jp morgan saying that it is not going to move anyjobs out of britain because of brexit for the next twoo years. there is that time limit, that caveat. it is notjust london. the biggest private employer in one of the smaller cos, dorset, here in the uk. reading between the lines, there is less about the impact on the uk. nobody was going to move too much before a deal was agreed. at the ceo ofjp morgan, jamie diamond, talking about how this was an opportunity for europe to sort itself out and come an attractive place for other people to work, ridding itself of bureaucracy. i suspect that other countries, hong kong and singapore and america, they will be thinking that if people are leaving they can ta ke that if people are leaving they can take those jobs as well. but will europe do that? is that wishful thinking? he was saying this is a once—in—a—lifetime opportunity. either we once—in—a—lifetime opportunity. eitherwe can do once—in—a—lifetime opportunity. either we can do better in europe, we can become more structured, or possibly europe can break up. you pick and we will make our deci

por eso, el excampeon mundial demando a jp morgan chase.a carta en abril del 2015 a traves de su nuevo contador. la cual incluia copias de los cheques supuestamente robados. juan manuel marquez/excampo en mundial de boxeo "lo que quiero es que se me repare el daño y que se vaya hasta donde se tenga que ir hasta las últimas consecuencias". juanfra --- un informe de luis treto, la portavoz del banco jp morgan chase, dijo que no tienen comentario respecto a la demanda... por su parte, mrquez est pidiendo 7 millones de dlares por daÑos -- cesar vo --una fuerte polemica ocasiono un obispo catolico en " new hampshire". --" peter libasci" ordeno a las iglesias de su juridiccion que no aceptaran a personas indocumentadas en los templos para ser protegidos de las autoridades. --segun el obispo, designar las iglesias santuario es crear una falsa esperanza en quien piensa que ellos pueden estar protegidos si permanecen en el interior del templo. take vo blanca --el secretario de seguridad nacional de estados unidos, desestim sus comentarios pasados do

he is accused of hiring someone from jp morgan, someone he had known for years, who had had personalnd somebody wrote to the members of the board of berkeley is questioning whether this new person was a suitable higher and saying maybe the fa ct suitable higher and saying maybe the fact thatjess staley was a friend of his meant that normal due diligence had been ignored. he saw this as a personal knifing of somebody who had had problems at the passport was now 0k, and it didn't sit well with him. he wanted to know who sent the letter, he was told to back off it was none of his he then mistakenly thought he was clear to restart the hunt and try to involve us law enforcement agencies into trying to find who wrote the letter, and was told that was not appropriate. whistle—blowing only works if the system is anonymous, which is why regulators get so upset if chief executive zahra allowed to hunt down whistle—blowers, it doesn't work. it could cost him up to £1.73 doesn't work. it could cost him up to £1.3 million from his bonus last year, and that will not be the end of it. regulators lo

and then jp morgan.s an unbelievable piece over the weekend in the new york times saying jp morgan chase has somehow managed to capture the millennial spirit with its sapphire card and that is to -- i guess the negativity for american express, which is now seen as stongy. >> well, they have the highest revenues and lowest cost of anybody in their sector there, so they're a dominant force. they have a nice dividend, fairly cheap on the relative basis and their card business is going good. so, yeah. all good. liz: you look at -- >> look, we had a meeting this morning. we were talking about what's really driving the markets and everybody worried about some of this regulatory stuff. there's part of the market that's immune to that, and that's technology. and there's five technology names that in the s&p 500 are about 30% of the return and then the nasdaq 100 almost 45% of the return. and i watched tv, and they talk about the s&p, s&p, s&p, the low cost betty stuff but the nasdaq is up 13% year to date and th

less known was another company which benefited when it citigroup and jp morgan did.e in credit card applications. make of that what you will. airbnb is improving the security of its app and system after homes were burgled by scammers using stolen accounts. they hijacked accou nts stolen accounts. they hijacked a ccou nts to stolen accounts. they hijacked accounts to pull off the gas. i walked the police into this room, which you see is full of stuff, but it was completely anti—. which you see is full of stuff, but it was completely anti-. like millions of people, christian had let out his home while he was out of town as a convenient way to make money. he had done so for years without a problem, but on his birthday, in his home was burgled. while i was enjoying the hotel and having breakfast, and returned to the hotel room to relax a little, i got that text message saying that somebody was in the account. my birthday was over. christian thought he had let out his home to a verified profile. it had previous positive reviews. but the account had been stolen. the name,

