we think j.p. morgan is another investment people can own. >> yes or no will rising interest rates help these banks? >> near term absolutely yes. you want to own the banks going into the first fed fund's rate increase. >> gerard cassidy with rbc capital markets. >>> well 2014 was a good year on wall street. the avrnl bonus rose to nearly $173,000 according to new york's comptroller's office. as the securities industry added new jobs for the first time since 2011. the increase came even as financial industry profits fell slightly. the overall bonus pool over $29 billion. >>> back to stocks now which were lower for the second straight session. the concerns are familiar ones. the dollar's strength and the outlook for a possible fed tightening and by the close, the dow industrials were off by 27 points to 17,635. nasdaq down about 10 and the s&p 500 off almost 4. as for oil, west texas intermediate moved lower after inventories hit a new record high but brent saw its first gain after five days of losses. >>>

. >> we look at it at j.p. morgan. they are trying to shrink the debt level and we have the issuance. it was more than one trillion compared to 3 trillion. >> we will go further in the next section. the prime minister vows no surrender to creditors. he is running out of options. that is coming up next. we await unemployment figures. we will have a reading in the u k and eurozone unemployment. we bring you that data throughout the morning. on the move is back in two minutes. anna: welcome back. in london. this is on the move. the prime minister told the parliament that he is trying to stop the bleeding in the country. he sent a list of reforms for european creditors. april could be the cruelest month. let's get to the development in athens. trying to find some support. >> the lawmakers were opposition lawmakers and found plenty to fault. it was a noisy and confrontational session that lasted until athens time. >> the greek government has to respond and there are reform proposals with people we spoke to. they were unimpr

j.p. morganuity folder manager. lisa abramowicz and of course matt miller. taking a look just at the stock market now, is there anything more than buying the dip in the last few days? jeff: you look at the news and it continues to be good. i think it is messy and that is one of the challenges. you have to start looking. we have been told not to spend the gas savings just yet. matt: i have got to think the retail sales number gives you an opportunity if you are bullish. you know they're saying -- saving money at the pump and they will now go out and sent -- spend more when the so when the snow melts. alix: not if you are in the oil market though. a whole different story. lisa, we saw a lot of volatility happening according to the retail sales and the rally in stocks trade what did you make of that? lisa: retail sales were weaker than expected and researchers were saying, when will we finally see the advantage to him are consumed -- consumer getting savings? it does not seem to show up. is it more

he is a former colleague of jamie dimon at j.p. morgan. it is not just that peter sands is out, we've had a various -- a pretty big change in various high-level positions. this might mean that bill winters is able to reshape the strategy at the company. crucially, some investors are pointing to his credibility with regulators. apparently, he comes with some political mouth which is pretty important in the current regulatory environment. standard chartered rubbed the wrong way against u.s. regulators in its dealings with iran. that story might not be entirely in the past. interesting to me is what bill winters has been doing since 2009. he's been writing government-sponsored reports on the u.k. financial system and working with the bank of england on that. he has a lot of experience in dealing with regulators. perhaps he can play a little politics. that seems increasingly important. francine: thank you so much, anna edwards. guy: let's stay with the banks. u.s. prosecutors have asked barclays to provide more information related to an electr

let's instead talk the john bilton from j.p. morgan asset management.he failings of modern technology. let's talk about greece. is this playing out in a worrying direction for you? are you managing to keep your concerns contained? john: the thing to remember about anything to do with eurozone, whether it be monetary policy, political policy, it is all about keeping the sides talking. the positive is that the sides are talking. greece does face a crunch in terms of its current financing bailout package. it is about 7 billion euros available still in it. runs out sometime during april. certainly, there is a pinch point coming up. the negotiations are in play and we are reading a lot about how german politicians are becoming a harder line against greece. at the same time, we are seeing some suggestion that there could be minor concessions coming through to keep greece on track and keep negotiations going forward. i think while they are talking we remain reasonably comfortable. anna: is that the market's working assumption, that if greece stays in the euroz

