n now, we spoke with the deutsche bank ceo and asked him to comment on reports of a merger with deutsche bank >> we won't comment on mergers we're executing on the plan that we've defined, and as christian said i think a number of times, we are wholly focused on our own business and executing on the plans that we define >> but how confident are you that you have your faith in your own hands? >> we control our own fate as we demonstrated in 2018 when we face aid number of challenges both in the markets that were idiosyncratic to us. >> one more question, what's the massive potential shareholders why should someone put -- yeah -- its money in your shares >> we are seeing the benefit of the work we've done, frankly, over several years in particular, in terms of shaping the business in 2018, which we think gives us a foundation for growth. those growth expectations are not reflected in our stock, to my own judgment. we have a lot of things, as i say, in our hands to execute on to improve if you like self-help in our story, and i think that's something that investors should look at and we'll

deutsche bank down nearly 2%.he eighth consecutive order, they have revenue contracting. we spoke to the ceo of deutsche bank, who was basically pointing to endorsing a european banking consolidation, which i found interesting. matt, and. -- anna, matt: thank you very much, and i have tweeted you back with a link to that full interview. now let's talk about that, show you some of that ceo and his outlook for the bank. >> we don't see signs of a recession, we see signs of bottlenecks in certain interest. we don't see a drop in the order books, so yes. the external stats in terms of business confidence has slowed in the second part of the year. we still see fundamental strength in the economy and a lower-level and we had 2018. matt: how much pressure to you feel from the german government to shut them targets or go to merger talks? of oureel in control destiny. we are proud of having achieved the milestones we did. the actions we and around the businesses promised the market. we intend to the same in 2019, leverage

matt: deutsche bank had specific drop was theuch industry, and how much was deutsche bank specific? >> in terms of business, we are a leading rates and credit house. those areas were among the most affected in the market in the fourth quarter. the rate did impact our business in december. it is hard to measure how much, but clearly being in the headlines that way is unhelpful to client confidence. we have gone some ways to restore that and stabilizing as reflected in cds spreads and credit spreads, that is encouraging. there is more work to do to communicate the nature of these issues, and how we want to resolve them. matt: how much of the danske bank affects you, and how much will it cost this year? >> it is in the papers a lot so it affects employee and client confidence around the name. we are seeking to put it behind us and by explaining our perspective of the facts, cooperating with all inquiries. as we have said in the public, as we look at the fact pattern and research, our engagement with the don's got estonia branch, we see deutsche bank acting responsibly, and we hope as t

what's the link between deutsche bank and the russia investigation?it really comes down to, wolf, that deutsche bank was one of the biggest if not the biggest lender for donald trump for many, many years despite his bankruptcies, despite financial issues he had with everything he's ever owned. deutsche bank, for some reason, had continued to lend him the money, so the other connection is the russians. they've certainly been scrutinized if for their dealings with the rushsians. obviously you take the two, a lot of concern and schiff and other members of congress want to take a look at, make sure that somehow their decisions were not swayed, meaning deutsche bank, was not swayed by the russians in their lending of trump. the other thing when you think about what schiff says he's going to be looking at, they want to make sure the policy decisions, foreign policy decisions, are not being swayed in any way because someone is doing something favorable for the president or people in his administration. so we'll see. all of this, lots more to come i guess. >>

deutsche bank share price fell by more than fifty six percent in twenty eighteen. in the global ranking it's far behind american and chinese banks in eighty ninth place. christiane's even has been the new chief executive officers in april twenty eighth seen he wants to turn the tide and make the bank fit for the future again the political pressure is increasing for the c.e.o. to get his house in order. and i'm joined now in studio by sasha stephan professor for finance at the frankfurt school and by our frankfurt correspondent paul christiane brit's paul i'm going to start with you how are investors supposed to anticipate these numbers that are coming out the stock exchange course isn't open yet but what it was expected to happen there. yeah steve traders are just getting their day started but we got a preview yesterday of what we can expect when bloomberg reported that merger talks may start as early as this summer because while we're seeing a profit here at the bank in twenty eighteen the numbers are still a little disappointing they're below analyst expectations

it's the first results for deutsche is a new c.e.o. christiane's a ving and unfortunately for saving the troubled lender isn't out of the woods yet the fourth quarter was a rocky one but despite the turbulence dosha ended the year with a tidy profit of three hundred forty one million euros a solid step forward after its seven hundred thirty million euro loss in twenty seventeen do you look at it convince on its merits and profit demonstrates that deutsche bank is on the right path now we need to take the next step will continue to cut costs in twenty nineteen and invest in growth would like to see it invokes to invest here. but it's hard to see where that growth will come from deutsche is facing weakness in its traditional bull walks of investment banking and wealth and bond management. germany's biggest lender still seems to dancing from one scandal to the next last autumn voyages offices were raided as part of a money laundering investigation and is facing renewed scrutiny in the u.s. over its business dealings with president donald

