j.p. morgan, we do the stress tests. i am very much in favor of the stress tests. j.p. 500 billion of capital today. that is enough to bear the losses of all 31 banks. all of them. the whole banking system in america has recovered. part of that is dodd-frank. i don't know anyone who would agree with dodd-frank. barney frank and i agreed that some of the things put in there after the fact should not have been put in, so no, i don't agree with all of it, but it is what it is. unfortunately because dodd-frank, well, volcker was one of them, but it is what it is. i have to deal with it. that is the law of the land. it has been interpreted. the only thing dodd-frank did is that it is not a legislation that says x. it basically says make the system better. do what you have to do to do it. so the regulators have a huge amount of authority to interpret some of these rules. so the system is better. dodd-frank is partially responsible, but dodd-frank was passed 100% democrat, 0% republicans. none of us can possibly say you can't make things a little bit better. so one day, people,

i tell people that if i don't do a good job for j.p. morganopportunities , for our people. the 2000 businesses we do business in we can't be , philanthropic. if i do a good job, we can do all those things. you know? i'm not an artist. i'm not a tennis player. i'm not a musician. i'm not a politician. this is my contribution. david: jamie, i am sure your shareholders would be happy for you to stay forever, but you have any plans how long you might stay in this position? jamie: i love what i do and i still have the energy to do it. it does take a lot of energy. david: your health is good? jamie: my health is good. thank you. so i mean as long as the board , is happy with me. i always say five years. i will be 65. i do think there is a time when the right person is ready that i should leave. maybe the board will ask me to be chairman for a year or two or something like that. i will have an afterlife. like you, i am never going to stop working. i will go on a board, teach, do something to help the government somewhere. i will be fully engaged in b

sally of j.p. morgania is among the very small number who say no, the next move will be a cut. here's what he told us earlier. >> more generally, our senses that the economy is going to continue to disappoint relative forecast, and at some point over the next 12 months, we think the rba will be cutting rates as it becomes clear the domestic demand trajectory in australia is not strong enough to get core inflation back to target. reporter: it's true that if you look at interpretations for australia, this is for the united states where you have the probability of a hike so high, but if you were looking at australia you would see the probability of cuts this year does not even get a 20%. for australia, and more people are saying maybe they could end up cutting, but bottom line is right now the expectation is probably not. to look at the reserve bank of india, they are meeting this week as well. they are supposed to hold their key rate at 6.25%. similar to the reserve bank of australia, weaker gdp and off,tio

a big glass ceiling for j.p. morgan. the form of jaime dimon. >> j.p.ny wonderful and incredibly talented executives have come out of j.p. morgan. samegine that the situation might be a similar one where he got to a very senior level inside the organization that probably not much in the horizon. julia: eric wasserstrom was detailing for many senior gone on toleft and other banks. zamest what is in matt future financial what do we know executive?zames the >> his background is primarily atide the investment bank j.p. morgan. many investment bankers or -- it's very broad based. it ended up in senior manipulate otherons in organizations. even -- probably lots of i speculate. julia: what do we know about the that jaime dimon have with his senior executive? is there a read across from all left beyond this idea that waiting for jaime long to retire will be a time. he's a pretty difficult man to work for. >> well i don't know about that specifically. think more brawle broadly if yk at the organization and the of leaders come out of that organization it's a plac

as an example, j.p. morgan chase's new rgan youth initiative begins in high school and ends with post secondary credentials and lead to long-term careers. young people can gain the skills needed to enter high-paying occupations in growing fields such as robotics, medical science, and coding to build a promising future. failing to prepare young people with the right skills and education for these jobs is a missed opportunity for them personally, for our country, and our economy. by working together on educational initiatives like new skills for youth, employers, nonprofits, and educational institutions can drive economic growth, promote in er mobility, communities throughout the contry, and help more americans achieve a lifetime -- country, and help more americans achieve a lifetime of suck it's. i shield back -- of success. i yield back, mr. speaker. the speaker pro tempore: the chair recognizes the gentleman from tennessee, mr. cohen, for five minutes. mr. cohen: thank you, mr. speaker. personally i could not

