>> 100 years ago jp morgan, whose legacy resides today in jp morgan chase was called by teddy roosevelt to save new york from a big bank panic, sound familiar. jp morgan did was they were going to pull everyone together and we're going to save things. we're going to save our friends. >> and the stock market was not dominated by retail. these were rich people. >> these were rich people, they take care their own, but they are also aligned with teddy roosevelt. there was a trust from teddy roosevelt to jp morgan to take care of things. that started a whole evolution of what i call the financial era of capitalism. you fast forward to a number of years. you have the world war. a crash in 1929. other bankers and presidents are in place. fdr, rose set is a friend of a big banker running chase at the time. they worked together which a lot of people don't know to passing is called the glass-steagall act which separated risk taking at the banks from the deposits of ordinary people who were running to get their deposits out because the stock market was crashing. >> many people think that was a gre

>> 100 years ago jp morgan, whose legacy resides today in jp morgan chase was called by teddy roosevelt to save new york from a big bank panic, sound familiar. jp morgan did was they were going to pull everyone together and we're going to save things. we're going to save our friends. >> and the stock market was not dominated by retail. these were rich people. >> these were rich people, they take care their own, but they are also aligned with teddy roosevelt. there was a trust from teddy roosevelt to jp morgan to take care of things. that started a whole evolution of what i call the financial era of capitalism. you fast forward to a number of years. you have the world war. a crash in 1929. other bankers and presidents are in place. fdr, rose set is a friend of a big banker running chase at the time. they worked together which a lot of people don't know to passing is called the glass-steagall act which separated risk taking at the banks from the deposits of ordinary people who were running to get their deposits out because the stock market was crashing. >> many people think that was a gre

jp morgan and jp morgan chase there is a legacy. >> why don't we -- >> i will wrap up. the point is these things have a long tail and there is a lot of blood and connections and relationships and everything that manifest in policies that come not from wall street to washington and washington and wall stret but it is one box of power which is shared by different groups of people that have incredible philosophical, political and financial ties. >> okay. why don't you take it from there. [ applause ] >> i come in as an academic. i teach finance at stanford business school. i awoke like everybody else in fall of 2008 and before that wondering what was going on and why is it that this industry managed to harm so much. and the more i look the more of a falling in the rabbit hole it was. two great pieces of literature are alice in wonderland and the emperor's new clothes which ended up being the title of the book. it ended up being men so the ties covered enough. i could not believe what i heard and what i didn't hear. what this non-sense was. the more i looked and read and th

what do you think about jp morgan? >>jp is a little bit different category.more of a money center bankmore reliant on trading than underwriting like wells is. certainly from the trading sidefixed income especiallyhas languished to say the least. i personally think jp morgan given the run up its had to proceed with caution even with a little bit of a selloff recently. i look for lower levels on jp and the monet center banks in general. >>we will watch for both of those earnings coming from wells and jp morgan today. also, it's been an insane week for tech trading. how are you positioning? how are you hoping to profit? >>on these i'm actually taking a short term bearish position on the names that have collapsed. up around the old highs, i'm selling out of the money call spreads, looking to collect some premium. really thinking that the run to new highs will probably take a while to say the least given the fact that relevering here and that momentum seems to be waning on these names. so i look for those big tech names to p

a new filing shows jp morgan cut ceo jamie dimon's pay to $11 million last year from $18 in 2012. florida's orange crop will be the lowest in decades according to the ag department as a deadly greening bacteria infects trees. and northwestern starts the process of appealing the ruling making it possible for football players to unionize. joining us now is trader todd horwitz of average joe options. i love to tease todd because he's the most bearish i have ever met. good morning big bear. >>what's up? good morning to you. >>what did you think about those fomc minutes? and the rally that ensued? >>i think the fomc minutes were exactly what you expectthat the fed was going to try and take back what they said and what janet yellen said after a last meeting and say that they weren't going to be in such a hurry to raise rates. but i think more importantly, the rally really came off of 1840 in the s&p, which is a level we've been trading back and forth for about the past 3 months. other than that dip down in january, 18.40-18.80 has been the level and i wouldn't be surprised to see us get

