j.p. morgan chase so they could buy more of the toxic assets that were created from subprime mortgages and so forth so all this lending happened on top of all of this lending to consumers on the back of that and that ultimately crashed in sort of the great mass of implosion to which the fed came in and said all right we're just going to make money really cheap so that if you don't trust each other at least we've got this you can get money from us it was zero percent interest rate and by the way we'll continue to buy assets throughout the yield curve to five years to ten years and so forth by mortgages will buy us treasuries so that we keep rates low throughout the entire you curve and that means that banks should technically feel like if they can trust today because they've got this money coming in they can trust tomorrow they can trust in five years and ten years and that's kind of how things went for the last decade now what we're seeing is that wasn't enough a lot of credit has been extended because rates were so low to the corporate world to governments to consumer credit seven all tim

j.p. morgan chase bank is in the fifty third place down there as you can see with that acid sheet of just under half a trillion dollars if germany's two biggest banks were to much they would move up to tense place internationally but the problems will hardly be going away jobs and brands.

j.p. morgan chase bank is in fifty third place down there as you can see with acid sheet of just under half a trillion dollars if germany's two biggest banks were to much they would move up to tense place internationally but the problems will hardly be going away jobs and branches will have to be cut to make it work now investors welcomed the announcement at least in morning trading shares in both george and clematis rose and i was in frankfurt and that is where our correspondent is standing by for us hopefully when i can see him conrad can you hear me. ok we don't have a correspondent just yet but we do have another story for you is there another trade war brewing us president to donald trump wants to take india out of its preferential trade program known as the generalized system of preferences or g s p g s p guarantees emerging economies special treatment such as lower u.s. imports duties washington says india has been the world's largest beneficiary of this preferential status saving billions in u.t.s. well now it's time for america first against make in india. this entrepreneur in mumb

j.p. morgan chase a coma is in fifty third place down there with an asset sheet of just under half a trillion dollars so germany's two biggest banks would emerge they would move up to tenth place internationally but the problems will hardly be going away jobs and branches will have to be cut just to make things work out. the government is pushing for a merger between deutsche bank and commits bank as it wants to create a german mega bank to compete with global investment lenders german finance minister says urged by chief christiane saving and commits bank head martin to consider joining forces. critics warn the merger could be complicated the banks say they are moving with caution frontispiece. only merge with commits bank if it makes economic sense that's important to us that requires a good plan above all the good integration plan we worked together with commits bank and when we have the results then we will decide. the outcome of these merger talks could go either way. we will need some time because it's more important for us to be torode than it is to be quick. what's important is that w

j.p. morgan chase in purely mathematical terms but for critics that's not enough reason for a merger. and i did use the merger alone doesn't create a new business model and size of the one is not enough i don't see the vision behind it yet. the merger could also be painful for workers unions fear between twenty to thirty thousand bankers could lose their jobs for many it's a forced marriage for political reasons the two beleaguered banks will have to see what other advantages they'll have besides saving money. let's check out some of the other stories making the news this hour ethiopia's government says last sunday's plane crash shows clear similarities to a crash off indonesia october unless based on analysis of flight data from the plane's black box it was recovered from the wreckage and. both planes were boeing seven thirty seven x. eight aircraft boeing says it will cooperate with investigations into the tragedy. hundreds of protesters have joined anti-government rallies in sudan demanding longtime ruler omar al bashir resign over the ongoing economic crisis there on sundays gover

j.p. morgan chase held its global conference in paris this week.t is where we sat down with an exclusive conversation about global markets with chairman and ceo, jamie dimon. she asked what will survive as a financial center after brexit. jamie: under soft or hard, financial centers in london will diminish over time because countries will demand -- it can be legal, credit, compliance -- i think it actually changes the forecast for london. hopefully it will still be a financial center. it will not be what it is today. francine: how should we look at china and what kind of business do you want to do in china? jamie: they need to resolve many issues. resolved?will they be jamie: we think so. both parties want it. they are complex. they talk about having hundreds of pages of memorandums. if it doesn't get resolved, it is something to be worried about. china will be a fully developed nation as bigger than the united states in 30 years. they are very smart but don't have enough food, water and energy, huge corruption, don't have an open, transparent -- h

j.p. morgan chase chairman and ceo jamie dimon speaking with francine.up, more compelling conversations. tony blair on brexit and more on -- and bob dudley on opec. and investors tell bloomberg where they are going out growth -- now that growth is slowing. bruce: the four largest economies in europe slowing and slipping towards recession. josh: it is time to be cautious. >> my bet on the u.k. banks is really -- kailey: this is bloomberg. ♪ kailey: this is "bloomberg best." it has been another week of high drama on brexit with experts in business and politics joining us to talk what lies ahead for the eu. let's revisit our most interesting interviews, starting with our exclusive conversation with former prime minister tony blair. mr. blair: if britain is prepared to think again, then europe should think again. the issues that gave rise to you brexit are europe issues, not british issues. immigration, fear of communities left behind, casualties of globalization, a feeling that europe was integrating in a way that people lost control of. similar themes all