by consumer protection laws but it did allow jp morgan to build a vast cybersecurity operation.ied and indicted the hacker. however, keeping data secure requires constantly updating technologies and expensive human monitors watching for any signs of trouble. high price tag. david: that was just one of the you can find on the bloomberg. you can also find them at bloomberg.com along with all of the latest business news and analysis 24 hours a day. that will be all for "bloomberg best." thank you for watching. i am david gura. this is bloomberg. ♪ >> there were almost two incidents where you lost your life. >> and m-16 round went through my chest. >> and to get out of the hospital, you show them you could do push-ups. >> is the only time i stopped at 50. >> you had never once had people working under you directly were killed in action. president obama calls you into the office. >> when the president asks you to do something, you do it. >> please ask your time,

last week both jp morgan last week bothjp morgan chase and citigroup reported earnings, and on tuesdayoldman sachs. there are two things that will boost earnings for bank of america. stronger trading, thanks to record highs seen on us markets, and the higher interest rates, which means that the bank will have made more money from lending. goldman sachs will also see a boost to their earnings, because of strong bond trading and investment banking. but really, what investors will want to hear from both banks is an update on the likelihood of any changes to banking rules. the election of president trump fuelled a big rally in banking stocks on the expectation that he would roll back some of the rules known as dodd—frank. recently banking stocks have been pulling back, after not being able to repeal and replace 0bamacare, there were worries that some of the promises made by the company stretch and may not end up happening. —— made by the trump administration. uk cereal company weetabix is expected to be sold to us firm post holdings for $1.8 billion, according to the financial times. weeta

today we get first quarter results from the biggest us bank, jp morgan chase, and later from its rivalthe first of a barrage of reports from america's biggest companies. will they be good enough to justify the trump rally, or confirm those fears that it's a bubble waiting to burst? president trump has famously promised to throw out the mass of banking regulation brought in by the obama administration after the financial crisis, the dodd—frank act of 2010. but he's been struggling to pass other legislation like healthcare reform, so this is all up in the air. still, the banks have had a boost from rising us interest rates, which have now hit i% and are expected to hit 3% in the next two years. this means more profits, because it helps their lending margins. that's the difference between the interest rate they offer to savers and the rate they charge to borrowers. so what are we expecting? here's the view of one top wall street watcher. what has happened since the presidential election in november is that the equity market has been strong but the banking sector has been particularly stro

jp morgan shareholders will vote next month on a proposal to halt payouts of an infested equity. -- i'mnvested equity. invested equity. it comes as donald trump taps wall street figures for top post. it says it doesn't see how the bank benefits from golden parachutes. some breaking news crossing the bloomberg. at 52 .6 inmi march, a third day of falling. 52.2.rvices pmi at it was 52.6 in march. let's get some analysis on what this means. we are looking ahead to that eminent first meeting between president trump and president xi jinping with strongly different agendas and play. i want to talk to my next guest about what the two leaders can accomplish in florida. he is the chief economist at deloitte china, based in beijing, but great to have you in sydney. one of the things you say is a warning that china should take trump seriously about what? >> about bilateral trade. complicatedabout supply chains, value added, but in the end, the trump administration is taking so-called surplus countries very seriously. chinese are on the top of the list, followed by germany and japan. more important

two of america's biggest banks have seen interest rate boost -- jp morgan and citigroup has seen $6.5on and $4.1 billion respectively. they hope donald trump will follow through on plans to reduce regulations on the industry. london's housing market is in its deepest slump since 2009, according to a real estate survey. prices in the capital dropped as demand weakened in march when the u.k. launched its formal brexit proceedings. the number sales and potential buyers in london but instead needed last month. -- both stagnated last month. taxes on second homes could continue to weigh on the property market. winemakers in italy are increasingly worried about brennan moving the european union. -- britain leaving the european union. they are the most wine importer, almost 8 million euros last year. after brexit, those products could be subject to increased duty. that is causing panic in verona. >> floating high on the bubbles of success, it's exports to the united kingdom exceeding 30% last year. eu hasxit out of the soured their celebrations. italian wine could face tariffs to that of non-

jp morgan's ceo weighs in on what's holding back the u.s. economy right now.d whether he's right coming up on "closing bell." alright, and before that? you mean after that? no, i'm talking before that. do you have things you want to do before you retire? oh yeah sure... ok, like what? but i thought we were supposed to be talking about investing for retirement? we're absolutely doing that. but there's no law you can't make the most of today. what do you want to do? i'd really like to run with the bulls. wow. yea. hope you're fast. i am. get a portfolio that works for you now and as your needs change. investment management services from td ameritrade. xfini'll get my coat.ek is back. meaning you can catch up on all the moments you might have missed. you seriously can't tell the difference between a bird and a plane? like that time gwen and blake got a little too flirty. that's so inappropriate to talk about us hooking up. xfinity watchathon week ends april 9. the greatest collection of shows free with xfinity on demand. >>> welcome back. the white house reported