jp morgan and some of the financials definitely disappointed. however, general electric came through with what a lot of analysts thought was a pretty good number. so we're really going to have to wait and see what happens tonight, tomorrow and next week to see if in my opinion, the companies can squeeze out maybe just a couple percentage and earnings growth for the s&p 500 for this quarter. >>did ibm and jp morgan give you any guidance? >>ibm had reasonably good guidance last week. just however, another quarter of revenue declined even though they tend to make that earnings number . jp morgan suffering from a decline in mortgage originiations. all of these sectors have some mixed results. i think we're just gonna have to see what happens after all earnings season is weighed out. >>matt shapiroyou have a good day out there. >>thanks bill. and with that, you are up to date. tomorrow, are companies going too far to limit lawsuits? why corporate america's "fine print" is under fire from consumer groups. i'm bill moller. from all of us at first busin

jim glassman with jp morgan chasethanks so much. >>thank you. coming up...chart talk when we go over one of the most anticipated reports of earnings. and, johnny depp - what happened? we'll pick through the wreckage of his latest flop - transcendence - after this. johhny depp is testing the waters of failure once again. 2013's big bomb was the lone ranger in which he starred. erik childress, our movies & movies man and board member of the chicago film critics association - now, johnny d's done it again starring in transcendence. >>yeah this is 3 in a row for him. you mentioned the lone ranger and the year before that, dark shadows didn't do very well. now you have another high profile filmpeople don't get tired of movie stars so much, they get tired of stars making bad movies. that's the case with transcendence which was very horribly reviewed. >>let's take a look at the top 5 in the box office. the top is captain america for the 3rd week in a row. unbelievable. heaven is for real, rio 2 with 22 million, and there's transcendence with just under

i had to go with my paper statement and convince jp morgan chase, at the time it was bank one, to let me get the loan. that is one solid piece of advice. another is keep more than two days of food and water in your pantry. if the electric grid were hacked and taken down it might take a week or ten days or longer if it were a serious attack like an emp. keep a little food on supply and hand. we live in a just in time society. but we are the only nation in the world that doesn't have access to food or water beyond a day or two. i am not talking about being crazy and moving into the basement as a preparation. and prepers seem less and less crazy to me all of the time. but i am talking about keeping a week or ten days worth of food supply on-hand on a regular bases because if something goes down you need to eat. you need a gallon per person per day in the household. this could happen from hurricane sandy or katrina or flood or fire or a natural solar flare that could wipe out our eelectric grid for a short time or long time. so keep a little food and water on hand is practical advice two.

>> look at jp morgan chase, they're expecting a 10% decline in eps this quarter. this would be the third straight quarter they've had a year-over-year decline in eps if that's the case. the financial sector is really interesting sector. this quarter it's really a middle of the pack quarter. it's expecting a decline of 1.5%. last quarter it was the leader in growth at about 24.5% due to strong results of insurance. if we look ahead in the second half of the year, this is one of the sectors really expected to see a pickup in earnings growth in the third quarter and fourth quarter. we'll certainly keep an eye on the guidance and commentary from these companies as this is expected to be one of the best performing sectors in terms of earnings growth in the second half of the year and for all of 2014. >> our quarterly visit with john butters, thank a lot. >> thank you for having me. >> john is with faxet. >>> still ahead, last minute surge. a target once thought out of reach was met. 7 million people have signed up for health care insurance under the affordable care act

citigroup is trading seven times book, roughly, compared to a premium of one-times book for jp morgan 1.6 for wells fargo gives you a sense and on top of that, citigroup is trading at a discount on bank of america on a price-to-book basis. purely on valuation it looks cheap. and mike is relatively positive on what citigroup has been doing, the fraud at bantam x, the failing of the stress test, notwithstanding. he went in the annual meeting with something of a positive mind set. you'll get a sense for how he felt after listening to mike o'neal and michael corbat. >> they were responsive to a degree. i'm satisfied but not completely satisfied. one of the biggest questions related to the reason they failed the fed's stress test, and i can't say i received a whole lot of new information. i think one issue with that is the federal reserve needs to disclose all the information to companies that failed the stress test before the annual meeting. on the other hand, i was reassured about the restructuring story at citi and they stressed emphasis on cost control, bringing down city holdings, the

