alix: if take the deutsche bank model, has deutsche bank helped by macro factors in addition to the internal turnaround or we have to wait? >> deutsche bank was extremely lucky because it ran into a trading boom after it unveiled its plan in 2019. it has lasted until now by many factors. fixed income trading unit that deutsche bank has hugely benefited from that that is now being boosted by the rise in interest rates that is boosting lending income and deutsche bank. the question is what credit suisse is facing is quite negative. guy: other european banks are doing relatively well. they look more stable. it is an idiosyncratic story around credit suisse. that comes to the issue of talent. not only have to commence the market, they have to commence those key people that they need to make this work to stay. >> cost is a huge thing. but also keep top talent in a sinking ship and they have to pay up for that. they're also trying to cut the cost basis so the hardest thing for them is to trying keep morale up and stop the drain of talent. >> it is tough to cut. we are going to talk about other eur

and deutsche bank was looking at what options might be available.y were interested in management assets. credit suisse has a very big wealth management unit, and i'm sure budget bank would've been willing to pay a substantial price. tom: what we know about the likelihood of deutsche bank re-looking at some of these assets, and what timeframe might we be considering? >> it depends a bit on credit suisse. the restructuring that was only announced in october is struggling to gain traction. outflows have been worse than expected. if they have to revisit their plan, decide they need to start selling assets again, i'm pretty sure deutsche bank would be ready and run the numbers again and then probably make a bid at some point. francine: the hardest question i will have to answer today, what exactly is of value right now in credit suisse? is it the brand name? we had speculation, it is still a strong name in asia that maybe there were potential buyers for, or is it the actual operations? >> it is a mix of both to be honest. the wealth management unit is on

deutsche bank, ing, julius baer, and santander. bloomberg's finance reporter tom metcalf is here. tands out for you at this point across this lori of bank earnings? tom: a lot of news out today and it's a mixed bag. fascinating news from st. andrew. the market responded positively. the benefit from higher interest rates. other side of the coin, deutsche bank trade is missed. a more volatile business in the markets punishing them for mrs. on cost basically. that seems to be the focus. everyone is looking ahead and can you keep a lid on costs as we move into a harder economic environment. francine: is that why shareholders are disappointed? tom: i think so. deutsche bank was still up 20%. it was kind of justified committee -- to me. they are looking at the bottom line and there have been a few instances across the board had higher costs. tom: presumably addressing cost will be a continued theme for lenders. what else to get in terms of the outlook executives of these banks further into 2023? tom: they are all their provisions across the board. some people are unwinding their provisio

tom: bloomberg's manus cranny speaking to deutsche bank's cfo. of course it is a huge day for central banks. valerie ty tell is on hand to discuss the fed slowdown. we have the ecb decision from frankfurt. and dani burger is taking a brief break, a sojourn from the show to cover the boe rate decision. the fed slowing the pace of tightening, raising u.s. rates as expected, the central bank acknowledged process on inflation -- progress on inflation but warned of a couple more hikes. jay powell's pushback was notably absent. >> our focus is not on short-term moves but sustained changes to broader financial conditions. it is our judgment we are not yet sufficiently restrictive policy stance. tom: was that key for these markets? the lack of aggressive pushback in terms of financial conditions loosening from jay powell and the absorption of that view that disinflation is starting to embed itself? >> it was the first question asked to him and he did not seem bothered by the loosening of financial conditions. instead he took a long-term view that financia

they say these are to areas within deutsche bank that deutsche bank is planning on growing. plan also we are told inside deutsche bank was to move quickly if attractive parts of the bank credit suisse were to come on the market last year. if you will recall the revamp, credit suisse initially improved its business but it did stop short of further significant sales. >> what is the latest when it comes to the revamp of credit suisse? >> there is a view that it has done little to stave off the crisis of confidence that has hung over the bank for a few years now. analysts are concerned about several things including the dramatic drop -- the dramatic deposit outflows. the departure of key staff. the swiss bank shares are down about 75% over the past two years and in contrast, deutsche bank recently reported the highest profit in over a decade. haidi: you can get around up of the stories of the day. terminal subscribers can go to dayb . this is bloomberg. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed

deutsche bank reported a 65% increase in full-year tax profit the highest in 15 years. net revenue rising by 7%. the german lender cost ratio declined and setting aside a provision of credit lost of 1.2 billion euro revenue at 27.2 billion euro that is 1 billion below what analysts expected. annette asked the cfo whether the top line miss is part of the underlining trend. >> for the year and quarter, revenues were up 7%. the business performance under that was quite strong. corporate bank was up 30% in the quarter. 23% in the year. our private bank up 11% in the year even the innvestment bank was up 4% in the year the fourth quarter tailed off in november and december, but still a record quarter in the business for fourth quarter 8.9 billion for the full year. as you say, it came short of the expectation and guidance late in the year >> let us look at the different divisions. the investment bank is important to you how did it start in the new year >> strongly. we had a good january. you know, volatility has continued into 2023. in a sense, perhaps, a surprise that the m

