frankfurt is emerging as a slight winner from brexit.said they are weighing a similar move. frankfurt is gaining in prominence in the wake of the brexit vote. there are many financial hubs like paris, dublin, even more so in poland that are trying to take some of the financial services pie in the wake of the brexit referendum. let's turn to italian lenders because monte paschi announced a five-year restructuring plan with the help of $6 billion injected from the italian government. we spoke to their chief executive and he said this is clearly a turning point. >> this will be a good case to see to what extent the overall scheme of the precautionary actually works. as far as the bank is concerned, i think that for us, for me, for my management team, for all of the employees of monte paschi, this is a turning point. the dust has settled and there is clarity and transparency on what the capital structure of the bank is and will be going forward. what is the impact of the final disposal of $26.1 billion of gross npl. and the line and come up

let's get to frankfurt and our banking report of.y always have an option there on the back of the clause. deutsche bank is merely joining the fray in terms of preparedness for the worst-case scenario, or is it a branch change? >> that is a good question. changes, preparatory the decision has not been made yet. so, it is in line with the other banks preparing for the fallout of brexit. what it could mean for the business models, but it seems placeale of change taking is beyond that. they have -- in march they unveiled a new strategy focusing on germany and europe and this seems to be part of it. so, it is more than just brexit preparation. in my view, it is a strategic reconstruction. anna: so, how much is this going to change the bank? compare this to what other banks have been telling us. steven: well, london used to be, or still is, the trading heart of deutsche bank. and beginning to move assets would mean moving them out of london. i think the character of deutsche bank, which has said it wants to be more german, is beginning to

so frankfurt, paris, amsterdam ? the competition? so frankfurt, paris, amsterdam?rt and dublin. luxembourg has done well for fund managers and lloyds of london surprised people by going to brussels. who is going to berlin? there is one going to berlin, ush‘ right. the picture is of dispassion. it is not that frankfurt is suddenly overtaking the city of london or paris, some banks are going to paris. different companies are choosing different locations, the idea that we were going to have a new financial centre of europe growing up to replace london doesn't look to be true. how worried is the city of london? we don't know. it is all around all this stuff, we don't know what the final trading relationship between the uk and the eu will be. 0nce relationship between the uk and the eu will be. once we know that, that's when we will know how worried we have to be. happy monday. enjoy. we're back tomorrow. are you back tomorrow? yes. i'm back tomorrow. tune in. bye—bye. good morning. it's the last day ofjuly, but for some summer is temporarily on hold. an unsettled week

frankfurt has done reasonably well.ree significant japanese banks but the labour laws are very different from the uk. the germans have come up with the concept of identifying so—called risktakers, effectively what you might call the traders in investment banks that they will change the rules of the bank wants to get rid of the risktakers, they could do it easily without applying german labour laws. they can change the laws —— the rules so easily, the banks will be concerned that once they have got them, they can change them. some of the american banks would say exactly that which is why they will not be rushing to frankfurt. those labour laws are one of the big issues for the banks with concerns of moving to france, it's difficult to dismiss people. concerns of moving to france, it's difficult to dismiss peoplem concerns of moving to france, it's difficult to dismiss people. if you look at the way the us banks have rebuild their balance sheets, a lot of it has been by laying off staff. you can't do that currently in fra

indices to frankfurt. steven arons breaking this from frankfurt. what is the timeline of this? is going to start happening and they are laying the groundwork. there start reaching out to clients in september. then they will be building up the i.t. , they willr from now start moving those trades and hope to complete this by march 2019. vonnie: if this project --is this project just about the balancing and reporting in a different jurisdiction? or is it about jobs, stephen? is it the same effort moving jobs to frankfurt? steve: it is also about jobs. this particular project seems to be about the assets and the scales. london is still a very, very important booking hub, and this is moving to frankfurt to a large extent. but jobs will be affected. client -- client counsel be moved. it is clear that some traders and risk managers will certainly move. we've heard about a few hundred but the exact numbers not entirely known. ,ark: is john cryan essentially the chief executive, is he girding for a hard brexit now? steve: what deutsche bank has been saying if they're hoping for the best

annette joins us from frankfurt. good morning are we expecting more cautiousness from mr. draghi today then >> well, good morning. what we probably expect in frankfurt is more a balanced approach to the language you referenced the speech in sintra, that was taken quite wildly by the markets. the ecb was not happy with that what they want to avoid by all means is a taper tantrum scenario here in the eurozone. perhaps you can see that speech in sintra as a test case how sensitive the markets are. that was quite visible the day with yields spiking in the bond market, the euro jumping that's what they want to avoid today i think the focus will be on the balanced approach while staying on message that the economic recovery is surprisingly strong in the eurozone, and that inflation eventually will get there. another area of focus is the focus that we need to be persistent and at the same time prudent in order to avoid those volatility in the various markets. that will be the main area mario draghi will try to tackle in a press conference it comes with a tweak in language of cour

