former president of germany bank, he will be here with me.d i'll see you on sunday morning on the fox news channel this weekend. sunday morning futures. join us for a special program as we sort out the tax plan. that is coming up at 10:00 a.m. eastern over at fox news. that will do it for us right here on wall street week. thanks for >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real-estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe. at the end of the show,

banks, the more chinese related ones. and of course you know what is happening in germany. german banks down.loomberg. ♪ guy: one minute to go until the start of cash trading. goingropean markets are to go down .2% on average. there are exceptions. you can see one of those, down .7%, and that is the dax in germany. a little weaker than most markets around europe this morning. i wonder why. matt? matt: i want to focus on the euro for a moment. let's focus on the euro all day long. those coalition talks collapse, the euro comes down. this is a look at the last five trading sessions. the asiaate night in sessions when the talks failed, surrounded by that red oval there. we have seen a bounceback already. how long does the euro state low? even if we go for a new election doesn't come until april, can the currency come back? going --new we were that's a we are getting out of the gate of london. 73, 75. of all the markets on that court, the one that seems to open last is the dax. we will talk about that in a moment. manus cranny, good morning. manus: good day to you. i don't think it's the collapse

banking index saw stocks rise. check out what's happening with germany's commerce bank hosting a net profit as the focused overhauler earnings, reporting an increase in net profits and it saw higher profits and sales from a year ago. the ceo also telling cnbc it's set to conclude preparations to sell its health care business by the end of march of next year. and luxury brand burr berry getting hit hard after the company outlined costs of store refurbishments, it spooked investors, so a lot of red overall. back to you. >> thank you very much for that. >>> let's go across the room and get a news update this morning with contessa brewer >> here's what's happening right now. at nato talks in brussels, jim mattis says his colleagues will discussed the threat from north korea and russia's attempts to interfere in the democratic process. >> recognize that european capitals are closer, in fact, to pyongyang than washington, d.c., and europe is keenly aware from our discussions it was obvious that europe is keenly aware of this threat, and we are all aligned in terms of characterizing the threat and in solving this soberin

the shadows to banking the stuff on for condo hits a pretty the banking all sorts he isn't coming to frank. fronts just pick germany to the post. but still will get the majority of the british banks that are currently still in london is in frankfurt is and forever will be europe's number one banking location finance plus the mines are all part. u.k. banks and london based e.u. institutions the twenty seven remaining member states are already carving up the spoils of britain's departure from the european union. compass is like this are often used for school design and technical applications the biggest components the poems are made from metal that contains lead to some countries thoughts a problem overnight south korea reclassified a compass from drawing a quick mint to a child's toy which isn't allowed to contain lead that's just one of the many measures countries have used to restrict imports. a company like step which exports eighty percent of its product is directly affected by tactics like these. you're going up one of two not really can't really tell if these are protectionist measures or if there are regulati

isn't turning a profit yet, but it's won over major supporters, including the asian development bank and germany'siz development agency. the boss sebastian groh is german, and a former investment banker. sebastian: we haven't always been here. we started out in stanford, california, then moved to berlin. but that wasn't the right fit. this is where we had our breakthrough. when you make something and then see it being used right away, at the very same location, see what people are doing with it, and that it works -- it's twice as nice, because you can see what you've accomplished. marion: groh's company is now based in dhaka. he's learned how businesses operate in bangladesh, and learned enough bengali to get by, day to day. the problem is that people or companies that feed energy into bangladesh's national grid aren't paid for that surplus power. with national elections due late next year, that's not likely to change. the government is also promoting the use of nuclear power. not much is happening on the traffic front, either. sebastian: everything's close together here, the distances aren't that

as well as the queen of england and big german companies like zealand and germans germany's main postal company possed bank papers also reveal extensive offshore activities of u.s. president donald trump's cabinets donors and advisors particular attention being paid to u.s. commerce secretary ross. well let's get more now on these paradigms papers political correspondent i know koehler is here with me in the studio here what can you tell us about these papers they've just come out and i haven't had a lot of time to dig into it but what do we know right off the top i didn't have a lot of time digging into it since it's about thirteen million documents so there was a whole bunch of journalists worldwide working on these papers. including data out of databases fax copies are all sort of stuff basically it's about avoiding taxes and not even illegally avoiding taxes but sometimes this legal avoidance can be still dodgy because. states don't have enough money they don't have enough taxes coming in and big big companies voiding to pay taxes that trumps commerce secretary bubble ross being singled out here by nam