guy: the deutsche bank cfo earlier on today in frankfurt. they had a fantastic run on fic. he best numbers they posted since 2007. turning to this bank around is getting a big take. alix: how big was the stock up in the numbers? then the stock is higher, you have a buyback and the stock is pulled down. guy: i wonder if there is the potential for some of those announcements to come through later this year. alix: very possibly. i feel we have been waiting for the european bank buyback story for years. guy: we have had tough times. alix: that has been the thesis have been hearing for years. guy: it is a thesis to start to think about. they have been de-risking it. european markets, 17 to 20 is where the ftse is finishing. -- 7820 is when it was is finishing. what a day we have had an the foreign exchange market, you could go on and on. alix and i will continue this story. alix: an insider's view on the ftx explosion. a conversation with the brett harrison, next. this is bloomberg. ♪ >> this is "bloomberg markets." you are live at the visible run. cathie wood joins bloomberg rad

deutsche bank was the problem child. europe has a $23 billion market cap.e takeover take a story history or is there still an open risk that they are a takeover target? >> right now, they are introducing new strategy of how they can improve the profitability. we are waiting to see how that is being executed before we can have a plan b. it is about seeing how that works out. if it does not work, we have to look at our options. it is all about executing that strategy. crexendo this is a question asked of many executives but when we look at outflows from credit suisse, who is on the others? who stands to benefit from dragon those? we saw that they had significant increases. they are definitely stepping into that. growth is more than just grabbing shares from credit suisse. the loss of market share has been a negative for them. >> it is hard to decide in terms of exiting credit suisse. that was difficult to work out. the other dynamic is how does ubs -- this is such a huge cost income ratio in the united states. >> they are using technology. it is the highest c

. >>> lastly, deutsche bank. e bank smashing profits for the fourth quarter nearly doubled expectations. mostly, though, due to a boost in revenue ceo contributing that to higher rates and saying the bank has been successfully transformed over the last three years. that stock not responding. deutsche bank down 2%. >>> now to the big story that is rocking india and the global financial markets. shares of adani group. down again conglomerate of a bunch of stocks the total losses topped $100 billion in the past week it comes after short seller hindenberg research of stock manipulation it raised concerns ofthe adani seven listed companies it went so far as to call it the largest con in corporate history. obviously adani group has come out and said that is nonsense. they disagree. adani enterprises is plunging 20% 20%. we will have a share sale, but it was shelved it was a setback for the founder. a college dropout turned billionaire. until last week, he was asia's richest person not anymore. slid in the ranking of the

tom: a great joys of bank -- a great deutsche bank call. i have trouble with a recession call when i see corporations adapting. frito-lay company is adapting. the joke is pepsi, they are in the bags of potato chips. what was the first lays potato chip? was that in america? jon: i don't eat potato chips. in the u.k. we call them crisps. tom: can somebody get me a bag of crisps from upstairs? jon: chips are what you guys might call french fries. we call french fries as a skinnier chip. chip is like a fat potato. tom: i am skinny because i had too many chips. jon: you are skinny? ok. i am not going there. tom: pepsi kills it. jon: we have got to do disney in a moment. futures up .9%. this is bloomberg. ♪ lisa: keep you up-to-date from news from around the world with the first word i am lisa mateo. ukrainian president is in brussels today after stops in london and paris. he has been thanking allies for their support and urging them to provide more weapons for the fight against russia. the death toll has gone over 16,000 from the earthquakes tha

this comes from deutsche bank.e is not necessarily that these are not good companies but just that what analysts there saw as overvalued is no longer there, saying, if you have time to entry well, congrats. -- if you have timed your entry well, congrats. you can take a profit. persimmon is down 3.6%. taylor wimpey down at 2.9%. just a few moments to go until the close of the european session. those home builders weighing down on the overall market and european stocks probably higher. this is bloomberg. ♪ 92% still active? seems high. seriously? it's just a bike. wait. they make a treadmill with an intuitive speed knob? yeah. want to try? 92% stick with it, so can you. rent a peloton bike or bike+. terms apply. as a business owner, rent your bottom line iske+. always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fee

deutsche bank is among several banks find over $2 billion by u.s.ators over the use of unauthorized communication channels. and that your bloomberg business flash. manus: simone, thank you very much. the results are in for nestle, forecasting probability will probably improve in 2023. higher material cost and shipping costs eroded the margins last year. duncan joins me, good to see you. over the surprises, read headline was the guidance for this year. take me through your first surprise. morning. duncan: it looked like the numbers were good on growth but margins were -- gross margins probably 200 and 300 basis points. so they've had to push prices up in the second half of the year. the question for 23 is going to become the reverse of that, going back up in the second half as those costs start to ebb away. it's going to be a tricky year, 2023, tough for their staff, hopefully the second half when the inflation is a bit more sensible. manus: we've probably gone through a bit of shrink inflation with product size changes, we've had the price increases

