bnp paribas has been fined $216 million by the us federal reserve. be punished over traders who allegedly shared information about currency bids without adequate oversight from their banks. bnp paribas says it deeply regrets the misconduct — which was a clear breach of its own standards. the electric car company tesla has added two independent directors to its board, including the boss of 21st century fox, james murdoch. the move comes amid criticism by some shareholders of a lack of independence on tesla's board. some investors believe that too many of the company's board members have personal or professional ties to boss elon musk. citigroup has chosen frankfurt in germany as it's new european trading hub, in part of its preparations for when britain leaves the eu. according to various sources, the us bank will present the choice to its board of directors this week for approval. plenty more stories online. harry potter still coining it for bloomsbury. another wizard quarter. total revenues for the three months to the end of may were up 19% year on

our view at bnp paribas is it is likely to be the boj.is likely to be or remain the week currency. we would not be thi surprised to see euro-yen had higher. francine: interesting call. i was looking through your nose and this, high, canadian dollar versus new zealand dollar. , where else do -cad.et nzd >> we think this is going to be elevated. that chart is a great want to highlight. we think the bank of canada may actually surprised markets and hike rates this month. if they do that, the canadian dollar should do well and outperform currencies like the new zealand dollar. this is a great way to be positioned for that view if you have confidence like we do that the bank of canada will hike rates. francine: is this your favorite chart? >> it is. we think the market is too hawkish. there is potential for the bank of canada to surprise. this is not a trait that is interesting for everybody, but it elevates position and pilots opportunity. tom: thank you so much. steven saywell, bnp paribas. paper,this as a litmus proxy or the system. toldwid

bnp paribas is the latest in a long line of banks to be hit by a currency—rigging scandal.just been handed a whopping $216 million dollarfine by america's central bank. it's the latest punishment for traders who allegedly shared information about currency bids without adequate oversight from their banks. the scandal has led to billions of dollars in fines on both sides of the atlantic, having already hit the likes of barclays, rbs, deutsche bank, 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 corr

bnp paribas still showing it is possible to build and investment banking franchise here in europe.shining deutsche bank and wall street for yet another quarter, posting a standout performance and equity derivatives to help drive that is unexpected earnings. bmp, credit suisse, and ubs in the last year in order. the laggard up by 27%. the was another lender that reported earnings to spain's workingbank after its purchase last month. inular has seen a rebound profits since the takeover since santander. that upsets losses from bad assets . deposits rising by 5 billion euros since that purchase and july 20. little changed today, but spain's economy is on a bit of a roll. it's expanding on the fastest pace in two years and extending growthery that shows after expanding in the first quarter of the year. friday's report did not break down the components. the growth probably benefited from consumption fueled by strong job production. -- there yourism go, spanish growth continuing to chug along. how's it looking there? vonnie: let's ask the person who knows when it comes to the winners and

more portly, we're seeing the big banks chip in and downgrading forecast, including bnp paribas and barclaysutting $255 a barrel of -- cutting to $55 a barrel. ahead of the janet yellen speech and testimony, currently at $11 announce. goal remains vulnerable in the current environment. treasuries for gcc bonds tightening. hedge funds have been fleeing the lira, the rent. the s&p gcc recasts what has been happening. bright green picture overall, gains of 8/10 of 1%. saudi stocks performing well. health care gains as well, up 1.8%. earnings out from extra and saudi arabia gives a flavor about how consumers are doing. 1.2%.er discretionary of real estate relatively a weak spot in all of this. let's check in on the first world headlines from around the world. hasd: another fed official offered evidence that we can expect at least one more u.s. rate rise this year. -- forecasts of another rate hike a reasonable. -- are reasonable. for going muche more gradually in raising interest rates were holding off on doing that for a while. i am not overly concerned about that because in the u.s., i do that