the deutsche bank has received a subpoena from the u.s.pecial counsel investigating possible collusion between president donald trump and campaign and russia on dealings linked to the trumps say sources familiar with the matter. the subpoena is part of a probe by robert mueller and his team to determine whether the president's campaign was involved in russian efforts to influence the u.s. election. quote, it remains unclear whether mueller requested information on president trump's own business dealings with deutsche bank or those with people close to him. that news broke in the predawn hours on tuesday, december 5th, 2017. german publication breaking that news. in bob woodward's book "fear" he says the day that story ran in the german publication, the president called the top russia lawyer at 7:00 a.m. eastern time. quote, he was furious. the story then spread and picked up by bloomberg and by reuters and by "the guardian" and by the "wall street journal." and the details were a little different in each of the outlets and stories but the

not yet. >> i want to talk about commerce bank and deutsche. very low base. this is a bank that is clearly struggling with -- >> 3% return don't forget on. >> % return on equity. struggling with profitability. lots of talk about potential merger speculation out there between deutsche bank and commerce bank. is there any rationale in your view of putting two banks that are both struggling, both trading at extreme discounts versus book, is there any rationale to put the two of them together does it make sense >> it might make sense, but the only source of synergy is the huge cut in the labor force. >> in terms of the says cost-cutting that would be associated >> yeah. the only big source for those two banks is there they have a larger footprint in germany, and they can cut it obviously, it would come at a cost, and political cost that might be very high you are wondering why politicians are pushing for that that's the reason why share prices for those companies, as you mentioned before, are trading such a huge discount you can see such a huge discount on the it

quote, deutsche bank has been served. u.s.ors are demanding it provide information on dealings linked to the trumps, say sources familiar with the matter. the subpoena is part of the probe of robert mueller and his team to determine whether the president and his campaign were involved in russian efforts to influence the election. it remains unclear whether mueller requested information on trump or those close to him. again, that news broke in the predawn hours here in the u.s. on tuesday, december 5, 2017. german publication breaking that news. in bob woodward's book "fear," he says the day that story ran in that german publication the president called his top russia lawyer at 7:00 a.m. eastern time. quote, he was furious. the story then spread. it was picked up by bloomberg and reuters and the guardian and the "wall street journal". all did their own reporting to follow up that scoop. the details were all a little different in each of the outlets, in each of the stories, but the basic idea was simple. federal prosecutors had

deutsche bank said no.ump's 2016 run deutsche bank was his lender of last resort, lending trump and his companies more than $2.5 billion. this time things were different. according to three people formula with the request, the times writes, senior officials at the bank, including its future chief executive, believed that mr. trump's divisive candidacy made such a loan too risky. among their concerns was if mr. trump won the election and then defaulted deutsche bank would have to choose between not collecting on the debt or seizing the assets of the president of the united states. a trump organization spokeswoman denied the company needed outside funding for turnberry calling the times story absolutely false. she didn't specifically address whether trump organization had asked deutsche bank for a loan. joining me now jill winebanks, former watergate special prosecutor and cynthia oxley. let me read more of the "new york times" story. it says around the time mr. trump was winning new hampshire, south carolina

deutsche bank has reported results today.many's largest lender shrinking for an eighth straight quarter. itsbank was able to report first profit on cost-cutting. cfo miller spoke to the earlier on. >> we don't see signs of a recession. we see signs of bottlenecks in certain instances in the ability to hire staff. we don't see a drop in the order books. the external stats in terms of business confidence and economic growth has slowed in the second half of the year. fundamental strength in the economy, admittedly at a lower level. matt: how much pressure do you feel from the german government to show them targets or go into merger talks? >> we feel we are in control of our destiny. we are executing our plans. we feel strong with the milestone we set in 2018. frankly achieving financial milestones we promised the market. we intend to do the same in 2019, leverage all the work we have done with the businesses, stability in the platform, serving clients come executing on our strategy. i think all of our stakeholders around us shou

