saving deutsche bank. in the job, the ceo is replaced by christian sewing. do questions remain about the chairman's future? jean there are people. purchase avexus. should investors be concerned about the 88% premium the swiss company purchase is paying? plus, orban wins big in hungary. good morning, this is bloomberg markets: the european open. we are here to cover the deutsche bank story alongside guy johnson in our european headquarters in london. guy: deutsche bank is front and center. let us look at what is moving in europe. 3.3% to thek there, good. remember where we opened on friday morning. i urge you to go to your bloomberg and you will see the difference. that is what we need to look at in terms of where deutsche bank is trading this morning. up this morning that flat compared to the friday opening. hydro's are trading ok this morning. a bunch of stocks are moving. thanks are front and center. to the downside, rolls-royce is trading quite strongly on the large sale. psp swiss downside, property is

is deutsche more vulnerable?ook at credit suisse and the transformational stories and you don't get a sense of the new world order in deutsche bank being revolutionary. bythis could be a target other banks, but it is a long we probably have that bank ist, but deutsche not alone. we mentioned that valuation of the old sector and deutsche bank has struggled more than others, but this european sector trailed behind and you look at this and there are the and banks from a few years ago and this would have been an amazing call to make. >> a thing that you said was the risk for markets being a sharper slowdown in growth and we had comments from the ecb about all of the trade wrists adding , willre and that softness its balance back? had slowdowns and we are not going to get that in i think it is robust people always talk about the the story is not changed and they are experiencing a strong recovery and ity remain positive thisbly has the impact on momentumwn economic and i think that we will get a better picture going f

deutsche bank, in history, deutsche bank was founded 150 ,ears ago as the deutsche bank financing german as well as in projects in other countries. ultimate strength of deutsche bank, and they have to re-concentrate on tha, focusing on the german market to become one of the top worldwide investment banks again. buycine: klaus, should they commerzbank? i you wantf them to focus on germany, should they be buying a rival in germany? klaus: no, no, no. to the honest, commerzbank and deutsche bank, a merger would cost synergies, would cost working places, but there fantasy in it. i see a cooperation in special business areas, the special business park, much more better than the merger. you have seen the commerzbank merge with another bank, and we had nearly 10 years of problems with the different cultures together. i do not think that a merger of deutsche bank and commerzbank will be a benefit for the shareholders. francine: of it, so, k laus, what do you want to see for the next 20 days from mr. sewing that he is the right pick? is it more cost-cutting, and does that need to come immediately

deutschek numbers. let's get a little bit of tech for you. we have nokia first-quarter sales, 4.9 5 billion. you are seeing a little bit of a dip in nokia. operating profit comes in at 239 million. that is a big miss on the operating side of this business. top earning side is at the .owest end of the estimates they raised their primary outlook for the network's business. you have the networks, the operational side, they are all coming through. how are you doing on the banking? anna: we are not there on the banking yet. let's look at the car sector. ,irst-quarter operating profits 681 billion, below the estimate. , q1 sales broadly in line with the estimates. the operating profit number, we have that as well. that comes in below estimates. china, ourrom reporters suggesting china might be about to drop the import taxes on foreign cars. that could be interesting for other foreign carmakers like bmw and toyota. waiting for that from the auto sector. we are waiting for numbers from the banking sec

deutsche bank is the white line.he stoxx 600 banks index is the blue line and you can see a big disparity of performance. both asset classes have fallen, but as you can see, under cryan, deutsche bank is down by almost 55%. that is total return. this is sure shares and the stoxx 600 banks index is down a mere 20%. it's one of the reasons why we saw mr. cryan pushed out of the door. a big disparity in performance. deutsche bank shares sank to the lowest level. with deutsche bank, some of the questions when it comes to the new chief executive. what is he going to do with the investment bank and how much of a change is it going to be compared to his predecessor? this is the bloomberg world bank index. we don't talk about it every day, but it's a wonderful gauge. we have 146 members and this tells you the predicament that he finds himself in because deutsche bank is the worst performing global letter. date out ofyear to the 146 members on the bloomberg world bank index. looked at the an hour function and 50% of analysts

