information on this from stacy harbor well we began this week with a new bad bank and that is for deutsche bank's bad bets they're going to be poor and into a new bank a bad bank that the taxpayers of europe will now be responsible for busy a 50000000000 euro bad bank soon owned by the german state aka taxpayer finally deutsche bank is facing its future head on what's left of the mighty deutsche bank that's the front page of the financial times on monday and it was that announcing what we suspected would happen 10 years ago when we 1st started for all those happy days ago you know they got the lehman brothers collapse happen you know and that was the result of insolvency but we were told that it was a problem of illiquidity and we were told that lehman brothers and bear stearns and the wall street banks had done nothing wrong that it was just crazy unfortunate freak accident that they ran out of money suddenly because of all the bad loans that they made to people that couldn't possibly pay them back and that they taxpayer in the global economy should take a step back and 17 or 18 trillion

on your farm has your next news bulletin in an hour's time but 1st germany's deutsche bank is in deep trouble that's coming straight away and today's. oh i there guys a report here i guess while we were writing. i don't know if you're taking notes about this stuff but there seems to be a divergence between what you hear on the mainstream media c m b c c n b c and what we say on this show one tour the true. reality what actually happens. one tends to be fantastical poppy cock spewed by overpay parrots that would not be yes. let's get more information on this from stacey harbor well we began this week with a new bad bank and that is for deutsche bank's bad bets they're going to be poor and into a new bank a bad bank that the taxpayers of europe will now be responsible for a 50000000000 euro bad bank soon owned by the german state aka taxpayer finally deutsche bank is facing its future head on what's left of the mighty deutsche bank that's the front page of the financial times on monday and it was that announcing what we suspected would happen 10 years ago when we 1st started for all tho

only keep money in deutsche bank you're willing to lose the banking system is about to implode we're on the cusp of of a nightmare. it's easy to predict if you're willing to look at some simple facts this show kaiser report has been airing for 10 years we started back in 2009 during the midst of the crisis this is the deutsche bank share price this is in 2008 down to 2009 while all the intervention by the central banks as been keeping some of it afloat now down to 95 percent since this 2008 high one thing that has been happening since the beginning of the financial crisis this early on we had this debate of inflation versus deflation. you know we had a split evenly split between our guest some said it was going to be inflation some said it's deflation certainly this shows that we've had deflation across europe for the past 10 years there has of course been inflation in the select assets own by the top one percent on on whose behalf that central banks operate so you've had high and property prices in all the major cities around the world busy you've had the value of our prices and you

bank is facing its future head on what's left of the mighty deutsche bank that's the front page of the financial times on monday and it was that announcing what we suspected would happen 10 years ago when we 1st started for all those happy days ago you know they got the lehman brothers collapse happen you know and that was the result of insolvency but we were told that it was a problem of illiquidity and we were told that lehman brothers and bear stearns and the wall street banks had done nothing wrong that it was just a crazy unfortunate freak accident that they ran out of money suddenly because of all the bad loans that they made to people that couldn't possibly pay them back and that they taxpayer in the global economy. take a step back and 17 or 18 trillion dollars needed to be printed to bail out warren buffett to bail out wall street banks so that they could keep their yacht payments going and buy. you know billionaire row apartments in new york city for $250000000.00 as we've just seen recently or to invade london and buy properties for $120000000.00 that's money that was given

let's get back to deutsche bank. reports out that deutsche bank is preparing to cut as much as half its global workforce in equities trading, part of a broad, another broad restructuring to boost profitability. bloomberg's german banks reporter joins us from frankfurt. what are the details of what we know about the equity business? guest: it is clear that the cuts that have not been decided yet and have not been announced yet they will focus on the business outside europe. the whole plan is part of an overall strategy to focus on deutsche bank more in europe. the parts that are considered less metal will bear the brunt best less vital -- less vital will bear the brunt. the question is how much of the equities business will still remain at deutsche bank. guy: are they done in equities? is that it? guest: pretty much in the u.s.. i think what they will likely still do, we have indications that they will keep intact a skeleton operation to still be in want to service european large clients. for example if they have any

they are the bank regulator for big banks like deutsche bank.bank already has a dismal track record when it comes to antimony laundering activity. they've been penalized many times and now we have a report from the specialist at deutsche bank hogue track antimony laundering activities. they were filing preparing a suspicious activity report about these trump-related entities and they were overturned by higherups and not higherups in the chain of command. higherups outside the chain of command in the private banking section of deutsche bank, the folks who deal with people like donald trump and so the federal reserve really has as obligation to open an investigation into this matter. and hold deutsche bank accountable. >> i just want to read some of the questions that you're asking the federal reserve on this in your letter, you say has anyone from the white house or the department of the treasury communicated with the fed board or the new york fed regarding deutsche bank including instructions related to the release of documents to congress or to

