joining us to break down his call, rbc capital markets nick modi. do you put this in those categories, nick? >> well, you know, the point we were trying to make is this happens quite a bit. i could have probably given a lot more examples, but the reality is when you look at the valuations of these stock, the staple sector typically trades at a 10% to 12% premium to the overall market. today they're trading at a 3% discount. granted, we've been cautious on the space mainly because of macros, putting pressure on volume recovery, putting pressure on pricing and promotional activity. but at some point as stock analysts we have to say, enough is enough. we think we've kind of reached the bottom. and when you really think about some of the real world application of what's going on with consumers and these drugs, i think the market is pricing in something that's a lot more onerous. our tech analyst did a great piece yesterday talking about how the real world interaction with these drugs is less than what we saw in the clinical studies. i think where a lot

janet mui, head of market analysis, rbc brewin dolphin. as we mentioned, the imf economic report is out and we will make sure update you here on bbc news on that. to ireland now, where the country will present its budget for 202a. on paper ireland is a eurozone success story. 15 years after the housing bubble collapse, which risked the country going bust, it has bounced back by redeveloping itself as europe's main tech hub. the corporate tax revenue brought in by companies such as alphabet and meta means ireland is set to have a budget surplus exceeding 10 billion euros. next year's windfall is predicted to be even larger. but what should the country do

the new document, as noted by rbc, was a response to the fact that visas for russians have become moreussians, after which the cost of visas increased from 35 to 80 euros. as associate professor gemo nikolai topornin notes. the flow from the eu to russia has decreased significantly, mainly to russia, from where our compatriots come who, for various reasons, do not have russian citizenship. dima, that's all for me. thank you, marina pimenova, for business news. the serbian army is ready to enter kosovo if the supreme commander gives the order. this statement was made by defense minister milos vucevic. the head of the department responded to the recent shootout in the north of the unrecognized republic. it happened on september 24, several serbs were killed. official belgrade blames the kosovo police for the incident. in serbia, mourning was even declared on this occasion, and other tragedies were recalled, the victims of which became peaceful citizens. one of the most terrible pages in the history of the serbian people, this massacre in the village of stary brod, during the second world

lori calvasina of rbc capital markets joins us next. this is bloomberg. ♪ ♪ explore endless design possibilities. ♪ to find your personal style. endless hardie® siding colors. textures and styles. guy: a lot of this is whipsaw. >> we've been watching these rise in yields. >> we are going into a more volatile world. >> we have lost all anchors to the bond market, all of them. >> it has really been the volatility the last three months. >> the economic anchor, we have lost the technical anchor and we have lost the policy anchor. >> the long rise in the yield was doing the fed's job. >> the fed is done raising interest rate because they realize the bond market has been doing the heavy lifting. >> what level of rates in financial condition do we need here? >> the bond market is looking ahead, figuring out that the fed indeed is getting it right. >> the economy does not weaken, then the path of least resistance for yields is higher. alix: those are some of the guests earlier weighing in on the volatility in the bond market. let's get to the q

rbc out with a significant upgrade of ubs. signal coming from rbc, it has greater visibility, greater understanding of the potential value creation we will see from the combination of ubs and credit suisse. we have seen that stock go out with a 30 price target. 22.47 is where we are trading today. quick look at some of the 52-week highs. we have talked about some of these names. shell. polish assets in the insurance and banking sectors. the close is coming up next. more details to follow. this is bloomberg. ♪ guy: european equities are higher and green out there but you see the steno story is the polish market. certainly the market is pricing in a rosier outlook into financial stocks, into the insurance sector, more broadly the market, so an area of significant bright green in eastern europe. elsewhere, a more muted story. we are seeing all stocks having a good day and retail having a good day as well, but there is a lot of different forces coming into work this week. we still don't understand what impact they will have to get

joining me now is janet mui — head of market analysis at rbc brewin dolphin this came through in thely hours, a release for forward, not signed and sealed but it would seem tough negotiations have ended in an agreement. good morning. thank you for having me. this is good for the workers, this deal, because it is a 25% wage increase for workers, a reference point for the other car companies that are still striking and i think there is a lot of pressure to negotiate with workers and come up negotiate with workers and come up with a deal because the financial cost to the company to simply huge. we originally had the third quarter results from general motors and they say the strikes so far have cost $800 million, a big hit in their profitability and the overall estimate for the strikes so far is nearly $2 billion. it is costing. absolutely, they had to try to come to some agreement quickly. as you say, it was costing these car—makers huge sums of money. also installing production, impacting supply of new cars, at a time when the us economy is really trying to get back on track.— back on