itook a powerful banke j.p. morgan, to endhe 1907 panic. should an entire country be dependent on an individual's whim? a central bank a lender of last resort, seemed better sotion. just before christmas of 1913, esident wilson sigd e feral reserve act. it created a federal reserve system. though its real operating powers resided in 12 regional banks its official headquarters was in washington, d.c. merritt sherman, active with the fed since 1926 describes one of its early tools to regulate banking activity-- the discount rate. that was the first tool used whenhe fed was created the discount rate being the rate that is charged to member banks when they need to come in toet additional reserves. and it is raised to restraitheir borrowing, lowered to encourage their borrowing. through world war i, through the roaring twenties most bankers believed the system was safe and went abouttheir business. then one day it all came tumbling down. october 24, 1929, the greatest stock market crash in history marked the beginning of years of economic devast

for others, it was a bit tougher because j.p. morgan morgan stanley have to revise the proposals. erik schatzker covers the banks for us here and he will be digging deeper into these stress tests on his program. i am curious to hear what your biggest take away was. erik: my biggest take away is that it is not such a bad thing to take your best swing and miss because that is what j.p. morgan and goldman sachs and morgan stanley did. we have come into these stress tests with the notion that if the fed says no to anything, that is bad. that makes sense. you don't want to be told no by the fed. what these banks did was make aggressive proposals or aggressive requests to raise dividends or buy back stock and were told by the fed that is too aggressive please resubmit. what you can do -- that is called the mulligan. they got the initial stress test results. the fed came back to them and said your dividend and buyback requests are too aggressive. come back with some to nelson. the key is the fed gives them guidance a when you make resubmission

j.p. morgan citigroup, bank of america, goldman sachs, morgan stanley that have a lot of exposure to capital markets. there was a new test that put a new strain on the capital o markets that brought some of the capital levels down. it could see something where the banks wanted to give back for more money. they don't want it to be predictable. they want banks to have a safe enough balance sheet that no matter what happens, their thank you so much kayla tausche. >>> costco announces a surge in profits and that's where we begin tonight's market focus. wholesale giant's numbers related to a taxes because of lower fuel prices. the revenue was slightly below estimates but same store sales rose more than expected. the stock almost 3% higher today, finished at $151.17. kroger announced a big pop in earnings. grocery store's quarterlies. full year outlook topping views. shares up almost 7% to $74.31. comments from boeing's chief financial officer told investors that cash flow levels will rise in coming ye

the company also said it will not spend off its food unit and hired j.p. morgan to hire on strategic for regions. fell more than 15% after the close but rose a fraction during the regular session to $59.64. >> people are changing the way they shop. not just what they buy, but how and where they buy it. and that is creating big challenges for some of the country's biggest consumer companies. sara eisen >> it's fast. it's easy. it's fast. it's convenient for me. >> reporter: when it comes to buying the basics more and more people are turning to their computer. like christie spears who rarely steps foot in a store these days. >> now i can pretty much shop for anything online. still shop for clothes but definitely use it for household items, cleaning products things we just regularly use in the house. >> reporter: the latest data from consumer edge research showed so-called consumer products are now tied with media. think online books and movies as the second most popular category bought online. number one is apparel. and while most of the population still buys their

j.p. morgan's kate moore, the tech heavy index is driven by profits more than hype. >> we actually think that tech earnings are much more stable than they've ever been before. and in fact in 2000 and kind of like a 15 years ago, it was a completely different sector without earnings and i think a lot of hope and optimism behind it. this is a real fundamental story and actually, tes one of our biggest in portportfolios. >> reporter: the nasdaq trade more than 20 times earnings. not much higher than the s&p 50018 price earnings ratio. in part because of diversification. like walgreens and anthem now live here alongside tech juggernaut apple. though there's one sector some worry might be frothy biotech. the nasdaq biotech etf up more than 20% this year, its outsize offed gains matched by triple digit valuations. >> we've seen an incredible amount of money flowing into biotech. it's going to continue to flow into the biotech sector and i think will continue to be the driver of the nasdaq. >> reporter: overall, small cap stocks have also seen strong gains helping to drive the nasdaq higher. >> smal

