so that's when we opened borrow bank, our national bank. we are in the process of now starting to bring customers into the banking platform. it's a super exciting time for us. >> there are a lot of apps that people would use, venmo is a good example. you might store money, then use it to pay other people. those are not banks. right? >> that is correct. many of those are working with partner banks. when i started the company, i was fairly pragmatic about the fact that getting a national bank charter was going to take time. we approached the bank corps bank, or partner in the early years. they were a great partner for us. they allowed us to get a product to market, to gain valuable insight around problems the consumers are trying to solve and how we can address those. that was a really important way for us to get to market quickly. it's the path that many pursue. they work with partner banks. they identify solutions and they develop technology -- app-based technology to solve those solutions. i think being a bank is kind of in a very different

that there are a wide variety of circumstances in which the fed or the bank of england or the national bank. it is very clear that argentina's habit of doing that has reached exhaustion. it is a company with a lot less flexibility than many places. another thing that has been agreed to is it has placed new limits on the amount of central bank financing for the government. it is a country in huge difficulty. when we see a private sector shut down as we have seen everywhere this year, being a can't use thatou lever, it leaves you in a compromising situation. alwayse: paul mcnamara, great to have you with a -- have you with us. if it is not going to be the lira every 30 minutes looking a your phone, what will it be? beyond meat? meat, theitely beyond lira, and the russell futures. romaine: keep an eye on nikola. joe: the 30-30-30 portfolio. your lira, beyond meat, and nikola. whenine: i miss the days we just got to talk about tesla valuations. joe: it is coming back. caroline: you know what will haunt you forever. brexit. that is all for "what'd you miss?" technology" is next. romaine: this is

but one of the optimists is christoph neve he analyzes financial data for south africa's 1st national bank christopher what's the data saying that makes you so up to mistake. yeah look it rather than having to predict the future we can actually use that day so what we what we've seen is that the economic fallout was because of the severe lockdown measures so i pull was a shocking math on our you can be base we saw a 60 percent fall in expenditure on from any country speak of across our base we saw 26 percent drop in income so their visual statistic showed 2000000 people didn't get paid and that's 13 percent of workforce we we showed double that effect from a financial perspective a 26 percent drop in innings the good news is though that it actually drink very rapidly so so maybe it was already better because we went from lock down 5 into lockdown 4 and they need to lock down 3 things quite rapidly improved 2 to the point where when we wrote this article you know it's been 2 weeks ago we were sitting at minus 3 percent on income and expenditure and for the month of october we just got out t

but one of the optimists is christoph neve he analyzes financial data for south africa's 1st national bank christopher what's the data saying that makes you so want to mystic. you know like you rather than having to predict the future we can actually use that day so what we what we've seen is that the economic fallout was because of the severe lockdown measures so i pull was a shocking math on our age of the base we saw a 60 percent fall in expenditure from an income perspective across our base we saw 26 percent drop in income so there fishel statistics showed 2000000 people didn't get paid and that's 13 percent of workforce we we showed double that effect from a financial perspective a 26 percent drop in it the good news is though that it actually trick very rapidly so so maybe it was already better because we went from lockdown 5 into lockdown 4 and then into lockdown 3 things quite rapidly improve 2 to the point where when we wrote this article you know it's sort of 2 weeks ago we were sitting at minus 3 percent on income and expenditure and for the month of october we just got out day

to rebuild business, we called for a national investment bank andi called for a national investment banknk and i welcomed the announcement of a new uk infrastructure bank, having lost valuable years since the green investment bank was sold off. now the chancellor must boost its firepower and he must deliver on his department's responsibility for the drive to net zero. we have known since the stern reports that the climate crisis is the biggest long—term threat to our economy yet far too often, this spending review looks at into a path that will make the transition to next zero harder, not easier. looking our economy out of the greenjobs not easier. looking our economy out of the green jobs of the future. to rebuild business, chancellor also needs to listen to business. we are less tha n needs to listen to business. we are less than a week from the end of the lockdown yet we have heard nothing about whether extra support will be provided through the additional restriction support grant for areas subject once again to tough restrictions. the chancellor still threatening employers with an i