when i talk to different bankers, with a talk about his frankfurt, paris, -- talk about is frankfurt,is, luxenberg. a lot of these banks already have a banking license in dublin. when you have these four different areas and frankfurt, i been, theys always don't have good schools for my kids, not as much to do, the nightlife is and is great, which is something people think about when you are moving wholesale these entire units. if you have somebody like morgan stanley going and saying we are probably going to be picking frankfurt, then you start to have more of a banking community and there will be others who choose that as well. julie: interesting. we shall see. thank you so much laura keller. still ahead, what could help media companies cut costs, gain negotiating leverage, and expand net internationally, mergers, maybe? that's next. this is bloomberg. ♪ ♪ julie: this is "bloomberg markets." time for the bloomberg markets it deals report where we zero in on the m&a business with insight and analysis from the biggest players behind the deals. it today we are talking cable networks own

here's what he told reporters in frankfurt. ofa very substantial degree monetary accommodation is needed for underlying inflation pressures to gradually build up in support headline inflation development in the medium term. vonnie: for more analysis, let's bring in richard jones, fx and break strategist for bloomberg markets live. the euro reacted, but what did we hear that we were not expecting? richard: it is a bit of a tale of two markets if you look at the periphery and the core yields. yields are lower because mario draghi emphasized haitians, prudence and they will -- patients, prudence, but i think the currency is rushing higher because in the queue end a session, he was asked about euro currency strengthen and he did not push back that figure a story. he talked about financial conditions, so there was a slight push back but it was not vigorous. as a result, that is why we see this grind higher in the euro. we are not pushing into new territory there were we have not 1.16 in are just below euro-dollar, so we are not raci

int entity to frankfurt. the project calls for trading in in german city to go live september, 2018, and the assets to be moved by 2019. that follows britain's decision to leave the european union. global news, 20 four hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. francine: of that shares fell -- alphabet shares fell. the company spends more to expand the advertising businesses. the company reported sales minus partner payouts. that was in line with analyst consensus forecasts. by at was also hammered record antitrust fine from the european union. let us get more of all of this , joining us from tokyo. surprisethe biggest when it came to google or alphabet? peter: it was really the operating margins. there was a strong increase in revenue overall. the ad business is strong in a number of different areas. google is seeing that the margins on the revenue it is bringing in are going down because of the shift in the traditional advertising they have on pc's towards mo

frankfurt is deathly emerging as the brexit winner.e are talking about a couple thousand jobs moving to frankfurt. some other names have announced they want to make it a hub. that is deathly a thing we are observing us the moment. >> staggering numbers coming out of the latest ecb report. north of 40%. north of 40% takes place in london. when you look at the city of london, there are still big things going forward that aren't necessarily going to disappear in march 2019. i think that is something that is being negotiated. much.ainst moving too would incurost because of an efficiency so i really don't know at this point how much it will move. >> thank you very much. >> jeremy corbyn is set to meet week.hief negotiator next corbyn spoke to johnson in london. >> we did not win the majority of the we put on a large majority of votes. this government doesn't have a majority. >> so you think things could change quickly >> i think change -- i think things could change quickly. i'm ready for another election. are many unknowns in british polit

it currently books in london to frankfurt. let's get more on this story. deutsche- why does feel it needs to move staff in such a way? is this brexit-related or more related to the changes that john cryer is bringing at the institution? stephen: it is a little of both. it is brexit triggered. budget is now a good time for the bank to think about its footprint in the u.k., but also its footprint in germany where it said it will focus on much a retail'sefore exterior. -- retail subsidiary. it seems to make sense when you think about the changes that need to be made given the brexit situation. guy: logistically, what does this mean? , desks they can move people into. today need to take on additional space? what does that mean for other ions?tute steven: i don't think they are looking for new space yet. they just move the investment bank in frankfurt to a new building and there seems to be a little space available. we are talking about huge moves yet. they won't happen until next year anyway and a few hundred people move at first. he will be able to accommodat

frankfurter allgemeine focuses on porsche who will recall 22 thousand of its cayenne model over ‘irregulargine management software. the luxury carmaker is owned by volkswagen, which admitted it had fitted some of its cars with a device to cheat on emissions tests. the guardian financial pages report on falling profits at sky television. the broadcaster has suffered a drop in subscribers as customers switch to popular streaming services such as netflix and amazon. and finally the boss of amazon, jeff bezos, has been crowned if only briefly the world's richest man. mr bezos‘ worth reached just over $90 billion, which put him ahead of microsoft founder bill gates. that's also in the ft. with me isjoel kibazo, who's an independent media and public affairs consultant and managing director of fti consulting. thank you very much forjoining us. let's start with this story in the independent, worship turns to violence injerusalem. independent, worship turns to violence in jerusalem. indeed. there was a feeling from israel that by removing the barriers and restrictions that had been placed, which we

