hi, gemma. >> reporter: yes and its also barclays itself. and this is gaining notoriety worldwide because this is the first time that a global bank and its leadership team has faced criminal charges with regards to actions taken during the financial crisis so what is at stake here there is three sets of allegations here and all five defendants, being of course the four former executives and barclays itself, are facing the first charge which is conspiracy to commit fraud by false representation in the june 2008 capital raise. and barclays plus former ceo john varley and robert jenkins facing two additional charges, one in relation to the capital raise and also one in relation to providing unlawful financial assistance in 2008, they raised money in june and october and between the two, qataris contributed around 6.1 billion pounds and they also arranged two side deals in which they provided funding to the qataris and the question at the heart of the matter is did barclays provide the funds simply so qataris could reinvest back into barclays >>

incidentally, barclays isn't the only bank doing this.on against ppi claims. thank you. check out the tablet to all the latest headlines. you're watching business live. our top story... sales at amazon rose in the three months to june but sales at amazon rose in the three months tojune but profits plunged as the company invested in global expansion. the boss briefly became the world's chip man but went back to second place. —— richest man. a quick look at how markets are faring. the dax and the foot cedar are down. and now let's get the inside track on the other big economic news of the week. philip hammond has told business leaders he wants companies to have full access to the single market and customs union for two years after brexit. the chancellor of fixture has been talking to the bbc and emphasise the importance of the transition day. my view on transition day. my view on transition is well known. i believe it will be in the interests of britain and the eu if, after we leave the european union and the single market, and the customs

more now on barclays.n the second quarter, hit by the one—off costs of a big disposal in africa and a further knock from mis—selling payment protection insurance to uk customers. but stripping out the losses from the africa sale, barclays posted a 13% rise in group pre—tax profits to £2.34 billion. i'm joined by russ mould, investment director at aj bell. should we be worried about the size of these one—off costs? they will be out of the way at the end of the year but they were pretty big. out of the way at the end of the year but they were pretty bigm out of the way at the end of the year but they were pretty big. it is a nice idea to think they will be one—off but barclays has been littered with them since 2011 so although the chief executive says he's trying to get the costs down quickly they keep coming back. the good news is that ppi will be buying them by 2019, we know about the africa sale, but the company is still restructuring and some of its loa n still restructuring and some of its loan losses h

bankers in the dock — four senior directors at barclays are charged with conspiracy to commit fraud. that reveals the workings of the brain as never before — it could revolutionise treatment. and andy murray shakes off injury to begin a solid defence of his wimbledon title. and coming up in sportsday on bbc news — away from wimbledon, everton continue their spending spree, signing burnley and england defender michael keane for a fee which could rise to £30 million. good evening. an inquiry into seven decades of abuse of children in care injersey says children there may still be at risk. more than 600 witnesses have given harrowing evidence about the systematic mistreatment of vulnerable young people such as being sexually abused, tortured with electrical wires, locked in confined spaces or simply abandoned. the independentjersey care inquiry recommends that the children's home at the centre of the scandal — haut de la garenne — be demolished. it has also found failings injersey‘s child care system even now and says the lessons of the past have not been learned. robert hall is in jers

so not just the four form xerk differen exec about differences, it's also barclays bank itself facing trial. all five defendants, the four former executives and the bank sfefl, are facing the first charge which is conspiracy to commit fraud by false representation in relation to the june 2008 capital raise. and then three of the defendants, so barclays itself and former ceo and former head of the middle east are facing two additional charges, one similar charge in racket to the october fund raise and one charge ever unlawful financial assistance which pertains to a $3 billion loan extended to the qatar. and in 2008, there were two big capital raises by barclays during which the guitarries contribu contributed. and bar classclays leapt or gav billion pounds of financing. the question is did they lend or give the money simply so they could reinvest it straight back into barclays itself the this has issues in regards to disclosure because market participants did not know whether all investors were getting the same terms it also raises concerns as to what was the exact nature and purpose

to own ba rclays. how much essentially investors want to own barclays.e are saying, they are kind of... they have been avoiding barclays during this whole process but forgetting to court stage is almost the last steps we would expect some financials to do quite well now including barclays and actually for them to ignore the actual outcome. we have had a lot of scrutiny, this case has been building upfor scrutiny, this case has been building up for over five years, so 110w building up for over five years, so now the horse has bolted, if you. potentially if there is no other regulatory concerns in the way... we have seen the regulatory glare turned more towards tech than financials which could be good news for financials down the line. kathleen brooks, as usual, thanks very much for that update on the markets. thank you. still to come... science fiction becoming science fa ct. science fiction becoming science fact. we will be looking at how augmented reality could be coming to augmented reality could be coming to a business near you in the not too distant

