but dwek delivers and transfers the money to hsbc.t has been paid off. >> wire transfers, under federal or state law, are complete the minute the "send" button is hit. it is irretrievable. >> narrator: but dwek can't leave well enough alone, and the next day, he presses his luck. >> he goes to another pnc branch and tries to do it again -- another $25 million. >> the tellers there take it, are about to credit his account, and one of the tellers there thinks "maybe i'd better check this." she calls up the head teller over in eatontown. >> narrator: eatontown is the same branch that dwek had ripped off the day before. >> and the head teller in eatontown said, "is solomon in that branch?" "yes." "is he trying to give you $25 million?" "yes." "don't do it." >> narrator: like a trumpet of doom, the teller refuses the deposit. >> they were frantic at pnc bank, because this was not a small check-kiting scheme. this is $25 million that the bank is out right now, and they want to know where the money is. >> narrator: hsbc is not required to re

frederick joining us from hsbc research. there's no loit at the end of the tunnel as far as europe is concerned. everybody is very excited about what the ecb may do tomorrow. will we likely be disappointed? >> we think expectations are a little high in terms of the ecb, and for that matter the federal reserve. it's difficult to see them deliver game-changing action at this point. the ecb probably waiting for signals from policy makers, what their game plan is before they bring out big gun. same with the federal reserve, they probably want to see more data points until it swings into action. we think it's probably better to be cautious going into the next few trading days. >> we'll be back in a little bit for more. in the meantime, china's official pmi data differs from hsbc's private version but for economists the take away, the world's second largest economy may be hitting bottom. >> hsbc's pmi showed a slight improvement in activity while china underwhelmed. china's official pmi focusing on state-owned enterprises while hs

hsbc was a big drag on the hang seng. china's shanghai composite closed at its lowest level hurt by declines in resources and industrial stocks. we saw plenty of moments on big chinese place on the back of earns news. china unicom up sharply. it's a very different picture with bank of china. bank of china down more than 3.1% after earnings missed forecast. petro china shares down after closing a 6% slide in profit. meanwhile energy giant and coal company closed in the red ahead of their results announcement. markets expect a drop in its bottom line due to mining loss. >> now the u.s. may be eyeing a return to the gold standard. the ft suggesting the republican party will call for the creation of a commission to explore restoring the link between gold and the dollar. that's part of the platform the gop will adopt at next week's convention. the ft was told this is not an effort to replicate libertarian ron paul. what do you think? is at it good idea or is it even feasible. let us know if you want to join the conversation he

china is also down to a nine-month low according to the hsbc pmi.ort numbers slumping. >>> and the fed bank to take more action, coming up in the fed minutes that a move could be coming sooner lan thart. >>> and the pc giant a continued witness in both europe and china. >>> and if you just joined us state sides, a very good morning, welcome to global trading day. that's it. you got me on my own. kelly's away for seven trailing days. but she will be in the states streetside, you'll be able to catch her there. we are currently, the forecasts firmer on u.s. markets. dow 13,180. s&p 500, around 500. european stocks, mix data out of europe this morning. now after losses down two the last three sessions, the losses, the ftse up a quarter%. and dax up a tenth. and the ibex up 0.7%. and export records down. and compost pm i for the year or so, 49.6, 46.5 in july. we have seen also yields starting to crawl back up as a result in spain and italy. the spanish yields, 6.2. yesterday, 6.4. in italy, up to 5.7. the yields yesterday when we saw the ten-year rally

protesters in hong kong learn they'll have to relocate by the end of the month after a judge ruled hsbc has the right to clear activists out of a public space below the bank's headquarters. >>> atm marker ncr says it's investigating u.s. embargoes in syria through a subsidiary. >>> here at home the latest lundberg survey find the nation saw the two biggest two-week gas price hike this year with the cost of regular jumping 18 cents to an average $3.69 a gallon. >>> back to school season has barnes & noble slashing prices on nook tablets as it battles amazon's kindle fire. >>> if you're suffering from olympic withdrawal, maybe owning a piece of london 2012 history will help. that's right. more than a million items, everything from bean bag chairs to night stands from the athletes' village are up for sale online. >>> a runaway victory at pga championship and he already dropped the last name ochocinco but he may be losing the number. >>> one blue jay takes flight and robs a home run. urly morning sports headlines arstraight ahead. >>> a quiet start to the work week forecast. but tuesday i'l