and deutsche bank horse -- post a profit for the first time in years, but is it enough to stave off a merger with a viable lender? plus, a lebanese movie about a boy who rebels against the life he has been forced too lead,d, d it's a favorite to win the foreign-language oscar. and as bauhaus designs turns 100 years old, we look at how the style is inspiring a new generation of architects in nigeria. i'm crawl messman. thanks for joining us. the u.s. is withdrawing from a key arms treaty. mike pompeo announced the u.s. will suspend compliance with the intermediate range nuclear forces treaty with russia tomorrow on saturday and then withdraw completely from the accord in six months if moscow does not in the alleged violations of the pact. president trump says he wants to begin talks to agree on a n n arms treaty. >> it is the end of months of speculation and tension. secretary y of state on papale s signaled thatt the arms-control treaty was has helped keep european's safe, could soon end. >> if russia does not return to full and v verifiable compliance within the treaty within this si

and he works for deutsche bank. so there's an excellent chance that the people at sdny have the institutional knowledge to really drill down on this deutsche bank fire issue, that cohen not only produced documents for yesterday, but testified to the fact that trump and his financial disclosures to the bank have been all lies. >> right. and i think someone on twitter said that, you know, cohen came with receipts longer than cvs. i think what's really important is that different ags from across the country actually now have a vested interest in looking at -- going back to nick's point, looking at all of trump's various properties. because what was so clearly obvious yesterday is that he devalues himself when it's advantageous and he can have the taxpayers pay for this, and he overvalues himself based on his name and what his branding is and what he thinks of himself. so this has been a decades-long process with trump. and he's clearly surrounded himself with what some people may argue is a says poole of degenerates. a

-- meant for deutsche bank.hip. it shows how much at surprise people at the bank and they were struggling to come to terms with it. it was obvious to them that donald trump or his organization would default on loans coming due in 2023 and 2024. it is still an issue. makes very clear these are vanilla loans, my language. we know the character of these loans, recourse or non-court -- nonrecourse? vanilla or esoteric? sure they havet looked at public records about the loans. some of those were floating and some are fixed interest rate loans. it seems like at least, to my knowledge, there would have been recourse but i'm not entirely sure. tom: thank you so much, this story out on bloomberg. very informative and moving forward on the trump administration. the trump administration through trump making- eric it clear it is "complete nonsense." group, branson of virgin maybe we will talk of l.a. chartered to jfk or virgin collected -- virgin galactic. along with the ceo of virgin galactic. prime minister may has left 1

it's the first results for deutsche is a new c.e.o. christiane's a ving and unfortunately for saving the troubled lender isn't out of the woods yet the fourth quarter was a rocky one but despite the turbulence. ended the year with a tidy profit of three hundred forty one million euros a solid step forward after its seven hundred thirty million euro loss in twenty seventeen. do you look at it convince all its merits and profit demonstrates that deutsche bank is on the right path now we need to take the next step will continue to cut costs in twenty nineteen and invest in growth like it invokes to invest here . but it's hard to see where that growth will come from deutsche is facing weakness in its traditional bull walks of investment banking and wealth and bond management . and germany's biggest lender still seems to dancing from one scandal to the next last autumn deutsche is offices were raided as part of a money laundering investigation and is facing renewed scrutiny in the u.s. over its business dealings with president donald trump.

the slump is getting worse at deutsche bank.rted revenues shrank for the eighth quarter. that will complicate christian sewing's plan to turn the bank around through cost-cutting. bloomberg has learned executives have -- believe a government brokered merger is possible. bloomberg speaking with the cfo. >> we have talked and there is talk in the sector overall that over time, mergers, consolidation in the european banking sector would be sensible. we have tended to agree with that. what form it takes, how long it takes is anybody's guess. viviana: all of that interview with the cfo in a few minutes. the u.k. is beginning to lay the groundwork for a delay in brexit. the government canceling a recess so lawmakers can make progress on key business. theresa may does not want a delayed exit from the union but she is trying to come up with proposals after parliament voted to scrap a part of her proposal. global news 24 hours a day and at tic toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries.