california jp morgan comes out and the newspapers the call and the chronic and examiner borrow the presses so print a special joint edition and responding to a telegraph message the- it repetitiveness van ness avenue and facing the decision to pull his city to pieces the mayor agrees to let the army has a firebreak to stop the imagining first one and many of the blocks were that finally realize their homes about burden and 5:00 a.m. the next day the inferno is hallucinated and mayor sxhith announces a broke and there recent an unprecedented evocation and saturday frill 21 after all the flames are diminished the mayor declares it over and sunday cable cars begin to run again on market street 18 now today no one knows when the next earthquake will come but san francisco is doomed to come again, it may strike tomorrow but maybe tonight as the city sleeps thank you very much. and now before we move on it it's a appropriate to have a proclamation to have read by mr. norton >> thank you, thank you. whereas today marks the one hundred and 8 history of the 1906 san francisco earthquake the definin

a lot of this got going this morning when jp morgan chase issued a disappointing earnings property andting mortgage lending report saying that side of its business was down better than 60%. so,

> jp morgan wasn't advising in this situation, if you want to call it, right? find somewhat ironic. it would appear as though jimmy lee helped to bridge the gap between donaho and icahn. >> it's a bit ironic. it sort of tells you something. i don't know. frankly, it's incomprehensible to megoldman sachs, which i don't think they're bad guys. i just think they have the wrong approach to this corporate governance thing. i would love to talk to goldman sachs. i would love if they reached out to us, but they never did. and it's just ironic -- i think it's frutuitous, why don't you settle? you're a good guy, donaho is a good guy i said i would be willing to talk. jimmy lee did a great job over that weekend back and forth, back and forth as a catalyst. it's not that i have anything against goldman, but that's one of the things wrong with this whole path set of shareholder activism. >> right. >> there shouldn't be wars. the war doesn't help you. you know, the art of war. your best way to win it is not fight t i think this is a win/win. as far as i'm concerned, i think

last friday-- jp morgan triggered market jitters after missing the mark on earnings, as the bank's bond trading revenue plunged 21%.the stock fell -- $2.00 wells fargo's however, was the only major bank to eek out a rally friday.profits at wells came in stronger than anticipated. the ipo calendar is sizzling...the big winner last week: fast casual restaurant zoe's kitchen, which shot up 65% from 15 dollars to 24- 67.animal pharma company phibro animal health traded around its opening price of $15 dollars.next week brings tech travel company sabre corp. it expects to price between $18 to $20 dollars, trading under symbol "s-a-b-r"social media platform weibo corp, planning to price between $17 and $19 dollars, trading under "w-b"and investment bank moelis & company, expecting to come in at $26-29 dollars and trade under symbol "w-c". a warning is out about fees that could kill your 401k savings.a new study by the center for american progress finds.. the typical american stands to lose $70,000 after putting money into a 401k account over a 40 year career.it's because of high fees.fees are

months in addition better than expected earnings from citigroup help set a more positive tone after jp morgan's disappointing earnings last week. marcus stone was also likely held by the ecb president mario driving getting more signals over the weekend that additional unconventional monetary policy actions may be in the works. psv five hundred closed up over a tense of one percent energy and technology led the sectors today with no sectors lower on the day the dow jones industrial average was up over nine tenths of one percent in the nasdaq snap back by almost six times one percent after being roughed up last week. the ten year treasury yield closed up almost two basis points on the day at two point six four percent but is still not far from the lows of the year. you seem to continue to be kept lower this year by a combination of one geopolitical risk an emerging market worries driving an investor demand for safety and to the weather hobbled us economic growth in the first quarter. increasingly market volatility may be the watch word for the week with ukraine likely to remain in the news. with

