morgan stanley miss the qualitative part of it.s a statement that does not list any numbers. ♪ on the show tonight, convention plots and speaking slots, 19 days ago until republicans convene in cleveland. first, the world still reacting to the attack in turkey yesterday. the total number of people who have been killed is now 41 according to authorities. more than 200 injured, by three suicide bombers, who turkish officials say have ties to islamic state. hillary clinton and donald trump have each weighed in in the past day. let's review what they have said. the attack occurred before 3 p.m. turkish time.

erik: what about for morgan stanley?m: we have not gotten into specific, we hope the vote will listen to the economic arguments and stay. we are looking at our plants and what is not clear is what the effect on the renegotiation would be in the event of brexit and what that means to the single market and britain's access to it. erik: let's talk about practical concerns, come friday, what do you differently than you are not doing today? assuming -- erik: we have contingency plans assuming a brexit and we'll talk with regulators and talk about having a european union headquarters somewhere that will be acceptable to morgan stanley and other regulators in terms of a combined -- erik: where would it be? colm: possibly dublin or frank bird -- frankford. world, what isit most challenging from an operations standpoint? colm: what will happen i believe is the euro will move in the exchanges will be moved and some of the elements of the exchanges will be moved. there are practical things straightaway, longer-term, all sorts of is

you have more on morgan stanley? >> the statements are coming in after hours from these banks as they're increasing their capital returns programs, despite the fact that morgan stanley has to resubmit its plan by the end of the year, they are able to go ahead with any planned increases. those increases according to the company, repurchasing up to $3.5 billion of outstanding common stock and hiking the dividend from 15 cents to 20 cents. james gorman, the ceo, saying we're very pleased to be able to increase our capital return, returning additional capital to our shareholders is a key element of our strategic plan. we're fully committed to addressing the fed's concerns about our capital planning and fully expect to meet their requirements within the established time frame. deutsche bank, another one of the companies that had object n objections raised by the fed, but deutsche bank did fail on a qualitative basis, coming out and saying the capital adequacy has never been in doubt. we appreciate the federal reserve's re

at one: morgan stanley point down 10%. that they are moving jobs. >> if you look at the spread between two-year and 10 year yields we continue to see flattening. that is continuing to flatten. this has been one of the biggest stories all year. spain also showing stress on the short term. nothing huge but you can see it is jumping. they have an election that we will be talking about. taught about the u.k. 10 year yields. if there is one place where there is a bull market it is in the government wants as people will into that safe haven, brand-new low right there, extraordinary low levels in that market. scarlet: let's go back to that other chart we had up earlier which was the intraday. 30 incredible. a 590 point swing for the dow industrials, the lot -- whitest move since last august. in terms of the banks ask lf, the etf that tracks the financials dropping the most since november of 2011. 14%.ff by he gets a quarter of its revenue from the u.k. and ireland. 70 -- 17% from europe. and each down 10%. >> you also had a trade

where getting headlines from morgan stanley -- we are getting headlines from morgan stanley that analystsre are predicting that the ftse could rise 14% if the u.k. votes to remain in the eu. seewondering if you incredible moneymaking opportunities here and are placing your bets? i think there will be a brief rally if the u.k. remains. i have said that the u.k. voting to leave would have a negative effect on not only the u.k. but also the eu markets. fund so wea hedge don't bet on market movements, but it is something we look at very carefully to ensure we are in a position long-term. i think there are mainstays, long-term, this is good for u.k. [indiscernible] think that will lead to headwinds in europe. that might spillover into a domino for -- a domino affect around the world. does that mean that europe goes down? i am not so sure. guy: we will talk but the ftse when we come back. andink that is interesting maybe the pound would also rally which you would've thought would lower the value. some companies would benefit actually from a weaker sterling at this point. we are called up around