entity to frankfurt.ccording to a person familiar, the project dubbed, calls for trading in the german city to go live in september of 2018 and the assets to moved by 2019. that is as asset trainings migrate to the climate following brexit. poland's government has vowed to redouble efforts to overhaul the judiciary. this after the president struck would bill yesterday that have replaced the country's supreme court judges and revamped the judicial council, which makes key personnel decisions. his decision followed eight days of nationwide protests by tens of thousands of poles. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. i've got some breaking news. thanks for that. this is about a german bread -- private drug maker, they have 66.25ed an offer at share. and cinven have been working on this. elliott already owns about 9% of stada's voting rights. they may get in on the deal too. bain and cinven are going to buy stada after sha

(pres i + ani) german financial hub frankfurt is looking to make —— german financial hub frankfurt is to attract international banks. it's offering exemptions from aspects of its labour laws, which currently make it difficult to fire people. that's also in the ft. in the daily telegraph, uk charities may face hefty fines if they continue to pester member of the public by phone, text or email. the new rules are being introduced this week. a shattered—looking stan wawrinka has been knocked out of wimbledon. seen here on the independent, the fifth seed lost to 2! year old daniil medvedev on the first day of play. would you forget your head if it wasn't screwed on? well, researchers in the times claim memory lapses are actually good for your brain. they say our brains actively promote forgetting, to help with overall efficiency. thank goodness —— thank goodness that, i am so relieved. with me us lawrence gosling — editor—in—chief of investment week. we will talk about the getting stuck ina minute we will talk about the getting stuck in a minute because i am

and frankfurter has 70 protÉges around the capital that they were known as frankfurter's happy hot dogs [laughter] >> tommy was a pretty happy hot dog, but frankfurter set missy a lady of introduction and that i would like you to meet my friend tommy and i think he could do that present a lot of good. she met tommy and they hit it off great and she recognized his abilities so she brought him into the white house one night to play the accordion after dinner. fdr loves to sing around the piano or the accordion or guitar the white house and tommy had a fine irish tenor voice and then he started showing up at missy's office in the mornings and he would say i was on capitol hill or i was at a cocktail party and she would say let me go tell that. she would say tommy is here and says such and such and more often than not fdr would say send tommy and and that's how tommy got his influence and became the white house lobbyist on capitol hill. he worked for the federal government already, so he was a federal employee, but the white house did not have a lobbyist and he was entered call to pushing t

said to havey picked frankfurt has its european union trade headquarters in the post-brexit world toocate some of its broker business to the city, while moving part of its assets to dublin. 200 are going to frankfurt. haidi: the softbank boss finds he has green fingers. 200vision fund is leading a million dollar investment and a company that has perfected the growing of crops indoors. it is his first array into agricultural and has the potential to boost food production around cities and can improve equals quality of life. rishaad: spotify being sued over by frankiectices valley and the four seasons owners of rights. capital over the years without ensuring copyright holders are paid appropriately. pay are saying they should $375 million for the enduring infringement. haidi: let's get back to those jobs numbers out of australia a few minutes ago, the implications for monetary policy direction with a strategist at nomura australia. always the fund data released today from australia. the headlines pretty normal. the full-time jobs number jumping by 62,000, unemployment falling by 48,000

i'm in fright front of the famous frankfurters were they been dish not the dogs for more than hundred years. competitive eaters come from around the world for the most famous eating contest, i'll think of had a more it enjoyable way to eat this delicious frankfurter, i have a dream to eat the franks and the ultimate atmosphere, floating on my back in the atlantic ocean. on my raft. >> way windier than i thought it would be. >> do think i can do it? i think -- d1 hotdog? two on hotdog? i'm having an ocean picnic. i should've forgot the fries. those are problem. the fries are not going to make it. can you all my fries? you hold the hotdog and get on the raft. push me out. push me out. all right. i'm doing it. i'm doing it. there's no meat in this one, what happened? what happened to the frank? what happened to the frank? here we go. i have to finish my hotdog first. right young men you can't be out there. you're out there having lunch. no flotation devices in the water. because people don't how to swim they rely on the flotation device and if the flotation device goes down they go down.