but where like j.p. morgango and bank of america pay their depositors close to zero, whatever it is, 16 basis points, 20 basis points of interest, goldman is offering depositors three times, four times as much for their money. 1.05 recently. people took their money out of bank of america and moved it to goldman sachs, they would make billions more of money into their pockets. people don't do that. vonnie: $125 billion for goldman. >> talking about a pipsqueak. vonnie: but lloyd invested and has been in it very many times. they have a mission statement they are sticking to. this is what goldman is, it strength. -- its strength. >> goldman has prided itself on being the rest -- the best risk manager, and it still is. it is the leading m&a advisor, one of the premier, still the premier investment banks on the street. ,t is ticking to its knitting whereas morgan stanley want to get more into brokerage and wealth management by buying smith barney. fargo,rgan chase, wells bank of america are starting global universal

amendments, they're talking hr10.passage of which is the dodd-frank roll back bill. ♪ scarlet: j.p. morgans who once viewed potential jaime dimon has decided to leave the bank after 13 years. otherlows on the heels senior executives who left j.p. .organ in recent years people are wondering what's at j.p. morgan or maybe there are better prospects. >> some of the points their there's aether or not ceiling. it's quite tough to deal with. julia: we're looking at the the members.ed some of the senior management. how many women actually were here.ed just to give you a look. these people general counsel. we don't necessarily have to tie the dots here. just in defense -- this guy to deal with. certainly promoting women at the bank. level of the scarlet: we spoke to an analyst who suggested that if you had to next ceo of j.p. morgan maybe a woman. jaime dimon has been very active promoting women to senior ranks. the evidence is right there under the management committee. can see it there. news,e have some breaking scurchi, said to be the oceb.ssador to be back. mark: it's time now for first news.

j.p. morgan's derivative and quantitative strategies. welcome back why don't you all pine on whether you think this trump rally gets a reboot here it feels like it >> they said, i like value i like the financial energies, i would wait a little bit more trump rally sort of started right after the election, so it started bringing back already in january, gave back pretty much everything you know, few look at it sort of april/may, we had sort of growth rally lower rally and value within the correction. and obviously yields played big role, declining yields, a curve. some questions about sort of how much the reforms will get. so the move was very big you prove may, it's towards the ends of that move, if you look at the end of may and early june, basically, accelerated and snapped back when it snapped back, we saw fang's selling off pretty hard and we saw sort of the other side rally so i think what happened now is a bit more of a snap back of that big move sort of in april and may that happened rather than quote the kind of a start of the ne

i'd much rather buy j.p. morganif this one is going higher, citibank is going higher, i feel much more comfortable owning j.p. morgue him. that's ultimately going. >> she had me with that left-handed mit. look what i wrote k-fine dropping knowledge. that's what she does, i'm a buyer of what she's sell zplg the buyers and sellers for karen's pitch. does karen have it takes to make you want to buy citi? vote in our poll, we'll reveal the answer later on in the show. plus, president/ceo elon musk, the annual shareholders meeting is under way right now. we will hear what he has to say about tesla's future the model 3. you are watching "fast money" on cnbc first in business world wide. we created the ripple: the doughnut in a doughnut in a doughnut. right away, it was a success. i mean, it really took off. what people don't know is that it all started with points from my chase ink card. i bought the ingredients, utensils, even custom donut cutters. wow! all with 80,000 points. what will you create with your points? learn

more from j.p. morgan chase on the way.♪ jpmorgan kicks off its annual summit in beijing today. asiamorgan chase vice-chairman said china is entering an era of global leadership. >> china on the one hand does have to protect its domestic interest, it's corporations and enterprises. on the other hand, china also knows it's companies need to go global. so linked to the rest of the world these days, there is no way china can pull bank -- pull back from globalization. >> but debt fueled growth is not an economic role model. >> we all know that. indeed, the chinese economy has been charting a new course. but we have some concerns. china's gdp is 280%. going forward, would think after the 19th party congress, the process had to begin, especially among state owned enterprises. >> how about china moving beyond the rhetoric and talk and opening market access? europe, they want access in europe, but europeans are wary of the chinese dumping into their market without reciprocal access tech here. what kind of market access -- and i kno