j.p. morgan chase international, speaking to tom mackenzie. us from abu dhabi, simon ballard, executive director macro strategist at first abu dhabi bank. so great to have you on the program. good day to you. let's start with what's happening in the bond markets. we have a chart showing the inversion for the first time since 2007 of the three-month tenure curve. -- mohamedcted el-erian says be careful in reading too much into this curve. today we are asking the question, will the u.s. yield curve recession signal be valid this time? will it? the problem is i don't think it should be but i think the more you look at that curve and fear what it is trying to tell you, the more you buy into the idea of a recession and consumers force the event which shouldn't have happened in the first place. don't read too much into it, i given that the fed has to look at data dependent. i do not believe recession risk is that intense in the u.s. economy but by definition the more people subscribed, the more they will look into it. >> simon, you bring up a brilli

j.p. morgan chase and the good tiding foundation.ry spoke to many high school kids and younger ones, did basketball bills after sharing a few words with the crowd. >> everywhere i've been, the last ten years playing here, i've met so many amazing people who are committed to bettering their communities in any way that they can. and this, this court is a representation of that. >> this abc7 sports report is sponsored by river rock casino. i had my australian accent, donk. >> he almost looked embarrassed. >> i was joking around with andre iguodala. he said he's the sec point guard. >> i think it (music throughout) dearest britain. we love you. maybe it's your big hearts. your sense of style. welcome to ba100. (ba100, you're clear for take-off). how you follow your own path. you've led revolutions... of all kinds. yet you won't shout about it. it's just not in your nature. instead, you'll quietly make history. cake. beds. poetry. trouble. love! hope! and rather a lot of tea. the best of britain, from the moment you step on board. >>> all

j.p. morgan chase institute takes anonymous spending from millions of chaset cardholders s tax refund is the biggest pay day of the year for nearly 1/ of households. >> we were most surprised to learn that the tax refund is the way people step up year to year. they think of it as a year end sey incr what we find is it's really this tax refund where they reset dey rebalance their spending. >> reporter: theyo more than rebalance. the study found that spending spikes i74%the week after the check arrives in the mail from uncle sam. the average refund equal to six' we salary for the average recipient. >> i put some in savings and then ifth e's something that i need or my children need, i get it for them. >> people spend their tax refund differently than they spend -ttheir general dday spending and so we see much more emphasis on durables. they're paying down credit card debt. out morejust takin cash instead of buying services on durables and food. >> reporter: it appeaof because last year's tax cuts refunds might run lower but that's proving not to be the case. the number and dollar is running a

j.p. morgan chase and the good tiding foundation.o many high school kids and younger ones, did basketball bills after sharing a few words with the crowd. >> everywhere i've been, the last ten years playing here, i've met so many amazing people who are committed to bettering their communities in any way that they can. and this, this court is a representation of that. >> this abc7 sports report is sponsored by river rock casino. i had my australian accent, donk. >> he almost looked embarrassed. >> i was joking around with andre uola sai he's secd point guard. i had a few good tricks to help hide my bladder leak pad. like the old "tunic tug". but always discreet is less bulky. and it really protects. 'cause it turns liquid to gel. so i have nothing to hide. always discreet. my gums are irritated. i don't have to worry about that, do i? actually, you do. harmful bacteria lurk just below the gum line. new crest gum detoxify works below the gum line to neutralize harmful plaque bacteria and help reverse early gum damage. gum detoxify, from

j.p. morgan chase in purely mathematical terms but for critics that's not enough reason for a merger. and i did for the merger alone doesn't create a new business model and size of the owner is not enough i don't see the vision behind it yet. the merger could also be painful for workers unions fear between twenty to thirty thousand bankers could lose their jobs for many it's a forced marriage for political reasons the two beleaguered banks will have to see what other advantages they'll have besides saving money. before all is possible mega merger and joined by stephen beardsley from v.w. business hey steve so there's been rumors about a possible merger between these two banks for quite some time yet now it's confirmed that talks are going ahead what about the timing wise it happening now as you said this is been in the crystal ball for a while and it's even been attempted once before on sort of a preliminary basis so both sides have known that this was a likely this is a likelihood both weak banks why it's happening now is because look at the economy what's happening with the global e

