commerzbank says it will resume for the first time since 2007. investmentbacki ibanking will continue. karen has the latest. >> reporter: good morning to you, will. last time i checked they're up by more than 3%. why? a couple of notes. first of all, the earnings were better than expected. the pretax profit for the third quarter came in at 401 million our rows. that certainly beat expectations, in part because of lower loan loss provisions. the big take away this morning is the fact that they're back to paying a dividend for the first time in eight years. this is a bank that has seen very, very turbulent times during the financial crisis. they made two major acquisitions which really didn't pay off. they had to accept state aid to the tune of 18 billion euros. the german government still holds roughly 16% stake in this company. we saw a number of very painful capital increases for investors. now for the last one or two years this bank has seen its restructuring and we're seeing the profits coming back to this country. thirdly, the big news coming

positive results from hsbc and commerzbank, drawing investors' interest. mining firms are weighing heavily. time now for a look at other headlines at this hour. retailers and port workers begin a 48 hour strike, indicating pension cuts. they said they would continue to put pressure on the government, and taking part in the general strike on november 12. that would be the first since administration came to power in january. profits rose 38% in greece thanks to strong sales in the china, u.s., and europe. the japanese carmaker has expected a $4.4 billion profit through march 2016. that would be an increase of nearly 17% from the previous year. hsbc saw third-quarter profits rise from last year. three $.61ported a billion -- a $3.621 billion tax credit. has been undertaking a massive restructuring plan, and earlier this year announced 50,000 job cuts. what powers in-- iran agree to a nuclear deal earlier this year. a reuters report about a new company hoping to move in once economic sanctions are lifted. the cosmetics store has made no comment about the repor

the ceo of commerzbank says he won't extend his contract.n blessing has been at the helm for years. he wants to embark on a new chapter in his professional life. let's find out everything we need to know. hans nichols joins us from berlin. hans: when you look at what the lord is saying, they are disappointed because they did offer a contract extension, but they are thankful that martin blessing has given them almost a full year to figure out who his successor is. blessing announced that he wouldn't accept this contract extension. he is not resigning until october 2016. here's what mr. blessing said in his statements. this is a mckinsey train. at the helm since 2008. it is now time to embark on a new chapter in my professional life. the four-year strategy and's in 2016. he thought it was a good time to select someone new. look at what the stock has done this year. it's down about 8%. the overall banking index was up ever so slightly. they did announce this morning they will be paying a $.20 per share dividend. deutsche bank has halted their d

commerzbank reported earnings. , it is not an incredible environment for them.is and it reads -- it is a reasonable environment for them. manus: we are waiting to hear what we've have from stash what we have from standard chartered. was low rate environment everything a lot of analysts built their models on. that is not necessarily going to happen. that is getting delayed in terms of perception all of the time. that isis something being pushed into next year. that is damaging for the big u.k. retail banks that have large mortgage operations. you are going to have very cheap rates on those loans. you do not make much money in that world. for hsbc, the interest rate in the u.s. is a bigger call for them. they would get a big uptake on their loans. thecine: patrick, one of other things, talking about banking, and another heart of the world -- greece. we now know how much they need in terms of capital. it makes the set -- it makes the financial system a little bit better yet we have a figure. they're looking to recapitalize. it is a chapter that can now be close --

this is sponsored we're happy to say that the wt cap or foundation and commerzbank. of yours is married a frenchman. as a german family this is difficult birthday. she is here tonight we welcome you back.

this is sponsored we're happy to say that the wt cap or foundation and commerzbank. of yours is married a frenchman. as a german family this is difficult birthday. she is here tonight we welcome you back. this is a great idea. 90 will hear from tamarine. -- tim reeves. out eisenhower warned in 1890 win jackson turner said the frontier thesis essay. he said the frontier close and therefore america changed in the frontier have made their. area thet the last left is from two. i want to say tonight is really is about midwest. first off jackson was from. -- from wisconsin. area he in kansas city worked with him. thesiself invented the manifest any. he wrote a. -- he wrote books. he also helped found the oregon trail. he was the first cap colorado appointed by lincoln. these is westward the path of empire. in these is he said there is little zone is the temperate zone of the world empire is moving in to the last. americana to your to and eventually. . his thesis was that. . this view is the debt is the one that was in sugar and. and civilization physically or ropolis.can c

we'll be back after the break with an exclusive interview with the cfo of the german commerzbank. >> viewers state side as usual, u.s. "squawk box" is coming your way next. my language skills, i've read all of your lyrics. you've read all of my lyrics? i can read 800 million pages per second. that's fast. my analysis shows your major themes are that time passes. and love fades. that sounds about right. i have never known love. maybe we should write a song together. i can sing. you can sing? do be bop. be bop do. do be do be do. do do do be do. it's gotten squarer. over the years. brighter. bigger. thinner. even curvier. but what's next? for all binge watchers. movie geeks. sports freaks. x1 from xfinity will change the way you experience tv. >>> good morning. all about the data this week. it's all building up to the big jobs report on friday. if that's not enough to keep investors busy, there's more than a dozen, yeah, that's right, maybe even be a baker's dozen fed speeches planned including capitol hill testimony from chair janet yellen herself. >>> oil prices dropping right now. n

the man who has led commerzbank for the past seven years has decided he will step down as ceo.en the option extend his contract past october of 2016 but decided not to go ahead with that. he has taken the firm through some very troubled times. they had a $20 billion bailout. he has also been cutting jobs. of soured loans as well. he announced he has been leaving his job. south korea's nine leading conglomerates dominating the kospi. these companies are tightly-controlled by a ruling family. let's bring in tim craig. intertwinedl these cross-ownerships. everyone is ending up owning each other. give us some example of that. another over the weekend. we have done the analysis that we have put up on bloomberg intelligence. our global data guys had given us some new ownership maps to work with. it is quite interesting. this is samsung. corresponds or boxes to 17 public subsidiaries. the blue are the private subsidiaries. if you think this is complicated sk has over 80. what this allows us to do is look at and clarify who owns what. samsung --in on there with us for a second -- bear