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manus cranny, hans nichols.ua will have to pair with them throughout the morning on bloomberg. you want to talk, i am on twitter. stock down across europe. a beautiful day in the city of london. best of luck for the rest of yours. ♪ francine: a deflation fear. another slow down and chinese factory gate figures. growing speculation that the pboc will act soon to ease monetary policy. manus: jpmorgan mrs. ann says trading pain is not over yet. bank earning season begins. francine: clinton goes on the offensive as the first democratic debate white house race. ♪ welcome to the polls. live from bloomberg's
manus cranny, hans nichols.ua will have to pair with them throughout the morning on bloomberg. you want to talk, i am on twitter. stock down across europe. a beautiful day in the city of london. best of luck for the rest of yours. ♪ francine: a deflation fear. another slow down and chinese factory gate figures. growing speculation that the pboc will act soon to ease monetary policy. manus: jpmorgan mrs. ann says trading pain is not over yet. bank earning season begins. francine: clinton goes...
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Oct 20, 2015
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hans nichols is in berlin. the city of london trying to figure out how on our event happened. did it happen? running through it. hans: a junior trader on the foreign exchange debt dealing with a hedge fund client and instead annexing out, they grossed out for after a big night a drinking, i pay for all of your drinks not counting all said and what i paid, a much bigger bill heading your way. the reporter yesterday and bloomberg confirmed. take a look at the receipts. a sharp dip down and everybody realized it was an error. you see them pick back up. it is the reported to the relevant authorities in the u.k. and here on the continent as well to the u.s. federal reserve. what it does is raise questions about deutsche bank. it is so of reasons concerning. a company in transition. we saw john crane on sunday at enough a new leadership structure. a bunch of musical chairs and a s are looking eye get everything. what sort of protocols are in place? embarrassing for the bank and they have declined to comment and the money is recovered and we get to talk about a $6 billion fat finger e
hans nichols is in berlin. the city of london trying to figure out how on our event happened. did it happen? running through it. hans: a junior trader on the foreign exchange debt dealing with a hedge fund client and instead annexing out, they grossed out for after a big night a drinking, i pay for all of your drinks not counting all said and what i paid, a much bigger bill heading your way. the reporter yesterday and bloomberg confirmed. take a look at the receipts. a sharp dip down and...
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Oct 8, 2015
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hans nichols is in there. what did they know? hans: here is what volkswagen has said.hael horn said he was made aware in the spring of 2014 of possible noncompliance on emissions. in 2014, i was informed that the technical teams had a specific plan for remedy to bring the vehicles into compliance and they were engaged with the agencies about the process. volkswagen spokesperson said they did not know that he did not know the company had software a device, that is at the center of this scandal. we have testimony from the environment to protection agency officials. they will be telling the committee that the fines that they assess will be determined on what they think the economic benefits that volkswagen derived from it. here is what they're going to say. to assess -- pursue appropriate measures. hearta will look at the that the pollution caused. how much harm there was. volkswagen will not be asking for certification of their diesel vehicles in the states. that is another development. yesterday, they submitted their plan for a fix to german authorities. is if ifirst re
hans nichols is in there. what did they know? hans: here is what volkswagen has said.hael horn said he was made aware in the spring of 2014 of possible noncompliance on emissions. in 2014, i was informed that the technical teams had a specific plan for remedy to bring the vehicles into compliance and they were engaged with the agencies about the process. volkswagen spokesperson said they did not know that he did not know the company had software a device, that is at the center of this scandal....
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Oct 23, 2015
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let's go to hans nichols in berlin for a breakdown. how will local governments be affected? cal governments will be hit on two fronts. one, they could lose revenues based on what volkswagen sales do. and a lot of revenue comes in from corporate tax as well as land tax. two, if there are playoffs, they'll a, have to spend more for unemployment benefits, but b, they will have less receipts on the employee side of things. you take a look at a couple of these towns. there are three towns that are almost volkswagen central. 125,000, there they have about 60,000 employees in the town. million is trimming 19 and budget projects from an ice skating rink to building new roads. then you go down to the south and the very. an audio town -- in bavaria. they have got 40,000 employees that work at the audi factory. that could be affected. other towns as well affected. when you take a look at the numbers of employees that just work on diesel engines, it is 75,000. they say, and this is from the label ministry, they say they don't expect job losses just yet. number wee time, the are getting i
let's go to hans nichols in berlin for a breakdown. how will local governments be affected? cal governments will be hit on two fronts. one, they could lose revenues based on what volkswagen sales do. and a lot of revenue comes in from corporate tax as well as land tax. two, if there are playoffs, they'll a, have to spend more for unemployment benefits, but b, they will have less receipts on the employee side of things. you take a look at a couple of these towns. there are three towns that are...
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Oct 26, 2015
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jonathan: hans nichols in berlin, thank you very much.t, as struck a brings life into the euro-dollar parity, the fed needs a hike rate before the end of the year to make it a reality. we talk for an exchange next. ♪ jonathan: good morning and welcome back to "on the move." i'm jonathan ferro in london. o yourutes and -- 3 int trading day. ftse 100 is down by half of 1%, the dax down by 22 points. a big rally in the back half of last week for the stoxx 600, the longest winning streak since march. a little bit of a pullback this morning, down by half of 1%. switch at the board -- when we reasons for the equity market strength was the euro weakness. it was down 3% last week, the worst week for this currency since july and spreads were much tighter. italy was below 100 basis points to close out the week. they are some of the moves in the asset classes and let's get to stock news with caroline hyde. caroline: the pain continues. i want to talk about the that-performing stock, and of the significant so off we saw on friday and it has now lost
jonathan: hans nichols in berlin, thank you very much.t, as struck a brings life into the euro-dollar parity, the fed needs a hike rate before the end of the year to make it a reality. we talk for an exchange next. ♪ jonathan: good morning and welcome back to "on the move." i'm jonathan ferro in london. o yourutes and -- 3 int trading day. ftse 100 is down by half of 1%, the dax down by 22 points. a big rally in the back half of last week for the stoxx 600, the longest winning...
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Oct 8, 2015
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our international correspondent hans nichols has more. what did the top u.s. ecutive actually know, when did he know it more importantly? hans: caroline, you are getting all involved in the watergate terminology. what did you know, when did he know it? not quite the same level. but what we do have is michael moore, head of the u.s. division, he was made aware in the spring of 2014 of a possible emissions noncompliance issue. here is what he will tell lawmakers j. testimony came less than. he said later in 2014, i was informed that the technical teams had a specific plan for remedies to bring the vehicles into compliance and they were engaged with the agencies about the process. the spokesman said later in the afternoon yesterday that he did not know that the device was installed on the volkswagen diesel engine. the software -- that is the thing that is in question. just as importantly today, we will also hear from the epa. and they are going to indicate that the potential finds that volkswagen could face want to be directly proportional to the kind of economic
our international correspondent hans nichols has more. what did the top u.s. ecutive actually know, when did he know it more importantly? hans: caroline, you are getting all involved in the watergate terminology. what did you know, when did he know it? not quite the same level. but what we do have is michael moore, head of the u.s. division, he was made aware in the spring of 2014 of a possible emissions noncompliance issue. here is what he will tell lawmakers j. testimony came less than. he...
