how is deutsche bank going to respond?tive reporter on the legal enforcement team at bloomberg news. i appreciate your reporting tonight. >> thanks for having me here. >> you know this stuff infinitely better. i can barely spell bank. am i right to say that the deutsche bank russian money laundering liability and them being an outstanding lender of considerable size to donald trump have been seen as very separate issues, haven't they? >> yes, that's correct. >> the house democrats seem to be connecting them in their letter. is that fishing or is there any reason to ask the questions they're asking? >> they're suggesting it but there's no evidence right now. the problem for the white house with all of the noise around russia is that it leads to questions like this being asked since a number of questions have not been asked thoroughly in other areas of russia, it sort of opens up the possibility, well, maybe there's some connection here. we don't have any evidence that there's any connection between the trading in russia and

so who was giving deutsche securities for these hundreds of millions?se democrats suspect russia and one clarification. congress remains in the dark on whether loan storage bank made to president trump were guaranteed by the russian government, or were in any way connected to russia. that's the pivotal sentence in a letter to deutsche from members of the house financial services committee. the suspicion is that russia may have helped to curry favor with a potential trump administration, a stunning thought. for its part, deutsche still holding internal reviews of the trump loans under lock and key and isn't obliged to publish them, either. brent: let's bring in our financial correspondent on wall street. this is a situation that is just starting to develop. what does it mean if russia backed loans to trump, would that be illegal in the first place? reporter: you are right, there are still so many loose ends. i did talk to a lawyer earlier and she does not believe it is necessarily illegal, and if the russian guarantees for some of the loans, those guaran

deutsche bank is near lows. democrats on the u.s.ouse financial committee have written a letter to ceo john ckreon seeking whether president trump's and his families bank accounts had any connection with russia. >>> mario draghi saying there is no reason to deviate from the policy path put out by the bank. euro zone activity is at a 60 or high. >>> the tech sector has its groove back p amo. among the biggest gainers, the fang stocks, facebook, amazon, netflix and google with double digit gains. netflix leading the pack. joining us now exclusively, one of the company's earliest investors. founding general partner as technology crossover ventures whose roster hits include air b&b, facebook, and netflix. good morning, jay. >> good morning. glad to be here. >> first of all, give me your take on the overall tech ecosystem. farhad manjoo calls it is far five. is that good for innovation and the start-up ecosystem for investors like you or is that bad? >> i think broadly we are the back drop to technology. i have been doing this since 1982

do we have any idea of what fine deutsche bank may end up with?cause this was something, a year ago, when the review began, look like it could be serious for the bank. for a number of reasons, this investigation has proceeded quietly. we do not have insight into what the thinking of lawmakers is. because it is deutsche bank and because of trump, questions the democrats on the financial services committee have raised as to whether or not the justice department can impartially make a judgment regarding the banks which is an interesting question financially, politically, otherwise. mark: you go. vonnie: it is getting very confusing because russia is involved and so many investigations into political dealings with the donald trump campaign and russia, potentially. how does deutsche bank sidestepped this with it reputation intact? >> the new ceo has put in a lot of effort and energy to try to resolve all of the legal issues overhanging the bank and the past year and they have made great progress so far. however, especially because of the loans to presi

let us talk more about deutsche's. -- about deutsche.e the cohead of and they control half a percent of deutsche bank stocks, so you have a voice in the agm. what are the issues you are most focused on today? >> a group of investors, about half a percent. we have progress on strategy, supervisory board, composition, and importantly, sustainability management. matt: are you concerned about deutsche bank finally sticking with the strategy since they have done this kind of 180 degree flip-flop? john cryan was doing something completely different. >> we like the progress on the underlying issues on the complexity, the scope, the costs, and the capital raising. we are a little bit confused about the recent changes over 18 the assetintegrating management, so we will ask them questions about this. matt: what about the succession? cryan has put into place two deputy ceo's and he has a new cfo who does not start until july, but is here, and we should hear from him today. easing himself out of the picture? hans-christoph: we like succession planni