guy: i am here covering deutsche bank. the new ceo is not wasting time in cutting costs and refocusing the bank. i will speak to the cfo later in the day. lower,e bank is called cash trade less than 30 minutes away. ♪ matt: a stitch in time. totsche bank outlines plans downsize germany's biggest lender as it posts earnings that missed lowest estimates. traders lower. -- speaks with the cfo. gradual exit from qe, will he repeat his patience and persistence mantra, how will that affect the currency? barclays traders show momentum in the first quarter as equities surged. ceo jes staley says the restructuring is over. guy? guy: less than half an hour to go until the start of trading. values pointing to a more mixed picture. i do not think you will see much action. there are locks -- lots of ex dividends. a lot ofsee ex-dividends across the market. you have stories on the political front, it will be fascinating to see how the commentary features in the iran -- in the market. commentarye macron surrounding what is happening with

deutsch banks has a new ceo. they say fourth quarter set backs will not be repeated under any circumstances. >>> novartis buys a company for a gene deal. >>> rusal plummets they dragged glencore lower. >>> italia reopens in the red after being halted down. they replace six board members and change strategies. >>> good morning, everybody. happy monday this is part of a new week and a new week for equities as well. you can see as the momentum is a little more positive, these are some of the stocks we had this week dow closing up apparently 10% in all-time high. s&p breaking towards the average. the momentum in asian entities was a little somber. the broader stocks in europe 600 also up .5% already in one hour of trading let's switch to markets. there you can see in line with what we saw for the composite index. all of the sectors are trading in the green this morning led by germany. germany is up at .8% cac karant ftse 100 up .2%. all eyes will be on the ecb as far as eurozone is concerned some industrial productio

christiane's even knows deutsche bank from the inside out the new c.e.o. has spent thirty years there rising from financial adviser to board member so he knows what he's getting into. zeven replaces john cryan who took over three years ago the englishman was able to settle numerous legal disputes he downsized the bank's underperforming investment banking division cutting jobs but years of fines and penalties draining business down deutsche bank is in a permanent state of crisis under korean's tenure the banks struggle to contain its losses cutting those losses is kristan the savings top priority now and that means he'll have to untangle his predecessor's mistakes most experts think that means deutsche bank will be returning to its roots in the traditional banking sector. and we can bring in stephanie now from the frankfurt school of finance dr stephan deutsche bank a seen three top media ship appointments in six years amid pressure from investors to improve profitability reverse that share is saving the man for the job. i think saving is probably not the o

bank like deutsche bank turns around.ct deutsche bank knows where it wants to go? there has been reports of a potential disagreement within the board between the chair and some board members. was this a compromise candidate or have they set out a new course for themselves? to tellit is difficult because i was not part of the discussions. nonetheless, i think there would have been another internal who in the past has that leadstatements me to assume he would like to be ceo, himself. been ang him, this has statement for the investment banks. by designing for saving, this ,as -- by deciding on sewing this was more a statement in the opposite direction. think deutsche bank getting out of the u.s. is more likely? daniel: can you repeat the question? alix: does this make it more or less likely that deutsche bank will get out of its business in the u.s.? become i think it has slightly more likely. i would not bet too much that they will definitely do this or this is a complete 180 turnaround. move mores a slight toward the retai

plus, the future of deutsche bank.yeing matt james to be replacing the ceo. will he be the man to fix germany's largest bank? good morning. i'm matt miller in berlin alongside guy johnson. guy: we have only four trading days this week in europe for the stoxx 600. it is up. today, it is softer, but nevertheless, on the weeks, trading higher. the two stocks leading this morning. we show you what is going on on the downside. it is largely that story that is dominating. , that is why we are seeing what we are seeing. the take away this morning is that the european stocks this week are higher, not lower, despite what we are seeing on the trade front. let's get a bloomberg first word news update. >> donald trump has said a deal in ae reached soon revamped nafta while playing down that the announcement of me take place next week. -- the announcement may take place next week. he may make the announcement at a summit next week. south korea's former president park geun-hye has been sentenced to 24 years in prison. the sentence h

francine: deutsche is downsizing. the bank abandons ambitions, cuts jobs in a sweeping overhaul of the investment bank. we will be speaking to the chief financial officer. the ecb announces a policy decision later. just how confident is the central bank's president in the euro area economy? facebook shares rally. is it too early to see the true impact of the data privacy scandal? of course, it is thursday, our brexit show, will we will talk the customs union, the irish border, and a possible second referendum. ♪ welcome to "bloomberg surveillance." i am francine lacqua here in london. these are your markets. you can see european stocks gained, and the banks are fluctuating. the stoxx 600 bank in europe is pretty much flat. 1.2164.lar is oil is gaining. we hear from the barclays chief executive in an exclusive interview. we will be talking to the riksbank governor after the central bank pushed back its tightening cycle. guy johnson will be speaking to the new deutsche bank cfo after the bank announced its downsizing pr