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Oct 9, 2015
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hans nichols joins us now. h that you don't have any money, but you do have some insight. hans: well, in some ways we won't have inside for 50 years. that is when the minutes of the nobel committee become public. you look at the said minutes -- we get those weeks later. you and i will have to live a long time to figure out what happened to angela merkel, if she did indeed win. here are some of the odds. 2:1 at paddy power. has herr -- ladbrooks 5:1. it looks like he has some predictive power. either way, we are going to have a big discussion inside germany whether she wins or loses. all the papers are doing what i would call a classic hedge, taking out all kinds of news prints. we have a list of all the past german winters. i was unaware that the first german winner was in 1926. then henry kissinger, born in germany. they are claiming that he is their own. also billy brandt in 71. the former mayor of berlin. we have the congolese doctor who helps rape victims in the congo. his country is war-torn and he is there
hans nichols joins us now. h that you don't have any money, but you do have some insight. hans: well, in some ways we won't have inside for 50 years. that is when the minutes of the nobel committee become public. you look at the said minutes -- we get those weeks later. you and i will have to live a long time to figure out what happened to angela merkel, if she did indeed win. here are some of the odds. 2:1 at paddy power. has herr -- ladbrooks 5:1. it looks like he has some predictive power....
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hans nichols in berlin. hans, give me the odds. show me the money. manus, i thought we had that rule about vegas. if you are a betting man, 2:1 is what paddy power has. no one knows, though. when you look at merkel's numbers, they are declining. we just had a public opinion poll -- she is down almost 2%. support for refugee policy is falling. she has an internal challenge within her own party with her sister party as well. this is difficult for angela merkel. if she does end up getting the award now, which we will see in 23 minutes, it could be because of a refugee problem and that is the biggest headache. we should also mention some of the other candidates -- the priests, the congolese there are a lot of other worthy contenders. i'm not sure we can even use the word contender because we are quite certain who is competing with whom. it is all very secretive. five members of the nobel committee in oslo. we will know in a little bit. who is your gas? s? your gues manus: and my not on the list? -- and i knocked on the list? [laughter] coming up next, ho
hans nichols in berlin. hans, give me the odds. show me the money. manus, i thought we had that rule about vegas. if you are a betting man, 2:1 is what paddy power has. no one knows, though. when you look at merkel's numbers, they are declining. we just had a public opinion poll -- she is down almost 2%. support for refugee policy is falling. she has an internal challenge within her own party with her sister party as well. this is difficult for angela merkel. if she does end up getting the...
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more with hans nichols next. ♪' manus: welcome back.eaming on your desk , streaming onio your tablet, your phone. francine: front runner clinton and bernie sanders stole the show in this field with both taking aim at wall street. >> it is illegal behavior of wall street, where fraud is a business model helped to destroy this economy and the lives of millions of people. smallhink about the businesses started because we have the opportunity and freedom for people to do that and to make a good living for them and their families. we should not confuse what we have to do every so often in america, save capitalism from its self. manus: when you see saunders -- when you see bernie sanders and hillary, where is she in terms of wall street debate? s: she is left of where she was. what she has done in the way of byth hoped she got bloodied are challengers, her changes in position in trade would be highlighted. that did not happen. bernie sanders came to the defense of hillary clinton. let's listen to that. sanders: the american people are sick an
more with hans nichols next. ♪' manus: welcome back.eaming on your desk , streaming onio your tablet, your phone. francine: front runner clinton and bernie sanders stole the show in this field with both taking aim at wall street. >> it is illegal behavior of wall street, where fraud is a business model helped to destroy this economy and the lives of millions of people. smallhink about the businesses started because we have the opportunity and freedom for people to do that and to make a...
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i want to bring in hans nichols. estion, is the it too premature to make a judgment on what is happening in germany? hans: it is not to premature. the economists making the prediction. they have all been off. the biggest concern is how big the mrs. r. we saw sales decrease. economists were expecting a decrease of 0.8%. a series of 3, 4 if you count the resistance -- the revisions. the most concerning was the import number. imports down 3.1%. is that because of german consumers took a look around? a lot of the uncertainty greece was in because factories looked around and we are not going to be importing -- next month's numbers are going to be even worse. the member, september may factor in some of the volkswagen scandal, but not all of it. the volkswagen scandal is not going away. these numbers are not including the volkswagen diesel engine scandal. that is cause for concern. or we fire these economists we have been doing this survey with, because they have all been off. ask pau: let's morilla-giner. do we start with d
i want to bring in hans nichols. estion, is the it too premature to make a judgment on what is happening in germany? hans: it is not to premature. the economists making the prediction. they have all been off. the biggest concern is how big the mrs. r. we saw sales decrease. economists were expecting a decrease of 0.8%. a series of 3, 4 if you count the resistance -- the revisions. the most concerning was the import number. imports down 3.1%. is that because of german consumers took a look...
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hans nichols is in berlin. an individual policy, not a companywide policy. at else to the have to say? hans: he said sorry a lot, he was trying to impress that he was embarrassed this happened was company. he vacillated sometimes talking about how angry he was. but he also said there was not an easy solution and they will take a long time to fix this. he did not play out a timeline just said they are still working on it and there was not a simple software solution. >> roughly 500,000 cards are affected, around 430,000 cars are the gen one which were the very early ones that were started in 2009. that ase cars we believe software only solution will not be possible because in order to be quite frank if it would've been possible they would've it met the standards in the first place. hans: just moments ago is spokesperson put out a statement saying they are looking into whether or not the software is illegal in the european union. what the bigger engines there may be a software fix. for the 1.8 and the 1.6 it is more complicated. jonathan: hans, it isn't all bad
hans nichols is in berlin. an individual policy, not a companywide policy. at else to the have to say? hans: he said sorry a lot, he was trying to impress that he was embarrassed this happened was company. he vacillated sometimes talking about how angry he was. but he also said there was not an easy solution and they will take a long time to fix this. he did not play out a timeline just said they are still working on it and there was not a simple software solution. >> roughly 500,000...
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we have hans nichols in germany. it sounds to me like job losses. should i read between lines? not. this does not mean job losses did they would like to see executive bonuses to be trimmed. have two sides to vw's story. one we had to come in yesterday nomura investments. tightening going on. -- no more investments. tightening going on. he said january 2016 is when they're going to start the recall for the german vehicles. he is hinting is going to be an easy software fix. that seems to be the most speculation from the german press. on the other side, we have australia, they've announced they have 77,000 affected vehicles. when you look at where they cand trim investments, you -- you havees and personal costs which are much higher than competitors. jonathan? jonathan: german industrial production this morning, is it too early to build a case that china is starting to infect that data? hans: you can start preparing the case. i don't know if we can close the case and finish the argument. we've gotten three straight days of negative data, obviously not a positive sign. of these are
we have hans nichols in germany. it sounds to me like job losses. should i read between lines? not. this does not mean job losses did they would like to see executive bonuses to be trimmed. have two sides to vw's story. one we had to come in yesterday nomura investments. tightening going on. -- no more investments. tightening going on. he said january 2016 is when they're going to start the recall for the german vehicles. he is hinting is going to be an easy software fix. that seems to be the...
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let's bring hans nichols into that story. how vulnerable is germany right now? have frankfurt's which seem to be conflating. hans: the order numbers are down. want .8% on the negative side. they expect to 0.5% growth. the july numbers were revised downward. are the better part of two years we have been talking about data from various institutes. rarely does the market to move and we get excited about factory numbers, it is a lagging indicator and unpredictable. a lot of people look at the numbers because they are looking at the headwinds the german economy is facing. in august it was china, september -- of volkswagen. finally, the numbers are showing it. these are not good predictive numbers. there are data series that may be better at predicting. the problem is you have a german economy that is humming along. wages are going up. the germans are feeling good about life despite the headwinds there are economy is facing. hans: that is reflected in the ego numbers. vw has been in lockstep. anddisappointing figure, this was on the margins, was unemployment. the numb
let's bring hans nichols into that story. how vulnerable is germany right now? have frankfurt's which seem to be conflating. hans: the order numbers are down. want .8% on the negative side. they expect to 0.5% growth. the july numbers were revised downward. are the better part of two years we have been talking about data from various institutes. rarely does the market to move and we get excited about factory numbers, it is a lagging indicator and unpredictable. a lot of people look at the...