this is all attempts, national banks for choosing us this sunday. very good to have you with us. well, to start us off this hour with a french bill intended to protect the police has sparked outrage a week and several days of rioting and paris. the new criminalizes, the filming of offices, if it starts with malicious intent, it's been pos by the national assembly and one later go up to the senate for approval. holderness. as you can see, police vehicles are moving down and pushing the protesters down that the street protesters who've come, i'm going against the global security lure to draw. 7 from real that's being discussed in the national assembly on tuesday evening. this is a rule which includes an element which if cost could make it illegal for people to disseminate to the coolant and publish images of police officers. if there is intent to harm criminalizing shoot all of the could lead to mourning amphoras who are in 845000 500. thank you. thank you for help. i've seen women having their hay young and being used to be grabbed by the head to be thrown to the floor by police o

gradually reopen, but restaurants, cafes and bars have been ordered to remain shot across the national banks and campaign will begin in the coming months, but it won't be mandatory. and the head of the european commission has warned against easing lock down, restrictions too quickly says a u. nations risk a 3rd wave of infections if they reopen their economies too early. she says any hasty moves could lead to a surge in cases after christmas. at least 4 people died when a boat carrying refugees and migrants capsized off the spanish island of lands are all say, at least $35.00 people were on board when it smashed into the rocks in result on tuesday, evening. rescue workers say 28 people rescued. the local media is also reporting 14 others still missing. a japanese company is trying to bring a little bit of cheer and sparkle to all this gloom over coronavirus pandemic. it will only be for a select few. i think this is the 1000000 yen mosque. that's what they calling it started with pearls and crystals and more than a half carat diamond sells for 9 and a half $1000.00. and no one's bought one y

rates, the congress andupreme court decided in the late 1970's and early 1980's to allow both national banks and state banks to export their home state interest rates to other states. if you think back to that era, there was rapid inflation. inany states, it was difficult to g a loan. that was one othe ways we got through that financi crisis of the late 1970's. all that is going on in outrue lender rule is the idea that banks can originate these loans and they can sell those loans on the secondary markets as they always have without questioning the legality of the original intere rate authority. yoshi interest rate authority. the innovation of true lender to make sure somebody responsible for the consum protections associated with that loan. in the last 25 years, nobody has been responsible. we facilitate banks doing what they have had the authority to since 1978 and we make clear if they enter into these partrships, they are responsie for the fair lender law complice. and every other ing that neither the banks nor their partners have take accountability for ithe past. the point is to bring

on both accounts, amongst theral banks and here in area between the central bank in the national and european authorities, much improved coordination and cooperation. >> we asked the audience before hand questions and several of them have raised the issue of cooperation. one question is whether central banks should be coordinating their actions during more normal times, rather than during crises? what would you say to that? say theree: i would is a lot of cooperation, exchange of views, where we try to coordinate as much as possible and deliver on our respective mandates. we have different mandates. we have a lot in common. within the financial stability , we dowithin the bis talk to each other a lot and we compared notes and try to cooperate as is appropriate in accordance to our respective mandate. that is the way i see it. to there i turn longer-term consequences, let me ask you, governor bailey, but also chair powell, to comment on this. there is quite a bit of criticism that policies are creating unhealthy asset bubbles and there is a question about whether they need to be accomp

the swiss national bank is clearly on the others.rie: thank you so much for joining manus and i this morning. now let's get the first word news. >> it is election day in the u.s.. the latest polls show joe biden's leading donald trump nationally as well as in key states. campaign thinks a surge in early voting will help democrats but trump argues those heading to the ballot box can wipe out the early advantage. twitter says it will not let candidates claim victory. it will required tweets to cite their sources. two national news outlets or state officials. that do not follow the guidelines will be flagged. killingng in vienna three and injuring 15. police shot dead one of the gunmen. it was not clear if he was acting alone or with others. the interior minister saying the shooter was a supporter of islamic state. global news, 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. coming up, pandora warns of the downside risks from the pand

. >> i am going to go with valley national bank. i bought the stock an the calls.ing higher. >> guy >> mel, 45 years ago the he had mond fitzgerald went down on a cold >>> and an unshakable commitment to keeping each other safe in honor of veterans day, jim cramer, gives thanks to those for whom the greater good is their life's worth "mad money" salutes to service starts now ♪