tom: from the deutsche bank towers. which i still don't call -- jonathan: deutsche bank center.enter? tom: warner bros. discovery store. jonathan: they didn't even know. lisa: maybe they can do better branding. jonathan: matt? [laughter] this is bloomberg, apparently. [laughter] lisa: yes, it is. keeping you up to date with news from around the world, i'm lisa mateo. core inflation in the euro zone set a record last month, cementing the european central bank plan to raise interest rates by another half percent in march. price gains reaching 5.3% in january with headline and they should including food and power up to 8.6%. the minutes from the latest fed policy maker meeting showing that the fed is inclined towards more interest rate hikes to curb inflation. still almost all officials are back to slowing the pace of increases with 25 basis point hikes likely coming at the march, may, and june meetings. president joe biden says vladimir putin has made the world less safe by suspending participation in the start nuclear treaty and he told abc news that he doesn't think it means the

deutsche bank has paid tens of millions of euros in settlements that tightened internal controls. >>g up in the next hour, we speak to activist investor involved in a bake takeover battle in the cape obscene. aligned partners is supporting hives push and we ask the head of ethics strategy for their -- fx strategy for their yen outlook. this is bloomberg. t(jennifer)omberg. the reason why golo customers have such long term success is because we focus on real foods in the right balance so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real food and lose this much weight. the release supplement makes losing weight easy. release sets you up for successful weight loss because it supports your blood sugar levels between meals so you aren't hungry or fatigued. after i started taking release, the weight just started falling off. since starting golo and taking release, i've gone from a size 12 to a 4. before golo, i was hungry all the time and constantly thinking about food. after taking relea

deutsche bank, bonuses might come down for that too. this keeps evolving, more issues arising. stand right now in the whatsapp scandal? tom: that is an interesting sign. but they did was reduced by 500 million pounds the bonus part. effectively because of whatsapp, and also for barclays in particular, this clerical error they may. now we have steven arons reporting that deutsche bank is doing the same, because it's bankers were also caught up in that scandal. it is not just these two banks. most of wall street. he saw at jp morgan, goldman sachs. our more clawbacks to come? we have seen some top executives at jp morgan lose a bit of a bonus. as more investigations happen could that continue? alix: is there a readthrough we need to get wise to? tom: i think it does feel like sort of the trading boom is going to be difficult to meet any kind of expectations they are, really, for everyone. and of course it sets us up for an intriguing q1. much less volatility for trade environment. what happens then? dani: ok, tom. thank you very much. that is bloomberg's tom metcalf. i want to go

organized only for the sake of this in 1889 by a group of german industrialists and bankers in led by deutsche bank received a concession from the government of the ottoman empire to build a direct railway through anatolia from constantinople the berlin baghdad railway project was to become the core of german economic expansion, a british officer at the headquarters of the serbian army. in world war i, professor lafman, a huge block of territories will be completed, producing all kinds of economic benefits and not criminal for the naval forces to unite under the auspices of the german government. his interest, and from the persian gulf and our indian empire by the way, so deviating from the text of the professor, the persian gulf is the place where the road, berlin-baghdad, was supposed to end up. the port of alexander is and control of the dardanelles soon provides germany with huge naval power, a mediterranean look at the world map shows how the chain of states between berlin and bogdan of the german empire was located. bulgaria turkey only a narrow strip of land blocked the path and prevented th

whether he had engaged in money laundering through deutsche bank, using overseas bank accounts. the accuracy of the materials you put supplied to the gsa about the old post office. and a host of other things, including insurance fraud, the restructuring of his loan on a chicago skyscraper, you go on and on. when you describe that litany of areas of potential criminal inquiry for trump, and when you describe your reasoning, and the debates between you and your team, about the hush money thing. are you giving a potential lifeline to donald trump's defense lawyers, that if they do end up getting charged with anything related to any of those items, including the hush money man, or that your book could be used as evidence, essentially to try to question the charges in court, and say look, prosecutors have been looking at the stop for a long time, responsible prosecutors decided there was nothing there, but in charge of it. this is selective prosecution, this is an overreach, have you given the defense a leg up here? >> i don't think we've given the defense any kind of like up. when y

deutsche bank downgrading, the stock is down more than 7% we're going to trade that and tomorrow in today'sback time for three stock lunch sipping on today's biggest movers ford lower on a downgrade by deutsche bank. starbucks lower after weak international demand hurt its latest earnings and match group is laying off 8% of its workforce. victoria green is cio of g squared private wealth and a cnbc contributor let's start with ford. >> yeah, i'm selling ford. i don't want to touch it right now. i think it's reversing back down to the 11. they're stuck in this operational hell and left $2 billion on the table they'll have more costs with the evs taking price cuts to keep up with tesla i don't think they'll get it done in q1 a sell for me. their chart is ugly. they bounce off a fibonacci level. >> sell on ford. let's move on. what are you seeing in starbucks these days >> starbucks is all about a china story. they had a 29% decline in chinese sales but 30% of their stores in china were closed during that period so i think we'll see china re-opening and see that pick back up. i think the stock

