nicole has the latest on goldman sachs.cole: goldman sachs really focuses on big companies and large investors. the bank reportedly plans to offer loans online to consumers and small businesses starting next year. the marketplace nearly $850 billion. hide network clients comes as regulation cut into their profit offender unit such as trading. return on equity has been trans. to return equity could be 20%. they hire somebody to really spearhead this but they have to develop it. they are going to try and get the regular folks. the fed will be in focus tomorrow. is there any language that indicates the rate hike? lauren: the fed meets today and tomorrow and in the meantime they come out at 830 eastern this morning. a very volatile number. the expectation to fall from april high numbers to 1.1 million they said no future construction expected to fall at the same. like i said strong april we are coming off of yesterday. homebuilder confidence of a nine-month high. standard pacific and violent group, to all marchers rising. this

charles: assuming that goldman sachs cannot convince these guys. >> i had never seen a goldman sachslet yet. >> one of the consequences of all of that regulation is the booming business of non-bank blending. >> but the banks do want to get back in this. and the amount -- you know, it's getting done come in the amount of scrutiny. >> it is investors lending to real people. >> i think that they want to get back into this. charles: let me ask are working millennial. and they don't have faith, before people invested this. the millennialist need tangible evidence and we need to see it and touch it and identify with it and bond with it. we are not going to sit there face to face, because we saw what happened to her parents portfolios. so as long as goldman sachs finds a way to build a relationship and relate to these young people, this might be a winning strategy. charles: 49% say they would trust a digital platform. >> to match point, the advisors haven't been challenged. and so they have had it it pretty good. but the big test is how do they help people wanted to tough. >> this is an int

goldman sachs sees the euro heading for parity with the dollar. we have been expecting to see the strongest second-quarter since the first quarter -- the strongest quarter since the first quarter of 2011. let's bring you up to speed with what is happening on the greek story. the prime minister has been given until the end of tomorrow to find solidity. yesterday, we saw hope and optimism infiltrating and around the european stock markets. you can see the european stoxx 600 up and having the biggest gain since may a. -- may 8. the athens stock exchange was up and the banking sector is getting a good mix of that. we have some of the athens banking stocks up. the stock markets picked up and ran with it in a positive direction. the markets edging a little bit higher and the s&p was close to a record in yesterday's session. we will talk all of this with john at 10:30. he warned of volatility and trading in 2015. three minutes past and let's talk about the asian market and the things to factor in. there is plenty in the asian agenda. the asian stocks ros

goldman sachs jumping on that bandwagon.seem i too little, too late, goldman sachs? can they get in the space in a big way? julian: ever since the crisis ended there are new avenues for making loans and moving the economy forward. erik: i do want to point out, giving full credit to our colleague michael moore at bloomberg, he flag was moved by goldman in the first week of may. and now, there's absolutely nothing wrong with other people joining the party. but we were on it. stephanie: there we go. erik: i do think it is a fascinating move by goldman sachs. wall street has been if not emasculated defend the strata. it is not the same industry at once was. the are still smart people i goldman sachs. it says something about this industry that goldman has decided to go into online lending and match if you will a business for which a trial has been blazed by the shadow banking marketplace. stephanie: it also says something about goldman compared to other financial institutions that we have seen them in the past be the most nimble

alix: you brought up the ust's global equity strategist for goldman sachs. he seemed to imply we had high valuations but you will want to buy stocks anyway and part of that story is about buybacks. they say they will search 18% this year, exceeding $600 billion. 30% of the cash meaning who cares? has been a big theme throughout the recovery. if you go back 10 years ago, if an individual company bought back their stock to grow earnings that way, then what happens is investors but a lower multiple on that environment. we had yet to see that materialize here with the market. on a single stock basis, we call these low-quality earnings growth and you build a multiple on it and the market has not done it and i don't know when they will but that is a risk to playing that strategy. are there any areas of equity markets around the world you think are interesting? michael: the points brought up that there are small pockets of value but honestly, there is nothing i would set year and say that is what you have to buy. the u.s. treasury bond versus european sovereigns. i