j.p. morgan chase c.e.o. jamie diamond created.whenever i want someone to stop doing something i don't like all i got to do is play mereology music. to me. themselves made their mark in the fight for reform to win last summer prisoners nationwide went on strike for three weeks to protest modern day slavery which is perfect for private companies trying to save money like those whose customer call centers use prison labor instead of outsourcing their call centers overseas even the bureau of prisons federal prison industries called the use of inmate labor the best kept secret in contact centers well the one thing we can agree on is it's best if this was kept a secret. but now i know and i can't see it so i guess who ever thought revealing this was a good idea also spends time explaining magic tricks and ruining cookouts by revealing what hot dogs are made out of. in arkansas where prisoners still work for free state lawmakers took notice and sought a constitutional amendment last month to ban forced inmate labor states like florida so

j.p. morgan chase in purely mathematical terms but for critics that's not enough reason for a merger. and the merger alone doesn't create a new business model and size of the world is not enough i don't see the vision behind it yet. the merger could also be painful for workers unions fear between twenty to thirty thousand bankers could lose their jobs for many it's a forced marriage for political reasons the two beleaguered banks will have to see what other advantages they'll have besides saving money. the syrian migrant has gone on trial charged with killing a man in the eastern german city of candidates the incident last year the migrant protests in the city and led to a national debate about the rise of the far right. done was fatally stabbed in the eastern german town of kim its last summer the suspects were two asylum seekers one of them has just gone on trial the other is still at large. the attack prompted the biggest right wing riots germany had seen in years for days protesters marched in the streets of candidates shouting racists lawyers some were seen showing the hitler sal

j.p. morgan chase in purely mathematical terms but for critics that's not enough reason for a merger. and understood the merger alone doesn't create a new business model and size of the owner is not enough i don't see the vision behind it yet. the merger could also be painful for workers unions fear between twenty to thirty thousand bankers could lose their jobs for many it's a forced marriage for political reasons the two beleaguered banks will have to see what other advantages they'll have besides saving money. well for more on the possible merger i'm joined now by stephen bears away from business good morning stephen morning this mega merger why are the talks taking place now where on this is been going on for a while these talks have been in the sense that the rumors that this is something that's going to happen has been going on for a while and and commerce bank have even looked at this in the past they both wanted to improve their balance sheets before they actually took this stuff but the reason why there's so much pressure for it to happen now is because the economy is souring

j.p. morgan chase and so it wouldn't be the biggest bank in europe i don't think and that's if it even happens and of course we don't know what the knock on effects of this merger would be in terms of a reduction in the overall size of the institution ok this is questions out there about whether this is economically or politically motivated the german government retains right now commercial banks shareholding strong position it has fifteen percent stake in commercial economic or political decision well from the from the government's point of view it's motivation is political i think the german government says germany ought to have a national champion in banking to be able to. play on that global level like some of the economies are germany's europe's largest economy so that would make saints and they've been driving it forward for that reason they would look very positively as you say they were able to influence what commands bank particularly does is they owned a significant stake in it they can also certainly influence the thinking of deutsche bank board so it's and there's political will th

j.p. morgan chase has relented to a campaign from critics including immigration justice activists and declared that it will stop it will stop investing in private prisons and retention centers j.p. morgan has financed both the city c.e.o. group and the core civic group the two largest private prison and detention center companies in the us j.p. entered into a partnership with bank of america and wells fargo back and last year and twenty eight hundred to raise one point eight billion dollars in debt the bank has been under fire over their complicity in an unjust immigration system here in the us most pacifically the policy of torturing children by separating them from their families nearly two thirds of detained immigrants are held in for profit facilities while only ten percent of prisoners produce profit for the companies by simply filling the cells. and today we look at. key energy commodity natural gas and there's a major move to the tune of twenty seven billion bucks being made with a humongous natural gas pipeline carolina's expertises energy historian doug ellin boss who joins us from gr

j.p. morgan chase researchers think that disney does they will ultimately stream more than the current sultan of streaming netflix the company netflix has been doing pretty well for the past year trading coincidentally at twenty for the last year they are at three hundred sixty five dollars per share a great price when you think about it over the year what do you make of netflix. so i love netflix here i mean next netflix has been the leader as far as digital streaming as concerned i'm personally a long necked flicks i like it for a trade up until at least the four hundred dollars price point and ideally to new highs the thing that netflix has behind them is that they they really started this game right and they're going about it backwards in a way that now they're creating their own content well disney is doing it the opposite direction disney has been creating their own content for years and years and years and now they're going to go and create that streaming service so i actually think that net disney is going to have a leg up here and they're going to be huge competitors and i like them

j.p. morgan chase member they're starting their own health care venture well it seeks to improve health care systems and patient experiences it will be called haven and haven c.e.o. surgeon and public health expert a tool go one to outline the group's mission in a newly launched a website mr de wandy wrote quote we want to change the way people's experience health care is so that it is simpler better and lower cost investors in industry have been extremely curious and anxious to hear more about how havens deep pocketed sponsors plan to reform social structure is why i've only only as u.s. health care system which has some in the highest cost areas in the world and we're well below of course well very well the low those outcomes they're well below world class certainly haven's three corporate partners have one point two million workers with a patchwork of different forms of levels and medical care. and claire is the american julie and cosmetics retailer and girls a younger woman is stores in more than thirty four hundred stores more of the thirty four hundred stores in more than thirty five n