there has been whistleblowers at j.p. morgan chase and other places.sn't the attorney general calling you guys and following up on this? the clock is ticking. richard: i have no idea, bill. i have not talked to the department of justice in over a year-and-a-half. quite frankly, when your article appeared on me in september of 2013 i was in the process of talking to them and they cut off all contact. i have not heard from them since. stephanie: you were a whistleblower against citi. you are representing the american people, looking for justice. the department of justice is not calling you. what are you doing? richard: quite frankly, i am so upset about this, i instructed my attorneys in washington to send a letter to two congressional committees. both of these committees have oversight responsibility. in fact, this letter was mailed yesterday. they should be receiving it today. in this letter, i specifically related my experience with the commission my being forced to remove testimony that i gave them. let me give you one example. i spent an entire page

. >> an upgrade from j.p. morgan with a higher price target of $58. j.p. expects citigroup will have its 2015 capital plan approved. also, analysts mentioned a credit card agreement between visa and costco will add to revenue growth and return on assets. that stock up by half a percent. this is on release that the latest macau gaining revenue -- of course, you have the chinese president's anticorruption campaign keeping things the way. soviet figures came in better than estimated. keep in mind all of these names have fallen between 23% to 43%. speaking of casinos, all 4% of its revenue from the united's date states stumbling for one casino group. betty: thank you so much. scarlet fu. russian sanctions. exxon mobil expanded its russian oil holdings last year even as the united states and eu force the company to shut down drilling in the arctic. exxon went from having 11.4 million acres in russia to now nearly 64 million. alix steel joins us now with more. what does this mean that they have expanded? >> huge shout out to carol who broke the news on this part

a former j.p. morgan chase executive is invading the world of virtual currency.he ceo digital asset holding. the startup company plans to use bitcoins for settling asset trade. planning to cut jobs, up to 2200 of them in sweden. part of a cost-cutting plan improving profitability. the company wants to save $1 billion over three years. those are your top headlines. senate republicans say sanctions against iran have worked in the past, why not try them again? they are defending a controversial letter they sent to iran. the letter warned army leaders that any nuclear deal they made with president obama could be overturned once he leaves office. mitch mcconnell says the republicans simply fear the president will make a bad deal. mitch mcconnell: to make a deal with one of the worst regimes in the world without any congressional input leads you to believe he will make the deals we all fear he will make. matt: finance leaders are at boca raton right and betty liu is down there with them. the fia international futures industry conference. betty is joined by tim massad.

yesterday we reported j.p. morgan chase was reported 45 billion. the ceo is under pressure from regulators to shrink the company. verizon the latest company to go after corn cutters. a mobile tv service could launch as early as june. the person familiar with the top says verizon has secured streaming rights and offering each of the four major broadcasters. now to the lead rhapsody making its music available to twitter users including 32 million songs . the first is extremely service that lets the -- that people listen to a full license library within twitter. anyone who opt to listen will click on a link back to rhapsody. this is going to be a game changer for the music industry. the interim ceo joins us right now from austin, tex thias, which is a little better than rainy seattle area districts me as a big deal. the inventors of twitter jack dorsey and others wanted to share musical stuff. now you're giving away to do it. let>> absolutely. it is amazing the new streaming services that exist. everyone can listen on headphones. kind of a lonely expe

jonathan: going forward, i look at the j.p. morganing markets fx those story has been both in oil and a dollar story. going forward for you, bet against the turkish lira. which one are you acting on -- betting on? betting to go stronger? roxana hulea: umm. i would be -- umm -- i would be -- i continue to -- for the short run it is a short for me. a position i would revalue over the midterm because assets present a good evaluation at this point. that's for now, definitely a bearish position. jonathan: roxana hulea emerging markets strategist. we will talk a stock on the move after it beat sales numbers. the fit a straight quarter -- the fifth straight quarter for sainsbury. we will talk about that after the break. ♪ jonathan: welcome back. this is "on the move." polls open for israel's general election. the most recent survey suggest it is too close to call. some postseason netanyahu trailing the opposition leader. both fall short of an emergency. results will be announced on thursday. bank of japan kept at their stimulus the same. ban