jans hansen from goldman sachs.nd the former nato secretary-general and former danish prime minister i'll be talking to him. and the charles monthser the former president and ceo. >> a great lineup still to come. we'll show you awe live shot from the meeting in bavaria where angela merkel is meeting people. i'll tell you one pass that's right came out of the meeting this morning and that is the white house has denied the bond was a problem. we've seen the dollar versus the yen, a little before today. the dollar yen is at 1.25 at 5 at the moment. >>> the greek prime minister could be about to lose a crucial ally in europe. find out why one top official is warning their offensive could be over after this break. "worldwide exchange" will be back in two minutes. ♪ we will rock you anthem ♪ ♪ ♪ ♪ ♪ call 1-800-royal caribbean or your travel agent today >>> let's have a quick market update. seems to be a little impatient today. 30 seconds we're looking at equities down 0.3%. most of that in the continental. a quick look at

factoring in here, the greek story, add to that some interesting comments from goldman sachs.o our twitter question, goldman sachs president says the markets are less ready for a fed list often people think. lena has stayed with us longer than we are sanctioned to give us thoughts on the fed. what do you think of these comments? do you think investors will be taken by surprise when we see a liftoff from the fed? lena: absolutely. we have had so far, i think this will be the most important thing in the second half of the year the markets have been busted by the risks of greece, reduce bond markets, and currency wars. what we are going to get any second half of the year is the markets moving to a pricing a stark shift in the waiting fed mount -- manages the balance sheet since 2008 2009, edges moving back. even before the first rate hike is delivered, the fed will have to tighten overnight liquidity in order to be able to lift these currencies towards the upper end. that means a huge liquidity drain, permanent liquidity train. -- drain. central banks come into the markets in ord

i don't think any of that is over. >> last thing i got to tell you, goldman sachs, one of the things in the notes, he refers to 1 1/2 times books, citi trades $10 under book. you got to see it on both sides. >> he says goldman sachs shares are up 30% since july 1st of last year. nice run. it shows a little bit of the outperformance. >> repeat after me. it's not where they've come from, it's where they're going to. >> a quick small trade, vertu financial. think you buy that stock and you buy that stock on the premise that volumes are low right now and it's a great hedge if volatility increases itself and the market rolls over. >>> it's one of the best trades ever -- now carl icahn is out of netflix. stick around, we have the exclusive interview with the billionaire investor. we'll talk about why he sold, what that move says about his overall feeling about the markets. >>> plus we're also going to hear from the biggest netflix bull on the street -- what does he think about carl's move? >>> but what if you could see more of what you wanted to know? with fidelity's new active trader pro

first goldman sachs and leaving goldman sachs why was that the right time? >> i don't know if it was but i -- follow many years had thought there was always a time when you have to leave a place as competative as gold man. i had seen a number of people leave -- stayed too long. >> yes. stayed too long and didn't know how to cope with life that easily when they left so i kind of always told myself i would rather -- i would certainly rather leaf before the best time than after the best time and you don't know when that is but i thought i'm going to take the risk when it feels to me there's things that i'm wanting to explore and swear i'm not comfortable with pursuing the same path and i always had this thought in my mind partly because i had a number of years in my career before i joined goldman, i always thought i want to do something else other than being goldman sachs. i didn't flow in gas it right time. it felt it was as good as it was. i love the place dearly and i have fond memories. i i saw a couple of foolel people from there over the weekend at a part

goldman sachs to qualify you have to be worth $10 million. the business of lending a $20,000? it is 1% -- erik: institutional investors capital looking for a home loves this. matt: there's way more demand than supply. erik: loans are being generated. matt: once acceptance happens, ranks hedge funds, family offices are all buying up this product. olivia: it is an impressive trajectory of growth. organ stanley says this kind of marketplace lending is still 1% of lending. matt: it is still very small. the market for consumer credit is enormous. it is growing exponentially. it is 1% this year, 2% next year. erik: that is potentially the issue, the fact it is growing so quickly. and right now outside the regulated banking industry. is it not possible that regulators will fall in love with the idea that a bank i'm nationally chartered bank, is actually getting into this business? there will be full transparency into what they are doing. matt: lending club and prosper file with the sec every day. they have done it every day. -- in a clear way. it is

