deutsche bank should have known better. but trump, prior to deutsche bank making hundreds of millions of dollars of loans to trump in starting around 2011, 2012, trump had repeatedly defaulted on previous loans to deutsche bank. so, the notion that deutsche bank was going into this blind and was not skeptical of all about trump's finances is just not true. >> i think, that frankly, is one of the witnesses, frankly, in the attorney general suit against trump. deutsche bank, the executives i have spoken, who said that they recognize that trump was inflating the value of his assets and they voted down deliberately and try to be more conservative. but one of the fascinating things to me -- and i have spent years studying deutsche bank -- and one of the fascinating things to uncover, details, that are in these 200 plus-page lawsuits that was filed yesterday, is that there is a whole lot of granular detail that shows exactly what trump was doing in trump and trump's family members were doing -- on deutsche bank against another tr

coming up, do not miss our exclusive interview with the deutsche bank ceo.e will give his outlook on the global economy and the banking sector. this is bloomberg. ♪ >> if you have a chance to refinance your debt for next year, do it now because the volatility with stay with us. if you look at the inflation numbers in europe and the interest rates going up, i can't see that the volatility goes away over the next 12 months. i'm confident that the u.k. will come through this. i cannot tell you actually what today's rate moves are and volatility as a set space. i can also see that over time the pound is coming back. dani: deutsche bank ceo christian sewing speaking about continued market volatility and the pound bouncing back. joining us is stephen dalio. you talk about this idea that we might have had a cathartic moment for repricing of u.k. risk. are you more convinced of that looking at the price action. is the worst over for sterling? >> our position on that is sort of moderate. the extent of the move in the dollar, it had all the signs of a classic blow off

and then you've got deutsche bank, a wrap up on deutsche bank. a whole load of other banks today.particularly positive for the ceo over at deutsche's. alix: a lot of it is the volatility. bloomberg spoke with them earlier especially on bloomberg. in the face of this market volatility. this is the volatility. a lot of things which happened and also show to us that it will take over. and fortunately for deutsche bank we have transformed this bank quite significantly. we've always said core to our business is the risk management. and that is exactly what we are doing. here in asia but also in europe and convince with the risk management capabilities. because in these days if you don't have the proper risk management. >> how much exposure to you have in european assets. at a 37 year low at 5%, 40 and 50 year bonds, how is that impacting you. >> we have a very diversified book and this is the advantage of being the global bank, the advantage with four proper business lines and we entered this kind of period with the clear that volatility takes over that these kind of moves are not unre

and i'm an golf from deutsch front door to want brandy's of it's on your knees pushed him to mos numb egleston heter tourism. type paul don via does i'm for far less ish give isn't. oh, the magnet folks gave me. well, i guess he, wagner and england stayed on the arkansas amino 5th is what? well known american author, dean henderson thinks of past events. poland and hungary invaded czechoslovakia before hitler invaded poland because poland and hungary work and already with the nazis and france in england, basically through czechoslovakia, under the bus. and they don't really want us to remember that part you see, but they just abandon them and. and again, if hadn't been for stolen coming on the eastern front, they would abandon a lot more people in eastern europe as well. mm hm. however, on september the 19th 2019, the european parliament adopted a resolution stating that it was germany in the u. s. i saw that paved the way for world war 2. a one just mocked. think it doesn't die. intestinal open can auto us in biological mando, house, poor in the guns stock, thought lobbyist most the

this is dusty deutsch. none the vest front in the bed threatened to minnesota. think creek in england or in america that certainly i'm banded, shook life, threatening to dodge now with a creaking. rutland, dave forbidden and grandson, daughter. vita our phone politician. disease is a ferrari m. morales. inquisition is from the gun. nissan freshman. and in march 1945 britain under us enter into secret negotiations with germany to negotiate the surrender of german forces in northern italy. dissolve it on the smithy, common natalie. i'm darkish that day to name and it's with al bob kelly the vest. mr. for less dammit, now for ended as creek is europe prestone kicking me with as of italian. i'll either, if in middle of it or not long, i lee it over 100 ice. i didn't find in his letter to president roosevelt, it openly accuses the allies of negotiating a separate piece with jelly. already on his deathbed, roosevelt writes back saying you have been misinformed, externally, responds with laura foreman, so humble and honest people are judging position is more aggressive