germany remains a risk in the coming months. here, head ofs client investment strategy at j.p. morgan private bank. t is fascinating, isn't it, the stable economy maybe not so stable within the eurozone. what happens next? david: i give you a list of a few risks and you make it sound like i am super pessimistic. that seems to be the most likely course of action. i think most people are hoping that cooler heads will prevail. , they areof investors waiting for the next election to be called before this gets real. what are the effects on investors? we do not see a huge amount in the short-term. the german economy powering on, gdp figures released in recent data. the economic news keeps getting better for europe, and a bigger focus for investors is how is the ecb going to manage the messaging of its exit next year, or is there a risk of another bund shock in yields? certainly one of the most challenging messaging. mark: we have the news today, of makee the ecb is likely to multiple small adjustments to its guidance on monetary policy next year, rather than any major change in its language. it is using f

to banking all of this new stuff on for congo here's a pretty the banking all forty isn't coming to frankfurt fronts just picked germany to the post. but still will get the majority of the british banks that are currently still in london is in frankfurt is and forever will be europe's number one banking location finance plus the mines are all part. u.k. banks and london based e.u. institutions the twenty seven remaining member states are already carving up the spoils of britain's departure from the european union. compass is like this are often used for school design and technical applications the biggest components the poems are made from metal that contains lead for some countries thoughts a problem overnight south korea reclassified a compass from drawing a quick mint to a child's toy which isn't allowed to contain lead that's just one of the many measures countries have used to restrict imports. a company like stuff which exports eighty percent of its product is directly affected by tactics like these. they're going up to not really need we can't really tell if these are protectionist measures or if there are regul

banks. with germany still without a government on setting up but temporary fix just to keep parliament ticking over a week look at how the french president might seize the chance to become they do music and. also ahead this hour the high security facility which holds fear in the hearts of even russia's most hardened criminals we gain unique access to see what life is like inside the nation's toughest prison. he's. some of the country's worst maniacs serial killers terrorists and he wouldn't cannibal i held. on to saudi officials are seen visiting a synagogue in part as in what's being seen as another sign that saudi arabia and israel.

dodge a bank is essential to germany we have to save it that could cost the taxpayer money that means europe would have less money in a really bitter situation that could mean that the german and the european taxpayer would in directly pay the fine to the americans. good afternoon can you take me to dutch about that sixty votes to push. things became hectic in winter twenty sixteen khalfan war was to negotiate the fourteen billion dollars down to an acceptable level the clock was ticking the matter was supposed to be off the table by the end of the year. as it's you're sitting in a room in the department of justice in brooklyn in a normal meeting room on its own song and both sides present the matter from their point of view of the dinner went to not opinions differ and so you make offers and counteroffers over the course of days and weeks argument hours on the board ongoing on the board all those. negotiations cost money and trust the longer they take the more of buffer lost. to the fall and of course we knew we'd have clients who would react to that with extreme irritation and we've

it's not like the money is stashed in the caribbean account it's actually in the banks in britain america and in germany and other you know western well i think the leaks really do go to the heart of the one product that this offshore world does provide and that is secrecy and if you no longer have secrecy then you no longer have a product to sell and i think that's probably the biggest blow that you can take to this is the system basically is i think it will take more leaks like this it will take whistleblowers coming forward you know luckily we're in an era where people can leak information on a scale never thought possible before and i think that unless the governments are prepared to fix this then people will continue to take matters into their own hands by giving this kind of material to journalists and of course there is plenty more still to come from the paradise papers thank you very much for that. and here's one reason you might want to dodge a bit of tax twenty years or spend a hell of a saying the funny side having a bit left over money to buy a flashy car and just wait for it. happens dodge

it's not like the money is stashed in the caribbean account it's actually in the banks in britain america and in germany and other western countries that's where the money stays it's just that on paper it moves to know if your company for tax reasons so basically you make sure that your profits end up in a place where they're not being taxed so to summarize this all why do we need leaks like this we've known the rich and famous hide their money forever yet it seems that it's still never really a big election issue in most countries and after all that's what's needed to make a big change. well i think the leaks really do go to the heart of the one product that this offshore world does provide and that is secrecy and if you no longer have secrecy then you no longer have a product to sell and i think that's probably the biggest blow that you can take to this is the system basically i think it will take more leaks like this it will take whistleblowers coming forward you know luckily we're in an era where people can leak information on a scale never thought possible before and i think that unless the governm