nonetheless, frankfurt does seem to be winning in terms of what we have heard from other banks as well: true. i think it is seen as a center of eurozone finance because that is where the ecb is. given there is also the regulator there, there may be an advantage in opening your first hub there. in terms of the number of people, it could be a couple hundred and that would not be the majority of the employees a lot of these big banks have in london. nejra: thank you so much to line all around l --ionel -- lionel laurent for joining us on the program. vonnie: daimler announcing a voluntary recall for 3 million diesel vehicles in europe. daimler announces a voluntary recall, 3 million diesels in europe will be recalled. to upgradevesting diesel cars. daimler recalling 3 million diesel cars across europe to fix the mission problems -- emission problems. they are down 1.32%. health second-quarter earnings adding close to one million people in the retirement and medicare unit. it was calling it a quick in the affordable care act, was there a reason for success? we will find out. this is bloomb

what is the headcount that you will be moving from london to frankfurt? balance actually come already in germany, there is this idea of a london branch, but the booking is in -- whether we have an adjustment to where our people are depends on what a brexit looks like, what the rules are. from the perspective of a contingency planning, we need to ensure that we can do in germany in april 2019, pretty much that we can do in london today. we know that means moving, adding at least, some operations people here in germany. not sure about moving, but certainly from the perspective of making sure the competence stays the same, we do need to build in germany. there is a positive impact here. we do not know what the impact will be in london. we genuinely don't. vonnie: that was deutsche bank's ceo john cryan, speaking with matt miller in germany. a new ridesharing game is in town. a shuttle service is expanding to new york city. trying to fix the city's traffic congestion, next. this is bloomberg. ♪ ♪ vonnie: this is "bloomberg markets." i'm vonnie quinn. time for

frankfurt is going to become one of the more frankfurt global financial hubs.he stock performance over one year, up by nearly 85%. european markets called a little softer. interesting stock stories out there. this is bloomberg. ♪ >> remember, the legacy from the states, not exactly great. the story surrounding health care did throw the markets and to reserve on the equity front yesterday. we were down a little but yesterday in the u.s., certainly we are not expecting ia great open this morning. the ftse 100, down, 0.2%. the dax, a little softer than most. stocks tow watch this morning. keep an eye on ericsson. lufthansa, a slightly better open. slightly positive news coming from barclays. more broadly, just in terms of the numbers, they look like they outperformed ok expectations. they have definitely done better. the european market is just about to open. we are anticipating a soft start. 74.04. 100 cannotftse make up its mind as to which way it will go. other european markets are expected to be down similar amounts. you might get a little bit of an underperfo

entity frankfurt -- different for. -- two frankfurt.s for trading in the german cities to go live in september 2018 and for the assets to be moved over by march 2019. that is as client trading and assets migrate to the continent following britain's decision to leave the eu. global news 24 hours a day, powered by more than 2600 journalists and analysts in more you can findtries more stories on the bloomberg at top . we are seeing the close of markets in japan and australia. the nikkei is down by 20 points. the low that 20 -- 20,000 point level. the yen rebounds for the sixth straight day of gains against the u.s. dollar. australia doing well, closing higher by .8%. the nikkei has gone weaker, but did touch the 10,000 point level for the first time today in india and you are seeing downside from the csi 300 stocks and hang seng in late trade. we seen property developers come under pressure in the chinese session today. in terms of other stocks, toshiba under pressure in tokyo, closing down by almost 5%. saudi news saying the auditor m

. >> moving to frankfurt for them is on a relative basis.ntly said they are preparing for hard brexit. they are, in some way, considering this. to what extent is this plan contingent on a hard brexit? or will this change no matter what type of brexit we are talking about? is it already trying to shift the focus more to focus on the entity?art of the >> let's make a plan for hard brexit. has some factors that may lead them not to scale it back as much. would like to scale back as much as they could. i think it kind of varies bank to bank. >> is that why it's called bowline? we have to come back to that. you've got it in the notes there. >> it is maritime with the edges and it can be easily untied when it's not under lows. >> your banks are considering shifting. we're talking about frankfurt. it is a very different city. it is not traditionally seen as a place to live. >> i see it is exciting for berlin. the fellow german city. it is a bit cheaper. that will be one of the appeals. some of the banks will do local hiring and some downsizing. the

i went to the frankfurt motor show and ended up staying in, it was more like a monastery cell, it wasrankfurt motor show or the 620 the best hotels are booked. if you know journalists, we go at the whim of the editor and by the time you get there only the greatest rooms are available. and he's still got there and did the job. available. and he's still got there and did thejob. —— the greatest rooms. that's it from business live today. there will be more business news throughout the day on the bbc live webpage and on world business report. we will be back on monday, we will see you then. temperatures will drop in the next few days becoming cooler, yesterday was hot, 32.2 celsius in london. very warm in the midlands and the west country, fresher further north, today will still be very warm in the south—east with sunshine this morning, staying largely sunni, a bit more clout, perhaps the occasional shower, nowhere near as torrential as those we saw yesterday, eastern parts of england, if you got caught in one unit about it, the odd shower around as we go into the afternoon and north—east