you won't be be she. ag deutsche refreshes most villains i know. inch to you. the ash dark. awful, distressed warden. austin, was our finance yet. yeah. father hut. hitler. although the heater from not shown i went into nicer and uncovered in his books bent on let. so a history professor gives a thorough analysis of the reasons that brought germany to war. need di, changes state plan. did i cherish to san jose? 3 border o fca bow it me paid for that. i'm a karnicia one, a puerto lot of elements in britain and france and the united states were pro fascist sympathetic. that hitler and mussolini american business was in bed with the nazis throughout most to the thirties and into the early forty's. mm. the standard oil company, cent crude oil to the germans on a monthly basis. and collaborated with. i g far been the conglomerate that produced as i can be gas used against people sent into the gas chambers with about half of their market vehicles. what produced by opal, which was owned by the american company, general motors before 940 ford supplied the german army w

she vio deutsche of russia's most villains. on our end, t u z. our stock awful districts warden oust in was our financial product. it dra or the load the heater from not shown. i went into nostrand, uncomfy thought in his books, bent on let. so a history professor gives a thorough analysis of the reasons that brought germany to war with the dye chain or stay planted. archer has to send us the border of fca bow it mit paid for that i'm a con issue on a puerto lot of elements in britain and france. i'm united states were pro fascist sympathetic to hitler and mussolini american business was in bed with the nazis throughout most of the thirty's and into the early forty's. mm. the standard oil company, cent crude oil to the germans on a monthly basis and collaborated with. i g far been the conglomerate that produced as i can be gas used against people sent in to the gas chambers about half of their market vehicles, but produced by football, which was owned by the american company, general motors before 944 supplied the german army with motor cars and

tom: the ceo of deutsche bank speaking exclusively.e bringing back davide sera , ceo and founder at algebris. thank you for coming back on set. i want to draw on your experience on the banking sector, how resilient is it in the face of all these challenges? davide: the banks have to think the regulators. the last 10 years they were told not to take risks, do not lend about three times leverage, do not enter exotic trading. basically, the banking system is as resilient as it has ever been. this time, the next credit cycle losses are going to be in the shadow banking. buy now, pay never, credit funds with younger investors running them, the pension system, and insurance books but there won't be banking losses. the last 10 years it was lower for longer, now it is going to be higher for longer. whoever paid the price last crisis won't pay this time. the banking crisis is as good as it has ever been. francine: at some point to they have to merge? are we going to see some cross-border mergers that make sense? davide: in europe, i don't belie

this is dusty deutsch. none the vest front in the bed threatened in minnesota then creek in england or america. that certainly i am bandon shook life, threatened to dodge, now with and creaking. rutland, dave forbidden, and grandson, daughter, vida. how often politician disease is. i'm for art. for more i listen to this is from the gone nice expression. and in march 1945 britain and the u. s. enter into secret negotiations with germany to negotiate the surrender of german forces in northern italy. dissolve, i don't that doesn't meet the common natalie. i'm darker state, die to name and it's with al bob kelly, the vest master for less dumb it. now for ended as cuz you're a priest one can it was as of italian. i'll either, if in meters of it or not along i li it or for 100 guys, i didn't find in his letter to president roosevelt style, in openly accuses the allies of negotiating a separate piece with jelly. already on his deathbed, roosevelt writes back saying you have been misinformed, starting responds with

to pull up over to us the you won't be the she figure will deutsch officious most in balance. i know entity u z. our start off. understood st. warden. austin was our financial the father hut, hitler, although the heater for not young i went into a nicer and uncovered in his books, bent on let. so a history professor gives a thorough analysis of the reasons that brought germany to walk them. di chain, those 3 plant did i cherish troops, industry border? oh fca about me paid for that. i'm a karnicia one upon a lot of elements in britain and france and the united states were pro fascist sympathetic. that hitler and mussolini american business was in bed with the nazis throughout most of the thirty's and into the early forty's. mm. the standard oil company, cent crude oil to the germans on a monthly basis. and collaborated with. i g far been the conglomerate the producer . does like lon beach, gas used against people sent in to the gas chambers? me about half of their market vehicles? what produced by opal, which was owned by the american company, general motors before 1944 suppli