but then we could connect it to the j.p. morgan chase data. >> pieces of data that surprised me from the income and program participation survey talked about between 2009 and 2011 and so it is a bit of an unusual period during the recession that 10 million americans were poor during every month of the phase. that's 90 million americans at some point recorded during the period is so one third of amera experienced poverty have some moment often for a short time but we have to rethink what is going on and the story that was done before the recession is a similar kind of number that wasn't just this issue but there was a moment of kind of what's going on today with shabazz. >> it seemed something happened in 1980 where we know that the late 70s were where working men's wages key to and they have been climbing ever. it's the most fundamental change that is going to stay with us and is undeniably driving the news cycles bubbling up so tell me about what happened. >> guest: i think you're right. it preceded the recession and then the deep

joining us is a chief economist at j.p. morgan and former fed economist. what did you mean?ave had three straight cpihs of disappointing numbers. the philip curves relation which the flat -- the fed employees, at low unemployment, you should expect rates to be increasing the not decreasing. we have had is missing absence of inflation and that will add a twist and we expect them to hike but i think it may alter a little bit how they communicate their outlook for the remainder of the year. what a bank the longer the transitory inflation -- vonnie: the longer the transitory inflation goes up the the longer it becomes a non-transitory. it filters into the rest of the economy? michael feroli: he is a bit of a got a check for the fed. they have to say when they look over the next 12-24 months, where they think inflation is going a you have conflicting signals. an interesting debate this afternoon. ultimately, we do not think all that much changes from the number but probably change the tone of little bit. mark: do the dots change? is is still three in total? what about next year?

goldman sachs, j.p. morgane the sized president trump's decision to withdraw from the paris climate change record. rick perry said they are wrong and said it is political. he spoke exclusively to tom mackenzie about the paris decision and the cooperation between the u.s. and china as well. justperry: it is not energy but economic development, energy being at the heart of china is an into extraordinary opportunity for both sides i might add. the show has changed in our landscape of energy. lng will play a very important role. tom: did you get any closer to china finding a contract? rick perry: but we were able to do with share with the vice our ability to deliver lng was very substantial. our desire to be a participant in this party is very strong. the will is there, and i think both governments will come together. we are working with the private sector to find great opportunities for american energy companies into china. tom: on paris climate change, you were right to stay away, because it has reduced american

we will be joined exclusively by the jamie dimon, chairman and ceo of j.p. morganse at 8:00 a.m. in dubai and noon if you're watching from hong kong. yousef: the deal to extend the -- we discuss why and break down is ahead. this is bloomberg. ♪ yousef: this is "bloomberg markets: middle east." tracy: i am tracy alloway. its biggest drop in four weeks amid questions over the effectiveness of opec's deal to help rebalance the market. this as u.s. production continues to grow. russian energy minister told bloomberg that the deal should not be seen as a failure. if we had not extended the deal, i believe we would have at not a percent as you mentioned, but probably 50%. yousef: what has been happening with u.s. rigs? in lateex coming friday, and 11 consecutive week of gains. we put this together on a chart seating get that additional perspective. your top panel is u.s. crude production. your bottom panel is u.s. crude. you could see it up once again to 733. you consider that back in may 2016, that is more than double of that level. the chiefg tim fox economist at emira

shares of snap fell after j.p. morgan lowered the price target by 10%.n part on fewer people flocking to the platform. j.p. morgan says users are not expected to join snapchat as fast as previously expected. harvard university has withdrawn the acceptance of 10 incoming freshman because of a social media message. an offensived offshoot of the meeting group. harvard reserves the right to withdraw admission if a student engages in question will -- questionable behavior. we continue our coverage of the apple developers conference. emily chang sitting down as we speak with c.e.o. tim cook. we bring you that exclusive interview later in the hour. if you like bloomberg news, check us out on the radio. you can listen on the bloomberg radio app, bloomberg.com, and in the u.s. on sirius xm. this is bloomberg. ♪ alisa: i am alisa parenti in washington and you are watching "bloomberg technology." let's art with a check of your first word news. concrete and metal barriers are going up on several london bridge is following the second terrorist attack using vehicles t