the trump organization is that deutsch had lower standards.of the reasons you didn't see jp morgan and morgan stanley and goldman sachs as the counterpart to the trump organization, we know deutsch has been willing to do business with more unsavory partners in countries that other banks weren't, so at the end of the day, couldn't we look at this after looking under the hood and say this is how deutsch operates. they may have lent to president trump and gotten the money or offset it with a bunch of european investors those who wouldn't necessarily do business with other banks? >> that's entirely true and look we do know a lot about, you know, deutsch bank's moscow operations, for example, between 2012 and 2014. it has a new ceo. it's clamped down a bit. if we go back to the money that donald trump owes deutsch bank, looks like about $300 million, it's at a rate that's sort of below prime. 75 basis point below prime. that's fascinating to me. this is somebody, donald trump, so toxic to other banks they won't come up with a price for him to borro

they are behind blackrock when it comes to deutsche bank. why deutsche bank?iversifying through its many affiliates into financial services, port , even in this era of capital controls. it is still making strategic investments. california-based i.t. company last year for $6 billion. according to people familiar with its situation, increasing its stake in deutsche bank. deutsche bank has had his problems as well. john cryan the ceo trying to return to growth because those scandals, if you want to call them that, eroded capital. getting an investment from goinge like hna group towards that. people familiar with the deal saying they will raise their stake from what in february it was a 3% stake him then in march, they announced it was a 4.8% stake, so they are under 10%,it to just basically doubling its stake. as you rightly said, this larger position in deutsche bank would surpass blackrock, which was the largest shareholder which has a stake of 5.9 percent, followed by ubs of 3%. stake? about this what does it say about their ambitions outside of china? >> dive

so it's great news for deutsche bank.is interesting from a chinese prospective, it is against the trend. 2016 was the bumper yearfor against the trend. 2016 was the bumper year for outward investment, chinese companies heading off abroad, but the government has been putting the brakes on out of a fear ofa putting the brakes on out of a fear of a sliding currency, deutsche bank is the next one in its sights. interesting. thank you john. an unusual day in asia. most of the main markets were shut for another bank holiday. a midweek one which is unusual. so we had australia open. you can see down by nearly 1% and bombay and also this is wall street the night before. europe, in asia, lilacs on financial minister kets. you can see they are all down slightly at the moment. it is partly about the earnings we have been getting through. companies like in london for example, sainsbury‘s, the big retailer is down 2% at the moment as are other stocks that have come out with disappointing earnings, but there is a little bit of concern

and deutsche telekom posted a 7.5% rise in the first quarter. sales were higher in the period partly thanks to a recovery in germany where mobile service revenues grew 1.4%. they also added cust momers at mobile which added to credit shares. >>> bt says they will lower the dividend forever cast for the year ahead after a challenging year. they also announced plans to restructure its global services unit, in a move that will slash 4,000 jobs and take on a 300 million pound charge. bt reported fourth quarter earnings broadly in line with expectations. a lot of teleco earnings to get through. neil, let's kick things off with bt. the main reason we're buying the stock is for the dividend. if now they're saying it's lower, what is the attraction of the stock? >> that's a good question. i think the term they used was progressive dividend policy, which wetter pret progre interp. investors need the dividend growth. we're now looking at a company which is doing the opposite. the other thing i talked about was basically investment to enhance the customer

now they're getting deutsche bank involved. details when we return.tay tuned, you're watching "worldwide exchange." so you miss the big city? i don't miss much... definitely not the traffic. excuse me, doctor... the genomic data came in. thank you. you can do that kind of analysis? yeah, watson. i can quickly analyze millions of clinical and scientific reports to help you tailor treatment options for the patient's genomic profile. you can do that? even way out here? yes. even way out here. >> good morning. welcome back. yesterday we saw a record close for the s&p. it only gained about a quarter percent. we saw the dow and nasdaq up a fraction more than that. five straight days in a row of gains for the dow. for the most part they have been small gains, but together they have scrubbed out that 2% loss we saw last wednesday. so resilience again, albeit the gains slightly small each day. this morning a decent set of futures. so far in the last couple of days it's been flat, but we've got a decent third or so of a percent of gains. the dow up 76 points. o