it sounds like deutsche bank has been extensively cooperate be with her office for years, and we nowunting of not only what the bank was thinking but the information that trump and his lieutenants were providing. >> have you thought about asking your editors for subpoena power? >> i ask all the time. they look at me funny. i don't understand why. >> so, this goes to the point that she got new stuff. when you say some of it's surprising, again, i mentioned, we hear from many people in the nation who say, well, they're on to trump. there's a lot of cons, and none of it's surprising. do you mean specifically not that he might break a rule, but it's surprising that she actually seems to have caught him being sneaky and getting busted with his fingerprints in ways that he's often evaded before today? >> it's the fingerprints, i think, that are surprising to me. trump has been just masterful over the years at kind of maintaining at least some plausible deniability, and if what she lays out in this complaint today is true, his fingerprints are all over this in a way that he seems to have vi

an intraday meeting like the likes of deutsche bank has recommended?> if they were to come together today they would -- their job. dani: we have ecb speakers on deck this week. wednesday we are going to have other speakers as well. how will this change the tone of what we hear from the likes again of kate hill on the team? andrew bailey ensco in the coming week? -- andrew bailey and co in the coming week? >> they will try to strike a town where they give confidence to the market. investors have a confidence crisis in the u.k., in the currency, in the economy. i think they will try to say ok, we are able to ensure stability and so on. this is what i expect. dani: do you expect this to have any spillover effects outside the u.k. into global markets? >> it is going to contribute to the overall situation of high volatility, of uncertainty of investors. there are issues all over the place. i do not think it will have a particular impact. it is clearly going to contribute uncertainty. i think this will be an interesting week. we have economic data coming in

francine: we have this scathing note from deutsche bank. about some of these payments. 18 months, could we see an imf bailout for the g7 country that is the u.k.? philip: we are a long way away from that intervention, but again, i do not think it is helpful that people who are active players in the markets are sending these warning shots. we will avoid that kind of extreme outcome, but the u.k. economy is perhaps more fragile than many u.k. citizens understand. it is essential that we have a plan to go forward. there is a sense that we have been drifting a bit over the last couple of years. i am sure that liz truss will work -- i know she is a person who thinks that kind of thing and i am sure she will want to step out -- send out a conference of plan of her vision for the future as we come out of this crisis next year and how we move forward and make britain a success in the future. it is going to have to be midterm. tom: tax cuts are something that liz truss has been vocal on. more broadly when it comes to the banking sector, what are the

well, company deutsche a bon? now she has her eyes set on a career in the fast lane. a commuter rail. debo near stood guard rail car for 3. o 7 o starts rolling out. it's almost 70 meters long with 3200 horsepower in the driver's cab as sonya allegra band who fled to germany from iran, about 6 years ago. supp garnished with us this year. i never imagined that i could do something like this here. never over yet says specic of war, but now things have got better. if finish men, i'm not nervous any more on i'm less stress and i'm excited to be able to drive all my im seeing my the father can this is a pilot project. currently 14 refugees are learning to become trained driver's sama from iran, like sonya, others from syria and afghanistan. and b. wanted to look when you press there and go to info. you see what's missing. i see it isn't even up to a bar yet. to school. the project has also been very new for instructor alex hen doctors office. i was just hoping they be able to speak german and were motivated than when so otherwise i didn't think much about it real back to h

we'll catch up with matt lose eddie of deutsche bank -- matt luzzetti of deutsche bank and richard claridarrency, your problem. when does it become our problem? tom: the scale of that is something richard clarida has worked on at columbia university , always affiliated with columbia university and most importantly out of yale university the minister of finance for columbia joins us now. there is so much to talk about, minister, but i have to go to larger and to reach back to stan fischer in 1998 through the prism of columbia economics and foreign-exchange see anything like an international upset that we missed in 1998 and in 1992? >> thank you. i am delighted to be with you. let me say i do not think the same kind of crisis in 1998, it was very much and emerging-market crisis, a global crisis. the slowdown, particularly the inflation and the increasing interest rates, which is very heavily. tom: very importantly, i look at the limitation of price increase. we see it on india and their challenges for rice. in the united kingdom we see it and columbia and others talk about at. given the spee