ing and barclays and all of these british banks, including hsbc, have been dealing with iran for the past 70, 80 years. you know, the sanctions came about 1980. are they just going to fold up and leave shop? unlikely. could they have done it and handled it a little better? you bet. again, to classify as a rogue bank, the general public reads the headlines and panics. that's just the general public. but time and tide move on. once they've seen the fundamental of the business is strong, that they're posting fantastic profits, and they'll continue to do so, it's a sound business, look at the shares now and they crept all the way back up. so, i don't think the market and the retail investors will take that too hard. i don't think you're going to see a bank run. i think consumers know what happened, happened. it could happen again with anybody else. all in all, reputational dent, sure. big calamity, no. >> you're focusing on the share price. there's also just the issue of the kind of behavior standard chartered and many other banks were involved in. this kind of wire-stripping activity. t

excellent meeting of the commission secretary meeting that consists of manning -- members of planning and hsbc yesterday, and among the things handled at that meeting included an addition of some other sources or venues to announce the position opening, and we added some of those. we did discuss the future calendar. we set up a possible meeting dates in september and october, with a possible emergency meeting on august 22, which i will tell a little bit more. that is in relation to the fact we have yet to hear a response from the department of human resources to whom we had sent a letter above the signatures of president fong and chase asking for clarification of the position relating to salary level and other issues relating to the classification. we have not received any response, and we are concerned because we cannot move further on this process without a response from dhr, because the position of this cannot go out until the issue has been answered. we hope that will happen soon, and one of the reasons why we may have an emergency meeting in august of that has not been approved and have t

hsbc has the right to clear activists out of a space below the bank's headquarters. >>> atm maker ncr is going to investigate violations of doing business in syria. >>> here at home the latest lundberg survey says the nation saw the biggest two week gas hike this year with the cost of regular jumping 18 cents to an average $3.69 a gallon. >>> back to school season has barnes & noble slashing the prices on its nook tablets as it battles amazon's kindle fire for space in student's bags. >>> if you're suffering from olympic withdrawal maybe owning a piece of london 2012 history will help. a million items, bean bag chairs to night stands from the athlete's village are for sale online. >>> a run away victory at the pga championship. he dropped the name ochocinco, but now he might be losing number. plus one blue jay takes flight and steals a home run. >>> nice, quiet start to our work week forecast, but tuesday i'll let you know coming up. you're watching "early today." >>> good morning. if you're just waking up, this is "early today." in sports, as the summer winds down, major league teams

jpmorgan chase, hsbc, citigroup, and ubs are among those under investigation over a transcontinental interest rate fixing scandal. >>> after recently vowing to remove formaldehyde from its baby products, johnson & johnson is now including its adult brands neutrogena and aveno in that ban. >>> keep an eye on facebook. the so-called first lockup of post-ipo shares will flood the market today, freeing up insiders to sell additional shares for the first time. >>> and, finally, kanye west may disagree, but nike is under fire for this olympic-inspired t-shirt. critics say the gold digging logo is offensive to women. >>> well, coming up the rangers avoid the broom, an umpire gets a spike to the face, and another doping scandal in major league baseball. >>> plus, 75 years of u.s. defeat in mexico comes to an end. your early morning sports headlines are straight ahead. >>> and we're tracking the cool air coming through the middle of the country, and sooner or later it's going to go into the east. your forecast is coming up. you're watching "early today." >>> good morning. if you're just wakin

money laundering by hsbc. it seems like we should, but one of the things i saw during my time in washington was from the department of justice. i wor fewe're ever going to see accountability. >> tom: neil, a fascinating recount of what you lived with the tarp bailout four years. neil boroskey, the author of the tarp bailout. >> susie: coming up tomorrow on nbr, as we've been reporting, as the fed wraps up a two day meeting will it take action to boost the economy. we'll get a take on the fed and the upcoming meeting of central bankers in europe. and olympics are underway in london, and along with the games is controversy about the coverage. tonight's beyond the scoreboard. we look at the impact of nbc's decision to delay olympic programming for prime time in the u.s. here's sports analyst. >> this is the ticket for women's gymnastics. most of america watchs on prime time, but a few hours ago -- i already know the results. i was there, and that's the core of the problem for nbc. it started four years ago where