the coo at j.p. morgan chase is leaving the bank. methane, the coo -- the coo of j.p. eaving the bank. >> shannon, we've been talking about what happened on the hill, what happened with this testimony of james comey. talk about back at the white house straight what will this do to their ability to move forward with their agenda? a lot of our audience has been waiting for tax reform, for health care, for infrastructure investment. is i getting off track or is it still on track? track notetting off only by this, but the other distractions this administration keeps creating for themselves, typically in the form of a tweet the past few days. they are trying to get the focus on infrastructure. nobody could stop talking about the tweets, about the president bringing his controversial travel ban back, attacking the london mayor. the white house and west wing, they only add so much bandwidth. it's a relatively small staff and they can only really focus on so many issues at once. while up on the hill, let's say take tax reform, ways and means senate finance is working away on so

details.latest stephen macklow-smith is the head of european strategy at j.p. morgan.till with us. the saving of these two banks or the splitting of these two banks, do you think this is a good message to the market saying italians cannot in size, 17 billion? stephen: we saw this with the injection of funds. we are getting towards the end of the problem. this is not the start of the italian banking problem. people look at these assets, they look back to acquisitions of american banks in 2007. they say, i have seen this play before. italian --s in the the issues in the italian baking system are now well known. we know what the it -- the size of the italian npl's are. they are a relic of 4 -- poor growth for many decades. the size was so great and everybody knew about them, that trying to bridge the groep -- thege the gap and the marks bank has taken is too far for the banks capital base. manus: relative to the european story, you can see 40% at ven eto. as you say, it is nearing the end of the issue for italian banks. stephen macklow-smith stays with us. line in terms o

shares of snap fell after j.p. morgan the price target by 10%. $20.$18 to it downgraded based in part on fewer people flocking to the platform. j.p. morgan says users are not expected to join snapchat as fast as previously expected. harvard university has withdrawn the acceptance of 10 incoming freshman because of a social media message. students a shared offensive memes. harvard reserves the right to withdraw admission if a student engages in questionable behavior. we continue our coverage of the apple developers conference. emily chang sitting down as we speak with c.e.o. tim cook. we bring you that exclusive interview later in the hour. if you like bloomberg news, check us out on the radio. you can listen on the bloomberg radio app, bloomberg.com, and in the u.s. on sirius xm. this is bloomberg. ♪ so new touch screens... and biometrics. in 574 branches. all done by... yesterday. ♪ ♪ banks aren't just undergoing a face lift. they're undergoing a transformation. a data fueled, security driven shift in applications and cu

j.p. morgan shares tumbling as executives from both company ies report trading revenue in the second quarter dropped significantly. what does significantly mean? >> it is a good question. j.p. morgan told us in the second quarter that trading revenue would be down 15% compared to last year. bank of america was not quite that bad. brian moynihan today said it would be down 11%, 12% or so. >> they had a fantastic first quarter, a quarter we were not expecting in any way when it came to trading revenues, so is this a little give back? >> it is. last year's first quarter was terrible for the big banks. the second quarter was a huge quarter. this year, we had a reverse, the first quarter was better than last year, and that is what you would expect, but now the second quarter because of the comp of last year is not as favorable and we are seeing it down a little bit. >> are you seeing the same impact? is that trading revenue starting to weaken as well? >> it is an interesting environment. there is enor

last month, j.p. morgan agreed to buy an office building in dublin.o considering whether to acquire property in amsterdam. this would be space for workers relocated from london. that is your business flash update. julia: what you need to know to gear up for tomorrow's trading day next. from new york, this is bloomberg. ♪ julia: it was a day of diversions for the u.s. equity market, the nasdaq higher, the dow and s&p lower, energy the focus again, under rate of downgrades. tomorrow, the bank of mexico announces its rate decision at 2:00 p.m. eastern time. joe: i will be watching bed bath & beyond earnings. julia mentioned earlier the threat from amazon to that company. julia: the fed releases part one of its annual bank test at 4:30 p.m. eastern. joe: that is all for "what'd you miss?" julia: have a great evening. this is bloomberg. ♪ alisa: i'm alisa parenti from washington, and you are watching "bloomberg technology." the state department says the u.s. remains open to discussions despite russia's decision to cancel talks. russia canceled meetings in