we will what deutsche bank's response is.have to think that they reticent to hand over their internal investigation into this russia issue as well as client information. matt: alberto -- guy: sorry, jump in. matt: alberto, what did you think of deutsche bank in that alreadyot -- it has paid so much out in fines. michael points out there is still a big one left to pay. when do they finally get these regulatory issues behind them? european banks have three issues over the last 10 years since the crisis. you know, it is the first one -- the first one was asset quality and capital. a second one is business models. the third one is fines and regulations. has onlyeutsche bank sold the first one. they still have to get a new business model. they are too heavy on investment banking, and they still have the isulatory problems, so it one of the restructuring cases in the european banking system that started latest compared to many other banks. they have a lot of work to do. i think it is a multi-your process. we are not just looking at

there can be a day without a deutsche bank story.s an ankara investor a good thing for deutsche bank? the billion they have just raised is all they need. it's not like we haven't seen the chinese out there. capital outflows. what does it mean, i'm not sure it means a lot. they obviously took the issue. andgot foreign investors they probably want to keep the capital out of the country. this isn't a short-term trade for them. mark: thanks for joining us, jonathan. let's check in on the bloomberg first word news. courtney donohoe is here. >> fbi director james comey said it would have been catastrophic to conceal discovered emails from hillary clinton before the election. he is testifying before the senate judiciary committee. democrats blame him for undermining the clinton campaign by disclosing just before the election that the fbi had reopened its investigation into her emails. he said disclosing the probe was the right choice. you can watch the hearing on bloomberg. president trump meets today with palestinian president moffat mahmo

and they then arranged to somehow deutsche banc into making a preferable loan to him. i mean, this is -- people spending too much time in the malaria swamps, in my opinion. the fever has taken over, and they're delirious. but the less said, in my opinion, the less said by the white house, the better because at the end of the day, the american people are going to look at the conclusion of this. and if the investigation, as i think will find, finds no collusion between the trump campaign. sure, it's going to find some bad actors out there on the fringes that did things. but i don't think there's going to be any evidence of a collusion or subversion of the president and what's going to end up happening is the american people are going to say, oh, well i remember all those people who made those wild accusations. and i'm not going to trust them any further. >> it's really feeding the conspiracy theory. especially when you talk about russian banks and foreign banks and this and that. let me ask you about this because so they find nothing. okay? and that's good news for him.

you are watching deutsche bank and the chinese firm continuing its buying spree.d morning. deutsche bank in focus because there's been more news from a chinese hotel conglomerate group. they were building a stake back in february in deutsche bank. death increased to 4.8% in march. have a have a shareholding of 9.92%. they said in february they plan to keep that under 10%. this makes them the top shareholder in europe's largest investment bank, overtaking blackrock now in second place. this ceo focusing attention on turning around this bank which is been hit by legal and misconduct charges. they did a capital increase recently of 8 billion euros. they have gone a bit of a line spree globally. we're still cutting through the cake of today's earnings. what is on the agenda for today? reporter: lots to talk about. we have numbers from a host of banks. we have bmp coming out of france today. our focus is going to be on what they have to say about the trading in the business, how currencies, fixed income, currencies, and commodities are doing. interesting conversation a

group raisinghna its stake in deutsche bank to almost 10%.reported a 3% holding in february. hna holding would surpass blackrock, which had been the largest stakeholder in deutsche bank according to data compiled by bloomberg. president trump's pick for ambassador to beijing says there may be a case for sanctions against chinese companies that do business with north korea in defiance of security council resolutions. told thenstad senate foreign relations committee that he hopes recent actions by the north have convinced china to take the situation more seriously. >> i think there are other things they can do diplomatically and economically to send a clear signal that they as well as the united states and other countries in the world do not tolerate this expansion of nuclear technology and missiles by the north korean leadership. zealand's an opponent rate fell more than anticipated, the lowest since 2008, thanks to the expanding a economy. the rate dropped to 4.9% from 5.2%. higherimmigration and levels of participation mean employers can off

let's talk about deutsche bank.ar from the new and we will also be watching for any clues on strategy from postbank along with its possible ipo of the asset management is this. a big day for deutsche bank. what should we be focused on? one of the things we will focus on his hearing from the new cfo. previously the treasurer at citigroup, he worked also at morgan stanley and jpmorgan as an investment banker. little-known fact maybe that he dissents from a prussian military leader and is someone who was executed by the nazis as part of the hit were resistance in 1945. that probably won't play huge role in his job as ceo at deutsche bank but he will hear from a lot of angry shareholders , as will the ceo because they reversed course on their strategy a couple of times. shareholders are concerned that the have not really got guts to push through the current strategy which is to keep and reintegrate postbank and to do an ipo of their asset management unit. investors want to watch closely to see that they will be willing