and deutsche bank, it doesn't look great for them?t. one can discern it is the global climate coming home to roost. a lot of people said it is perfectly 0k, central banks will put up perfectly 0k, central banks will put up interest rates, the global economy will heal, capitalisation will be ok, we will be off to the races. in practice, this is going to bea races. in practice, this is going to be a really difficult year for the global economy, the german economy is spluttering and that is one of theissues is spluttering and that is one of the issues for deutsche bank. the other issue is within the european central bank, the germany central bank, it is putting 1 trillion euros into the system, borrowed from a combination of italy, spain and france. there are negative interest rates. deutsche bank needs to lend the money to the bundesbank and is then fined for negative interest rates. so deutsche bank doesn't only face a really difficult domestic economy, but an intractable challenge from the european central bank. you deliver such bad n

deutsche bank said no.it was early 2016 and trump was lending tens of millions of dollars to his campaign and had been spending large sums to expand the trump organization's roster of high-end properties. to finance his businesses growth, mr. trump turned a longtime alley deutsche bank, one of the few who was willing to lend money to the king of debt. trump's request set off a fight that reached the top of the german bank. according with three people familiar with the request. in the end deutsche bank did something unexpected, it said no. >> two things here, one, trump's red line has always been his personal finances. we always knew there was never going to be a big, distinct line between the personal finances and his political dealings. that's what mueller's very concerned about because this could be a motive. the question would be, this guy is a billionaire. what could the russians do for him that he couldn't do for himself? if he's not getting a loan, he's got to get favors from other people at the same

there's also the -- it's not just deutsche bank.esident's son's statement when he said, gosh, the russians are giving us all kinds of money. i can't remember the exact words but he implied they were getting plenty of money from the russians. so the second part, in particular, look it may turn out that the deutsche bank thing once we get into the information there's nothing there, that's the reason for an investigation, but that statement that the russians are providing liquidity, providing capital, that bears some investigation as we have watched over the years, everybody associated with the trump campaign or trump administration lie about their contacts with russia. >> do you worry you're crossing the president's imposed red line about looking into his family's finances? >> well, not really, right? if there is evidence of wrongdoing, no american citizen, you know, from the lowliest to the president of the united states gets to tell the government what is subject to investigation. it is fair for the president and anybody else to exp

he turned to deutsche bank for those loans.out the connection, if any, between deutsche bank and the russians? that's clearly at the heart of the mueller investigation. >> well, this is raising concern from democratic lawmaker who want no know more about the trump organization's interactions with deutsche bank and saw some of them out there saying deutsche bank has this history that we don't necessarily trust with the russians and that's because deutsche bank was fined hundreds of millions of dollars essentially because regulators said you had your russian clients running a money laundering scheme right underneath your nose and didn't take the regulatory, the compliant steps to detect it, it take care of it. that's part of the reason democratic lawmakers have said we want to take a deeper dive into this. >> i'm sure they are especially now in the house, they're the majority in the house of representatives. s sara, good reporting. thank you very much. >>> there's more breaking news we're following. virginia's embattled governor

what happens with deutsche bank?he catalyst have to be something internal? alison: for deutsche bank, with each quarter they cannot post revenue growth, the pressure does intensify. the environment has not been helpful. the fourth quarter was challenging, december was difficult. have had ae, we healthy market but not the gang buster -- in january, we have had a healthy market but not the gang buster you need. to the extent you cannot get confidence renew, it does increase pressure. a couple of options out there. there have been stories talking about what the regulators are doing to increase the ease of doing a deal with commerzbank. you have social issues that will mitigate the outlook. tom: next week on the new american banking as well. alison williams, thank you. much more to drive forward a newsday. we will have good coverage of that. we will do that next. this is "bloomberg." ♪ comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when an

deutsche bank is set to extend trump loans because of risk of default.re looking at the minutes from the fomc january meeting. they shed some light on the dovish tone. runoffvored ending the of their balance sheet, but expressed uncertainty on whether they would raise rates again. let's bring in the head of u.s. strategy at bank of america merrill lynch. what was the number one takeaway for you from these meeting minutes? mark: i think the most important take away was the signaling they had about the balance sheet. most think it's appropriate to end the balance sheet this year. he don't know when that will be. there was a presentation that suggested the latter half of this year, which raises risks they might announce something in june and implement it in july. or, they could way deeper in this year. outlook for the path of policy and interest rates, the committee seemed divided. they indicated they were happy to be patient right now and wait for further incoming information. it seems they need more time to assess the economy and figure out how some of th

violating it we'll have reaction from washington and moscow also coming up germany's biggest lender deutsche bank posts an annual profit for the first time in years but is it enough to stave off a merger with a rival lender and. israel gears up to host this year's euro vision song contest but the event is already mired in controversy. i'm carl massa thanks for joining us the u.s. is withdrawing from a key arms control treaty it will first suspend its compliance with the intermediate range nuclear forces treaty the i n f with russia tomorrow that would be saturday secretary of state on a zero said the u.s. would then withdraw from the accord in six months if moscow does not end alleged violations of the pact president donald trump says he wants to begin talks on a new arms control treaty. moscow has responded by saying that it never in. tended to violate the treaty a russian foreign ministry spokesman said the u.s. move was part of a strategy to daunt its international legal obligations earlier g.w.s. moscow correspondent emily sure when told us more about the kremlin's reaction the foreign m