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hans nichols has it at the summit and joins us now from brussels. hans, a lot of conversation on how much turkey can be involved in the planning of migration. what progress has been made? hans: they have a draft document. it was a late night here, but it was an inconclusive night. here is what we have, potential 3 billion euros going from the european union in some sort of joint fund to turkey to help them really stem refugee crisis from the country from which they are leaving. now there is quite a bit of division, angela merkel seems to be confused. countriesn european are not playing along, said she wants to get to the bottom of this. and when jean-claude spoke, he said there would be another round that would be optimistic. refugees to stay in turkey, that is the first point. the second point is preventing refugees and migrants from traveling in turkey to the european union. i know that is a debate in the press and elsewhere. about the financial amount, we are ready to bloo be part of the discussions in the next few days under the leadership, i gue
hans nichols has it at the summit and joins us now from brussels. hans, a lot of conversation on how much turkey can be involved in the planning of migration. what progress has been made? hans: they have a draft document. it was a late night here, but it was an inconclusive night. here is what we have, potential 3 billion euros going from the european union in some sort of joint fund to turkey to help them really stem refugee crisis from the country from which they are leaving. now there is...
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Oct 5, 2015
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ours talk to hans nichols, international correspondent. dismal words from the incoming chairman. hans: i imagine that they sound even worse in french. that is what he is getting at. an x essential crisis -- exis stential crisis. in 2008, they became aware that there new engines would not pass regulatory muster. at that point, project engineers made a determination that they could have an easier regulatory fix, which is to say software. that is the direction they took. so many cars have been if acted and that is where we are at over the weekend -- have been affected, that is where we are. at over the weekend. the incoming chairman numerate it a number of concerns. he did not say, he is pretty clear, they will not sell any additional brands. so bugatti when i be on the table. he is concerned -- so bugatti won't be on the table. he is concerned about their cash. their 25 billion euros cash on hand, but there is a note out that this could cost potentially 78 billion. in the past few weeks, 30 billion has been shaved off their market value. 40%. this is getting to the point where chanc
ours talk to hans nichols, international correspondent. dismal words from the incoming chairman. hans: i imagine that they sound even worse in french. that is what he is getting at. an x essential crisis -- exis stential crisis. in 2008, they became aware that there new engines would not pass regulatory muster. at that point, project engineers made a determination that they could have an easier regulatory fix, which is to say software. that is the direction they took. so many cars have been if...
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national correspondent hans nichols joins us. breakdown the details. basically what we had were stress tests for energy companies. it is in germany decommissioning all of the powerplants, nuclear power plants by 2022. there's been back and forth because 38 billion and five utility companies set aside and provisions for the process. report out in september that suggested that would not be enough. what we have today is a clean bill of health from the economy mr. -- economy minister a he is the vice-chairman and he sent an e-mail out saying there is going to be enough money and the provisions are adequate. and some of the worst-case scenarios if somebody -- that outside consultancy group were warning are unlikely to happen. between 55 billion and 77 billion pounds set aside for the five companies including one dutch one that will be enough to see energy stocks trade higher. do not kidding yourself. it's going to be a difficult product -- a difficult process. jonathan: hans nichols. to m&a. ab inbev is said to be having a sweetened bid for sabmiller. the de
national correspondent hans nichols joins us. breakdown the details. basically what we had were stress tests for energy companies. it is in germany decommissioning all of the powerplants, nuclear power plants by 2022. there's been back and forth because 38 billion and five utility companies set aside and provisions for the process. report out in september that suggested that would not be enough. what we have today is a clean bill of health from the economy mr. -- economy minister a he is the...
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tom: hans nichols, thank you so much. can tell you, when you come over to london, this is front and center -- page 34 and 35 of "the times of london," "children drown as migrant boat hits coast guard cutter." francine: it is front page, not number 34. tom: i have to admit it is one of the great observations this week, the scale of this is extraordinary. is this the price of turkey entering the euro? davide: i support the italian prime minister. europe, we have human basically ownership first to support these people. every person, every migrant. what is happening is, because of the politics of the european crisis and because of planning, the european countries are blocking the trade. we as westernf europe, including eastern europe, after the berlin fall, they were migrants then. but the core europe said welcome. that will increase the economy. europe has a democratic issue. we should welcome these migrants. tom: do you agree with that, carl? there is a long-term benefit, but what about the short-term? carl: it is an invest
tom: hans nichols, thank you so much. can tell you, when you come over to london, this is front and center -- page 34 and 35 of "the times of london," "children drown as migrant boat hits coast guard cutter." francine: it is front page, not number 34. tom: i have to admit it is one of the great observations this week, the scale of this is extraordinary. is this the price of turkey entering the euro? davide: i support the italian prime minister. europe, we have human...
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hans nichols joins us with more from berlin. you were michael horan's lawyer, what would you be telling him this morning? hans: i would be very aware of fred upton. if you are an auto executive appeared before the house committee, you need to be worried about the democrats. in this case, the congressman from michigan could be playing protective defense on his industry in michigan. it is michael moran, the head of the u.s. operations. they were aware back and early 2014 of some potential emissions noncompliance. butrely get to say this this is one morning i wish i were in washington, not berlin. that committee hearing is the crackling tension. you have to look at not only what mr. upton says. and then on the democratic side you have a big environmentalist. you will have a lot of members of congress trying to take volkswagen down. tom: i remember the silliness of detroit executives taking their vw diesels from detroit to washington to show how sensitive they were to the american people. let me cut to the chase. do german executive
hans nichols joins us with more from berlin. you were michael horan's lawyer, what would you be telling him this morning? hans: i would be very aware of fred upton. if you are an auto executive appeared before the house committee, you need to be worried about the democrats. in this case, the congressman from michigan could be playing protective defense on his industry in michigan. it is michael moran, the head of the u.s. operations. they were aware back and early 2014 of some potential...
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that spring in hans nichols.eamnot know what football a support, or if they look at football in china. when you look at european growth, it is slower than expected. do withs it have to inside, emerging markets, and china. and: i was negative concerned with the data until yesterday. we got the luxury auto sector numbers from china. theaw mercedes up 53% in month of september, that is not a chinese consumer that is concerned about spending. even audi which is part of up.swagen, is it looks like there is a rebound. i've more concerned with that would mean for germany's export economy. france, we had flat growth. that seems to be a bigger problem for germany. china ity travels to is always about france. they have a franchise in china. what is the german attitude in china? germany's exposure is? tom: i understand why the chinese want to work with the nuclear engineers and that, all i know that there are 14 audis around the block. it ismy guess would be heavily auto influenced. that is my first take. when you talk abou
that spring in hans nichols.eamnot know what football a support, or if they look at football in china. when you look at european growth, it is slower than expected. do withs it have to inside, emerging markets, and china. and: i was negative concerned with the data until yesterday. we got the luxury auto sector numbers from china. theaw mercedes up 53% in month of september, that is not a chinese consumer that is concerned about spending. even audi which is part of up.swagen, is it looks like...