has there been a conversation within the deutsche bundesbank over currency strength?a currency target come and you would not expect me to make that assessment of the future of the currency. i have been in office of little more than seven years, and one reason is i never comment on the future of the euro or any other currency. i will not change that. as you can see, the economy is inong, not only germany, but all of the euro area, and that is a factor. note come upt monetary policy does take some time to have the desired effect. i'd liken this to a hunter where you need a few steps in front of that accuracy. macro data seems to suggest the economy is strengthening. do feel this year is the proper time for the call for the ecb to discuss normalizing monetary policy? what we are looking at of course is the rate of inflation, and as you have noted, inflation ,n the euro area is up markedly headline inflation according to fresh estimates in the euro zone is at something like 1.9% for april after 1.5% in march, so inflation is somewhat up. i don't see any deflationary tende

mark: deutsche bank chief executive john cryan weighing in on relations. more on it, neighbors to the east. this is bloomberg. ♪ vonnie: live from bloomberg world headquarters in new york, i am vonnie quinn. mark: from london, i am mark barton, counting you down to the european close in roughly 14 minutes. deutsche's chief executive john cryan spoke in a conference in new york, saying europe to focus on its neighbors to the east after angela merkel signaled that relations with the u.s. have changed. >> she gave one of the most important pieces -- speeches she has ever given. that was aspeech real keynote address, following the g7, in which she made a clarion call for europe to start looking after itself. mark: he spoke about the proper potential of asia for deutsche's and the outlook. joining us now is stephen iran lenders.s the german it is interesting he made such a big issue of angela merkel's weekend speech where she talked about the developing relationship for the better or worse between europe and the united states. correct.s absolutely i firstly was

they say could help deutsche bank. >> it would be a signal to other investors.re is a great positive chance, a big upside, may be investors in the u.s. as well maybe. they could have a lot of influence, but maybe interfere in a negative way. very friendly. sophie: the group has been shopping for overseas investments and is now the biggest investor. they took a majority stake in an airport. javier: that is all. back to you. brent: headgear bands prevent people from playing high-level sports. that is why a young basketball player is asking people to lift the ban. and nike has a sports job for women. the entrance into modest sportswear is being held for its potential to bring more muslim women into sports. >> as she plays for the bradford cobras in the north of england, local leagues allow wearing a hijab, but internationally, basketball governing body does not. she said this is stopping muslims, sikh, and jewish women from playing, so she is calling for the ban to be lifted. >> create role models that are muslims that are in sports for young girls to take them on

bankany years, deutsche did. scarlet: $300 million, right? >> yes.the banker for donald trump, you would think that would be great for them, but here is another problem. julia: this will be closely settlementt only the with the fed but also the department of justice peer groups resident is also responsible of appointing people to the department of justice. in line with what you're saying in terms of the existing relationship donald trump had with deutsche bank, their decision and future settlements will be under fierce scrutiny. >> exactly. part of the controversy with trump's firing of comey was whether it was about the inquiry into russia. trump also fired one of the attorneys who was looking into this deutsche bank involvement and loans, etc., from new york. so now there will be questions on that it was that related to this? or will there be a new appointment that is going to be fair? all this stuff is tough. the bank, they really have no control over these things. instead of really benefiting aom somebody they had long-running relationship with a

deutsche bank in frankfurt, looks like deutsche bank is once this time itfines, is only $41 million butis to settle allegations with the fed that it has failed to maintain adequate controls against money laundering. the interesting thing i think is that this is over billions of dollars that were laundered so it is possible deutsche bank made more money on the laundering issues that i has to pay in the fines. very interesting stuff there. also interesting to look at metro, another german stock coming out with earnings. metro and its media business, saturn has a loss before special items of 4 million euros them sales wereks like unchanged at 5.2 6 billion euros. carry.etro, cash and metro media saturn, metro stock germany, it could come down at the open. finally, watch cellnet. we germany, had headlines thatn tower is looking to explore and ask is -- and acquisition of cellnex. crown castle is another buyer. we could see a bidding war buildup over sell -- cellnex. it is up 24%. a few stocks to watch their. formats until the market open. if you take a look at futures you can see that littl