morgan stanley and american express, $3.5 billion each.ght, when it comes to analysts havea's not been this wrong in some time. how have they been so out of step? it is wreaking havoc on projections when it comes to china equities. industrial companies undergoing this massive transition, dealing with excess capacity, debt, overall reintegration -- reorientation to services. take a look at this chart. this is big gap we are looking at, a 33% gap between what was expected and what we got. we have not seen it looked as wide since 2009. often state owned companies dragged the benchmark down almost 20% year to date. it is a painful adjustment that takes place over a number of years. simply aren't capturing the changes in their analysis. out of the companies it reported q1 earnings, 68 to the downside. hosting its first ever loss. the biggest gold producer seeing income falling 85%. is other side of the story that they are more expensive than face value. will be based on aggressive estimates and analysts need to be more conservative and discount

morgan stanley already we get a denial of the story of the 2000. i mean, there's a fog of war going on. >> yeah. >> big fog of war. but people are still going to eat cereal. i know it's bad to reduce it to what we have reduced it to, but do i want to buy caterpillar down three thinking credit could be not as available in europe? you know, there's other things to buy. >> yeah. >> do i want to buy any of the big banks? i was with dick kovasovic, i had the pleasure to be with him, former ceo, they're bankers, u.s. bankers, warren buffett bank -- >> domestic companies, a company like our own, comcast, has no operations anywhere but in the u.s. >> an interesting level only gotten better. >> right. >> by the way, we mentioned that bbc report about moving investment bankers. a morgan stanley spokesperson in london says the story is completely not true. >> there you go. >> it did seem a little quick. you have to wonder. >> think about that. think about what happens is you get someone coming out like that and suddenly everyone's shorting morgan stanley -- i

morgan stanley, jp morgan. scarlet: let's take a look at the rates market as well.our rate trader function. i have picked the united states look at on and i can the benchmarks, across the yield curve. this is the short end and this is the long end. what you are seeing there is the intensity of the move based on this historical information. the spread is tightening because we see the negative numbers. how many standard deviations question were what you see here in the bottom right is the index. you can go to it as well. what you see here is this spike. that shows a severe point of in the u.s. market when the headline had crossed. there were about the confusion over what would happen and this the european market open for trading. it: interesting to see reflected like that. i'm looking at one area where there is some stress. you may have missed this if you want looking at polish or hungarian credit. both of these spreads were surging today. with the u.k. thing, it throws all kinds of questions into the future of the eu and these countries on the periphery, their future

morgan stanley upping from 20 to 15 cents and that it will buyback 3.billion in stock. they did get an not necessarily an objection, but they need to resubmit by the end to have year because of certain qualitative issue that is the fed found with the way it plans for it. james gorman said we are committed to addressing the fed's concerns our capital planning process and fully expect to meet the requirements within the time frame. that time frame, the enof the year, so we'll keep you updated. the banks did not pass outright. the fed said while these had made progress, there's still serious deficiencies in the way they plan to give capital back, so perhaps you could read into that there's still a long ways to go for these international banks to catch up with the progress. >> so, kayla, the morgan stanley announced capital return plan, is that suggest to them resubmitted the capital plan and having that approved? >> not necessarily. they can go ahead and begin bying back stock, begin increasing the dividend starting in the third quarter of this year, but if the fed doesn't

morgan stanley, there were early morgan stanley would move staff from the u.k..t move is as we ascertain the effects of the vote. of bank of america, morgan stanley, they are all .rading down anything sensitive to the american economy will sell off. apple, alphabet, mobile, they are all selling lower. global travel has been under pressure. one area of green has been gold as people look for refuge. futures are -- gold trading higher. volatilitye vix index, it is up to 23.59. not as high as earlier this year, but still spiking. jonathan: big market moves. s&p 500 down by 2.6%. the dow lower by 500 points, the biggest moves that earlier this year, 3.4 percentage points. it is not as dramatic as europe, but it is a significant move lower. global leaders respond with statement after statement after statement. guy: it is not surprising. we are asking leaders to come out and make statements. the latest from the secretary of the treasury jack lew. the statement in short and to the point. as we consider developments in the financial market i have been in contact with my c

