that was the ceo of change bank.her business news, south korean retail giant lotte is calling it quits in china because of tensions between the two countries. lotte ways to sell some 01’ countries. lotte ways to sell some or all of its supermarket stores on the mainland following heavy losses. the firm has hired goldman sachs to manage the sale, still in its pulmonary stages. lotte is close 87 of its 99— mart stores in china since march. —— has closed. google is being sued by three female former employees over alleged gender dissemination. their lawsuit claims the incident giant pays women less than men. google says it is reviewing the charges but disagrees with the allegations. it has previously said that any pay differences are due to different levels of experience. sometime later today nasa will receive the final signals from the cassini spacecraft it plunges towards saturn and burns up it plunges towards saturn and burns up in its atmosphere like a meteor. cassini began its mission 20 years ago and a lot has happ

these banks changed their services so fast. they put so much resources on the technology and on serving the people better. you don't have to buy a bank and change one bank. when a tiger is following you, you can much run faster than you thought. you are asia's richest man, but you are-- stephen: asia's richest man, but are you still an entrepreneur? jack: i don't think about that. i don't have time to spend money. how much money you can spend. stephen: coming up, alibaba broadens its scope, investing heavily in southeast asia and into brick and mortar under its new retail concoction, and jack ma sizes up one of his chief competitors. jack: i think tony did not have any experience in mobilization. -- globalization. not like us. ♪ stephen: having conquered e-commerce, alibaba is investing in areas like cloud computing, logistics, digital entertainment and even brick and mortar retailing by marrying the online and off-line worlds through its supermarkets, as well as the cashless and cashier less convenience stores. it begs the ques

these banks changed their services so fast. put so much resources on the technology and on serving the people better. you don't have to buy a bank and change one bank. when a tiger is following you, you can much run faster than you thought. stephen: you are asia's richest man, but are you still, in your mind, an entrepreneur? jack: i never think i am the richest man. i don't have time to spend money. people say jack, you can spend money better than the other guys, so how can you increase my own private set? much money you can spend in your life? stephen: coming up, alibaba broadens its scope, investing heavily in southeast asia and into brick and mortar under its new retail concoction, and jack ma sizes up one of his chief competitors, tencent. jack: i think tony did not have any experience in globalization. not like us. ♪ stephen: having conquered e-commerce, alibaba is investing in areas like cloud computing, logistics, digital entertainment, and even brick and mortar retailing by marrying the online and off-line worlds throu

these banks changed their services so fast. o much resources and technology on serving people better. you don't have to buy a bank to change one bank. when a tiger is following you, you can run much faster. >> you are asia's richest man. are you still in your mind an entrepreneur? >> i never think i am the richest man. i don't spend money. i don't have time to spend money. people say you can spend money better than the other guys. how much money can you spend in your life? >> coming up, alibaba broadens its scope investing heavily in southeast asia as well as brick-and-mortar under its new retail concoction. and jack ma sizes up one of his chief competitors. >> he did not have experience at globalization, not like us. ♪ ♪ >> having conquered e-commerce, alibaba is broadening its ecosystem by investing in cloud computing, logistics, digital entertainment, and even brick-and-mortar retailing through its supermarkets as well as the cashless and cashier-less convenience stores. it begs the question, is alibaba moving away from its l

you do not have to buy a bank and change one bank that you push changing them, when a tiger is followingcan much money faster than your friend. ma speaking with stephen engle earlier and find more on that on a half hour program, alibaba: the global disruptor tonight 5:30 p.m. in new york and 6:30 p.m. in hong kong. london, hundreds of people searching for whoever is behind a terrorist attack on a subway train at rush hour. people were injured when a homemade bomb went off and some had burns and a number were hurt in the stampede that followed the last. the small fire in a white bucket is shown by pictures and sky news says the device probably failed to completely detonate and the attack took place in the passings green underground station. we will keep you updated. this is bloomberg. ♪ ♪ mark: live from london, i am a mark barton with the european close a matter of minutes away. six minutes away. vonnie: live from new york, miami -- i am vonnie quinn. trade ins, they stockholm, sweden, the stock higher, let's talk about why. we have abigail doolittle, august sales missed, why is the stoc