deutsche and softbank have been in talks for a long time about this deal. deutsche telekom will end up with a 42% ownership in softbank and the combined entity. softbank will have 27% but there are doubts whether this deal will get to the regulators and , uris vegas hotel operator agreed to pay $560

deutsche bank reporting results thursday.alking to management in frankfurt on the day. howard deutsche bank reporter, this is great reporting. is this going to happen? it seems to be happening quickly. how big of a cut are we talking about to the cash business? big cut. expecting a the business is in for deep cuts. we believe based on our sourcing, we do not know how big, but expect some massive restructuring going on. that will be part of a bigger package. they are likely to unveil it thursday at some point in the near future. other business units will get cut as well. we do not know which ones. they are looking at each unit carefully, and the ones that are not profitable, and where they do not see a future where it is too expensive to invest. people should be looking around. why haven't they cut u.s. cash equity trading already? they spend five dollars to make four in this business, and it does not look like there will be any chance of improvement in good market conditions. why is it taking so long? steven: i think that is

rumors become a reality deutsche bank would definitely become a big more deutsche again you know concentrating a bit more on the markets here in germany with its corporate customers with its private banking division and getting out of this business anglo-saxon business of investment banking that's also very expensive you have to pay those people a lot of money and that's been a problem recently for deutsche bank. they'll also be in new german operations boss the new c.e.o. will that make more german again and is that a good thing you think. well yes the name is frank. he will succeed kim hammond's you know that's the woman who called deutsche bank to be the most dysfunctional company she ever worked for frank now frank in germany he is close to christians even the new c.e.o. both have been working for deutsche bank for many decades and this is probably the qualification that counts more here than the german passports of both men. knew cuts will have to be implemented at deutsche bank new enormous changes in the i.t. division and it's probably a good idea to have people here in charge who know

shares in deutsche bank are higher.ecadean, a three veteran for the frankfurt lender , has deseated cryan. he took over almost three years ago. the total return, which includes dividends, down 25%. peers up 4%. last tuesday, deutsche bank's stock fell to the lowest level since 2016. we want to show you this start. hedge funds getting nervous about copper. they cut their long position in sinc to thest week lowest level since october 2016. concerns have been growing that efforts to force china to change its trading policies through tariffs risk escalating retaliation and crimping global economic growth. copper.nown as doctor let's get back to deutsche bank. those are the shares. john cryan is out after almost three years in the job. hiistian saving will take s place. matt miller is outside the deutsche bank headquarters with more. shares are rising. they are off of the highs of the day. what do investors think? what do analysts think about this new appointment deutsche bank has made? matt: it should be said they are not r

but it doesn't a nswer deutsche bank itself.n business live today. deutsche bank's shares sunk by close to a third this year. but interestingly they rose more than 3% in frankfurt — after news or the ousting emerged — thatjohn cryan will be replaced by co—deputy chief executive christian sewing, with immediate effect. for more on this, and other business stories, head to our website, bbc.co.uk. business royal mail chief executive moya greene could step down as early as this year, according to a report from city am. the newspaper said it was unclear when exactly greene would leave the ftse100—listed postal service, but that a source close to the board said an announcement could be made ahead of the company's full—year results on 17 may 2018. rolls royce's £610 million sale of technology firm l'orange has boosted its shares — it's flogging the fuel injection technology firm to america's woodward for £610 million. that's all the business news. stars of the stage, have been on the red carpet, at the prestigious olivier awards, the b

i'm joumanna bercetche these are your headlines deutsche bank sinks as it scales back investment bank warning it will reduce its work force after another sharp fall in trading revenues >>> barclays beats on the bottom line but litigation charges on both sides of the atlantic sees the bank's capital ratio fall. >>> shell falls after the oil giant reports weaker downstream and lower refining margins despite a strong rise in first quarter profits. >>> and vok vlkswagen shares dr higher after announcing they will partner with airbus >>> good morning it has been a busy morning as far as earnings are concerned. we'll get into that and look at how european markets are reacting to the huge earnings results we got this morning. it's also ecb day. best day of the month. but looking at the markets, you can see the handover from u.s. equities and asia was quite strong but overall the broad composite index is trading around flat if not slightly firmer, up 0.1% let's get into individual bourses. the ftse 100 is the laggard, down about 0.1%, about 10 points lower. let's not forget that happening tod