as you may recall, the rbc discussed arizona's plan at the june meeting in minneapolis, the committee decided to defer a final review of the plan following questions about the composition of the state committee electing plio and at large delegates. based on rbc discussion, considered bylaws amendments to create state convention to elect delegates and dnc members. on september 9th, 2023 88% of the committee voted in favor of the amendment. state party has updated arizona plan to provide state convention to select plio and at large delegates on saturday may 18th, 2024. arizona has requested a waiver from rule 15d because the state's presidential filing deadline is 100 days before the primary which is more than the 90-day limit allowed by 15d. staff recommend that arizona's stand in compliance along with waiver. >> thank you, jenna. >> i will recognize louis, member from arizona who can speak to arizona's plan. >> mr. chair, luis from arizona, we took a vote this saturday to adopt the bylaws amendment and create state convention composed of roughly, we will meet the definition of gender

that's according to a new note from rbc wealth management's technical team. rising rates is a rising dollar. while many analysts have been siting 4200 as a support level, rbc says any break below 4,000 is a signal this year's cycle rebound is failing. for more let's bring in the chief investment officer at capital management. >> a lot of people have been saying it's really 4,000. do you agree or disagree? and what happens if we go past 4,000 in your mind? >> you're breaking the long-term trend, and that would really coincide with a continued reduction of liquidity. liquidity is critical. that's why everybody is keying in on the 10-year treasury yield. conditions are far more restricted today than they have been in a long time. >> so we're going to be talking a lot about the yields and volatility. we have a rising dollar there. are there certain sectors you're staying away from? some you don't see as higher rates? >> anything with a lot of leverage where you have a debt stack that's going ton repriced because a company has maturities, they have to go to the ma

let's bring in janet moi head of rbc. >> good morning, frank. >> the consensus on wall street is there is not a rate hike in the next meeting when the fed meets in 16 days. do aweyou agree with the assessment? >> i think there is a high chance the fed will not move because from the recent stage, they are concerned about the rise in yields right now and also inflation is moving in the right direction. i think it is worth being patient. of course, we cannot rule out of the potential of the rate hike. so far, they have guided the market. we have to wait and see. we are close to the end of the rate hiking cycle in the u.s. and other major central banks. >> you think we are close to the end of the rate hiking cycle. you are looking at the inflation reports in the u.s. cpi and ppi pointing higher. that is having you invest in treasury and inflation treasuries. why is that more attractive? >> because of the recent sharp move in yields. we added that to the government bonds and global inflation bonds. the yields have risen to the highest level since the financial crisis. we think it is attract

jonathan: gerard cassidy of rbc capital markets.urn back to the communication and language id jp morgan people exist -- and language by the j.p. morgan chief executive jamie dimon. do you think israel has far-reaching effects on banks? sonali: absolutely. if you are jp morgan, you are thinking about risks you cannot control. let's talk about it from a training perspective. these banks make money and jp morgan wants to be the intermediary for that. we have been talking about risk and the idea banks want to put up capital to mediate markets. at what point does this become conflicted and risks banks ceasing under pressure from political -- from geopolitical concerns. right now, they are making money. one more thing about the consumer is with jp morgan, average loans are up 17%. that is better than they were last quarter. the are still lending into what they think is a very terrifying environment was in the u.s. and global economies. jp -- jonathan: j.p. morgan down . citigroup still to come. amh, the language might be the most dangerou

joining me now is janet moy, head of market analysis at rbc brewin dolphin.ooking good, and the whole market is watching closely. good afternoon. thanks for having me. yes, the property developers in china are still pretty much in stress and struggling and i think a clear point is that the chinese government is not coming to the rescue of any individual property developers, so as we remember, the chinese government has put in a number of different measures for the sector, but it actually fell —— failed to assimilate substantially, for example in the recent golden week holiday and new hotels were down i7% compared to a year ago, so as a result there are not enough sales to generate the cash flow for these property developers to pay off their interest or debt, so that is why the market is pretty much expecting country garden to go into default because you can see their dollar bonds are trading at 5% of the dollar meaning they are not expecting to recover much. i5 the dollar meaning they are not expecting to recover much. is there a way out? — expecting to recov