. >>> shares of bnp paribas are slipping the french bank agreed to pay a fine as a settlement with theeral reserve over allegations that employees manipulated currency markets from 2007 to 2013 all employees involved have been fired or disciplined. >>> rio tinto is scaling back its outlook for iron ore outlooks this year the production in the first half of the year was disrupted by wet weather in australia and railroad repairs >>> ericsson lower in europe today. the company reporting a bigger than expected second quarter loss it's down 11% in swedish trade. >>> time for our top trending stories. the internet is buzzing over a retracted claim about taylor swift. rumors began swirling yesterday afternoon when splash released a photo of two of taylor's bodyguards carrying a giant black suitcase out of her new york apartment and the caption said the pop star was being transported inside the suitcase. this after months of questions about her whereabouts. >> this is outrageous. who would hide in a box. plus if anyone didn't know, taylor swift is 5'10" 5'11", she's tall she can't fit in the b

can e-mail us, yeah, streetsignseurope@cnbc.com you can get in touch with me, steve_sedgwick >>> bnp paribas shares trading lower after 3.4% decline in group revenues for the second quarter of 2017. the investment banking unit bucked the negative trend. reporting a near 5% pick up in top-line growth. we'll speak to gemma in a few moments time >>> coming up on the show, shares het it an all-time high adidas details after the break. i am totally blind. and for years i've struggled with non-24, a circadian rhythm disorder that can turn my sleep cycles upside down. it kept me from doing the things i truly love to do. sometimes i'd show up early; sometimes i was too late. and sometimes, even though i was there... i didn't really feel..."there." talk to your doctor, and call 844-234-2424 to learn more. 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. >> that's good you came back. let's look

bnp paribas has outshone deutsche bank and much of wall street for another quarter.it was 2.4 billion euros, surpassing the estimates of analysts. amid surging demand for derivative products. there is a positive momentum which is continuing. that environment -- we should probably let that cater a little longer. bbva is getting stronger in its core business of lending, especially outside of its spanish market. income rose 6.6%. helping the lender post a quarterly profit of 1.1 one billion euros. we will bring you an exclusive interview with the bbva cfo. amazon tumbled in quarterly trade after offering a disappointing outlook as expenses rose. atnings per share came in $.40. much lower than the $1.42 expected by analysts. santander has reported a 30% increase. profit rose. that is as spain's largest bank is beginning to increase popularity. that is your bloomberg business flash. let us cross over to nejra to get your market movers. nejra: let us start with at leisure. its profiteased forecast. it hopes to increase its income at 24%. it is really benefiting from the bo

we are back with paul mortimer-lee of bnp paribas and tony dwyer.sheet, and the percentage of gdp, what could another prime minister, if mr. abe gets replaced, how much influence could they have? >> it would clearly be a massive shift, certainly a shift of philosophy. certainly abe has to worry about is opinion poll ratings. once you get to a certain level, you tend not to come back. we are not at the level where it is irretrievable. it is worrying. change, there would be challenges and questions about what this would mean our japanese economic policy for the oj -- boj and yen. imponderables here are critical. it is important to understand the timeline of his future. we don't know. >> we don't. >> let's go to the single best chart right now. we were going to do this with mr. dwyer. this chart is a spoof. it is the ugliest chart i have ever done on bloomberg. the white line is the inverted yield curve heading towards the doom and gloom of that red oval. the yellow line is the stock market. you say we need some yield curve myth busting. with the convo

bnp paribas has been fined for unsafe and unsound actresses in the foreign exchange market. fed says the fx trade was insufficient, and has ordered the company to improve oversight and control. that is your bloomberg business flash. showingt trump is products made in america at the white house, as we were just mentioning. is doing an introduction, i believe, to donald trump at this moment. elseope is that nothing detracts attention from made in america. joe: i wonder if they can go a week without having that happen. scarlet: we have seen in the structure week, energy week. what else? joe: i cannot keep track of all the weeks. scarlet: we will bring you the president's comments. in the meantime, we look ahead to netflix second-quarter results, just after the bell. ♪ scarlet: you can see president trump beginning to speak at the white house. it is made in america week. let's listen in. pres. trump: the other administrations could not come close. you know how long it took? one sentence. we wouldresident xi, love to sell beef back in china again. he said, you can do that. that w