we had some healthy stocks from jp morgan and the us stocks?he us but then we had comments from mr trump, how does this fit together? it is very interesting. since trump's collection, banking stocks of saud. the belief is that a trumpet administration would be good for financial firms because of high interest rates but also lighter regulation and lower taxes. now with the us president backpedalling on things like high interest rates, and that it things like high interest rates, and thatitis things like high interest rates, and that it is taking longer for him to push through some of these reforms that he touted, the market is getting slightly more nervous and some of the massive gains are being tempered. thank you very much, maike currie. the markets are down is a bit coming up to the easter holidays. slightly shaken by mr trump's comments about the dollar being weaker. a fairly downbeat end to the week. that's all from me, there is a round—up of all the other top business stories on our website — bbc.co.uk/business. and that is the business. t

citigroup, wells fargo and jp morgan are three of the biggest banks — and they've just delivered results whopping 17% at citi and by the same amount atjpmorgan which made nearly $6 and a half billion dollars profit. it's because their trading floors are getting busier as samira hussain explai two things that are doing well for the banks, one is the rise in interest rates, resulting in the fa ct interest rates, resulting in the fact that we are seeing more money coming in from lending, the other is trading, the trading desks are doing really well. the stock market has been trading at all—time highs. banking stocks particularly happy doing extremely well. we now know that the passenger who was dragged off a united flight on sunday suffered concussion, a serious broken nose, sinus damage and two broken front teeth. his name is dr david dao. and today the family gave a press conference. this is their lawyer. just treat us with respect, make us feel that you care. i must say i don't believe it's limited to the airline industry. ithink don't believe it's limited to the airline industry. i thin

jp morgan chase and citibank both posted double digit increases last week. and bank of america,ing, t repo today did even better. one analyst believes it's time to pick individual stocks rather than investing in the entire financial sector, which did get a boost following november's election. >> we're pretty neutral across this space. we thought that expectations about policy, whether it was rate policy or fiscal stimulus or regulatory policy, had just gotten too constructive. and we've been more focused on single names where we think there's some earnings possibility rather than the space as a whole, which we think may be sideways until there's evidence of stronger macro conditions. >> johnson & johnson also disappointed, despite improvements from year-earlier numbers. sales of blood thinner zorelto were lower than expected. still, j&j is raising its guidance, hoping to restock its pipeline with a $30 billion deal for european biotech atelion, expected to close in q2. unitedhealth group put up better than expected numbers citing its pullback from the afford

jp morgan chase, citigroup, wells fargo, they all come out before the opening bell. more later. that's had a to watch tomorrow. >>> warren buffett is one of the most influential investors ever, of course. when he speaks, wall street listens. but in this case, wall street is inside san quentin. in the final part of our series "business behind bars," jane wells went inside to meet him. >> i'm in prison for first degree robbery, murder, and attempted murder. and i was sentenced to 54 years of life in prison. >> reporter: what's your nickname? "wall street." >> reporter: 38-year-old curtis carroll went to prison at age 17 and didn't know how to read. one day he went to pick you want sports section of the paper and picking up the business section instead. >> an older prisoner said, hey, youngster, you play stocks? he said, that's the place the white folks keep their money. >> reporter: that sparked carroll's interest. he learned to read by studying the business section. >> i saw an article in the paper. no, it was a magazine. and it had bill gates and warren buffett's net worth next

guest: bank of america, jp morgan chase, citigroup, wells fargo. six banks arer the ones that have the majority of financial assets in the u.s.. banks.n't affect smaller does affect smaller banks. jeb henserlinghy is in charge of this. guest: he has put a couple of bills out. he put a bill out about a year ago and released it last week. this would be the financial choice act. there are some good provisions in the bill. it would focus on banks maintaining higher capital. the banks would not be able to borrow as much money as a percentage of their business. it would be optimal if you are not able to buy a house unless you put 10% to 20% down. that would protect you if the value of the house falls. the same with the financial firm. it should have to have 10% equity. if it happens to run through that equity hopefully all of the financial firms won't do that at the same time and you won't have the need for massive bailouts. there are some not so good provisions in the bill as well. some of themantle rules and regulations we have put in place for the der

first, jp morgan chase beat on both the top and bottom lines. earnings coming in at $1.65 a share and revenue at more than $25 billion, up 6% when compared with the same period last year. wells fargo's results were mixed. earnings beat at $1 a share while revenue missed slightly. and earnings came in at $1.35, an increase of 17%. pnc financial also beat on the top and bottom lines, earnings were at $1.96 a share, well above estimates. wilford frost digs deeper into those reports for us. >> reporter: banks earnings initially looked positive across the board, with eps beats for all the big names. there were hidden issues, most notably for wells fargo, whose expenses rose more than expected in part because of distractions from dealing with the sales scandal. ceo tim sloan addressed how the scandal has impacted the company. >> of course it's having an impact on the performance of the company. i mean, i think that when you step back and you look at how serious the retail sales practices issues were, and the reputational impact on the company, you can