erik: what about four morgan stanley?ritishe are hoping the voter will show sense and listen to the economic arguments and stay, but we are clearly looking at our plans. what is not clear is what the effect of the renegotiations will be in the of -- after brexit and what it means for the market and britain's access to it. erik: come friday, what does morgan stanley do differently? -- is assuming guest: assuming there is a brexit, we have contingency plans. we will look at having a european headquarters that will be acceptable and in terms of a combined -- erik: where would that be? guest: possibly dublin or frankfurt. i like the idea of dublin. do, but youre you are biased. what's most challenging from an operational standpoint? guest: i don't know if we will see the details yet. i've think the clearing of europe will move to continental europe and the exchanges will be moved. him aactical things straightaway, longer-term, you can have all sorts of issues on movement of labor and visa travel. this is affecting risk appeti

morgan stanley was out with their impact. moderate case, 3.3 to 5% reduction in case. aggressive case, maybe a point. gary: what happened in term of the currencies? is that the one variable that could change and create economic slowdown that's not being anticipated? >> the thing to look at on that is looking at the dollar and how much it strengthened and look at the yuan. >> i don't think the fed is going to raise rates right now. over the course of the next three months i think things will be fine. gary: you don't think there is a 2017 fed rate hike? >> i would be surprised if there was. >> i think going into it we thought december was the most likely outcome. now we are thinking it pushes to 2017 for the next rate hike. >> announcer: a rout after the uk votes out. if your money is in the cross-hairs "wall street week" every day you read headlines about businesses being hacked and intellectual property being stolen. that is cyber-crime. and it affects each and every one of us. microsoft created the digital crimes unit to fight cyber-crime. we use the microsoft cloud t

we are joined by marc lasry and ben huneke, a managing director of morgan stanley.ere you surprised by the vote, marc? >> no, we were prepared either way. we ended up taking a look at it. if i had to make a bet i would have thought they would stay in. but for our portfolio we ended upsetting it up so it would be fine either way. >> we were definitely surprised. we were looking at the polls going into it thinking there was going to be a remain. our clients are strachg our heads wondering what they are going to do. gary: with mayor tom bradley, people were saying they are voting for tom bradley, but when they got to the polls they didn't vote for tom bradley. that was happening last night and it seems to be happening for donald trump. how much confidence do you have in poll numbers going forward? >> it was pretty close. at the end of the day i think everybody thought it would be 52-48, 51-49. and that's where it was, but on the other side. with brexit people didn't mow what was going to happen. a number of people sort of changed their mind at the last minute. but i th

we are joined by marc lasry and ben huneke, a managing director of morgan stanley.ere you surprised by the vote, marc? >> no, we were prepared either way. we ended up taking a look at it. if i had to make a bet i would have thought they would stay in. but for our portfolio we ended upsetting it up so it would be fine either way. >> we were definitely surprised. we were looking at the polls going into it thinking there was going to be a remain. our clients are strachg our heads wondering what they are going to do. gary: with mayor tom bradley, people were saying they are voting for tom bradley, but when they got to the polls they didn't vote for tom bradley. that was happening last night and it seems to be happening for donald trump. how much confidence do you have in poll numbers going forward? >> it was pretty close. at the end of the day i think everybody thought it would be 52-48, 51-49. and that's where it was, but on the other side. with brexit pele didn't mow what was going to happen. a number of people sort of changed their mind at the last minute. but i thin

we are joined by marc lasry and ben huneke, a managing director of morgan stanley.ere you surprised by the vote, marc? >> no, we were prepared either way. we ended up taking a look at it. if i had to make a bet i would have thought they would stay in. but for our portfolio we ended upsetting it up so it would be fine either way. >> we were definitely surprised. we were looking at the polls going into it thinking there was going to be a remain. our clients are strachg our heads wondering what they are going to do. gary: with mayor tom bradley, people were saying they are voting for tom bradley, but when they got to the polls they didn't vote for tom bradley. that was happening last night and it seems to be happening for donald trump. how much confidence do you have in poll numbers going forward? >> it was pretty close. at the end of the day i think everybody thought it would be 52-48, 51-49. and that's where it was, but on the other side. with brexit people didn't mow what was going to happen. a number of people sort of changed their mind at the last minute. but i th