job cuts are underway at deutsche bank. they are such to cut half of the global force in equities trading. they are expected to start informing staff of the cuts next month. the presidential debate may have been the breakout moment for kamala harris. she put joe biden on the defensive over race. she took biden to task for calling on his relationship with segregation senators and she tried to step above the fray as candidates interrupted each other. [crosstalk] what, america does not want to witness a good fight, they want to know how we will put food on the table. >> she has struggled to catch fire in the campaign, she is aggressively courting black voters. and vienna is hoping european countries will step up to help iran save the deal. a handful of nations say there is a get to be finalized trade mechanism. global news, 24 hours a day on air and on tictoc on twitter, powered by more than 2700 journalists in more than 120 countries. , this isy leinz bloomberg. guy: thank you. final stage,up the stocks and bonds combined at

that's more than twice the market cap of deutsche bank as an entire entity, right? so as an investor -- you see these types of numbers, do you think obviously the opportunity is attractive for me as an investor from a dividend perspective, from a buyback perspective to be invested in u.s. banks and not european banks? >> yes i think the u.s. banks are in much better shape than european banks and have more solid footing. the u.s. banks trading typically at price to book value of 1.2 compared to 0.5. there are reasons for that reason is that the business position is in a much better shape. the banks as a percentage of gdp, about 300% of european gdp here they're in a better position to grow that business despite the flat yield curve they have been buying the stock back >> it's an interesting statistic. you said 300% of european gdp is the size of the european banking system, that's why it's so important for our friends at the ecb. this latest announcement, what do you make of it? >> disappointing >> why >> i think one, the size of the banks are huge, they're impacted

. >> coming up, deutsche bank sticking to a new all time low today but one top analyst says it mightot be as bad as you think. plus dennis muilenburg telling cnbc the 737 max could be up by the end of the year. ♪ limu emu & doug mmm, exactly! liberty mutual customizes your car insurance, so you only pay for what you need. nice! but uh, what's up with your partner? oh! we just spend all day telling everyone how we customize car insurance because no two people are alike, so... limu gets a little confused when he sees another bird that looks exactly like him. ya... he'll figure it out. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ >>> welcome back to "fast money," banks across the pond seem to be in crisis mode and things might get even worse for these financials dom chu is in the news room. >> those european banks, melissa, have had a rough go of it it's been a longer term trend for some of the most embattled european financials, look at shares of deutsche bank, it's lost 16% of its value year to date, lost around 39% of the its value in just the last 12 months an

deutsche bank had a surprise pass.tzerland is set to block trading of its shares in the eu after treaty talks with russell's failed -- with brussels failed. matt: good morning. i want to draw your attention to something that is market related but not a driving force. still, i think an incredibly interesting move. this is just a three-day chart of bitcoin. we started at $11,000, went up to $14,000, then back down to $10,000. just massive moves. gratzrd from michael nola that he had wished he sold more on wednesday. his comments could be one of the things that weight on bitcoin in yesterday's session. incredible to see a 30% moved in the price of bitcoin. we see a mixed picture if we look at european futures just about 30 minutes away from the start of trading. dax futures are gaining right now. you will see that cac and ftse futures are down. not big movements in terms of any of the futures. we will have to wait and see which way markets go today. maybe traders will be sitting on their hands waiting for the result of th

is deutsche bank popular? it is a smaller bank. deutsche bank is still big in germany.ed pan-european focus. lost a long time ago. the volatility in trading, margins only go one way. move that way. francine: what happens to the chief executive? will we hear from him in the next few months? jonathan: i think about barclays' jenkins. wholesale banking problem. if he does not say we need to change the game, he is not the right man for the job. if that is not the story, he is not the right guy for the job. in general, how much does this have to do with the ecb? , even ifhese banks they do a better job focusing on the business model, are catching a break. shows thathink it there are side effects of negative rates and low rates. the nonfinancial sectors, but the financial sector profitability is impaired by where rates are broadly. interestingks to an aspect of this rally we have had your to date. ands led by defenses quality stocks, not by cyclicals or financials, not the things that usually signal a stronger and longer running bull market. that is a risk over the summer, if