defendants include the new york stock exchange, nasdaq, jp morgan chase and bank of america.suit claims they and other firms routinely engaged in quote, ma minute los angeles tiff, self-dealing and deceptive conduct. among other things it says that provided details of their clients' offer to his buy or sale stocks to high-speed trading firms which profited at the expense of providence and its investment funds. no comment from any of the defendants. the suit says the alleged scheme allowed some market players to get nonpublic data that gave them an informational advantage to manipulate the u.s. securities markets. now, the claims providence is making willing have to be proved in court, but this suit is just the latest blow against a group of traders who come to dominate the stock market. high-frequency trading accounts for half of the 7 billion shares of stock that are traded on u.s. stock markets every day and most americans don't understand how it works. and that is a problem. because the stock market is where much of your 401k, pension, or moval fund portfolio is probably i

but more and more major law firms and finance companies like goldman sachs and jp morgan are offeringk paid internships to help women get back to work. >> this is certainly, i think, a pool of talent that is untapped. just because individuals have been out of the work force for a period of time doesn't then they are not capable and strong. >> regan auto is one of 13 people in the real returns progr program at credit swiss. she's been taking care of her sons. >> it is hard when you've been out of the work force for a while. things have changed, things work along quickly when you are out of the work force. and it is tough. and for a lot of places people worry you are busy with your kids and not be able to focus and concentrate on going back to work. >> on the in the program, regan is doing everything from excel and powerpoint training and she works on business projects based on her expertise. >> things like this can make people feel rested knowing the opportunity is there to take some time off if that is what you choose and not feel bad about it if you want to come back to the work forc

that you knew well, is it impossible to be a british universal bank and compete with the likes of jp morgannd bank of america and citigroup and morgan stanley? clock's -- >> that is a fair question and i think time will tell because that is a question in lot of people are asking. i think the answer is yes. i think barclays footprint in is anvestment banking area top-tier footprint. management will find a way to continue to benefit. >> they are being forced to back away from that footprint. barclays isn't alone. look at the situation rbs is in. >> i think if you look at the very top investment banks in the world, they all have challenges. the most successful ones are going to be successful for decades and decades and decades. we are still working through the challenges of much lower volumes. to see these challenges over the next couple of years. i guarantee you investment banking as an industry will be a robust business for decades. >> says the guy who does not seem to mind running a british bank any longer. >> he seems to be having a good time. >> bob diamond, it is great to see you. we wil

>> jp morgan's revenues were down 8% from the prior year. the industry is on pace to have the worst revenue growth in eight decades. it's less about what's their revenue growth versus what are they doing differently. referring to ubs, citigroup needs to do a ubs. you can't make it on the top line the only way to make it up on the bottom line is to restructure. >> do you think this is priced into the stocks or are we going to see another decline. >> look out, this revenue pressure is not over. mortgage originations are at the lowest levels since the 1990s. that gives the banks an incentive to downside their balance sheets. we expect another half a trillion reduction in bank loans over the next few years just from the run off from the crisis. looking at the banking industry bottom up, this economy is not humming. >> so the financials are really the big lagger here. i want to ask you -- >> conversely, investors should not be display mayed. earnings improve. >> bob, i got to get to you on taxes. tuesday is tax day. if i haven't filed yet it's mo

exercised poosh judge pment for allowing him to collect his government salary even as he worked for jp morganated potential conflicts of interest for the agency's financial investigations. it is the latest in a series of miss steps for the atf. director todd jones expected to testify before congress to talk about the issues tomorrow. >>> a manning who fired an assault rifle will spend 23 years behind bars. here's the picture 23-year-old oscar ram row ortega hernandez fired 8 shots on the white house. he caused nearly 100,000 dollars worth of damage. his lawyer said he was suffering from extreme depression. >> the final message from the come pit of the plane was all right good night. it turns out they were wrong. his actual last words, good night malaysian 370. >> officials aren't sure if it was the pilot or co pilot who spoke the records. they wasted three-days because of poor coordination. >> the medical examiner released the names of 18 people that were killed. the number who died was up to 24. 22 are still accounted for. >> they are getting a brake from the rainy weather. the search is sti