almost 60% opposed and initiative to ban the swiss national bank from investing in defense companies. second measure to hold multinationals responsible for human rights and environmental lapses also failed. global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. annmarie, manus? manus: thank you so much. laura wright in london. coming up, china's recovery on track. strong economic data pushes the gauge to a three-year high. details to come. this is bloomberg. ♪ ."nus: it is "daybreak: europe the latest numbers from china are in, and we are in recovery increasing. meanwhile, the pboc injects $30 million into financials, addressing the concerns of liquidity. yogi dewan is at hassium asset management. we will have to pay you to buy banks, but how much encouragement are we going to have to give you to load up on china mainland equities in the first instance, given the data sweeps we have just had? guest: we are overweight china, specifically commerce, education, and health care. we saw

almost 60% of proposed an initiative to ban the swiss national bank from investing and defense companiessecond measure to hold multinationals responsible for human rights and environmental lapses also failed. global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more i'm 120 countries, leigh-ann gerrans. this is bloomberg. francine? francine: the latest reading on china separate economy shows its recovery is gaining momentum. pmi data from manufacturing and nonmanufacturing both top forecasts with the factory gauge getting a three year high. for more on this, we are joined by our chief asia economics correspondent, enda curran. happy monday to you. what is driving this recovery? enda: thank you, francine. isa points that china recovery now is pretty stable. accelerating well away from -- we know the manufacturing side of things is a hard enough story. exports hit a record share from china early this year, and a lot of this is being driven by global demand, robust domestic consumption. it is a big global story from chinese goo

opportunity outside just the large traditional banks, but i think for the -- again, for the larger national banksying on deposits and loans i think they're going to really struggle for profitability. and the impact of that is very much -- it's not on solvency because i think the banks have very high levels of capital, it's really in return on equity, where are they going to get the revenues from to get a return on equity and therefore a negative impact on the price to book value and a negative impact on the equity prices. >> the dynamic that you're talking b bob, has really played out in the market in a big way today and over the last few months where names like paypal and square have surged on days where the bank stocks sell off jim cramer was talking about how it's sort of the reverse trade, you see a lot of options call buying on days where the big banks go down and names like paypal and square. question is are those stocks overvalued are they pricing in too much in the way of growth? or do you stick with that kind of reverse trade >> i mean, it's very different for very different platforms, o

national bank. i bought the stock an the calls. i think it's going higher. >> guy >> mel, 45 years ago the he had mond fitzgerald went down on a cold >>> and an unshakable commitment to keeping each other safe in honor of veterans day, jim cramer, gives thanks to those for whom the greater good is their life's worth "mad money" salutes to service starts now ♪ hey, i am cramer welcome to a special "salute the service" veterans day of "mad money. i am trying to make you money. my job is not just to entertain you but to educate and teach you. call me at 1-800-743-cnbc or tweet me @jim cramer the old normal has died. the new normal has born. now is time for nuance the dow gained 263 points. i think we have gotten into the point where gross and values which people throw around all the day. covid is exploding but a vaccine is on the way along with a new president. you need to be prudent and rigorous than that you buy the cyclical so you buy the software i mean there is some powerful, simplestic concept here. so why don't we start with th

, we'll take you there live "squawk alley" is back in a moment >> announcer: sponsored by city national bank's their business to be personal our retirement plan with voya gives us confidence. they help us with achievable steps along the way... so we can spend a bit now, knowing we're prepared for the future. surprise! we renovated the guest room, so you can live with us. oooh, well... i'm good at my condo. oh. i love her condo. nana throws the best parties. well planned, well invested, well protected. voya. be confident to and through retirement. hey, our worker's comp insurance is expiring. should i just renew it? yeah, sure. hey there, small business owner. pie insurance here with some sweet advice to stop you from overpaying on worker's comp. try pie instead and save up to 30%. thirty percent? really? sure! get a quote in 3 minutes at easyaspie.com. that is easy. so, need another reminder? no, i'm good. reminder for what? oh. ho ho, yeah! need worker's comp insurance? get a quote in 3 minutes at easyaspie.com. >>> the market continues to be led this time by the nasdaq, u

spurred president obama to put her in charge of the federal reserve in 2014, keeping watch on the nation's bankseconomic stability. >> i'm honored and humbled by the faith that you've placed in me. >> reporter: by the time her four-year term came to a close, however, donald trump was in office. he once said yellen should be ashamed of her work and has openly criticized the fed ever since. >> the federal reserve raised the rates too fast and too soon. >> reporter: yellen never blinked. >> obviously the president has a right to comment on the fed but i would worry that if it continues or intensifies that it could undermine confidence in the fed and the market's confidence in the fed's judgment. >> reporter: since the 1700s, when alexander hamilton served as the first treasury secretary, they've all been male, including trump's man steve mnuchin, who has a deep pedigree and business and has staunchly refused to hand over the president's tax returns. >> i've had no conversations ever with the president or anyone in the white house about delivering the president's tax returns to congress. >> reporter