could he have defrauded deutsche bank by getting financing through overstated financial statements, whether he had engaged in money laundering using overseas bank accounts. the accuracy of materials he provided to the gsa about the old post office and a host of other things including insurance fraud, the restructuring of his loan on his chicago skyscraper. you go on and on and on. when you describe that litany of areas of potential criminal inquiry for trump and when you describe your reasoning and the debates between you and your team about the hush money thing, are you giving a potential life line to donald trump's defense lawyers that if they do end up getting charged with anything related to any of those items including the hush money matter, that your book could be used as evidence to question the charges in court to say, look, prosecutors have been looking at this for a long time, responsible prosecutors looked at this, decided nothing is there and decided not to charge in the past.he this is an overreach. have you given the defense a leg up here?iv >> look, i don't think we'

the final 18 of uc minecraft minecraft and napoli are competing in deutsche bank park in frankfurt. slow past europa league vs the powerful and surprising napoli, when last season, in the midst of everyone's surprise, caused barcelona to lose in the final game of the european league champion to a human being higher than a smoothie with sand, and after tottenham was eliminated away from home , they won the sixth place in the table in a consecutive week with an effort. at home, they can surprise us, ready to use, and with the hope of type knock in the return game, unlike other italian football teams, they played the most different boys and were very dangerous and nursed a lot , and the dangerous triangle of the tree in front of them has a difficult task to overcome. we know these on the same side meydan has placed the team that made all the impossible in the series and took it for the impossibility of rising europe. napoleon made the season of all the italian football greats very early and resolutely occupied and tireless and a book of split yossi powerful and above liverpool is the 8

mallika from deutsche bank. plenty more ahead. keep it here with us.. ♪ rishaad: you are back with bloomberg markets as we have a look at the business flash headlines. carlyle group former president schwartz is there next president. they are planning to announce the appointment as soon as this week. they will take the reins of a firm that has grappled with turnovers and struggled to convince investors about its path to growth. elon musk saying twitter is on the right track after a tough three months. in a tweet to the billionaire says the company is trying to break even after he saved from bankruptcy. saying he had to juggle the rescue of the platform as well as handle responsibly set tesla and spacex. hong kong chief executive john lim is said to be pushing sony aramco to list. he will meet top executives at the oil producer as he embarks on his first official visit to the middle east. haslinda: what's do a check on asian defense stocks on the rise of geopolitical tensions between the u.s. and china. u.s. trading down, take a look at where those playe

i believe he took his business at that point to deutsche bank.sted until, essentially, until he was thrown out of deutsche bank right before he was arrested on, you know, significant charges and killed himself in his jail cell. cheryl: yeah. >> we should also point out, i was one of the last people that spoke with jeffrey -- cheryl: i know. >> you can go to foxbusiness.com, pull up the stories. there's a lot of them. he had a lot of sources on wall street. one of his friends was a guy named jess staley at jpmorgan, you know, there's a lot of talk about him. you'll see him -- cheryl: this is the beauty and the beast reference i think we made in the tease about the conversations -- >> we should point out that jess' attorney has no comment. again, i would just say this, okay, and i'm not defending the behavior at all, quite the contrary. jeffrey epstein, when he got out of jail -- i believe that's 2009, 2010, check the date -- when he came out, he was looked upon differently than right before he killed himself, and i believe that was 2018, 2019. the

in 1889, a group of german industrialists and bankers led by deutsche bank received a concession fromld a direct railway across anatolia from constantinople. the berlin baghdad railway project was to be the core of the germans.

deutsche bank agreed. their estimate, 560.oss-the-board the board yesterday with fed funds rate repricing. the tension is, is this time different? can you get a no landing with an inverted yield curve? can you get a soft landing or no landing with the fed that has to do that much more without us understand the consequences? this is the question at a time when people are heralding that economic data like it's a green light to going to risk. jonathan: do you believe in longer variable x? tom: we have got to get the retail clock up. it will be a long and variable lag. that's the data dependency. i believe there is an inflation report before the march 22 fed meeting. it is more key than it was on monday. jonathan: after more than 400 basis points of hikes, all the fed has to show his the s&p 500 15% off its lows. the unappointed rate at 3.4%. underlying inflation still running hot. do you believe in longer variable lags or believe the fed is not done enough? lisa: by many metrics financial conditions have eased going back to early

it's going to -- today, deutsche bank reiterates buy.edbush raises their target on apple today. >> can you believe those lackeys? ill advised. they all -- the number of price target gains was extraordinary, but then, i mean, we can go to amazon, and there were huge amount, and people actually raise -- some people raised the price target of alphabet, which i think is -- maybe they know something the justice department doesn't, i don't know. >> on alphabet, which is worth spending some time, there, i do run into people who really question their ability to, you know, it's just not in their dna to cut costs in a very effective manner we know they recently engaged in some cost-cutting, but this is a company that's always been built for growth, and by the way, it didn't grow, year over year, the advertising side very rare decline. they do wonder, jim, as well about the disruption that will be brought by a.i. on the call, he talked about a.i. we know they have a strong product there. we're going to start to see a lot more of it, but even if the