and barclays in the mix. that is up next.to "bloombergback markets: european open." while all of the banks are reporting earnings, they are not able to lift the equity index. credit suisse gains but ubs is down. let us dig in a little deeper with these financials. 2.6%t suisse gaining, up reporting a 78 increase in second-quarter profit. that was a beach. the wealth management profit increased as well as client management. halfwaythe question, three-yearthe restructuring plan, whether credit suisse is looking more like a wealth manager. he did say to a challenge with low volatility. we also heard from ubs. ubs did beat to with second-quarter profits, and also both wealth management units delivered higher results, low interest rates squeezing margins. but why is the stock down? it is because of the ratio. we saw it at 13.5% in the second quarter. down from 14.1% in march. that is what is causing the shares to drop the most since january. and looking at amundi. second-quarter profit. its first net fund outflow since 2015's list

four former barclays bankers have appeared in court over allegations of fraud. of fraud. andyjoins us from westminster magistrates' court. bring us up—to—date. westminster magistrates' court. bring us up-to-date. this is the first time you have seen senior bankers facing criminal charges in this country since the financial crisis, and the only time that you had seen anyone, any banker, facing criminal charges for action they took during the financial crisis. it is also the only time we have seen a chief executive face criminal charges. john varley, the former chief executive, along with roger jenkins, thomas claris and one other, had been charged with conspiracy to commit fraud by misrepresentation. this goes back to 2008, when barclays thought it would be forced to be nationalised, the tax payer becoming a shareholder. they did not want that, so they went to abu dhabi and qatar and raised more than £11 billion ace, but the serious fraud office alleges that representations were made that were false. it also alleges that there was an unlawful assistance of that c

we feel good about the next chapter of barclays in front of us >> not just barclays reporting today a whole host of companies have come out with figures, including these two. ubs shares falling 3%. on investor concerns about gross margins in wealth management this despite beating second quarter net profit extechtation expectations credit suisse reported a record level of assets under management during the second quarter. the swiss lender saw it's strongest inflows in six years helping it post 78% rise in net profit both banks warn, as did jes staley talking to geoff and karen later on that low levels of volatility and geopolitical concerns were weighing on market activities before we get to carolin, volatility, the banks moan when there's too much volatility and now beknomoaning too little volatility isn't that interesting when a happy goldilocks level of volatility, and they're not seeing it. carolin roth carolin roth has more. you have spoke to both the men in charge. >> i think there's a couple reasons. first, i would say that there's less surprise potential when it comes to ubs th

have you fully digested barclays at this point? integrated into the bank of singapore platform. we have been able to cross sell the capabilities that barclays has into our original franchise. and so, bank of singapore -- penetration ratio has really increased. >> are there plans to further expand the wealth management business, because when you take a look at the number of billionaires, one billionaire in asia is minted every three days. so, there is great potential. are you looking to hire more, acquire more? what is the strategy? samuel: we will continue to build the business. organic growth, as well through the addition of rm's which will recruit from the market. with respect to whether there will be further acquisitions or not, it really depends on market opportunities. ♪ ♪ david: you're watching "bloomberg best," i am david gura. in addition to deutsche bank, credit suisse, and barclays also reported quarterly results this week. one of the leaders of these european banks have to say? we spoke to all of them. let's start with t

have you fully digested barclays at this point?lays has been fully integrated and we've been able to cross sell the capabilities into our original franchise. and were introducing more capabilities into the barclays franchise. as linda: are there plans to further expand the wealth management business? minted everysia is three days, so there is great potential. what is the strategy? >> we will continue to build the business in organic growth as well as recruiting from the market. marketnds on opportunities. haslinda: market equity is the highest in two years at 12%. do you see rising are always going forward, and what are the prospects? >> if the momentum continues, the return will be good. good quarter. going forward we will continue to focus on that because that is the return to our shareholders. it really depends on the return to our shareholders. >> what is the risk-reward? >> there are even risk that we always face. some of the policy risks in the countries we are in, those are the risk. in terms of economic, in the near-term, t