talking about the folks at citigroup and goldman sachs.oup, they say the rate increase will happen in september rather than december. william lee says the case for september interest rate normalization gets stronger but be prepared for rate volatility. the folks at goldman sachs say no, it will happen in december. they flip-flopped their perception. they say 70 fmc participants -- fomc participants are projecting rate hikes this year. -- seven fomc participants. they believe jenny ellen herself is projecting zero or one this year. what you're are looking at behind me is the fed funds futures. the probability they're pricing it. the probability of what we will see a rate increase. 46% chance priced into the market that there will be no change. a 54% chance that there will be a change. there are some folks who see we will -- say we will see a quarter-point hike. the folks who think it will be 25 basis points and then maybe it's going to 50 basis points. you see the distribution changes as it goes out as well. pretty interesting here that we'

goldman sachs asked an economist whether we have reason to worry about potential stock market -- a potential market bubble? some are confident that the bull market will run on. >> i agree that the ratio is higher than the historical average, but i think that a higher pe ratio is fully justified in a world of record low interest rates. even when the fed raises them, they will remain low on the historical standard. in my estimation and my colleagues at wharton, a lower discount rate means a higher average valuation for the stock market, so i certainly don't believe that this is overvalued at current levels. >> that is a key point, at what or where do you think the funds will peak once the federal reserve is at the apex of the tightening cycle? >> my belief is, and here, one of the rare times i agree with the bill gross, we haven't disagreed over the last 5-6 years, but he named the new neutral fed funds rate at 2%, and my own populations confirmed that. that the average fund rate over the next decade will remain at 2%. it does not mean that at the peak of tightening it will not be above 2%, it

by the way, they moved goldman sachs and citigroup there.y acknowledged the economy's improved but the huge rally in these stocks means there's less up side. that's their claim. and i think there's something to it. the bottom line is this. right now one analyst i talked to said you have to believe that the fed fund rate is going to be above 1.1% a year from now to get a lot of move up in these stocks. well, they're talking maybe 1 1/2% a year from now, 1.6%. maybe it will happen. the point is you've got to believe there's going to be a significant move up in rates to justify bank stocks right now. that's the concern. >> that is the concern. that's the question. thank you very much for laying it all out for us, bob pisani. so the question here for the desk, guys, is are bank stocks overvalued? dan, what do you i? >> i don't think they're overvalued. they're cheap and they're cheap for a reason. a lot of the reasons we had the run-up in these, jpmorgan has had this massive breakout. it's up 25% from the lows in january, and i think it was obvi

goldman sachs, goldman sachs is one of the biggest repeat investment banks in america.tly, the ceo of goldman sachs let his employees know that he'd be just fine with either bush or clinton. i'd bet he would. >> number one, and you know governor o'malley, do you believe him that he cares about this and thinks that clinton would be bad on wall street in a way that he would be better. and number two, what is the clinton response to that? >> i don't know what the clinton response to that. if i were hillary clinton i wouldn't have a response to that right now. >> why bother? >> well, i wouldn't say that. because i like martin o'malley a lot. i think he's a terrific governor and really good mayor. the problem that both bernie and martin o'malley have is that hillary clinton is running a really good campaign and talking about the same issues they are in terms of college educations that are debt-free, early childhood which she has a lock on, she's been working on that her entire career. this is going to be a contest of three people who are going to sound somewhat alike. bernie

goldman sachs, morgan stanley both at 52-week highs today.y amazing, these are lifetime highs. so, alan, you know, a lot of people at this point are going to say what about us? when do we get a piece of the action? the fed bailed them out, they had access to trillions of dollars, they're not lending. should the government be more involved? should they do things to force them to get back to their traditional roots? >> if you want a piece of the action first, charles, buy the bank stocks because i think they are going higher. whether or not the government should be more involved, this latest sarbanes-oxley lower it is the leverage of the banks since the precrisis levels, and that's where it needs to be. keep in mind, a small handful of these companies almost took us into another depression. >> i know they were able to raise their capital requirement and things like that, that's what quantitative easing, qe really was. but, you know, i think a major crisis on that level still wiped them out or put them in a position where they need to be wailed