jpmorgan chase, deutsch bank, ubs, citigroup and hsbc. what we're hearing is they're looking to evidence of collusion with barclays which has been fined around $450 million on the back of this scandal. we're hearing that they are looking for evidence, so in essence they can criminally prosecute standard chartered shares. down by .75%. the bank is looking for a collective settlement, bearing in mind yesterday it agreed to pay a $340 million fine to new york's financial regulators. on the basis of accusations of allowing money to go through the u.s. from iran. we know that there are other u.s. authorities that are still looking into this particular situation. the ratings agencies have weighed in. we've got s&p saying they won't change their ratings on the bank, but they are monitoring developments. moody's characterizing the settlement as a positive credit development in terms of the impact on the share price, but says it is going to be watching the ongoing situation very, very carefully. the markets looking a little mixed this morning. >>

>> we're getting very, very close to it, because the economy is at plus one, negative one and the hsbc purchasing managers ineconomy shows not only the direction of the economy, late spring surplus to start showing up. august looks like it will be worse. and i thought maybe a dead cat bounce the fourth quarter, but the cat just looks dead. stuart: can't they just spend more, a foreign reserve, 3 trillion dollars. can't they spend some of it? >> they're trying to spend, but don't have money, they're running out of money in china. and if they've got 2.3 trillion dollars in foreign exchange reserves, but in a local currency crisis, foreign reserves don't help that much and remember that the central bank's foreign reserves are balanced almost by the recommis reflective of an external problem namely europe in recession, slowdown in the u.s. and almost everywhere in the world? >> europe triggered the problems last august and september and started showing up in the export belt in china, but the problems china had are structural. it was going to happen sooner or later, it might not have been e

hsbc has won -- a judge has ruled that the activists must leave on august 27, ending one of the longest running occupied protests. about a dozen activists have been living on a large open space on the ground floor of the building. protesting against widening inquality. the indian guru who staged an anti-corruption protest in deli has been detained. he's campaigning for the recovery of suspected bribe money allegedly held overseas. the u.s. president barack obama says mr. ryan was a decent man but with a vision fundamentally at odds with his own. the pick appears to have reinvigorated the party's conservative base. still to come, we're back at the olympic park as thousands of athletes and sport staff head home and the big cleanup begins. the mayo of rio was at the closing ceremony to receive the olympic flag from the president of the i.o.c. rio is hosting the 2016 games. preparations of course well underway. the bbc's report andy moore caught up with the mayor. >> every character stamps its characters on the olympics, what is rio going to give to the world in four year's time? >> it will

protesters in hong kong learned they'll have to relocate by the end of the month after a judge ruled hsbcs the right to clear activists out of a public space below the bank's headquarter. atm maker ncr says it's investigating an alleged embargo of doing business in syria in the civil war torn country. at home the latest lund burg survey shows the cost of regular jumping 18 currents to an average $3.69 a see sochblt barnes & noble is slashing prices on its nk tablets as it battles amazon's kindle fire for space in student's bags. if you're suffering from olympic withdraw, maybe owning a piece of london 2012 history will help. more than a million items, everything from bean bag chairs to night stands are on chal. >>> he already dropped the name ochoa sin koerks but now might be losing the number. one blue jay takes flight and robs a home run. your first look at sports is straight ahead. you're watching first look on msnbc. customers didn't like it. so why do banks do it ? hello ? hello ?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello ? ally bank. no nonsen

. >> the number of regulators is being raised with all the banking scandals like hsbc. barclays bank has to deal with 500 different regulators around the world as a. >-- as a global bank. facebook, fears of an even bigger selloff possible today. >> it's possible. the facebook share price since it went public three months ago has really been under pressure. it could come under pressure today. let me explain it. thousands of companies and individuals who work or invested in facebook before it went public, there were given shares. under laws and market regulations, those people voting shares before it goes public are not allowed to sell those shares until at least 90 days after the company goes public. the thinking is you don't want to flood the market with too many shares because that would bring down the share price. three months ago, if you bought a facebook share, you would've paid $38. now it's worth $20. >> that is nearly half. >> 46% loss in value. the concern is 1.9 billion shares that all these people and companies are holding that have not been sold. if they star