always here in germany just as former georgia bank c.e.o. boyer and he was always able to get kind of a soft word it for them just now in the case oftentimes lack of with the end would have to go well won't have to go to jail only you will be on probation and when i have to pay fifty four thousand euros which is of course nothing regarding the millions that were spent tell me what about the twenty five thousand who lost their jobs how are they taking it i mean really have to remember thousands of people or lost their jobs and they are seeing all of this today with very mixed feeling i heard one woman saying that she even finds it very unfair that he doesn't have to go into prison and that at the end he pretty much second fired his kids who are now the ones that have to go into a prison and not him that you hope for us on that very interesting story thank you very much now word of warning view is be dreaming of becoming a royal princess might find extra stress. thank you yes prince harry at his american girlfriend american markel have confirm

want to remind everyone right now that we're monitoring the european central bank conference taking place in frankfurt, germanyther bankers including the bank of japan governor, european central bank are attending if there's any major news will bring that to you right away. gerri: coming outcome of the final leg of her earnings season. that's next on the home depot often affects either the economy getting stronger or weaker. we will take a look good and make her a barbie announces new doll modeled after jobs. you are watching transcendent. ♪ "fbn:am" you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. fidelity. ...from godaddy! in fact, 68% of people who have built their... ...website using gocentral, did it in under an hour, and you can too. build a better website - in under an hour. with gocentral from godaddy. the uncertainties of hep c. wondering, what if? i let go of all those feelings. because i am cured with harvoni. harvoni is a revolutionary treatment for the most common type of chronic hepatitis c. it's been prescribed to more th

banking all thora t. isn't coming to frankfurt fronts just pick germany. it's the post. that still will get the majority of the british banks that are currently still in london is in frankfurt is and forever will be europe's number one banking location finance plus the market will part. u.k. banks and london based e.u. institutions the twenty seven remaining member states are already carving up the spoils of britain's departure from the european union. compass is like this so often used for school design and technical applications the biggest components the oems are made from metal that contains lead for some countries thoughts a problem overnight south korea reclassified a compass from drawing a quick mint to a child's toy which isn't allowed to contain lead that's just one of the many measures countries have used to restrict imports. a company like step which exports eighty percent of its product is directly affected by tactics like these. you're going up one of two not really nice we can't really tell if these are protectionist measures or if there are regulations like

he's trying to turn the business around, germany's second-largest banking operator.arts of the business are up for sale and they've artie said out 73 hundred jobs by 2020. perennial takeover discussion on this bank. net income comes in at 472, slightly below the estimates. they see the space below 7.1 billion, expecting a positive full-year net result. the buffer of capital is 12.5%. of course it's a question of what they will focus on. it's making those profitable, this still is the turnaround stock darling of the banking industry, second-best performing stock in the banking industry this year. we'll talk to stephen engle a little later in the day. we will find out just what is going on there. we have a little bit of deutsche telekom to get through as well. i'll pick up with the german drug sector. a raising of the estimate for door to telecom, he had to walk away from the sprint dealer, the market rackets brains over what that might mean. full-year ebitda gold to $22.5 billion. they have raised the guidance for 2017, predicated on u.s. growth. sales areelekom says

it's a pity that the banking authority isn't coming to frank first of course people can see that germany is not on top right now as the french are just ahead but still will get the majority of the british banks that are currently still in london frankfurt is and forever will be europe's number one banking locations not just. another city in celebration mode is amsterdam it won the right to host the european medicines authority. the e.u. and they currently employ some nine hundred people but estimates suggest that twenty percent of positions could be cost as a result of the move from london. u.k. banks and london based e.u. institutions. the twenty seven remaining member states are ready carving up the spoils of britain's departure from the european union. there's a lot of thought poured into the practicality of a product before it can be made the process is called design thinking the platinum institute of design thinking is now bringing its role the european approach to the discipline in south africa. it might look like something you'd find in a preschool but these toy boxes are actually

banks of pulling forward. and no two factory farms that's the demand for germany's. greens if they join a coalition government they want to give livestock more space and freedom to roam. i've been physical and let's do business equities a locked in a long drawn out bull market the only way is up right now and there's no end in sight that gets analysts anxious of course that a correction or crash could be around the corner but the financial indicators are overwhelmingly positive with robust corporate earnings and booming global trade indices a soaring to record highs in tokyo london new york and frankfurt. german broadcasters are spellbound and this course is the reason why it just keeps going up and up the dax broke through the twelve thousand mark back in march and galloped past thirteen thousand points two weeks ago the atmosphere down on the trading floor is calm the recipe for success is suddenly simple buy stocks lean back and watch them rise and the expectation seems to be that things won't change anytime soon when makes the shyness or things already seem to be