to stick with energy because in terms of morgan stanley, upgrading u.s. toloration and production attractive and boosting brent oil to $80 a barrel from $60 and barrel, so people going long on oil should be interested in that news. looking at nymex crude, it is lower by .9%. stocks thatt energy are seeing the biggest point ayers and these are where they stand. stanley'se of morgan top picks. exxon mobil, you see at a 52 week high. on the flipside, i want to look at what is happening in terms of the tech sphere and tech is going the other way. with facebook, the interesting thing is the short seller has said face book is losing an extensive amount of relevancy and that it will not be a $330 billion company one year from today. falling on capital expenditure, announcing it will by linkedin and apple down 1.3%. iphone shipments will fall for the first time 2007 on lukewarm demand for the new model when it comes out this year. david: what is happening in the safe havens? ramy: look at what is happening now, basically the dollar index is flat after two days of

banks it has told morgan stanley to go back and try again on its plan without with outright rejecting it. 30 other big u.s. banks and operations of foreign banks the fed reviewed, one full stamp of approval for higher dividends and stock buybacks if a bank wants to do those. morgan stanley can proceed with those now too if it wants to as it revises its plan but the fed can halt them later this year if it does not approve the banks revised plan. this is the second part of the annual stress tests of banks with assets more than $50 billion to make sure they survive a major economic hypothetical downturn like the one we had in 2008 to prevent future taxpayer bailouts. on deutch and santander the fed rejected their plans, not for lack of capital but over qualitative concern, weaker internal controls and risk management. morgan stanley must resubmit its plan by end of fourth quarter of this year to quote, address certain weaknesses in its capital planning processes. david and melissa. melissa: peter, thank you so much for that. david: all right. well we had a lot of leaders talking about th

i think morgan stanley was stunned about this. it doesn't help their cash burn.they really can't figure out what this does to be able to build more cars. throughout this period this was a car-building story. obviously this is not the direction that wall street wanted them to go. >> morgan stanley also didn't get the banking business. that went to evercore here, even though there was some relationship there. not saying that would have anything to do with -- with him feeling free to express his opinion. but given how positive he's been, it's interesting. one day later, i'm curious. i spoke to a number of shareholders who said i was disgusted a bit yesterday, people still wondering what is exactly the new strategy at this company after -- if in fact they succeed in buying solar city. >> when i talked with people yesterday here and i spoke with a number of cfos last night, you thought that they want to talk brexit. no. they wanted to talk about survivabili survivability. they wanted to talk about the notion of what elon musk was up to doing this. people were flabberg

got morgan stanley conditional permission to boost its dividend 33%.. home secretary and former mayor of london will today make their pitches to succeed david cameron is conservative party leader. the bank of england governor mark carney is setting up to face the brexit crisis. he will speak to the media in a message of reassurance that cap stays up market turmoil and political carnage. six -- overseas bank says it will temporarily halt property purchases in london due to the uncertainty caused by the brexit vote. he said that monitoring the .nvironment closely global news 24 hours a day powered by more than 2600 journalists in more than 140 countries. find more stories on bloomberg. the international technology conference takes place in paris where were asking business leaders what impact brexit will have on europe's take industry. our guest has a lot to say on the subject. >> this is the first edition of the technology conference in paris. the likes of google, face of, uber will be speaking on stage and happy to be joined by the founder of this event

morgan stanley at 73% of book value. people were worried but the fed gave them the okay to buy back stock. kkr is in a wonderful position trading at roughly back value and makes no sense. >> a lot of banks below book and people don't believe the book. you believe the book in. >> that's right. so i would say that morgan stanley has a much cleaner book than some of the other big banks do. it's basically a lot of stocks and bonds. and the book right now, again, it is 73% of that book. a bank of citi or b of a you could argue is tough to analyze. >> tony, what are you doing with them? >> thanks for the question. we own them. we like them. we think their balance sheets are very clean. they stand trial every couple of months and stood trial last week and passed with flying colors. again, here recently. and now they're upping the dividends and engaging in buybacks and we think that's a stage of more to come in that regard. >> all right. are you willing to touch any of the foreign banks, european banks at this point? are they ju