areas like we do, small and medium-sized towns, small businesses, they don't get their money from j.p. morgan. they get their money, their credit from community banks. if community banks seizing up and going out of business them in small businesses are not expanding. that's a serious issue. that's why we need to bring relief. when a bank struggles has to stop offering basic services to stay afloat. that's why the financial choice act is coming to the floor today. means really for small businesses and the workers they hire customers they serve. the beginning of the is a month of action to address the problems americans face in their everyday lives. i will turn it over to the majority leader. >> i thank you for inviting me. since nothing else is happening in washington this will be a packed crowd. that was a joke. thought i would give you slideshow. the speaker talked about the productivity of this congress. a lot of times people measured by 100 days. we are now in the hundred 39th day. this statistic i give you will not be from what we did today but from yesterday. you take into the president,

vonnie: alex dryden at the j.p. morgan asset management. a look at first word news.ismissssian lawmakers the testimony of former fbi director james comey as insignificant as said president trump fired him to impede an investigation into russia's ties into the trump campaign. and the conclusion that russia tried to meddle in the polls. a russian political scientist saying they have no effect in russia. what are the scientists telling reporters that it has been tried to blame the russians for what is going on in america democracy. more of the story in the next half hour. -- innews on this friday other news today, we are going to continue to follow the british election, the results and last night we are friday. theresa may is trying to find a government and may have to reach out to some of the opposition to do so because they are now in the minority in the u.k. the european union president donald tusk given his reaction to what was going on in the u.k. today and concerns about brexit and those concerns are being echoed across europe. we will follow that in a few minutes

like j.p. morgan? no. >> that's chase. no, no, no. i mean...sident. >> like a texan person? >> butcher. >> would be an oil baron, 'cause he--go, say it. >> no. >> you got it. >> you know what? >> [laughs] >> $10,000 sounds really good right now. i'm going to... >> [laughs] >> i am going to-- i'm going to walk. >> final? >> final answer. >> congratulations. you want to take a guess? >> was it the butcher? >> it was butcher. it was "d," butcher! yeah, there was "there will be blood," he was the president in "lincoln," and he was in-- an artist in "my left foot." but you are leaving here with $10,000, mirna. that's all yours. pleasure. nikki. thanks for doing what you guys do. we're gonna come back, play more "millionaire," right after this. (rebecca) i struggled with depression, i thought i needed cigarettes to cope. i was able to quit smoking, and then i started running. now i feel a lot better. (announcer) you can quit. for free help, call 1-800-quit-now. >> here's your question of the day. a well-known method of teaching, characterized by aski

stubbsoining us is david from j.p. morgan asset management.anet yellen, so much to talk about from this press conference and what did or didn't happen in markets. they are data dependent, but we're talk to ignore some this data because it is a bit noisy. david: they are in a difficult situation where historically you'd expect inflation pressures to ramp up. withdraw,to gradually the key word is prudent there. at the same time you have some unusual things going on in the global economy and the u.s. economy which is dragging inflation down. a couple of key things in the p intion data, core cpi august of last year and is down to 0.6. so there's nothing to see here for the moment. bloomberg intelligence, we talked about the balance sheet. they given some caps in terms of what they're doing but i love going to be like watching paint dry. what did you interpret in terms of the cap's? >> it's quite ambitious, they want to wrap it up by a further $10 billion to get to a point where in theory they will be allowing $50 billion a month to roll law, if it