it includes a top official to collect a government paycheck while on leave to work for jp morgan. one and done while you were sleeping vincent gray conceding the democratic primary race. he lost a bid for a second term to city councilwoman mirial bowser. he is at the center of a campaign finance. he will face independent candidate david cantonea. >> an incredible sight coming out of the devastation. an american flag pulled from the rubble and debris by a member of the washington guard. it is still in one piece. it can't be flown because of a condition. guards men are flying a clean flag. it is up to 28 and 20 are still missing. receiving flood waters are helping the search allowing crews to get to remote areas. >> from texas to illinois residents are bracing for potentially dangerous storms. there could be tornadoes in some areas. they are tracking that threat and she has the latist for us this morning. >> good morning heather and ainsley. the three busiest months are april, may and june. right on schedule we have a storm system we see tornadoes damaging winds and large hail to pa

after jp morgan reported earnings. stocks took a beating yesterday.ow suffered it's third biggest loss of the year. the nasdaq has come back a few points today. >>> new developments this morning on a serious threat to your personal information online. it is afefecting major websites that you go to. google, facebook, yahoo! okcupid, and more. >> so the search area getting smaller. so is the zone small enough now to look under water for flight 370. that is ahead. the great american novel. so you can happily let life get in the way, while planning for tomorrow. so you can finish the great american novel banking for the life you have investing for the life you want chase. so you can ♪ turn around ♪ every now and then i get a little bit hungry ♪ ♪ and there's nothing really good around ♪ ♪ turn around ♪ every now and then i get a little bit tired ♪ ♪ of living off the taste of the air ♪ ♪ turn around, barry ♪ finally, i have a manly chocolatey snack ♪ ♪ and fiber so my wife won't give me any more flack ♪ ♪ i finally found the right snack ♪ ♪ [ female annou

cisco, jp morgan had an analyst reiterating say henesses a macr backdrop for major emerging markets.t's human for cisco. they represent about 8% of the networking giants ever the revenue for that company. so that is not good news and overall, the tech spector has been the weakest of the ten we follow so closely. back to you. >> thank you, nicole. well, should people start calling him the anti-bomber. new basically ceo is leading his first build developers conference when the company unveiled the windows phone 8.1. take a look at microsoft's stock since he took charge. it has jumped 9 proceedings, hittin9%, so under hisleadershis will the company finally be able to compete with the likes of apple and google and get the fool factor back. we bring in bill george, harvard university professor management practice, a former ceo and it is fox business exclusive. welcome to the program. thanks for coming on. >> liz, it's great to be back. >> isn't it interesting that santian was the name people never foot at the forefront at the race for the leadership. i'm sure there was a bit of concern wh

jp morgan, morgan stanley -- morgan stanley did a total transformation last year. on -- all the time. >> these are complex institutions. >> no doubt. >> these would be easier targets for activism if regulators had not allowed these banks to combine and become as large as they are? -- each one ofk those banks that i mentioned has its own model and it holds together today very well. it did not hold together well five years ago. people are moving out of things that don't make sense. we are looking at returns in every single segment of the business. i can assure you. and it is paying off. you can see the disparity now. >> to some degree they are too big for activists. so, when you get to the largest sized bank, two dollar trillion in active -- and assets? >> it is not just getting your head around it. it is economies of clout with banks that size. >> much you want americans to be able to compete on that scale. you want people in apple who can complete -- compete on a global scale. this is a dominant field. you want to be able to serve customers around the globe, not ju

i had to get jp morgan to get had loan. >> host: the $50 million? >> yes. my payment to them is probably $138,000 a month. so people say i got the loan but that is debt. you have to improve the programming, the operation. i am all over the country for the last several months. catering to the local market is very important. i agree with the fcc in that. in the myrtle beach market we have been doing town hall meetings where we are not paid and no advertising or sponsors but it is something we want to do. we did a town hall meeting on affordable care act and just within the last week we went back and did a town hall meeting on domestic violence where people called in and real life-threatening situations and we had the chief of police and the attorney general from the state of south carolina, mike wilson, and sandra rose, the chief of police, was there to help people out of the flightening situations because south carolina leads the country in domestic violence. we take the situations to the community and empower them. in flint we do shows because their budget