but that required morgan stanley to submia revised capital plan by the end of the year.sing their do notass the test because of the fed's concerns about their ability to measure risk. treated to the brain might on the bank announced it would triple its shareholder dividends. facebook out wh more information about how decides that his 1.68 billn users see every time they say not that it will give priority at the expense of publishers who rely on referrals for traffic in their site. this policy report last month that clas contractor show bias against coervative viewpoints in the site's training topics. u may see a friend's kids are things like that. lauren: some people find it anying. investors get more information. in a meeting in california report indicates arise in the at&t of private equity firms have come in a range of $46 billion. yahoo! stock earlier this week fell to its lowest level in three nths. it did close 2% yesterday. shares are down just about% in the last year. nicole: i am a prime number. amazon has announced the date for prime day. they will be connected

former morgan stanley ceo will join us. it's coming up. amount of data your enterprise uses goes up. smart devices are up. cloud is up. analytics is up. seems like everything is up except your budget. introducing comcast business enterprise solutions. with a different kind of network that delivers the bandwidth you need without the high cost. because you can't build the business of tomorrow on the network of yesterday. because you can't build the business of tomorrow intensely-flavored.. colorfully-diverse. beautifully-misshapen. cultivated for generations, it's the unexpected hero of any dish. when you cook with incredible ingredients... you make incredible meals. fresh ingredients. step-by-step-recipes. delivered to your door. get your first two meals free blueapron.com/cook. >>> global market alert. brexit fears ease. is the rally for real? >>> the u.k. decides the world watches. we'll talk about the impact of this week's big vote on everything from banks to jobs. our news maker former morgan stanley ceo john mac. >> i remember my famil

check out shares of morgan stanley. off by almost 10%. goldman sachs, off by 7%. closing six-week lows. citigroup shares getting slammed. the stock off by more than 9%, hitting a three-month low. that was nothing compared to what happened in the european financials. p kayla tausche is on the ground. we saw in the shares of european banks was really nothing short of devastation. >> reporter: no, it was a complete repricing, melissa, across the entire sector. it's safe to say the major banks on either side of the atlantic were able to stave off any major dislocation in the markets by handling torrential amounts of client volumes and putting restrictions in place to be able to do so. now there are a few key questions remaining for the banks as we think about going into the weekend, and the markets opening next week. first, how are the banks going to fund themselves? it's clear it's getting more expensive to do so. the spreads between libor rates and the overnight index swaps spiked this week. one month, three months in the future, it's seen as a gauge on how risky in

we got a reit buy from morgan stanley this morning saying the se selloff is overdone. it's okay. stock moved up ten points, percent and a half increase. this was a halfhearted, half baked push. yet, morgan stanley kept it to alba bet target at $865. with friends like that, who needs enemies? i like alphabet. a huge cash position and lots of opportunities. this company has a gigantic foreign earnings stream and heard the slowdown talk endlessly. not to worry, innovation-based drivers still intact. i afree, but i think alphabet would have been up more today without this not so helpful, somewhat tepid read of bye. whi buy which brings me to an interesting juncture. the darned ill lit ration has been the only thing keeping google in f.a.n.g. i mean, honestly, isn't it time to recognize even though the future is incredibly bright for this when it comes to bounceback candidates, google no longer rebounds like it used to. and it has been overtaken by a couple of other better rebounding names. who's better at bouncing back right now? first on the list is broadcom. the communications semi