yvonne: they deutsche bank investigation into alleged selling of derivatives founded staff acted in badth according to the financial times. they found employees exploited flaws in the banks control and broke eu rules, selling to spanish companies. deutsche bank has made tens of millions of euros in settlements and tight internal controls. dps group has reported a surge in fourth-quarter profit, beating expectations. interest rates helped net income increased 69% on year to $1.76 billion. the fed announced a special dividend, setting its a strong capital base. rishaad: we look at how we are seeing markets and investors, dps earnings as well. looking at what we have in terms of that across platforms. this is down, 1.1%. japanese banks, nearly 2% for mitsubishi's. possible governor taking the helm, at least that is the report, helping japanese banks. there is of course the prospect he can be dovish and that could indeed mean yield curve control, which may make more money. overall, markets, i think david has the stat. we are approaching the hang seng. of the highest in january. david: janua

deutsche is among several banks fined over $2 billion by u.s.egulators over the use of unauthorized communication channels. that is your bloomberg business flash. francine? francine: coming up, airbus sores after upping the delivery forecast despite striking cautious amended supply chain issues. it will be reporting from the playmakers hq. that is next. this is bloomberg. ♪ francine: welcome back to the open everyone. at 20 21 -- 21 minutes until the european trading day. we have 20 industry groups making up the stoxx 600 all gaining but also u.s. futures rising. we had benchmarks in asia also rising. investors appear to shrug off the prospect of higher interest rates following strong economic data from the u.s.. airbus shares climbing at the open after playmakers projected higher deliveries for this year and will accelerate output of the largest models as long-haul travel rebounds. for more on all of this let's get to our bloomberg senior editor benedict who is at the airbus headquarters in southern france. thank you for joining us. it's a toug

sector, they are dropping, here is person on this -- persimmon on the screen, down 1.8% after deutsche banks it to sell. they are worried about valuations coming up too much as interest-rate worries these, they say that rally is overdone. staying in the real estate space but going to sweden, one of the biggest real estate companies announcing a $1 billion right's issue. that is hitting that star, it was down 8% earlier. now down 4%, but one of the worst performers on the stoxx 600 given they need extra cash to deal with higher rates hitting the real estate sector. coming back to the u.k. but going into the tech space, an unlisted company called kape technology, the founder will buy that company for 285 pence a share. he also owns camden market. that stock trading above the offer price. the final one i'm looking for, payout, the french -- orpea, the french company involved in a scandal in mismanagement of funds. surging 25% today though, they are reporting a massive jump in earnings. their quarterly revenue was up 6%, and their net sales up 8%, orpea up 25% in paris. francine: our equities r

we had met lizette he from deutsche bank who was brilliant on a delayed call -- matt lisanti from deutschebrilliant on a delayed call. frances: i will agree with matt that it is the end of 2023 that is the problem, especially around june and july. that is when the momentum in disinflation begins to pause out. based on the traditional indicators, by mid to end 2023 is when we will see the consumer and jobs picture. we have to evaluate the leading indicators. tom: i want to go to your knowledge of canadian macro economics. what could jerome powell learn from the bank of canada? i look at select develop nation banks and they are taking a different path than the fed. what is the lesson learned from the bank of canada from washington? frances: there is the challenge. and it canada and the smaller developed countries, you have less ability to control inflation with interest rates. going into next year, if you are australia or canada, impact on your economy from higher interest rates becomes much more severe because of housing reliance and the ability to control inflammation declines. what i see

manus: very comfortable beats, that ficc looks ahead of what we saw last week from deutsche bank. we will catch up with the cfo, lars machenil, he is going live for the first time, no pressure, and a vision fund, it loses ¥730 billion. there is the promo for lars machenil. let's get to softbank, the fourth quarterly loss in a row at vision fund. this is in the third quarter, it lost $17 billion, another loss. some of these highly illiquid holdings are more difficult to value. tech was a wreck in 2022, we know that. approximately $5 billion has been lost by vision fund, net sales 1.6 9 trillion, but the vision fund investment loss of 730 billion, no new buyback. though hope is not all lost according to the tliv, the firm announced buybacks during a presentation, and that was from the earnings release. so we keep and i, hope still lives on that. bi have said very clearly that the defensive strategy of softbank delivers a paucity, one a wonderful word, of profit drivers. dani: and what of the other interesting things, this is the first time ever on the earnings call, masayoshi son wi

our guest is deutsche bank emea cio.fed, we saw a big move yesterday particularly in the front end of the u.s. curve. have we gone too far in this move? >> i think the way the markets are pricing, i don't think it's fair to say it's just a reaction to ecb. it's a combination of various different things. of course the reaction to ecb is there but it's also an and -- outcome of the mixed data we have seen in the u.s. and europe creating this confusion around what is to expect of the future. the reaction of the yield curve is the biggest one. that's what we're experiencing now. it's uncertainty, volatility, and of the concern around not being able to see what is ahead of us is the reaction from the markets. when you look into ecb, the way they communicated about the rate hike was quite firm then they tried to bounce back a little bit to ease because they see the market reacted a bit too much. but we didn't see any column after that. i think the reaction is a combination of various factors, not just the ecb. kailey: that's i