last year jp morgan chase paid $20 million in fines overall, but somehow had enough leverage to get $20 billion out of that company, but not enough leverage to have one individual do one day in jail. >> $20 billion, and you think about, like, what kind of wrongdoing would you have to do to end up with $20 billion in fines. jpmorgan chase figured out a way to get there. >> and they were all over the map. rigging energy prices in a couple states to being bernie madoff's banker. they were everywhere. and we are -- it's now essentially the law of the land, the collateral consequences is what we're going to do when we deal with companies this size. >> at the other end of the justice system, we have a justice system that does an amazing job of taking people and making them criminals. >> right. essentially what we do is we throw a net over low-income and especially minority neighborhoods, and we -- especially with policies like stop and frisk. we bring in everybody, but we're looking for our guns and warrants, and if they don't have those, we're supposed to throw them back, but we often don't.

we did get a horrible quarter from jp morgan. truly terrible. i can't help but think that the business got away from them because the company is under such regulatory pressure. there's no other way to say it. i'm deeply disappointed but wells fargo reported what could only be described as a fantastic quarter with amazing growth. just superb. eye opening. the largest bank in the country, the best run had double digit everything which tells us we're doing very well here in the united states. wells fargo is truly america's bank given that it doesn't even pretend to be an investment or trading bank. it's a lender. and lending is going gang busters. citi group took a day off today but can we stipulate this was one of the break out quarters that takes your breath away that shows you that citi ought to get the regulatory in order. all the black holes are disappearing. the quarter was sharply better than expected on both the bottom and the top lines. even the bears had to acknowledge that. plus yesterday we got two of the most picture perfect quarters a

jp morgan, chase. citigroup.their systems over but if you use a regional or community bank that doesn't have the deep pockets to pay for personal support from microsoft or pay the thousands of dollars, you should go in and ask to make sure that your card will not be compromized when you are using the atm's. 13 year old system and we are getting to april 7th and we still need more time. when you talk about security concerns will you talking about hackers coming in and stealing pin numbers and money from their checking accounts? >> we are. that is one of the risks sara. microsoft is no longer updating the security for windows xp. it won't be coming of age as moiz microsoft is getting the capability there. they want them to start paying more for the system. but you can be sure that banks don't want to have those vulnerabilities but it is interesting that we have gotten to this point. >> correct me if i'm wrong, but most of the bodegas are owned by independent companies that are running those atm's? >> yes, they are

it's interesting, what they say is the regulatory environment is such that i was just reading the jp morgan chase, obviously a big target in this. they are talking about the amount of time and energy to comply with new federal regulations, they'll make the argument that the economy is in a good place but it could be doing better if not for the uncertainty surrounding new regulations and what that means and also health care. >> and "meet the press" on easter sunday as well, we should talk about just the religious holiday this weekend, who do you have? >> we'll be talking about health care and the president's kind of political standing and also the crisis in ukraine, the ukrainian prime minister will join me exclusive and we'll also hear from senators corker and murphy on u.s. strategy here, is this something the president has been able to defuse or is there more ahead? >> a lot ahead on "meet the press." thank you so much, david. >> thank you. >> the tragedy at columbine, 15 years later. an intimate look at one survivor's journey through grief and healing, all part of a new dateline special.