barclays, an from end to the restructuring. .off costs of the disposal of the african unit. earlier we spoke to the ceo on the numbers. >> with the investment bank overall, in the advisory business and debt underwriting, we had a great quarter. the first half of this year was one of the best results the bank has had. in that part of our business. credit-rating we have done quite well. in rates and currency we are still not happy with where we are. we were down in the second quarter. veryve made recent important hires there. we will get that corrected but overall, investment banking had a good quarter. still happy with the extent to which you back the investment banking business at barclays and you think your taken enough action to turn that performance around? >> we still have room for improvement. there very pleased with strategy that we set out in terms of the transatlantic consumer, corporate, an investment banker we have a strong position in new york. we're the number one bank and the u.k. with a market share of over 10% in t

anna: barclays is in the dark.our executives in the bank itself face fraud charges over capital raising could we bring you the details of what is to come. this is bloomberg. ♪ manus: welcome back. the dollar against the yen, 112 .5. let's check in on the markets. a muted session across asian equity markets, trading volumes light. nikkei and hang seng volatility rose the most in a month on friday. that coming down quite a bit in today's session. fromility might be awaking a coma, but still pretty groggy. are, adding towe a 16 basis point surge last week, the most since march, but the 10 year yield is just 1% above the record low set a year ago this week and this shows that the verge an convergence. diversiongence. the worst start to the year for the greenback, finishing the longest such stretch since 2011, wiping out postelection gains. if history is any guide, things could get worse. the dollar has weakened with positive and negative data surprises. oil, a day winning streak, the longest since 2014 for wti. after t

have you fully digested barclays at this point?apore platform. we have been able to cross sell that capabilities that barclays had into our original franchise. so, penetration ratio has really increased. >> are there plans to further expand the wealth management business, the number of billionaires, one billionaire in asia is minted every three days. so there is great potential. are you looking to hire more, acquire more, what is the strategy? >> organic growth, as well as rm'sgh the addition of which will recruit from the market. with respect to whether there will be further acquisitions or not, it was back -- it depends on market opportunities. ♪ ♪ you're watching bloomberg best, i am david gura. in a dissenter deutsche bank, credit suisse, and barclays also request -- reported order results this week. we spoke to all of them. let's art with the ceo of credit suisse. ♪ i think our strategy is working to read as you say, it is 18 months out of 36, and i believe that we are delivering. jump in growth and we have generated almost 23

four senior barclays bankers have appeared in court the first time, accused of conspiracy to commit fraudg street insists there is no change to government policy on the public sector pay cap, and the continuing pressure to lift it. a coach carrying elderly tourists crashes in germany and bursts into flames — 18 people are missing, feared dead. also in the next hour: trying to restore power—sharing in northern ireland — sinn fein has said it is unlikely there will be a deal in the talks at stormont in the short term. the northern ireland secretary is due to give a statement shortly. and andy murray is through to the second round of the men's singles at wimbledon. the number one seed beat alexander bublik, of russia, in straight sets. good afternoon and welcome to bbc news. a long—awaited report into seven decades of child abuse in the care system injersey has warned that children may still be at risk. the independentjersey care inquiry describes a government seemingly "ignorant, uncaring and unwilling" to deal with issues facing vulnerable people, and services which are still not fully fit

barclays posting a net loss due to shares in its effort to unit and part of a scandal. jes staley on the pain of protection and insurance scandals and how he feels the investment bank's performance. >> with the investment bank overall, we are quite pleased. with equity underwriting's and debt underwriting's, we had a great quarter. the first half of this year was one of the best results that the bank has had as part of our business. credit-rating did quite well. in rates in currencies, we're still not happy with where we are. we are down in the second quarter. we have made some recent very important hires. we will get that corrected, but overall, i think investment thanking had a good quarter. >> are you still happy with the extent to which you backed the investment banking business at barclays? have you taken enough action to turn that performance around? >> we still have room for improvement. clearly very pleased with the strategy that we set out with the transatlantic investment bank. we have a very strong position in new york. we are the number one investment bankin