math problems and protein structures -- bank of america, citigroup, or two, and wells fargo -- deutsche bankd wells fargo, have said that chat gpt and open ai tools are prohibited from business uses. this follows the report that jp morgan's could implement equivalent measures this week. i find this so injured in, goes back to a nvidia ceo said this week. it is that chat gpt is great, the momentum around is great. when businesses need a tool they do not need chat gpt. they need something appropriate and custom for them. caroline: they also do not need the risk of people sharing internal information that gets spit out in an inquiry down the line. there is a reporting that amazon took similar view, the general councils were that certain types of conversation looked remarkably like sensitive information of theirs. we have talked about, the cyber risk tilt into this large language models. this -- built into this large language models and generative ai. ed: the content risks as well, we reported about the inaccuracies the ai tools are generating. think about how bart's long -- bard's lunch week. -

we rallied about 25 basis points in total yesterday deutsche bank. jim put out a note yesterday saying this is the biggest rally for the 10-year bund since the day that former ecb president mario draghi has become president. 10-year gilt rallied 30 basis points giving back today. and 10-year btp. yesterday, rallied 44.0 basis points after the ecb meeting we have come off a bit today really significant moves there in european yields that is the picture across the board, arabile, it has been one of stocks higher and that is reversing a bit. >>> j >> joumanna, you had the news from the ecb with the hike moving for march and replaced by the ecb president christine lagarde. we have news from peter kazimir who said the march hike which has been put in place won't bring us to the peak interest rates yet. he believes the march hike will not be the last and the ecb will decide how many more hikes will happen after that. still not at the top of the hiking cycle, joumanna, and they fear core inflation may stay too high. >> he is the hawkish member of the commit

can it do a deutsche bank? can it be saved? in what form can it be saved?ioning what form you want to own the stock. alan custis joining us from the u.k.. this is bloomberg. ♪ guy: switzerland is lower today. a bigger than anticipated rate rise. credit squeeze is the story out of europe today. the countdown to the close starts right now. >> the countdown is on in europe this is bloomberg markets: european close. with guy johnson and alix steel. guy:

dani: it is sort of a similar view then we got from deutsche bank.y would they cut rates, because they need to see what the impact has been. why would they do that? because of that, the call is 4.2% on the 10 year this year. gordon: it is very hard to call the 10 year. there are strong arguments it is fairly priced. i do think a recession is fairly likely. i think the two year house got further to go, we have to get above 5%. manus: adani bonds -- maybe they do fit in somewhere in some sort of my new show portion of capital. we are trying to work out why you would buy adani bonds. i don't think anybody knows, or can remotely safely say they have all the information to make a valid investment in adani. that would be where i would stand. where do you stand? would you even speculate on adani debt? gordon:. i am a super boring scottish guy. i just don't mess about. dani: back i love that answer. fairytales and all. thank you so much for joining us this morning. enjoy the rest of your friday and your weekend. that is gordon shannon manager at twentyfour a

we are seeing, for example, today with deutsche bank down 1.6% they posted results this season and flat with positive results bnp with strong results and looking ahead to next year credit suisse with a comeback up 3 points after negative reaction to the results then standard charter is down five points and there were denied rumors of the takeover for the bank >> standard charter and now uk trade after first abu dhabi bank saying it is not evaluating a possible offer shares spiked on thursday on the london trade after the report that it was going ahead with the $35 billion offer code name silver fox trot. that would have been a more than $10 billion premium on standard charter market value >>> earnings season is in full swing. we have been speaking to banking leaders across europe for the outlook for the year. >> a shallow recession or not or mild we expect in the u.s. to be a mild recession, but the more data points we get, the more clarity investors will have. the more activity there will actually show. >> volatility has continued into 2023 in a sense a surprise that the market conditi

manus: deutsche bank investment manager and ceo there on the inflationary risks to equity markets.'s stay with inflation be a the conversation with jeffrey gundlach. he has suggested that the fed will push back against the justin's and halt -- the rate of increases and halt. james, good morning. are we all deluded? does the fed need to get its hawk on in snarl as john says this morning in an opinion column? are we to far over our skis on rate cuts by the end of the year? does he need to snog or coup this evening? james: would prefer to air on the side of snarling rather than cooing. i would agree that it has slightly evolved the message that we got from the ceo there. the biggest risk to markets is markets themselves are the reason that jay powell may need to push aggressively back is because not just there are cuts priced in the front end of the bond market. i think to some degree that is reasonable. inflation market is telling us that headline inflation will be 2.2% by the middle of this year. there are strong reasons to suspect that we are headed into a recession. ism services f