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hans nichols, over to you. agen is preparing to submit their plan covering 2.8 million cars. we heard yesterday from the ceo, talking about pain being involved. we also heard from the head of the works council indicating that there won't be any job losses, but first workers should not have to pay, they should not have to "foot the bill" by problems made by executives. quote in the ceo saying that "we will review all and i will be completely clear." this and $86 billion spending plan. this is a company that has a lot -- more been 17 billion dollars on research and development than apple and google combined, then ford and general motors combined. if you look at their number of employees there are close to 600,000 worldwide. --a percent of their overall it is much higher than their peers. they are pretty good in terms of their overall number, but they do want to wring more profitability from their volkswagen brand. 3/4 of their profits came from porsche and audi, the brands that are really printing money. part of i
hans nichols, over to you. agen is preparing to submit their plan covering 2.8 million cars. we heard yesterday from the ceo, talking about pain being involved. we also heard from the head of the works council indicating that there won't be any job losses, but first workers should not have to pay, they should not have to "foot the bill" by problems made by executives. quote in the ceo saying that "we will review all and i will be completely clear." this and $86 billion...
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francine: let's get more on germany with hans nichols in berlin. , how significant is this for germany? hans: well, when you look at the numbers we had this morning, we had to data dumps. cpi came in as confirmed -- -0.2% -- but those chinese import numbers could weigh heavily on the german economy. that is why they are interested to see what we get in this study survey in about 25 minutes. the last couple months -- it has been a good indicator of the slowdown. he expectation is for 6%. back in april, may, we were move north of 60%. we haven't seen a similar decline on their expectations, but something quirky is going on in the german economy, and we will see whether or not it is reflected in his next batch of data. hans, what is the latest on vw? we know you are on top of this story. what is the latest daily drip? hans: i know you want to get to the hollywood optioning of the movie, the let's get to the heart -- it was downgraded -- [laughter] hans: their debt was downgraded. it is more about their company culture. here's what they said -- "vw has
francine: let's get more on germany with hans nichols in berlin. , how significant is this for germany? hans: well, when you look at the numbers we had this morning, we had to data dumps. cpi came in as confirmed -- -0.2% -- but those chinese import numbers could weigh heavily on the german economy. that is why they are interested to see what we get in this study survey in about 25 minutes. the last couple months -- it has been a good indicator of the slowdown. he expectation is for 6%. back in...
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Oct 6, 2015
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hans nichols joining us in berlin.german we are joined by fed cup krumbmuller -- where joined by famke krumbmuller. how much money they might have to pay out. it is than five years since that oilwell disaster. have as long a tale? famke: is very low could. it will be difficult to estimate how much more will come over the next few years. the key question that will be raised is will the company run into financial problems? will the german state actually intervene? the speculation at this time -- that is the main question. guy: you could forgive the germans for feeling obligated right now. vw, you've got in the mix. we don't know how many migrants are going to show up on germans doorsteps. we don't know what is good to happen with the chinese economy, because they are pretty explosive. there seems to be a lot of rumsfeld moments for germany to deal with. how is germany dealing with that? think angela merkel is facing a challenge. people are saying this might be the most challenging moment of her chancellorship. she is get
hans nichols joining us in berlin.german we are joined by fed cup krumbmuller -- where joined by famke krumbmuller. how much money they might have to pay out. it is than five years since that oilwell disaster. have as long a tale? famke: is very low could. it will be difficult to estimate how much more will come over the next few years. the key question that will be raised is will the company run into financial problems? will the german state actually intervene? the speculation at this time --...
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Oct 15, 2015
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our international correspondent, hans nichols has been following the scandal. he is still with us. we tried to get rid of him. he is clinging to the chair. how big a deal is this? hans: i think it is more important that bill is reporting it. i think it is important -- we all knew that the diesels would be recalled. the idea that germany is officially demanding it, give you a sense of friction between the state but also the transport ministry. that is a bad sign for vw. that germany is letting them know you need to write the wrong -- right or wrong. they need a software upgrade, that is no surprise. the fact that it is coming from a german government, if i were the company i would be concerned. guy: if you're are not there, would you not be concerned? is everyone else going to take advantage of this? i am curious about the dynamics in germany? hans: you mean with other automakers. everyone has gone down the diesel road. when you look at diesel penetration, it is probably about 80% in germany. everyone is committed to this foot -- fuel. they said it was not just a
our international correspondent, hans nichols has been following the scandal. he is still with us. we tried to get rid of him. he is clinging to the chair. how big a deal is this? hans: i think it is more important that bill is reporting it. i think it is important -- we all knew that the diesels would be recalled. the idea that germany is officially demanding it, give you a sense of friction between the state but also the transport ministry. that is a bad sign for vw. that germany is letting...
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Oct 6, 2015
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let's go to berlin and speak to hans nichols.he latest data telling us about the state of play? hans: what analysts are telling us is yes, it is bad, but it is not time to panic on the german economy just yet. will we is factory orders for the month of july negative, august negative. revised downward and the august number didn't meet expectations. it came in at -120%. -- -1.8%. yesterday we had a negative pmi reading that was downgraded from the initial reading. that is giving us a little queasiness -- we may be starting to see signs of the german economy being susceptible to china. one quick note -- this one include anything on folks like an. -- on volkswagen. guy: what is the news on them? we have this west virginia story, and we are getting more up-to-date.ring us hans: 8 million is the number in western europe, that is the number they sent to the german parliament on the number of affected vehicles. volkswagenuits in for west virginia. cars,hey only have 2000 yet they are still filing suit. and you have the company that --ds
let's go to berlin and speak to hans nichols.he latest data telling us about the state of play? hans: what analysts are telling us is yes, it is bad, but it is not time to panic on the german economy just yet. will we is factory orders for the month of july negative, august negative. revised downward and the august number didn't meet expectations. it came in at -120%. -- -1.8%. yesterday we had a negative pmi reading that was downgraded from the initial reading. that is giving us a little...
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Oct 22, 2015
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let's get to hans nichols. he has been looking at the numbers. : the top line number on revenue was 37 billion on the quarter, that is the same and exactly in line with estimates. millioname in at 150 higher than expectations on the far high and. given that revenue is staying at the same place, that is an indication that we do have some strong profit margins from her sadie's, from daimler. it is their truck division we want to look to. we also want to see how sales have been doing in china. for the most part, daimler sales have been holding up in china. that is not necessarily true for the entire german auto sector because daimler has so many new models flying off the conveyor belt. those are selling very well in china. but we will be looking and digging more, but a first look, it looks like is a good impressive third quarter. for an auto industry that is concerned about china. happeningut what is with vw, europe, what is next for the company? hans: daimler obviously want to take market share from audi. they're in a close match with one of the 12
let's get to hans nichols. he has been looking at the numbers. : the top line number on revenue was 37 billion on the quarter, that is the same and exactly in line with estimates. millioname in at 150 higher than expectations on the far high and. given that revenue is staying at the same place, that is an indication that we do have some strong profit margins from her sadie's, from daimler. it is their truck division we want to look to. we also want to see how sales have been doing in china. for...