but forcing j.p. morgan, and marrying anto-- listen to my reports 3 times a day on salem radio network. lou: two civil right group that are normally allies are engaged in a political battle over schools for immigrant latino groups' to dedicate two public high schools in suburban washington to non-english speaking students but local naacp chapter objects saying it would unfairly pull resources from other students and redistribute them to hispanic students naacp local important president'sing this is a slap in the face, it risk turning prince george's county into a segregateed school sim. >> separate but equal. i thought we resolved that? 30-year old model sarah stage facing a lot of negative backlash after showing off her 8 1/2 month pregnant bello belly on-line on-line. her on-line post stiring up a great deal of heated debate. but stage is not letting criticism get to her, she put on about 20 pounds, doctors say her baby is healthy that is all that matters to her. as it should be. up next. a budding rivalry

the department of justice has announced j.p. morganhase will pay $50 million to 25,000 homeowners who were or are in bankruptcy as part of a settlement deal. the bank will also make changes to its internal operations and submit to an oversight by an independent review. in belgium, hundreds of taxis jammed the streets of downtown brussels, protesting the planned reform that could lead to the legalization of online at ridesharing services of, you guessed it, uber. they say it would be destructive to their business. the race to win digital payments is on as competition between paypal, google and samsung heats up. yesterday, digital payments company paypal agreed to acquire a startup that develops mobile payment operations and customer loyalty programs. is that enough to give paypal the edge? bloomberg's brad stone spoke with paypal's hill ferguson to find out. >> they've built this incredible platform that allows merchants to build custom mobile experiences on top of their own data. one of the exciting things about mobile payments, bringi

. >> the portfolio manager at j.p. morgan asset management tells us why he is overweight on japanese equities. >> we have seen slow, tentative signs of the economies doing better. we like japanese equities. liquidity across that region. we know that the bank of japan will possibly ease more down the line, if needed. we main overweight japanese equities. the third arrow, many more things to do. again, like the eurozone, it looks relatively optimistic. >> china's exports have seen a massive boost soaring 28% last month. let's bring in and occur in -- enda curran. what is driving this question mark >> strong economic recovery is driving exports from china and japan. because the chinese new year fell in february exporters ramped up production. that is why we see a big jump. >> last year, we saw a big slide downward as china clamped down on export numbers. those were some shenanigans they were trying to keep control of. >> they have tightened up on that now. >> and if you take a look at january-february, on average, it grew 50%. t

the moment of justice announced the jp -- the department of justice announced j.p. morganhase will pay back homeowners who were or are in bankruptcy. it will also make changes to internal operations and submit to oversight for independent compliance review. in belgium, hundreds of taxis jammed the streets of downtown brussels. they are protesting the planned reform of the taxi industry, which could lead to online car services like uber. they claim it would be destructive to business. the race to win digital payments is on, and heats up. paypal agreed to acquire something called paydiant. is that enough to give paypal the edge? redstone spoke with hill ferguson -- brad stone spoke with hill ferguson to find out. >> it's an incredible platform that allows merchants to build custom mobile experiences on top of their own data. one of the exciting things about mobile payments is it brings to bear not just the payment part but also the ability to integrate loyalty, coupons rewards. paydiant built a perfect platform to help differentiate stores. >> paydiant was working with walma

late -- the latest cybersecurity bill takes a step forward after hacks of exeans like sony and j.p. morgan chase. they voted -- the committee passed it and it will encourage companies to share information. peter cook joins us now. talk to me about what happened to this vote. 14-1 sounds like it's bipartisan. what are we going to hear? peter: it is bipartisan, and that vote total is a big deal here in washington. this is a significant step forward for this bill. we've been fighting here in washington over cybersecurity legislation for several years now. democrats and republicans agree there's need to bolster the nation's digital defenses but haven't been able to agree on a bill to do that. this bill may be the single best chance in some time to be able to do that. this vote reflects that. this bill would allow the private sector to share threat information with the government in realtime and vice versa. the government could share information with companies and there would be legal protection for the companies for the first time. that's the single biggest component for this bill for the busi