the capital that they were known as frankfurters happy half looks.[laughter] and tommy was a pretty happy half blog. but they sent a letter of introduction that said i would like you to meet my friend i think that he could do president a lot of good. so they hit it off great and she recognized his ability. they played the accordion after dinner and fdr loved to sing around the piano or the accordion or the guitar, the white house. let me go in and tell fd about that so they said such and such. more often than not fdr would say send tommy in and that's how he got his influence and became the white house lobbyist on capitol hill. the white house hasn't had a lobbyist and she was in trouble to pushing all this legislation that was going through at the first 100 days it's got a lot harder because the crisis was over and there was an overwhelming majority in congress. democrats were an unrulydemocray coalition kind of like republicans today. it wasn't always easy to get things passed so that was one of the many things miss the data. unfortunately, she bec

sandwich, a coney island sandwich and the most egregious a frankfurter sandwich with catchup. the paper says, quote, we deeply regret the errors especially the last one. >> and i love how they spell ketchup, c-a-t-c-h-u-p. why isn't a hot dog a sandwich? >> i think it is a sandwich. i think the earl of sandwich is a historical figure and i believe he would say that a frankfurter sandwich and -- >> stay tuned for the two two-hour edition of "good morning america" this morning. adrienne will -- >> paula will keep talking. >> kait parker, what say you? >> there were rails. we've gone off those rails so we're going to talk weather now. >> i'm going to say sandwich, okay, but here's the thing about we had 150 reports of severe weather yesterday here's the deal, it doesn't take something like a tornado to create damage. this is are a micro burst, hail coming down, wind intense, terrifying moments for a lot of folks and they continue overnight into this morning especially in iowa where we've seen flooding. that was in illinois where we had the reports yesterday. iowa is where the fla

in europe stocks opened slightly higher — dax in frankfurt higher — dax in frankfurt and the cac a0 inentral bank meeting which could indicate whether the ecb will start tapering its own stimulus programme sooner rather than later. after another soaring close on wall street yesterday — what will today have in store? here‘s michelle fleury. investors‘ focus on earnings is set to continue this thursday with attention turning to one of the biggest names in technology. microsoft reports its fourth—quarter results after the us market close, and its cloud business is expected to remain a key driver of growth. wall street will also hear more about the reorganisation of its sales staff. the tech giant confirmed earlier this month there would be lay—offs, but it didn‘t disclose an exact number. there are also plenty more firms reporting earnings and among them is visa, which reports third—quarter profits. the company makes money by facilitating credit and debit card transactions. india‘s efforts to go cashless should provide a boost to its bottom line. and with more coal being transported aroun

he joined "the new york times" in january, 2010 as a business and economics writer based in frankfurt. during

whom have independent currencies and are really -- have their hands tied by what is going on in frankfurtthe swedish antral bank said recently in interview, that when you are next to an elephant you need to tread tear philly. >> absolutely. that -- it'seden easing bias, what risk are they running changing policy? catherine: if they move before the ecb, it will put pressure on the currency, narrow the interest rate differential, and that could have a negative impact on inflation rates. switzerland introduced negative interest rates in early 2015 in a bid to widen the interest rate differential and take pressure off the currency. vonnie: what about countries in eastern europe? how does it impact them? caroline: they too are in wait burt.e mood for frank they expected to keep rates on hold through 2018, romania is also concerned about hot money inflows. theaps the loan -- out of clks they are hoping there is more action in frank burt. vonnie: what if they don't entirely get on their own policy settings? caroline: i think the swedish have clearly said that they will not act before anything ha

says you have to move to frankfurt, does life get hard? all seriousness, you look it how this negotiation continues. here is the breakfast phil. we're going to pay the money. >> it is easy enough to move house but to take the parts implement with you is going to be difficult. i don't think in the -- it is in the uk's best interests. maybe you start to ask her more and at some point you find a middle ground. i think that is where we are. it does not look like a positive for the u.k. >> when this happened over a year ago, we thought it was quite simple. like this might be more than two years. >> it has to be at least a five-year timeframe. i wonder how much negotiating power the u.k. really has. i feel like the scales are tipped for the eu. tohink they're going to try drag it out for as long as they can to try to get into advantage. >> talk about a crazy move. yesterday, the euro-dollar. how far do you think euro-dollar can move? i will address that question. essentially, all of this is happening while good things are happening in the market