now, deutsche post failed to deliver.n telling you this morning, missing estimates in the first quarter. we are going tuesday with the ceo, frank appel, at 8:45. just of human it, u.k. time, to discuss what happened, why, and the outlook for the future. investors need to tune in. this is bloomberg. ♪ manus: 8:24 a.m. in london. 8:40 4 a.m. in london. juliette saly with first word news. juliette. juliette: mattis, the european commission sent a letter to the u.s. government regarding a possible ban of electronic devices on flights from european airports. a german magazine has reported the u.s. may announce a laptop ban on european flight this week, citing an internal email from the director general of airports council international europe. the german business said the european commission expects an announcement in the coming days. earlier this year, the u.s. banned certain devices on flights originating from 10 middle eastern airports. senior senate republicans close ranks behind president trump after his this missile of f

hna investing in deutsche bank?t this is a business that has in -- this is a business that has been in eclectic stocks. han -- hna andor how does this fit into the portfolio? they came in at a pretty intriguing point of time last year. investors feared a big fine imposed by the doj, some hedge funds pulled back and shares plunged to around 10 euros. that was an inflection point. i think hna thought it was a good opportunity to invest into a bank that what they thought is undervalued. said, they are on a shopping spree big. they are allegedly interested in lender.en it is a prestigious asset to have, deutsche bank, and also they are looking to invest abroad and having a strong relationship with a big tank that can help broker-deals does help for hna. guy: is there a sense that this -- what does the future hold for the relationship in terms of the actual numbers? befor now, hna should content with close to 10%. they would have to file for approval with germany's financial watchdog. if they want to increase to 10%. i w

. >> i don't have loans from russia, we don't know that deutsch hasn't reassigned.mation, no one is accusing him of anything, it's a matter of transparency and given this noise around it, let's clear things up, mr. president. >> mr. harold, what are the other -- it seems like he could solve his political problems by releasing taxes -- >> we should have a constitutional amendment that congress should come together and pass laws, you should have to release your returns if you're the nominee for a respect the party. i only ran for congress and senate, didn't make any money, people weren't as concerned -- >> you ask marco rubio they attack you for that too. >> he basically did something nobody has ever done. he was defiant about it and show cased his apparent wealth in front of people with the airplane and tv show, this huge persona independent of all of this. hopefully he does release it. i don't have a lot of faith in stock in him releasing it going forward. he didn't answer that question. who knows what -- it's not about if he has any holdings in russia, it's whether

manus: another headline on deutsche telekom. billion. 5.5 confirming the full-year forecast as well. there more discussion in the united states overnight about the possibility of consolidation with t-mobile usa. anna: interesting to see what they're saying about the united states business. strong numbers coming through from door to telecom over the last month, increasing their estimated subscriber gains for the full year. the strategy back here in europe wirelessabout winning business clients in germany as a face competition from the lights others.one and a tough competitive environment but they are confirming that full-year forecast. if you ordered anything online or drop the letter in the box, the click of the button, it's all online. deutsche post delivers first-quarter earnings under 5 they said 2017 is going to be a more normal year. the fourth quarter was their best quarter in history. it's about the electronic delivery. first-quarter net income, 600 33 million. we will have a conversation , frankn with the ceo appel, at 8

the key here is it's house democrats who are making this request of deutsche bank.ter dated may 23rd to the chief executive officer of deutsche bank in new york. john cryian. what they're asking for here are records related to deutsche bank's involvement with russia and also deutsche bank's personal involvement with president donald trump and his finances, if any. so what they're looking for specifically in this very long letter they say in furtherance of the oversight responsibilities, and in the interest of the public's right to understand the extent of the president's financial entanglements in russia, please publicly affirm that the bank has completed a thorough and rigorous review of both the 2011 russian mirror trading scheme as well as of president trump's accounts and those of his family members. they're asking for the bank the provide the committee with documents and me rows related to the -- memos related to the personal accounts of the president and his family. so something here that deutsche bank and the president probably don't want to turn over, being