but uber does have some serious financial clout some of its backers including goldman sachs goldman sachs and google. former chief of the washington, d.c. and the chicago departments of transportation. he joins us live from washington. just how surprised are you that these two uber executives were arrested in france? >> hi fel itionity. i'm not too-- felicity. when you have the general manager, being arrested, uber should be dismantled, you have a political problem you can't ignore anymore. >> it's a political problem and a legal problem. do you think that uber is going to find that france is one country that it simply cannot operate in? >> well you know i think it would be a shame if that happened because i think innovation is good. but uber has had a problem in europe. not a problem everywhere but in europe it's more striking because the culture is different. the governments there have not taken so kindly to being strong armed and pressured by companies like uber, with google and other companies that are innovating. eventually it will come up to a french constitutional council. whether

first of all, goldman sachs and leaving goldman sachs, why was that the right time? jim: i don't know if it was. but for many years, there was always a time where you have to leave. a place as competitive as goldman, i had seen a number of senior people leave and stay too long. did not know how to cope with life. i kind of told myself that i would certainly rather leave before the best time rather than after the best time. i will take the best and learn to explore elsewhere. when i am comfortable with pursuing the same path. by the time it feels -- [indiscernible] i don't really think about it. it did wonders for my career. a great meritocracy. it did. 40 years nearly since i first -- it was a great enabler from anything -- for mayny things. charlie: take goldman at their best whatever it might be. jim: it is pretty genuinely meritocratic. in terms of bringing me on board, remember that i joined as a partner. a be the fifth person -- may be the fifth person and quite a step for them to do. no one was interested in my background, how i spoke, where i came from. and peo

goldman sachs downgrading general motors, upgrading ford. s greater vulnerability to a weakening china. gm had been on its buy list. ford upgraded by goldman because of accelerated earnings momentum and "strong product launch cadence in the right segments," whatever that means. they have a $19 target which implies upside. >> maybe it means the new product cycle? >>> another call from goldman sachs, swapping terayne for applied materials. supplied materials they say added to the conviction buy list based on the 3-d manned product and the company's focus on its core business. >> 24 analysts cover applied materials. the average target price is $23.86. overall not that much optimism above the current price, but to your point, they're optimistic. >>> up next mccormick. the spice is nice. sorry. bernstein upgrade inging, going to 9 $93, from $81. this stock was about $15 ten years ago. today mccormick buying the barbecue saucemaker stubbs. >> that spice is spicy and sexy. >>> next up a pair of calls from from. take ea makes madden, battlefield and

greece got into the european union because goldman sachs and other big wall street firms finagled a derivative to hide their off-balance sheet stuff and now it's coming -- >> it took them 30 years to get to that point. >> why are you blaming their problem on goldman sachs? >> you suck um to wall street constantly. >> you do. you're blaming them when it was the greeks with the seven-hour workweek. >> you don't blame the drug dealer you blame the drug user. >> i blame you. >> you think drug dealers are bad. wall street is the drug dealer. greece is the heroin addict. capisce? >> if you were arguing in favor of world war ii being a good thing, i would take the opposite view just for the sake of principle. ben stein, real quickly, i know what you're saying we're a big country, we help our people and all this there is the argument i've heard julie raise if not here in the past, this will pay for itself down the road. such was said about social security and medicare et cetera. that we'd never really appreciate the magnitude of the bills we're piling up, that the good intentions are always there, the