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Oct 28, 2015
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tom: hans nichols, thank you very much. with futures up three. dow futures up 15.have much more to talk about. a smart morning read. jon ferro with that important interview on oil in the next hour. kate moore will join us. we would talk to her about a single digit world. it is a bloomberg surveillance. ♪ ♪ jonathan: good morning. this is bloomberg surveillance. i am jonathan ferro and the city of london. gray skies. tom, we do not do seasons. tom: it is gorgeous. look forward to being there with you and francine lacqua. here is the morning must-read. it is from steven roach. dr. roach of yale, formally morgan stanley. the recognizing the drivers of these development. a chronic shortfall of aggregate demand and a deflationary profusion of technological innovations and new supply chains, the fed continues to minimize the deflationary impact of global forces. this is absolutely must read. agree or disagree. -- jonro, a makepeace .erro, a meant peace why are central bankers so reluctant to bring in? is it fear that dominates our thinking? axel: they are out of tools. t
tom: hans nichols, thank you very much. with futures up three. dow futures up 15.have much more to talk about. a smart morning read. jon ferro with that important interview on oil in the next hour. kate moore will join us. we would talk to her about a single digit world. it is a bloomberg surveillance. ♪ ♪ jonathan: good morning. this is bloomberg surveillance. i am jonathan ferro and the city of london. gray skies. tom, we do not do seasons. tom: it is gorgeous. look forward to being there...
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Oct 23, 2015
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let's go to hans nichols. what is the story? hans: the composite number holds.month it was down. it is a good number and still below the august number of 55. anything north of 50 signals expansion and less signals contraction. ons is a pretty good number the composite side. services are really surprised me upside. i would be more concerned about the manufacturing number coming in less than expected. what everyone is concerned about scandalny is how the vw will affect the broader economy. our we starting to see the beginnings of a slowdown? two weeks ago we had factory orders that disappointed. we had industrial production that disappointed. on the german side, services are blooming, but there is a slowdown in manufacturing and that could be a potential concern. jonathan: you and i have gone back and forth about this. a chineseis there story buried in this as well. hans: potentially. the one thing about emi'is they pmi's is they are immediate. we will get the flash rooting for october in a couple days. we had numbers other friends this morning. they all were on t
let's go to hans nichols. what is the story? hans: the composite number holds.month it was down. it is a good number and still below the august number of 55. anything north of 50 signals expansion and less signals contraction. ons is a pretty good number the composite side. services are really surprised me upside. i would be more concerned about the manufacturing number coming in less than expected. what everyone is concerned about scandalny is how the vw will affect the broader economy. our we...
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Oct 20, 2015
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here is hans nichols. ns, this is a pretty significant amount of money to send to the wrong destination for anyone. hans: i think that is correct. we have $6 billion. it was trovered next day. the financial times initially broke this story. we should give them credit. i want to show you what the receipt did when they reported it. this is one way to see what foreign things are doing. take a look at this when it was published. it recovered in the same way that deutsche bank recovered some of that $6 billion payment. what this had to do with is at the end of the day, banks figure out their processing claims. they did this, usually they are supposed to do it on a net basis. at this the point, they a junior trader did it on a gross basis. the next day the money was returned. the c.e.o. laid out on sunday night a total reshuffle. lots of musical chairs. colin was the head of the investment bank. he will be leaving. jeff irwin will be taking head of that, kind of revamped unit. lots of changes there. one other qui
here is hans nichols. ns, this is a pretty significant amount of money to send to the wrong destination for anyone. hans: i think that is correct. we have $6 billion. it was trovered next day. the financial times initially broke this story. we should give them credit. i want to show you what the receipt did when they reported it. this is one way to see what foreign things are doing. take a look at this when it was published. it recovered in the same way that deutsche bank recovered some of that...
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Oct 7, 2015
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hans nichols joins us number one. there are conflicting reports. r from the labor union representative on the work council on the board that he does not want to see job losses. he thinks they can withstand this without substantial job losses. they say it will mean pain, that may or may not mean job losses. mr. mueller said they will look at all planned investments, and what is not vital will be canceled or delays speaking to 20,000 workers yesterday. he said he would be completely clear: this will not be painless. a budget approved by the board last november, they are going through it seeing what is vital and essential. they could trim back a billion euro investment in a mexican plant. then you look at what they spent , 17.4 billion euros. same as volkswagen. -- are biggerl costs than what other auto companies spend, 16%. what we have is they will put their technical fix, and if it is approved will have a schedule for the recall. then, tom, we will have testimony on capitol hill. tom: i know you drive a ford mustang around berlin, but have we seen a
hans nichols joins us number one. there are conflicting reports. r from the labor union representative on the work council on the board that he does not want to see job losses. he thinks they can withstand this without substantial job losses. they say it will mean pain, that may or may not mean job losses. mr. mueller said they will look at all planned investments, and what is not vital will be canceled or delays speaking to 20,000 workers yesterday. he said he would be completely clear: this...
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Oct 13, 2015
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hans nichols is in berlin. hans, we're looking ahead to vw as well. the pros look at ifo. saying we should look at the ew? hans: it seems to be reflecting the negativity that we saw in july and august numbers. he is the concerning thing, if the zew numbers are right, the german economy is falling off the cliff? you saw chinese imports down 17% , even though the expectations were down to -16%. this is expectations, 16%. you look back to february, march and april, and i know you are in os.bles -- you were in davps readings.ove we get those numbers in about an hour. i am curious to see if they are going to be as negative as the economists are suggesting. jonathan: i am also curious. are you saying that the people are not concerned about the economy? that is fragile ground. vw.ardo dicaprio and what do those things have in common in this morning? -- it looks like there's going to be a book written. there is movie options purchase. we will see if it gets made. clearly we could have a lot of fun off air talking about who should be cast. we all have a role for anna edwards and gu
hans nichols is in berlin. hans, we're looking ahead to vw as well. the pros look at ifo. saying we should look at the ew? hans: it seems to be reflecting the negativity that we saw in july and august numbers. he is the concerning thing, if the zew numbers are right, the german economy is falling off the cliff? you saw chinese imports down 17% , even though the expectations were down to -16%. this is expectations, 16%. you look back to february, march and april, and i know you are in os.bles --...
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Oct 23, 2015
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let's get to our international correspondent, hans nichols, in berlin. governments be affected by this? hans: well, it will loosen tax revenue because the way tax revenues allocated is that it is based on land and a percentage of corporate income tax. if revenues are over down, so will tax revenues. they will have fewer people's working and fewer taxes to collect. when you take a look at the cities where they are built, they are basically company towns. that city south of berlin, 125,000 people, 60,000 workers from the city that are at the volkswagen plant. they have a budget freeze and they will be trimming about $19 million in projects from ice skating rinks in a variety of other thing. further down in bavaria, where they make audi, 40,000 of the town's 131,000 citizens work at the factory. another said has already talked about having a production shift, taking off one shift on the production line. all across abouty, it will amount to 3 billion euros in lost revenue. when you look at the one place where they make the diesel , 75,000 workers at that one
let's get to our international correspondent, hans nichols, in berlin. governments be affected by this? hans: well, it will loosen tax revenue because the way tax revenues allocated is that it is based on land and a percentage of corporate income tax. if revenues are over down, so will tax revenues. they will have fewer people's working and fewer taxes to collect. when you take a look at the cities where they are built, they are basically company towns. that city south of berlin, 125,000...