on thursday, card errly profit for sit group and jp morgan chase, blew past expectations, so we'll seet's in store this week. those bank report earnings tomorrow. jim, rahel? >> i upped stands tezsla wants drivers to cut their addictions to gas guzzling cars and now taking on the truck industry, what's going on? >> yes, tezsla says it is getting into the trucking industry. the company will unveil electric semi truck in september. that news drove shares of the stock way up. the company's also developing electric pick up and mini bus vehicles. a whole new world. >> i'm so curious. >> behind one of those big trucks, right, on the highway. >> as long as they have the drivers. that's the only thing i'm against, these driver-less cars and trucks. >> yes. >> jill, thank you. >> many coming up: be sure to grab your umbrella before you leave the house today. >> lauren tracking some rain this morning. >> scatter showers will move their way through parts of the area. let you know who has the best chance every seeing some monday morning wet weather in your forecast coming >> early on a monday morn

. >> well to day some of the country's biggest banks will release their recent earnings report, jp morgan, citigroup, wells fargo all will report those earnings before the open, for the most part, shares of the financial stocks have skyrocketed since president trump took office, there are expectations his administration will ease regulations, on financial institutions. again, those come out before the opening bell. so we will have an influence on how today goes in terms of the trading. jim and rahel. >> i was looking at the market yesterday, not happy. >>> so we hear amazon has a new tool to help parents keep an eye on their kid. what is that all about. >> amazon is introducing a new tool to let parents see what their kid are doing on the company's fire tablets. parent dashboard as part of the free time service for kid, parents can monitor daily screen time and then web site their children visit. i imagine that is extremely helpful. >> i like that idea. >> you have to watch kid these days. there are some adults too. >> yes. >> see what others are doing. >> yes, thanks jill. >>> you can st

today we get first quarter results from the biggest us bank, jp morgan chase, and later from its rivalf reports from america's biggest companies. will they be good enough to justify the trump rally — or confirm those fears that it's a bubble waiting to burst? president trump has famously promised to throw out the mass of banking regulation brought in by the obama administration after the financial crisis, the dodd—frank act of 2010. but he's been struggling to pass other legislation like healthcare reform. so this is all up in the air. still, the banks have had a boost from rising us interest rates, which have now hit i% and are expected to hit 3% in the next two years. this means more profits, because it helps their lending margins. that's the difference between the interest rate they offer to savers and the rate they charge to borrowers. so what are we expecting? we will have full analysis for you in 20 minutes' time. look at this! are you happy to have your food delivered by robot? that's the question being asked of take—out food customers in san francisco — it's the first full scal

last week, both jp morgan earning stories in banking.tigroup reported earnings and on tuesday we will hear from bank of america and goldman sachs. two things that will boost the earnings for bank of america, stronger trading, because of the record highs seen on us markets, and the higher interest rates means that the banks will have made more money from linking. 0ldman sacks will also see a boost to their earnings, because of strong bond trading and investment banking. really, what investors will want to hear from both banks is an update on any changes to banking rules. —— goldman sachs. the election of president trump showed a rally, on the expectation that he would roll back some of the rules known as. frank but recently, bank stocks have been pulling back, after not being able to repeal and replace 0bamacare, there are worries that some of the promises made by the trump administration may not end up happening. —— dodd? frank. studio: picking up on some of the things we had there, but talking about the relative calm, talking about the

last week, citigroup and jp morgan reported a strong set of financial results. eye on goldman sachs and bank of america. so you can join so you canjoin me in about 20 minutes for world business report. a major manhunt is underway in the united states, after a man shot dead a grandfather, apparently at random, then posted footage of the killing on social media. facebook has said it is reviewing the way it deals with violent videos like this one, which was on the site for over two hours before being taken down. a $50,000 reward is on offer for information leading to his arrest. more now from the bbc‘s peter bowes. a huge manhunt for a suspect who has described himself as a monster and whom the police say is armed and dangerous. the shooting happened in clevela nd dangerous. the shooting happened in cleveland but the search is now nationwide. police say they have received dozens of tips about his possible location but despite repeated appeals for him to turn himself in, steve stephens appears to have vanished. last night officers searched dozens of locations based

jp morgan core loans were only up 9%.oes bank of america now fit in with the underlying fundamentals of the economy so far? >> do have to look at everybody's is this. for the most part, trends are consistent. we did see lighter mortgage banking, but we have seen that of the other banks. banking across the board kind of hurts wells fargo relatively more as they earn more from that business. will: allison williams stick with us as goldman sachs will come out in just a few minutes. coming up, we will talk the trump trade. live from new york and washington, this is bloomberg. ♪ ♪ alix: this is "bloomberg daybreak." i am alex still. we are to hours away from the open. to go upcontinuing 1.5% after theresa may called for snap elections. the 10 year yield moves lower by two basis points. it willr asset classes, be what is going on over at the u.k.. the sterling getting a big big over the 200 day moving average. bit of seeing a little selling after some big buying about an hour ago. yields up one basis point. gold is relatively f