. >> recently, the ceo of goldman sachs led his employees know he would be just fine with either bushclinton. i bet he would. i've got news for the boys of -- the bullies of wall street -- the presidency is not a crowd to be passed back-and-forth by you between two royal family's. mark: you were the governor of new york where wall street is a big deal. what is your view of the proper role for wall street in our economy and whether there are any excesses there that you would like to see restraint. governor pataki: there are tremendous excesses there and it's ours with the lobbying power in washington that has dramatically created a tax code that is incomprehensible. just two things i would do -- i would have a lifetime ban on any former member of congress serving as a lobbyist in washington summit d.c. i don't want goldman sachs or the teachers union hiring my senator when they retire or lose and peddling their influence instead of looking to help the people that sent them to washington. mark: specifically on wall street, what do you think of the role wall street plays in our economy a

goldman sachs president gary cohn believes it may end up having the opposite effect.h his latest op-ed and thoughts on the markets and regulation when we come right back. i'm here at the td ameritrade trader offices. ahh... steve, other than making me move stuff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place that lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim? for all the confidence you need. td ameritrade. you got this. >>> is financial regulation actually making this market more risky? it's a question a lot of people are asking. in an op-ed in "financial times" goldman sachs' president gore cohen warned a practice that is supposed to reduce risk is reducing risk but could actually amplify problems down the road. he says "clearing works best in the case of standardized products that trade in deep and liquids markets, and when clearing house

goldman sachs estimates companies will spend 28% of their total cash on buybacks.e saw that story being told in 2008 and 2009. we were just in the beginning stages of the financial crisis. scarlet: companies spent 34% of their total buybacks, so those bars could get a lot higher. mark: let's take a look at some of the top stories crossing the bloomberg terminal at this hour. dennis hastert will be arranged on federal charges in chicago on thursday according to news reports. charges areformal brought, the former speaker of the house is suffering the fallout from a cover-up of alleged sexual impropriety. his alma mater has dropped his name from the school of public policy center. wheaton college says it has accepted the former speakers resignation from the board of advisors. he is accused of lying to the fbi and making illegal bank withdrawals to conceal past behavior. hillary clinton will officially launch her campaign for the presidency on june 13 in new york city. a new poll shows mrs. clinton is still the overwhelming favorite among iowa democrats, but bernie san

it seems like an about-face by goldman sachs.they would make the case that you could have both. certainly, they were trying to get ahead of some of the things surrounding dark pools. last year calling for market reforms. not much has changed over the they are and so falling behind some of their competitors and want to revamp some of their technology and get back into the game. mark: you mention they are falling behind their competitors. goldman is now playing catchup. the technicolor school advances, will they allow goldman to level the playing field? michael: there are two ways of looking at it. in terms of the overall market, theing their clients to market as fast as possible, having the best execution. and then leveling the playing field with their competitors. goldman is the top equity trading bank by revenue, at least last quarter. they fight it out with morgan stanley quarter to quarter. they are the top two by far. area, goldman has slipped behind and want to get back to number one. betty: who are they recruiting, are they

next stock, goldman sachs, raymond james downgrading goldman sachs to a market performance. stock hit arraignment james price target on june 2nd. the sector has outperformed the market. it's up almost 7%. goldman nice trade on a tough day. >> i was just saying to the audience it was the only dow component that was higher about ten minutes ago and looking right now guess what? it still is. that's goldman sachs but one day. i get it. finally today's under the radar name. bill barrett. oil and gas company. bbg about $5.5 million market cap. their target goes to 14. they downgrade two others. >> bill barrett is down 64% in the past year. 500 million mark cap today was much bigger a year ago. >> they operate in unusual areas in baysins in utah. >> a big move in bonds. how significant those, is that move. joining us is jon najarian. put this in context, feels like the bond market has been whipping around lately. >> it does and has. no doubt about that. but i just want to point out what a great job janet yellen has done not because she signs my checks but because she's basically ta

what we were digging today was the goldman sachs report that talked about bubbles. the takeaway is, are we in a bubble? if so, so what? and should you actually be invested? michael: they talk to all these they talk to all these people and got a great quote that says, i fear crashes, but i worry about stocks and bonds rationally offering less. are the ages of great returns coming to an end? achael: i agree this is bubble, totally unsustainable. it is telling when you have jeremy siegel, the quintessential buy and hold advocate, saying he only sees 10% upside. that makes a statement as to how stressed we are, someone who has spent a career telling people to be invested in the stock market. adkins's quote, the one you highlight -- term bubble some rationalis reason behind this behavior, some reason people are acting this way. valuations are expensive. he said you would need to see assets at 30% increase in valuations before he would get worried. michael: if you have a guy like siegel saying it needs 10% more, after the market goes up 250%, are you going to hang on for