this thing is banging along the lows it's not just deutsche bank that european investors are worriedbout there. and i also want to say there was a really interesting deal this week now we have the two regional banks, bb&t and suntrust merging in a $66 billion deal. they're the sixth largest bank kind of weird, the biggest deal in ten years i just want to make a point. when you're talking about forced mergers or a merger done out of strength, let's go back and look a decade ago, 2008, when jpmorgan was forced to buy bear stearns for two bucks on its way to ten it's really interesting. the s&p was in a correction at that point it rallied 15% after that. people thought it was swept under the rug subsequently from may in 2008 to the lows of '09 it dropped 15% now, the u.s. treasury yield on the 10-year is 2.63% people were talking about 2016, that was a generational low. we might have just made a generational double top breaking that uptrend here's the long-term chart of the 10-year treasury yield maybe we have been in a decades process where yields are never going up i don't think that'

rumors deutsch bank is going to be in a forced merger with commerce bang.e have a 20-year chart of the euro stocks banking index. this thing is banging along the lows it's not just deutsche bank that european investors are worried about. interesting deal this week, the two regional banks, bbnt, sun trust merging in a $66 billion deal, it would be the sixth largest bank the biggest deal in ten years are i want to make a point when you're talking about forced merger or a merger that's supposedly done out of strength, a decade ago, 2008, jpmorgan was forced to buy bear stearns in march 2008 for $2 on its way to $10. the s&p was in a bit of a correction at that point it rallied 15% after that. people thought it was swept under the rug. subsequently, from may 2008 to the lows in '09, it dropped 50%. move forward to yields the u.s. treasury yield on the 10-year is at 2.63%. people were talking about 2016 that was a generation aloe we-just made a generational double top, breaking that uptrend. here's the long-term chart of the 10-year treasury yield maybe we have

and germany's biggest lender still seems to dancing from one scandal to the next last autumn deutsche is offices were raided as part of a money laundering investigation and is facing renewed scrutiny in the u.s. over its business dealings with president donald trump. maybe that's why dosha boss saving didn't comment on profit projections for this year or on a possible merger with germany's second largest bank comet's bank. residents of a russian city south of moscow are facing harassment and even prison sentences this is the punishment for their efforts to raise awareness of a local garbage dump that they say is making many residents sec the waste is trucked in from the russian capital and the authorities seem to want people to keep quiet about it. in the early hours secret service agents stormed. his apartment they rifled through the belongings of the thirty two year old office worker and her six year old daughter so they came at six o'clock in the morning six men. they went through all my personal possessions they were looking for anything illegal it was horrible very discomforting

not stop violating it will have an update from washington also coming up germany's biggest lender deutsche bank posts an annual profit for the first time in years but is it enough to stave off a merger with his rival lender and the big rush is on as millions of chinese have trained to celebrate the do their new year with their families our reporter joint humanity to get back to you well my british. i'm sorry kelly welcome the u.s. says that it will withdraw from a key arms control treaty secretary of state mike pompei o announced the u.s. will suspend its compliance with the intermediate range nuclear forces treaty with russia tomorrow saturday and withdraw from the accord in six months of moscow does not and alleged violations of the pact now the u.s. and the soviet union signed the i.n.f. treaty back in one thousand nine hundred seven now the u.s. says that a new generation of russian cruise missiles breaches the terms of that pact. here's what the u.s. secretary of state had to say a short while ago. russia's violation puts millions of europeans and americans a greater risk it aims to p

tom: we have got to turn to deutsche bank. the bloomberg article, and then the wall street journal turned out with a bombshell on the many bonds trade. i read every word of both articles. what a lousy day for deutsche bank. how do you respond to two grim articles? if they: it is not as are making a lot of mistakes losing money and trading as a surprise. there is a reason it is trading where it is, and it has had numerous capital increases. nothing really changes. at least they are pulling out of the u.s. francine: how should i read the nowst news on danske, under sec investigation? sec, i don't know if it is systemic, but how they could it be? jonathan: look at the share price, nobody can put a number on it. this analysts called. they can't give any help either. clearly, we're going to end up with big fines. it is difficult to believe that went to be has against the amount of market cap that has been lost. tom: richard with us from blackrock. david haro was on yesterday, the great bank investor. he is loading the vote on value

