blerina uruci of barclays capital, the director of u.s. economics.arly facebook investor reid hoffman says the social network has lost people's trust for good reason. why he thinks that is. this is bloomberg. ♪ matt: this is bloomberg markets. i'm matt miller. early facebook investor and linkedin founder reid hoffman says facebook has lost the people's trust, for good reason. that echoes the testimony from frances haugen who says the company chooses to maximize growth over implementing safeguards on the platform. hoffman spoke to emily chang yesterday at the goldman sachs builders and innovators summit. reid: good for her for coming forward. good for facebook for doing the research. bad for -- you discovered the research that is harmful, but what are you doing about it? it doesn't matter if you say it is complicated or difficult. once you discover something that is potentially very dangerous and damaging, what we should know here from the company is, and when we saw these reports, here is what we started doing. here is where we started making trade-o

barclays has never been this profitable or well-capitalized and the markets business has done its parting us, the investment bank we know was really good. some analysts are pointing to things like they did not relieve any money for credit provisions, the consumer car business was not that great. what was your overall take away? >> the investment bank was a standout. the markets are very quick to look. we've been here before. 2009 was the best year of investment banks in history. the next six years were a constant drudge downward. the market on investment banking, while the share is down today, the nii, particularly credit card revenues were up 4%. it looks like what we are seeing is consumer spending back to pre-pandemic levels. people are paying down their credit cards faster than you would expect. the net income growth is not coming through, and that offset the cib and why i think that shares are down at the moment. the market, not a lot is going on. the overall question is all the rate wars on the banking sector, can you see the money coming through? that was the question not answer

good about the year-to-date for many years we were asked the question, how does barclay get to its target, return on capital 10% or better and i think 2021 will be a pretty strong answer to that question >> unilever recorded a beat in shares, shares up 3.2% the technology space confirmed third quarter preliminary earnings and is sticking to its recently raised guidance back to you. >> thank you >>> back in asia after lifting a trading halt that lasted more than two weeks shares of evergrande sinking again this is the chinese real estate giant. eunice yoon joins us from beijing with more. >> reporter: that deal was meant to raise $2.6 billion for the struggling chinese property developer, but the company told the hong kong stock exchange late last night but it wasn't able to come to terms with the buyer, a small rival called hopson, for 50.1% stake in its property services business so that didn't go over very well for a lot of investors and evergrande related stocks, the stocks itself had dropped by 14% at one point, anything related to it also fell. hopson saw its shares rallies as investors thought maybe i

barclays behind us? >> clearly, lloyds has had a lot of struggles. margins improved for both of them. capitaln for lloyds is a big thing. how quickly can they return the extra that they've got? francine: you are right. we will have to get you back in to answer that. jonathan tice looking at some of the banks you should check out. check out the research he does. we are in the worst inflation environment and two decades according to the unilever chief executive. the company has increased prices for .1% in the last quarter. more from our interview with the unilever chief executive shortly. this is bloomberg. ♪ ♪ tom: welcome back to the european open. we are 40 minutes into the trading day. the ibex down in the u.k. you are lower by 22 points. 43 minutes into the trading session here weighing up inflation concerns with the earnings picture, as well. talking of earnings, tesla missing in terms of sales, but profits beating. tesla shows progress on profit as investors seek perfection. they did really well considering the supply chain constraints, the struggle over semiconductors. they managed to e

jes: barclays, we have come out of the -- in the first six months of the year, it was the most profitable six months in the history of the bank. we have never had the level of capitalhat we have today. the bank is quite strong. we need to make sure we're doing our part to give back to the u.k. and to give back to the global economy. we need to do that. we need to understand how we help small businesses and consumers as they go through this. that is one of the particular challenges of the bank. we have a lot of resources to chase that challenge and i'm pretty optimistic that we and the governments will be able to navigate through the next couple of quarters and next years. there are challenges out there, there are people that are suffering, all of the challenges being called -- caused by the supply chain issue is real, but i think ultimately human ingenuity and the strength of the bank will get us through this. >> what is your take on people coming back to the office? are they happy to be back? i many people are back? --how many people are back? jes: in the united states, the vast majority of our people are back in. you are last -- allowed to ask if someone is vacci

barclays, oppenheimer, credit suisse cuts the target and what about lebenthal, lebenthal and lebenthal. >> thank you for giving me two brothers i didn't know i had >> would you prefer that >> farmer jim capitaluh >> farmer jim capital? i do like that, but i want to be direct here. i don't think you're supposed to step in and buy the stock here this was a very disappointing quarter and there's very little in the way of a catalyst to look for in the near-term i don't think it goes down from here, but i think this is very much going to be like disney over the past seven months and it will be in a consolidation phase. for me, personally this is a below average sized position in my portfolio and this may be something i'm trimming if you're asking why not today because i don't think the enterprise is worth 7% less today just because of one quarter's lousy earnings or one quarter's lousy guidance so i would wait for a recovery from an oversold condition, but you're not hearing me pound the table on this. >> for sure. i have you at aicm that's the new acronym for your firm that's all in capital management, so we're going to go with that. >> pete, do you see activity in starbucks? >> yeah. there's a