bank operations. you saw moving operations closer to clients and changing the legal framework. e big issue is whether -- deutsche bank and others have -- will he continue to run on a branch like operating framework in the u.k. with a headquarter of that european operations and fractured? -- in frankfurt? , what is yourd biggest worry? axel: what keeps me awake at night is geopolitical risk. syria, theth korea, whole ukraine issue, those are issues that could come to the four and have a big market impact. mark: thanks for joining us. coming up next, former nato 11:00 a.m.eneral, new york time. mark: great stuff -- vonnie: great stuff, mark. exclusive interview with harvey schwartz, goldman sachs co-ident and co-ceo -- as coo. here's a look at apple shares since the very first iphone was unveiled 10 years ago. this is bloomberg. ♪ vonnie: i'm vonnie quinn, along with mark barton, who is in switzerland today. it is time for futures in focus. of the dollar, edging higher although it is losing momentum today as sterling stages a rally. refineries in the u.s. begin to come back online

bank, michael. michael: how long does this policy path last? if conditions don't changeignificantly, they will raise rates. 2018 is going to see a whole new fed. she said she hopes the president will start appointing people. that will change the outlook and the way they make policy. there isn't a real long-term path. you should always have the last question of the press conference. killer. ira jersey. ira: we need to wait for the treasury department. that will be the next thing. how will a deal with the fed runoff? carl: we need to tighten policy. you see in the spread of the dots a huge variance over the next several years. not a strong consensus. scarlet: we will see how that shakes out. ira riccadonna nad i -- and jersey. michael mckeen. --michael mckee. tom: i have been up for 12 hours. ourlet: that doesn't for special coverage of the 12 decision. coming up, a power panel from our global business forum. -- that doesn't for our special coverage of the fed decision. this is bloomberg. ♪ ♪ >> u.s. stocks closing mixed on that day has the dollar climbs. joe: if you are t

things were going on during that time, and the transition from free banking to a central bank, there was a lot of change, and so free banks located in all the different states was not -- were not suitable for a national economy. just as free banks today should be global banks rather than banks -- restrict, confined to pick -- specific states, like medical insurance is confined to specific states. it doesn't work very well when you break up your market into 50 segments. >> host: so back in the free banking days -- that means basically anybody could print their own currency? >> guest: yeah. >> host: competition judged its worth? >> guest: yes. you can good back. we now increase -- >> host: went around with the internet. >> guest: increasingly we now have an internet after knew for new growth globally, and global internet really needs a global money, and that is what the digital age is supplying. various digital forms of gold that ultimately are rooted in gold, and accompanied by a black chain that is an immutable database that means you can permanently record all the transactions transactions and make the

this don't go to my letters to no good today nothing ever changed you know the banks pay you money and so watch the language of the bank money. speaking the truth global news that matters w. made for mines. g w true diversity. where the world of science is at home in many languages. on the programming go on there it will be. there with us our innovations magazine for. every week and always looking to the future fund d w dot com science and research for asia. a very warm welcome to focus on europe i'm michelle henery and.

we have been talking about climate change, the world bank is sounding the alarm over the cost of climatehange. correspondent: that is right. and they are especially worried about one of the most beautiful parts of the world, the pacific islands which cannot tackle climate change alone. that is where it is going to hit the hardest. those tiny countries will need international aid in a big way. leaders have been meeting to discuss ways of keeping communities of floats -- afloat. this little spec is one of the many places that could go under. correspondent: the small island nation of care abbas could be one of the first to disappear from the map. the world bank reports says even in the best case scenario with oceans rising 40 centimeters by the end of the century, it poses economic problems for the pacific islands. building seawalls to protect the coastlines will take major investment, which these countries cannot afford. many residents have already had to flee the outlying islands. now they live in cramped accommodations on the main island, under the most. basic conditions. here climate ch

see the safe havens are performing fairly well. .ood in stables up why .5% utilities are little changed. bankslining, especially as are my makes its way towards the u.s. coastline. from new york , this is bloomberg. ♪ julia: this is "bloomberg markets." i am julia chatterley. scarlet: and i am scarlet fu. we're going to focus on financials. thank you. we're looking at financials because they are the biggest down mover in the s&p 500 on a pretty rough day for the equity markets. let's look at intraday numbers, down about .5% on the financials select spdr -- sorry, down about pretty big drop here today. insurers are losing and some of the banks are losing, as well. about-year yield down nine basis points, getting close to about 2.1 percent, so lows in the bond market as investors look for safety. that is not boding well for banks stocks. to give you perspective for some of the big financial companies, goldman at the top, down a little bit over 3%. some pretty big losses on one of the sectors we have been watching carefully since the thetion, the better part of last year as banks react to politic