jp morgan chase international chairman.ch prime minister talking at the moment. we in fact have a live shot from paris. he's talking about the deadly attack yesterday on the champs-elysees. let's get to our reporter who is on the ground in paris. will any of this shift how people will vote on sunday? we're talking to angel gurria, and he says it won't have that much of an effect on how the french choose who they want to go to in the second round. reporter: it will be hard to tell because there's only a few hours left before the end of this campaign because from midnight to tonight french time, the no opinion polls are allowed and no interviews and no campaigning anymore. the opinion poll we had today from opinion way showed the republican candidate was gaining one point and the far left wing candidate was losing of this 18% but 85% poll was conducted before the attack. we should have another poll later today. of course the danger is that the french people who are still undecided which represents about 30% of the registered

>> jp morgan is looking at buying another office building in dublin. that is certainly one option.could expand in other european cities. certainly you will see a bigger presence from these u.s. banks on the continent. what we have seen so far is banks making plans to send a small cohort at first, then see how the negotiations plant. market in thece british capital in 1688 expects the office to be operational at the beginning of 2019. >> we a contingency plan before the referendum. as soon as the result came through, we began to put the flesh onto that. -- rapidlyconclus concluded do onshore on the eu. i personally believe that london will remain the financial sector in europe. it will certainly remain the major financial sector for lloyd 's. obviously if you look at other parts of the financial sector, they have slightly different criteria at work. you will see some transfer. london will remain a powerful financial center. >> the eu signaled theresa may will have just one year to work on the trade deal. expected came out as playing hardball with the u.k., saying they would not rene

jp morgan.resurrect its home loan business with the help of hgtv stars drew and jonathan scott. they have that popularity reality show the property brothers. ashley: yeah, it is very popular. well, morgan says we got out of the business after the housing collapse, they ended up paying some 31 billion in legal settlements and ignored the residential mortgage business, but it turns out they're falling behind their competitors. less than one and ten of jp morgan chase customers have their home loan through that bank. so they're, like. okay. there you see the property brothers there on the screen, they're going to have guys, they're going to be running ads for jp morgan chase encouraging people to get a home loan. stuart: nice leveraging of your name from television into your name of advertising through a major bank. they're going to do well, i think. now, you might have to wait longer for your tax reform. president secretary mnuchin says that august deadline is wildly unrealistic. debbie joins us,

the pilot program which ends in may is funded by a $150,000 grant from jp morgan chase. >>> still toe, streaming services like netflix and hulu could soon be taxed. in 20 minutes, the new steps being taken by one state and the other services that could be affected. but first, many bay area muslims felt they were targeted. now we get to the bottom of the the home visits from the fbi. we talk terrorism, isis. and how they are working to strengthen their relationship with the community. live-stream your favorite sport at the airport. binge dvr'd shows while painting your toes. on demand laughs during long bubble baths. tv everywhere is awesome. the all-new xfinity stream app. xfinity. the future of awesome. >> new at 10:00, the fbi has been reviewing how thousands of terrorism related tips and lead haves been handed over the last three years. the goal, to make sure they were properly investigated. the review follows attacks by people once on the fbi watch list afused of violence in the past 12 months. >>> on segment 2 tonight, we talk to the fbi about a practice of calling or visiting p

keep an eye on jp morgan and goldman sachs. that is the picture in asia in trading.hat do you have for us? yousef: as part of the world, a two-hour delay on the emirates markets. this was the state of play. the benchmark index up half of 1%. we're seeing strength in materials and industrials. as we got best performer in this part of the world. if you take a look at the technical, that broke through three moving averages in one goal. also watch out for first abu dhabi bank, driving a lot of those gains. we're seeing some interesting moves in qatar, up one half of 1%. also egypt, a lot of foreign buying. let's look at some of the key risk assets. crude, $41 per barrel. big moves overnight. the api was set to report a trend in inventory. we get a little more flesh on that data when api reports that state appeared -- reports its data. south african rand very much in focus. 13.63%. that has recovered some of its bosses -- losses. shery: let's get a check of first word headlines. boeing has won a $3 billion contract from iran in a possible test of president trump's ability