but it's hard to see where that growth will come from deutsche is facing weakness in its traditional bull walks of investment banking and wealth and bond management. and germany's biggest lender still seems to dancing from one scandal to the next last autumn deutsche is offices were raided as part of a money laundering investigation and is facing renewed scrutiny in the u.s. over its business dealings with president donald trump. maybe that's why dogshit boss saving didn't comment on profit projections for this year or on a possible merger with germany's second largest bank comet's bank. of football's agent cup has come to a close with could target being crowned the new continental champions after they beat japan in the final and only one talking from to the u.s. force is here to fill us in on all the action in the league i mean they were never in the final before qatar how did they take the title so the qatar was a no one's radar pretty turn i meant and. you never expected them to be in the final yet alone the need one of the tournaments favorites japan by a score line off three to

liz: we need to look at deutsche bank.of deutsche bank seeing red intraday after the "new york times" reported over the weekend the german bank turned down the trump organization's request for a business loan. they had given the trump organization a lot of business loans, but this particular request came right during the 2016 campaign season, and the "times" reported that deutsche's top brass thought the loan was too risky given what they perceived to be divisive positions that he was taking. wait. during his candidacy. you always stop me. i'm stopping you. deutsche also reportedly felt that the bank did not want to be in the position of either letting donald trump default on the debt or having to seize assets of a sitting president. so here are the shares right now, down two-thirds of a percent. >> can i make a point here? liz: yes. >> the stock should not go down on this story. it was a huge story. liz: i know. it should go up. >> but here's why it went down. i think this is if you are a deutsche bank shareholder, you sh

deutsche telecom shares sink after the company forecasts lower than expected 2019 adjusted earnings, but the firm beats fourth quarter revenue estimates as it eyes a big 5g roll-out we'll speak to the ceo at 11:45 cet. >> this was a costly year for the industry as a whole. >> in a year where we had 80 billion industry losses in net cap and a fourth quarter with very volatile financial markets trying to guess where we would end up for the year was not an easy task for anybody. >> we've had germany and france numbers out, and the euro zone composite pmi has come in at 51.4 that is ahead of expectations. reuters polls suggest we were looking for 51.1 that also marks an acceleration from january that is a three-month high for the composite. the manufacturing side, however, was less encouraging the manufacturing pmi for the euro zone come in at 49.2. that is slipping into contraction territory. in january that number was 50.5, and expectation was for 50.3 a negative number on the manufacturing front. a more positive number on the services front, and all together, that means the composite

erstwhile premium lender was in the black since twenty fourteen according to the bank's numbers deutsche bank made around three hundred fifty million in profit slightly lower than analyst expectations they again re speculation about a merger with germany's smaller rival comments by a solution favored by the german government but skeptics say the resulting bank would still be too small to be competitive to bank has been under intense scrutiny amid ongoing legal troubles or recently it's all raves in connection to a money laundering investigation. ugandan officials seized the largest contraband shipment of ivory and pangle in scales they've ever taken in a single operation all told the hall is estimated to have a market value of around eight million dollars ugandan authorities have been stepping up efforts to crack down on illegal trading and elephant tusks rhino horns and pangolin scales especially to asia there they sell for thousands of dollars a kilo for use in ornaments and medicines. the ugandan customs checked every container but they were suspicious about this one because it came i

bankean banks -- deutsche fixed revenues did not hold up.a coming in euro-dollar up .2%. core inflation picking up, but pmi's disastrous anywhere you look. a lot of selling in the bond market in italy. yields up 18 basis points. will happen when the jobs number comes out? .45%.down payroll is expected to come in at 165,000 jobs with the rate holding steady at 3.9%. we turn to bloombergs michael mckee who is live at the labor department. michael: the labor department still showing little impact from the government shutdown. unemployment does pick up to 4%. in january. created december's job numbers were substantially revised lower, to 222,000 from the initially reported 312,000. still good, but that is the biggest monthly revision since 2014. revisions or up a 10th on the month. no contribution from minimum wage increases. they are up 3.2%, a healthy number. hours worked unchanged. 170 5000employment, federal workers reported being on temporary layoff, enough to push the federal worker unemployment rate to 2.6% from 2.2%. discouraged worker's

