be reduced this fall from thirty billion euros a month to only fifteen billion euro some months mr draghi also shared some general assessment about the european economy how it's doing let's have a listen to what he set. while uncertainty is notably related to the global trade environment remain prominent the information available since our last monetary policy meeting indicates that the you are economy is proceeding alone is so broad based growth. meyer draggy the financial guru how many call him here they are speaking he also found positive words about the tram yorker meeting last night in washington saying that this seems to lead in the right direction. done in frankfurt thank you plunging shares of wired to more than one hundred twenty billion dollars of facebook's market value they fell as much as twenty percent on thursday the most in its entire history marked marked the largest ever loss of value in one day for an american traded company one reason is facebook's weaker than expected growth probably due to the effect of a data privacy scandal the tech giant's costs also continue to r

be reduced this fall from thirty billion euros a month to only fifteen billion euro some months mr draghi also shared some general assessment about the european economy how it's doing let's have a listen to what he said. while uncertainty is notably related to the global trade environment remain permanent the information available since our last monetary policy meeting indicates that the euro or economy is proceeding alone is solely be used groups. meyer draggy the financial guru how many call him here there speaking he also found positive words about the tram yorker meeting last night in washington saying that this seems to lead in the right direction. in frankfurt thank you. mentioned posted some pretty bad results today the german comic has said second quarter earnings were down twenty nine percent on the year even though the maker of must say he's been sold more cars and trucks than most that terrorists are partly to blame for the profit shortfall in europe dunn was also dealing with a major recall of diesel car. plunging shares have wiped more than one hundred twenty billion dollars

mr. draghi, what do you mean? three months might not seem a big deal but to people in the market that is a big deal. if they are pricing for the ecb to move at the and of the summer but mr. draghi means at the beginning, that could do a bit to the curve. the market does not seem to be racing in an increase until december of 2019 which is months past summer and also pass the time mario draghi retires from the big chair. is it possible that he leaves without raising rates? that has been the general assumption. people have been working on that that mario long time draghi does not want to be the man that raises rates, he wants to pass that on to someone else. it is possible that will change and we may hear about it today. then again, mr. draghi has been good at putting these things off and letting someone else discuss it later on. it will be an interesting day. matt: i'm slowly. thanks for your time. mark cranfield, bloomberg mliv strategist, you can follow his inside -- insights and the rest of the teams. we will sho

mr. draghi could say that would break us out of that range? improve flat despite some geopolitical risk premiums that should be priced in considering the conflict with who the rebels from yemen. yemen.hi rebels from she is already laughing at us, gina martin adams, bloomberg equity chief strategist. david warner, the facebook cfo, gave these reasons for currency being low -- greater user control over privacy. here is what one analyst had to say on the call yesterday. >> i want to go back to the magnitude of the deceleration. i think many investors are decelerating.em that type of deceleration considering how good the advertising advertiser feedback is on your platform. it just seems like the magnitude is beyond anything we have seen, especially crossing the number that we do not cover. alix: that is a nice way of analysts saying "what the what?" [laughter] alix: i will pull it up. anyway, gina, talk about how bad this is for facebook and overall tech. gina: obviously it is very bad for facebook. we have to remember, a company this size having

mr. draghi: it only creates protectionism. ng, united european union can help reap the benefits of economic openness while protecting its citizens against unchecked globalization. draghi also called for the eu to "lead by example" in lowering trade barriers across the globe. once a provision written into the draft of this country's new constitution that would require a new presidential election before being implemented. the spokesman said the move should and bank speculation that beyonds to expand office 2022. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i am kailey leinz. this is bloomberg. david: thanks so much. late last week, british prime minister theresa may thought but she finally brought people together to negotiate, but then david davis thought it over and decided he could not go along with the plan, so he quit. a few hours later, it was her or and secretary's turn, boris johnson, he quit as well. welcome emma ross thompson. thank y