if you are locking at games antsz banks, forget the big names like goldman and j.p. morganll bank stocks are making all time highs, dom chu is in the newsroom with more. >> reporter: mellissa, financials may be the worst performing sectors this year when it comes to the bank stocks overall. we spoke a lot about this worsening interest rate environment and what it means for bank profits while interest rates will be tied in some way, shape or form to overall conversations, they may play less of a role for certain parts of the market. there are a handful of stocks that maybe shown steady stock performance i gets you can say in 2017. that's the custody bank stocks at least the large banking institutions that don't engage in the best of banking per se, but rather keep quiet assets safe and perform other services like record keeping or account administration or tax reamed stuff. that's among other things they do three of the biggest companies in the banking industries subset are bank of new york mellon, phony, as some know then as, northern trust and state street, bny mellon, nor

as brexit talks continue in brussels, j.p. morganhase is looking for more office space outside the u.k. the bank and many others have confirmed plans to move hundreds of jobs out of london to preserve access to the european single market. there had been talk of a slowing sector but the aviation industry is reporting a rebound in sales during this week's paris air show. boeing has come out on top for the first time in five years. the american plane manufactory -- manufacture one orders for jets worth about $52 billion. the french-based airbus has secured orders for only about half as much. it is ok sing on meeting its delivery targets rather than featuring new sales. a joint venture has racked up a oford 27 billion euros worth orders during this week's show. an arch rival of the british rolls-royce told us he doesn't expect it industry as a whole to be impacted by brexit. >> we are on the worldwide market and were serving 570 customers today all over the world. brexitnally don't think is going to affect the airline in the u.k., but it

. >> jamie dimon chairman cem j.p. morganhelpful to big businesses being a large bank, because if ibm or large company calls us says i need a complicated lending situation, we can go into where we have our deposits or we can do the deal, and we need both parts of the bank, to actually facilitate that complicated piece of business. >> right. >> and we keep that, but you can find the subsidy to ensured commercial bank so they can go anywhere in the world if then capital markets need can provide it if they have a lending need a commercial bank lending need provide it if you are going to trade you can trade in nonbank capital markets unit you find subsidy more competitive, saver now we can have real economic growth, based on the market rather than some administrative rule around how much dividends you can pay this time or next time. >> you make a good point the market will decide that that is what you want. >> that is what you want. >> let me ask you about lending in general because a lot of you people feel that the reason that w

nike getting a down grade from j.p. morgan chase. later on, has tesla run too far too fast carter worth, he called the breakout he says you may want to get out. 's here, whole tell you why. d ty just like the marines did. at one point, i did change to a different company with car insurance, and i was not happy with the customer service. we have switched back over and we feel like we're back home now. the process through usaa is so effortless, that you feel like you're a part of the family. i love that i can pass the membership to my children, and that they can be protected. we're the williams family, and we're usaa members for life. call usaa today to talk about your insurance needs. >> apple is coming to a tv screen near you. not just showing you other people's stuff, it wants to be the creator. josh lipton in san francisco has more on this story josh. >> reporter: well, brian, apple ceo tim cook says he wants to double the size of his service's business by 2020 one potential way to reach that goal, build out a bigger foot print in

tells us that second-quarter trading revenue is on pace to drop 10% echoing similar concerns from j.p. morgannd bank america. we will bring you to -- james gorman's outlook. polar opposites. president trump is said to lean toward going out of the landmark paris climate accord. we will get a view from the chairman at the same peter -- st. petersburg economic form. theresa may gets lambasted by other party leaders for her decision to skip a televised debate a week away from the election. will it matter to voters or have traders priced in a may majority here question mark we are less than half an hour away from the start of european trading. let's take a look at futures. little change on the dax index urostoxx upu do see er cnd the ftse and cap up -- ca up. take a look at what we see happening in forex. the aussie dollar is dead, the british pound is bid create after caution data out of china that goes the way of the positive pmi data that we saw yesterday, telling two different tales and the pound we're watching very closely ahead of this u.k. election. also if you take a look at the commoditie