just standard charter, we've seen a string of banks behaving badly recently, the barclay's case, and hsbc is said to have been vfed in laundering money, and now this. at times like this people feel maybe it's time for some tougher and more regulation. is that the solution? >> it isn't. there are lots of regulations, and you can see they got standard charter with the regulations we currently have. so there are plenty of laws on the books, there are plenty of mechanisms that law enforcement has and the regulators have to bring these banks into compliance. but the problem is you have a case like this, they really went around the regulations, they actually apparently faked information on wire transfers in order so that the regulators could not find it so easily. when you have a bank doing that, it will be very hard to track them down. >> susie: you heard a conversation just a moment ago about investor confidence, and in a case like this it does undermine investor confidence and trust in the banking system. what do you think has to be done to restore that trust? >> well, hopefully if the publi

lowest rated cards bank of america, ge capital and hsbc. and while capital one is popular because of its double miles program, the card itself is not a favorite. coming up in the lower third of the pack despite the commercials that say what's in your wallet. for more my reports go to abc2news.com and click the mornytab up top so you don't waste your money. john matarese abc2 news. >>> all right. you remember getting a allowance for doing your chores mine was a quarterp today kids are raking in the dough the average 780 dollars a year. that breaks down to 15 bucks a week. and the new survey says 61% of parents pay an allowance and most make kids earn it with chores or grades but only 1% of kids save that money. financial experts say that means parents are not talking to their kids about financial responsibility. >>> now, maryland's most accurate forecast. >> after a pretty decent day around here cloudy and tonight we have more of the same. partly cloudy skies. and quiet weather, rain free for the moment. that could change easily tomorrow aft

and joining us now is managing director and head of investment strategy asia, hsbc private bank.o you still think the rba is staying ahead of the curve by staying on hold? >> well, definitely ahead of the curve. in fact, they ad mamitted as mu in the statement that came out which basically said that the economy was showing some signs of revival, particularly the domestic sector, business lending was up as well as in the housing sector. you saw some firming in house prices, et cetera. that was the excuse for them not to cut more aggressively. having said that i think going into the fourth quarter the year they've given themselves enough space to cut perhaps once more if the global economy were to weaken significantly ahead of the concerns of the fiscal cliff, et cetera. >> is the global economy going weaken significantly further from here? >> well, i think this issue of the fiscal cliff in the u.s. is definitely inhibiting business investment in the united states from the ism numbers and all these other indicators we look at. that else seems to be case. if you look at consumer spe

hsbc is under investigation by a number of u.s. agencies for possible sanctions in antimoney laundering violations. that's quite a list. joining us for more on this story are simon nixon, european editor of european wall street journal and mark oswald, strategist at monumental securities. simon, first to you, we rattled off all these uk banks, global banks, part of this probe. is this developing into a u.s./uk fight? gli don't think it is. first of all this accident is an antiiran issue standard chartered walked into here. it's about u.s. foreign policy in the first place. clearly, and obviously it's not just the uk banks. you rattled off swiss banks and dutch banks. this started with abn amro in 200 was the first bank where there was -- where this issue of u-turning, trying to clear iranian transactions first came up. i think this is -- it's evolving into a u.s. versus uk spat but that's not where it started. >> editorial saying maybe they should take a look at u.s. banks. do you think that's overdone? >> there were regulatory lap

datawise, expect markets to react to hsbc's preliminary results from china. asia earnings from bank of china, china minsheng and ping an insurance. >>> heineken is scrambling to seal the deal in singapore's apb. which is in the best position to win the emerging markets race? ddd#1 >>> welcome back to the program. well, who is the most powerful woman in the world. how do you even define such a thing? "forbes" is releasing its list of the most powerful women today. last year german chancellor took the number one spot, angela merkel. two years ago it was michelle obama. who would you name this year? e-mail us worldwide @cnbc, tweet at @cnbcwex. >>> meanwhile, american platinum confirmed anglo sooez wage demands. jpmorgan reduced it from underweight to neutral. also, lowered its price target. at the same time, they could issue new shares to compensate for production and revenue losses incurred by strikes at its south african mine which has left 44 people dead. lonmin says they are doing all concerned to boost -- >> it's total speculation. >> total speculation. an