christiane's even knows deutsche bank from the inside out the new c.e.o. has spent thirty years there rising from financial adviser to board member so he knows what he's getting into the even replaces don't cry and who took over three years ago the englishman was able to settle numerous legal disputes he downsized the bank's underperforming investment banking division cutting jobs but years of fines and penalties drain business down. deutsche bank is in a permanent state of crisis under korean's tenure the bank struggled to contain its losses cutting those losses is kristan savings top priority now and that means he'll have to untangle his predecessor's mistakes most experts think that means deutsche bank will be returning to its roots in the traditional banking sector. and our financial correspondent daniel cooper is at deutsche bank headquarters in frankfurt daniel and you man in the top job effective immediately was the market reaction. yeah hi there helen well when you look at the share price of dog bank today it's actually the strongest performer at t

silly deutsche bank are strong in germany just clearly deutsche bank are strong in germany.: arjun bowry, thank you very much. busy week for european banks. we got the nordic banks, slightly tougher morning for those banks. we are going to bring you the interview for tidjane thiam just after 10:00 a.m. u.k. time. looking forward to that conversation with francine. tomorrow, we are been to bring you an interview with barclays ceo, jes staley. that is going to be interesting. we are going to be talking to the deutsche bank cfo in frankfurt. we are minutes away from the european open. we are going to look at the to watch at stocks the open, including whitbread. we are going to take away coffee here. costa is going to be the merged. the open is now nine minutes away. this is bloomberg. ♪ guy: six minutes to go until the start of trading. what stocks do we need to be watching? joining us now, paul jarvis. let's start off with whitbread. eliot said, you guys should have a take away coffee. you should take costa out of the business. management sucked their teeth and now they are do

so the new law at deutsche bank revive its fortunes. i've installed dalton to make amends for last week's disaster. i put on a masterful performance against got to him unbeaten in eight outings and will bring you the gold. i'm still going to welcome to the program. syria on its main ally russia blaming israel for an overnight myside attack on a syrian and base that killed at least fourteen people now this comes as international alarm grows on alleged a weekend chemical weapons attack on the former rebel stronghold of duma the next report contains images which you may find distressing. missiles flare in the dark hours of the morning according to russian and syrian military they were fired from two israeli fighter jets though israel has declined to comment the missiles found their target an air base in the province of holmes used by the syrian regime and its allies at least fourteen fighters were killed according to observers. days earlier bombs fell in the town of duma in eastern go to the last remaining rebel stronghold it's alleged the

are people also asking deutsche bank to break up?tail for deutsche bank? bank intoakup of the separate entities basically hasil and investment bank been discussed in investment bank circles for a long time. rumors pop up every now and then that this is something deutsche bank is discussing. interestingly enough it deutsche bank today came out with an opinion included in its extension of its agm agenda where it rebuts a shareholder's most demanding just that. that the bank should split up. deutsche bank argued that would and itot in its own foot would mean destroying shareholder value and it said even if there was any strategic idea possiblethis at the moment because it would take too long and be too costly. tom: is the delusion that they exit new york, do they run the u.s. equity business from the desk in london -- a desk in london? or do you just exit the business? >> i don't want to be a consultant here. it's probably somewhat -- i don't know for sure. i wouldn't be surprised if it is one of the scenarios under consideration. and t

deutsche bank abandons wall street. the new ceo says he is trying to sell job cuts, efficiency and decisiveness. draghi's tightrope walk. ending bond purchases this year. david: i'm david westin with alix steel. we have a busy morning. alix: 69 companies on the s&p reporting. we get half of the s&p by the end of the day. really good read on where earnings are. david: general motors is .eporting $1.43 a share they also are reported $36.1 billion in revenue compared to an estimate of $34.7 billion for the quarter. they say they have been profitable across all segments. some hint to cash flow because they were retooling for their big pickups which does affect the cash flow. we will be talking with chuck stevens in about an hour. alix: ups out with earnings as well. revenue really crushing it. $17.1 billion above estimates. their full-year adjusted earnings on the high-end is 7.37. the estimate was for 7.24. solid quarter top and bottom line. downtock unsurprisingly .1%. : there has been real pressure on margins because of

christiane's even has seen the dire strait of germany's largest bank from the inside deutsche bank'sew c.e.o. started out as a financial advisor at one of its branches since then he's climbed the ranks to join the board of directors so he knows what he's getting into georgia bank had hoped to make a name for itself in investment banking but the reality turned out quite different in securities trading the bank is still a straggler its investment bankers contribute too little to the bottom line while soaking up billions in bonuses each year but they've cost the bank a fortune in fines and penalties over the years and us president donald trump's tax reform will likely cost billions. and that's why a bank is in a permanent state of crisis it's been hemorrhaging money for the past three years stanching those losses as christiane's even as top priority and that means he'll have to untangle he's previous answers mistakes. and we can bring in steffen now from the frankfurt school of finance to talk to stephan di going to seen three top leader ship appointments in six years amid pressure from