how about jp morgan shape. it is the biggest turning weaken the entire decade. and i could make or break the markets. they are set to report between now and friday how about 200. including google. out parent alphabet. amazon, croissant and exxon mobil. a grand total of more than $7.7 trillion worth of s&p 500 companies will be released in numbers. let me get to this news so that it really seems to be exciting the markets. the journal as i mentioned reporting that present triple order his staff to speed up efforts to write the tax plan and get at least some details out. it will be field -- filled with cuts. we should point out that the 15% corporate tax rate was something he ran on i don't get the news here. other than and this could be a key point of it. if to wait until the dust settles to try to figure this out. trump is now saying forget about the deficit we don't care about it just a couple weeks ago he was saying they needed to get health care reform done so that they could cut back. now he's talking like a supply sider. we are going to suck it up were to t

vonnie: jp morgan looking for 2.5%, 3% growth this year or next year, what is your estimation?ons are around 2.5%. that is this year. hopefully, there will be an acceleration through the year. vonnie: how should colombia continue to diversify the economy? we see this in saudi arabia and venezuela suffer having no diversification at all. how is that movement going to continue in colombia? >> the most important thing now is the diversification of exports. we need new exports. aich has to be part of restructuring process in which, in particular, you have more manufacturers, you have a new agricultural sector. also, increasing exports of services which have become very important for colombia. vonnie: you brought it up, exports, the colombian relationship with the united states, how has that progress through this administration? >> improving in recent years. ,olombian exports to the u.s. outside the two neighbors which ecuador,enezuela and to the u.s. and europe, colombia 's exports are recovering. that is very good news. no doubt, the facilities to export to the u.s. have been a ve

we have added to keep metrics, one big bjp morgan middle east -- one being the jp morgan molest sukukndex. the take away here is the differential that spread has been narrowing over the past few months. it tells a story of two sides to the coin. a sign of opportunity or a sign of the conventional bonds, how do you read these numbers? >> i think there is one key point here from the numbers perspective -- the key point is with a sukuk, you are tapping the conventional islamic investor. your investor base is wider, arguably your demand is more, and therefore it has an impact on pricing. that has been narrowing between bond and a sukuk. more important geopolitical implications that have an impact as to why one would look at a sukuk over a bond, over the numbers. yousef: we still have plenty to get through. east a partner of middle capital markets. let's get you up to speed with .ne of the key functions the best way to start your day. i followed up here on my bloomberg. you can see the first thing, the fed minutes inspiring that first page picture. then some of the other big stories includ

considered great reports, jp morgan, it is still trading lower today than before reported earnings. so is it the fundamental picture? take a look at the ten-year yooerd. we've got a slow down in commercial lending? ask there a reason to be in the banks? are the banks telling us something even though the earnings reports in general were decent. >> because of the volatile trading but we've had a tremendous rally in that sector since the election. but the nintdal basis of banking, take a deposits and lending them out is slowing down and i think that's going to be the bot tomt line driver for the banking sector at least for the next couple of quarters. as you mentioned with the flat evening yield curve that job becomes more difficult. on the demand side we're seeing some moderation across the board, consumer and in business. >> is that flat evening yield curve -- okay, speaking to a much larger point about the economy and then the overall market? >> yes. so we have -- we're coming off a 1.6% gde performance in 2016. the first quarter could be less than 1%. and i don't see signs that we'

as we mentioned, jp morgan's ceo jamie dimon said they spent with -- spent more than $95 million on technologyast year. banks.r the big $9.5 billion, can we get a breakdown? reporter: i want to bring up my notes for you. he did give us a breakdown on that $9.5 billion spent in 2016. he said something around $300 million for fintech initiatives. they do compete with startups. change withn abrupt the last two years. if you go to 2014, he was saying that we should be worried about silicon valley, that silicon valley is coming for them financial industry. last year he had a different tone, much more optimistic. this year part of his letter is spent touting the initiatives that the bank has going on the fintech front. caroline: fascinating, and $6 billion being put into fintech companies. and ventures with them going forward. is there any idea how long this will be continued? in previous years he said that tech is coming for the financial giants. is this level of spending going to be continued? reporter: he didn't give any projections as to what he will be spending next year, but he looks at it as

rivals like bank of america and jp morgan chase beat their estimates. >>> united airline said no employees were fired after a passenger was dragged off a plane last week. on tuesday oscar munoz said quote it was a system failure. there was never a consideration for firing an employee or anyone around it. he acknowledged there was some public speculation that he may lose his job but says he has spoken with united continental board of directors and received its backing. i have to say, i am shocked that no one was fired. >> security guards were the ones -- that was a company policy, no one united employee was at fault there other than a general policy. >>> "early start" continues right now. ♪ >>> breaking this morning, no decisive winner in georgia's highly-anticipated special election. why are all sides claiming victory? what is the white house saying? good morning and thanks for getting an early start with us. >> i'm alison kosik. breaking from georgia, the only thing settled in the sixth district i