. >>> coming up, in fact, hertz getting wrecked today after barclay said the stock is about to endure the perfect storm. we'll explain. >>> plus tesla delivering its model 3 to its first customers over the weekend just how unique is that car? it may surprise you. a special "fast money" report. >>> a top technician says watch out, tech is setting up for a double dip he will explain. much mor"ft ne sll ead.e asmoy"ti for your heart... your joints... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain health supplement in drug stores nationwide. prevagen. the name to remember. track your pack. set a curfew, or two. make dinner-time device free. [ music stops ] [ music plays again ] a smarter way to wifi is awesome. introducing xfinity xfi. amazing speed, coverage and control. change the way you wifi. xfinity. the future of awesome. >>> welcome back to "fast money. snap sinking today on the heels of its lockup expiration julia boorstin in los

the barclays number, we have a comparison for you.arter adjusted profit before tax 1.4 billion against an estimate of 1.2 billion. some in banking sector is very well aware of all that is with that in mind. let's pull of the board. given those numbers for you, 16234. here's juliette starling. in the u.s., the senate has rejected the skinny repeal of obamacare that came despite assurances from paul ryan that his chamber would not have the measure. mitch mcconnell described the outcome as a disappointing moment. earlier the senate gave its final approval to legislation strengthening sanctions on russia. the measure also gives congress the power to block donald trump from lifting them. it now goes to the white house which has given mixed messages on whether he will sign the legislation. scaramucci has -- a profane charade. scaramucci used an expletive as a described reince as paranoid schizophrenic. he said i made a mistake interesting eight reporter helped by rising power costs, consumer prices which excluded first through -- fresh food

it brings the total amount set aside by barclays to over £9 billion. people mis—sold the policies. a man who stalked his ex—partner, who then committed suicide, has admitted manslaughter. nicholas allen bombarded justene reece with abusive voicemails and texts. she was found hanged at her home in stafford in february after leaving a note saying she had "run out of fight". the prime minister of pakistan nawaz sharif has resigned, after the country's supreme court disqualified him from public office over allegations of corruption. they stemmed from documents known as the panama papers, which were leaked two years ago. the papers linked mr sharif‘s children with offshore companies, and with the purchase of luxury apartments in mayfair in london. this report from our pakistan correspondent secunder kermani contains some flash photography. they've been chanting "go, nawaz, go!" for over a year. and today he left. nawaz sharif resigned after pakistan's highest court disqualified him from holding office. judges decided he'd not been honest in dealing with a c

four ex—barclays bankers, including former chief executive john varley, have appeared in court chargedd emergency funds from qatar during the 2008 financial crisis. all were bailed to appear again in two weeks' time. a teenager has been jailed for a minimum of 16.5 years for planning a terror attack on the anniversary of the 9/11 attacks on new york. the old bailey heard haroon syed was plotting to bomb an eltonjohn concert in london. two men have been charged after border force officers based in france seized 79 handguns. the weapons had been hidden in engine blocks on a trailer which was about to be taken through the channel tunnel into britain. two men from poland and the czech republic were arrested in connection with the raid. a price cap on energy bills could be extended to many more households on low incomes, under plans being considered by the regulator, 0fgem. labour said the plans represent a u—turn because the conservatives said in the election campaign they would bring in an even wider price cap for 17 million customers. 0ur personal finance correspondent simon gompertz is

we will be back to talk about barclays and banks.loomberg. ♪ will come back to all of this. let's get back now to the bloomberg business flash. >> goldman sachs is reviewing its commodities business after a slump in the first half of the year according to a person with knowledge of the matter. they say while the blank -- bank flag for the first quarter, the units start to the year has been the worst in more than a decade. they added the commodities division was when the most talked about subjects at a board meeting in london. the u.s. department of homeland security has lifted its ban on electronic devices in the cabins of commercial jetliners flying to america from abu dhabi. the move comes after the u.s. validated security measures at a facility inside abu dhabi international airport. u.s. officials are urging overseas airports to beef up security after intelligence beorts warned terrorists may capable of hiding bombs in electronics. google parent out the bat antitrust fine will cut profits in the second quarter. the company plans

if you were a customer of hsbc or barclays and you want to ta ke hsbc or barclays and you want to takeo from january of next year. there is the need out there, the desire for change. but given what happened in 2008, and you know the collapse of lehman brothers and the run on the bank at northern rock, the fear factor kicked in and suddenly you like the old—fashioned bank that's been there for hundreds of years because you believe it will get bailed out by governments if things go wrong and your savings will be 0k. go wrong and your savings will be ok. but monzo bank maybe not? well, the changes that were introduced as a result of those two big to fail banks rbs and lloyds, which cost the taxpayer tens of billions of pounds in bail outs. the government responded by saying actually we want more banks with more competition so if one or two fail, that's ok. that's a sign of a well functioning market and the way we will protect consumers is the financial services compensation scheme. so your deposits are guaranteed up to £85,000. that's the hassle though. it is easier if you're bailed out b