the other one was deutsche bank.ou guys cover this in the finance section. >> the deutsche bank story has been one of the favored wall street stories to keep an eye on an kick around. it is a story of a company that tried to get really big, right? it was intended to be a european version of goldman sachs. and ever since the financial crisis, it has been receiving. the latest news came out last weekend. which was about the board reconsidering its ceo, and potentially replacing john cryan, which happened. and our story pick that up. because, it is, like, what is deutsche bank on to become? taylor: why did they go internally? they pulled someone from the outside. the new ceo has grown up in the ranks. >> yeah, he is like a homegrown guy. still worked in the same town he was born and raised in. so you cannot get more local than that, right? there is reporting about people is generally who were, like, who? it is an interesting choice. deutsche bank has always been somewhat hamstrung of this need to have a german ceo, or a

he has been with deutsche for years. will not make his task of raising of finances easier, and he knows it. in a letter published monday, he says there is no time to relax. shares have gone up and investors want to see revenue rise too. christian saving knows deutsche bank from the inside out. he spent nearly 30 years their rising from an apprentice to the head of auditing to board member, so he knows what he is getting into. he is taking overjoh john cryan. he cut jobs. years of lines and penalties drive business down. deutsche bank is in a permanent state of crisis. under cryan's tenure, the bank struggle to maintain its losses. cutting losses is the new top priority and that means you have to untangle his predecessor's mistakes. most experts think that means deutsche bank will be returning to its roots in the traditional banking sector. traveling to turkey is quite a good deal these days. the exchange rate of the turkish lira is hitting all-time lows in advance of new stimulus measures. this monday, a euro was worth m

if you want to hear it about the change of the boss at the deutsche bank, lots more details on oui’ deutschee. a fall afall in a fall in police numbers has likely linked to increases in crime, according to a home office and. the home office says it won't comment, and will set out measures to tackle crime later. jessica parker has more details. a boy goes out to sell drugs in derbyshire. gangs get young, vulnerable people to traffic drugs out of the cities to sell in the counties using dedicated mobile phones known as lions, it leads to explication and violent. after falling out with the gang, the body alongside his girlfriend is chased by gang members. he escapes. a police investigation seized nearly two d oze n police investigation seized nearly two dozen people sentenced. the network was designed to protect those higher up in the chain. the organised crime group individuals hold none of the risk. they are not going out and dealing drugs, not having to interact with other dealers and they haven't got drugs on their person. government has announced a creation of a new centre to co—ordinate a

a new ceo board names for deutsche bank.

the other one was deutsche bank.ou covered this in the finance section. >> the deutsche bank story has been one of the wall street stories to kick around. it is a story of a company that tried to get really big. it was intended to be a european version of goldman sachs. ever since the financial crisis, it has been receiving. the latest news came out last weekend. it was about the board reconsidering its ceo. and potentially replacing john cryan, which happened. our story picked that up, taylor: they focused on the new ceo who has grown in the ranks. >> he is a homegrown guy. it could not get more local than this. there is reporting about people internally. it is an interesting choice. deutsche bank has always been hamstrung on this need to have a german ceo, or someone who could speak german. it feels like there are boxes that have to be checked, and this guy checked all of them. maybe it wasn't the best, but it is the next step. carol: it is interesting. the company has gone through a lot. a revolving door. the ques

this is deutsche bank now.utsche bank is one of the banks that will be reporting. we have talked about the different banks that have reported so far really coming in strong with cost-cutting and trading revenue. deutsche bank will be of particular interest because they have had the recent change at the top, and their u.s. strategy will be in focus. look at the other companies that are reporting. oil companies are first among the area of focus, shell chevron, and if we go into the recent chart of oil year to date, you can see the trajectory where we are at the highest level of oil prices that we have seen. there should be a chart there possibly. you can see why with oil coming close to $70, there is talk of $80, a lot of rush into oil. a lot of focus on what the ceo's of the companies are seeing in terms of profits ahead. yvonne: and we are also about to hear from more banks and companies, coca-cola and starbucks which has been in the news. both of these have struggled when it comes to turnaround plans. su: yeah