jp morgan stanley, holding onto gains to some extent.round 10-year note -- 7:00 a.m., a bit of buying coming into the treasury market in the yield a lower. -- treasury market and the yields go lower. this comes after a two-day drop of 1025% on friday. friday.% on the worst performance today -- morgan stanley is reassessing european banks to reflect the possible impact of brexit. lloyds, bnpludes , clydesdale and handles bank. these of the banks since last friday, only one bank rising, hsbc. the industry is down 17%. luna credit is down. replace planning to federico. more on that later. a lot of been head -- a lot of been said about the ftse 100. it posted its losses post brexit. since friday, it is up by one half of 1%. ftse --e stocks on the have now declined double-digit since friday. the ftse 250 is down 7%. check out the big gainer and the big decliners on the ftse since friday -- the gold producer up 29%. down by a third of their value using -- losing 30% in the space of a few days. quite incredible. julie was talking about the 10 y

downgraded by morgan stanley, what is going on there?> there is concern about the north american business. analysts, there is some market share being lost. adidas had some nice hits with fashion space and the under armour is doing well with -- with a basketball shoes. an impact is this to under armour? >> sports authority, more than -- stores. they had a plan to reorganize and cut some cost. they thought, sales might be reduced but we will still have them. sports authority did not make it out, the liquidated. under armour went from about a sales production of $500 this year to 5.9. they are projecting nice growth. >> we are seeing that online sales have taken over the terrorist. what happens with the sports industry? is true that online is definitely hurting these guys. they sellhe way things. they are doing a lot more of their own sales. more throughstuff our own channels. under armour has a big.com business. that hurts the sports authorities of the world because under armour and other brands are doing their own going. i am hearing of t

shares of morgan stanley calling 10% today.look at the same function -- sim function on the bloomberg, this is the biggest decline since 2011. the egg is one day decline since september 2011. tom: this really bears watching in the last hour and a half. headlines from dark tools. this is something we will be talking about very much through the summer. scarlet fu and alix steel, they own the show. stay with us. bloomberg markets. ♪ >> live in london in bloomberg world had quarters. i'm scarlet fu. >> i'm alix steel. morgan stanley is down 10% on the day and the steep it lost since september of 2011. it is the lowest level since a few days ago. nonetheless, the steepness of the decline you really have to key in here. scarlet: banks across the board getting crushed. if you look at the bank index, 24 members, all 24 members are lower. first republic has no exposure to overseas markets. it is not headquartered anywhere outside the u.s. and doesn't have branches outside the u.s. is what i meant. stanley downmorgan 10%, kbw bank index

rebuffed said to have multiple takeovers after hiring morgan stanley.y turned down to suitors with offers below expectations of $30 or more a shares. falling .5% this year. $2.76mpany is valued at billion. they have technology for detecting advanced hacking attacks. up, video is searching vimeo isw ceo -- searching for a new ceo. we speak with joey 11, next. check us out on the radio -- you can listen on the bloomberg radio app and in the u.s. on serious xm. more "bloomberg west" next. ♪ mark: i'm mark crumpton. let's begin with a check of your first word news. florida officials say the body of a child who was dragged by an alligator into a lagoon at walt disney world has been recovered. >> at about 3:30 today, we recovered the remains of the two-year-old from the water. body has now been turned over to the orange county medical examiner's office. disney officials today closed beaches at the company's resorts. the orlando, florida massacre has some senate republicans pushing to expand the fbi surveillance authority. the agency has a long-standing reques

the sec has hit morgan stanley with a million dollar fine to settle allegations morgan stanley failedct consumer information taken by former advisor. they say the bank failed to adopt written policies and procedures designed to protect customer data. suzuki's long serving ceo is exiting his post over the testing gamble. the company's executive vice president is also resigning. directors will waive their bonuses while senior managing officers will see there's cut in half. the resignations will take place later this month. that is the bloomberg business flash. "what'd you miss?" it's not just about brexit. opposition to the european union is growing across the region. votes across the region have lost faith in the eu alix:. what is behind this dip in support? our guest joins us now from washington. you have a staggering chart that shows a deterioration of pro-eu sentiment. all across the board, whether it is greece or another country, what was the most striking part of your survey? i think what was very striking is we have seen a slow, minor recovery in the last two years, but it kind o