. >> the deutsche's ceo saying it's inevitable germany goes into a recession.ellor saying the bank of england -- is sacrosanct. let's talk about the trouble the u.k. is potentially in, whether at the bottom of the barrel. we caught up with global head of fx research at deutsche's later on talking about what's happening in the u.k.. >> i do worry the funding of this. you can see various levels for the pound as you have in the past when the u.k. a struggle to attract foreign financing. guy: is the u.k. going to have a funding problem? megan: i do not think it will. i know deutsche bank put out that report saying there might be an em style covering debt crisis. i think that's overblown. the u.k. is the worst in europe in terms of its growth outlook and in terms of inflation. we see forecast for inflation around 20%, of the euro zone is shocked by inflation so about half of that, i thing the u.k. is in bigger trouble and of course the government, of this new government is set to announce stimulus numbers this can make the job that much harder in terms of having to

this is dusty deutsch. none the vest front in the bed preferences. minnesota think creek thing england or america. that's likely i'm banded, shook life, threatening to dodge now with a creaking. rutland, dave, forbidden, and grandson, daughter vita our phone politician. disease is i'm for art no more. i listen, positioning is from to gone. mr. praken ended march 1945 britain and the u. s. enter into secret negotiations with germany to negotiate the surrender of german forces in northern italy. is of a don't at the smithy, common natalie. i'm darkish that day to name and it's with al bob kelly and the best master. for less dammit, no for ended as cuz you're a priest, owen, kicking me with his of italian, i, leader in me as of it or not, a lead over on because i didn't find in his letter to president roosevelt, it openly accuses the allies of negotiating a separate piece with jelly. already on his deathbed, roosevelt writes back saying you have been misinformed. starting responds with laura foreman, so humble

the new york times business editor and author of dark towers, deutsche bank, donald trump, in an epicw book, and service of the dam, donald trump and the corruption of justice. welcome, david. your first book, dark towers, digs pretty deeply into deutsche bank, which gives loans like these to donald trump. as you've heard earlier in the broadcast, trump is alleging the bank should not have trusted their filing. should they have known better? >> oh, they absolutely should have known better. i think in some cases, in georgia wing's case, they did know better. the question really to me is whether the internet general is going to be able to prove that as a result of trump's exaggerating, hyping, in line, the banks agreed to give him loans on better terms than they otherwise would have. having read in detail the 200 plus -- complaints. there is some evidence that suggests that a lease the interest rates that trump receives on his -- 's embellishments were affected, and i think there's a good chance that that is a strong arguments. it's anyone's guess. >> the trump claims he paid back's loa

it's deutsche bank who he paid back. if you look at this i've been covering this for a while now, if you look at the loan statements okay, let's say donald trump purposely inflated everything on this, alan weisser man, eric trump, let's double the value of all of this stuff. there is a disclaimer on the bottom of some of these documents that say, this is our valuation. you have to do your own due diligence. which presumably deutsche bank did which is why the loans have been repaid in full. and i think that is a huge problem for her proving a victim. the -- neil: three of these loans were not through deutsche bank. >> some of them with were though. neil: get your take where it goes. legal eagles can look at this, this can only go so far. valuations to your point are in the eye of the beholder. i do remember you covered him for many, many years, donald trump was not like forbes richest people and often times said they got it too low i'm actually far richer than that. that has been out there. not necessarily a crime to you

with respect to deutsche bank, we are in conversations with deutsche bank. they have been cooperating with our office. >> [indiscernible] do you feel this will be resolved quickly or be a drawn out process? >> that is entirely up to the judge. ok. i think you all for coming, and if there are any specific questions, members of the team will answer your questions. thank you.

katie used that soundbite on the deutsche bank view. bank of america making an argument that selling might be a bearish signal. there are a lot of people already in cash, as you spoke about between is there a need for others, institutional investors, to maybe save face and follow suit? steve: you have some options. which i thought would have been more of an impact today. you're going to have some tension rebalancing at the end of the quarter. the area where i see most potential for selling is actually in housing and real estate. you have had somewhere between 30% and 40% of the buyers have been institutional investors in the real estate market. at a 7% mortgage rate, all of a sudden the cap rates don't look as good as they did. you could see a pullback of buyers there. also the attention the market moves have gotten in the last week have made this a mainstream news story. you are seeing retail not by the debt this time. that gives way that could be another source of demand for the market that dries up. jon: before we let you go, you men