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Oct 22, 2015
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hans nichols is stand big in berlin. mercedes-benz overtaking audi. is is a great story, hans, isn't it? hans: it is especially good for you because i know what your preferences are. they are for luxury. last month daimler had the best month. they actually came in first, overall these numbers are impressive. they met expectations. profit was higher. however the stock is not reacting all that positive. earlier it was down and then climbed back up, in part because what we have going on with daimler is concern about the future. how much growth prospect is there? concern about the diesel industry. we caught up with the chrysler c.e.o. yesterday and here is what he had to say about whether or not diesel would be impacted. >> this last set of events indicated the government system inside volkswagen wasn't working and that things could happen unbeknownst to the leadership or at least with their involvement but it was a governance failure. now people are stretching into a failure of diesel or a failure of this. i don't think that is true. hans: the c.e.o. was
hans nichols is stand big in berlin. mercedes-benz overtaking audi. is is a great story, hans, isn't it? hans: it is especially good for you because i know what your preferences are. they are for luxury. last month daimler had the best month. they actually came in first, overall these numbers are impressive. they met expectations. profit was higher. however the stock is not reacting all that positive. earlier it was down and then climbed back up, in part because what we have going on with...
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Oct 26, 2015
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hans nichols in berlin, thank you very much.ropean story coming up later in the day. he italian foreign minister, speaks to bloomberg tv at 9:15 gmt. stay with bloomberg. let's bring in the head of equities at hartley's. great to see you. what a cracking start we have had to the final quarter -- we are a little bit lower this morning, london down 19 points, paris up by four. it is betwixt and between. it is a cracking start. do you believe in it? richard: if you look at the macros, what more would you like in terms of an o's mitts? -- announcements? we have the chinese delivering some further easing, later on this week it is unlikely the fed and deliver tightening obviously we have to pay and coming back. underneath that you have had a fairly bearish expectation in terms of earnings in the states and it hasn't just been textiles that have outperformed -- we saw the likes of microsoft, amazon on friday. even mcdonald's, which has been under pressure for some time these are prices that the market hasn't been too used to. in terms
hans nichols in berlin, thank you very much.ropean story coming up later in the day. he italian foreign minister, speaks to bloomberg tv at 9:15 gmt. stay with bloomberg. let's bring in the head of equities at hartley's. great to see you. what a cracking start we have had to the final quarter -- we are a little bit lower this morning, london down 19 points, paris up by four. it is betwixt and between. it is a cracking start. do you believe in it? richard: if you look at the macros, what more...
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Oct 15, 2015
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our correspondent hans nichols is in london. a very special day. great to have you here. am getting on a train to head to brussels. hans: i am getting on a train to head to brussels. ride with cameron, that is my advice. manus: what will be delivered over the next couple of days you hans: it is been shortened to one day. this is going to start in the afternoon. you technically are correct, manus. i think the important thing to look at is what comes out publicly from jean-claude juncker after. he has been quite critical. he says cameron has not been involved in the negotiation. it takes two to tango. i think it is important. chancellor merkel gave mr. cameron a little coverage. she says they are confident they can reach some sort of agreement. cameron-merkel dynamic. see if they can anchor some type of change. francine: this is tricky. if you are the european union, you say you don't want the u.k. to leave. we need to renegotiate. they also need to stick to what they call the red tape. if greek -- if europe is going to have roles, they have to stick with him. manus: there
our correspondent hans nichols is in london. a very special day. great to have you here. am getting on a train to head to brussels. hans: i am getting on a train to head to brussels. ride with cameron, that is my advice. manus: what will be delivered over the next couple of days you hans: it is been shortened to one day. this is going to start in the afternoon. you technically are correct, manus. i think the important thing to look at is what comes out publicly from jean-claude juncker after....
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Oct 12, 2015
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hunt nichols is standing by in berlin. hans, this has been one of the theseppressive issues on for quite some time, so this is a relief. hans: it is a relief but it doesn't mean the utilities are out of the woods. yes, you see the stocks up over 10%, but when you look at where they are on the year, eon is down 36% and rwe is down almost 36%. these stocks have taken a battering. what they've learned today is that their provisions along with another three companies, the 38 billion they have set aside to decommission their power plants, is going to be sufficient. that is according to the economy minister, sigmar gabriel. here's what he said in a statement moments ago. considered scenarios of high provisions improbable." he was referencing a range between 25 an 25 billion euros and 77 billion euros. on the outer and the economy minister is saying it is not likely to be triggered and all the stress test they are running, they think they will be in the middle of the range. the company said that these highly improbable stress tests we
hunt nichols is standing by in berlin. hans, this has been one of the theseppressive issues on for quite some time, so this is a relief. hans: it is a relief but it doesn't mean the utilities are out of the woods. yes, you see the stocks up over 10%, but when you look at where they are on the year, eon is down 36% and rwe is down almost 36%. these stocks have taken a battering. what they've learned today is that their provisions along with another three companies, the 38 billion they have set...
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Oct 6, 2015
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hans nichols is in berlin. give us the lowdown, what details are we know? at we know is that the new ceo addressed 20,000 employees later today. he laid it out for them. he said this would be a painful process. here is something that he said. we have statements they later concern -- confirmed. he said i will be completed clear. this won't be painless. that is why we are putting all planned investments under review. what isn't essential will be scrapped or postpone. they will be looking at everything. you look at the volkswagen group fromwhole, 12 grants bugatti, porsche, lamborghini. one thing is clear. they spend a lot more on research and development and their peers. dollars is their annual r&d budget. far surpassing their peers. you take a look at what they spend on personnel, employee compensation, a r 16.7% of their total sales goes to employee compensation. the union side has been hinting they don't want to see any executive bonuses. i think that is clear. i would be surprised if they saw executive bonuses. they are also wanting to say we want to stem
hans nichols is in berlin. give us the lowdown, what details are we know? at we know is that the new ceo addressed 20,000 employees later today. he laid it out for them. he said this would be a painful process. here is something that he said. we have statements they later concern -- confirmed. he said i will be completed clear. this won't be painless. that is why we are putting all planned investments under review. what isn't essential will be scrapped or postpone. they will be looking at...
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Oct 27, 2015
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hans nichols has more on the story from berlin. will kennedy is also with us.ilco -- will: super crude logic to make more modules. trading did well in. they have a big trading operation. they tend to do well in all types of markets. jonathan: that is bp covered by for basf, it is as much about the guidance for the rest of the year as it is for this morning's number. why are they cutting the outlook? china, lowerand oil prices. this is not a difficult formula. the question is by how much? the only guidance we have from them is the expect a slight decrease from 2014 profits. this gives you a sense of where they are going. -- that slumping oil led to lower prices for basf, that led to a 5% decrease in revenue. they came in well south of 18 billion euros. the estimate was 18.3. he came in at 17.4. that is a 5% decrease on sales. here is what the ceo had to say. he is expanding this in terms of the macro picture. here's what he said. "we experienced a pronounced summer low and no volume momentum in september. major markets like brazil are in recession are facing low
hans nichols has more on the story from berlin. will kennedy is also with us.ilco -- will: super crude logic to make more modules. trading did well in. they have a big trading operation. they tend to do well in all types of markets. jonathan: that is bp covered by for basf, it is as much about the guidance for the rest of the year as it is for this morning's number. why are they cutting the outlook? china, lowerand oil prices. this is not a difficult formula. the question is by how much? the...
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Oct 6, 2015
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jonathan: hans nichols not talking about greece. maybe because it is not on the radar anymore.ean financial ministers have told greece not to be relaxed. alexis tsipras told parliament he plans to ask for a loan extension and lower fixed interest rates. >> restoring financial stability , recovery of the economy and the return to growth, debt relief and radical reform of public administration while fighting corruption in bureaucracy are our direct government objectives. their implementation is the only safe way out for the country from the guardianship and bailout agreements. jonathan: let's cross over to athens and speak to marcus. is this a changed tsipras that we saw last night? times: this is the second that tsipras has delivered the leaders make up for election. he was talking about how the greek people gave him a mandate to rip up the bailout. this time around, he is talking about the mandate the greek people gave him to implement the bailout. the contrast could not be clearer. his priorities he lays out were getting past the first bailout review, restoring financial stabi
jonathan: hans nichols not talking about greece. maybe because it is not on the radar anymore.ean financial ministers have told greece not to be relaxed. alexis tsipras told parliament he plans to ask for a loan extension and lower fixed interest rates. >> restoring financial stability , recovery of the economy and the return to growth, debt relief and radical reform of public administration while fighting corruption in bureaucracy are our direct government objectives. their...