this as bank of america, wells fargo, j.p. morgan and citigroup are up 2% or more.oming on the heels of a dodd-frank roll back. is a pank trade on tractor should you save this mover? dan. >> well, i think fade it. listen, you mentioned the two events. they're well known. we know that the fed is going to raise 25 basis points next week. what happened to the 210 spread? it didn't move this week. okay. also, last week what did we get from a lot of these banks? management, q2 is not shaping up particularly great. yeah, they need a little volatility. they don't need the volatility that we saw in today's action in the nasdaq personally. i don't think they do. so when i look out to the 3.5% move, the xlf the track the bank stocks here, i think it sets up as a really good opportunity to once again take profits or short and shoot against that $23 porte level. that's been in place since december. >> i think what was very interesting today is, we were talking about this before we came on is the fact that of course the market has not been very volatile. i think it is very fragi

value is estimated to be as high as five billion dollars and it's growing in size according to j.p. morgan chase passive and quantitative investors now count for about sixty percent of the equity assets compared to thirty percent a decade ago and now only ten percent of trading volume comes from discretionary investors in fact it's the fastest growing category on credit suisse is prime brokerage platform one thing is clear it's time to enter the quanta. the russia collusion and obstruction debacle in the halls of congress are a huge distraction right now for the nation and it has far reaching financial implications that is what my guest says joining me now david stockman former director of the office of management and budget under president reagan and author of trump's nation on the brink of ruin and how to bring it back sir thank you very much for joining me i'd like to ask you you say it's time for wall street to hunker down because a potential government shutdown we could be facing could wipe market gains tell us about that. well we're in the midst of the biggest political train wreck i

to see or the barclays no one on lloyd is the northern city bank or then goldman sachs or then j.p. morgan i don't know what the banking industry is replete with scoundrels and thieves in the market the crypto market we're trying to fight back against that that's the point is it doesn't matter that you stay for the same because you've got to go of course thanks i think i was going to for this edition of the kaiser report with me max kaiser stacy i would like to thank our guests jose rodriguez he's a v.p. of payments over a bet you can catch us on twitter account as required the next time by you know. people with stories to tell. the tale so deserve to heard. our. insight. but still i mean sometimes. all. you see and witness is. there here to speak for you there to hear. armstrong call evil but i'm really hoping. we're going to be your hosts for the tree thousand and seventy confederations cup brought here in russia we're going to be visiting the most cities or sochi. moscow going to great been told to lose pools also something pretty much every thing the fans need to know about my head of

that was j.p. morgan speaking to stephen engle in beijing.sts a modest pickup in the global economy. the lead author joins us next with the reasons why. this is bloomberg. ♪ >> the former ceo of standard chartered says there is too much debt in china and he expects more rigorous controls will be put in place after this year's communist party congress. he was speaking exclusively to bloomberg in beijing. there is clearly too much debt in china, that i am not of the few that you should just put the brakes on in a sudden way, because that will create more problems. china has to navigate a situation of growing out of its debt. i would anticipate you would see more rigorous controls following the 19th party congress. i would not want to underestimate these challenges. i am still positive about the economic prospects. >> what leads you to that confidence? >> i am spending a lot of time in the states at the moment, and you can hear some very negative opinions about china will blow up with some sort of debt bubble and banking crisis and so forth. i d

his sentiment echoes calls from j.p. morgan chase's jamie dimon. china has told the u.s.stay out of its affairs in relation to a probe into 3-d thingies who went missing last month -- three detainees who in missing last month, they were investigating labor conditions at a factory that made shoes. the activists have been detained under a new law for illegal eavesdropping. starbucks selling meals from snap kitchen at a stores in houston, snap didn't let by the former weight watchers ceo and focuses on healthy ingredients. starbucks is trying to compete with chains like mcdonald's. they will add another test market soon. that is your bloomberg is this flash sprint and t-mobile -- sprint and t-mobile to -- merger work to happen, it may not be financing. this is bloomberg. ♪ ♪ this is bloomberg markets, i am vonnie quinn. takes ag m&a reporter closer look at the potential merger between sprint and t-mobile. he has some exclusive reporting and will tell us what kinds of terms are being talked about. is too early to know if sprint and t-mobile will attempt a merger. according to