. >> a stronger quarter for jp morgan.ital markets drove the equity -- drove the fixed income trading. equity trading better than expected. everything else seemed to align. we saw all of the bank reserve releases this quarter. a lot of that was driven by energy. last year, that was a big headwind for the company. they were being conservative in terms of reserving for losses. the outlook has improved. michael: still ahead as we review the week on "bloomberg best," christine lagarde assesses the big risks to the world economy in 2017 and stephen schwarzman explains why the devil is in the details for donald trump's tax plan. plus, an investor sees growth opportunities in china. coming up next, more of the week's top headlines. a viral video sets off a social media explosion in the united deals united airlines with the fallout. >> they may have to be more willing to pay the price and take passengers to get off the airplane. mike: this is bloomberg. ♪ ♪ michael: this is "bloomberg best," i am michael mckee. let's continue our

jp morgan's target stays at 26, 8 bucks, 25% of upside.rm cloud computing? everything is cloud computing. there is no other type of computing. what do you have a 5 1/4 inch floppy drive? >> job losses and retail has become a big drag on the economy. has retail become the new oil? that's ahead in the second hour of "power lunch." why pause a spontaneous moment? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis. please repeat the objective. ♪ thrivent mutual funds. managed by humans, not robots. before

you don't see that at jp morgan or goldman sachs because they don't want all that noise out there. he doesn't want all the people hearing about it that's why he is so frustrated. >> thanks. >>> another break for us. up next, what options does president trump have to deal with north korea? new reporting from nbc news to share with you when your broadcast tonight continues. on september 9, 2010, pg&e learned a tragic lesson we can never forget. this gas pipeline ruptured in san bruno. the explosion and fire killed eight people. pg&e was convicted of six felony charges including five violations of the u.s. pipeline safety act and obstructing an ntsb investigation. pg&e was fined, placed under an outside monitor, given five years of probation, and required to perform 10,000 hours of community service. we are deeply sorry. we failed our customers in san bruno. while an apology alone will never be enough, actions can make pg&e safer. and that's why we've replaced hundreds of miles of gas pipeline, adopted new leak detection technology that is one-thousand times more sensitive, and built

>> well, jp morgan, last quarter, year over year, they had growth over every single category.s does it look like right now? you start with analyzing who's the best man right now in all of the financial stocks? who is the best management team? jamie dimon and j.p. morgan, bar none. he did it with his on stock. fundamentally the company itself in the last five years, they have bought back $25.7 billion in shares in this company. he loves buying it when it got underneath a tangible book. he's talked about the idea he'd go up and buy to two times tangible book. they will continue to buy back some of their shares. you look towards the next quarter and this year, are you looking at growth, growth, growth. across categories, that itself another thing you got to like. if there is any regulation going forward, that will be a huge benefit. he talked about today 2 trillion it's costing right now for the banks themselves. unbelievable amount of money they're having to spend right now in the regulatory side of the banking industry. any of that comes back, that's money for the banks, themse

manus: we have jp morgan asset management in before you. that my cabel was making was that you have seen and exit last year from europe. this is a chart we looked at. risk came and was on the rise. there is no excuse now not to get involved. going but reaction is 92 risk, isn't it? risk, isn't it? the currency, some of the options around the euro and euro-yen. in the equity market, we haven't seen a huge amount of that priced in. maybe people are getting tired of the politics. we have seen the trump and brexit affect. this is definitely a window of opportunity for europe where you can step out of the shadow of politics and look at the earnings, corporate profits, and things that drive equities. anna: what about the ecb story? we have seen a longer debate over the last few days. how long can the ecb continued to give the same messages? bullish messages from mario draghi the last time he spoke. when will it start to reflect more positive data coming out from your? -- from europe? nick: we are moving that way. we suspect that is a possibility

. >> a stronger quarter for jp morgan capital markets really drove the better part of that, fixed incomeng. equity trading also better than expected. we also saw some fees at citigroup that are than expected. everything else seemed to align. what is interesting is actually we saw at all the banks, reserve releases this quarter. a lot of that was driven by energy. last year, that was a big headwind for the company. -- the companies. they were being conservative in terms of reserving for losses. now we see some of that being released since the outlook has improved. michael: still ahead as we review the week on "bloomberg best," christine lagarde assesses the big risks to the world economy in 2017 and stephen schwarzman explains why the devil is in the details for donald trump's tax plan. plus, ford ceo sees growth opportunities in china and up next, more of the week's top headlines. a viral video sets off a social media explosion and united airlines deals with the fallout. >> the economics may have to be that they are willing to raise the price they are willing to pay passengers to get off