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Oct 31, 2015
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out and bring in hans nichols, international correspondent. the guidance not great, either. 2015 sales in line with 2014 sales. think the operating profit loss is that it is bigger than analysts is -- analysts estimate. more of these numbers are going to be trickling through every second. the numbers are important. we should take note of that. what would be more important is the conference call later on today. that is when the new ceo will get on. remember they have already set aside 6.5 billion in provision. solidtill don't have a idea of what this is going to cost them and what their technical fixes. the 1.8 and 1.6 of the decent engine. in some ways these have been bouncing around. not overly surprising. we basically got a good sense of where they are heading. still waiting to see what the october numbers. bit of marketttle share. about 1% in the european market. sales of audi and porsche, those are two profit centers for the volkswagen group. >> net income more than doubled. wall street estimates and the stock is falling. >> thank you for
out and bring in hans nichols, international correspondent. the guidance not great, either. 2015 sales in line with 2014 sales. think the operating profit loss is that it is bigger than analysts is -- analysts estimate. more of these numbers are going to be trickling through every second. the numbers are important. we should take note of that. what would be more important is the conference call later on today. that is when the new ceo will get on. remember they have already set aside 6.5...
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Oct 14, 2015
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guy: for more, let's bring in hans nichols. in london, and he is a former white house correspondent. he is now our international correspondent. a man of many hats. good morning, nice to see you. who won? guy: at this stage, you don't look for winners/ you look. losers. you want to make sure no one is dripping blood. -- if you have to put winner, maybe hillary. expectations were quite high. the extent to which it very went on offense against bernie sanders. this is bernie sanders playing defense for hillary. he is looking for an alive, part of his golfing that we should be talking about issues. thisenator bernie sanders: the american people are sick and tired of hearing about your damn emails. enough of the e-mails. let's talk about the real situation facing america. hans: hillary clinton did not return the favor. she went back and went for the jugular. she had a chance to take on bernie sanders and criticize them for his gun vote. here is what she said. anderson: is bernie sanders tough on guns? no, not at all. fact weto look a
guy: for more, let's bring in hans nichols. in london, and he is a former white house correspondent. he is now our international correspondent. a man of many hats. good morning, nice to see you. who won? guy: at this stage, you don't look for winners/ you look. losers. you want to make sure no one is dripping blood. -- if you have to put winner, maybe hillary. expectations were quite high. the extent to which it very went on offense against bernie sanders. this is bernie sanders playing defense...
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Oct 13, 2015
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to hans nichols. she is standing by. inflation, stagflation, the debate. earlier was a confirmation we had deflation at 0.2% for september. it was a confirmation. before we do the vw numbers, to the east and a look of china. exports a little better than expected. when you look at the imports out of china, why there's so much queasiness inside of germany. the imports falling off a cliff much worse than expected down 17% on the month and that brings us to vw. her current expectations and that is what we want to look at. that is taken a battering. all the way down to 12 percent last month. the survey expectation is 6% and the reading and just about two hours. a few months ago, february, north of 50%. we'll seen vw fall off a cliff. with not seen it happen -- we have not seen it happen with the ef survey. is just financial services. members get surveyed. we do see a bit of divergence but we have seen some negative numbers come out area i always want to say -- and pronounce it to the american and german way. i will yield to you guys because you are my social be
to hans nichols. she is standing by. inflation, stagflation, the debate. earlier was a confirmation we had deflation at 0.2% for september. it was a confirmation. before we do the vw numbers, to the east and a look of china. exports a little better than expected. when you look at the imports out of china, why there's so much queasiness inside of germany. the imports falling off a cliff much worse than expected down 17% on the month and that brings us to vw. her current expectations and that is...
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Oct 5, 2015
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let's go to hans nichols in berlin. strong words, perhaps warring words in -- worrying words from the chairman. hans: accurate words from the incoming chairman who likely later this week will be formally confirmed as the chairman and here's what he told the supervisory board. he said it's an existing threatening rise for the company. now, francine, we're learning more about what happened in 2008. and the engineers were presented and said look, the engines are claiming the annual of emissions simply will not work and at that point decided to have a software work around, not fix the fundamental problem or start from scratch which would have been a huge capital investment. now, we've seen several executives depart based on those revelations according to a newspaper. and we'll know more from the presentation that mr. poetsch gave to his committee and said they aren't disposing for any assets and don't look for porsche or buge oughty to -- bugati to be sold. they have concerned about the ability to raise debt and what effect
let's go to hans nichols in berlin. strong words, perhaps warring words in -- worrying words from the chairman. hans: accurate words from the incoming chairman who likely later this week will be formally confirmed as the chairman and here's what he told the supervisory board. he said it's an existing threatening rise for the company. now, francine, we're learning more about what happened in 2008. and the engineers were presented and said look, the engines are claiming the annual of emissions...
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Oct 15, 2015
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hans nichols, and not -- in london.y coming up after the break with the pulse and francine lacqua. that is it for me. if you want to talk market, you know where i am. i'm on twitter. equity markets snapping a losing streak. .8%.tse 100 is up it is dominating the discussion luxury.ld of burberry. good morning. ♪ francine: a luxury loser, burberry shares plunge. the company warns of lower earnings for a second straight year. manus: the bank of america swings into profit. the ceo brian monahan says jobs will go. francine: fed that fate. data from around the world sends the rate hike to a record low. manus: operation renegotiation. cameron heads to brussels to press his case for change. ♪
hans nichols, and not -- in london.y coming up after the break with the pulse and francine lacqua. that is it for me. if you want to talk market, you know where i am. i'm on twitter. equity markets snapping a losing streak. .8%.tse 100 is up it is dominating the discussion luxury.ld of burberry. good morning. ♪ francine: a luxury loser, burberry shares plunge. the company warns of lower earnings for a second straight year. manus: the bank of america swings into profit. the ceo brian monahan...
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Oct 8, 2015
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pimm: thanks very much, hans nichols. my thanks also to michael moore. the next 20 minutes of the bloomberg market day, why did the federal reserve decided not to raise interest rates last month? fedill find out because the market committee meeting minutes are out in just a few hours. hillary clinton is taking aim at high-frequency traders. how much will the so-called flash boys have to pay if mrs. clinton wins the white house? up, an interview with international monetary fund manager director. -- managing director. ♪ pimm: this is the bloomberg market day. i'm pimm fox. story, the uaw committee will decide tomorrow whether to recommend a new contract for its fiat chrysler members. unitedomaker and the auto workers tentative agreement earlier today. at oneon says significant gains and it also says it reached a deal minutes before a strike deadline. german authorities investigating the volkswagen emissions cheating scandal rated company facilities and the homes of several employees today. more than four dozen officials searched bw factories -- vw factorie
pimm: thanks very much, hans nichols. my thanks also to michael moore. the next 20 minutes of the bloomberg market day, why did the federal reserve decided not to raise interest rates last month? fedill find out because the market committee meeting minutes are out in just a few hours. hillary clinton is taking aim at high-frequency traders. how much will the so-called flash boys have to pay if mrs. clinton wins the white house? up, an interview with international monetary fund manager director....
