big european investment bank which can be thought of as if you want. potentially a new deal agency or effecting public investments it's been doing it for twenty five thirty years very successfully you know you talk about the infrastructure of the new deal like the tennessee valley authority i mean are you talking about this is what europe needs to be doing in order to invest in itself. so that if you look at the map of europe for instance you find the eastern part. which is part of the unit green. has infrastructure but they still the nineteen fifties and sixties. no fast lane connecting let's say greece austrian german and if such a train were to be built there are lots of us train guess who would benefit the most to be greece and. it will be germany because it's interesting because doing it and that kind of investment be mutually advantageous for the whole of europe all we need to do is simply allow the you're going investment bank to go ahead and make that investment you have been investing in the bank can make the best and wants to make the best me

and they do the european investment bank which can be thought of as if you want. a potentially a new deal agency or expecting public investments it's been doing it for twenty five thirty years very successfully you know you talk about the infrastructure of the new deal like the tennessee valley authority i mean are you talking about this is what europe needs to be doing in order to invest in itself. so that if you look at the map of europe for instance you find the eastern part. which is part of the unit green. has infrastructure but they still the nineteen fifties and sixties. no fast lane are connecting let's say greece austria and germany and if such a train were to be built lots of us train guess who would benefit the most. it will be germany because it's interesting because doing it and that kind of investment be mutually advantageous for the whole of europe all we need to do is simply allow that you're going investment bank to go ahead and make that investment you have been investing in the bank can make the best and wants to make the best me but we still ha

an agency the european investment bank which can be thought of as if you want. potentially a new deal agency or effecting public investments it's been doing it for twenty five thirty years very successfully you know you talk about the infrastructure of the new deal like the tennessee valley authority i mean are you talking about this is what europe needs to be doing in order to invest in itself so that if you look at the map of europe for instance you find the eastern part. which is part of the unit green. has infrastructure but they still the nineteen fifties and sixties. no fast lane connecting let's say greece austrian german and if such a train were to be built there lots of us train guess who would benefit the most would be greece and. it would be germany because it's interesting because doing it and that kind of investment be mutually advantageous for the whole of europe all we need to do is allow that you're going investment bank to go ahead and make that investment you know investment banks can make their best and wants to make the best me but we still h

and also to make sure that the european investment bank aside t provide most jobs for young people.a host of measures there. there will be further meetings in the fall to pick up on these initiatives and also to decide how a separate part of 8 billion euro will be spent to try and provide more jobs for young people. all of the young -- all of the leaders have said the loss of a young generation is a very grave matter indeed. >> thank you very much. in a bid to combat the relentless climb in the jobless rate, they have been looking to germany's success with the dual track training program for craftsmen. >> a combined schooling with two or three years with training with certified masters. let's look at the program one year after its introduction in spain. >> they are learning how to be mechanics. the 220 one-year-olds are part of the first group of dual track trainees in spain. -- the two 21 year olds are among the first. >> the situation is not very rosy. the more advantages you have over the next person, the better. practical experience helps. >> they are almost halfway through the

. >> the fund has collected about $30 million from the european investment bank, major i.t. players like cisco systems, and israeli companies. the donors believe it will succeed and generate a good return, despite all the political tension. >> we are investing in software, which is unlike agro business or real estate or even telecom for that sense is more resilient actually to any political realities that might happen in the region. but at the end of the day, we do sometimes run into political sensitivities and we have to figure out how to manage that. >> the border between the west bank and israel -- a high wall and separation barriers that israel considers a guarantee of safety. for the palestinians, it's a constraint on their freedom of movement. and there's no political movement either. economically there is, at least in the i.t. sector. we visit yamsafer. it's one of two companies in which sadara has already invested. a million dollars means the founders of this travel portal now have the leeway to develop their online booking business. and with nashef and kaufmann, the

and also to make sure that the european investment bank aside t provide most jobs for young people.a host of measures there. there will be further meetings in the fall to pick up on these initiatives and also to decide how a separate part of 8 billion euro will be spent to try and provide more jobs for young people. all of the young -- all of the leaders have said the loss of a young generation is a very grave matter indeed. >> thank you very much. in a bid to combat the relentless climb in the jobless rate, they have been looking to germany's success with the dual track training program for craftsmen. >> a combined schooling with two or three years with training with certified masters. let's look at the program one year after its introduction in spain. >> they are learning how to be mechanics. the 220 one-year-olds are part of the first group of dual track trainees in spain. -- the two 21 year olds are among >> the situation is not very rosy. the more advantages you have over the next person, the better. practical experience helps. >> they are almost halfway through the two-your pr

