as part of the reorganization, garth ritchie will become a deputy ceo.rship three top appointments. $8.7 billion to expand the gene their feet. 80% represents a premium of and the transaction has been unanimously approved by the boards of both companies. that is your is this flash. >> thank you. ands talk about trade globalization. talked aboutmp has china as a great economic power unfair andsituation said that the u.s. was badly represented. should the terror threats the scene as a way of fixing this imbalance? joining us to discuss this is richard, who is the author of the great convergence and this is a book about the impact of globalization. thank you for joining us on the program. aboutare a lot of talk whether we are approaching the trade or or whether we are in it. sidesstop at both implementing tariffs? we have tariffs? come in ade conflicts couple of types. these are conducted by clear rules and stay within the confines. the noises we have heard in the last month sounds more like national interests and pride and this can lead to the trade war sp

is whate, the question is the power of garth ritchie? the actions of the new ceo?y kicked it off this morning with mr. sewing saying he wants to take a new look at the corporate investment bank and richie putting out a note -- putting out a note that there would be no other changes in the near term. would you like to see this pulled closer different for and away from london? >> the investment bank has to be refocused in the u.s. it is the most important and profitable market in the world. my understanding is that it is difficult to leave the u.s. totally. you have to focus on certain markets and profitable nic hes. see growth yet. matt: what do you need to see to start building your position? you still have a fairly significant position in deutsche bank, 0.5% stake. what would you need to see to grow it back to what you used to hold, more than 1%? >> we have to see market share gains in the investment banking and we have to see cryan's strategy that strives for growth in the future. we do not see any of that currently. matt: thank you so much for joining us today.

garth ritchie is promoted to head of securities unit and what we come code at pdc oh.k -- co-deputy ceo. novartis has agreed to acquire avexis to expand its position in to explorey treatment for a rare disease that affects infants. it represents a premium of 88%. she closing price of avexi shares on friday. the transaction has been unanimously approved by both companies' boards. plunging moscow trading. potential that the fault and adverse prices. aluminum has dropped. investors bet on supply disruptions. the trade dress between china and the u.s. are potentially damaging for the global economy. speaking exclusively to prays thetv, he authoritarian leadership of xi jinping and says it is wonderful for u.k. business. imstone: china has become a beacon, and the fact that xi is able to give such guidanceuthoritarian within the market economy is great for companies such as mine. nejra: moving headquarters to hong kong to pursue the controversial restructuring of more than $3 billion of debt. the group says the move could take effect over the weekend. noble has seen its val