what do you think is behind these attempts to have how the bank operates changed? l, there are two things we have to take into account. earth, globally -- first, globally a conversation about the role of central banks. south africans are asking questions about the role of the central banks, is neither here nor there. those conversations take place everywhere else in the world, in the u.s. or in the u.k. the essence of the conference i am attending has to do with asking questions about the role of central banks and the independence of central banks. and how the independence of central banks have served society. the problem with the south african discourse on the central bank is that it is based on rhetoric and populism, rather than looking at the aspects. as a central bank, we will continue to engage with those. we did not anticipate the question about the change of the mandate of the central banks will come from an institution of the public protector. that took us by surprise. we had to push back and go to the cause and thanks to the functioning legal system in sout

managers to go to day nothing to change you know the banks when you try and so was the language of the bank money. speaking the truth global news that matters d.w. made for minds. freedom of expression. a value that always has to be defended and new. all over the world. art of freedom freedom of art. a multimedia project about artists and their right to express their views freely. d w dot com to freedom. the president. assigns a sweeping changes to france's complex labor market the controversial reforms aim to boost the country's ailing economy but trade unions warn they will take the country back to the nineteenth century. also coming up only three biggest left in the race for abolition the bankrupt carrier is in talks with easyjet and commodore . and apple's new i phone eight launches today but two users give it a lesson in susie a stick wellcome and with previous debuts. welcome to the business and we're starting with this news ride sharing service has lost its operating license in london the transport regulator has decided that it is quote not fit and proper in public safety and se

banks in sixty minutes on d. w. . is going to have top managers to not go to day nothing would change you know the banks create your own mind. and so was the language of the banking money. speaking the truth global news that matters w. made for mines. crime fighters the new season of radio crime thrillers begins. in. motion domestic violence cyber crime and human trafficking for investigative cases that will keep you on your toes crime fighters stories at the base idea ever so every young person needs to listen to crime fighter and share tell a friend tell a friend to a friend. fighters don't miss it. a very warm welcome to focus on europe i'm michelle henery one of the biggest talked .

i know just to not go today nothing would change you know the banks pay you mind and so was the language of a banking money. speaking the truth global news that matters w. made for mines she's long been a symbol of hope in syria i try to help people. assad does she stand for change or the false facade of her husband's rule of terror. she believes in my projection that that they are saving syria. assad the beautiful face of the dictatorship starting october first on d w. all of germany is in the throes of election fever all of germany. here on this one of the ten high like islands in the north sea people get more worked up about runaway rams elections the german. parliament the bundestag are this sunday parties are not important here between the mud flats and the meadows here the issues are different from those in the rest of the country. but it. will. no. longer this is an easy to reach or even to see here in the middle of our picture that i like rises from the north sea barely. it's just a few meters above sea level so how like is not a normal island there are no dunes or dykes the sea

i know just to not go today nothing would change you know the banks pay fines and so was the leg. to the bank. speaking the truth global news that matters d. w. made for mines. it's all about the moments that lie before. it's all about the stories inside. it's all about george chance to discover the world from different perspectives. join us and be inspired by distinctive instagram others at g.w. stories the topic each week on instagram. she's long been a symbol of hope in syria i try to help people. aside does she stand for change and work the phones facade of her husband's room of terrorists. she believes in what projection that that they are saving syria. the beautiful face of the dictatorship starting october first on d w. german chancellor angela merkel has become a tough task of trying to build a government after a conservative bloc place first in sunday's general election the center left social democrats say they oppose a continuation of the current coalition we really are.

hearing from many economists is that it will definitely throw the economy almost -- that will not change. bank of america is saying the hearty damage, likely, will be at 108 billion dollars, close to what was originally thought. moody's is saying the irma damage is anywhere from $49 billion to up to $92 billion. that is still a sizable member, but again, fairly big production from we thought, dodging a cannon. that is the apt analogy here. that man is or why the market is once again -- anchor: just a huge sigh of relief. ? all right. thank you so much. more on the north korean sanctions. they are going to cut deep. we will get reaction from hoover institution research in a few moments. haidi: our next guest expects donald trump to put -- who share his deregulation and balls. stein joins us in just a moment. ♪ betty: we are counting down to asia's first major market open. we have not really seen this in a a while, right? haidi: possibly showing a higher gains in thee huge markets. the s&p at-bat record. this is "daybreak asia, and i am betty liu in new york." haidi: i am haidi lun in sydney. we