we are being joined by jamie dimon of j.p. morgan chase. that is at 2:00 p.m.n sydney, midnight in new york, 12:00 in hong kong. we are watching mining and commodities, a big heart of the world bank outlook. we have an interview with fortescue mining. that is after 11:00 in hong kong. oili: interesting as we see and iron ore prices were they are. there is a claim to the u.s. -- london bridge terror attack. several people were killed saturday night days before the country votes in a general election. sebastian joins us now. get us up to date what we know. far isr: what we know so that the vans hit for passengers on london bridge saturday night. populace ando the london, tourists as well. the islamic state has claimed responsibility for the attack. details are still unknown. police continue the investigation and make arrest across london. what is striking about this attack is the frequency, the third in the last few months and second in the general election campaign. a few weeks ago there were 22 killed in manchester, and there was a similar one on westminster br

go to see one of barclays know the lawyers the northern city bank or then goldman sachs or then j.p. morgan i don't know what the banking industry is replete with scoundrels and thieves in the market the crypto market we're trying to fight back against that that's the point is it doesn't matter that these different are the same because you've got to go of course thanks i think i was going to for this edition of the kaiser report with me max kaiser stacy i would like to thank our guests jose rodriguez he's a v.p. of payments over a bit so you can catch us on twitter account as required the next time by you know . here's what people have been saying about rejected in the sixties full on ourselves the only show i go out of my way to launch you know a lot of the really packs a punch to sleep is the john oliver of r t america is doing the same we are apparently better than blue nothing's better and see people you've never heard of love redacted tonight president of the world bank so are you going to let me say it's like he sent us an e-mail. seems wrong but well let's just don't call. me. yet to

buybacks more, morgue morg buying back $5 billion in stock, wells, 11.5, american express 4.4, j.p. morgan financials at this very moment are soaring, but they soared after the election. many people consider them to be a integral part of so-called trump trade, they should benefit from our economy and the dismantling of dodd-frank. up big time, if you are in financials you are probably going to be very happy in the morning. techs were second best performing sector today, after struggling early, president trump hinting at a tax act against amazon, jeff bezo, owns washington post, they have run nonstop negative articles against the president, but it looks like amazon moved to buy whole foods, that is the big news after the market, it is weighing in on ipo prices of blue apron, pricing .. aipo at lowest point possible. earlier ranges were thought to between 15-17. it is down. the cracks in armor of tech, they began with a lot of short sellers, nvidia. today, nvidia led tech names back along with paypal, i think that is a screaming buy. market upbeat by fact that senate going back to drawing bo

see or the barclays no one on lloyd is the northern city bank more than goldman sachs more than j.p. morgani don't know what the banking industry is replete with scoundrels and thieves in the market the crypto market we're trying to fight back against that that's the point is it doesn't matter that these different are the same because you've got to go of course thanks i think i was going to for this edition of the kaiser report with me max kaiser stacy i would like to thank our guests jose rodriguez he's a v.p. of payments over a bit so you can catch us on twitter account as required the next time by you know . about your sudden passing i've only just learned you worry yourself and taken your last wrong turn. to caught up to you as we all knew it would i tell you i'm sorry but only i could so i write these last words in hopes to put to rest these things that i never got off my chest. i remember when we first met my life turned on each breath. but then my feelings started to change you talked about war like it was a cave still some are fond of you those that didn't like to question our ark a

to see or the barclays note on lawyers the northern city bank more than goldman sachs more than j.p. morgan i don't know what the banking industry is replete with scoundrels and thieves in the market the crypto market we're trying to fight back against that that's the point is it doesn't matter that you stay for the same because you've got to go of course thanks i think i was going to for this edition of the kaiser report with me max kaiser stacy i would like to thank our guests jose rodriguez he's a v.p. of payments over a bit so you can catch us on twitter account as required the next time by you know . i see i don't want to see you i'm still at the see me i'm going to cut back. to zero you know. we might need to move c.t.'s graphics a lot of holes in a mood to movies the whole scene plus the middle if you don't think that's a magnificent piece anyway some place from which to see much more food than save me save us from people really nice and friendly in my conformance feel welcome in russia it's all very interesting very good because the food was dusty quickly just not very enjoyable pla