bank and also the credit rating of deutsche bank has suffered pretty much so deutsche bank really had to do something in order to increase the quality of its capital this is what has happened the capital buffers have been increased and now inside as a deutsche just say that the bank has the capital and liquidity quality to really make this step to get rid of those you know owed assets beforehand it would have been able to do so you're gonna you mention the problem with the banks credit rating it's long been considered a takeover candidate what's it looking like right now. it's become less likely that the bank gets some sort of takeover offer a such a takeover offer would also have to come from outside germany here in germany we don't have you know banks that would be able to afford such a takeover but also you know banks outside germany know that having the word deutsche in its name is you know a bit of a protection for the bank this brand name means that though it really has to be managed from inside germany and cater to its german clients conrad thanks so much for that update from f

well the share price of deutsche bank is on the rise this monday so obviously few investors out there believe that there's no reason to worry because of this new bad bank and you know get hurt and like the last bank that deutsche bank had put in place between 20122016 this new bad bank it's not supposed to contain toxic assets assets that the bank is unable to sell on the financial markets because nobody wants to buy them no the assets in this bad bank you can sell them on the markets but they have become useless for a bank because of their more stringent treatment under new regulations introduced after the financial crisis so the fact that the back is getting rid of them here is actually positive it means that the bank will become a bit less risky bit safer but is there any hope you're measuring that the share price is slightly on the rise today is there any hope the dodge's share will ever return to its former glory of 100 plus euros. heart you will not get a recommendation from me not only because i'm a journalist i'm not supposed to give recommendations it's very very difficult to

deutsche bank may exit its u.s.a bad bank to wind down legacy assets. bloomberg learned that is all part of a broader overhaul to be announced next month. the bad bank could hold up to 56 valiant dollars -- $56 billion of weight risk. that is the bloomberg business flash. tom: thank you so much. i look at deutsche bank and what we covered this morning, the follow-up to what the ft was writing. my basic take is what are they waiting for? francine: i think that is everyone's basic take away. if you look away boy to bank now says, considering it is looking revamp, at a shareholders want to know where they are cutting and how much they are cutting. for the moment the answer is pretty slow in coming. tom: this is industrials. not a big deal. a lot to chat about. no crane to go after sir corp.. that is all fine and well but maybe this is what is the coming cancer therapy. arry.are 298 employees at they are being taken up by rmous amount ofno money with a 62% pop in the stock this morning. i'm not sure what that valuation

this is deutsche bank doing its bit. steven: right.t's a natural thing to do if you want to cut a certain area of the bank. it's a natural position to take assets because of how the businesses are closing or shrinking. you put them into a bad bank because it changes the way you operate. if they are in investment bank, people have incentive to work with them if they are profitable. it's an accounting thing and changes the way you work with the stuff in there. matt: how soon do you think we're going to hear about these possible closures, and what would that do to their payroll? they've got 93,000 employees now. if the close equities and rates trading outside of germany, does that cut that number, substantially? steven: it doesn't make a huge dent in the payroll. it does, probably, change the way the cost structure for the investment bank. but that's why the non-core unit. you can just cut the people if you still have assets on the balance sheet that costs money. you have to do it in one go. the two things, two sides of the same coin, and

anna: deutsche bank is considering a senior job shakeup.s as the ceo is purging executives under his predecessor. he is considering replacing his finance chief and investment banking head. this must make uncomfortable reading for senior executives over at deutsche bank, but will it come as a surprise? steven: it does come as a bit of a surprise. there has been a lot of speculation about the investment banking head. he was on his way out last year and then instead got off on a -- offered a promotion. he has stayed on since. the cfo speculation is really new. it is a big surprise and , definitely they are considering a big shakeup and we will have to see if it turns up as big as he's considering. guy: deutsche bank reportedly facing criminal investigation in the united states over money laundering allegations. according to "the new york times," authorities refused to comply with laws meant to stop money laundering and other crimes. some of the transactions been reviewed are linked to president donald trump's son-in-law, jared kushner. what is

anna: deutsche bank is considering a senior job shakeup . the ceo is purging executives under his predecessor. he is considering replacing his finance chief and investment banking head. this must make uncomfortable reading for senior executives over at deutsche bank, but will it come as a surprise? steven: it does come as a bit of a surprise. there has been a lot of speculation about the head he , was on his way out last year and then instead got off on a promotion. he has stayed on since. the cfo speculation is really new and is a big surprise and , definitely they are considering a big shakeup, and we will have to see if it turns up as big as he's considering. guy: deutsche bank reportedly facing criminal investigation over money laundering allegations. according to "the new york times," they refused to comply with laws meant to stop money laundering. some of the transactions been reviewed are linked to president donald trump's son-in-law, jared kushner. what is new here? sree: this is one of the strands trends of several overlapping inves