in the european investment bank, there are discussions around making it easier for medium-size enterprises to access some of the funds associated with employment. something that something across europe. -- we want the discussions over easter that resulted in unacceptable proposals for everyone. lessons need to be learned. ofwas very interesting to me being in brussels negotiating to solution. how important it is and to send that ensured others we would be protected if they guarantee is dependable. it is part of that directive. but i think it also shows the need. underlying the pace of discussions of resolution recovery that this was that it period of be in a uncertainty that existed for so many weeks that cost of banks to suffer. banks to suffer. have been learned and are being learned. >> [indiscernible] -- is that true? you can no longer take money out and invest in other parts of the eurozone area >> the capital controls must not be for the reasons you said included in absence of a single currency. anywherepend the money just in the eurozone or around the world. great requirement for ev

an agency the european investment bank which can be thought of as if you want. potentially a new deal agency for effecting public investments it's been doing it's twenty five thirty years very successfully you know you talk about infrastructure all the new deal like the tennessee valley authority i mean are you talking about this is what europe needs to be doing in order to invest in itself. so that if you look at the map of europe for instance you find that the eastern part. which is part of the unit green. has infrastructure but they still the nineteen fifties and sixties. no faster a connecting let's say greece austrian german and if such a train were to be built there are lots of us train guess who would benefit the most would be greece and. it will be germany because it's interesting because doing it and that kind of investment would be mutually advantageous for the whole of europe all we need to do is simply allow the you're going investment bank to go ahead and make that investment you have been investing in what bank can make the best and wants to make t

investment banks are cheaper than the regional banks. >> morgan stanley has been pinned with being the one with the most european exposure. are you still worried about that in case we start focusing more on the european scene? we started focusing on the fed but if we get back there again is that a for for them? >> the s&p has credit its ratings so there are concern about some of these european investment banks. >> it was all the concerns about greece, its ka. if they have bad headlines out of europe morgan stanley will be the name that goes down the most. their actual exposure to europe is not that big. their exposure to greece is trivial. it will trade badly but it won't affect them in the long term. >> what do they want to be when they grow up? are they a retail bank, the wealth management which i think is lower return business or do they want to be an institutional house? how do you see them getting improvement in roe when it's been suspect over the years in terms of their execution? >> great question. the answer is they want to be less of a trading firm. they want to be an elite investments bank in industries like tec

also we would like to learn a bit more about the european investment bank and how successful it actually is with helping and promoting small businesses. so i issue to you all the usual warnings about sending you the transcript and hope you correct it. nd anything you discuss this morning but it is my pleasure to wish you well for the summer break. and i am reminded that when i was in the european parliament we gave d of ten years him the rather back handed compment of providing him with a letter bound of all his past speeches in the european parliament. y vision for you is to do such composed memorandum for you to take away to some foreign beach and read through them in those odd moments when you have nothing else to enter you. but we hope you and all your colleagues who have come this morning do have a good summer. there are opportunities where this committee will agree with you and we'll strengthen your arm as we did with the banking union. so i thank you. i thank you colleagues and i think my members and asking them to remain seated as we have a further session after that and we concl

we agreed that the european investment bank would increase its lending by 40% with more finance for small and medium- sized businesses. we agreed to do more to help young people not working to acquire skills for proper education and training, very much in line with britain's 1 billion use contract. -- youth contract. to give additional detail and urgency to the commission's work, we went to establishing a new task force with six of our best business leaders to look freshly at the impact of the you on british companies. it is vital that we expand our trade and investment into the uk. that is one of the reasons i was one of the first serving british prime ministers to visit kazakhstan on monday. this country has seen growth at an annual rate between 8% to 9% and the per-capita income has doubled. it has the potential to be the sixth largest will and gas producer in the world. over 700 million pounds will go toward creating jobs right here in the uk. finally, croatia became the newest member of the european union over the weekend. we agreed to start negotiations with serbia and on the stabil

that's what this european investment bank expansion should be about.in terms of energy, we continue to push for completion of the energy single market. there has been progress, but it's an ongoing battle. >> jonathan ash worth. >> the promise is right, and i'm pleased he discussed trade with the prime minister of pakistan. but does he think his efforts on trade will be helped or hindered if the home secretary imposes a 3,000 pound visa bond on visitors from india and pakistan? >> prime minister. >> what the secretary is looking at is the idea of using bonds in some immigration circumstances to make sure we do what is necessary to be done and what the last government didn't do is to differentiate between people who want to come here and contribute and say study at a british university or those who want to come here simply as economic migrants. we do need to have an immigration policy that really does have an emphasis on quality and an emphasis on control. and that is exactly what we have. and one of the points i was able to make in pakistan as i made in