banks have to be able to operate outside of that city. and there will be no deviations from that. a letterboxn open in germanybut you don't get a license for that. license, that's want,hese applying banks they have to apply. -- andreasistol but dombret. more insider what's next in the a formerocess is economic adviser to the president of the european commission. thanks for joining us. i enjoyed reading your notes, the u.k. has very little say over the details of the brexit outcome. , if youuite depressing are viewing it from a pro brexit standpoint. if you are here in britain, all you hear is lots of noise about what this person want for that person wants and what that person's redline is. and it doesn't really matter. written has a choice between pretty much expecting what the eu is offering or crashing out without a deal. that really a slowly starting to sink in. mark: what is the endgame? where are we in march 2019 and thereafter? >> we have to get to the next european council meeting, where one hopes a decision will be taken about moving from phase one of negotiations and focused on citizens rights and ho

thank you and now that the musical front they are germany's number one head exploits. the bank twenty years ago nobody could have imagined there'd be d.j. festivals on this scale or so many of them get. their shows are attended by tens of thousands of fans all over the world. in the last three years they've travelled from australia via india all over south america the us several times and all of europe and also south africa and indonesia. and they are just the tip of the phenomenon. there used to be one hundred new records a week today there are probably ten thousand tracks a week. give. the bank for the concert today you can download some software and start putting down beats and if you're good to. the stuff like that. to it the german d.j.'s are in big demand at home and abroad. and we now have an established house and club scene in germany and that's also somehow part of our culture. but for the german scene is out there. i started deejaying at birthday parties in my teens i was at first i just plugged my cellphone into the sound system. i thought now i want to decide what m

what is the biggest bank in germany telling you that the market refuses to see?'m not sure what that is. that's worth watching as well. >> as well, in some of the markets that have hit record highs in europe, they have been based on euro weakness which doesn't feed into the banks, because euro weakness comes from low yields >> 100%. you see some of the data out of europe how much longer are they going to be able to keep yields down you mentioned the dollar and currencies i would submit that all these central bankers, whether they realize it or not are trying to sort of -- i'll use the teterm -- torch their currency why? as you know, the weaker your currency is, the more attractive your goods are in a global race to zero, wilf you're a smart, tall, attractive man, who is the winner there are none >> on the point of the ecb, the other interesting thing to watch there is credit. credit spreads are tight, on days when you see equity selloff, you don't see european credit flinch. mr. adami, we'll leave it there. >> one day i'll come in, i'll be your co-pilot. >> i loo

tenths of a percent higher than the previous forecast and the bundesbank our national reserve bank here in germany writes in this monthly report that the economic upswing here in germany continues through the current fourth quarter and one for a reason for this is stronger factories factory orders in the german manufacturing sector are going to have risen in front that good to see. the london is set to news to the european union's most important agencies following britain's decision to leave the bloc the european medicines agency and the european banking agency will now move to other destinations but it's up to the a use remaining twenty seven members so vote on who exactly lands of bragg's it windfall. that some of europe's most glamorous that the nation but this isn't about choosing your next holiday these are just some of the cities battling it out for two highly prestigious prizes. now they may not look like much but these two institutions help keep europe running the responsible for the money and health of its citizens the m.a. and a.b.a. are currently based in london said they're going to ne

it's a pity that the banking authority isn't coming to frank for us of course people can see that germany is not on top right now as the french are just ahead but still will get the majority of the british banks that are currently still in london frankfurt is and forever will be europe's number one banking location and float on to just want for the most are in their finance plus the mines are all part. and the other city in celebration mode is amsterdam it won the right to host the european medicines authority. the and they currently employ some nine hundred people but estimates suggest that twenty percent of positions could because as a result of the move from london. u.k. banks and london based e.u. institutions. the twenty seven remaining member states are ready carving up the spoils of britain's departure from the european union. unemployment continues to be a major problem around the world especially for people between the ages of fifteen and twenty four the latest report by the international labor organization estimates that more than seventy million young people are jobless this ye

have an irrational love for you know we don't benefit from giving germany the key to the truck and then hitching ourselves to the bank with france needs to stop that much of. it went out. on the other hand feels it's important for germany to overcome its government crisis as soon as possible. she wonders if it's time for germany to begin a new political movement like mccall's a marsh offering an alternative to the traditional parties it's good. german should take part of the c.d.u. part of the s.p.d. and part of the f.t.p. and found a new movement i don't think the established system of parties is working for germany anymore. what with her now uncertainty in germany many french analysts believe a man on the court will struggle to push through his european reforms. we already had something of a blockade before that's nothing new for. this new situation of uncertainty and the political crisis in germany will make it even harder to reform the eurozone and the e.u. . that is on the order nor. hear it keat themed bar in paris where shantel labour's french german group meets regularly some believe the crisis could also be