. >> mass protests in hong kong keep pressure on the government, more changes for deutsche bank. president trump and president xi confirm they will talk at g20. >> they have the ability to reset expectations. >> the boeing ceo speaks frankly about industry issues. >> we are going deeper than normal and i think that is good. we encourage that. >> there is always politics in the background steady. , you need to keep going >> plus, facebook reveals the project that goes beyond social. the coo says the company is ready to embrace it. >> companies like ours should not make as many decisions as we do, we know that. >> it is all straight ahead on "bloomberg best." ♪ emma: hello and welcome. this is "bloomberg best," your weekly review of the most important business news and interviews from bloomberg television around the world. let's start with the day by day look at the top headlines and last week's protests against an extradition law in hong kong continue over the weekend. the government responding to extreme public pressure. >> hong kong's leader made a rare apology over her proposed

one judge ordered they are valid and deutsch bank has to comply. trump and his lawyers are trying to get the appeals court to stop and block the subpoena and stop deutsch bank from handing over his records. they protested and the "new york times" reports what starts as a russian moan laundering investigationa at deutsch bank has been an investigation into something very specific and related to high ranking white house officials. it is become an investigation into whether or not deutsch bank broke laws or had crimes in suspicious activity reports that its employees prepared about possibly problematic transactions include being some linked to president trump's son-in-law and senior adviser, jared kushner. both the kushner family real estate business and the president and the president's businesses have been deeply involved in financing deals with deutsch bank. the time his previously spoken with whistle blower who is allege deutsch bank employees flagged transactions involving the kushner family business and trump business entities flagged them as po

the fbi identification of deutsche bank is following a similar track to two committees. house oversight and financial services committees. both of those are investigating deutsche bank's relationship to the president and his family including records connected to the bank's handling of potentially suspicious transactions. politico reports in total, trump faces at least 15 criminal or civil inquiries by nine federal, state, and local agencies into his business, his charity, his campaign, inaugural committee and personal finances. in a closed door interview with house judiciary committee today, a white house lawyer and justice department lawyer advised former white house staffer, hope hicks, not to answer questions about anything involving her work in the white house. hope hicks who no longer works in the white house followed the advice of the white house and justice department lawyers and refused to answer such questions. >> so they are preventing her from talking about anything? >> anything related to her tenure at the white house. absolutely. even something as simple as

deutsche bank may exits u.s.ading business and create a bad bank to wind down legacy assets. bloomberg has learned that is part of a broader overhaul to be announced next month. the bad bank could hold $56 billion of risk-weighted assets. another turnaround plan after years of failed efforts for deutsche bank. sales of closing retailer h&m the sweetest company has been trying to reduce a buildup of inventory to end a slump in earnings. h&m has struggled because it's clothes fell out of favor with shoppers and has been investing heavily in online. aftershocksng the from the chief economist use of the phrase chinese pig. a chinese corporation has decided against hiring ubs for dollar bond sales. bloomberg has learned that was prompted by the pig remark. that is your latest bloomberg business flash. time for the stock of the hour. , sharesarray biopharma of nearly 60% after pfizer agreed to buy the company for $10.6 billion. kailey leinz is euros more. what does it have that pfizer wants? kailey: it is all about can

it includes a review of deutsche bank's handling of so-called suspicious activity report that is the employees prepared about possibly problematic transactions including some links to president trump's son in law and senior adviser, jared kushner. according to people close to the bank and others familiar with the matter. the "new york times" report that is the fbi recently contacted the lawyer for deutsche bank, whistle blower, tammy mcfadden. a former specialist at the bank told the times she flagged transactions involving mr. kushner's family company and that bank managers decided not to file the suspicious activity report she prepared.th the fbi identification of deutsche bank is following a similar track to two committeesg house oversight and financial services committees. both of those are investigating deutsche bank's relationship to the president and his family ip including records connected to the bank's handling of potentially suspicious transactions. politico reports in total, trump faces at least 15 criminal or civil inquiries by nine federal, state, and local agencies int