it brings the total amount set aside by barclays to over £9 billion.ld to cover loan repayments if people fell ill or lost theirjob. more than £27 billion has now been repaid by the banking industry. a gang which carried out a series of raids, including stealing more than £a00,000 worth of designer goods from footballerjohn terry's mansion have been sentenced today. let's speak to our correspondent andy moore at kingston crown court. give us more details of what they did. well, this court heard today thatjohn terry made the mistake of posting to social media the fact that he was on holiday. back in february, he told his 3.4 million followers on instagram that he was away in the french alps. he posted a picture of himself and his wife with a message, "a great few days away skiing with the family." after that, his mansion in surrey was targeted by burglars. they stole designer handbags, one of them alone was worth £42,000, £200,000 worth of jewellery was stolen. about £18,000 worth of rare first editions of the harry potter books signed. john terry's mas

. >>> sticking with banks, lots of european banks out with earnings barclays reported a net loss of 1.6 billion for the first hal of the year. the bank was hit by the fall in sterling, a charge from the misselling of payment protection insurance scandal and a loss from the sale of its africa business despite the loss, barclays ceo jes staley telling cnbc earlier today he feels good about the future >> we're now a clean bank. the restructuring is over. we generated a return on tangibilitan tangible equity in the bank of 7.2% our profits before tax, year over year, were up about 78% we feel good about how the bank is positioned. our strategy of being a transatlantic, consumer corporate bank is free of the legacy issues. >> barclays shares were up initially. the trading performance was relatively encouraging equities better than the u.s. banks fixed income, in line with the u.s. banks, down but some notes coming out ubs note on earnings pointing to weak investment bank revenues. so the stock slipping a quarter percent. >>> ubs reporting a 14% rise in second squauquarter profit the bank's

terms with this or is fighting it is ba rclays, another to terms with this or is fighting it is barclays the us central bank has told congress that the us economy is healthy enough to sustain more gradual rises in interest rates. janet yellen was reporting to members of congress about bank policy and the economic outlook. let's bring in michelle fleury in new york. i feel like let's bring in michelle fleury in new york. ifeel like if let's bring in michelle fleury in new york. i feel like if i let's bring in michelle fleury in new york. ifeel like if i had a dollarfor new york. ifeel like if i had a dollar for every new york. ifeel like if i had a dollarfor every time we new york. ifeel like if i had a dollar for every time we considered the possibility rates could go up but then they don't in the end, i would be a rich man. what has changed? i think the key thing is she is saying about the economy is growing, albeit slowly, it continues to add jobs. much as you point out, that we have heard from her in recent months. the difference here is that she said interest rates would not have to

the charges relate to a deal between barclays and several investment vehicles owned by the qatari statearea now that the unemployment rate was unchanged at 9.3% in may for the eurozone area. now the figures show huge gaps across the region, but generally an encouraging picture. dr marianna koli is the head of faculty & senior lecturer in economics, new college of the humanities. let's start off with the headline figure, 9.3% unchanged, what does it tell us about the eurozone economy? the fact it is unchanged is not too worrying. a month is a short time in an economy. if look at longer term trends like a year or several years, there has dropped for a long time. 0ne there has dropped for a long time. one month is nothing to be too worried about. the general direction of travel is exactly the right one, the one most people want to see. of travel is exactly the right one, the one most people want to seem we look at the breakdown of the figures, who are the winners and losers? who is doing well and who isn't? unemployment figures vary a lot based on systems of different countries. naturally,

barclays chairman says keeping the euro clearing business in britain is the right thing. a conflicte is between the politics and the economics here. to my knowledge, nobody has asked for clearing to move from a business standpoint. >> a very warm welcome. i am anna edwards. s: they met in june. they discussed, and they were divided in terms of federal reserve, the balance sheet. they are sticking to the gradual pace. we dug deep into the roots of what is going on. anna loves this chart. the story of this chart, this is about the influence station -- inflation expectations from the fed. saw, there wasu this view inflation was going to return and there were more officials who viewed the risk waited on the upside. that has shifted. there are now three cardmembers who think the risks are to the downside. this is about a shift in expectations. this is the doubting thomas factor. anna: they don't understand why inflation is so weak. the timing on the balance sheet, an open question. morning, theres seems to be lots of say and not a lot to show for it. the geopolitical tensions