of deutsche bank. the investment banking has been a cash cow for a long time not in the real recent years but for a long time for those about is it conceivable do you think that gets out of investment banking altogether. not altogether this would sort of change the whole business model of deutsche bank but this is if those rumors become a reality deutsche bank would definitely become a big more deutsche again you know concentrating a bit more on the markets here in germany with its corporate customers with its private banking division and getting out of this business this anglo-saxon business of investment banking that's also very expensive you have to pay those people a lot of money and that's been a problem recently for deutsche bank. they'll also be in new german operations boss the new c.e.o. will that make more german again and is that a good thing you think. well yes the name is frank. he will succeed kim hammond's you know that's the woman who called deutsche bank to be the most dysfunctional co

and a deutsche bank reporter. >> thank you.y, deutsche bank is not the only one with an outlook that is kind of glum. interviewed $3 trillion worth of insurance funds and found that they were more make it -- and found they were more negative. year of is the seventh the survey. vonnie: i find fascinating. when you take a look of valuations around the world, equity valuations, interest rates are low and credit spreads are tight. as we are getting closer and closer to a potential recession, the outlook is getting foggy or. and what company should be doing is getting foggier. >> what are they investing in and what are they avoiding? for the first time we surveyed, companies and the u.s. for the first time are taking risk off the table. in asia, it is still -- in asia, it is still positive. 10-year rates will rise between 3% and 3.5%. a bearded equity should still perform reasonably well somewhere between 0% to 10% as measured by the s&p 500. but to your question specifically, they are starting to reduce credit risk moving out of hi

is amongames candidates set to be configured to replace deutsche bank ceo john prior.wo day -- to take a veteran. veteran.ade what does this development mean? morning. it is another name that we can add to the list of potential candidates since the story broke that he may be replaced a week ago. i think this is another sign that the bank is serious and the germans are serious with replacing him to another -- with another person to bring the bank of forward. on the other hand, we see the biggest issue the bank has right now is in the investment banking unit and the struggle to begin market shares that they have lost over the last couple of years. charge for quite a while and was responsible for the lack of success the bank is experiencing right now. people are telling me it is not coming as a separate -- surprise that he met in the bridge of leaving. >> are the challenges for deutsche bank in finding a new ceo? >> that is a really good question. it is difficult to find a candidate. they're approaching so many people and no one right now is jumping out of their seats and

christiane's even knows deutsche bank from the inside out the new c.e.o. has spent thirty years there rising from financial adviser to board member so he knows what he's getting into the evening replaces john cryan who took over three years ago the englishman was able to settle numerous legal disputes he downsized the bank's underperforming investment banking division cutting jobs but years of fines and penalties drank business down. georgia bank is in a permanent state of crisis under cry and tenure the banks struggle to contain its losses cutting those losses is kristan savings top priority now and that means he'll have to untangle his predecessor's mistakes most experts think that means deutsche bank will be returning to its roots in the traditional banking sector. let's go of the daniel franco correspondent to talk about this daniel we've been talking about cried for years and how he needed more time he obviously brand out of that but was it mission impossible for the c.e.o. . oban one crime came he was hired to reform and to restructure and i guess an

go to deutsche bank. you have a report about how donald trump was ready to fire bob mueller because he had heard reports that mueller was going to investigate his holdings and his actions in deutsche bank. and it wasn't until his aides said well wait, that's false, he's not going to deutsche bank yet that donald trump relented and decided not to fire bob mueller. any idea, any reporting on what activity donald trump engaged in, with deutsche bank that is so horrific that it would make him risk his presidency? to try to stop law enforcement authorities from finding out exactly what he did wrong in dealing with deutsche bank? >> deutsche bank, we haven't had a lot of insight, in part because congress has not been willing to subpoena deutsche bank for records that they have. that's one of the things that -- >> why not? >> because it's a republican-controlled congress and i don't think they're willing to push that far. that's something that i think if you saw a change in you know, the democrats came into powe

absolutely down here in frankfurt for us at the headquarters of deutsche bank.l france's parliament is debating a controversial rail reform today amid continued strikes by employees of the state owned s.n.c.f. railway the reform bill is up third vote early next week and unions angry that changes could be pushed through by direct to curry which they say is on the democratic protests lead to numerous train cancellations on sunday yes since yesterday a new one in five high speed trains was running the government seeking to overhaul the debt ridden railway company and reduce costs passenger rail traffic is said to be opened up to competition starting in twenty twenty two and the monopoly over the s n c s public company. was back over sarah now anemones to investigators are still searching for clues off the tragedy but some details are beginning to emerge helena especially about this man who drove a van into a crowd in the german city of months or on saturday killing two people and injuring many more police saying that he was wealthy he had many run ins with the law