we onlysecurity saying see the temporary impact from such a change for banking shares, given the positive earnings outlook for the space in the third quarter. before i go, i want to take a last look at what is going on. the hang seng has flipped over ae past few days, now testing closely watched technical level, the 50 day moving average. you can see that on g #btv 454. when at last fell below this level, it's all for two days before seeing a rebound. shanghai security says that should the index failed to hold the moving average, we could anticipate further losses for this index. keep in mind we have chinese markets close all week. some of the mainland inflows when it comes to hong kong market, investors might not be as bullish given that process. rishaad: sophie kamaruddin there. the affordable health care act is proving to be a rather hard to crack.nut paul allen. paul: the latest bill to repeal and replace much of obamacare is that after susan collins became the third gop senator to say she would for against it. that is despite weeks to the so-called graham cassidy bill, funneling mone

with it at all and the tips were terrible and i would take all loose change, it was all loose change and bankstore to the diner and trade a pocket full of change and get a lesson from jerry and he was amazing teacher and i started playing playing playing playing in blues band. >> if you had one up here, i will play it. >> if someone has a harp. >> i'm always going to carry one from now on. you grew sebastiÁn -- >> there is one. >> save it till the q&a. we don't want to start that away. you're right, you grew up, your father was immigrant, your mom was related to the grim family of grim's fairy tales but you write in here, i found this fascinating, i hardly ever been west of the hudson river after you graduate in fall of '86 and in my mind what waited for me in dakota but the real me as well, elaborate? what do you mean? >> i grew up in affluent suburb. i wasn't tested in any physical way. i think a situation like that, test people psychologically. i don't know, if it's a male thing or not, maybe not but as a young man felt like i hadn't proved myself, i hadn't earned my eye denty and i needed

the fact is even as our own central bank begins to tighten, that is not the policy anywhere else on earth and money flows very easily. >> it's changing that the story we went from dovish central banks all over the world, we were starting to tighten a little bit, now it seems like everyone is falling in line. >> the narrative has changed think about where we were to start the year, two six five and consensus was three and a quarter. here we are in october debating about two two, two three that's the big subject nothing's happening. >> carter, you say the rates are about to back up. >> i think so. i think they're going to come off here we've just moved up pretty rapidly. let's draw some lines. all right. you see the chart. ten-year yield one thing we could do is the following. there's a pretty well-defined channel and it is within this channel all year in fact, there's a lot of symmetry between the order of magnitude and the duration of these counter trend move starters, these are all the moves we had, one, two, three, four, five look how similar 25 basis points, 32, 26, 39, 34 what about duration? number of sessions sessions for two w

managers to not go to day nothing to change you know the banks pay huge fines. and so watch the language of a bank with the money. this is. the. i don't think the blowers have had any impact on morality in the financial system the system is much stronger than they are. trying to make all of you understand that to me even a big lie. is worth whatever the price of. get ready for some weekend action. very. big every match day weekend for the bundesliga saturdays and sundays. w four playing with. the. dog. girl max democracy. places of all the political stage as photo art. origins of our journey into the hometowns of the candidates for chancellor. stagings of our photographers and their takes on politicians. you're romex in thirty minutes on w. climate change. waste. pollution. isn't it time for good news eco africa people and projects that are changing the environment for the better it's up to us to make a difference let's inspire other. people would. be environment magazine. long d.w. . germany besides the german no action but you will have why but special coverag

banks. for safety reasons, officials changed the timing of the surfing competition in the outer banks. it had been scheduled and changed because the surf is so dangerou dangerous. >>> then there's hurricane maria in the caribbean. you're looking at video of the storm hitting the island nation of dominica as a category 5 last night. now a category 4. keith jones spoke to people bracing for maria's arrival in puerto rico. they're stocking up and hunkering down. tens of thousands of people on the island still don't have power or running water after hurricane irma glanced the island in north philadelphia last night. a donation drive collected relief dollars for a possible direct hit. >> i am nervous for my family over there. everyone is in preparation. both sides. my mother's side, father's side. everyone is over there and preparing for the worst. >> maria could be the worst storm to hit puerto rico since the 1930s. >>> with hurricane mary a bearing down on -- maria bearing down on puerto rico, a celebration of heritage took on added meaning yesterday. >> we understand the desire -- >> peop

managers to not go to day nothing to change you know the banks pay huge fines. and so watch the language of a bank with the money. this is. the fees. i don't think the whistle blowers have had any impact on morality in the financial system the system is much stronger than they are. trying to make all of you understand that to me even a big lie. is worth whatever the price of. democracy day. no free art without a free society. how much painting is there in germany. how much sooner and this germany dance from north to south from it to five we ask a country about its heart. in thirty minutes on. democracy day. a reporter. with no charges filed. has become a symbol of press freedom under fire but the turkish president he's a political. power his friends and family are trying to secure his release. in ninety minutes double. germany decides the german no action but you will have y. but special coverage i go have all the numbers as they come in followed by in-depth analysis who will do when is being done to the losers and why is it so in poll cash and germany decides t