there's a physical location or at least some kind of a national brand, you know, recognizable national bankhat you've got some recourse, right, if things go haywire. >> reporter: now a beam spokesperson says the company is under strict obligations not to comment right now but there will be a statement at the appropriate time it's a growing number of fin tech companies, these are technology companies that handle your money but they're not banks so they're not regulated like one. the ftc says it's spending a lot more resources policing this new industry if you do run into a problem, do what dozens of beam customers did and file a complaint >> scott cohn, thanks. >>> a kid in texas helping his neighbors one plate at a time, and a mountain rescue fit for hollywood on a cnbc trip, coast to coast >>> california, a hiker trapped under a boulder on mount st. helena, a highway patrol chopper spotting him using a flashlight as a signal. the man said it took him ten hours to free himself enough to rip his jeans and get his cell phone to call for help rescue crews tracked him down using gps and pulled

. >> valley national bank corps. i bought stock and calls. >> that was quicker. >> objection thank you. "the exchange" starts right now. >> thank you, scott and everybody. and i'm kelly evans. welcome to "the exchange" everybody. here's what's on tap investors are fleeing the names during the pandemic and piling into recovery plays. the cma averages once again. should you make the move or chase it we'll talk about that. one more thing apple is kicking off another product event right now with big implications for the text sector we have the highlight and the trade ahead and what to expect from a biden administration. our expert has throw things he says could get done. we'll tell you what those are. let's start with the markets the state of play looking very familiar dom chu has more on that. >> reporter: a bit more of a chew decidedly positive moves yesterday faded into the closing bell still, with the 57 at highs we were down throws are trendy lower in if you want to talking about that real retail that i snufltful of

. >> valley national bank corps.t stock and calls. >> that was quicker. >> objection thank you. "the exchange" starts right now. >> thank you, scott and everybody. and i'm kelly evans. welcome to "the exchange" everybody. here's what's on tap investors are fleeing the names during the pandemic and piling into recovery plays. the cma averages once again. should you make the move or chase it we'll talk about that. one more thing apple is kicking off another product event right no

compared to buchanan, he held a lifelong disdain for the national bank, opposed tariffs, opposed the war of 1812. elected in 1819, king believed in states rights at the expense of federal authority, greater access to the public lands at the expense of the native american peoples, and making a profit planting cotton at the expense of enslaved african americans. his commitment to the racial hierarchy of the slaveholding south was whole cloth. at the same time, king supported the continuation of the union, and resisted talk of succession. marking him as a political moderate for the deep south. for his lifelong loyalty to the party and to balance the ticket, he was selected as the running mate under franklin pierce in 1852. elected to that office in november, he died from tuberculosis in april 1853, having barely served one month of his term. king sharedn and one essential quality in common decides their political identification with the democratic party. both men were lifelong bachelors, never marrying during their respective lifetimes. however, each man can speak of a long ago romance

eleanor roosevelt told reporters that hoover asked her husband to support closing the nation's banks temporarily to head off panic withdrawals. roosevelt told hoover, quote, like hell i will. if you haven't the guts to do it yourself, i'll wait until i'm president to do it. the meeting deteriorated from there. fdr said his son, james, quote, wanted to punch hoover in the eye, end quote. one historian's take on this transition period is that hoover was laying the groundwork for his own political comeback. quote, hoover's strategy now was to show that the foolish new dealer had been given every chance to come to his senses. when fdr failed, hoover would be redeemed, and the people would return him to the presidency. already planning his next presidential run four years later, before he was even out of the white house. sounds like someone else we know. but one productive thing did happen during the hoover/roosevelt transition. the 20th amendment to the constitution was ratified, moving up the date of the inauguration day so that no president would ever again have a four-month lame duck