selfie: deutsche bank has agreed settle$41 million to federal reserve allegations that it u.s.ons failed to maintain adequate protections against money laundering. the fed said u.s. operations fell short of complying with the banks secrecy act which requires federalto prevent transactions. the cease-and-desist order -- layingto prevent out a plan to sell 25% of the nationalized lender. the government plans to sell the stake in a share offering in london and dublin with terms to be set in mid-june. according to previous government estimates, the sale may raise about 3 billion euros. to vendee ceo is poised succeed the executive chairman of telecom italia. he could handoff the baton as the nextomorrow when board meeting is scheduled. that comes after eu regulators approve the plan to take control of telecom italia yesterday. that was your bloomberg business flash. manus: selfie, thank you very much. -- sophie, thank you. of has gone out of his comfort zone and travel to south america. it's a big step, a bold step just a pick up on what you're saying about brazil. this is interest

the house democrats folding deutsche bank for withholding russia reports. -- faulting rocha bank for withholding russia reports. once again, democrats have deutsche bank a letter citing compliance failures and asking for findings on those trades and trump accounts. meanwhile, president donald trump and first lady m elania are due to land in brussels. it is the latest leg of a nine-day journey of the middle east and europe. the president will meet with belgian royals and the prime minister tomorrow the president will join a nato summit. he will be returning to italy later in the week. the nato summit is with top allies including the newly elected french president emmanuel macron. is an editor for bloomberg news. kobe the primary wish list for -- what will be the primary wish list for tomorrow's nato meeting? >> from nato's point of view, the main thing they want to have is a smooth meeting. they want the optics to be good tomorrow. they would like for donald trump to come in and show that he is in these nato and wants data and is behind nato. as you know in the past couple has been a

what is deutsche telecom going to want? is masa son willing to eat humble pie? of a job as claure has done -- >> he's done a good job. >> you're still sub scale if you're sprint. think of the subscriber numbers when you compare them to verizon or at&t and the synergies from the deal are potentially massive. so there are a lot of reasons why you would want to pursue it. but how you do to meet one of the needs of deutsche telecom and it's my understanding they continue to want a significant presence here in the u.s. this is the best investment they have ever made. they want their guy to run it. that's john legere. by the way, i don't think masa would have a problem with that, neither would marcelo. >> marcelo has done a good job. >> yeah. >> he stepped away for last year. >> but he was a billionaire -- >> he was fired up. just because he's billionaire doesn't mean -- >> you're absolutely right. i don't know for sure. but the germans are going to want their guy to run it. really, do you think that john legere would not run the combined company, come on. >> i was cr

so he had to draw money from other source, especially deutsche bank. and then after the financial crisis of 2008 when even the bluest chip names in american real estate couldn't get financing, donald trump was the least blue chip, the least bankable name in american real estate. he continued to get financing from some one, somewhere, some how. >> right. joy, i don't know how light blue that has to be, if that's a periwinkle or how unblue the blue chip spectrum goes, but david's financial history is dead-on there was a period of time where donald trump's funds were foreign. and that doesn't mean it's automatically a bad thing in business. but it's certainly a relevant thing to u.s. foreign policy, joy. your take on what david is outlining. >> well, no, and malcolm would know this better than i. but if you think about that period during late 1980s when donald trump was in financial straits and to david frum's point, was seeking financing from somewhere and was getting it from russia, it was also a period of time when donald trump was expressing an intere

making deals with goldman sachs and deutsche bank.that's academic because he hasn't even done that. he is still a beneficiary of this business and very aware. >> it's not technically illegal. you get what you get and you don't get upset. jesse, sweet. gentlemen, stay here. >>> next, a member of the senate judiciary committee. dick durbin. what's his reaction to former attorney general sally yates' testimony. intel does! just think of everything intel's doing right now with artificial intelligence. and pretty soon ai is going to help executives like her see trends to stay ahead of her competition. no more sleepless nights. - we're going to be friends! - i'm sorry about this. don't be embarrassed of me, jim. i'm getting excited about this! we know the future. we're going to be friends! because we're builng it. oscar mawe went back toig the drawing board... and the cutting board. we removed the added nitrates and nitrites, by-products, and artificial preservatives in all of our meat. every. single. one. why? for the love of hot dogs. if