before that, he was cochairman of goldman sachs. he now serves as cochairman of the council on foreign relations. join me in welcoming bob. [applause] ms. sandberg: hank paulson, you can see how great this would be for them? 74th secretary of the treasury under president bush and ceo of goldman sachs. now chairs the paulson institute at the university of chicago eight think and do tank. and he has a book which just hit number three on the new york times bestseller list. [applause] ms. sandberg: tim geithner, 75th secretary of the treasury under president obama. you heard it here -- he never worked at goldman sachs. people think you did, but he never actually did that. bob has some views on why that he may choose to share later. he was ceo of the new york federal reserve bank. before that, he was a civil servant at treasury. please welcome our panel. [applause] ms. sandberg: we are sitting here with three of the most experienced economic decision-makers. a great honor for all of us. we might as well start with the economic outlook. i

goldman sachs another 52-week high again today. take a look at citi that move to the upside, jpmorgan huge call buying out. trades 30,000 out there. so i think these banks as we said been pausing for a while i think there's a move to the upside, the asset managers, insurers or actually the banks, i think all of them have room to the upside. >> we talked about approximate. rude last night, i think jeffrey was initialized all the insurers. i also think that goldman sachs to karen's point it's not that high yields or the yield curve is going to tep them it's the fact that the underlying commodities and the instruments is that they trade have been so volatile. look at fixed income commodity quarter they just had on april 6th. they crushed that. the epa number close to 6 bucks absolutely smoked it. i think it pushes up towards the 240 level we last saw i think in early 2007. >> coming up, tipping the scales. activist style. the two burger folks both with activists in them. should you follow suit or hold the sauce? >> plus greg maffe pul

the former chief economist and head of asset management at goldman sachs. he has not slowed down since retiring in wall street. and prime minister david cameron. that role, he was tasked with advising economic performance. i am pleased to have him back at this table. first of all leaving goldman , sachs, why was that the right time? jim: i don't know if it was. but for many years, there was always a time where you have to leave. a place as competitive as goldman, i had seen a number of senior people stay too long. they did not know how to cope with life. i kind of told myself that i would certainly rather leave before the best time rather than after the best time. of course, you don't know when that is. i thought that i will take the risks when i want to learn and explore elsewhere. when i am comfortable with pursuing the same path. i thought i wanted to do something else besides goldman sachs. i love the place dearly. i saw a couple of people from their over the weekend. i don't think about it a great deal. it did wonders for my career. it was a great meri

a former goldman sachs partner explains why this group is so important to the economy and how it ca be re >>> the government proposes to regulate aircraft emissions much like power plant emissions. the epa called them a threat to human health. this could clear the way for possible adoption of international emissn standards, but don't figure on anything soon. anytime global warming enters the discussion, a pol battle usuoll awrs on l hill they've reached a dealn a ke hurdle to president obama's specific trade both parties have agreed on providing help for workers hurt by trade. that moves a vote n len that woulde fasttr protauthor the president to friday. >> large city hiking its minimum wage, los angeles aroved hike to $15houg theatest city to do so. the vote follows similar moves in san francisco and seattle and many expect the issue to be hot on the campaign tra since the cycle heats up, kate rogers has more. >> it scores another victory. across the country there are now 29 states and washington, d.c. with a wage higher than the federal minimum of 7.25 an hour. experts say the pressu

before that, ceo of goldman and sachs. he now chairs the paulson institute at the university of chicago which is a think and do tank, i like that which and he has a new book called "dealing with china," which hit number three on the new york times bestseller list. [applause] our third, tim geithner, the 75th secretary of the u.s. treasury served under president obama. you heard it here, folks, he never actually worked at goldman sachs. he never did. people think he did but this may be why. bob has some views on why and he may choose to share them later. he was ceo of the new york federal reserve bank and before that, he was a civil servant, a career civil servant at treasury, and he is now president of warburg pincus. please join me in welcoming our panelists. so we are sitting here with three of the most experience economic minds and decision makers. that is a great honor for all of us. we might as well start with economic outlook. i think it is fair to say that so far, 2015 may not be as promising as we might have hoped