guy: more woes for deutsche bank.ent and former employees are being investigated by german prosecutors, accused of being part of an alleged tax fraud. joining us from frankfurt is steven arons. 80 sounds like a big number. how many of these people are at risk of prosecution? i am wondering how many of these to find their eyes under german prosecutors. what deutsche bank has said about the probe is probably very true. they named everyone basically in the probe. anyone named in any document they have, so it is very hard to fit any of the people who will actually end up adding their verdict. we don't know yet, but it is interesting and an important developing for the bank, showing how much it still continues to suffer from all of the legal woes. allegedlyese frauds took place between 2011 and 12 yearsch was now ago. is it a stretch to suggest there might be political reasons behind this? guy: it is a tricky legal situation. were deals at the time claiming tax refunds from states , you only paid one, and he prosecutors no

one federal judge has ordered those subpoenas are valid and deutsche bank has to comply. trump and his lawyers are trying to get this appeals court to stop that ruling, to block that subpoena, to stop deutsche bank from abandoning over his records. now david n. rich and william rushbaum report what started as a russian money laundering operation at deutsche bank has now become an investigation into something very specific and related to high-ranking white house officials. it has become an investigation into whether deutsche bank broke money-laundering laws or committed other crimes in what are called suspicious activity reports that quote its employees rathered about possibly problematic transactions including some linked to president trump's son-in-law and senior adviser, jared kushner. both the kushner family real estate business and the president and the president's businesses have been deeply involved in financing deals with deutsch bank. the "times" had previously spoken with whistle-blowers who allege that deutsche bank employees had flagged transactions involving t

amanda: what about deutsche bank? rumors of job cuts. ? anything that we know now that we did not know before about how they stand >> we know the extent of the job cuts and when they will happen. until now it's been a hypothetical. thinking of cutting equities. now we know that there will be hundreds at the very least globally, especially in the u.s., where they will be scaling back on equities, according to people familiar. taylor: talk about that 20,000. they say it is global. where should they be targeting given there are varying degrees of profitability between the u.s. and germany, for example? you are0,000 figure referring to was reported in the journal today, something that is over a number of years, and it is still a hypothetical. already,you can see the u.s. is cutting equities, at the investment bank in particular. there will be cuts in asia. this goes along with the global theme of deutsche bank that it is retreating to become more of a german player. taylor: we look forward to those earnings in a few weeks from now. now, of cou

from the fed to the feds they're reportedly investigating deutsche bank for alleged violations of money laundering regulations according to the new york times a probe is underway as to how the bank handled transactions labeled suspicious by employees think good some linked to donald trump's key advisor and son in law jared questioner a former employee told the newspaper that the bank failed to file a report with the u.s. treasury even though she flagged some questionable activity surrounding kush 1st company account back in 2016. joins us from frankfurt so this is more bad news for deutsche bank can you tell us more about the transactions being examined in the probe. more bad news for doj a bank and i guess i can tell you know that traders here in the financial world in frankfurt are used to these very bad headlines but this headline could really bring the lender even more in trouble because it is related to the u.s. president we have to remember that donald trump has been creating of all his financial situation quite a mystery during his campaign but also during the last year which mad

there in frankfurt for us for deutsche bank is headquartered thank you very much. washington has once again weekend a clean air measure put into place by the previous obama administration the new rule announced today by the country's environmental protection agency dials back emission reduction goals and older dirtier factories on line longer. protecting jobs in the coal industry was one of donald trump's campaign promises the us president on at this pledge with the introduction of the affordable clean energy rule individual states can now decide for themselves whether to upgrade efficiency measures at existing coal plants rather than punishing us production in the marketplace to chinese coal which is what the obama plan did we are leveling the playing field and encouraging innovation in technology cross the sector we set the gold standard for cleaner technologies here in the united states if we don't develop the next generation of clean coal technologies here in the u.s. no one else will present than call the e.p.a. chief andrew wheeler a former coal industry lobb

he certainly hope it is closer to jpm then deutsche bank, right -- than deutsche bank, right? as comfortable as we will get to 9%. they have said they will cut costs, if need be. jpmorgan is trading at nearly two times tangible. looking at deutsche bank am a they are trading at 0.25 times. so looking at performance, barclays is top five or top six. it is taking share in equities. -- it is still trading becoming a headache for the ceo. matt: does barclays needed to do -- does barclays need to do more on costs? >> actually, they look in line and are not that far off jpmorgan. when you look at the amount of , looking at the revenues they generate, optically, it is much, nearly half what they are making in america. but can they turn it from a flow machine with low margins? can they improve the margins on european-u.s. underwriting? if you can, then i think he can maintain the momentum. but he does need to squeeze that margin. elsewhere, they are still quite a long way behind u.s. peers. matt: but you are saying there is a chance for barclays. i wonder what you think about deutsche

