from a let's catch up with our markets correspondent to chelsea delaney who is at daughter bank in frankfurt there following that press conference for us chelsea what more did the end saving had to say. i'm not sure if chelsea can hear me. ok yes we can hear you now ok so we were just listening to the sound system saving saying that the operational profit was actually quite impressive did you have any sing more to say. despite one of the one of the biggest losses and makes history they're putting a very very positive spend on these results today. announced that they were going to embark on this massive restructuring and july they were quite upfront with the fact that it was going to be expensive they estimated the cost over 7b7b euros they're saying today that they're about 70 percent through those costs are they have already absorbed significant portion of the cost going forward and they're also on track to continue reducing cost over the next few years at the levels that they had predicted in terms of the. financial performance of some of their key key businesses there they are struggling

if more on this let's go to our financial correspondent in frankfurt chelsea delaney chelsea does this mean that investors have finally put aside these conflicts or this conflict between the u.s. and iran. absolutely and i think investors really began to look past these risks yesterday as it was it seemed that that wouldn't escalate further and that was really confirmed for a lot of investors by president trump's announcement yesterday so i think investors now are they don't believe that it's this is the absolute end of a potential conflict between iran and the u.s. they are aware that this is a decades long dispute and that this could flare up it really any moment but this is really going to cause them to change their investment strategy and now i think investors are really going to be focusing on china and the u.s. trade deal and things like economic data and that's been really supportive 1st for global stocks or at the u.s. china trade signing to for next week chelsea delaney in frankfurt thank you. just under a year ago france and germany created a special investment vehicle to shi

restructuring plan for the loss of a more let's bring in our market correspondent in frankfurt chelsea delaney and chelsea here you are so much reporting they are 5700000000 loss blaming restructuring how good an excuse is that. it's not a total surprise that the torture because reporting in fact last year at the size of this loss is a look a bit of a surprise investors have been expecting something closer to $5000000000.00 euro so almost another 1000000000 euro and a loss is quite a big miss they are blaming restructuring charges and they do have a lot of restructuring charges torture bank has been since the summer really trying to reshape their business really they've. they're coming out of several years of losses as he said and they're really trying to scale back their their global and ambitions their quitting sitting equities trading their paring back the investment bank and all of that is very expensive their goal is to cut about 18000 jobs over the next few years and they've only got about 4000 so far according to this latest report so they really have a lot on their plate i think invest

i want to bring in our market correspondent chelsea delaney is standing by for us in frankfurt chelsea germany's dax index took a hit today and that was even before it was confirmation of the 1st coronavirus case here in germany how serious is it. i think for investors the real concern here is that there still is a lot that we don't know about the coronavirus how it spreads how long it incubates sort of the interactions between people and how that helps it spread so i think there's a lot of fear because there isn't there's a lot of uncertainty surrounding the virus itself and that makes it hard to sort of calculate the potential economic fallout but i think at this point it is clear to investors that there is going to be economic fallout you mentioned the travel sector lots of trips being canceled airlines struggling with having to refund cancellation fees and things like that but the area where this virus is has been concentrated though the province it's called the chicago of china it's really a very important industrial for china and for a lot of international companies so it's a big

what's it like on this side of the channel let's cross over to our financial market correspondent chelsea delaney who is standing by for us and frank fidget chelsea so are german our european companies prepared for brics it. despite the fact that broke that is 2 days away it's still very difficult for companies here in germany in europe to make any sort of long term preparations for exit because they don't know what the relationship between the between the e.u. and the u.k. is going to be once the u.k. leaves the e.u. on friday they're going to be in a transition period for 11 months and in that period that's when they're really going to start hammering out these really difficult issues about trading relationships about tariffs quotas and all of these things that are really going to define the relationships between german and german businesses you kate this isn't really the trading relationship there so i think intil until businesses have a clear sense of what the trading relationship is going to be like what kind of agreements they're able to come to if they're able to come to an agreement withi

while in an exclusive interview for correspondent chelsea delaney asked. if he's happy with the way things are going. well in in the core businesses and these are those businesses where we are not only irrelevant but leading and which are the future cornerstones of torture brink we have done good progress and in all business divisions of course we're suffering from the low interest rate environment in particular in europe but therefore we have grown parts whether it's on the loan side whether it's in the investment funds whether it's in the debt capital markets we were very successful and hence i would say from an operational point of view from an operating performance point of view we see the growth we have seen the momentum in particular after we announce the restructuring and hence we are satisfied with the development. some people have said this restructuring is sort of a retrenchment banks global ambitions do you see it as that you know i don't i think this restructuring was to focus on that what we can do best and where we are leading and you have se