. >>> goldman sachs is the bank of the elite. not anymore. it will offer consumer loans.nd money at lower interest rates and still make a profit. >> who? >> goldman sachs. one of wall street's oldest banks wants to compete. >>> and hey working moms. don't stress out. a new study from harvard says your kids are just fine. in fact daughters of working mothers grow up to be more successful in the work force. they earn 23% more than daughters of stay at home moms and likely to be the boss. sons of working mothers contribute to child care and household chores when they grow up. they are better human beings. >> harvard. you can't trust them. >>> tropical storm bill. it is fast approaching texas. landfall due this morning. "new day" picks it up now. >>> texas bracing for floods as tropical storm bill barrels in. >> torrential downpours in the early morning hours. >> we bought 1,000 sand bags because it is the only measure we can take. >> we are urging the community to shelter in place. >>> new york state official tells cnn the trail for richard matt and david sweat has gone cold

goldman sachs and to the list after coming in a and then kpmg.hat there were so many accounting firms. betty: what do you read into that? julie: business students and finance students, but i was in accounting and my least favorite class was accounting. betty: goldman sachs came in at what number? julie: number four this year. betty: what about the difference between men and women? julie: for men and women, goldman sachs rank higher for men than women. you look at the big banks and there not many high-ranking female executives. then, you have the likes of moving forward to silicon valley from a big bank. thousand a change there. betty: thank you so much julie. much more ahead, we have a big hour ahead, talking about instagram challenging twitter. we will keep an eye on the markets, which are lower today as well. much more ahead on "bloomberg market day." ♪ betty: it is 10:00 a.m. in san francisco, 1 p.m. in new york. mark: there's still a long way to go, that is the word from germany's finance ministry as greece rejects its latest offer. traders g

the fed, goldman sachs' president said the market probably is not fully prepared for a rate rise.e said we're probably less ready than people think. it bopet surprising to me if there are some interesting reactions on the official change in the rate policy by the fed. if we look at the statement, this is a huge institution making a call on the preparedness for the markets. what cohn said, it is not the first move, it is the second the third, the fourd. do you agree? >> i think it is the trajectory that is important it is if you look at what is priced into market, it is not that much in term turnovers speed of it. it depends on whether they are late or early in raising rates as to how fast they will have to do it from there. francine: will it make the e.c.b.'s job much more difficult or buzz it will be such a small rise, we talk about outflows for emerging markets. the fallout globally if we are expecting that, it will be fairly limited. >> we're more worried about the fallout. i think actually it may be slightly easier. francine: why? >> just because over the diverging policy. man

. >> when the ceo of goldman sachs says he'd be fine with either bush or clinton that should be a wake-upl for all of us. >> democrat versus democrat the man challenging hillary clinton comes out swinging against the former live from the kgo tv broadcast center, this is abc 7 news. >>> here are the headlines of the day where you live as we approach 4:30. a thief tries to drive off with two cars off of south vanes in. the thief tried to steal a bmw and couldn't fit that car through the door and ended up driving a red bmw through the showroom window and then crash period period. police arrested the suspect shortly after the crash. >>> a day care worker at kids building school is out on bail after police arrested him for alleged lewd acts with a minor. police arrested alexander kurtz on campus thursday. wayne freedman tweeted police assured them that none of their kids are involved. wayne will have a live report coming up on abc 7 news at 5:00. today demonstrates are gathering in front of facebook's gay pride ban tore protest the real name policy. abc 7 news reporter sergio quintana says the