didn't want to pay deutsche bank back. suddenly, he left the commercial real estate division of deutsche bank and went to the private wealth fund. vtb bank, a bank that certainly had many russian oligarchs who invested in that. suddenly, his debt was paid off and they offered him an additional $25 million. vtb bank also is associated with this spy that was just -- the sanctions removed and so on and so forth. so other banks couldn't believe it. they said, are you fing kidding when donald trump was giving this loan by deutsche bank. so we have a letter here from our distinguished ranking member saying if there are valid concerns with financial disclosures, then let's come together to legislate a thoughtful solution to require additional disclosures. and this has been quoted a lot by members here. and so i'm wondering, will -- he goes on to say that we ought to improve our ethics laws. are there any ethics laws or any audits that will help us get to this unusual lending activity under deutsche bank that any of you on the pan

bank,zbank and deutsche both at the bottom of that's created.as been talking about for his long as i have been talking about financial markets is this the year it happens? >> i think it is probably getting close. anna: and can you invest without that happening? >> i think you probably needed. -- need it. is it the sector to invest in before you get that absolute not -- before you get that? absolutely not. you get these big structural problems like interest rates. but looking at deutsche, metro bank, there's also a lot of idiosyncratic risks within the companies, which makes those types much more difficult. then jones, a state street senior multi-asset strategist. thank for joining us, up next, goldman. their responsibility for the 1mdb scandal. we talk about that next, this is bloomberg. ♪ this isn't just any moving day. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no tim

down below, the challenges of deutsche bank.e to me is they actually were all -2012.d together in 2011 that is really where they broke apart into the ability to do banking. this ability to make revenue. what did you learn about revenue today? francine: the important point is that is that if you put it next it is probably also the moment u.s. banks are picking up. that you seeis european banks under a huge pressure. that he hased is had a lot of his targets.it is difficult in these environments to have a business model that makes money. that is very true in his trading units because he actually disappointed in not. overall, looking at a couple of analyst notes. they are saying that what he showed today competition. francine only is walking on the streets and the fancy stores and all of that, but it is tangible in zurich between ubs and credit suisse. how does ubs compared to credit suisse in zurich? francine: we actually spoke to the head of equities from legal and general. the concern is that they are going after the same market

. >> what about deutsche bank?f questions have been raised about whether or not the president was going to deutsche bank, "the new york times" had a story last weekend, he was going to deutsche bank for more loans during 2016 and eventually the top officials in the bank decided it was too risky, in case he was elected, how do they recover their funds. there have been all sorts of questions about whether deutsche bank in the past was responsible for alleged russian money laundering. >> well, listen, you know, deutsche bank, an international bank based in germany, who knows what investigators may be looking at, at any bank, at any given time, given the world banking system. i think it's more important to focus on, yesterday there were some very specific things in that subpoena. they laid out the specific potential criminal statutes that are implicated very specifically. you list them, foreign money, money laundering. they listed conspiracy, they listed false statements. they went through a whole menu of potential sta

please welcome back to the show, donny deutsche, everyone!> seth: thanks for being here! >> thanks for having me back. >> seth: it's exciting to have you back. you were friends with donald trump before he ran for president. and then you were one of the people who predicted, based on knowing him and based on knowing how he operated that he was going to win the primary. >> key word is "was" friends. >> seth: right, you were friends. right, yes, i should past tense that. yes. >> very, very past tense. >> seth: but when you were predicting that he was going to do better than many were, was that something -- did he reach out? was he happy to hear that on tv? >> yeah, right after he had won, i think, one of the first primaries, i had been saying i thought he was going to win and he calls me up. "hey, donny, how are you doing? thanks for saying i was going to win. this is amazing. can you believe how incredible it is?" he goes, "it's incredible." i go, "yeah, they can't find a replacement on 'the celebrity apprentice' for me. that's what he was focu

a point in time when american banks basically would not touch the president and he had to go to deutscheank in order to receive financing. we also know that deutsche banc has been under some withering criticism, an allegation that they laundered money for the russians. among a lot of things we would like to know is who's guaranteed all the loan hess s he supposed from deutsche banc. and potential conflict of interest. >> coach that hearing with whitaker, saying the president blasted this hearing, you know, tweeting this, saying the democrats in congress yesterday were vicious and totally showed their cards for everyone to see. when the republicans had the majority, they never acted with such hatred and scorn. the democrats are trying to win an election they know they cannot legitimately win. i guess he's not thinking about all the investigations, you know, probing that did take place when president obama was in office from affordable care act to benghazi, et cetera. what is your response? >> the president has neither grasp of recent history, nor grasp of the constitution. he obviously is