rbs and hsbc were sent request for documents.up and ubs previously disclosed they were being investigated. >> still to come u.s. retailers deep into the key, back to school shopping season. are consumers willing to dig into their wallets and spend. we'll bring in an analyst to talk about the health of the sector in just a few moments. > >>> hello and welcome to today's edition of worldwide exchange." . i'm kelly evans. >> i'm ross westgate. these are your headlines from around the world. . >> second largest retailer expected to announce revenues. >> cisco report better than expected revenue. still pretty cautious on europe. >> samsung ratchets up the tablet war launching its new galaxy note on three continents. judge calls for peace between korean tech giant and apple. >> china may gentlemen paradise the -- jeopardize their 10% annual trade target. >>> let's check in on u.s. markets this morning as we gear up for topping. green arrows across the board. not huge moves. dow jones industrials average implied to open higher by ten po

new york officials have subpoenaed ubs, deutsche bank, royal bank of scotland, jp morgan, citigroup, hsbc, and barclays bank over the past several months. barclays was fined $453 million by u.s. and british authorities for its role in fixing libor in june. but the justice department and the attorneys general of new york and connecticut are conducting investigations. a federal probe into the failed commodities and derivatives brokerage house mf global is unlikely to result in any criminal prosecutions of top executives. and a file -- mf global filed for one of the largest bankruptcies in american corporate history last year with almost $40 billion in liabilities. regulators later discovered up to $1.2 billion in customer funds that should of been kept segregated were missing "the new york times" reports from as the gators have concluded that losses were due to mistakes rather than fraud. jon corzine, who headed mf global, would be among those to evade prosecution. raging wildfires across parts of the western u.s. have forced hundreds of people to evacuate their homes. the fires have swept

a senate panel accused hsbc of bypassing sanctions by laundering money with financial drug cartels.is this affecting our relationship with our closest ally? elise, what's the british government's response in this is a huge bank and an important policy issue for the united states. >> and one of the most important foreign policies for britain. the official line out of london is that this is very concerning, they'll be looking closely not just at what the investigation reveals, but also what standard charter's explanation of what eventually comes out of it. but in their very british way, this is their way of saying they're very embarrassed because as we know, this is the u.s. and the british have been working very closely on really effective sanctions, really tightening the financial squeeze on iran. so what the british are saying is, listen, this is not a case like china or some other country that's willfully looking other way while their banks do business with iran and other rogue nations. they're really saying that we're not going to be looking the other way and we'll be taking this

and among the banks receiving subpoenas, jpmorgan, barclays, ubs and hsbc. >>> the 911 tapes from the sikh temple in oak creek, wisconsin, have been released. and the audio is nothing short of chilling. you can hear what it sounds like when the gunshots in the background are going off. >> yes, milwaukee sheriff. hello, can i help you? >> i'm calling from 7512 south howell avenue. there is shooting. >> okay. >> there is shooting in this. >> okay. did anybody get hit, sir? did anybody get hit? ma'am, sir? >> there is shooting. >> sir? >> there is shooting. >> sir, i understand that. did anybody get hit? hello? >> we also learned today one of the shooting victims has now been released from the hospital. there are two others that remain hospitalized. one of them is in critical condition. and another who's a police officer is in satisfactory condition. >>> to the number now, it has been 377 days since the united states lost its top credit rating. what are we doing to get it back? the data out today shows that higher food prices were offset by lower energy costs, keeping inflation flat. in

hong kong has ordered occupy protesters to abandon their encampment outside the bank headquarters of hsbc by august 27. activists having camping at the site since october. brigadier-general tammy smith has become the openly gay officer of fly greg wright, the first openly gay officer a flat rate in the u.s. military. on friday, smith came out when she had her wife and her star to her uniform during a promotion ceremony. this is "democracy now!," democracynow.org, the war and peace report. i'm amy goodman. we begin today's show with the latest news in u.s. presidential race. on saturday, republican presidential hopeful mitt romney announced congressman paul ryan of wisconsin would be his vice presidential running mate. ryan, now 42, was elected to the house of representatives at 28. he is chair of the house of representatives budget committee. ryan spoke in virginia right after his selection was made. >> i asked by governor romney to serve the country that i love -- [applause] jams built, wisconsin is where i was born and raised and never really left. it is our home now. for the last 14 ye