deutsche bank left all gone. democrats didn't lift a financing tore persuade them to stay.al, democrats will bend over backwards for you. new york city groveling. new york find thousands of cops, firefighters, nurses. new york said you are not welcome. but when buses of unvaxxed illegals showed up, democrats are salivating. hey, how can i make your life more comfortable here? this past year they have spent millions just to let migrants stay in the fanciest of hotels. adams jumped through hoops to get them lavish rooms near times square they trashed the room. got them nice sandwiches delivered right to their door. oh, sorry, they threw them out. and when he tried to get the single male migrants to down size to brooklyn, haven't we all down sized to brooklyn to make room for migrant families they wouldn't go. they set up tents to protest until cops cleared them out. eric adams is so desperate to make the illegals happy, he spent friday night sleeping at the brooklyn cruise terminal just to show them it's not a complete dump. >> i slept like a baby, it was warm. i had my nice

well, a billion dollar expense regarding deutsche bank.here true, it was due to other circumstances, but several billion. uh, several, billions, moreover, the regulator of another country is several billion, uh, dollars, and this goes to the treasury, because the daughter of the bank, relatively speaking, violated some rules at the moment. yes, it is absolutely international practice to limit the fines of banks on problem loans. yesterday. it also sounded. this is hard to turn out, because here it is clear that people are protected first of all, how this mechanism will work, that is, such a predatory practice, separate banks. that decision was made, and uh, let's wait until it happens. eh, actually passed this law. uh, when the final percentage levels of fines are agreed, while in projects - this is paint loans. it's 10%. of the amount of principal, and the full long-term is five percent of the amount of principal and in addition. and an exhaustive list of handcuffs has been developed , uh, which will allow the bank to make demands for ear

shares of deutsche bank dropped 6% despite higher-than-expected quarterly results and the highest annual5 years. hong kong is hoping to cash in on post-pandemic travel with a new campaign. over a six-month period, the hello hong kong program will giveaway half a million plane tickets and vouchers in lotteries, competitions, and buy one get one free deals. the city state relaxed entry rules months after others in the region and is now hoping to catch up. it lost 3.5% of gdp last year, partly because of the loss of his nest and leisure travelers. those giveaways will initially target the southeastern asian market before expanding. before you ask, no word yet if there will be any direct flights from paris to hong kong. >> that was going to be my first question. i'm in the market for a holiday at the moment, so i would love to have some kind of got away. >> i honestly will. either that or the u.s. either way, i'm going far. >> there's no free tickets to the u.s. at the moment, i'm sure. >> thank you. it is time now for our daily fact checking segment. in today's segment, we are looking at us

the direction is going to be >> and speaking of that, i saw in a few trading notes this morning deutsche bank commentary notes, talking about these trades in the rate market, an outsized new position in the options market, september '23 options targeting a rate as high as 6% that could pay, what, $60 million, $70 million if that comes to fruition. are you seeing a lot of these kind of moves? >> i think it was an $18 million position and if, in fact, you saw the rates go somewhere just north of 5.5%, it paid out at $60 million. if it hit 6%, we're talking about over a $100 million payout something to that effect, i think, is what you're referring to. >> yes. >> there's a lot of people coattailing that trade we've seen open interest reflect that we've seen a massive uptick. so for options, we went from basically nothing open a year ago to record open interest bigger than when the complex was in full swing. we're really seeing an uptake in positions. people are making bets on what the fed may do i do see that on our books here. so interesting >> no kidding. what about bitcoin products, what are

. >> reporter: one of those pieces pomerantz showed us is part of a deutsche bank loan showing trump personally verified his statements are accurate. >> he warns that the financial statements are true and correct in all material respects. and finally, of course, on the guarantee is his sharpie signature "donald j. trump." >> for his part, district attorney alvin bragg is pushing back aggressively. he released a statement about mark pomerantz's book. pomerantz's book is called "people versus donald trump." about that, bragg says that the case against trump, quote, wasn't ready for takeoff, end quote. but what pomerantz says he found evidence of is similar to what cohen testified to. and pomerantz insists he assembled the goods. here's what he has to say to his ex-boss. >> this was a righteous case. you should bring it. it's important. and if you made the wrong decision, make a better decision. >> a veteran investigator and prosecutor laying out for the public the criminal case he built against donald trump is where we start today with some of our favorite reporters and friends. new yo

tom: -- has a fancy deutsche bank and from india -- bank ad from india.nt annualized cd -- this is not crypto, this is deutsche bank. the difficulty is it is in indian currency. you have a currency risk there. boy, has the rate structure changed. i have not seen that since i hadn't known gray hair. jonathan: starting to look more like a high-yield. there is always junk. credit here in the u.s., it is high-yield again, finally. lisa: and people are going into that again which is why it is becoming less high-yield. ♪ conventional thinking delivers conventional results. at allspring, we break away with purpose. harnessing data-driven insights and boundless curiosity. we dissect the market from every angle. helping to build portfolios that redefine what's possible. because investing isn't one size fits all. allspring. purposefully divergent. >> here we are talking about what is the landing look like. i'm looking backwards saying that looked like a landing to me. >> we are going to get a choppy market. >> seeing the beginnings of a regime shift back to a point