talk about another aspect of the credit market, deutsche bank.utscheake -- bank has been caught in a spiral. comingre factors together in one of those is it as high cost for capital. last week, we saw it pay more. and if you take a look the bloomberg, you can see their credit, some of the cocoa can put charles are yielding huge amounts. how big of a problem is this? >> deutsche bank has had to come and pay more money certainly than it would otherwise have done. people are worried about it. these bonds are nonpreferred senior, they can be bailed in. they are not the old hunsicker bonds that operate as the same level as derivative spirit in the ability -- as derivatives. in the event that deutsche bank failing, that these could be billed in and -- bailed in and go to zero. it is interesting deutsche bank has had to pay up or offer a bigger spread then you would normally expect because of this. guy: thank you very much indeed. euro area finance ministers have given support the candidacy of philip lane the became the new member of the executive board

what does this say about deutsche bank, any material repercussions for deutsche bank or the managementrter: this is the kind of story that certainly no bank wants to be a part of, to have your internal deliberations about a client, a famous client, aired like this. it tells you, it is a canary in the coal mine, that deutsche bank is investigated by a few congressional committees. there is no tell what kind of headlines will be coming out about their relationship to donald trump, which is obviously of key interest to u.s. investigators. guy: let's quickly wrap up. we are kind of switchin stretchg around europe. swedbank is reportedly implicated in the danske bank scandal. is the market shooting first and asking questions later on this one?one -- later on this reporter: there is a swiss media report. that is where this came from. they are on record saying they have nothing to do with don and now with danske, there's this report of these suspicious accounts. guy: thank you very much indeed. rtlingerg's jim he covering the wide range of financial news today. vonnie: with the first word new

and we already have a heads up from deutsche bank, the numbers quite poor.re the european banks not having a good quarter when the u.s. ones did? and where the trading desks not doing well compared with u.s. peers? elisa: think what you are saying eing isuse of the -- se because the economic engines are not as strong as in the u.s., they are more exposed to volatility than u.s. peers. vonnie: should we look for a resolution for commerzbank, deutsche bank, in the next quarter or two, or can they stumble on for a few years? elisa: i think that is -- the talk has been another could be acceleration of potential discussions. the management at deutsche bank has said that they want to proceed with their plan, although they have not ruled out conversations at some point with commerzbank. obviously, the first quarter will be very important. it is early days in terms of how the business is holding up. the pressure will be relentless. guy: thank you very much indeed. elisa, thank you. vonnie: now first word news. courtney: the u.s. trade deficit tol more than expected

we reported earlier that deutsche bank is reducing its stake. barclays. >> pressure across the board for some major european banks. hna, once the biggest investor in deutsche bank, now completely exiting their stake. this has been a long-running process. then we have tyler global also pulling out of barclays. 2.5% of shares outstanding. the fact that they are pulling back really is a blow to the ceo and his plans. anna: thank you very much. you can get more details on any of the stocks we are following here. 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 your questions answered by awesome experts store. it's a now there's one store that connects your life like never before store. the xfinity store is here. and it's simple, easy, awesome. anna: we are a minute from the open of the cash equities market this monday. let's see what we have in store. let's see where the markets are positioned as we head toward th

we have a scoop between president trump and deutsche bank.earned the german lender was so concerned president trump might default on loans while in office it considered restructuring them. deutsche bank realized it would be a pr disaster to go after the assets of a sitting president. the bank decided not to do any new business with him. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm viviana hurtado. this is bloomberg. alix: thank you so much. back to breaking news. ubs ordered to pay $5.1 billion fine. stock getting hit. taylor riggs has been digging through with more. taylor: we knew it would be a record as long as the fine was more than $2.6 billion. ubs found guilty of money laundering and a french tax trial. helped judge ubs has clients conceal undeclared assets. we are getting statements from ubs in response. they are going to appeal the french court's judgment. they say they "strongly disagree with the verdict." the bank has contested any crim

deutsche bank was one of the biggest lenders -- was the biggest lender to the president when everyone wouldn't loan him money because obviously he had financial issues. this bank continually lent him money. so he's giving the committeethies financial statements where he asked -- trump sent financial statements to deutsche bank. it said mr. trump is a cheat, and then he says as previously stated i'm giving you these financial statements which he gave to deutsche bank to inquire about a loan to buy the buffalo bills and to forbes. and these are exhibits in my testimony. and then the other thing he talks about is how -- >> wait, wait, can i read this? it is my experience that mr. trump inflated his total assets when it served his purposes, such as trying to be listed among the wealthiest people in forbes and deflated his assets to reduce his real estate taxes. and he is producing exhibits for testimony of him deflating and inflating his financial interests. >> the use of exhibits in this document is masterful, and it clearly was put together by someone i think has experience in court. wh