earnings later this week including alcoa, jp morgan chase and wells fargo. >> facing off in the final seven seed but just four years ago they won it all. kentucky won the title two years ago but this year they are led by a all freshman starting five. they came into the tournament as a number eight seed. >>> and the most promising lead yet in the search for malaisian airlines flight 370. we will answer your questions on the flight route and search. the owner of a vehicle, with a bumper sticker, "turrible" your lights are on. you wanna get that genius? not mine. on the passenger seat, there is a collection of charles barkley highlight dvds. must be a big fan. and the license plate reads "sir charles." i'm gonna get some drinks with my capital one venture card. be right back. earn unlimited double miles with no blackout dates from the capital one venture card. forgetting something, sir charles? what's in your wallet? hey there cashhhhhhp you? (whispering) sorry hi, uh we need a new family plan. how about 10 gigs of data to share and unlimited talk and text. oh ten gigs sounds pretty good

a lot of this got going this morning when jp morgan chase issued a disappointing earnings property and a disappointing mortgage lending report saying that side of its business was down better than 60%. so, take that on top of the news that came out yesterday, that bed, bath and beyond was seeing a slowdown, and more slowdown this year in the amount of folks who just go shopping there, and now concern that maybe this has to do with the fact that lot of people don't need to get stuff for homes because they're not buying those homes, and now you can sort of piece this together and get a sense of what is really happening. there's another factor we're following very closely. the biotechtocks have been beg leaders for a long time, and they, like the internet stock have started slowing down. the biotech index is down for the seventh straight week. it's still very high, especially compared to a year ago. but i only hasten to add that because we have not seen it fall seven straight weeks in a pattern like this since 1998 when we were in the middle of the big boom. we're piecing this together. i

whether it is visa, mastercard, jp morgan. a little bit of pressure or at least confused.ffecting the investment community, what we have seen so far? declined intite has this crisis. people are waiting for more sanctions. the market has been pretty bad. flows. aabout capital clear risk. >> is it getting worse? if the crisis disappears from , in the coming months, do things get worse for russia? >> the market is not expensive. time, we can draw a negative picture for russia. --e companies will have >> but stuck about china. you have a fairly gloomy forecast for the chinese economy. . you suggest they could see grow falling as low as five percent. the government is talking about something like 7.5%, the last -- the same as last year. would five percent ring alarm bells? works for a lot of people, it would be a problem. -- it is aere is a soft landing scenario. angrowth will be guided in orderly way. at thehis will be discretion of the chinese ?overnment parks it is more likely they have to accept lower growth. >> cracks are developing in the shadow banking system question ma

thank you for your jp morgan report. ♪ >> good morning, everyone. 8.2% of people living in that viewour juice cleansing as we speak are. i will be juice cleansing -- why am i doing this? >> it is good for you. >> it is "bloomberg surveillance." a beautiful day on the island of manhattan. a lot to talk about. to company news. it is number one for a third straight quarter. they are outselling every other company thanks to rising demand. toyota sales increased six percent. general motors and volkswagen selling about 2.4 million vehicles. deutsche bank is shaking up its latin america business. it is reducing its equities team and may cut its equities group entirely. staff as eliminate part of restructuring. a prediction of massive job cuts at barclays. they could/7500 jobs. about 5000 job losses could come incomes fixed currencies and commodities business. that is today's "company news." can blame drought, disease, and demand pushing food prices higher. fruits and vegetables are facing some of the highest food hikes we have seen. kale caesar salad's are hot, but berries are even up 14%.

jp morgan is in a little bit of it. goleman seems to be the one that is really committed.ve the other alternatives that are growing. >> can you tell me where is the sexy left? he'll are the heart is, smartest, richest people? people want to be just like glencore. if you have seen them shrink in where areof distress, the highfliers? >> we have talked about this a lot. there are fewer and fewer business lines for them to show topline growth. buying get aly lower and lower profitability. to ask why they are getting out of it. considering all the risk a lot of them have been in it. the fed has wanted to push them out. it is more problematic. arehave these who grandfather. it is going to be hard for the fed to craft a role that is uniform. relative to bank of america, citigroup, j.p. morgan. as much as anearly deposit taking institution. sameu still have the problem. we think of the new york fed as the most interested in protecting the turf of the banks. on the commodity side -- >> who sits on the new york fed? >> that is right. you are seeing them seemingly take a different to