. >> she worked at the first national bank. >> she liked that job?oh, yeah. >> she liked -- she loved it. >> that was her dream job. >> by then jessyka and dominick lived in the little house on the north side of town. >> it wasn't very big. but dom had the bigger room. and she's like, well, he has more toys, and his bed has a slide. and i'm like, he has a slide? and she's like, yeah, he needed a slide. i'm like, yeah, he -- sure, he needed a slide. it was just -- she gave everything up for him. he was her world. >> in fact, jessyka's last words on facebook the night she died when dom was at his dad's were, "i am such a mess when dom is gone." >> she had lost the remote and thought it was the worst 15 minutes of her life. >> she was lost, yeah, without dominick. because he could find the remote. >> but -- >> she just put out there that she was home alone. and she did it without even realizing. >> so if anybody was following her, they'd know. >> yeah. >> they'd know. >> but, of course, someone was following her on facebook. maybe quite a few someones.

we need to recognize covid-19 is a global pandemic, some nations, one bank estimates the pandemic will push an estimated 170 billion people in property and they are rising. 11 million girls never account for education. around the world. does the prime minister agree with me, keeping it at 0.7% is not only the right thing to do but the sensible thing to do helping with the eradication of covid-19. >> prime minister. >> the uk should be playing a leading role in eradicating covid-19 around the world and that is why one of the wonderful features is approved, it is going to be sold at cost and i wonder if he knows how much the uk will give to the global vaccine alliance. we should be proud of what we are doing, $800 million to say nothing of what we are doing and other organizations. we are in the lead in promoting not just inventing vaccines and making sure they get those vaccines. they should be very proud of what they are doing. >> kate griffiths. >> thank you, mister speaker. i welcome what the prime minister said, by 2025, meeting its target, hands -- >> prime minister. >> they will u

so tyler, as he sort of subvers the wig agenda, most prominently with the vetoing of two national banks end up getting formally excommunicateed from the wig party. henry clay leads the charge to kick john tyler out of the party, the nation's first accidental president becomes a president without a party. he, like all accidental presidents becomes obsessed with this idea i am determined not to be an accident. i need to win election in my own right. so the only path for him to win the election in 1844 since she can't run as a wig and the democrats don't want him anyway, is to change the political discourse and covertly annex texas so if we look at the impulsiveness and radic behavior of our current president, i remind you john tyler in a moment of political rage and impulsively annex texas which precipitated war with mexico and brought us one step closer to the civil war. going back to the have a kansas, this is important, on february 28th, 1844 john tiler is sailing on the potomac on board the uss princeton, it's a gala on board this state of the art nautical wonder design to settle nava

will the prime minister consider launching a new financial institution like a national developing bankachieve this? >> i am grateful to the campaign for that. we are putting that into the growth deal, to bring further measures. for firm measures to boost investments in uk infrastructure in due course. >> james murray. >> in march the government is keeping covid-19 deaths, a good outcome but still an enormous number of deaths. with gdp, 10% in the last year. why didn't the prime minister think the deepest recession and the highest number of covid-19 deaths. >> minister. >> a global pandemic, one in which the uk as he rightly says assess, every life that has been lost and supporting businesses in every part of the uk, no doubt we can get through this strongly, scientific advisors, tools of doing that with scientific weaponry, that is why we are engaged in the current restrictions, to try to get the economy moving the way we would like. >> most of our independence retailers are close to 2 covid-19 restrictions and they welcomed the report by the government, their concerns that supermarket

so, tyler, as he subverts the whig agenda, most prominently with the veto are of two national banks get excommunicated from the whig party. so henry clay leads the charge to kick john tyler out of the party. so john tyler, the first accidental president, becomes the president without a party. he, like all accidental presidents becomes obsessed with this the idea of, i'm determined not to be an accident. i need to win election in my own right. so the only path for him to win the election in 1844, since he can't run as a whig and the democrats don't want him because they're mad as running him as whig is to change the politics discourse and annex texas. so looking at the impulsive and erratic behavior of our current approximate, i remind you john tyler decided to covertly annex texas which precipitated war with mexico and brought is closer to the civil war. going back to the vacancy in the vice-presidency, this is important because on february 28, 1844, john tyler is sailing on the potomac on board the u.s.s. princeton and a gala on the nautical wonder designed to celebrate american naval

the deal would make it the nation's largest regional bank.as smaller lenders are giants to scale up, as j.p. morgan and bank of america move into new states and sectors. and the world's biggest oil company is set to return to the bond market for the first time since last april. saudi aramco is looking to find it $75 billion dividend commitment after weak oil prices left it without the funds to banksthe payout at including goldman sachs for that sale. that is the business. francine? francine: thank you so much, leigh-ann. how do you forecast details during the pandemic? many consumers are facing a christmas like no other. have been site for the web to make sure they bring the right product to the right person at the right time. mike brackett is the founder and chief executive of sanctuary tricity.of cen is it easier because you know where people are and you know where people shop mainly online? great question, francine. if you look at what last year's buying trends were -- if you imagine you are a multinational cpg company and are looking at l