the massive 2014 hack of jp morgan did result a financial -- did not result a financial losses for thesumer protection laws but it did allow jpmorgan to build a vast cybersecurity operation staffed with former military members and the u.s. eventually identified and indicted the hacker. however, keeping data secure requires constantly updating technologies and expensive human monitors watching for any signs of trouble. high security comes with a high price tag. ♪ david: that was just one of the many quick takes you can find on the bloomberg. you can also find them at bloomberg.com along with all of the latest business news and analysis 24 hours a day. that will be all for "bloomberg best." thanks for watching. i am david gura. this is bloomberg. ♪ ♪ announcer: from our studios in new york city, this is "charlie rose." charlie: the countdown to 100 days. we continue our coverage. the white house faced questions about how proposed tax cuts would be carried out without adding to the federal government growing deficit. meanwhile, numbers of congress worked on a short-term spending bill that

i remember lipsky and glassman and now we have bruce cassman at jp morgan.ard and soft data? that's all the rage right now. have you heard anything silly as parsing hard and soft economic data? john: well, this is nothing new. there's always been a tendency for distinction for things like confidence figures not necessarily always lining up with the actual prints but this opens a broader issue that we have to ask, this is our economic data, is it really providing the best view of actual economic activity and situations that it could? and there are a lot of efforts underway now to try to improve that through mining big data that i think will go a long way to help eliminate this kind of worrying about what does the hard data show, what does the soft data show and give us a more accurate picture but effort is needed to take advantage of the data available but not always used for traditional economic statistics. tom: let's do back to john lipsky. gideon rose joining us and we have a wonderful conversation with gideon on the financial ministers we'll speak with to

you don't see that at jp morgan or goldman sachs because they do want all that noise out there.he doesn't want all the people hearing about it that's why he is so frustrated. >> thanks. >>> another break for us. up next, what options does president trump have to deal with north korea? new reporting from nbc news to share with you when your broadcast tonight continues. if you've tried every pill on the shelf to treat your tough nasal allergies... ...listen up. unlike pills that don't treat congestion, clarispray covers 100 percent of your nasal allergy symptoms. clarispray. from the makers of claritin. ♪ seriously, what is this place? it's heaven. yeah, muscle heaven. you want to take one for a test drive? (tires squealing, engine revs) the challenger and charger have the most affordable v8 engines in their classes. check them out now during the fast and furious sales event. the fate of the furious. in theaters april 14th. in dealerships now. now get 20% off msrp cash allowance on select 2017 dodge charger models in dealer stock. >>> we are back and we wanted to let you know that

we start off are financials, they turn negative for 2017, this comes as jp morgan, citi take off bankow morning. what should investors expect? dom chu is in the newsroom with a little preview. >> reporter: melissa, no doubt, it's pedal to the medal, if you are an investor, the three big banks set the tone for the rest of the season, so here is your earnings quid card, citi and wells fargo, analysts are on average looking for earnings at $1.52 a share on revenues of 24.8 billion. look at the capital market activities there, like trading. the options market could be a plus or minus 1.8% move in the stock after the report. citigroup analysts are looking for earnings of $1.23 a share. same kind of steer here as j.p. morgan, options traders here looking for a plus or minus 2.1% move a. more traditional lender wells fargo, look for 97 cents per share revenues and, of course any commentary on the ongoing fallout from that big account scandal as well as what profit margins are affected by the interest rate mark. options traders plus or minus 1.7% move on the heels of the report. according to

his office brought charges corporations such as jp morgan chase for its relationship with made off securities and numerous high-ranking government officials. he also continued the civil rights work with initiatives like a multiyear investigation into the treatment of adolescent males at rikers island. in 2012, he was featured on the cover of time magazine and appeared on the list of 100 most influential people in the world. month,ll know, just last he was abruptly removed from his office here in manhattan as part of the transition to a new presidential administration. i might add that development made his talk here tonight one of the hottest tickets in town. [laughter] >> we couldn't be more proud to have him here at cooper union. please join me in welcoming mr. preet bharara. [applause] preet: thank you. thanks very much. thank you, president sparks, for that introduction. i want to thank margaret jacoby who i know put a lot of work into this event. i wasn't intimidated enough and then there was a video about all the people that spoke here. lincoln was mentioned like 18 times. i feel no pres

the second largest sector in the s&p 500, the financials next week, we will see bank of america, jp morganlied volatility, so we have the two largest sectors of the s&p 500 implied volatility going up in earnings. aspects,e fascinating people focusing on those sectors, if you look at the 93 xv, itlatility, the vix, v is flat, about 15 as well. trading in par with the vix. people are worried about the long-term volatility for three months, they are worried about volatility. sector, the weakness continues, the whole thing could potentially unravel. what are your thoughts? could there be more of an unraveling for the banks? trades,most of the everyone is putting on protection and you can see because applied volatility is picking up to the 22 level, that is extremely elevated because we have not seen deregulation, we have not seen growth policies, the yield curve is not backing up the banks, especially for the net interest margins because of the rate hike. at the big look money centers. jpmorgan, bank of america, goldman sachs have not traded as much as the regionals which actually need the fi