managers to not go to day nothing to change you know the banks pay huge fines. and so watch the language of a bank with the money. this is. the fees. i don't think the blowers have had any impact on morality in the financial system the system is much stronger than they are. trying to make all of you understand that to me even a big lie. is worth whatever the price of. democracy day. a reporter has been in solitary confinement. with no charges filed. has become a symbol of press freedom under fire but the turkish president he's a political bargaining chip. how his friends and family are trying to secure his release. germany decides the german action will have special coverage. all the numbers as they come in followed by analysis who will do when to speak to the losers and why is it so important i staggered germany decides a german election september twenty fourth starting at fifteen hundred u.t.c. right here on the dole. yeah i do my story and i think one day this war will be considered cruel and unjust war but if you also should and certainly all citizens of ukr

the site and your data can be used or resold.if you don't read the fine print when opening or changing a bankccount -- you may not know how much you really owe. last year -- the country's biggest banks racked in more than 6-point-4 billion dollars. just for atm and overdraft fees.it can be hard to avoid such charges -- because they aren't easy to find.so the next time -- spend some time reading that fine print.it may affect what you do and even save you some money in the future.for consumer watch -- i'm mary moloney ♪ hey grandpa. hey, kid. really good to see you. you too. you tell grandma you were going fishing again? maybe. (vo) the best things in life keep going. that's why i got a subaru, too. introducing the all-new crosstrek. love is out there. find it in a subaru crosstrek. - previously on law and order: special victims unit... - bachelor party gone wrong. victim's an unidentified female. - did you know she was 16? - may i ask what you were doing there when you discovered the body? - i'm an escort. i get paid to go to parties. - who is she working for? - she's one of delia wilson's top

they are also proposing a change to the reserve bank in new zealand act, to have an initial target of the rbmz will be less likely to raise interest rates so they can boost growth overall. —— rbnz. they will support the amount of investment going on in the social pa rt of investment going on in the social part of the economy. that was tony joining us earlierfrom sydney. the markets. the dow jones joining us earlierfrom sydney. the markets. the dowjones industrial average street of seven straight records ended overnight, falling by 52 point. —— streak. the nasdaq also losing ground. analysts cite the us central bank tightening monetary policy for that. i am rico hizon. sport today is coming up next. the top stories this hour: president trump steps up the pressure on north korea, with more sanctions against companies who trade with pyongyang. emergency workers at a primary school in mexico city have called off their search for children thought to have been trapped. officials said they were still trying to free one adult from the rubble. the boss of ryanair, michael 0'leary, has admitted

thecentral bank of philippines also meets, no change expected. ected to cut rates, so there is a lot going on among asian central banks that could hit asian bond markets. >> thank you so much. let's stay with asia and asian credit markets. they have been on a tear as an phon investors hunt for higher yield here it investors are not seeing the reward for the risk they are taking. joining us now is the head of the asia credit sector ithat exactly is that you are seeing that might change the game? have become used to easy money. that is how they have been performing for asian markets and global credit markets in general. it has become more localized, the local investor base has become predominant. it has been driving valuations tighter, so the risk at this point is that once the global central banks start to unwind and we hear numbers of $2 trillion over the next year and a half. nothing of the scale has been tried before, so how the markets ready for the given where valuations are right now? we think the risk have been awarded is not justified and w

as long as the top managers do not go today nothing would change you know the banks pay huge fines and so was the language of the bank money. speaking the truth.

is going to have the managers do no good today nothing to change you know the banks pay you money and so was the language of the bank money. speaking the truth global news that matters d.w. made for mines. going to the big w. we speak your language our spanish program on you tube. always willing someone doesn't miss you like in boito always close to the action but i'm up by the local folk ever wondered what to think if it is that up to the minute news and opinion of the background to political developments in the d.w. we bring you more of the oil. at. it could be one of the biggest nudges in the steel industry germany's to cope and india's tata have agreed to enter a joint venture the move will likely cost four thousand jobs we talk to the c f o f to scope about the future of his company. also coming up markets rally as investors across the globe away to the u.s. federal reserve's rates. decision. welcome to your business so mega is in the making german steel company to cope and its indian rival tata have agreed to consolidate their european operations negotiations are expected to con