mr. draghi leaves his post we think the balance sheet contraction program is also likely to remain intactll end their bond buying program by the end of this year and face gradually increases in their selling down of bonds. when it comes to the uk, we think that the key issue in the uk is that the cyclical slowdown is at a further stage than it is in the rest of europe. we have signs of weakness in retail and also in the property sector and that could be exacerbated by the domestic political backdrop. so those factors mean that in the uk there's a decreasing possibility that the bank of england will raise rates aggressively so far they only raised rates once to 50 basis points. it's ten years since we had rates higher than 50 basis points >> you mentioned the domestic political situation in the uk. britain's new brexit secretary is off to brussels to meet michel barnier today there still seems to be a diminishing chance of a leadership challenge for theresa may. i have to ask you this straightforward question how do you rate the chances of her surviving until march 2019 >> we think we woul

mr. draghi need to do?e reviews does he need to take a more aggressive approach to normalize? >> we need to start talking .bout draghi the man he cannot look beyond 12 months for the simple reason that he will be impinging on the next president of the ecb's tenure. very politically, will be controversial. i want to go back to the textbooks you are reading it we need to go back to a start if we are talking about positive nominal yield, then we need to talk about debt cancellation. what should we look at? $235 trillion globally of debt. if that starts to be canceled of ofturned to a period the nominative positive interest rates, i think we are so far from that on a structural basis that we need to be looking at very different instruments at which this cancellation said top of the list. guy: thank you. to be there, the most important thing happening in sweden today is what is happening later today. coming up on bloomberg, stephen engle under his joining us. standard chartered bank. that conversation at 9:00 a.

where the asterisk comes in there's no doubt all central bankers of the era, ben bernanke, mario draghi, mrn in the u.s., all want to save their respective economies, i don't think there's any doubt about that the real issue is that until we get exit, it is hard to say whether it was a success in the grand scheme of things certainly it seemed to have stopped the tide, and there were big tides at the time. that isn't my definition of success. i understand those issues. in the u.s., we can debate how they bailed out banks. the real issue is how long this policy remained in place and what damage that indeed has done what companies exist today health of the banks, especially in europe today versus then. maybe securities are acting differently. in many ways, that's more policy give you an example. one week after he said that, they introduced omt. but they scrapped it just like they scrapped but they scrapped it just like paulsen's first plans. and qe ended up taking it over the real issue is markets were saved. but the inventory of much of what saved them still hasn't been undone. jon fortt, bac

you will the esktss on inf hit, in terms of trying to deal with them and deal with them, mario draghi, mrrota will at some point everybody's talking about what's going on with nato and trade and as well, they should i have some advice for the president. before he left office in 2005 to authorize -- fast forward. these are all pipelines so associated with giant oil companies, owned or majority owned by the russian government. gas prom rose ne. we are trying to hold nato accountable when the exchancellor is at in games with putin. back to you. >> see you in a little bit when we come back, more on the sell off today dow's down sl 1. got another chance to contribute to a great charity the fund found ed by our former colleague and his wife this time, you can win the chance to spend the day at our san francisco bureau where you'll get a two-night stay, hair and makeup, record your own newscast, meet our san francisco team sounds like a lot of fun. to bid, go to charitybuzz.com. search for cnbc. he'll be right back. only about 80% of your part b medical expenses. the rest is up to you. so consid

draghi and the ecb. are you we can see rates increase in how important is this year business -- to your business? mr.ewing: we are focused on the next 18 months. we have set ourselves clear goals for the next 18 months for 2018 and 2019. we are saying we want to have a return on equity of 4% at the end of 2019 and that does not depend on the rates increase. plan what we can actually influence, that's cost and capital and that's what we're doing. it would be nice to have a rate increase, however, is not in my hands and this is not an underlying driver for the next 18 months. it's always hard to react rate increases and therefore this is not part of the plan over the 18 months. alix: that was deutsche bank chairman and ceo christian sewing. joining us from freiburg is matt miller. no pressure on that interview, nice job. there were questions as to deutsche bank is going to stay in london or have to move because of brexit. did we get any read on that? matt: absolutely. a lot of you have been speculating about whether deutsche bank would give the material presence in new york are not as well. he told me