the frankfurt dax up over 6/10. let's take a look at more of business headlines for it teslas new model for he has passed all regulations for production according to ceo elon musk. in 2016, the company produced just 85,000 vehicles. numberys he expects that to reach 500,000 in 2018. discount cursory chain is set to spend 5 billion overhaul its stores around the world. seeking underwriters offering.ic dropbox was married at $10 billion in 2014. >> and business, some eastern european countries are up in arms on what they feel is a raw food --the process broad deal on the processed food dealt -- broad --while the same brandon auster contains real sugar. products werehe sold at higher prices despite having cheaper ingredients. >> thank you for that much -- that look. time now for our press review. >> julia star with record number of migrants coming to its sure. >> yesterday, the in town and interior minister met with the french and german counterparts in a meeting to discuss that situation. you can read about india tyin

citigroup has settled on frankfurt as its newest trading hub in the european union.ng to someone with knowledge of the situation, they are looking for approval this week. they look to expand in germany, 200-250 neweate role there. >> thank you. has toldanking regular brokers to lower -- after themes presidency has told the central bank to defend against risk. droppedghai, is it after its biggest one-day drop yesterday. >> let's big two hour economic correspondent. so is china getting serious about curbing a financial rift? if they are, we could see what yesterday,the china -- chinext yesterday, or maybe that is a story for another day. >> the language for the meeting is quite striking. it was said it would be a dereliction of duty if they were not to tackle this. they are likening it to national security. just say we had the front page .f people's daily warning us i think the language is being ramped up and we're seeing steps being taken. we are seeing a move on parts of , companieserates buying assets around the world last year on a record shopping spree here that i

. >> do you think frankfurt is the location of choice or -- >> i think frankfurt is a location of choice there are different other locations that could come into consideration. i think about amsterdam, madrid, in different shape or forms. things that at the end of the day as we speak we are narrowing down really the options. as i say by the end of the summer, early part of q4 we're going to make a decision >> that was an exclusive interview with ceo of ubs. head to cnbc.com for the full conversation. >>> let's talk about u.s. treasuries which were boosted by better than expected nonfarm payroll numbers for june last friday 222,000 jobs were added to the u.s. economy well ahead of 174,000. employers added more hours, average earnings rose 2.5% year on year, shy of estimates. i am joined by the chief investment officer at dalton thank you for joining us. >> good morning. >> let's start talking about bonds fixed income what you're seeing there, my understanding you have a statement trade for various developed markets. >> we have been negative on fixing government debt for quite some time. d

another win for frankfurt. what are we talking about, front office or back-office or a mix? said it could be a mix of them. that is at the high end. some of it will certainly depend on how negotiations unfold and how hard the brexit appears to be. but we have heard deutsche bank not only looking at the people side but also the assets side as well, and making plans to set up a booking center in their from for office -- frankfurt office to really route some of the things through their. that potentially is a way to address the passporting issue. hashe saudi led block accused the country of failing to recognize the situation, describing the response to demand as negative. the group shows complacency and lack of seriousness to do with the problem, but stopped short of imposing the sections. what is happening with the timeline? >> we know that the alliance has said they will meet again to discuss qatar's response to their list of demands. they have not said when exactly they will do this. in terms of what happens next, we have to watch for the impact on qatar. it could come about

>> with a heavy heart, the oldest son reflected on the growing memorial outside her boyfriend's frankfurt home. it was two weeks ago when police say next door neighborhood shot and killed dempsey, a mother of two, a father of four. prosecutors charge canned with first-degree murder in the couple's death. >> friends and family held rallies on the block to put pressure on authorities to bring charges. detectives have been investigating whether this may have been a case of self-defense or murder. neighbors say there had been ab ob going feud between him and depaul. >> justice is being served, but we have two people that are gone. their children left behind. it's horrible. they were just our neighbors and our friends. i can't even imagine how their children are are. >> reporter: for the 20-year-old who has a 14-year-old brother, staying positive helps to dull the pain. >> thank you, everybody, locally, around the community and throughout everywhere for showing your support and honoring my mother and her boyfriend robert. >> reporter: reporting from frankfurt, rosemary connors, nbc 10 news. >>

ng my colleague sat down with him in frankfurt. >> we continue to work on our costs.eadcount has started to come down. that is a mixture of the work that we did to restructure in germany, which is now almost complete. also we have been internalizing some of our technology in particular. the headcount has come down which will come through as reduce costs in the future and we continue to modernize the bank. we distinguish between running and investing, and we want to keep up the investment because he wants to move on from the modernization program. a bit of a mixed picture, but we have been focused -- focused on costs, and now we are can be more focused on revenues. you brought it down to some extent, in the last few years -- have you started to turn that around because surely if you want to get -- the best talent, you have to pay for it. >> we recognize that we were a bit of an under pair for a few years -- under payer and we wonder rectify that. have you noticed that you underperform your peers in the u.s. question mark>> i would argue against that, especially in fixe