laurence mutkin from bnp paribas. manus: now, just over an hour to go until the cash market open.ou futures. we will have a conversation with the ceo of novartis. it just had the numbers. ♪ manus: then and rival, the health care bill facing more republican opposition. the dollar slumped and treasury yields fall. anna: china stocks fall further after monday's selloff on concerns of tougher regulations can to nearing to reverberate through the market. manus: mission currently hits a two-year high after the economy outlook improving. you are welcome, it is "bloomberg daybreak: europe. i am manus cranny -- >> and i am anna edwards. it has just gone 7:00 in london. coming up, we will be speaking to the novartis ceo. he joins us after the company's second quarter earnings. we will get to that conversation shortly. one or two other companies reporting, but let's get into the futures. no, 2.09, nothing that prophetic. generally the view's health care is dead on arrival. what is the propensity for donald trump to deliver on the rest of his fiscal and in the structure spend. if you read, yo

betty: bnp paribas has been fined almost $250 million by the fed for failing to prevent fromncy tradersipulative prices. they reached a three and $50 million settlement with new york. -- 300 $50 million settlement with new york. bnp has been ordered to improve oversight and internal controls on foreign exchange trading. shares have been soaring in extended trade after subscriber growth numbers crushed estimates. that is get the details from bloomberg's lucas shaw in los angeles. i am a surprise the stock is roaring right now. what was holding that the company was a skepticism about subscriber growth momentum, and yet, they killed it. how did they manage it? >> netflix is not the most forthcoming company when it comes to details of where they get their subscribers or who is watching it. the best you can tell is that they are succeeding all over the world because they now operate in 190 countries. they have a lot of places from which to draw. they added customers in the quarter, 4.1 million of which came from overseas. my guess, based on what you see from analyst estimates is it is a mix.

the banks are up like bnp paribas.ood session in europe, as well. 2,453 as i recall was the old high on s&p 500. that is 12 points away. as carl mentioned we are just shy of new highs dow jones industrial average. >> thank you very much. bob pisani. yields at some pretty critical levels. let's get to rick santelli. >> not only are yields at critical levels they turned at critical levels. pretty darn big move. look at one week you can see that it broke the range pattern that it started to establish. but here is the money ball chart. many traders on this floor had it right. we did an exchange on it a week ago. 2.41 was an area that traders were paying attention to for the resistance. it was high in may and significant high given the order of how we had big moves really since the election and all the extremes. you want to pay attention to that. the new area to pay attention to, some things never change. 2.27. you want to pay close attention to thatthat. pay close attention to the distance and yield separation because if t

steve liesman has it >> the federal reserve announcing it will fine bnp paribas $246 million the federal reserve citing unsafe and unsound forex practices at bnp part of a larger scandal involving manipulation of foreign exchange that now encompasses four banks ubs, barclays and deutsche bank. and it looks like they are approaching nearly a billion dollars in total i don't know if this will be a total surprise to the market in january 2017, the federal reserve board permanently prohibited pnp paribas trader jason katz from being involved some analysts thought this might be coming. now the federal reserve announcing this $246 million fine which looks to be in addition to the fine put in place by the new york bachking regulator. >> thank you very much >>> let's take a look on where we stand all three indices are on pace to close at record highs, even though it looks like on the percentage basis, not much is happening. let's look at some of the names hitting all-time highs mastercard, cigna, boeing and facebook some retailers on the move leading macy's, sears and kohl's >>> winnie the pooh

bnp paribas head of market objectiveaid opec's is elusive in the short-term.t began earlier this year is continuing. bloomberg tells summer bookings are rising after staying awake in 2016. this summerngs for are also quite positive. taylor: that was the c.e.o. speaking to work in france over the weekend. shares are soaring. the owner and operator has agreed to be acquired for about $1 billion in cash by apollo. premium over a 31% the closing stock price on july 7. caroline, over to you in london. theresa may is calling on opposition lawmakers to help steer britain out of the e.u.. the implications for europe's economy and trade relationships. she is holding a meeting with the prime minister of australia visiting the u.k. at the moment. they have been talking about tariffs and trade. they've been to the scene of a terror attack in london together. politicalng infighting and losing some of their political strength. theresa may lost the majority in may. let's bring in daniel and david. daniel, i want to start with you. you mentioned the differences between the ma