some of the stories regarding these plane companies these big plane companies let's go now to chelsea delaney she's our financial correspondent in frankfurt chelsea regarding these memos from boeing these are old memos at the same time the pretty shocking how serious is the release for boeing it certainly is not really helping boeing's case right now boeing is really trying to get the f.a.a. and the u.s. airline regulator to approve the 737 max for to fly again and and these. boeing employees are making fun of f.a.a. regulators they're talking about sort of tricking them into approving the plane so i think this certainly is going to increase the tensions between the regulator and boeing which is one of the reasons why boeing had to let go of its c.e.o. late last year the f.a.a. for its part has said that this isn't really a this doesn't really shed new light on to on to new safety issues with boeing but i think this really points to a culture of. sort of thing lax about safety and sort of trying to get around regulators and that's really not going to going to help boeing you know convince reg

shares across asia down in early trading let's go now to our financial correspondent in frankfurt chelsea delaney chelsea how seriously are markets taking this attack financial markets are having a fairly moderate response to these attacks quite surprisingly there wasn't an initial. spike in oil prices oil was about 5 percent and global equities really sold off but that's really been moderated throughout the morning here in here up and now stocks are down just a little bit across the board one of the reasons for that investors say is that these 2 statements are from iran and one from the u.s. president treated overnight that all is well so far so good and they haven't.

let's go now to our financial correspondent in frankfurt chelsea delaney chelsea how seriously are markets taking this attack. financial markets are having a fairly moderate response to these attacks quite surprisingly there wasn't an initial. spike in oil prices oil was about 5 percent and global equities really sold off but that's really been moderated throughout the morning here in europe and now stocks are down just a little bit across the board one of the reasons for that investors say is these 2 statements are from iran and one from the u.s. president trying to treat it overnight that all is well so far so good and they haven't found any new u.s. casualties at this point and and iran's foreign minister has said that they don't want to escalate and they don't want to war so investors are hoping that this will really be the last military or attack as part of this chain of events and that they really settle this diplomatically going forward. until you get the sense that investors are eager to get past these tensions that they would rather see it as episode it instead of something more f

for more on this let's go to our financial correspondent in frankfurt chelsea delaney chelsea marketshave been gaining again as the shock wore off so quickly they're suffering more optimism in global markets today the dax here in frankfurt opened up about 0.8 percent it's really held up throughout the day one of the reasons for that is that simply there hasn't been any any real news from iran in particular they have you know about.

for more on this let's go to our financial correspondent in frankfurt chelsea delaney chelsea markets have been gaming again as the shock wore off so quickly they're suffering more optimism in global markets today the dax here in frankfurt opened up about 0.8 percent it's really held up throughout the day one of the reasons for that is that simply there hasn't been any any real news from iran in particular they have you know about to retaliate but they haven't taken any action and so markets have sort of moved on to economic news and company news which is really been driving stocks over the past several hours the other reason is really that investors have sort of come down on the a side that there is really going to be a war between iran and the u.s. so iran's economy has already been really devastated by u.s. sanctions and a lot of investors don't think that they really want to be entering a war with the u.s. right now so there is a lot of more optimism that they won't be heading towards a conflict that there still is a lot of. anxiety and markets even though it's on the backburner t

and let's check in now with our financial correspondent in frankfurt chelsea delaney and chelsea how is the outlook there in frankfurt. these tensions are certainly driving markets today that docks opened about one percent lower that's really steep and throughout the day it's down about 1.8 percent now euro stocks the broader and exit european stocks is also down about 1.2 percent that's adding to have you losses on friday as well it's investors are certainly concerned one of the big concerns for investors is what's going to happen with oil prices oil has risen about 5 percent since friday and that can be really painful if it continues for companies for airlines for consumers as well especially for big oil importers like china has already struggling with economic weakness so investors are certainly going to see wait to see what happens next with iran in the u.s. but this is definitely not remain a concern for investors. right you'll see the lady in frankfurt thank you. let's take a look at some of the other global business stories making news. japan's justice minister has vowed to st

let's bring in our financial correspondent in frankfurt chelsea delaney is the chelsea the markets gaining again has the shock worn off from these tensions. and i'm not sure if chelsea can hear me right now are you there. i guess i can hear you chelsea and i just looks like markets again again today. has the shock worn off from these tensions between the u.s. and iran. it's actually a brighter mood on markets here today in frankfurt the dax as you can see behind me it's about one percent. stocks are also up about 0.5 percent so investors are going back into every scare assets but messrs also remained quite cautious here as as. iran has threatened to. fight back there at their base that today that they're considering 13 different avenues for retaliation and one of the concerns remains if they will strike while infrastructure which could have really close repression so i think it's on the backburner today but it's definitely going to her man a concern for investors going forward. and shells image and earlier that falling car production in germany what's driving these numbers. there are reall