to loansrelates barclays made available to qatar the in a deal that raised 12 billion pounds.liquidation of to lenders and progress to recapitalize monte paschi was a turning point for the country's financial sector. also discussing consolidation. >> by the end of this year my we probably end up with less than 140 banks or banking groups active in italy. and the consolidation of the sector is already in place. exclude additional consolidation. consolidation at the european level could he welcome. -- he welcome. juliette: that is your bloomberg business flash. our guest is still with the daybreak team, cracking story on the bloomberg. this is what they are saying and volatility and goldman say they have looked at the data. takes, they last for about two years. we are not that far into low-volume. what does it take in your mind to change the perspective on volatility question mark they say it takes a war or a recession. wayne: we have looked at a number of different conditions. to 1941 and looked at various different markets around the world. what is interesting is fuel in a bul

four senior barclays bankers have appeared in court the first time, charged with conspiracy to commit

yousef: that was the ceo of barclays there.me of the key corporate to watch out for. the lowest analyst estimates. reaction likely today. they're saying operation expenses rose 45%. they had an increase in an impairment charge. also watch out for saudi investment bank, they are reporting after the close, or reported after the close, second-quarter net income of 456 million saudi reals. one of the heavyweight industries earlier, the stock is up 9% for the year. zero -- fourand buys, 11 holds. this is bloomberg. jonathan: from new york city, i'm jonathan ferro with 30 minutes dedicated to fixed income. this is "bloomberg real yield." ♪ jonathan: coming up, the u.s. economy rebounds, but inflation forces fade, raising questions about the fed's next move. at&t gets away with the biggest debt market deal of the year. the market wanted even more. issuellionaire investors a warning about current valuations. we begin with the big issue, reflation forces raising questions for the fed. >> yes,

this is our barclays high-yield index coming below 10% in 2016 to just below 6%. j.p.are among those losing enthusiasm for this asset class. deutsche bank strategists are recommending selling high-yield energy bonds. citibank said they've gotten used to it. we are near the lower 2014. said it doesent not take much to start the spiral panic we saw in 2016. vonnie: a genius is inflation -- presentation. i will award the chart tries to emma. well done. emma: always a pleasure. vonnie: tune into bloomberg tomorrow at 8:00 eastern for the boston pops spectacular. ♪ >> it is noon in new york, 5:00 in london. >> welcome to "bloomberg markets." ♪ scarlet: we are live from bloomberg headquarters in new york for the next hour. here are the top stories. is the honeymoon over? president trump escalating asia tensions ahead of his hypercritical meetings with russian president vladimir putin and german chancellor angela merkel. tesla will start production on the most affordable vehicle this week. can elon musk meet his ambitious monthly target by the end of the year? goldman sachs m

he is with barclays, head of economic research.agged in off of bloomberg news floor in london, kathleen hunter with us this morning. kathleen, percolating is the future of the attorney general, and at a lesser level, the future of the secretary of state. this can't be good for anybody, can it? kathleen: well, definitely not. i think, you know, usually we think about in a new administration trying to solidify the cabinet in the opening weeks, certainly the opening months. trump was fairly effective at doing that. he got his folks in place, but now all this talk of will he or won't he in terms of firing sessions really does just kind of build on the narrative that the administration is in turmoil and, you know, takes away from discussions about the things that trump actually wants to be doing. tom: what's your measure oment healthcare today? i wrote the opening for the 6:00 hour, talking about delay, repeal, replace, scommope a prayer. is this just an exercise, almost a parliamentary exercise that they're going to, or is there substa

led to billions of dollars in fines on both sides of the atlantic, having already hit the likes of barclays, ubs and jp morgan chase before we go, a quick look at what the markets have been up to. you can see the figures in the asian markets. we have the ftse. the nikkei has opened after a public holiday yesterday. lots of markets reacting to china's figures yesterday. you can get in touch with me on twitter. buying a knife on line is set to become harder, as new government proposals aim to restrict children getting access to knives. anyone buying a knife on line in england and wales would have to pick it up in person with id, to stop a system where anyone can buy a blade on the internet and have it delivered. here's our home affairs correspondent tom symonds. this is the sharp end of the battle against knife crime in britain. police in birmingham make yet another stop and find yet another nice. without good reason, it is illegal to carry anything bigger than a three inch penknife. —— knife. but this is what police have found in london, including a so—called zombie knife, shown to the home