so tyler, as he sort of subverts the whig, most notably with the vetoing of to national banks, he gets ex communicated from the whig party. john tyler, the nation's first accidental president, becomes a president without a party. he, like all accidental presidents, becomes obsessed with the idea of i'm determined not to be an accident, i need to win election in my own right. so the only path for him to win the election in 1844, since he cannot run as a whig and the democrats don't want him anyway because they are mad at him for running as a whig, is to change the political discourse and covertly annex texas. if we look at the impulsiveness and erratic behavior of our current president, i remind you that john tyler, in a moment of political rage and impulsiveness, decided to covertly annex texas which precipitated war with mexico which brought us one step closer to the civil war. going back to the vacancy in the vice presidency, this is important because on february 28th, 1844, john tyler is sailing on the potomac aboard the uss princeton. it's a gala on the potomac aboard this one naut

voters decide whether to ban the swiss national bank investing and defense company stocks.ll also vote on whether companies could face domestic legal proceedings if foreign subsidiaries or suppliers breach environmental standards. bitcoin and other digital coins are steady today after posting some of the biggest decline since the pandemic began. bitcoin fell as much as 14%. joining us now to discuss is dani burger. finding other excuses to write off bitcoin? >> it is not really possible to write off bitcoin. i love what eddie van der walt said. bitcoin is just the comeback kid of the market. this is the pattern we typically see. i am not the biggest fan of technical analysis, but it perhaps makes more sense to view bitcoin that way because it is driven by hopes and dreams more than fundamentals. followed byelloffs rallies that each time it happens, they get longer and longer. the volatility might make bitcoin less attractive as a store of value. we would have to see the asset calm down if it is going to rival things like gold, but we have seen more institutional investors,

you, christy tan from the national australia bank.recommendations across markets. this is bloomberg. ♪ juliette: time for our morning calls. let's get to sophie kamaruddin in hong kong, who has been tracking insights with janet yellen from the treasury. what are the expectations here? sophie: i want to highlight a note, sang janet yellen will easily win confirmation and bipartisan support, regardless of the georgia senate runoff. he predicts more than 80 votes in the full senate, which will give her strong standing when it comes to pushing for a stimulus package in the first quarter of next year. he also predicts a yell and pick means there will be a higher chance the fed will restart emergency load facilities in late january to get low cost credit into the economy, and thinks there will be more support for the housing sector. rishaad: also, we had a public holiday yesterday, so there is a bit of catch-up, 2.5% i believe after the lumpy -- after the lunch break. is that more room to run in 2021 for the nikkei and topics? sophie: a bac

national australia bank's full-year profits slumped as the coronavirus induced resumption rounded outll 37% to $3.7 billion australian. haidi: we will be watching the banks in singapore when the index opens at the top of the hour because earlier, we had dbs and ocbc reporting earnings beats. bloomberg intelligence covers lenders in a pack and she joins let's start off with dbs. what are your thoughts when it comes to the quality of these earnings? >> good morning. it was broadly in line with what we expected and it puts the bank on track for a 2021 recovery area with provisions have died down a little bit. lack of travel and tourism may keep pressure on the business but overall, a very healthy beat. the key thing to look for now is the margin guidance. already at 2.5 of the 3 billion to 5 billion guidance for this year and next so i think is very healthy set of numbers. shery: and how do the numbers compare with the other two? ocbc's income was at a record high and ample treasury income. they have reported very encouraging numbers. wasbiggest to go yesterday the expectation that margi

with the ceo of online retailer overstock next was the pandemic is putting a strain on the nation's food banks tried to fill in the gaps for people who are struggling during covid-19. >> reporter: bridges filled with leftovers after holiday season but more americans struggle getting enough food on the table sending them to food pantries instead. newcomers who never needed help getting in line for the first time. >> very hard and we need to be concerned with what we have and be grateful for what we have. >> reporter: according to the us census bureau one in 8 americans did not have enough food this past week, lines at food bank stretching for miles with people waiting for hours. >> people who lost their job and never expected to be unemployed. folks who are very sick with the virus and unable to work again. >> reporter: americans look to make it through the holidays, there could be relief around the corner with the likelihood of the vaccine, many agreed to thousand 20 has been a year of much. >> people are isolated and in need of care. >> reporter: hundreds of thousands of people applied for un