earlier this week news broke out about a jp morgan report in which wall street analysts apparently recommended the cable companies continue to raise prices on consumers, and as you have admitted, prices might go up even faster. we've talked about your comment. mr. cohen, don't your investors, people invest in comcast, expect comcast to leverage its market share by getting as much money as it can out of consumers? >> i think our investors want us to have the best multi-channel video and broad bant business in the country, and i think that includes getting whatever prices the market will bare, but it also includes providing an xeerdly high quality video and broad bant experience, and i think we have made -- you can look at our analyst calls. we have made it a point of significant discussion not only for us, but for the entire cable industry about our need to continue to invest to be able to compete better against national and global competitors who are increasingly coming into this space. where he to your question, but also to be fair, yes to the business reasoning underlying this transaction, w

blake masters built jp morgan's commodity business. banks are dealing with increased scrutiny of the hard assets. this is bloomberg "surveillance." streaming live .n your tablet we will be right back. >> good morning, everyone. futures up three. dow futures up 25. with me is scarlet fu and adam johnson. >> this comes from " the new york times." here is what he said -- kate more of jpmorgan am a you used to run emerging markets with lewis bacon. you can look at the u.s. and emerging markets, how do you think this compares? >> there are parts of the economy that have not had a real fire in their belly. beenps not -- perhaps not innovating or investing in the way they should. indicating they really want to compete on the global stage. >> which sectors get it right? >> i would say tech. what you are also reflecting from that article is places like china are not happy with just where they are. they are looking forward, planning forward. they may not like the transition or like how it plays out, but at least thinking about the next leg in th

heard center, we have from wells fargo and jp morgan.up reports on monday and bank of america am american express on a wednesday. morgan stanley and goldman sachs in a short week. markets will be closed for the good friday holiday. according to a bloomberg surveys, chavez from the five biggest banks probably fell to $16 billion down at 4% from a year ago. the frayes are joining include tech giants google, ibm, and general electric as well as coca-cola and pepsi. maybe a short two week, but certainly packing in a lot in the four days. twochair janet yellen have speeches planned. one of tuesday in a vent sponsored by the atlanta federal reserve a while before the economic club of new york. the second speech before the federal reserve releases is the age of book summary of economic weeks before its policy meeting. a retaila includes sales. according to a survey, we likely sign up take in a march boost about the warmer spring weather. the same story for housing and building permits. initial jobless claims on the other hand, economists expect

. >> it was just yesterday, moshe ceo'sch, then jp morgan jimmy duncan put out his annual letter.be -- jamie dimon put out his annual letter. he tends to be candid. one thing caught my eye -- the case for the universal bank. generate $15gan billion of additional revenue every year by combining additional businesses and saves $3 billion a year in shared expenses. do you buy the math? >> i cannot trace the $15 billion, but i know it is a large number, and jpmorgan clearly does the best job of any bank in actually achieving that. he has a better handle on those numbers than we do, so i would take that from him and accepted it, but i would say absolutely. they are the ones that are the standard bearer for the effectiveness of the universal bank. >> moshe orenbuch, i am looking at your coverage universe, and wondering to myself, which make do you believe is most strongly positioned heading into this challenging year with the factors that we cited, driving mortgage production, interest arjun impression -- who stands out? >> jpmorgan stands out because her execution has been -- because t

. >>> jp morgan chase stock up 0.4%. >>> and up next, find out why mark zuckerberg and cheryl sandburgringing home a little less bacon. details on the drop in pay for top executives, coming up. up. >>> a recap of the headlines, japan hikes its sales tax. >>> and a new prime minister in france as reactions of voters. >>> and general motors recalled 1.5 million vehicles, this time for power steering issues. >>> and just a reminder, chinese leader xi jinping is currently visiting europe. he's in brussels addressing eu leaders. you are looking at live pictures. >>> now, mark zuckerberg, meanwhile, has been busy lately. forking out billions to buy whats app and oculus. but while he's spending facebook's cash, he's not taking home quite as much money. kayla tausche is joining us from cnbc's headquarter q. what's going on with his pay packet? >> mark zuckerberg wasn't taking home as much money. he took a decent pay cut last year. his total compensation fell 67% to about 653,000. he took a bail salary of $11. he didn't walk away completely empty handed last year. he reached more than $3 billio