at deutsche bank, everyone saw the writing on the wall. vonnie: what do you know about ? vw will move forward is there a strategic plan in place? matt: there is a plan already put in place by the team. shareholders and analysts seem very happy with this plan. bloomberg news just did a piece where they called to shareholders -- and it is on the terminal on the ticker, and most of the people they spoke with said there is a plan in place, iess comes in,d he just has to expand on that. they have an electric version of every model out there that they have. in general, shareholders are pretty pleased with the plan. it seems that the government is pleased with it as well. mark: matt, great to see you. matt miller, of course, in berlin. does vw need a new chief executive? need a not think they new executive right now. i do think the transition with mr. diess, i think the transition would happen anyhow. we did reserve frustration when we spoke to mr. miller regarding the change. he is turning 65 it. it is good that it is happening now. it clears some of the uncertainty. mark: what

deutsche bank in the news. we'll talk about that in a second.ut it missed estimates across the board in the first quarter. 120 million euros, equivalent to -- what a wonderful stacked. increased revenue by 32% in the same period. a big turnaround to the company. the new chief executive, and abandoning the ambitions to become a top securities firm globally as it begins possibly the biggest sweeping overhaul. shares down by 1.3%. barclays beating trading expectations for a second quarter, driven by 28% -- driven by a 20% jump in revenue. -- driven by a 28 percent jump in revenue. the firm's involvement in past scandals it has promised to stamp out, still blemish what would otherwise have been a good day for the company. vw benefiting from record to be a the first quarter. it failed to entirely upset headwinds from a stronger e.u. and new accounting rules. shares up by 2.6%. the new executive stressing his commitment to higher profit adapts as he pushes to the world's biggest automaker to change. it is looking better than earlier. we have all three

deutsche bank is really very late in the restructuring process. the plans they are about to implement have been done by ubs, credit suisse, three, four, five years ago. when you look at deutsche bank and the product they delivered, they're a bank from basel 2, and they have to move on, which they have not done yet. i don't think they're like the rest of the european investment banks. >> clearly they're trading at a deep discount relative to their counterpart, but at the same time will investors buy into that story is it an attractive proposition for deutsche bank to go back and be more of a retail bank and a german investment bank >> it's a big move they tack about integrating deutsche bank bank, but that's been on the table for five years basically. it's not a question of strategic plans, but executing it properly for now it's an open question. deutsche bank is cheap, but profitability is week. they have a long restructuring process. it might be an attractive proposition, but the cycle will change maybe at that point regulation will have slightly

deutsche bank is one of the lenders.ses,at banks there seems to be a lot of our appetite toa lot of do this deal. 8 billion is not a small amount when it comes to any kind of loan. mark: thank you. up, the latest on cvs, viacom -- cbs viacom. vonnie: time for the bloomberg quick take. in south africa the new president has rekindled hopes in the country by cleaning house. foreign investors have piled into the country. whole show the fortunes are looking up ahead of the national elections. toer taking office he began crack down on corruption. it could take years to undo jacob zuma's legacy. unemployment will likely stay high. it leaves millions without marketable skills. they are also working to calm investors rattled by the decision to allow land grabs without compensation. majority in every election since the end of apartheid. his allies dominated the top leadership. support slip to an all-time low. voters ventured their anger on corruption and unemployment. pressured zuma to resign in february. there are some simple ste

and after three years of losses germany's top blender deutsche bank changes leadership once again after a string of outsiders the new c.e.o. is christiane suing who has been with the company for over thirty year says. also on the show we hear from members of poland's jewish community on how a new law on the holocaust is fueling a rise in anti semitism. and in sports dortmund make amends for last week's disaster against byron with a masterful performance against the. i'm brian thomas one welcome to the show. missiles have struck a syrian government airbase earlier this morning in the province of holmes killing fourteen soldiers now the u.s. is denying carrying out a strike this falls a suspected poison gas attack on the city of duma which killed at least forty civilians now the syrian regime and its allies deny carrying out that attack the u.s. meanwhile has warned damascus it would pay a big price if the allegations prove correct. these pictures appear to show as strikes on the town of duma in eastern. it's the last remaining rebel stronghold following a relentless russian backed onslau