david: all of them past, including deutsche bank.gial: a stamp of approval for deutsche bank despite the headlines. we have one of those again today. passing the u.s. stress test and capitalized well enough to pass along capital to shareholders. david: thanks to abigail doolittle. now let's focus in on deutsche bank. not only did they pass the stress test. lots of news out of deutsche bank. sonail: it is every day. leastay be cutting at half of their global equity staff and cutting rates as well. people will start knowing about whether they will be there or not in the next couple of weeks. it is certainly news, you've been hearing about it for a while. it is more definitive now but what we are looking at is more of the structural plans closer to the end of the month. david: their stock is up about 3.3% at the moment. how much is because of the layoffs and how much is because of the stress test? sonali: probably a little of both. people want decisiveness as to what the bank will look like. the stress test helped. it was years of faili

jason johnson, donny deutsch back with me.mments and how strategic mitch mcconnell is whether you like him or not. >> two, what coats said is true, brilliant, factual. you know everything about how the republican party feels. democrats put up economist, phd, brilliant writer. republicans put out columbia junior and an nfl player from the 1907s. the absolute refusal to even have discussions, this is just a bill to research it. >> have a discussion. >> people don't realize, jason, this is just for a bill to discuss how do we improve things. >> mitch mcconnell's attitude is i don't care because mitch mcconnell isn't overly concerned about the lack of humanity large swaths of america are perceived. reparations are not just an issue about feeling good. i don't care about feeling good. i feel about a nation that is justified in its behavior. i feel that a nation should treat me and people that look like me fairly. this didn't end with the civil rights movement and martin luther king killed massive discrimination in our economy, gove

woes mount for deutsche bank. the troubled lender is facing a criminal investigation for potential money laundering lapses as another key player is set to depart among the senior leadership shakeup. ♪ nejra: welcome to daybreak europe. just after 6:00 in london. did powell deliver? the bond market seems to think so. we close tire on the s&p 500 in yesterday's session. we are on the front foot with futures. we will get to that in today's session. yield dipping below 2% for the first time since 2016. down another four basis points. curve flattening. the dollarr and weakened. down for a three day. that following u.s. yield lower. gold jumping to a five-year high. is it overboard? uti firmly on the front foot. 44.pot let's get a check on the markets in asia with juliette saly in singapore. great to have you with us. the divergence between the bond and equity market reaction was intruding -- interesting in the u.s.. i we seeing a similar thing in asia? juliet: bonds moving higher. yes, yields are dropping here. equitie

there were rates on the deutsche bank offices because of -- raids on deutsche bank offices because ofse. he is now reportedly included in that investigation. what role he may or may not have had in that, but garth ritchie is under seizure. deutsche bank is having a really hard time of it. their stock is down. it is really quite stunning how far it has fallen. one of our viewers wrote in and said why aren't you paying attention to the difference between market cap on deutsche bank and twitter? twitter has more than twice the market cap of deutsche bank. who would've thought? >> a big bloomberg scoop, boeing is said to be negotiating one of the largest ever orders for twin aisle planes with china. the deal could include about 187 dreamliner's the 777, the newest and most expensive long-range jets in the catalog. however negotiations could stumble on the escalating trade war. let's cross to our aerospace team leader who joins us there. this headline is pretty surprising to me. one, you have the continuing trade tensions between the u.s. and china, two, china was pretty active when it cam

had a whistle blower from deutsche bank. this was someone that was a specialist for identifying money laundering. she flagged certain transactions from trump controlled entities and she was preparing to file suspicious activity reports and her higher ups at deutsche bank squashed it. they weren't in the chain of command they were in the private banking part of deutsche bank. so what we asked chair brown, senator warren and others of us on the banking committee have said to the federal reserve and the federal reserve bank of new york that is supposed to oversee deutsche bank, we want you to investigate. do your job -- >> what's it going to take to make that happen. >> we're going to stay after them. i wrote to them last year asking for assurances that they would remain independent and they would do their job, this is the federal reserve with respect to overseeing deutsche bank. they wrote me back saying absolutely they will investigate when there's evidence of wrong doing. they're an independent body. so this is their test. t