prolonged absence of impact by barns suddenly put j.p. morgan on the rj cover and guns the stock. how cool is that. can't send up jpl if you don't take the rest the group. i think the bank rally unlike the tech rally, the bank rally will be short lived. fantastic while it last. then netflix news that general council of microsoft is joining its board of directors. for years i have said microsoft should start buying up netflix, i think is a positive sign for the stock taking the world by storm. will microsoft acquire them yes if they want to the see stock go higher. most likely. this market is willing to zrap late war impact on earnings. -- this coalition is no longer counting on the u.s. we are throwing in our lot with iran. these rich countries with the exception of eeg up the will have to arm themselves. this is part of new orderers like our defensive coordinator contractors are getting from u.s. allyal allies that no long trust the u.s. to be the world's policeman. i can't recall a day where everything positive moves the stocks. i said it was driven by two streams of money. on t

back to cronyism statement, her biggest donation from goldman sachs back, j.p. morgan, and citigroup, she will have a hard time selling this pop limp that works well for warren but it is hallow for a millionaire. i am say that caroline, one thing i like about senator clinton, she is pro fracking are you with plea? >> you know, he is by and large, environmently she does win liberal issues, she was against the artic drilling he takes steps and acknowledges crime changes real and human made. certainly, she appeals to liberals more than to moderate democrats, she is not going to have an issue with the liberals, you know kennedy, i do -- >> she is not going to have issues with liberal in democratic party. >> none. kennedy: she -- okay, address this, and you can take this if you want, she wanted to invade syria, and arm god knows who in syria. she is as hawkish as john mccain, when john mccain talks about hillary clinton in a match up versus rand paul you is see his face flush with excitement they are hawkish peas in a pod. >> she is. kennedy: that is not problematic. >> it

morgan stanley topped j.p. morgan with revenue up 15% over it's rivals. a look at the banks.t investors were pressuring yahoo! to cut costs and return more cash to shareholders. the latest move to fend off the critics, next. >>> it's your favorite time of the week. do get in touch with us and tell us who you think wins this 30 second versus 30 second debate. i'm going to kick it off. my chart of the week is oil prices. wti up 8.3% on the week despite a 2% fall today. so the oil route is over. it's done. the supply side issues have gone away. that's what this chart might suggest but i don't think this is the full story of course. this is a geopolitical rise in the oil price. particularly the move on thursday with the saudi backed air strikes on yemen. the question is will the oil price stay elevated enough for long enough based on geo mitt cal issues to make supply and demand decisions change in particular in the u.s. at the moment we're looking at an 8% gain in oil prices this week. will it last? >> oil has been a concern or focal point for investors for many months now. this

so this would appear that j.p. morgan is taking it's expectations for repurchases down slightly. in december the federal reserve when it introduced new capital rules found that jp morgan had some insufficient capital levels and there was a thought at that time from the analyst community that jp morgan could have lower capital returns because of the need to retain more earnings for capital. >> it surprised me here. the dividend is nice but it's not really what it's about. >> really arguably the cheapest bank with the most gain here. >> let's get more on the stress test results. jeff, great to have you with us. i want to start off on the two sort of negatives that have come out so far. that is jp morgan. we're seeing it move slightly lower in the after hours session. this notion of the buy back isn't as big as some had expected. how big of a disappointment if it is one to you. >> well, yeah, jp morgan has a lower buy back is disappointing. i don't think it's the end of the world but i was coming in thinking their capital levels are building so quickly we could get upside as opposed