banking and shopping. >> it is important to keep in mind that could go data bases have been hacked. students can take steps to limit the damage from data breaches. >> change passwords and check bank statements and credit card for unauthorized charges. also, charge with the credit reporting companies for unexplained debt. if anyone has tried to open up credit in your student's if you think your identity has been stolen, consider putting a te ten player freeze. it is a painful you have to pay $10 even. >> it is a process. >> thank you. >>> we have the kind of warmth that will have you hitting the beach of the temperatures in san francisco, 81. even places like half moon bay, 81 degrees. just dip your feet in that water to cool off a little bit. no matter where you look, it is warm. 87 in san francisco of the temperatures in the low 90s as well. so wall to wall sunshine. and the temperatures are well above average. temperatures had soared in places like oakland and napa of the will up 13 degrees. half moon bay, 14 degrees one of the reasons is this wind direction out of the north northeast. the warm dry air to push all the way to the coast. that's what is br

managers to not go today nothing would change you know the banks pay huge fines. and so watch the language of a bank with the money. this is. the. i don't think the whistle blowers have had any impact on morality and the financial system the system is much stronger than they are. trying to make all of you understand that to me even a big lie. is worth whatever the price of. democracy day. on the fourteenth of august the first. this year some parties are campaigning for the nineteenth time. a lot of changed going remains the same. how to you know with the electorate. for me to election campaign in fifteen minutes. hash tag germany decides. the day before the general election on g w a day dedicated to democracy. from its dramatic beginnings in germany until the present day how is the nation of culture fearing election year. where do the german people see their place in europe and the world's democracy day today on t.w. . entered the conflict zone confronting the powerful i test the convictions and values of the powerful club fronting them with sex i will draw all th

. >>> a bank robber changes up his appearance each time he holds up a bank.. he robbed the bank on arch street around noon. showed the teller a thrive akni demanded money. the fbi says he's responsible for four other robberies since july. i wears different hats, sometimes he has facial hair. sometimes he's clean shaven like yesterday. this is the third rob rbery thi month. >>> a barrage of bullets at the jersey shore. three people were shot in mays landing. the shooting happened in hamilton township. one vick contintim was in bad s flown to the hospital. so far no arrests. >>> deadly church shooting. we're hearing from a woman who watched a gunman go on a shooting spree after a service. plus this. ♪ a message of peace and unity. the stars come out to support a city that recently turned into a social justice battleground. >>> and temperature ups and downs. we've had the ups, but what about the downs? we'll be going from jet skis and water-skiing to apple picking next weekend. your first alert ten-day forecast coming up. gus! nice job! gus! heyyy! looking good!

changes coming their way next year. this is bloomberg. ♪ nejra: welcome back to bloomberg markets, rules and returns. we caught up with bankica ceo with an exclusive interview. one of the topics was the changing regulatory landscape and how prepared bank of america is for the challenges it will bring. >> there are important things. when >> what is important to you and the company? >> rules that are going on that now have been pulled back. then there are rules that have to be changed and then there is legislation. across those, what the secretary did, with input from investors and analysts and companies and professors, here is a set of principles we have to fix. the key ones for us our capital. liquidity requirements on technical rules. and allowing more access to you capital account when we have $20 billion excess after a stress test, let us go out and put that back into markets so someone else can use the cap because we don't need it to grow. capital, liquidity and things would like that. the other people it might be something else. >> trading oversight? >> volcker's too complex. you why everyone us admission. -- by every

the site and your data can be used or resold.if you don't read the fine print when opening or changing a bank-- you may not know how much you really owe. last year -- the country's biggest banks racked in more than 6-point-4 billion dollars. just for atm and overdraft fees.it can be hard to avoid such charges -- because they aren't easy to find.so the next time -- spend some time reading that fine print.it may affect what you do and even save you some money in the future.for consumer watch -- i'm mary moloney during the national during the protests a weekend of mary moloneywatch -- i'm mary moloney a weekend of protests during the national anthem in the nfl due to president trump's comments culminated tonight in arizonathe dallas cowboys whose owner jerry jones said last year he would not employ a player who knelt during the anthem showed their solidarity by kneeling before the anthem with jones in the middle and kneeling with his playersthey then stood up and held hands while the anthem was being sung 4th quarter/ 14-14 tiedak prescott 37-yard touchdown pass to brice butler 21-14 cowboys(pre

my messages do not go today nothing will ever change you know the banks mean huge fines and so was the language of a banking money. speaking the truth.