investment banking generally. and it has got that sort of slight growth that the rest of the world -- gaining share in european investmentking, pulls back. it remains a good story. >> do you think the fed will be able to anchor the short end and get a steep in yield curve, which should be, you know, good for banks? >> well, that's a huge debate as to whether this move in interest rates is really good for the banks or not. clearly higher interest rates -- if we go back 10, 20 -- >> if it means proving a margin, yes, we don't know if that's the case. >> they're sending up-front negative requests. capital could be impacted. in terms of earnings, steep yield curve will help earnings in two to three years time. only actually when short-term rates move higher we'll see a real benefit and that may not happen until late 2014 or 2015. so the question is whether stock prices have moved a little bit too fast ahead of that, sending some simpler regional banks, some have moved a lot this year already on that theme and actually if it doesn't come through until 2015, people may get bored and see a setback. >> richard, thank you so much

billion euros of unused funds sitting with the eu, so-called social funds and the eib, the european investment bankloans to small and medium-sized enterprises in those countries who essentially face the credit crunch. so take a listen what they have -- what she has to say on the sheer numbers, where they're upping the budget for that. >> it is not only the number that is -- but where do you want to invest this money. it has to be efficient. and for the first time we have labor ministers and the finance ministers and the heads of public employment services at one table because the investment in mobility in europe, the investment in dual vocational train, skills for the future generation, next generation, and, of course, to fight the credit crunch in southern european countries. these are the three pillars we want to invest in. >> how do you want to export the model to southern europe. a lot of companies are in very bad condition. >> there is european funding to invest in the theoretical training. and, for example, to pay subsidies to those companies who are willing to offer dual vocational training

we agreed that the european investment bank would increase its lending by 40% with more finance for small sized businesses. we agreed to do more to help young people not working to acquire skills for proper education and training, very much in line with britain's 1 billion use contract. youth contract. to give additional detail and urgency to the commission's work, we went to establishing a new task force with six of our best business leaders to look freshly at the impact of the you on british companies. it is vital that we expand our trade and investment into the uk. that is one of the reasons i was one of the first serving british prime ministers to visit kazakhstan on monday. this country has seen growth at an annual rate between 8% to 9% and the per-capita income has doubled. it has the potential to be the sixth largest will and gas producer in the world. over 700 million pounds will go toward creating jobs right here in the uk. finally, croatia became the newest member of the european union over the weekend. we agreed to start negotiations with serbia and on the stability and associa

european bank. they've big investment bank that will survive the shake-up going on.y have very diverse franchise and not going anywhere. and they're one of the banks that really can get investors to buy into their story right now. >> one of the things that has come out on the show so far and across industries, whether we look at bp there or individual banking names in the uk, litigation and it is regulation. to the extent that banks across europe are on the naughty step, no one likes banks and especially not governments, politicians, the general public, do you see more regulation, more fines, more essentially more cash raising using the banking sector as a cash cow across europe? >> certainly -- i'm not sure i would agree with the characterization of using it as a cash cow. but certainly we're seeing across the sector right now, banks are bracing for getting in more trouble and deutsche bank today, one of the big things that hurt there and they set aside 650 million euros for future litigation expenses, which my understanding is that includes everything from future l

european bank downgrades. you have three big firms that were hit and rely heavily on investment banking. what do you make of that? >> specifically, it was credit suisse, barclays, and i believe deutsche bank. all these three banks have had issues because 50% of revenues come from investment banking. as we know, whenever interest rates are going up in the world and there is so much uncertainty, there is so much regulations coming out, these banks will be the first to be hit. obviously moody's has downgraded these banks from a plus to a, to stable levels. i do not see more downgrades in the future. but the stock has reflected that. deutsche bank has been at the 41-42 level the last 12 months, in spite of the fact goldman sachs and other united states banks have appreciated considerably. >> what about the commodities market? we are seeing oil trade higher because of uncertainty in egypt. what do you make of that? >> egypt, of course, is not a major oil producer. however, you have the suez canal their -- there. so everything goes through that country. that is why we see the levels we have no