worth pointing out that goldman and j.p morgan are acting as financial advisors for this particular dealould bring together two of the biggest shopping mall real estate operates and owners in the business. >> the traders go under the radar. plus, the countdown to apple's big event. less than 20 minutes now. there's the clock. stay tuned to cnbc for the play by play. [ male announcer ] at northrop grumman, we've always been at the forefront of advanced electronics. providing technology to get more detail... ♪ detect hidden threats... ♪ see the whole picture... ♪ process critical information, and put it in the hands of our defenders. reaching constantly evolving threats before they reach us. that's the value of performance. northrop grumman. a dentist appointment when my teeth are ready? ♪ can it track my crew's performance, and protect their heads? ♪ can it tell the flight attendant to please not wake me this time? ♪ at cognizant, we see opportunities for every company. to meet the new digital demands of their customers. can it process my insurance claim? like, right now? can it download

i thought one of the great political moves of teddy roosevelt was his relationship with j.p. morgan, one of the first companies that he curtailed was the northern railroad that was owned by morgan. in 1908, he asks morgan to help a lot the federal government, and he does that. can you talk about that relationship? >> two points. on railroads, roosevelt wanted to lower fees on the railroads but on morgan, a very complicated and interesting relationship. there is one moment when t.r.'s attorney general tells morgan -- morgan was upset -- my administration knows no tickertape. morgan was saying, if you do this, it's going to affect the finances of america. roosevelt's guide came back and said, i don't make judgments on your financial tickertape. it's a wonderful -- there is a wonderful amount of literature on the adversarial relationship and yet in many ways, they have mutual respect in the end. >> i did quite extensive research on the roosevelts. would you say in your research if we never elected teddy roosevelt, we never would have built the panama canal? unless you think somebody el

i mean, i still like bank of america, citi bank and j.p. morgan which eked out a tiny gain today. going into this kind of rally, the risk/reward saying citi is down a few basis points in the bad case scenario and potentially up a lot in a good case scenario. today, citi is good to own here. it's not expensive. and yeah, it's a buzz kill sort of on a day like today, but i'm happy to. >> if you take a look at huntington bank shares or sun trust, those really -- it seems like the banks that led, they will not only get the net interest margin that they need but possibly the economy is slowing down and won't have the lone man. >> possibly. we'll see how this whole thing plays out. dominic chu had a piece about kensho's reading was five days out of the financials, they're one of the very best performers over 1% over a five day period. that's a kensho stat. that's not my stat. i liked what a lot of the financials did. goldman sachs had a great reaction today. it depends where you are in the financials and which ones you're picking. >> the dollar index having a daily drop since 2009. the

j.p. morgan getting a bounce today. that kicks off our top trades.he big bank getting a positive write-up over the weekend calling for share hit 80 bucks. >> i could have told you all that, that was in barron's. you know, jamie dimon the hottest and the best banking executive out there. but it's -- >> there's all this matters? >> no no no. i'll all about the value -- >> how about the fundamentals? >> none of that other stuff matters to me, in fact. >> that's kind of obvious. >> valuation matters to me. the earnings power, the premier franchise. enough with the harps i get it. okay. all right? >> you brought it up. >> restraining orders. you know? >> stop it some more. stop it some more. you know. >> you know, that's not a crazy valuation to get to 80. there's no reason they can't earn 6 bucks to put a 12 multiple on this thing is not a gigantic stretch. plus you have a dividend, that gets me to 72 and a year an half they can do it closer than that. they have the buy back. >> they don't have what the other banks don't have themselves and there's highe

i asked him as well as calihan from j.p. morgant, paul jones carl icon and i asked each of them i was supposed to have 45 minutes. the average interview the three hours. i said basically if you couldn't give any of your money to your family, to your kids, what would be your strategy, what would be the portfolio, what would be the approach you would use. out of those 50 is what the book came into serve fundamental steps anybody can take and process results. >> rose: let's go through the seven steps. >> well real fast. the first version is getting in the game. most people waiting &obiggest mistake is they're looking for some day when they have a big hit. they never tap the power of compounding we all know about. if you look at the people who won the lottery or athlete who made a fortune so many are broke later in life. if you look at a driver for ups, theodore johnson you probably never heard of him. he never made more than $14 a year charlie but by the time he was in retirement he had $70 million. he didn't inherit that. he gave awa