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Oct 16, 2015
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hans nichols has been at the summit. the u.k. prime minister david cameron wasn't exactly his moment to reignite negotiations. but he took it. we do know that we will get a written list of demands within weeks. what will be on that letter? hans: if you have that letter, you would have much better sourcing inside westminster than either. this -- brussels dominated the first part of the agenda with everett cameron -- david cameron pledging that he would have a letter in three weeks. that puts us into november to start negotiations on what the u.k. is going to ask for. here is how mr. cameron put it before he explained it to colleagues. in the houses now of lords and the pace will now quicken and i will again be setting out the four vital areas where we need change, laying down what the changes will be at the start of november. we quicken the pace and quicken those negotiations in the run up to the november counsel. i'm confident we can get a good deal for britain and fix those things that need to be fixed. hans: after he explained
hans nichols has been at the summit. the u.k. prime minister david cameron wasn't exactly his moment to reignite negotiations. but he took it. we do know that we will get a written list of demands within weeks. what will be on that letter? hans: if you have that letter, you would have much better sourcing inside westminster than either. this -- brussels dominated the first part of the agenda with everett cameron -- david cameron pledging that he would have a letter in three weeks. that puts us...
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betty: that was hans nichols in brussels.ere, breaking news on the tech front. on twitter, e-mail and bloomberg news right now saying he owns a 4% stake in twitter. he is disclosing that he owns a 4% stake in the company. julie has more at the breaking news desk. there have been tweets coming from steve ballmer's accounts in recent days, there were questions about whether they were legitimate. it is unclear where this originated. bloomberg news asked whether this was accurate. apparently it is, indeed accurate. you see twitter share spiking on this news. as i watch on the bloomberg terminal, they are coming back down and bouncing around on this. coming from a depressed place when you look at a spike like this. the stock has been on reforming as of late on questions about where it will go from here. under the leadership of jack dorsey. i was also looking at the other top holders. williams, one of the founders, owns 6.8%. owns 3.2%. himself it looked like a bomb or when now become something like the six holder, the six largest
betty: that was hans nichols in brussels.ere, breaking news on the tech front. on twitter, e-mail and bloomberg news right now saying he owns a 4% stake in twitter. he is disclosing that he owns a 4% stake in the company. julie has more at the breaking news desk. there have been tweets coming from steve ballmer's accounts in recent days, there were questions about whether they were legitimate. it is unclear where this originated. bloomberg news asked whether this was accurate. apparently it is,...
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today we go to berlin to germany and to hans nichols. we have to talk about deutsche bank. this is big news overnight. hans: it is big news on two fronts. one, there is a balance sheet, the economic aspect, and two, there is the psychological and which is more important. let's do the first part first, and that is what they announce, 6.2 third quarter los s. they will have to write down the values with new capital ratios. they will have $1.2 billion in litigation costs. those are the numbers. no bonuses, no dividends. since 1957, the deutsche bank dividend has been reliable. it is almost a holy grail in germany. this idea of no banker bonuses, wow. here is my assignment -- stephanie, i'm going to send you to frank for. i'm going to send you to an audi lot and see if anyone is buying volkswagen made diesels after they do not get the bonus they were expecting from deutsche bank. it's a bad day for all german companies. more billionaires and frankford then london. city.urt is a rich stephanie: i may come out to visit. i spent eight years of my life at deutsche bank. it is a plac
today we go to berlin to germany and to hans nichols. we have to talk about deutsche bank. this is big news overnight. hans: it is big news on two fronts. one, there is a balance sheet, the economic aspect, and two, there is the psychological and which is more important. let's do the first part first, and that is what they announce, 6.2 third quarter los s. they will have to write down the values with new capital ratios. they will have $1.2 billion in litigation costs. those are the numbers. no...
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Oct 26, 2015
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let's bring in hans nichols. they are lurching to the right. how would angela merkel view this? ais going to lot of people she works with closely. he is from the opposite party. he was ejected in these elections. we have a little -- of nationalism. they campaigned against migration. there is a lot of economic populism. they are talking about increasing pensions. we have seen them we can on this a little bit. most of the calls out there are four expectations. weaken andy will there will be volatility. we expect to find that later today. the latest tally puts them at 232 seats out of 460. francine: we spoke to the italian foreign minister later on. this goes to the root of the problem. the selection in poland means bigger concerns for extreme parties in europe. hans: that's a possibility. in the mayoral contest and the end. you did not have the right wing party take the outright majority. they lost. they increased the share of the vote. we will have more elections. we will have more time to sort through this. there is a fair amount of economic populism. these sound a lot like gree
let's bring in hans nichols. they are lurching to the right. how would angela merkel view this? ais going to lot of people she works with closely. he is from the opposite party. he was ejected in these elections. we have a little -- of nationalism. they campaigned against migration. there is a lot of economic populism. they are talking about increasing pensions. we have seen them we can on this a little bit. most of the calls out there are four expectations. weaken andy will there will be...
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Oct 27, 2015
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on the base bit more f story, let's get to hans nichols. re going to cut the guidance and the burden from the economy and oil. this is what they are saying is going to hit them. on's: it iss a desk a great barometer -- hans: it is a great barometer. it is a pretty good currency play. a big miss on the revenue side coming in some 600 million less. on the other side of the story, they look like they beat estimates from 10 million. these numbers are crossing. outlook change for 2015, they have hinted at that before. remember they abandoned their 2020 gold. , a greatthis company german chemical country -- chemical company. a barometer of what is happening globally. take a look at some of the facts and figures. don't just think about chemicals. 113,000 employees globally. we are seeing the numbers. it willst said there eb be about the same as 2014. 1865 is when the company is founded. they are investing in their headquarters. they have been talking about that. we will dig into these numbers throughout the morning. they are good sales numbers but
on the base bit more f story, let's get to hans nichols. re going to cut the guidance and the burden from the economy and oil. this is what they are saying is going to hit them. on's: it iss a desk a great barometer -- hans: it is a great barometer. it is a pretty good currency play. a big miss on the revenue side coming in some 600 million less. on the other side of the story, they look like they beat estimates from 10 million. these numbers are crossing. outlook change for 2015, they have...
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Oct 16, 2015
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hans nichols joins us from brussels. where are we? this is europe personified. 24 hours of discussion, no deal. well, now we have more recriminations. we just heard from president erdogan and he is saying that europe is not acting sincerely. he says the cost is eight and dollars. angela merkel it was 7 billion. erdogan says it is $8 billion. angela merkel says it is 7 billion euro. theyhallenge is said that need to convince eastern european countries to let the money get out so they can have an arrangement and start distributing the refugees europe. listen to how she put it. chancellor merkel: in the sphere between -- the spirit of solidarity, it is only right for europe to think about how they can participate in this. read on what we just heard from the turkish president, they are driving a hard bargain. they want to have easier visa access, travel to europe without restrictions. a want to accelerate and restart their entry into the european union, and they want to have something concrete they could show their people. remember, there
hans nichols joins us from brussels. where are we? this is europe personified. 24 hours of discussion, no deal. well, now we have more recriminations. we just heard from president erdogan and he is saying that europe is not acting sincerely. he says the cost is eight and dollars. angela merkel it was 7 billion. erdogan says it is $8 billion. angela merkel says it is 7 billion euro. theyhallenge is said that need to convince eastern european countries to let the money get out so they can have an...