think the investment banks might be a little bit more difficult, off a the volatility that we've seen globally. investment banks generally are much more correlated to global volatility and european banks have not been acting well. i really don't like that space. >> still ahead, we have done the math and we have calculateded some of the biggest movers and shakers in this week's shortened holiday trading session. we'll take a look at the biggest pops and drops for the week and that's next. >>> "fast money" means trading. everybody's got to bring their best information each and every night. the entire trading day is the preparation for the show that night. >> it's idea generation. it's all about giving you a framework for how to look at the market. so as the world has changed, our show has he involved. i am guy adami. i am "fast money". >> i am pete najarian, i am "fast money." >> are you "fast money"? go to the nbc universal store and order your "fast money" tee. run with the big dogs. with the spark miles card from capital one, bjorn earns unlimited rewards for his small business. take these bags to room 12 please. [ garth ] bjorn's small business earns double miles on every purc

european bank. after financing a multi-billion dollar bailout, they are reportedly considering selling their remaining stake in the company. they are said to be interested as well as the swiss investment bank, ubs. he has been feeling the pressure for some time. after five years on the job, his time may soon run out. >> banks are not the only firm still struggling with the fallout of the crisis. a new survey shows a wave of a group c heating all kinds of companies. >> insolvencies were up more than 48% last year compared to 2011. that is according to the rating agency. >> what if those bankruptcies mean more unemployment and misery for ordinary people. we meet at one family coping. >> she has to go to the dentist to reschedule an appointment for her son miguel. her five-year-old boy has cavities and that can get expensive and portugal. very expensive. >> miguel needs dental work. that'll cost about 600 euros. and because the state health insurance will not pay for it and i do not have the money, i was forced to take out a loan to pay the dentist. >> life in the portuguese town is not easy. she is unemployed. she has to count every penny. >> shopping is an adventure. i often have to ca

european bank. after financing a multi-billion dollar bailout, they are reportedly considering selling their remaining stake in the company. they are said to be interested as well as the swiss investment bank, ubs. he has been feeling the pressure for some time. after five years on the job, his time may soon run out. >> banks are not the only firm still struggling with the fallout of the crisis. a new survey shows a wave of a group c heating all kinds of companies. >> insolvencies were up more than 48% last year compared to 2011. that is according to the rating agency. >> what if those bankruptcies mean more unemployment and misery for ordinary people. we meet at one family coping. >> she has to go to the dentist to reschedule an appointment for her son miguel. her five-year-old boy has cavities and that can get expensive and portugal. very expensive. >> miguel needs dental work. that'll cost about 600 euros. and because the state health insurance will not pay for it and i do not have the money, i was forced to take out a loan to pay the dentist. >> life in the portuguese town is not easy. she is unemployed. she has to count every penny. >> shopping is an adventure. i often have to ca

. >> the european banks have been weak over the last couple of months. that generally doesn't bode well for the investmentking name, including jpmorgan. >> let me play devil's advocate very briefly, with the rates rising, wouldn't it help jpmorgan chase and not help wells fargo in the mortgage markets? >> in the past five years, when we've seen the volatility in the rates, they'll underperform. that's a long-term three to five-year story that doesn't impose well on a six-month timeframe. >> all right. very good. good to see you both. thank you for your thoughts today. >> thank you. >> appreciate it. >>> the final stretch of trading. the dow jones industrials down about 71 points here. we've got just about 30 minutes before the closing bell sounds. >>> if you keep your home warm in the winter and cool in the summer, a new company is analyzing electricity bills to identify the energy hogs in your neighborhood. we know who you are. is this a name-and-shame campaign, or is there more to it? we'll find out coming up. >>> and "lone ranger" was supposed to be the hero, but a spate of bad reviews has some wonderi

european infrastructure bank has been. the european infrastructure bank generates over $350 billion of investment in the e.u.'the same. i want to close by harkening back to what senator klobuchar said in the opening. eighty years ago, the bill was signed by roosevelt and passed by congress. that bill led to the building of the triburrough bridge, the oversee highway bridge that linked key west to florida, it sparked 34,000 transportation and infrastructure projects in the united states of america. six billion spent equivalent to 106 billion today and did wonders for the country. we have a can-do state and harkens back to the challenges and met them by investing in our future, we can create millions, literally 4 million new well paying jobs that can't be outsourced at the 200 million level of investment, create millions of jobs, improve public safety, improve the quality of life, reduce the cost of doing nothing for the citizens, and return america to economic greatness. there's no excuses. time to do it is now. simpson-bowles recommended doing something in the midst of the debt restructuring. we can do that.