and i'm joined now by financial correspondent chelsea delaney in frankfurt so chelsea are investors finally trying to put these tensions aside and continue trading. they definitely seem to be here for the taxes about half a percent away from an all time high that's after the s.n.p. hit a record yesterday so investors are really definitely getting in on this relief rally as some analysts are sort of questioning if that's really appropriate at this point is this a sign of complacency just 36 hours ago we thought we were heading for the entire conflict and now stocks are at records again but a lot of investors say that they are you know cognizant that this could certainly flare up and it has in the past but they see a lot of reasons to be positive about stocks the u.s. and china are about a week away from signing a major trade deal. central bank policy remains really accommodative and the u.s. economy the chinese economy are all looking a little bit brighter these days so there's still a lot of reasons to be positive investors say. for a children's lanie with the latest from frankfurt thank yo

and for more on this let's bring in our financial correspondent in frankfurt chelsea delaney as a chelsea a lot of different factors there is there one overarching thing that's driving the slowdown in production or is this a mixture of everything. i think german carmakers can really blame the international environment this is really being driven by by a variety you mentioned a few of the factors one of of course is the slowdown associated with the trade war between china and the us china been a really important i don't market for a german car makers in recent recent years the economic slowdown there is certainly having an impact that has also had a very large negative impact on automakers here and there's also a lot of concern about the new an emission standards here in germany so the sort of the global slowdown is coming at a really bad time as these carmakers have to invest a lot and to new technologies. josie what does the slumping car industry in germany mean for the economy here well that car current history is obviously hugely important to the german economy accounts for about 20 pe

and let's check in on european markets now with chelsea delaney she joins us live from frankfurt the chelsea what are you seeing there after all this these tensions continuing over the weekend what's the news there frankfurt there's certainly a lot of anxiety to start the trading we've got here in frankfurt the docs just opened it's down about one percent that's adding to a loss of 1.3 percent on friday euro stocks the broader european and x. is down about 0.6 percent and futures in the u.s. are also pointing lower so it's looking like another day of a global selloff it's really going to depend on how this escalates or what happens next between iran and the u.s. for to see how this is really going to impact markets going forward but there's certainly a lot of concern about how how this will impact oil prices which are already up 5 percent since friday that could have a global impact and for investors they have really been hoping for a repeat of the big games of 2019 so this is definitely a bit of a blow. for the already chosen delay in frankfurt thank you. and for more on this i'm joi

for more let's bring in our financial market correspondent chelsea delaney was standing by for us in frankfurt see markets opened in europe doesn't look too good right now does it. now it's pretty. stocks across europe are down more than one percent here in frankfurt that dioxins down about 1.5 percent so these fears over the coronavirus and as you mentioned the global impact that could have are really weighing on on investor is there's a lot of concern about what it will mean for businesses to be to be shut down as the chinese government has the extended lunar new year so factories will be producing also people will be spending and this is an extremely important time for consumer industries for retail industries in china and across the world so there's a lot of concern about sort of the impact this will have as china takes these steps to quarantine to quarantine and stop the spread of the virus so while this. seems to overshadow a lot of market action what. to look out for in the course of the next few days. there's going to be a lot of news this week i think coronavirus especially

let's go now to our financial correspondent in frankfurt chelsea delaney chelsea how seriously are markets taking this attack. financial markets are having a fairly moderate response to these attacks quite surprisingly there wasn't an initial. spike in oil prices oil was about 5 percent and global equities really sold off but that's really been moderated throughout the morning here in europe and now stocks are down just a little bit across the board one of the reasons for that investors say is these 2 statements are from iran and one from the u.s. president trump tweeted overnight that all is well so far so good and they haven't found any u.s. casualties at this point and and iran's foreign minister said that they don't want to ask glacial and they don't want to war so and messages and hoping that this will really be the last military or attack as part of this chain of events and that they can really settle this diplomatically going forward. until you get the sense that investors are eager to get past these tensions and that they would rather see it as episode it instead of something more

let's go now to our financial correspondent in frankfurt chelsea delaney chelsea how seriously are markets taking this attack. financial markets are having a fairly moderate response to these attacks quite surprisingly there wasn't an initial. spike in oil prices oil was about 5 percent and global equities really sold off but that's really been moderated throughout the morning here in europe and now stocks are down just a little bit across the board one of the reasons for that investors say is these 2 statements are from iran and one from the u.s. president trump tweeted overnight that all is well so far so good and they haven't found any u.s. casualties at this point and and iran's foreign minister said that they don't want to ask glacial and they don't want to war so and messages are hoping that this will really be the last military or attack as part of this chain of events and that they can really settle this diplomatically going forward. until you get the sense that investors are eager to get past these tensions and that they would rather see it as episode it instead of something more