and banks changed their compliance procedures because of that bill. >> shout korea has announced they plan to participate in decapitation exercises. this is connective not financial. and i guess i'm curious for the panel what your assessment of north korea's reaction to the rhetoric if not in fact the deeds. >> i actually a year ago the south korean administer of defensive the previous administration announced they have a special forces unit whose mission is decapitation. they have surface to surface missiles. they demonstrated an attack with practice attack on with using their f 15 k. so they had announced they would conduct such an attack if they detected signs that north korea was about to attack. he responded we'll preempt your preemption. my concern is the risk of miscalculation by korea or the u.s. and we stumble across a red line into some kind of connectic military action. on difficult to disearn intelligence. >> that's. that's accurate, personally. i'm curious -- at some point doesn't this make having a nuclear deterrent given their mass ily weaker military stature, a rationa

no change expected from the central bank at its next policy meeting when it comes out later this monthwe do have the rba decision also due out later this morning. no change expected from that central bank. is going to be interesting to see what the rba may have to say about china and the commodity outlook, given that iron ore has advanced since the last policy decision. ahead of that, we are seeing aussie stocks slide, losing ground for a second day, led by utilities and energy shares. i want to highlight was going on with financials as well. macquarrie says the party is over for australian banks as mortgage profitability is under pressure. miners are eking gains, about a 10th of a percent up, tracking gains in some base metals like copper today. since thending gains height of september 2014. you can see some money piling in. hedge funds have added to their net loss, which is now at a record. you can see in the green columns here on the chart. laggingemand has been supply over the past nine months. watch out for the eventual moment that investors may take profits, not because they love

alix: what i was getting at is other banks have made those changes.y, in particular, of course, because they trumped you guys in terms of trading. the question becomes, are they also better at navigating that new environment, and are they taking on more risk, where may be you aren't? >> morgan stanley is a great firm. i don't have any insight into what they are doing. i can only talk about what we are doing. in fic, if you step back, and we talked about this at the presentation, the industry went through dramatic growth from 2005 to 2009. in 2009, our market share peaked at 19%. industry revenues were cut in half. our response to that decline was two things. one, we focused on our clients and maintained presence. but we also took resources out of fixed income, at capital, -- cut capital close to 50%. we reduced the balance sheet. we were able to do that during that decline. what that enabled us to do is reallocate capital across the firm, but we also returned $35 billion to shareholders in the past five years. that is 40% of our market cap. what we cr

alix: what i was getting at is other banks have made those changes.y, in particular, of course, because they trumped you guys in terms of trading. the question becomes, are they also better at navigating that new environment, and are they taking on more risk, where may be you aren't? >> morgan stanley is a great firm. i don't have any insight into what they are doing. i can only talk about what we are doing. in fic, if you step back, and we talked about this at the presentation, the industry went through dramatic growth from 2005 to 2009. in 2009, our market share peaked at 19%. industry revenues were cut in half. our response to that decline was two things. one, we focused on our clients and maintained presence. but we also took resources out of fixed income, at capital, -- cut capital close to 50%. we reduced the balance sheet. we were able to do that during that decline. what that enabled us to do is reallocate capital across the firm, but we also returned $35 billion to shareholders in the past five years. that is 40% of our market cap. what we cr

could do to china, possibly changing the bank of china because they violated the patriot act by doing this and putting pressure on the bank of china. what has the reaction been there possibly to pressure from the united states. are they taking it seriously? diplomatic conversations has not worked. >> i only picked up half of your question there, but i think you were asking about the questions whether sanctions could be affected. china has moved to implement more sanctions against north korea in recent months. so the chinese would say they are doing a great deal and others say they haven't done enough. the economic pressure hasn't been followed through as could be partly because of china. again, the chinese view is that the idea of a collapse of the north korean state is incomprehensible for them. they view it as a huge refugee crisis for the chinese. view it to leading down a path that might see a u.s. take-over of north korea. the chinese don't like that idea. they do not see, while they do see north korea's nuclear program as a crisis but not perhaps the crisis that is viewed in was