morgan stanley and j.p. morgan chase will leave the ipo -- will lead to the ipo. come as soon as this year. our ipo reporter is here with me in the studio. what do we know? >> this is an exciting new in my world because there hasn't a lot of activity in tech ipos. with carbon black hiring these companies -- this is a cyber security company, it's backed by big names like blackstone and kleiner perkins. this is a company that is making moves and taking steps toward going to market, which is an unusual thing these days. when you look across tech ideas, one of the big complaints is there's no supply here. this one is taking the steps to go public and give an exit. emily: mark andreessen yesterday said that he sees a lot of pent-up ipo demand. but also entries in horowitz is -- anderson horowitz is counseling their companies to be ipo ready. alex: which hasn't really been the case. as i come out here there seems , to have been a shift. if you look back six months ago there was this idea talking to vcs and executives saying we don't want to deal with reported quarterly

barkley, citigroup, morgan stanley. bank of america, jp morgan several hundred of thousands of dollars to millions of dollars donated to the clinton foundation. you can say you are going to reign in the wall street banks and whatnot, but you're certainly not reigning in the donations that they are giving to you or the ones they are giving to the clinton foundation. >> all right. can i see the hypocrisy of that of going after saying horrible at the same time taking money from them or doing -- giving speeches to them. what i don't understand, going back to my original question, if you are just sitting here watching, are these big banks demons? are they destroying our economy? how do they need to be reigned in? what are they doing to me? >> i think what happened was in the wall street bailout, which i think was a big mistake. you picked a few banks that you wanted to save. you send tens of millions of dollars to citigroup. you sent to goldman sachs. one of the wealthiest companies on the planet propped up two different mea

in 2013, morgan stanley put the rupee under the fragile five list.strengthen the currency from that record low. at bypee swings have been half. if you look at the one-month implied volatility in blue here, it has come down significantly and help to push the nations fx reserves to an all-time high. down has also brought inflation from 11.5% three years ago. with thees along inflation targeting regime has helped to build india's credibility with investors. help the country over take a slowing china as the world's fastest-growing major economy. the big question is who will replace rajan. some names have been put forward. , ifdhati bhattacharya elected first female governor. urjitarvind subramanian patel, and shaktikanta das. analysts expect capital outflows in till and new successor is announced. however, some still see potential long-term for india, higher growth, positive returns, as well as high carry, but monday will be a tough one. detailedwe will have a look at his impending eggs it later on in the program. tweet us your thoughts. japan posting ac

morgan stanley was making the same dire predictions. we went through each storm, jpmorgan, morgan stanley. city group. they have no plans. privately when you talk to people at the banks, they are telling me the chances of them reducing their presence for the foreseeable future are zero. deirdre: the laws in the uk similar to those in the i.s., we are on the same page. but dublin said if you want to set up shop here, we are open. charlie: here is the problem. they don't have a banging infrastructure there. they don't have the access to a workforce. they don't have -- it's hard for a company -- deirdre: facebook and apple is there. charlie: it wouldn't be impossible. but it would be difficult. at frankfurt they are speaking german. this is key. what people were worried about. the banks overdid it by these predictions because they like the eu, they like the simplicity and the one regulator. they like the fact it didn't cause global turmoil. banks are of course from what i understand trying to scare people into thinking they might move out

the fed criticized some parts of morgan stanley process, but regulators are still letting the bank proceed for a stock buyback and quarterly dividend increase while it fixes the issues. >>> let's get back to the latest here in the uk and the political chaos. today is the deadline day to run for minister. slim it down to two candidates. there will be a wider party membership vote by early september ton two it has been slimmed down to. there are about 140 thousand conservative members who will be able to vote in that. among the contenders, boris johnson, michael gove, the big surprise this morning. theresa may, is favorite at the moment. michael gove, as we said announcing his intention in the past hour. i have come to the conclusion that boris can't provide the leadership or build the team for the task ahead. quite a swipe at his leave campaigner. in the meantime, here is what theresa may said in a speech minutes ago. remember she was a remain campaigner. >> brexit means brexit. the campaign was fought, the vote was held, turnout was high and the public gave their verdict. there must be no