important banks in the european union in the european area in the euro area and we have aopa which is the supervising off already for the insurance companies and the pension funds for people outside germany of course it might have looked as too much of a concentration of power here in frankfurt if frankfurt had gotten the. banking or thora t. so a lot of oversight located in frankfurt already now what about paris is the french capital a good second best choice can people in frankfurt live with this compromise you know from a frankfurt point of view paris is a much better choice than dublin which was also in the race to go to dublin you have to take a plane but to paris you can go from frankfurt on a high speed train in less than four hours the french capital paris is actually much closer to frankfurt then burlington and you know who knows maybe here in frankfurt we will get soon a little bit more of parisian early garth's because the parisian supervisors will have to come to frankfurt and work closely with the real superpower in the european financial sector and that's the european central bank conrad bowser in frankfurt thank you so much. to kenya now where violence has broken out after

bank is one of globalization's winners they produce fans in germany china india and the us everywhere demand is climbing employees worldwide profit from it is a trend that has been confirmed in a study by the organization for economic cooperation and development or o.e.c.d. it states that people in industrial as well as developing countries profit from globalization and the outlook is good the o.e.c.d. estimates the global economy will grow old bike three point seven percent in the coming year that would be point one percent more than in twenty seventeen according to the o.e.c.d. the u.s. as the world's largest economy will grow considerably in twenty eighteen but the euro zone's growth will be slowing down at only two point one percent growth that's mostly due to bragg's it and the unsolved debt crisis in southern europe for the first time a decade the world is growing in sync. this is none of the large economies are experiencing a recession despite the positive outlook there are some risks an a-list say investments are too low around the world to maintain long term growth and the pr

minute home depot will report >>> meeting of the minds the heads of the big four central banks gathering in germanyow. steve liesman, another one of the big guys in that group will be there he will have the details we'll bring you highlights >>> and going wild shares of buffalo wild wings soaring on deal news we'll have the full details ahead. it's tuesday, november 14, 2017, "squawk box" begins right now. ♪ >>> live from new york where business never sleeps, this is "squawk box. >> good morning, everybody welcome to "squawk box" on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. if you check out the u.s. equity futures, at this point things are relatively flat. dow futures indicated up by less than a point the nasdaq down by 4 this comes after a day when the dow and s&p 500 managed to eke out gains despite the pressure we saw from ge with the worst day, down about 7% those two indices managed to finish with slight gains the nasdaq was down by 6.66 that devilish number. we will see where things get as we get closer to the

it's not like the money is stashed in the caribbean account it's actually in the banks in britain america and in germany and other western countries that's where the money stays it's just that on paper it moves to know if your company for tax reasons so basically you make sure that your profits end up in a place where they're not being taxed so to summarize this all why do we need leaks like this we've known the rich and famous hide their money forever yet it seems that it's still never really a big election issue in most countries and after all that's what's needed to make a big change. well i think the leaks really do go to the heart of the one product that this offshore world does provide and that is secrecy and if you no longer have secrecy then you no longer have a product to sell and i think that's probably the biggest blow that you can take to this is the system basically is i think it will take more leaks like this it will take whistleblowers coming forward you know luckily we're in an era where people can leak information on a scale never thought possible before and i think that unless the gove

tom: you mentioned commerce bank, problem child for maybe the common -- for maybe the continent in germanyzbank debate? arjun: i don't begin the short term they do. commerzbank is in the midst of restructuring, accelerating the wind down of their non-core unit at the moment. they are in the midst of trying to grow the retail client side of things aggressively. they been able -- they are on track to meet targets read the real issue is translating that into revenue and that has been something they have been lacking so far. .om: very good greatly appreciate it on the european banks. kathy fisher continues with us. we will do this wonderful section on the leonardo da vinci painting and also on the general art world. blacks emerson, thomas doing great work on this. emerson, they need to buy rockwell automation, they boost $225 according to dow jones. stay with us. leonardo da vinci, next. this is bloomberg. ♪ nejra: you're watching "bloomberg surveillance." coming up shortly, bloomberg daybreak america's. what have you got for us today? i'm guessing you will be talking about the rebound in equi