. >> deutsche bank has a new shareholder. the chinese conglomerate hna has taken over blackrock as the largest stakeholder. deutsche bank has been on a mission to increase funds after incurring losses related to misconduct charges and legal investigations. not a lot of reaction. is that a big deal? top shareholder change? >> i think it's interesting in the perspective of what was and still just about it is the top three sgloebglobal investment b having a 10% stake from a chinese company. particularly given deutsche bank's falling share price, many wonder if this will push for a bigger takeover. >>> perrigo says its offices were searched by the u.s. department of justice anti-drug division. shares down 1.9%. >> marine le pen offering a clear vision of the currentry ahe currency ahead of the election on sunday. i think there's a debate tonight? >> i'm trying to figure out where to watch it there's some french bars where i have seen soccer matches in the past. soccer is easier to watch in french than the debate. >> let's look at

unicredit, deutsche bank. so it is probably 30% reduction in systemic risks. but also something related to the possibility to reinforce the eurozone to eliminate any kind of expectation of euro pick up. the possibility to have something different in the way in which eurozone can act. this is something that i consider really very important. it could be 50%. and the other part is an increase in interest rates. it is clear that increasing interest rates, you can have some benefits. retail banks have more benefit, but also the system will have benefit in increasing interest rates. it's a combination of factors. >> do you think that maybe european investors are placing too much hope, pinning too much hope on emanuel macron and one specific candidate? we saw a similar story back in the day with matteo renzi. he didn't quite fulfill all the expectations. >> it is clear that we are now in a phase in which the first point is avoiding the risk of populism and possible eurozone threat or problematic situation. that's the first part of the story. delivering on actions, ab

deutsche thank you for coming in telling your story. i think it is so important that we hear from you because it's a hesitating thing for parents ingram parents to talk about. so i read your testimony and i'm sorry wasn't here to hear you give it. we are trying to work with families in certain things. one of them was an athlete. she described herself in the hospital as an addict. she had been in and out of recovery and unbeknownst to the discharging physician who didn't read all the charge that discharged her with oxycodone into her pic line and didn't wake up the next day. we are trying to fix those kinds of things so that situation can happen again but one of the things, i'm curious to know tracing back and looking at what happened with your son we are trying to get this acute pain issue. if you have an acute athletic injury that you don't need two weeks of pain medicine or maybe 48 hours or 72 hours. was that ever offer to your son, short-term treatment for short-term prescription option for him of the initial prescription? >> i beli

week and over the weekend the negotiations between the two sides were consistently r productive in deutsche respectful.tic route of process those that negotiated in good faith on believe this experience bodes well for the budgettions. and future negotiations to show the same desire to get things done to get the darn good budget without the specter of the shutdown to hang over the countries had.an one final thing to show the colleagues are willing to work with us we can get things done.his all too often from the white house the attitude is just do it our way or my way or the highway. that is what happened. when you don't do things in a bipartisan way it is much harder to get a product with the consensus of where america is. hopefully this negotiation beat a model for the 2018 bill but that we can allrk work together to get things done for the country we love. i expect we will follow later this week and received overwhelming support in this chamber i yield the floor in note the absence of a quorum . >> how and when did the final agreement come together over the weekend? >> late sunday we did

let's get to deutsche bank's agm taking place. he says there are more opportunities to increase revenue this year as europe's biggest investment bank continues its turnaround plan. he says "2017 is another year of restructuring. we see better revenue opportunities thanks additionally to a modest economic recovery in europe and a modest u.s. economy." deutsche bank two months unveiling yet another turnaround strategy. bloomberg "surveillance" continues in the next hour. joinsene joint gu =-- guy with the latest on trump's troubles. this is bloomberg. ♪ . . tom: robert muller after an historic announcement by the deputy attorney general, they await the many distinctions between the special council and prosecutor. president trump said there was no collusion between his campaign and a foreign entity. speak with morning with turley. there is answer election not in the united kingdom or italy. teheran. good morning everyone. this is "surveillance." i'm tom keene in new york. guy johnson is in for francine lacqua in london. guy: the whit