morgan and goldman sachs? on bloomberg television, this is all coming up, streaming on your tablet, your phone, and bloomberg.com. this is "bloomberg surveillance ♪." ♪ tom: good morning, everyone. "bloomberg surveillance." let's get to top headlines with vonnie quinn. vonnie: in new york, two murderers made a daring escape from prison. they use power tools to break out of a prison located 25 miles from the canadian border. they left homemade dummies in their cells to fool guards. germany is in correction territory. the dax has now dropped 10% since its last peak in early april. some investors blame the country's bond's love her german debt -- bond slump. switzerland is the new -- novak djokovic was beaten 6-4, 6-3 6-4. the french open is the only major title that? which has not won. stan wawrinka won the french open. brendan: staying in europe, the co-ceo's deutsche bank, are stepping down. christine harper joins us on the set. there is a quote in the piece on the terminal about the move this morning. "too li

getting an update from goldman sachs.u look at the price of silver, there are lots of silver sales. goldman sachs is slashing their output for japanese power producers. across that sector, they basically take that one out. fairly clear reaction there. with a law things up firm in australia. massive drop today, 21%. it's a very collocated story. he agreed to buy a business unit back in march which is being investigated in the u.k. we might see revisions there as far as previous financial statements are concerned. companies in indonesia could face higher costs because of a ban on using foreign-currency or local transactions. let's go to jakarta. why are they doing this? the use ofs ban on foreign currency is seen as coming at the worst possible time. starting july 1, it is estimated day 12 u.s. dollars per will be prohibited. eight drop -- the economy grew at the slowest pace since 2009. about 45% of indonesian working capital investment lending last year was in foreign currencies. they are requiring companies to have at le

and here in new york, nomi prins is a former managing director at bear stearns and goldman sachs and previously an analyst at lehman brothers and chase manhattan bank. now a distinguished senior fellow at demos. she is also the author of, "all the presidents' bankers: the hidden alliances that drive american power," which was just released in paperback. last week, prins was invited to address global central bank leaders at the federal reserve and imf's annual conference. welcome all of you to democracy now! let's first go to gawain kripke. can you talk about the massive protest going on outside, and that even larger police presence , believed to be the largest police operation in bavarian history, why people are protesting the g-7 summit? >> it is a very energetic protest that started in munich a few days ago and then moved up here to the mountains. it is a wide diversity of complaints that the protesters have against the g7. i was a the biggest one that i observed was a real concern about the real free trade agreement that is being negotiated between europe and the united states wit

goldman sachs and citigroup both back today. stocks have rallied, that they have done well over the past year or so p he also says in the second half, they will have the -- weaker revenues and lower volumes. valuation,ake that if you will, versus the index of banking stocks. take a look at the bloomberg terminal. i adjusted this for percentage. down here in the yellow line, we have had that index. it is up about 11%. the orange line however, -- goldman yesterday closed at a record. .o falling today santa --stocks, my andanto is cutting costs developing plans to reduce operating expenses by $.5 billion. that implies monsanto things coin and soybean prices will continue to drop weird it is significant because they have dropped quite a bit already. take coin -- take corn. we sought reach a high in mid to late 2012. over the past three years or so, the highest coming late into 2012. a declines ever since. because it has risen, we saw farmers trying to increase its yields. that results in prices the default. folks ares though drawing

we will see if that makes sense to goldman sachs over the next month or so. money coming out of germany. we are seeing bonds rising. we saw big moves yesterday. check out what is happening in greece. yesterday we saw one and a half percent down in terms of borrowing from greece. we saw some significant moves when it came to greece in terms of borrowing costs. they came off by some five percentage points yesterday. we are at 22.68% if they theoretically wanted to enter the bond market. let's have a look at the stocks to watch. we have a whiff of m&a. check that out. they come out saying, we are indeed confirming that we could be in talks confirming a possible merger discussion. you would see europe at retail. people liking consolidation in the market. this is one of the big players in french telecom. this is what patrick druggie owns. this is a company that might not be able to buy up its rival. it seems the economy minister voicing his discontent even further and his ministers seems to not be liking this. they are saying bad for the economy and investment as