively to bloomberg and discusses dealing with disruption. and after another lackluster year on the tech ipo red carpet, a star-studded lineup. but first to our lead. a fair punishment or political power play? alibaba is named on a u.s. blacklist for featuring confi counterfeit goods on its site. back forassing step the company. shares slid in thursday trading, with analysts suggesting the move was politically motivated,

we speak with the barclays capital in u.s. equity strategies about his 2017 outlook.closes its advisories fund after he lost 24% in 2016. state ofook at the private equity and hedge funds. we hear from el universities stephen roach on the state of the american consumer and how the chinese view the trumpet ministration. just returned from a trip to china. abigail doolittle joins us to look at the markets. looking at are modest declines for the dow, s&p 500, and nasdaq trade close to record, but no record so far today. the big story over the last few days has been whether or not the dow can hit that psychologically. this is an intraday chart. the dow came very cle

ceo summit we have exclusive interviews coming up including with fleming, valiant ceo and former barclays ceo bob diamond. >> let's get right to the market. joining our "closing bell" exchange today we have joe drant from united capital. our own rick santelli as he is here. he at the cme. jonathan, i get to you first. we get closer and then we back off. why? >> i think everyone was clearly waiting for the fed yesterday. i think the euphoria might be pulling out right now. no real conviction to get into the market. no real conviction to stay in the market. we have seen it gradually move higher and higher. i know the 20,000 number is a psychological number. we have to disconnect ourselves a little bit from that. we have to look at where the market has been and if we are going to get the santa claus rally. >> and some big moves in the currency market. what are you thinking in terms of strength of the dollar? >> absolutely. that is one thing that the markets have right now with conviction is to buy dollars. the fed was more hawkishly expected. the markets believing them. we ended with a hike.

we have some insight from the chief china economist at barclays -- take a listen what she had to say earlier. >> i think the economy does see some headwinds down the road. number one, i think we have certain trade policies coming then there isd that china has been tightening on the housing market, which could lead to a key downside risk in 2017. >> jian chang, from barclays. policymakers have been quietly rating in fundamental liquidity in the money market to rein in this credit. we have heard from bloomberg intelligence -- they say this economic data we have had gives policymakers continued space to do more of the, that the space is closing. there was a sweet spot, but for how long is the question. tracy: ok. our china correspondent, tom mackenzie, live in beijing. later in the show, the middle east is a magnet for some of the world's costliest cyber attacks. we take a look at what is being done about it. angie: coming up next, we gauge the state of dubai's economy with the emirates. all of that still to come. this is bloomberg. ♪ angie: this is bloomberg markets middle east, live o

we also have an upgrade over at barclays for jpmorgan -- excuse me, that is raymond james to outperformk of america with a analyst there, michael rose saying he sees bank of america as a proxy for the economy and sees "better days ahead o under the trump administration." jpmorgan hitting another record high today. another sector moving in part on the fed decision, airline stocks. lots of green. heart of this is the fact that rates moving higher have also taken the dollar higher, and that is pushing oil lower, but , theyalso have barclays have initiated. the stocks, including jetblue, united and southwest airlines with positive ratings. fall delta's ceo did say -- while delta ceo said they are seeing a postelection rally in bookings and raise their next quarter view or look at revenues. mark: thanks. still ahead, look at the business men in trump's cabinet. we will talk about how one businessman is valuing business of the government experience. we will hear his advice. president-elect been nominated montana governor a retired navy starshow won two bronze in combat. this is bloomberg. ♪ i

. >> penn state rung back barclay will play despite leaving last week with an >> carson wentz could be shart handed once again. jordan matthews misses practice today. he's questionable for sunday. eagle coach doug pederson is not giving a concrete yes or not after benching the receiver monday night. >> his mind has been good. he's working hard. right now, nothing says not keeping him up, keeping out. >> football playoffs, archbishop wood fans cheering all night long at academy park. archbishop wins 37-0. they advanced. local teams fighting for state title. >> all right, jeff. "jimmy kimmel live" next. followed by "nightline." chloey kardashian and music from kings of leon. for cecily tynan, ducis rogers and the entire "action news" team, i'm jim. ♪ ♪ ♪ ♪ ♪ >>> time for great viral videos "right this minute." an outdoorsman has a crazy idea. >> free an elk from some barbed wire. >> hair raising scene leading to a rescue. >> elmer fudd moment. >> why do a mannequin challenge when you can -- >> add a bit of magic. >> good luck figuring out how they did this one. after a motorcyclist is cu

government is suing barclays over the fact there's no settlement there.ording to to reports barclays is hoping the next administration might be friendlier when it comes to making this sort of deal. >> or that they simply have a chance to fight back. in other words for a lot of people there is this pressure to just resolve it. they'll say, all right, as long as capital can handle it, et cetera, but in this case where they're taking a stand, whether to prepare time to respond or feel like they'll get a better shot, maybe you're right, new administration or just in general to have the opportunity to try to do something about it instead of just handing -- >> yeah, it will be interesting how the jeff sessions justice department takes on these sort of cases in general. this is an administration that is considered much friendlier to the banking industry. but this is a foreign bank, right? >> i mean, it's not like donald trump ran on a campaign of, you know, we all love the big banks and i'm going -- >> no, but he's filling his cabinet with a lot of wall streeter