especially barclays.ing mis—sold insurance over the past few decades for top initially the deadline was thought to be due 2019 at when the regulator came out and made the decision on it, they said august. sofa the past couple of months banks have had to gone back __ go months banks have had to gone back —— go back to the calculator is and work out how much it will cost them. they have said how much they think people will claim. we've done the city is many times. when they say they've put this aside, these are staggering amounts of money. does that mean they are paying out that amount of money or the money is sitting to one side waiting to be paid out? it sits there for a bit until it is paid out, but up until now the reason they keep making these provisions is because what they've said in the past isn't covering what they envisage will be the total amount by the end. and if that because it's becoming easier to track down whether or not you are owed ppi? a lot of the banks do wonder how many people are act

and barclays is downgrading the stock to underweight going into that.ssimistic saying that second quarter may be a sharp mess versus what analysts are estimating. says johnson, the analyst, it is not supportive of the stock price. needs closesays it to $700 million versus what our cleat is estimating. if you take a look at the bloomberg, we have a chart of the consensus. the estimate for this year for 2017 versus the stock price. we have seen the in the data estimate go down dramatically for the company. they are around $355 million for this year even as the stock price has been going up a little bit. sa and theon competition is unlikely to allow for much pricing recovery, and that the earning's focus will be on these pricing trends. mark: what is behind the recent decline of the stock? it has been bouncing more recently. your today, shares are down more than 20%, however, they have since june 21.% a couple of things have been going on. there was a report that pricing improved and not just at hertz, but some of its competitors. consider the enormous sho

it brings the total amount set aside by barclays to more than £9 billion.eople fell ill or lost theirjob. more than £27 billion has now been repaid by the banking industry. more than 50 people have been injured, one seriously, after a commuter train crashed in barcelona. the incident happened during the morning rush hour at the francia station, in the city centre. reports said the train did not brake when entering the station, hitting the buffers at the platform. more to come on all those stories. in particular we will talk more about obama care, health care in the us and everything going on there. but right now we will pause for the weekend weather. still some sunny spells right now across scotland and northern ireland, but for much of england and wales it is cloudy. some heavy rain across wales and spreading across northern england. south eastwards across as the night goes on. still showers and wind into western scotla nd showers and wind into western scotland and northern ireland. overnight temperatures about ten to 15. windy with the rain for england an

globalomberg barclays index. the resilient riau. the purple line, heating oil.is the -- , -- on everyorming day we get to talk about the ghana stock exchange. gain since march 2013. africa's biggest economy after nigeria. think 8327 should be looked at by everybody and i'm glad you told about that. just today, i'm going to give it .o joe letters wide. our lesson of the day. more bloomberg markets to come. stay tuned. is this a phone? or a little internet machine? [ phone ringing ] hi mom. it makes you wonder... shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. [ laughing ] so all you pay for is data. see how much you can save. choose by the gig or unlimited. call or go to xfinitymobile.com introducing xfinity mobile. a new kind of network designed to save you money. york,: it is new in new and midnight in hong kong. i'm vonnie quinn. welcome to "bloomberg markets." ♪ vonnie: from bloomberg world headquarters in new york, here are the top sto

how would they do that against jamie dimon and barclays?, i don't know if they can move to number two or number three. deutsche bank is the still cutting costs at this point. costse growth will be on and only on profitability. the bank -- i'm not sure they going to move up to number two or number three. tom: what otto just that is brilliant. are they going to chase market share? that is the older disease and i don't the john cryan doing that. francine: something he might be addressing, but we have not seen yet. tom, great question. otto, good answer. tomorrow, a look at our interview with the credit suisse ceo. we also speak to the ubs ceo. both banks, the biggest rivals in switzerland, reporting on the same day. this is bloomberg. ♪ reporter: this is "bloomberg surveillance" and i'm taylor riggs. the end is in sight for libor. it will be phased out by the end of 2021. british regulators will try to replace it with a more reliable system. became corrupted after traders were thought trying to manipulate it. republicans are still looking for

the money was so much, lloyds bank 18 billion paid out and barclays at 9 million.: bp, the payouts from oil spill, it is hard to quantify because they keep on rolling it. producers are like moveon. howard marks would join us next week i tuesday at a: 30 a.m. eastern, a fascinating read on where we are ♪ in the markets and vibrations. this bloomberg. >> i have your bloomberg come up flash, at&t has with the biggest bond deal this year and the third largest in history, they sold $22.5 billion of debt, almost 3 -- that is according to a person familiar with the matter, the bond sale probably be less funding at&t needs for its $85 billion takeover of time warner. stephen parker still with us. the at&t offer, the huge subscription and at&t is the lowest rung of investment grade credit, not the juiciest. shows demand for the deal how must cash is still out there, how much people are still looking for yield, how much money is left to be put to work. that will continue, even as clients get reinvested, there is still a lot of cash. the good news is that we are seeing compan