deutsche bank and burnstein think we may have hit peak spending and saying that, quote, pricing power in 023 but oppenheimer's says maybe not yet. supply chain problems last year held back some sales. >> relative to say the last peak, 2013 which, by the way, was the last time we saw peak net farm income, we're still 25% below on a volume basis, that high horsepower range based on estimates coming in for 2023 >> now, look at my favorite video of the day a driverless tractor from monarch which stops when it senses a human company started by some silicon valley engineers and one of the mondavis of the wine family taking over the plant in ohio. zero emissions, autonomy some are building them from the ground up but other companies like agco plan to retrofit autonomous functions into existing equipment go there's lots and lots of new technology. what we want to do is allow a farmer to do that at a graduated rate in a way they're comfortable and a way they maximize their return on investment >> i mean, these are huge investments for farmers and they have to be convinced they'll get a good ro

deutsche bank, though, still slightly cautious on that stock.llenged shares are fully valued. we've made it our "call of the day. josh, you own it so much optimism around it including from you i just felt like when i saw this call reiterating a hold, tapping the brakes, was worth discussing what do you think? >> it is worth discussing because it's an expensive stock. the thing is it's never been a cheap stock. even having been cut in half with all the other technology stocks over the last year, even at those levels, it wasn't selling at a discount. but that didn't stop it from being up 55% year to date this year so there are other things at play with these types of names where they capture people's imagination and they put people in a position to capitalize on a trend, and that has been the story of nvidia over the last ten years, way before people were excited about ai. they were excited about the cloud. they were excited about machine learning, excited about crypto all of the next generation cutting edge technologies seem to revolve around non

you may remember wells fargo, deutsche bank and bma all naming uber a top pick to start the year andte a 60% surge in 2023, the street not as bullish. said it was time to take profits. concerned about rider demand unprofitable tax season. uber is on track for losses of $10 billion in 2022. a lot of that has to do with its stakes in other unprofitable companies like soft bank when it comes to the revenue estimates, analysts are expecting a 19% increase for lyft, 47% increase for uber. that kind of tells you how each of the companies are going >> economics are important, carl every unprofitable company is not a company without a future >> indeed. jon, we cannot wait for you and nadella coming up, one of the highlights of the day. we await powell not too long from now the s&p just above the flat line time for the judge >>> all right, carl, thank you very much. welcome to "the halftime report." i'm scott wapner front and center this hour, a little more than 30 minutes away now from fed chair jay powell at the washington economic club, remarks that are sure to move markets one way or the

investors are just setting themselves up for disappointment and if you don't believe me look at what deutsche banko say as well they're negative on the share price. >> and what are is -- what are the analysts' primary concern there? are they also doubting the status of the partnerships with microsoft or the ability to be profitable >> i think both. i mean, it is very reflective in the price targets. you have analysts sitting at $11, $12 a share and again i point to the fact that the consensus revenue estimates haven't increased one iota since the announcement of the ai suite and the announcement of another air force contract which we point out by the way is almost recycled news. this is news the company put in a press conference back in december so there is -- again, there is a lot of hype here a lot of unknown but our base case is actually to agree with the sell side analysts here and we have an applied down side of 45% going back to where we initially predicted the stock was. >> so i guess you don't think that it could be a takeover target or an investment target like a chat gpt was for microsof

mike here to break it down plus deutsche bank's emanuel rosener on ford.anging on to gains. the nasdaq down the most 1.7 feel like the market can't figure out coming off of that high from wednesday and the fed meeting where powell talked disinflation, powell brushed aside concerns about looser conditions can't figure out whether it was a game changer in terms of how the fed would think of how many more interest rate hikes are to come or what's next. >> part of the reason why they can't figure it out. i doubt the fed itself would know exactly what their response would be because there's going to be a time element to how they change policy from here. we have, you know, six weeks to the next meeting we'll see what the data looks like over that period of time. going in small steps, i don't think there's going to be a overreaction because the premise was already, this is a tight labor market and powell explicitly declined to try and pinpoint some very big jump in unemployment that he believes will be necessary to get inflation under control. for that reason the

remember, mervin, he used to be a senior executive, deutsche bank. his colleagues, one said bitcoin was for lawbreakers and troublemakers. he now runs a crooked to fund out of malta. our research shows that the crypto markets are gonna probably be worth about $8.00 trillion in 2027, which is a 50 x. um today. exactly. most financial analysts say you better stick to your chance and bonds and dollars bitcoin is dangerous nonsense. far too risky as investing to others. bitcoin is an escape hatch that will take them away from risk and insurance against the financial doomsday away out of the debt crisis. negative interest rates, trade was an economic downturn. they say it's an anti fragile asset uncorrelated to financial markets. so how about the general public in america, the younger generation already starts to trust this new asset class. and when success, bitcoin may reach a $1000000.00 per coin, i would say the biggest financial mistake you can make right now is to own an amount of bit going that you cannot afford to lose because it's super risky. you