, tweeting "little donny deutsch, whose show, like his previous shoebiz tries, is a disaster --" shoebiz? really? i've heard it's hard to break into... "shoebiz ( laughter ) (as old timey producer) "i'm sorry, kid. i know you wanna be a star, but that's a croc. you haven't got a chance. in heel. let me give you some wingtips: stop loafering around and find a new balance. now, if you'll excuse me, i got an appointment with doc marten. ugg!" ( ughter ) ( cheers and applause ) sometimes you've just got to take a victory lap, jon. >> jon: right. >> stephen: trump is upset at deutsch because donny "has been saying that i had been a friend of his. this is false." i agree. it's just not believable that donald trump has friends. ( laughter ) apparently, trump was responding to deutsch saying this on saturday night: >> speaking of the trump organization and bankruptcy and i've known trump well for years and i believe it's a criminal enterprise. >> stephen: okay, that's not very nice. ( laughter ) very accurate. but not nice. ( laughter ) here's the thing, though: deutsch's audience on msnbc avera

deutsche bank is considering a 50 billion euro buyback. and the absence of boris johnson steals the show as u.k. prime ministerial hopefuls hold a debate. suspension ofhe parliament causes the most friction. a big climb down. the governor of hong kong's executive council has told bloomberg the extradition bill that has sparked protests is essentially dead. >> it is not a good time for any discussions because it is so polarized. to cool offers before we can talk about any chance of a dialogue. >> are you saying the bill is essentially dead? >> yes. the chief executive made it very clear. this is a suspension indefinitely. host 1: the chief executive announced saturday the legislation is on hold. yvonne man is live for us in downtown hong kong. what is happening there right now? yvonne: rain has started to come down here in hong kong so some of the protesters are taking cover outside of the legislative council building. government headquarters. it is closed for today. this is after they retreated from some of the key arteries this morning. ,

are your biggest concerns for deutsche bank?t do you think the biggest challenges are faced by the german lender? question: the downgrade saidcted our view as you that the bank continues to face challenges in stabilizing its business model and in improving its profitability. deutsche bank targets a return of tangible equities of 4% for 2019. after the first quarter results were earnings were hit by the week markets, we believe that will be difficult to obtain. more important, that means reaching the longer-term target of 10% is quite far away. the question here is is the business model being put on a sustainable way? anna: good morning. you talk about what the management had to say about changes but you seem to be skeptical that further restructuring can be implemented. why the skepticism? evolvingour outlook is and that shows that we believe the rating will change in either direction, up or down over the next 12 to 24 months. management has made announcements that they are focusing on profitable as this is that they are willing

kathleen: deutsche bank planning for cuts. there'll likely be less u.s.es and a plan to wind down unwanted assets. this after the c.e.o. took over last year and included a 25% reduction in exquestion wiities trading paul: sotheby's sold the most ever on news it's being bought by french telecom's billionaire patrick drery. it will result the company going private and make the top two auctioneers french owned. sotheby's has had issues even as masterpieces and contemporary works hit auction records. kathleen: airbus locked in orderses for $13 billion of new jets. the announcement encludes an $11 billion for air lease for new anes such as the longer hall xl3ren which can cross the atlantic and is raising pressure on boeing. irgin wants eight twin-aisle a-330's. coming up in "day break asia" we'll talk to the head of u.s. equities. paul: that's it for "daybreak australia." this is bloomberg. ♪ the latest innovation from xfinity isn't just a store. it's a save more with a new kind of wireless network store. it's a look what your wifi can do now store. a get you

we're looking at five euros, $.94 for deutsche bank, a three-month chart.k you about that right now. -- i'm not going to ask you about that right now. yet another new low in deutsche bank stock. stephen isaacs is going to stay with us. we have a lot more to talk about with stephen. up next, we bring you the stocks on the move other than db kay, including i fx, infineon on. it is buying chipmaker cyprus in a deal that values the u.s. target at 9 billion euros, just under 24 euros a share. this is bloomberg. ♪ anna: welcome back to the european open, 12 minutes into the trading day. this is the big picture. if you are long the market, it is not pretty. the ftse 100 down 9/10 of a percent as the dax down 10%. let's get your individual stock movers. dani burger has those for us. dani: big movers this monday. infineon on, on reports from bloomberg's, looking on buying cyprus semi. the deal would be valued pretty heavily, almost $10 billion is what they would be valued at. we usually see the fault anyway, but perhaps they are paying too much, 50% premium over the

deutsche bank up remarket over 1%.d trigger cut their equities trading business -- wonderuld -- you might -- apparently they needed to build up some buffers to make the switch which is what took them so long. these assets still have some kind of cash flow. david: one of my questions is do they have the capital to get this done or do they have to have a capital raise? it costs money when you start spinning stuff off. 20 billion euros in cash and other liquid securities that they could run down. it depends how much that would cost. my question is 2012 to 2016, they had a bad bank, but apparently those loans were more toxic than these. david: i guess with the bad bank there can be a lot of long-term derivatives. i am surprised that 10 years after the financial crisis deutsche bank still is a lot of long-term derivatives that are questionable. i think they got -- i thought they got cleaned up. alix: the toxic ones got cleaned up, but it is interesting to see how the debt will trade. a bloomberg intelligence analyst said th