thansued more ppp loans one of the largest banks in the nation did. you can see how that could negatively affect this bank that stepped up and took on a lot because they are a community bank and their community was riding on the need of having the ppp loans. my final question is chairman mcwilliams, do you anticipate issue additional relief as well? >> yes. we are now working with the other regulators to make sure to the extent that we don't have the authority to change thresholds, to maybe freeze the total assets as of fire date for that threshold. we are trying to be as flexible as possible to make sure the a way to proceed with helping stimulate the economy and making sure borrowers can stay in their homes. a collaborative effort between the private industry and government as well. we need to make sure that we are covering them as well. is all the, that questions i have. it is unusual for medial back remaining time. mi audible and visible? thank you, madam chair and to our witnesses. regarding central bank digital quarrels,, vice chair you spoke abo

the pandemic is putting a strain on the nation's food bank as they try to fill in the gaps for peopleho are struggling during covid-19. correspondent alex hogan takes a look tonight from new york. >> fridges filled with leftovers after a holiday feast but this thanksgiving more americans struggled to get enough food on the table sending them to food pantries instead. newcomers who never needed help getting in line for the first time. >> it has been very, very hard, very hard. we need to be concerned with what we have and be grateful for what we have god. >> according to the u.s. census bureau one in eight americans did not have enough food this past week and parts of the country lined the food banks stretching for miles people waiting for hours. >> they are your next-door neighbor. people who have lost their job and never expected to be unemployed. they have been sick with a virus and unable to work again. >> while americans look to make it through the holidays, there could be relief around the corner with likelihood of a vaccine in the stock market with record high territory. many ag

and he also announced a new levelling up fund and national infrastructure bank to finance local projectse announcements and analysis from our expert correspondents. 0urfirst report is from our political correspondent jonathan blake. how bad is it looking, chancellor? he knew, and would soon tell us how bad the country's finances were, how big the bill for the pandemic had become, and how much ministers might get to spend. before the big numbers, and big promises, a reality check on what state the economy is in. chancellor. mr speaker, today's spending review delivers on the priorities of the british people. 0ur health emergency is not yet over. and our economic emergency has only just over. and our economic emergency has onlyjust begun. rishi sunak had warned of an economic shock from coronavirus, and said that the government's moves to help absorb it had come at a hefty price. we are prioritising jobs, businesses and public services. the furlough scheme, support for the self—employed, loans, grants, tax cuts and deferrals, as well as extra funding for schools, councils, the nhs, chariti

relatively unprotected from the coronavirus have kept food on the shelves for months and in our nation's food banksore critical this year than ever before. and the labor union asked people to two their favorite thefg dish and how it got to their table. it's interesting to listen to these workers and the stories and the work they do. amadeo shared this video showed how he and his co-workers harvest beets like the ones you might eat on thanksgiving. here's patricia bunching radishes together. she owns a dollar 86 per kratd. each crate contained 60 bundles. brufl sprouts go on a thick woody stem so they have to chop down the sprout plants. other workers need to put the stalks in the processors that separate the individual trouts. if you enjoy tur nips, they take a lot of skill. this is charlie. he earned about 75 cents per bucket of cut turnips as the fastest worker in his crew and you can see it there. he clears about $25 an hour. do you enjoy onions in your thanksgiving meal? this is indiana. that's a state that doesn't have heat or shade requirements. it's a 12 hour a day job. a ton more of these v

unprotected from the coronavirus have kept food on grocery store shelves for months and in our nation's food banks, which are more critical this year than just about ever before. to help recognize those workers, the labor union asked people to tweet their favorite thanksgiving dish and find out how it got to their table. and it is really worth taking a look at these workers and their stories and the work they do. like amadeo, showing how he and his coworkers harvest beets like the ones your family might roast or put in potato salad. or if your salad has radishes instead, here is patricia pulling up and bunching radishes together. look at that. she earns $1.86 per crate. each crate contains 60 bundles of radishes. the brussels sprouts. because brussels sprouts grow on a tough woody stem, workers need strength and precision to avoid serious injury as they chop down the sprout plants. other workers need to put the stalks into processors that separate out the individual sprouts. if you enjoy turnups, they also take a lot of skill to harvest without shopping up a finger. this is charlely. he earns abou