a serial bank robber changes his appearance every time he makes a heist. vestigators warn that he is armed and dangerous. the latest happened at the park bank on arch street on saturday. the man showed the teller a knife and demanded money. the fbi says he's responsible for four other bank robberies in philadelphia since july. he wears different hats and switches up his facial hair. so far he's pet two banks twice. the moore bank on arch street and abacus federal savings on north 10th. >>> today marked 60 years since nine black students in little rock, arkansas, walked into an all-white school ending legal segregation of schools in the united states. the same school will "huffington post" a celebration today remember -- the same school will have a celebration today remembering when the little rock nine were ushered in by the national guards in 1957. former president bill clinton will give the keynote ceremony. events are r scheduled throughout the little rock community through the rest of the year. >>> 5:16. 70 degrees. we have entered the season of pumpkin

it could induce them to change roots, bank accounts and procedures to less effective means. even legitimate businesses will become more fearful of being entangled in illicit activity and more fully implement required due diligence measures. cumulatively these efforts reduce the foreign revenue services, increase strains on the regime and internal pressure on the regime. sanctions enforcement must be flexible, innovative and adaptive to the changing tactics of the target. as north korea, when they shifted to chinese brokers, they should've begun including them on sanctions list. to raise it they must go on to have a full-court press to isolate north korea and introduce tremors. for too long success of the u.s. a ministration says you sanctions as a calibrated response to north korean provocations, rather than a law-enforcement measure defending the u.s. financial system. the u.s. should target any entity suspected of aiding or abetting north korea missile and conventional arms development, criminal activities, money laundering or the importance of luxury goods. the u.s. shoul

i am thinking of some relief in the administrative issues and costs of the banks rather than changingegulations per se. you don't need to notify the supervisor about each and every single data and high-frequency as much as large banks do. david: i'm not going to ask about interest rate setting, but in general, are smaller banks under pressure in germany because you have this low, even negative, interest rate situation? >> actually, they are. if you look to the german banking sector, 75%, three quarters of all earnings are interest-rate sensitive coming from the interest rate margin, and only 25% come from income. if you have that sort of business model prevailing in germany, you can imagine this very low interest rate environment is causing a lot of pressure on margins. having said that, this did not start with ecb policies. since the 1980's, we have compression of interest rate margins and have seen interest rates going down, so banks had a lot of time to prepare. our business models are geared towards interest rate income, so you are more heavily affected by a low interest rate envi

investment banking search to a record for jeffries. that is really a changet that bank because it previously had been known more for trading and less for investment banking. the thinking here is because many of the other banks have already made comments on their trading revenue that this raises hope that they too will at least partially make up for that shortfall in an increase in investment banking fees. we will watch that as they start to report earnings about two weeks from now. also as we await the federal reserve commentary and statement tomorrow, we have been watching financial conditions here. financial conditions as the white line. when it goes up, it is showing an easing of financial conditions. this is as we have seen rates increase. this is a bit of an unusual trend here and something we will continue to watch articulate as the balance sheet unwinds, the presumed balance sheet unwinds begins. shery: julie hyman, thank you . vonnie: republican senate leaders are making a last-ditch effort to repeal obamacare. will they have enough to pass the bill?

. >>> federal investigators say a serial bank robber changes his appearance every time he pulls off a heist. the robber is on the look, and investigators warn that he is armed and dangerous. the latest robbery happened at the park bank on arch street saturday. the man showed the teller a knife, demanded money. the fbi says he's responsible for four other bank robberies in philadelphia since july. he wears different hats during the heist. also switches up his facial hair. here's a look at the location so far -- two banks twice. the moore bank on arch street and abacus federal savings on north 10th. saturday's robbery is the third this month. >>> new details about the latest republican plan to overhaul america's health care system. the authors of the graham-cassidy bill made changes in an apparent bid to win the support of one wavering senator. the version provides more benefits to alaska, home of senator lisa murkowski who so far has not said whether she will support the legislation. two other gop senators have already said they will not support the bill. republicans can only afford to

and he played down apparent differences between the fed and mrg on the critical issue of changing the post crisis bank regulations. >> i had breakfast with fed chair yellen this mornin meet o have previous treasury including regulation and one of the areas we are focused on with the fed is ficking the e treasury put out a report on what we believe are regulatory changes. i would describe about 70 or 80% of them we can work with the regulatoa g group on and the balance we're going to need col for. >> in other highlights, the this shall treasury secretary said the u.s. wh, which has not changed, but he said that aid for harvey on the spending could have an impact on the debt ceiling. he added he had not considered whether to go ahead with animation plan to replace andrew jackson on the $20 bill with the famed abolitionist, harriet tubman. he seemed of a market determined dollar and didn't talk a number. he long-term, a strong dollar is the reflection of market sentiment and a underlying economy, not that a washin dollar makes the country >> up next, why activists investors might be keeping a watchful ey