. >> caller: just purchased bcs barclays. just wanted your thoughts. >> well, i've been saying that barclays was good. lloyds was okay. stay away from royal bank of scotland. i think the brexit economy, a little overdone on the negatives. i think the british economy, very strong. i like your choice. i think it's a good one. there are two markets to watch today. while it may be time to sell some of the overbought banks and industrials while buying some beaten up tech. don't get too smug. the trump rally optimism is real, and there could be better growth down the road. that's what this is about. on "mad money" tonight, prospect of rising rates, bond equivalent stocks getting hammered but are there still options to invest here? i'm revealing one play you haven't thought of. then my thesis on two of the most talked about companies in this market, caterpillar on the upside and nvidia on the down side. plus a medical company thaton a brush with the bears now. i'll get the scoop. stick with cramer. >> announcer: don't miss a second

barclays ended up getting sued by the u.s. government in a very surprising development instead of settling. about how someone who used to work for jpmorgan is taking on a fight that even jamie dimon wasn't willing to take with the justice department. aey may believe they have better chance with the changing administration to prevail in that fight. bank of america was successful. we will see how that plays out. deutsche bank and credit suisse settled the capital hit they are taking as a result. it seems to be manageable. we have news that capital requirements from the ecb have been cut to 9.5% from what it was this year and that is a trend happening across all the banks in europe except the ecb is lowering how much capital they need. doj: why did the geode -- come to these banks with this number? barclaysher than what really wanted. why can the doj do that when banks in the u.s. had more bad loans and didn't get hit? there are reports that in all of these negotiations there were offers and counter offers. these settlements are

i wonder what happens with barclays. they are kind of the one who hasn't -- >> the one who said they are going to fight this. they ultimately were in negotiations for a settlement, maybe a similar deal to what we are seeing here. the department of justice sued them yesterday and barclays came out with a statement saying they are going to fight. they don't think the lawsuit has any merit at all. that will play out over several months. it will be donald trump's department of justice appointees who will be making decisions on how to finalize that case, as well. maybe barclays is betting on the trump administration having a slightly different view than the obama administration is having. >> and then the deutsche bank last september when the word got out the justice department asking $14 billion and spending half that amount. >> that's right. >> half of the money goes to the justice department and half goes to community programs. they have gotten billions from the banks and you do wonder where it is all going. >> i thought of

. >> penn state rung back barclay will play despite leaving last week with an ankle injury.ently. that means incredibly fast 150 meg internet for the holidays. so in the 3.7 seconds it takes gary watson to beat the local sled jump record, fly, gary, fly. ...his friend can download 13 versions of the perfect song... ...his sister can live stream it... ...while his mom downloads how to set a dislocated shoulder. get 150 meg internet, tv and phone for just $79.99 per month online for the first year. cable can't offer that. only fios can. >> carson wentz could be shart handed once again. jordan matthews misses practice today. he's questionable for sunday. eagle coach doug pederson is not giving a concrete yes or not after benching the receiver monday night. >> his mind has been good. he's working hard. right now, nothing says not keeping him up, keeping out. >> football playoffs, archbishop wood fans cheering all night long at academy park. archbishop wins 37-0. they advanced. local teams fighting for state title. >> all right, jeff. "jimmy kimmel live" next. followed by "nightl

let's look at a one month chart from barclays. these are all barclay charts.t up to five years. the spreads are narrowing and very well behaved, as you see on that five-year chart. well, you are thinking, aha, high yield is where everything is hiding. let's look at high yield. very similar. as a matter of fact, on the five-year chart, you could almost argue as well behaved. now, how did we come to end up in this predicament? largely in many ways through negative rates. yegtive rates were the big story, in my opinion and arguably the biggest story in 2016. there wasn't one point where we were over 13 trillion in outstanding negative debt throughout the globe. what that did was create an environment where the only way you could make money on negative debt was to be sure that there were others that were willing to buy it from you. well, all of this is changing. it doesn't mean that interest rates have to skyrocket in a disorderly fashion. as a matter of fact, to me the key are the other two markets. equities in the dollar. the dollar is going to be key in terms o

but barclays is still fighting that one. louis?o met with the heads of boeing and lockheed martin earlier this week and yet he took his effort to cut defense costs back to twitter. how is everyone reacting to that? >> well, this is a controversial one, louis, because president-elect donald trump, as you mentioned, had spoken to the ceos of both companies and n he appears to be pitting boeing and lockheed martin against one another. now, in that tweet he did say based on the tremendous cost and cost overruns of lockheed martin's f-35 program he has asked boeing to price out a comparable f-18 super hornet jet. he wants to see whether or not he can get a better deal from boeing because the f-18s do cost less but some sector analysts point out they don't have the same capabilities of an f-35. given that the f-35 is so crucial to lockheed martin's revenue this impacts the stock. that tweet alone helped drive lockheed martin shares down 2% in after-hours trade. speaking of stocks moving lower you may be wondering why we have yet to hit t

medallist stepped out together for the "sports illustrated" sports person of the year ceremony at the barclays center in brooklyn. four months after you might remember he asked her out on a date via a video going viral on social media. >> so cool. telling people magazine they kept the relationship quiet following a chance meeting where their paths briefly crossed in denver. perfectly. >> adorable. >> testing the limits of hollywood's hottest lead man coming up. ou to stay this bright blue forever... that's why you will stay in this drawer... forever. i can't live without you. and that's why i will never, ever wash you. protect your clothes from the damage of the wash with downy fabric conditioner. it not only softens and freshens... it helps protect clothes... from stretching, fading and fuzz... so your favorite clothes stay your favorite clothes. downy fabric conditioner wash in the wow. take delsym, the #1 12-hour uncontrolcough medicine. it helps control the impulse to cough for 12 hours. which means, you're controlling your cough on your morning commute. and later when you're joking with b