european commission suspects 13 large banks colluded in swaps trading. the comission is investigating the banks, such as citigroup and jp morgan chase. the regulatory agency alleges the investment firms worked together to block attempts by trading exchanges such as cme group that wanted transparent prices on credit default swaps. often the contracts are insurance payments for when a company or country skips out on its debt. citigroup is hit with a massive fine. the bank will pay $968 million to fannie mae over bad mortgage loans. it will apply to over 3.5 million loans from 2000 to 2012 that fannie purchased from the bank. the fine will resolve potential losses from the loans. early this year, bank of america paid a similar fine. citigroup reports earnings july 15th. an elaborate money-smuggling scheme has ended with the arrest of a vatican accountant. it's the lastest corruption scandal to hit the vatican. according to reports, the monsignor, named "don 500" by the italian media, was plotting to carry 20 million euros from a swiss bank account to italy. the plan was he would go unnoticed because of his rank as a vatican official. the monsignor says he was only trying to help h

european banks got a not so welcome wake-up call from standard & poor's. the s&p cut the rating on deutsche bank and barclays from a-plus to a. worried about the size of their investmentking portfolios also worries about new regulations on those banks were cite for those downgrades. >>> and you know electric carmaker tesla? well, this san interesting story. tesla seems to be gaining ground in a grassroots effort to manufacture directly through customers. its petition on whitehouse.gov, crosses the threshold that requires some sort of response from the obama administration. elon has been going through this, fight for this, some states pushing back, and now the white house going to have to weigh in. >> i suppose it gives more options to consumers. the thinking here by tesla, they won't be marketed correctly, necessarily at these dealerships. tesla is an unique car. it's an electric car. and frankly, profit margin, too, is bigger if you sell directly. >>> coming up, the international manhunt for edward snowden is intensifying this morning. and there's a diplomatic snap f snafu. a president's plane forced to land. connected, some thing, to snowden. the drama that unfolds

a-plus at standard and poors and the reason is that concerns about the outlook for the investment banking model of europeanmore importantly, because of the uncertainty about the regulatory environment there, and you can see the shares moving lower in today's session. one bank that was excluded from the downgrade we should note is the swis bank uds. >> and what does the health care law mean for health care providers? we will have allen miller next to weigh in on that. >>> and the egyptian military to make an announcement ahead of the deadline for president morsi to reach a deal. we will bring you all of the headlines. here is a quick look at the vector of egypt still under pressure, but holding up better than you might think. bjorn earns unlimited rewards for his small business. take these bags to room 12 please. [ garth ] bjorn's small business earns double miles on every purchase every day. produce delivery. [ bjorn ] just put it on my spark card. [ garth ] why settle for less? ahh, oh! [ garth ] great businesses deserve unlimited rewards. here's your wake up call. [ male announcer ] get the spark busines

investment ideas. good morning! it's monday, july 29th. i'm angela miles.. in today's first look: the emphasis is on the economy this week. the federal reserve, the central bank of england, and the european central bank all meet on what's being called "super tuesday." trading volumes in the stock market could slow down ahead of the fed's announcement. friday, the dow bounced back from a 150-point drop to gain 3 points. the nasdaq edged up 8 points, and the s&p tacked on 2. gold picked up 4 dollars, and oil fell 80 cents. at the pump, gas prices are on a slow drip. a gallon of unleaded is 4 cents less than about a week ago. and, as backdrop to trading, israeli and palestinian negotatiors meet this week in washington for peace talks. we are off to the races on this monday morning with scott bauer of trading advantage. good morning, always good to see your face on our show. thanks for coming on, and what do you expect ahead of the fed? we have a big fed meeting happening this week. - not only fed meeting, but just a slew of economic reports. and you know, the market actually finished strong last week on the heels of some earnings which weren't really that great, but the market was really re

we'll preview the investment bank's numbers when we come back. >>> just joining us this morning, europeanff the session lows, ftse up 10 points. xetra dax down ten points. xetra dax had slightly weaker investor confidence as evidence by the zew survey. cac quarante down half of 1%. u.s. futures, indicated pretty flat for the open and they still are. the dow is currently 11 points above fair value. s&p is just about .75, follows the best eight-day win streak since 2004. >>> on agenda, june cpi out at 8:30 eastern. consumer prices, inflation forecast to rise 4%, you strip out food and energy. 9:15, june industrial production. at 10:00, the monthly sentiment survey from the national association of home builders. also kansas city fed president esther george speaks about agriculture and the economy at 2:15. coca-cola, goldman sachs and johnson and johnson report earnings before the opening bell. after the close, we expect yahoo! we'll hear from them and csx. back to goldman. it reports second quarter figures at 7:30. the company should be earning around $2.86 a share. revenue just under $8 bil