francine: what about deutsche shares? davide: we do not purchase deutsche shares.e: what would it take for you to buy them? i do not believe deutsche bank would compete with investment banking in the united states i believe the company has got to invest in the u.s. meaning, deutsche bank is strong on global cash management. . investment banking equity, m&a from the u.s. because you cannot compete with profit.al he makes price the net profit year of markets today. the fact that you think you so, what iain -- think, it will convince me if the significant shrink costs the investment banks and we will refocus on the core business, which has nothing to do with u.s. investment banking. footage is your favorite stock right now? we own jpmorgan and yesterday you said they could grow regardless of the economic activity. when it was the $40 target price around $100, we still own it. milbank in the world actually has the numbers, not even ubs. so, it's the highest quality earnings you could find today. he will continue elsewhere on our london disk. c capitalith rb markets. le

let's talk deutsche bank. they have told us their profits have dipped 79%. is going wrong? they have been cutting bank on the number of staff and trying to turn the ship. many people are reporting record profits. that is a huge difference. they are not making as much money with savings and deposits as us banks would be. they have rising interest rates in the us. it also seems that some of the offering that deutsche bank has is just not fit exactly for what the market needs. they want to scale back their investments, scaleback bonds and focus on german corporate and corporate banking which used to be one of their historic strengths before they embarked on this expansion mission. let's move on and talk about our final story in the sun. i'm sure it is close to your heart as a german. wembley. the scene of so many great victories. apparently, there is a lot of fury. selling wembley stadium to the owner shahid khan. i'm sure you care. to be honest, i'm not really a football fan but i have been to wembley stadium. england against lithuania. that was an english vic

deutsche bank is replacing its ceo.prine is touting christian silliness taking over. 47-year-old executive has hurt for deutsche bank for nearly three decades. they've been struggling since the 2008 financial crisis. the change will put up a potential merger with another european bank. the deal of the pharmaceutical industry. novartis is buying the u.s. company. the price tag only $9 billion. the sale of one promising drug developing to treat spinal muscular atrophy will turn into a pot tester and that is what is happening now. lauren: we are also pressing this morning how investors would respond if the u.s. launches a military strike against syria. gary b. smith, and sean o'hara at pacer etf join us now. good morning, gentlemen. good to see you. >> good morning. this rhetoric for the most part from the u.s. could be a big and ugly conflict. how would you expect u.s. investors to respond because teachers are falling 200 points. >> yeah, initially i don't expect any response. we've been down this road before with this ra

deutsche bank is in a permanent state of crisis under cry and ten year the bank struggled to containits losses cutting those losses is christian savings top priority and that means he'll have to untangle his predecessor's mistakes most experts think that means deutsche bank will be returning to its roots in the traditional banking sector are you didn't monday night's bundesliga match leipzig locked horns with labor who isn't only separated by a point in the standings both clubs currently qualify for europe but both are keen to climb to the top of it the champions league next season it was a four goal thriller the last time these two faced off let's see if tonight's clash was just as exciting. leipzig drew first blood with their fearsome attack marcel beats or firing in a rocket in the seventeenth minutes. leverkusen keeper banjul a no no match for this one. but just before half time laver cousins chi habits netted a beauty of his own to level the score at one all leon bailey with the assist and a fine finish from have it. and soon after the restart leverkusen struck again you only ha

a student of europe with deutsche bank.ope seem to be rolling over. this is as good as it gets for a new, better europe? >> yes indeed. i believe european growth is at an inflection point. i don't think it's going to go south but it will level loss. it definitely is an inflection point. i think the election in hungary is rather interesting. if you watch the news by :00 in the evening the commentators were still thinking that perhaps there would be an upset victory for the opposition. far removedhow how from the day-to-day workings or thinking of the european population the news and the eu tends to be. i think the two thirds majority is a serious indication of the problems in europe. likewise in italy of course. we are seeing a push in a way of the social democratic center. the social democrats across europe would be reduced to below 20%. that creates a real vacuum that has to be filled. right now it is being filled on the right. the center isn't really there. dogmasn't have a clear and policy proposals that are generally ac

deutsche bank is in a permanent state of crisis under cry and ten year the bank struggled to containits losses cutting those losses is christian savings top priority and that means he'll have to untangle his predecessor's mistakes most experts think that means deutsche bank will be returning to its roots in the traditional banking sector which night police in germany say that three people are still in critical condition after saturday's deadly van attack in the western city of munster investigators say the driver did not have a permit for the gun which he used to kill himself at the driving into a crowd outside a bar in the old town two people were killed dozens more injured police say the forty eight year old attacker appears to have had mental health problems. all right in sunday's buddhist league action a dortmund take on stuttgart looking for redemption after losing six no to buy in munich last weekend but as for that he said later they hadn't expected to win in munich anyway so i don't mean went into yesterday's game home game against a gut feeling confident despite the fact tha