. >> deutsche bank maybe close to settling a u.s.serve probe into how billions of dollars moved through the bank and out of russia. democratic lawmakers have asked the german lender to hang -- hand over its findings on the handling of russian mirror trades as well as banking on the half of now president donald trump. deutsche bank is looking at maybe paying off its third massive fine this year to u.s. regulators. >> this isn't even expected to be the big one. the federal reserve is looking into this, but also the doj and the doj is the one investors are really focused on because that could be the biggest fine and the more consequential one given that deutsche bank is already operating under a deferred prosecution agreement. that is the one people are focused on. the federal reserve would certainly be nice for john cryan to get out of the way. they said they are more than halfway through the major things they need to get through on the major issues, but still a lot to be done. >> let's talk a little bit about this u.k. election. campa

deutsche bank and telecom t-mobile.helved made of government spectrum auction next month. >>> music streaming service spotify will do a direct listing on nyse. the company will go public later this year or early next year. more on "countdown" coming up next. so new touch screens... and biometrics. in 574 branches. all done by... yesterday. ♪ ♪ banks e't st undergoing a face lift. they're undergoing a transformation. a data fueled, security driven shift in applications and customer experience. which is why comcast business delivers consistent network performance and speed across all your locations. hello, mr. deets. every branch running like headquarters. that's how you outmaneuver. liz: we have breaking news on a dow component you may own, boeing, down half a percent. it resumed some 737 max flight activities. these of course had been halted, the test flights had been halted of the 737 on wednesday due to an issue related to engine but the regulatory agencies are saying they now support restarting the testing. boeing's

last month, deutsche bank -- deutsche bank sold additional shares of capital.siness flash. tom: thank you. in washington and london, "bloomberg surveillance." joining us now is kevin cirilli. with us in new york is ira .ersey and stan collender what i want to know right now is the immediate news -- not even the fed meeting this afternoon -- is open on the care repeal and the idea -- is open obama care repeal and trump-care -- you talked about an amendment overnight? decided asas been late breaking news. but i can tell you that these discussions are ongoing. the dynamic that has emerged is that the white house is pushing for artificial deadlines. they have to get a bill passed by wednesday, by thursday. and it started again last week. get it passed by saturday. and their house members in the moderate and the freedom caucus who say, what is the rush? don't have the votes yet. tom: they are feeling the pressure from trump who came out yesterday and said he wants to shut down in september. i have never seen that in my life. ais guy is a deal maker or pseudo-dealmak

we talked to peter huber from deutsche bank. excel spreadsheet? this is original? peter: certainly. what is going on in washington is important. the ability to get tax reform through. tom: do you delay that? peter: obviously. -- these that machine sense that the machine is operating smoothly has gone by the wayside. chances of getting a significant fiscal package this year has gone down. tom: very good. -- peter hooper with us. it is without question our interview of the day. our kevin cirilli -- you just heard him speak about the -- kevin cirilli and mitch mcconnell of kentucky in the 9:00 hour. this is bloomberg. ♪ ♪ live pictures of the labour manifesto. moran, iaitlin believe. this is where jeremy corbyn is launching his manifesto, where he think he will position himself. he plans to hit one million more people. the one thing i will say is a lot of the labour manifesto was leaked over the weekend. it is something we need to keep an eye on. at the same time, polls are showing tory support is surging in the labour heartland. s

because deutsche bank cut the sector to an underweight. once again banks were among the key decliners in the italian session yesterday. by in large we are on track for a fourth day of losses in europe. i want to get to this story. british airways says it will be operating full service from heathrow and gatwick airports after announcing computer systems were back up and running again. it warned it may take time for bags to be reunited with travelers. this after a worldwide i.t. power outage forced b.a. to cancel hundreds of flights leaving thousands of passengers stranded. shares off by 2.85%. that's for the uk listing. the spanish listing was up in trading yesterday. >>> ryanair has posted a record annual profit but the budget airline remains cautious on fare levels going into the summer season. the carrier said net profit is at the lower end of forecasts but in line with analysts expectations. shares are still off by 1.2%. the company also announcing a share buyback program to the tune of 600 million euros. maybe that was a little bit lig