with respect to deutsche bank, we are in conversations with deutsche bank.hey have been cooperating with our office. >> [indiscernible] do you feel this will be resolved quickly or be a drawn out process? >> that is entirely up to the judge. ok. i think you all for coming, and if there are any specific questions, members of the team will answer your questions. thank you. announcer: c-span is your unfiltered view of government. we are funded by these television companies and more, including charter communications. >> broadbent is a foursquare empowerment. that is why charter as it invested billions building infrastructure, upgrading technology, empowering opportunity in communities big and small. charter is connecting us. announcer: charter communications support c-span as a public service along with these other television providers , giving you a front row seat democracy. announcer: thursday on c-span thou suspect that :00 a.m. eastern to consider legislation that creates new grant programs were public safety, training and public health -- mental health serv

that will be the sheet figure will deutsche of russia's most in valence. i know entity u z. our stark, awful districts warden. austin was our finance yet father hut, hitler, although the heater from natur now went into unanswered, uncovered in his books, bent on let. so a history professor gives a thorough analysis of the reasons that brought germany to war a die chain. those 3 planted archer has to send us 3 border o fca about mid period for the army. miss one afford a lot of elements in britain and france and the united states were pro fascist sympathetic to hitler. and from the saline american business was in bed with the nazis throughout most of the thirty's and into the early forty's. mm. was standard oil company cent crude oil to the germans on a monthly basis and collaborated with. i g far been the conglomerate that produced as i clone. b gas used against people sent in to the gas chambers about half of their market vehicles. what produced by football, which was owned by the american company, general motors before 1944 and supplied the german army with motor cars and

. ♪ haidi: deutsche bank says it's drawing up plans to deal with risks.ments are a rare public acknowledgment of the situation. he spoke exclusively to bloomberg. >> i always said in my view for the bank, diversification is key. china will always be a key. we are happy to be there. there are markets. we all need to make sure we broaden markets. that's our goal. that goes beyond asia. if you look at german corporate's, reorganizing and looking into supply chains, they are targeting other markets. that is our advantage. for me, it's all about diversity , it's not about exiting a market, china will always be an important market. >> u.s. and china tensions. how worried are you? what kind of contingency plans you have? >> everyone needs scenario planning. we have planning. there is no increasing conflict on taiwan. in particular, obviously with the u.s. is a strong ally for years and decades, you see our business with asia and china. it's important for your to find its own balance and germany. i think the german government is working on that. we're doing scena

every one here had another profession in 2016 when many refugees arrived in germany deutsche. a bon created more than $700.00 apprenticeships for them both either. um and this has also benefited the company which is facing a serious shortage of skilled workers. the h r director is thrilled that most of the refugees have been so successful. as nicely filler. there are only a few cases of people not making it to the exam who received as a whole. they're highly motivated earlier and it makes you proud when new employees pass the test by them and then also to brutal shopping. but for people like sonya, that's not enough. she already has bigger plans in sight. vinnish, if i can drive a local train spots, i'm sure i can drive an into city express train parish. have her new dream driving 300 kilometers an hour on the inter city express. sonya a leg bond is planning to go the distance. this is hussein's smile, an entrepreneur from bosnia and herzegovina. he was renovating his property when he came across the ruins of an old christian church, whose same decided to rebuild the place of

meet there, we can watch the video by the way, we will watch it now and then we will talk with a deutschewelle analyst who will tell us in more detail about the prime minister, and this prime minister is only called the chancellor, and it is very difficult for them to call each other a newly appointed person. it is not very long ago, but he is still confirming his position. no, listen, they still have powers who have powers in them, they are absolutely full-blooded full-fledged prime ministers of their countries and have the right to any decision that they, well , that they consider appropriate, this is called democracy, by the way, but we and i hope i already oleksandr golubov, journalist, analyst, deutsche welle is a german wave, it's a german tv and radio station, let's say it used to be radio , now it's already tv . to give tanks to the ukrainian army, how likely is it at all, because in ukraine, a lot of people suspect the german side of the fact that it is in no hurry, let 's say that you would say, mr. oleksandr, what exactly it is already 100% known that germany will provide 200 m

at deutsche bank, were coming up.s is bloomberg. >> keep you up-to-date around the world with the first word. hurricane en has become a dangerous category for storm as it moves toward southwestern florida. it has maximum winds of 140 miles per hour, and it is expected to bring heavy rains and deadly storm surges when it comes to shore late today. more than 2 million people have been urged to evacuate. according to one estimate, it could cause $45 billion is -- in damages. it will be one of the costly storms ever in the night states. in the u.k., inflation sets a record this month. the british retail consortium said shock price inflation accelerated to 5.7% in september. that group says retailers are battling the weak pound, rising energy bills, and commodity prices. also, tight labor market. wall street has been hit with $2 billion of fines, and it is called the whatsapp investigation. regulators reached settlements with a dozen banks for failing to monitor employees and their communications on unauthorized messaging