j.p. morgan chase cutting hundreds of jobs in its assets and wealth management. 28,000 people at the end of last year, 4% more than in 2017. j.p. morgan cut jobs in august when it cut staff from asset management. it will continue to invest. haidi: it could pay off to invest in a good nights sleep. mattress retailer casper the latest to join the unicorn club. 100 million dollars in funding at a $1.1 billion valuation. casper is turning its focus to expanding and asia. bank: a construction profiting. profit rose more than 5% last year. they adjusted policies to support the growing economy. china's five biggest banks set to report their strongest annual profit growth since 2014, upsetting the effects of the wider economic slowdown. take a look at how asian markets are faring in this early part of the session. the opening of trading in seoul and tokyo. downside on aussie stocks, down 5%. .5%. -- 0.2 nikkei futures looking negative. shery: plenty more to come on daybreak asia. we will be joined by the chairman of astrazeneca for an exclusive interview. the market open

morgan see how much j.p. is putting out and research notes going forward. a quick check on the latest business flash headlines. j.p. morgan chaseeparing for a no deal brexit scenario. aroundk reportedly wants 300 london employees to find fresh contracts of eight deal is not reached. some employees will have to decide if they move to a different eu country or risk losing their jobs. offered to amend its debt documents. the pet superstore heads to quell concerns over an asset transfer. petsmart is reportedly willing to tighten its credit agreement --existing lenders obligations. a dispute with at&t. the deal would have kept millions of at&t customers from seeing cable channels such as nickelodeon and mtv. tension between carriers have increased in the age of cord cutting. that is your business flash. speaking of deals, rapper and actor ice cube is teaming up with serena williams, snoop dogg, and kevin hart in a $10 billion bid to buy a regional sports network from disney. the ice cube dream team is competing with major league baseball and sinclair broadcast. generate newing to youth oriented content. it has got nas involved, ll c

j.p. morgan advisor can help you. visit your local chase branch. remember the way we used to do things?... like connect with friends? dig it! or get in shape? or sell a house and pay a real estate agent a big commission. [crash] at redfin, we charge you a 1% listing fee. and because redfin.com is america's #1 brokerage site our agents get more eyes on your home so you sell for thousands more than the one next door. don't get stuck in the past. sell with a redfin agent. >>> we have another look at some early morning rain we had in the bay area. you can see cars out overnight on camden avenue east. the ground was wet and windshield wipers were going as moderate to heavy rain came down on those windshields. >>> this week the san francisco symphony is hosting thousands of students in the area for a concert for kids series. it introduces children to symphonic music. i got to go to the symphony hall the other day to check it out. >> reporter: with a lot of excitement outside and it's before the concert i caught up with the conductor who was about to face a tough audience. backstage at the hal

j.p. morgan chase says there is little chance of a short-term impact but further ahead, they see a disruption that may affect the makeup of gdp to rising inventory, less investment, and fewer exports. boeing continues to build a plane but says it will begin slowing production as of next week. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. sue, breaking news. elliott management failing to get shareholders back in here when it comes to his proposals to raise the dividends, a combined $6 billion in dividends in a proxy battle against the south korean auto group. one of the most contentious issues was of a board shakeup at the carmaker and its biggest shareholder. voted in favor of the company's dividend and independent director's proposals and reject elliott's calls for a divided increase. we are seeing shares slightly lower today. down to 123,000, the share price at the moment. of of the other big stories the day, eu leaders are offering theresa may a brexit delay until april 12, and not as long as she wanted. she fl

j.p. morgan chase said to be cutting hundreds of jobs in its asset wealth management division after a periodicof starting levels. the bank employee nearly 24,000 people at the end of last year, 4% more than in 2017. jp morgan cutting jobs in august, when it dismissed 100 in asset management. haslinda: on to the markets. india's markets got open. let's get to mumbai. take us what to expect. how is it looking? >> a little bit of a positive. when i say a pause, a pause in the up move we have seen. we are looking at subdued queues coming in. little than one quarter percent on the nifty. banks, which has been the focus, and also the reason behind the strength over the previous days,r is seeing a flat-ish move. we are seeing a lot of gains in sectors other than banks, metals and consumption stocks. when it comes to the indian rupee, we are seeing weakness against the u.s. dollar, which has climbed. we will keep an eye on that on as well. rishaad: thank you. times are changing in the chinese fast-growing electric car sector, with the government announcing a deeper than expected cut in subsidies. vehi