morgan stanley will move its european broker-dealer business to frankfurt from london.agement operations will move to dublin. written may now be able to -- britain may now be able to take back control of its favorite dish. we are talking about north sea cod, the staple in green -- ingredient in traditional fish and chips. stewardship council said cod can be sold with a sustainability certificate. ♪ i don't know how popular fish and chips -- julie: this has been a big source of controversy over there in the u.k. that people were getting enough, in their fishing -- enough cod in their fishing chips? nejra: i am wondering if this is happened because of the substitution because you don't just get cod in fish and chips. guess peopleut, i have been going for other options. i don't how much you guys like fish and chips in the u.s., but it is a cardinal sin here. i don't like the batter, so i take it all off and eat the fish. julie: i don't know what the point is then. of course fish and chips is popular. ofra: coming up is battle the charts. netflix versus the broader markets.

. >> one of the first cases hodge could face a deadly shooting in frankfurt.were shot by a neighbor last sunday. the neighbor says they were all arguing and dempsy and depaul started climbing his fence. the man said he felt threatened and grabbed his gun and thougsh them both. >> my mom would never provoke any violence. she knows she would have to make it home to me and my brother. i don't understand why he is still here in hisuths house let alone not in jail. it's not self defense. it is strictly murder. >> over the weekend neighbors passed around a petition to try to get the d.a.'s office to prosecute the case. they say they are investigating it right now. >>> here is a look at other stories we are following county by county. in mercer county time for a home improvement project at one of trenton's oldest buildings. the city broke ground on renovations to the douglas house built in 1760. george washington and his war council made decisions at the home during the american revolution. >>> new street lights are coming. the city is upgrading 4,600 lamps with new

we have banks in paris and frankfurt. we will work to buffer that up some what. contingency plan. london will remaina of a contingency plan. london will remain a significant financial centre whatever the outcome of the discussions. we will maintain a significant presence in london. but as the rule requires us to have more on the continent, then we will have more on the continent. the financial conduct authority, to whom you submitted your plans, they said they thought banks would need to know what was going to happen this year, 01’ what was going to happen this year, or get some certainty, some clarity from the government this before they start having to hit the contingency buttons. is that right? the only way to describe the contingency plan is that we are buying in torrance. i spend money every day to make sure that come march 2019i am open for business. 0bviously, that come march 2019i am open for business. obviously, as each month goes by i spend more money. the certainty becomes less useful for me as we go further down the path. if i knew today, if i knew to

an update on the market numbers for you — here's how london's and frankfurt ended the day. states this is how the dow and the nasdaq are getting on. now it's time for meet the author. my guest today is one of the world's most popular crime writers, the rather aptly named karin slaughter. after finding fame with her first novel blindsighted, she's gone on to sell more than 35 million copies of her books, including the will trent and grant county series. her latest book is called the good daughter. it focuses on two sisters whose family is torn apart after a terrifying attack on their home, which leaves their mother dead and both of them damaged in very different ways. years later, the horrors of the past return. karin slaughter, the good daughter links to deadly events, this terrifying attack on the family, and then 28 years later, a shooting in a school, as seen through the eyes of two sisters, sam and charlie. why was this the story you wanted to tell? about two years ago, i was writing notes about different characters, because that is what i do. it always starts with char

and those japanese banks, a number of them have said they will be moving certain people to frankfurt,ontingency plans in place and one of the chief executives of robin sachs said it will make a definite assurance on what will happen, they have to put their insurance plans in place and every day they are spending money on it. these are big differences that need to plan 3—5 years in the depths ofa need to plan 3—5 years in the depths of a two—year timeframe isn't very helpful. so you need certainty and thatis helpful. so you need certainty and that is what has to come out of downing street and all of the ministers and one of the issues is not enough negotiators. britain doesn't have enough skilled people to actually do all these, do all the talking, do the deals. there is no way we will see a brexit deal that fixes everything we have at the moment in two years. are you going on holiday? not today, luckily! tell us on holiday? not today, luckily! tell us about this, uk air traffic controllers warning of overcrowded skies. this is the people who make sure the planes stay up in the sky, na

parisf positive it around -- lots of positivity around paris and frankfurt. cyber security company has a political into dispute. there is concern their products could be used by the kremlin. the company says it would never out cyberompany carry espionage. spotify has reached a new deal with sony. the deal was seen as critical before launching a public offering of shares. spotify'sd to trim royalty payments. british chain has been boosted by the sunny weather. sales of over 5%. he says the u.k. will do with her without a trade deal. a u.s. online retailer is trying to win business by using the magic number three. therand less hopes to rival supermarkets. delivery is nine dollars. the yearly membership is three dollars a month. a comparison found many of the 115 initial products they are offering are more expensive than those available at rival target. i am not sure it is going to work for peanut butter. >> you need to check out the competitors first to see what prices they are offering competitors things that. time to bring you our press review. a browse throu