jon: deutsche bank ceo. deutsche bank ceo saying how deep it will be.ecretary of treasuries says also during recession, it is a likely recession -- it is a likely scenario. it is plausible. it just speaks and very difficult picture across the atlantic right now. jon: 11423 -- 1.1423. the nasdaq 100 down point -- down .1%. not final regulation, not crypto, on the economy later. 333 on the 10 year. lisa, when is that address? lisa: 3:33 p.m.. jon: a combination of a huge deficit and some rate hikes could be a positive sterling backdrop. i expect sterling to hit 110 this year. lee sterling joins us right now. what is going on? lee: everything you have been talking about, you can argue it is undervalued gas, you can argue a credit position, yes, that has been true for months. still, we are down to 114 now. my first argument was 115, we hit that. no reason to change the view the trade is downward. with the energy prices, the economy is going into recession. the bank of england told us that a few weeks ago. we have yet to see the package tomorrow. it is going

will lead to constant disruptions in mobile communications deutsche telecom admitted that of its 33,000 only a few can be supported by emergency power systems in france, the situation is aggravated by the shutdown of several nuclear power plants for maintenance in europe, about half a million telecommunications towers. but in most of them, backup batteries last about 30 minutes. belarusian economic courts recovered almost 18 million rubles. damage caused to the environment over 2 years, most of the amount is about 13 million rubles. in the course of action proceedings against the captives of the supreme court in minsk, the practice of applying the law was discussed today. in the field of nature protection. in particular. affected by the considered cases for 2019-21, and they are almost 250 focus on the controversial issues that arose during the proceedings, but as a rule, they dispute the degree of guilt and the amount of harm caused to the environment by the legislation. it is very extensive. e, therefore, the courts in practice are faced with a large amount of e legislation that must

expectations mount for assertive action from the doe, with deutsche bank calling for an emergency jumbo height. the end of the draghi era, giorgia meloni wins the italian election ushering in the most right-wing government since world war ii. the pound has taken another leg lower in the session today, on the risks building up in this u.k. economy with the chancellor doubling down on tax cuts. you saw a 3.6% drop for the pound in the friday session, levels around 1.06. futures have been pointing lower. the spanish ibex down .8%, and the ftse 100 is currently range bound. you will get divergence between the ftse 100 and domestic stocks on the ftse 250 in terms of the vulnerability to the pound. futures stateside losses of .8%, rapid selloff in bonds across the spectrum. the two year currently at 4.33, a move higher of almost 13 basis points. we will hear from many fed speakers later this week, so we expect for the volatility. bank of america now saying global bond markets are at their most bearish since the late 1940's. euro-dollar under pressure, italian politics will be part of the mix

and the question i think, is really whether there's going to be evidence that deutsche bank, which wasich is the biggest lender, was really, you know, obviously, they were getting information that was very rosy, and did that actually affect their decision to lend him money at the rates that they did or not? and i think there's a lot of evidence which maybe what is not going to make viewers happy, but the reality is, knowing full well trump's replication for exaggeration, and it was industry standard, and it is also trump standard. and so i know, internally at the bank, there are a lot of people who have taken his numbers with a grain of salt, and who, going through the ag's complaint, in detail today, there's, you know, it is evidence actually that supports that, it becomes quite clear, that this is, the financials that trump was presenting, were, you know, people had to recognize that he was hyping it. >> rebecca, what do you make of this idea that we just talked about that trump actually knew he was misleading them and he was lying about the valuation of his assets and seeking out mi

you see the read across in the likes of deutsche post.per is a separate story, but deutsche post and royal mail are down 6% and 9% following the fedex forward guidance on concerns about recession in terms of demand for delivering. uniper is down almost 10% as the german government works out land to potentially take a majority stake in its biggest gas provider. francine: germany is taking control of rosneft's german unit. this is trying to avoid an energy crisis after the invasion of ukraine. for more on all of this, let's bring in bloomberg's western europe editor, chad time. when you look at the move, how is this going down with the german public? >> i think the german public realizes how serious it is and it is impressive to see the government stepping in and sees the rosneft assets. they also took control some months ago of the gazprom asset in germany and as we have been reporting, they are looking at doing a lot more. what we are watching here is a future of the energy assets in germany by the government. tom: and the nationalization