. >> deutsche bank once again back in the news.he head of the investment bank last week because at the head of the general meeting, he did not get a resounding vote of confidence from the shareholders. now the reports are that he is included in this expanding probe. there were rumors of raids on deutsche bank offices because of allegations of tax abuse. he is now reportedly included in the investigation. what role he may or may not have had in that, but garth ritchie is now under seizure. deutsche bank is having a really hard time of it. it is really quite stunning how far it has fallen. one of our viewers wrote in and said why aren't you paying attention to the difference between market cap on deutsche bank and twitter. twitter has more than twice the market value of deutsche bank. who would've thought? >> a big bloomberg's scoop, boeing is said to be negotiating one of the largest ever orders for planes with china. the deal could include about 187 dreamliner's the triple seven that, the newest and most expensive long-range jets i

frequencies is over the corporation's deutsche telecom telefonica vodafone and net a subsidiary of once united internet have paid a total of 6600000000 euros for a museum the city feel very pleased that the 4 companies that have acquired the frequencies are now able to quickly drive the 5 g.

problem, keeping good people has been a problem for deutsche bank for a while.s position. they have been in a restructuring mode for a long time. people are faced with a loss of uncertainty. the bank has cut one trading unit after another. if you are working in one, you may think you have a job for another year, and then they unveil something else. so the uncertainty has undermined morale and become a problem. but it has been a problem for a long time so i'm not sure it will accelerate even more now. anna: thanks very much for that. bloomberg's german bank reporter from frankfurt. up next, max confidence. iag agrees to buy 200 boeing jets, the ceo saying he would get on board one tomorrow. this is bloomberg. ♪ matt: welcome back to "bloomberg markets." right now, we are about 55 minutes, almost a full hour into the trading day. ec red arrows across european equity indexes. not huge drops, but about .2% of , bounce down, if you will because of the big gains we had a yesterday. 2% gains yesterday across europe. maybe because traders sit on their hands a little bit

deutsche bank is one of the names that is out performing today at the top of the stoxx 600. breakdown of the european indexes it is a big week for macro data. watch out for comments coming out of the central forum the next couple days the president, mario draghi, will be giving a speech tonight. watch for headlines from that. >>> let's take a look at currency today euro is trading a little firmer to the tune of almost 1/10th percentage point pretty much flat 1.1213 is where we're at the yen is coming off just a fraction versus the usd. in line with the better sentiment in asian equities overnight. we have cable down at 1.2680 end of the week, we should know who the final two candidates will be in the run-off to be the next leader. u.s. futures, as well, how things are shaping up there. s&p, nasdaq, all the majors opening up in the green. later, you want to watch out for the treasury flows that will be an interesting one because the last time they came out, there was a lot of scrutiny on what china had done with their foreign holdings of u.s. treasuries we'll get a little mor

deutsch."hy they say they'd be better candidates than senator joe biden to take down trump. let's go to john dean's testimony today before the house judiciary committee, whose testimony a lot of people didn't get to see because of the tragic helicopter crash here in new york. dean, of course, is the former white house counsel to president nixon who famously blew the whistle on the watergate cover-up almost 50 years ago. he made two main points today in his testimony. he called the mueller report a road map for investigating trump and he said that don mcgahn, trump's former white house counsel, should follow he, john dean's example, and testify before congress. here he goes. >> mr. mcgahn represents not donald trump but the office of the president. his client is the office of the president. and i think he owes that office his testimony before this committee. >> do you agree with the white house or does mr. mcgahn still have a legal obligation to appear before the committee? if so, why? >> i have

bank is facing its future head on what's left of the mighty deutsche bank that's the front page of the financial times on monday and it was that announcing what we suspected would happen 10 years ago when we 1st started for all those happy days ago you know they got the lehman brothers collapse happen you know and that was the result of insolvency but we were told that it was a problem of illiquidity and we were told that lehman brother.

bank is facing its future head on what's left of the mighty deutsche bank that's the.