an update on the market numbers for you — here's how london's and frankfurt ended the day. in the the united states this is how the dow and the nasdaq are getting on. just taking you back briefly to hamburg. this is theresa may's plane that has arrived on the runway there at hamburg airport. the royal air force plane, it has been for a few minutes. no sign of the prime minister yet but pretty surely she will be coming down the steps there and joining the otherworldly users who have already arrived.... already there, he has been meeting angela merkel. the prime minister taking her time to get off that plane but the red carpet waiting for her and elsewhere in hamburg this evening we have been seeing demonstrations. these are live pictures of riot police with their white helmets and early on were charging some of the protesters. many of these protesters anti—capitalist protesters. welcome to hell was the name of one of the demonstrations. the police broke up a demonstration we were hearing early on because some of the protesters were wearing black bala clavas protesters were w

frankfurter allgemeine focuses on porsche who will recall 22 thousand of its cayenne model over ‘irregularit had fitted some of its cars with a device to cheat on emissions tests. the guardian financial pages report on falling profits at sky television. the broadcaster has suffered a drop in subscribers as customers switch to popular streaming services such as netflix and amazon. and finally the boss of amazon, jeff bezos, has been crowned if only

guess frankfurt is seen as a to oversee these big banks .is probably much more straightforward. headquartered and it is a german bank. a tragedy announcement has made this clear. reemphasize our german roots. making deutsche bank more german again. >> i won't lobby for frankfurt either. >> and all metal -- lot better restaurants and hotels. still with us to discuss market , have you thought about what this means for the functioning of financial markets. maybe not in waves, but a continuous movement the upcoming gears. -- it just creates uncertainty. think there will be some concern that you get more volatility than you otherwise would. they want to get as much clarity as they can. others will look at the contingency plan and say what functions exist. paris, ike dublin in think there will be people there as well. >> a lot of people are after the city of london. for many fuel, it is a political vendetta and the argument against trying to break up the city is on the consonant -- is that the kind of thing you pay much attention to? too far apart

another american banks have said, we will go to paris or frankfurt, even better luck to them.encourage the other side to hold back. there is no holding back the man of the moment, though, the new president emmanuel macron has an approach resonating with businesses both big and small, like the ones in this technology campus. we have a lot of start—ups telling us things like brexit or donald trump are factors into why they are looking at coming and working here, and obviously there is a huge macron effect as well with the president, i think for once we have a pro—business image. think for once we have a pro-business image. the french government is hoping that will make banks consider paris less a tourist attraction and more like a permanent home. that is it from world business report. you can get in touch with me and the team on twitter. face—to—face bullying is considerably more common than cyberbullying among english teenagers. that's according to a new academic study of more than 110,000 15—year—olds. researchers from the university of oxford say nearly a third surveyed were

ones and friends held a vigil at the spot where august dempsey and her boyfriend were killed in frankfurt last weekend. a sign on the porch of their home reads warning, the murder of bob and aug is still free. a relative made this emotional plea to authorities. >> this is a communal walkway for that neighbor and that neighbor. he was not on this side's property. he killed them, he murdered them, period. and my nephews need justice. >> the family said they want the city's incoming interim district attorney to bring charges in this case. dempsey and depaul's neighbor shot the couple last sunday. nbc 10 is not using his name since he is not charged with a crime. the neighbor said all three were arguing when the mom and her boyfriend starting climbing his fence. he said he felt threatened, grabbed his gun, shot the couple, and then called police. now, the family of august dempsey, they say they are looking for more information about just what happened. they are planning to submit petitions asking for charges in this case to the district attorney's office tomorrow. live at police headquarters,

. >> this morning we heard barclays is choosing dublin over frankfurt. some of the big banks choose to be choosing brank furthfrankfur, but not luxemburg. do you have an issue with that >> on the banking side it is true that you have heard quite a lot of announcements, but on the other side maybe you have also period jpmorgan for instance say that they will dispatch some of their activities to frankfurt, others to dublin, others to luxemburg. and i'm relatively confident and satisfied with how we're doing in this. maybe that is why you don't hear so much from us. but on asset management sirde, e have big and important names you mentioned the insurers there are many more in the as is the management field that because they already have presences in luxemburg, they are simply beefing up these presences and consolidating their operations in luxemburg. they don't need to make major announcements. >> all right nicholas markell, thank you to making the case. what is the best culinary delight in luxemburg >> cuisine has been defined as french cuisine with german