we are also getting breaking news out of deutsche bank. the chief executive saying germany will not a part recession. many economists already knew this but we had that quirky german july industrial production, down 0.3% instead of 0.6%, so maybe there is belief in corners of the markets that we effort an ugly recession. coming up, the yen set for the worst year ever. we will have plenty more on the currency next. ♪ francine: welcome back to the open. we are 14 minutes into the european trading session. the dax and cac 40 and european stocks down .9%. a lot of it has to do with what we're seeing in dollar. over the last 24 hours we had a lot of focus on dollar strength, and policymakers are pulling together proposals for an energy bidding in brussels to save consumers from the higher energy costs. the yen has slumped to a level that leaves it on track for its worst year on record, prompting warnings from senior japanese officials. the currency on a third day of declines as a fresh wave of dollar strength rips through asia and beyond. we are

$1800000000.00 in fines over failures to keep electronic records of important communications. bank of america deutsche bank movement, socks and others use personal phones, text messages and other means to discuss financial information without and hearing to record keeping regulations. children the head of the world trade organization, w t. o. no, as the condo, if we all out warns that the world is heading towards a global recession, she expects that global trade forecasts will be revised a lower from the current 3 percent for 2022. the reasons for that are the ongoing russia, ukraine war and a related food and energy crisis. good. she, sandy louis, ve, tall luxury is a world of its own. and that is usually crisis proof. after all the richest of the wretched spending, even when times are tougher, every one else, but not any more. the economic crisis and try in china is changing shopping behavior, even among the most hybrid of clientele. sheet metal shelving products scattered across a simple table. this is a 2nd hand store, but not like the one in your neighborhood where you can buy worn out suits from

the game played at the deutsche bank park got offered to acquired start, but picked up some pace on the 2nd half. frankly, to buy and traded jobs with both goalkeeper staying busy in an intense closing face . yet no one could find a winner, and it was the crowd that took the headlines. and with a woman's urban, as they got under way raining champs of all spoke, i ng what would be their record eight's title. they're also a force in the international game and have signed on additional talent. my colleagues from d. w. sports went to a whilst book training session to see for themselves. most books, women have high ambitions, the season. adam for volkswagen, hungry for success, recent years of shine that nothing will change that in the future. we always want to be challenging for titles being strengthened the squat with 5 new signings, including 19 year old eula, plant from hoffman, home, and veteran defendant molina hearing from biome rows were crucial and taking germany to the final of european championships. now they're focused on improving and already taught class. most books side make t

which is when we as deutsche a bon also want to be completely climate neutral monitor whether hydrogen trains will replace diesel locomotives depends on if there's enough inexpensive, green hydrogen available plus hydrogen trains will have to continue proving themselves out on the tracks. and here's a reminder of the top business style we're following for you this hour in august, us inflation clocked in at 8.3 percent year on year down from 8.5 percent. the month before our gas prices decline, the cost of rent and food rows increasing the monthly consumer price index by 0 point one percent. the u. s. federal reserve is likely to announce another aggressive interest rate hike in response. well, that was our show for more. you can check us out at d, w dot com backslash business, and the d. w. news, youtube channel ross on facebook for me in the whole team here in berlin. thanks for watching. ah, and in good shape. we're being constantly exposed to substances that are toxic to our bodies. how do we protect ourselves and our bodies from toxins? the one found in nature and created in manufa

deutsche bank questioned his net worth.ive or take. $700 million, and they are doing their own analysis. masers said you must do your own analysis. everybody presents rosie scenarios. neil: if you look at the trump illustration it is leica trust. rules are different. charles: i asked why she didn't bring a similar case. here is what john coffee, one of the smartest guys in the world, said. she has authority to bring criminal cases. the of already the open cover bank fraud is limited. the superintendent of banks to essentially say do that or she would need to go to them. she did not go to them, because there is no criminal case because there is no victim here. most of the due diligence was up to the banks to do anyway. what did i learn from this? donald trump likes to blow smoke. it is just what he does. neil: nothing here could go to make a settlement without -- charles: the us attorney, us attorney looked at this and you can see why. there is no, i don't know, victim, like if it is a retail investor, or if this was an ipo,