and there is nothing that the head of comcast were j.p. morgan benefits more from then young people not using their power to actually run for office and staying out of the electoral those kids in those kids in hong kong would do anything to have the right to actually be on the ballot. and the and the fact that successfully through some odd combination audiology it has become not the thing to do to get involved politically but not to get involved politically is an incredible boon for those corporations that i am talking about and an incredible loss for people who want self-governing society. so i say absolutely get involved, and i would love to talk to you but please do a politically as well. >> i would say i watched politics like you watch the kardashian's. you kardashian's. you can find anything funnier than lindsey graham talking publicly. [laughter] and i really enjoy that. i like the give-and-take. we can watch these things and be aware and informed if we simply look. and it is politics. you know, but know, but i do think that engagement and

but you have rockefellers, guggenheim's, j.p. morgan, who hated roosevelt. morgan said, when roosevelt left office in 1909, went off to africa for your, they asked morgan what he thought, he said i trust some lion will do his duty. [laughter] timothy: that's how they felt about him. and j.j. hill who built the railroads here. they are sort of knowing at this public domain. they don't like these national forest designations. they are used to getting land for free. so they fight roosevelt. there's one more check i should mention before i move on your. you had a united states senator here once named william clark. and he wanted to be the richest man in the world. he was utterly corrupt and fairly honest about his corruption. he made his money in being one of the copper veterans of butte, montana -- copper barons of butte, montana at a time when we get copper because the telephone was just taking off in copper wires and all that. and he bought his senate seat. at the time senators were not elected by the people, they were elected by the legislature. now that mea

on the global state of play and bring in the head of global strategy at j.p. morgan from tokyo.ohn, it is good to see you. let's start on boj. kurota and shinzo abe articular look at japan's bottom line for growth. and in terms of reaching inflation growth, there is deflationary pressure all over the place. what is the pressure on the boj tomorrow? well, i think at the moment, we still have a fairly significant inflationary impulse traversing the globe. the impact of falling oil prices still seems to be some headwinds for oil there generally. that has brought down inflation pressure in japan. made it rather difficult for the bank of japan to meet that 2% target. at the same time, although the data from the fourth quarter gdp that japan was a little below analyst expectations, it was starting to move in the right direction. i would notthat expect the boj to want to change course at this time when they are seeing momentum picked up in earnings data and just the beginnings of a move upwards in macro data. will they potentially extend the program at some future point? that is very m

and says a deal with security card strategist at j.p. morgan say there are more questions that may answer. it does not see a clear path on interest rates. it says a move is likely. >> i think this is an excellent move. i think the removal is a new error. -- era. betty: back to our top story. the tragic plane crash in france. int went down. the french president is garnering a crisis response to german chancellor angela merkel and says there are survivors among the 148 people on board. greg, what is the latest we know? greg: it is in a mountainess terrain. a very rocky mountain. the interior minister and criminal investigators and aircraft investigators from paris are on the way. we should be getting more details from that. betty: what do you know that what brought the plane down? greg: we do not know. the weather nothing that would bring an airplane down. it does not seem to be the weather. the airline put out a stress signal before the crash. it is quite a mystery at this point. betty: greg, thank you so much. meanwhile, turning to greece georg

erik: you know the firm well because you compete so directly with the likes of citigroup and j.p. morgan and etc. in some of these core investment banking and capital markets businesses. what is a failure like that say about deutsche bank? >> says they have to pay a lot more attention to controls and systems that the fed wants to see in place for their u.s. businesses. erik: does that mean they are poorly run? >> here is what i will say. i will say the non-us banks have had a tendency to view the u.s. regulators as secondary or tertiary. they have played historically more by the rules of their home market. what the fed is saying again and again is that if you want to play in our capital markets in the united states, then you must play by our rules. stephanie: except if you are one of these banks like deutsche bank, you make a lot of money in the united states so should you not pay attention to the regulators? >> i think more and more we will see that. erik: if we look past the big banks and their competitors like deutsche bank into some of the companies you cover more closely , what are

