francine: coming up, jon cryan spreads across as bonuses are cut it europe's biggest investment bank.ll talk deutsche bank and we will go live to frankfurt. ♪ let's get straight to the bloomberg business flash. nejra: bp won't have to face lawsuits by energy and oil service companies that had blamed the energy group for losses suffered during the ban offshore drilling imposed after the 2010 gulf of mexico oil spill. one of the largest the remaining categories of claims bp faced. the company has paid out $55 billion. deutsche bank is in talks for jpmorgan, goldman sachs, and citigroup to sell the last batches of one trillion euros in complex financial instruments. deutsche bank has sold 2/3 of the portfolio of credit default swaps since last year. justice department have apple have ratcheted up their battle over access to a terrorist iphone. prosecutors say the company's argument against helping the fbi is undercut by its own assistance to china. apple responded saying the government is so desperate that it is resorting to conspiracy theories. authorities told a judge yesterday that ap

jon: you could pull up deutsche bank very quickly. john cryan speaking in london at the moment. he says this year will not be profitable. this year will not be profitable. i think for many people that confirms what they expected for 2016, but a big headline nevertheless. down 3.9% as i see things right now. for those who said we are seeing stabilization, a turnaround, when you look at voices like that, the ceo of deutsche bank and ubs saying hold your horses, that is definitely a sober moment. pull bloomberg up behind me and you can see what happened to the stock after john cryan made that statement. this isy a big drop or a live cash trade. frankfurt is open. so deutsche bank is falling this morning, and the bank stocks are such heavyweight that they really pull up, they really pull down the indexes. take a look at some of the stocks that we are watching today. oracle came out with a profit that beat analyst estimates. sales were roughly in line, but the component of sales that come from cloud computing was a strong gain. stephanie: that was always a question. can you see oracl