barclays represents 14 position in japan.illion available for acquisitions as it seeks to double in size and diversified. the company operates in amsterdam, brussels, lisbon, and paris and wants to capitalize on the post-brexit world. major transactions are still possible despite the failed deutsche pursuit of lse. reboot of the spiderman series lead the box office with $117 million, the studios first number one open of the year. give sony homecoming a much needed hit after a string of disappointments. babyalso had the film of i driver. loves to talk about elon musk and tesla. he tweeted recently about the model three, and a few hours ago, there you go. , beautiful, out sleek looking, black model three , the first glimpse everyone wants to know, $35,000 retail. >> it is interesting because his stock recently has not done well. with somen sold off concerns about whether or not they can meet the 500,000 model .hree car target can he produce enough batteries to fit in all these cars. equity anr, tesla you can see the analysts re

down -- barclays reported a loss of 1.4 billion pounds. it shares were down around 1% as well.he euro is rising against the dollar again today. figures show that eurozone economic confidence is at a 10 year high. a short while ago the euro was up three tens of a percent against the dollar. let's look at other business news that we are following. starbucks has closed its biggest deal ever. the coffee giant has bought out chinese partners for $1.3 billion to take full ownership of all china outlets. 2000 storesown across china which is the fastest-growing market outside of the u.s.. betterss bank perform than expected in the second quarter. as assetsged 78% under management hit a record high. this was the result of a three-year restructuring program aimed at becoming more resistant. adidas is up as well. the german athletics company says its strong sportswear sales and a more streamlined brand are to thank for the 28% net income growth they are expecting this year. finally, nissan led global vehicle sales. the alliance which includes mitsubishi, sold more than 5 million cars arou

the charges relate to a deal between barclays and several investment vehicles owned by the qatari statet. royal bank of scotland fell from 19th to 30th position and and lloyds dropped from 24th to 35 in the survey by the banker magazine of 1000 banks around the world. in 2008, uk banks delivered 10% of global banking profits; however, that contribution has shrunk to 1.80%. in contrast, french banks madejust over £30 billion in profits, double that of british banks. but so called challenger banks in the uk like metro bank climbed up the global rankings. read speak to brian caplen, editor of the banker. in the last year, brexit has been the big factor in this. this fall in the value of sterling has hit the bank. we measure it in dollars but the royal bank of scotland and lloyds have still fallen without that. they are impacted by a slowing economy. the french banks have consolidated. they we re french banks have consolidated. they were not as big as the uk banks before the crisis but are now doing better. they are stable and more strong going ahead. you feel the future of the uk banks loo

the former ceo of britain's barclays bank deputy court charged with conspiracy to commit fraud duringhe 2008 financial crisis. they appear to in a court in london. it's the first time a boss of a global bank has faced charges for activities related to the crisis. they are accused of raising emergency funds from qatar to avoid a british government allows while hiding the two number -- true nature of the fundraising from shareholders. a french court has been hearing a case over topless pictures of britain's duchess of cambridge. the trial has sparked a debate over press intrusion into the lives of celebrities. it has also led the british royal family to change the way that it deals with the press. our correspondent takes a look at how the royals are trying to maintain their privacy. birgit: she is probably one of the most photographed women in the world -- the duchess of cambridge, formerly known as kate middleton. whether she opens a new exhibition gallery, or anytime she is out and about, there is usually someone snapping away. but when the french magazine published topless pictures o

starting -- we are going to start tonight with the nba draft, which is taking place right now at barclaysenter in brooklyn, new york. the nba draft is i think the most interesting draft in sports. and it's important because it helps to decide which teams the players will be on when they lose to the golden state warriors next year. [ laughter ] with the number one pick the philadelphia 76ers chose markelle fultz. he is a great point guard from the university of washington up in seattle. he also just happens to be with our very own guillermo right now via -- [ cheers and applause ] the cisco stream. hi, markelle. congratulations. >> how are you doing? i'm doing good. thank you. >> jimmy: you're welcome. you're going to philadelphia. my first question is cheesesteak related. which do you like? pat's or geno's? pick a side. >> i know, i know. i actually haven't been in either one yet. i've been going to like larry's. i had my own chef cook me one. i'll have to check it out. >> jimmy: what does it feel like to get picked first in a sport? that's never happened to me. [ laughter ] and i'm just