we saw it from j.p. morgan chase, the first time i've ever seen it in the u.s. banking history, turning deposits down. what that is telling you is there is a serious regulatory problem. >> this is a business opportunity for sleepy's the mattress company. >> i have been sitting here thinking, the use of cash has changed. it is like we do the same thing every day. coming up, the global smartphone market is changing. a rise of chinese part -- chinese products. ♪ >> good morning. a correction on the second day of march. i suggested earlier that charles calomiris's waistline is re-fleeting, i've been told it has been recently deflating. that is the toggle switch correction there. let's get to the single best chart with brendan greeley. [laughter] >> growth will not be in my waistline it will be in the developing world. the companies that will win that market have gathered in barcelona for the mobile world conference. the companies that are winning our chinese and they run android. that yellow line is apple. slow growth, holding onto market share. you can see the peak

really a differentiating factor to our customers and now today, you know, in a post sony, post j.p. morganpost target breach world, enterprises of all varieties, whether regulated businesses or unregulated businesses care deeply about security and sign security, cyber security, for the first time i think ever we have seen, with we have ceos and boards of directors that are starting to pay a lot more attention to the it investments they are making and to the culture of it in their organization. it with used to be you could meet with a ceo of an industrial company or an entertainment company or a retailer and they just didn't know what was going on in it, that was somebody else's problem he have a cio to worry about and i visited ceo whose didn't know their cio's names, so that was sort of the and now fast forward to today you have cios who are doing consistent briefings with the board of directors chief information security officers who are reviewing the security strategies with the board of directors. this is something that every ceo in the world a, and especially in america is beginning t

that sweet spot when we are talking about 42 -- $2 trillion at bank of america and even more with j.p. morgannd cit i. -- citi. something closer to $100 billion is where i think that economy of scale may peak. be on that, you have dis -- b eyond that, you have diseconomies of scale. with bank of america, for example, over $10 million for a mortgage fund, it falls under the category of mismanagement. they are too big to even keep themselves honest. matt: at the very least, management boards share a duty to consider all options for maximizing shareholder value. let me ask about the proposal at citi. you proposed that management cost haywood -- management should propose a long-term view over short-term gains? barnett: it is an idea embraced by the new york fed president and the fed governor. in this case, senior bank management, for example at city -- seeciti a sizable part of that would be deferred for a number of years. i propose 10 years. out of that hot would come -- that pot would come money that, if the bank engaged in violations of the law and had to pay a fine, that pot would be used. th

caroline: for more, let's bring in the j.p. morgan asset manager portfolio manager.ick off with japan because you have been traveling around asia. your hopeful in terms of japanese economic coverage -- recovery. we have got household goods spending and retail spending going down. inflation at zero. spell out how the economy is recovering. >> the thing we like about japan is a accommodative monetary policy. we wanted to be around these levels. it means the bank of japan remains in play. the+++ here. contrast that with relatively sluggish economy. there are some parts of the labor market beating signs of tightness. as a whole, the economy is sluggish. way to see those 30third arrow affects come through. restructuring in any economy is difficult. it does not mean there cannot be a decent asset allocation trade. manus: from that trade, and before he came back from the break you were saying that people have a gloaming view about growth. -- a gloomy view about growth. the whole movement at the moment is central-bank diversions. growth is 2.5% and the united states of ameri

investors want to know whether j.p. morganxecutives and steered clients into investments for the bank's own gain. turkey authorities are invest getting the biggest power failure in 15 years. the blackout lasted three hours and stretch from the border with iraq all the way to the border with greece. the government says it cannot rule out the stability that the blackouts were a cyber attack. jay-z and some of the world's biggest musicians are takin on the streaming music business by relaunching tidal. jc and his wife beyoncÉ -- jay-z and beyoncÉ and rihanna will be a few of those as equity owners. the standard version will cost $10 a month. it will go up against spotify. still to come, 10 minutes from now, stocks opening a little bit lower and we will take a look at the market movers with scarlet fu. also what a deal with iran could mean for oil. at 10:50 a.m., the newest super car on the track. matt: speaking of cars, the guy with the mouse hat on that walked out i think he has a sweet ferrari. is that dead mouse with the mouse