morgan stanley, that gets their attention.age ratio, which was one of the things the feds look at, comes within a percentage point of the minimum. that is still good. it is not that close, that you're not on the break. alix: it is 4.9%, right? close. itu know, it's is the yellow zone. if they wanted to buy back lots of shares in the next 12 months, they might have to grow that down a little bit and not by as much back. or if they wanted to double their dividends, they could only increase by 30%. it might require more tweaking within the next six days, but they are not feeling failing. it's not as scary. scarlet: bank of america has been under previous scrutiny. it did not do that well in the last 2 years in stress tests. yalman: one part that we don't see from the numbers is qualitative. the fed actually scrutinizes very carefully how their risk management systems are -- are they reporting everything properly? are all this divisions sending the data in the right way? and bank of america fumbled on that front couple times. last

. >> morgan stanley, jpmorgan, all talking about moving stocks overseas in the case of a brexit.ne: i'm concentrating on the hitch of the country stays on the 23rd. one of the things at risk is the single market financial services . meaning that the u.k. is the headquarters for lots of companies that want to trade into the eurozone. i don't want that to be put at risk. you have had these big investors , like jpmorgan, making precise in this point, it's one of the great benefit opportunities of the eu. look at the upside, we've got a british commissioner develop the capital markets union. britain's businesses and london as a financial center and others in the u.k. are benefiting from that single market as it deepens . that's the big upside for financial services in the u.k. if we vote to remain. >> final question, the prime minister has said he plans to stay on. you want to remain as chancellor regardless of the result? mr. osborne: i serve at the request of the prime minister, but this is a job where i have got a huge amount more to do and to give and i want to make sure that i'm

emily: morgan stanley originally wrote down their investment specifically by 27%.t are some of the specific challenges amazon and jeff bezos will be running into? there's so much talk about the slow governmental progress and bureaucracy in india. can amazon really cut through that? spencer they have adjusted their : model. they operate as a pure marketplace model. they are not owning inventory, they are simply a pass-through connecting buyers and sellers. , they do that in the u.s. as well, but they do a hybrid version where they own inventory, and are also a marketplace. so they are able to find a loophole to operate there, and big challenges are shoddy internet connections that can go out all the time and also infrastructure. so they have people making deliveries on dirt bikes over dirt roads. compared to ups trucks on a paved road here. there are a lot of challenges, but they also see opportunities. the second largest country in the world, e-commerce penetration fairly small. 4% or 5% compared to 10% in the u.s.. tremendous headroom. tremendous opportunity despi

morgan stanley wealth management >> announcer: we talk about anything that affected people and their money. from the fox business addr headquarters in new york city, the new "wall street week." anthony: welcome to wall *. i'm anthony scaramucci. gary: i'm gary kaminsky. since the height of the

meanwhile, we do have two at morgan of nike stanley and bank of america merrill lynch.e shares of las vegas wynn resorts after the games revenue in the month of may and fell 9.6%, more than analysts expected, as compared to the drop of 9.5% in april, so a little bit worse. wynnlas vegas sands and will drive 60% of the revenues, so that is the reason the numbers are weighing on both stocks today. megan: thanks. let's go to first word news with vonnie quinn. vonnie: thanks. police in the united nations are asking iraqi forces to spare children who are caught in the bundle. unicef estimates some 20,000 children are trapped in the city. family said not been able to leave since the began offenses to retake the city from the islamic state more than one week ago. a french ship may have detected signals to the black boxes of the egyptair plane that crashed into the mediterranean. egypt officials say they received signals from the seabed in the search area. the voice recorders are considered essential to finding out why the plane went down. board. on president obama is returning

morgan stanley wealth management . >> start taxing, goods coming from china.n: every day, politicians propose more rules. >> i'm very supportive of the mayor's proposal to tax sodas. john: unions love groups, they say they want, but are the protesters the real deal? >> i do not work for a fast-food restaurant. >> which fast-food restaurant do you work for? >> i don't work for fast food. john: bad rules give us warning labels. >> this may contain fish, warning. john: some

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