janet mui is head of market analysis at rbc brewin dolphin. thank you for being with us.g, coming at a time it seems the relationship is getting even worse. what can it achieve? thank ou for worse. what can it achieve? thank you for having _ worse. what can it achieve? thank you for having me. _ worse. what can it achieve? thank you for having me. tension - worse. what can it achieve? thank you for having me. tension is - worse. what can it achieve? thank| you for having me. tension is really intense. it is a difficult issue to resolve. it is a rivalry between the two biggest economic power on technology and geopolitical influence. the tension is focus on technology, it has the potential to make or break a country's technological dominance in the world. these are critical issues, and so far stands from china is retaliation. there has been a restriction critical minerals. the situation is not easy to resolve. who is winning this trade war question i think it is difficult situation for china because the us is restricting these high—tech ai chips. is restricting these high-t

jon: i want to bring in claire from rbc who has been tracking the bank of canada story.ee you. is it a surprise to you at this point when a lot of economists seem to think the bank of canada was at the end to commit to the idea of more rate hikes ahead? claire: as you mentioned, the decision itself today really did not come as a surprise to us as well as what was priced in to the market. the bank decided to hold its interest rate at 5% but decided to balance the decision with a hawkish sounding statement today. some of the things mentioned include actually increased inflationary risks in the economy. that is, again, kind of, given what we have seen over the last year, pretty sticky inflation pressures in canada, though, that was kind of broken by a good upside surprise in the september cpi print. overall i think it was a really balanced decision-making between the bank of canada's -- canada opting to hold the overnight rate at 5% and the hawkish statement leaving the door open obviously for more rate hikes if they were needed. jon: as we await the next federal reserve in

rbc writes about this.ccording to him, the bcs broker began offering clients to buy telegram bonds on the secondary market with subsequent conversion into shares. and this can only be done in case of public offering. but even if the company does not go public. investors are promised to repay the bonds in 2026. and europe, despite sanctions, continues to purchase raw materials from russia from march last year to july of this year, imported goods worth 13.5 billion euros. the publication tagas shpigen writes about this. we are talking about the supply of nickel, titanium and other products for the production of electronics, solar panels, electric vehicles and aircraft. the publication notes that brussels is not resorting to a complete refusal of trade due to the risk of sharp growth. prices for raw materials. this was economic news, in short. the winners choose high-quality fuel for their cars. pulsar effectively cleans the engine. fill up with pulsar rosneft fuel, take part in the draw and don’t miss out cha

10% of the global card payment market, as stated in the neilson report based on last year’s results, rbcludes seven of our credit institutions. sber, vtb, gazprom bank and others. the total number of transactions processed by them is almost 48 billion. the largest russian bank is evay sber. in the top 150, it took third place, behind the american fsf and jp morgan chase. in 9 months, solers increased revenue by more than 6 and a half times in annual terms, according to russian accounting standards ; the automaker received almost 213 million rubles. as a result. net loss decreased by 2 q2 ra, to almost 200 million rubles. that 's all i have for now, more news in the next hour, go to qingto in burger, oh, easy to do. in the branch and online, pay less, anniversary cookies 5990, pyaterochka helps out, this is the ecology of the city, this is a contribution to the health of our children, this is clean air, they are talking about switching transport to methane, about protecting nature, but it’s not just that, methane cheaper, savings on every kilometer, the methane engine works great, benefic

rbc writes about this with reference to spark data.directly owns a share of more than 14.5%. the package is valued at almost 16 billion rubles. yaatek is the largest gas production company in yakutia, accounting for 86% of production in the region. and the national oil company of abu dhabi made an investment decision to develop fields with the participation of lukoil. a total of two contracts were concluded. for engineering work, equipment supply and construction. in the future, they plan to produce over 40 million cubic meters of gas and 120,000 barrels of oil per day. lukoil owns a 5% share in the concession. he purchased it in 2019 for $214 million. it was economic news, briefly. joe biden promised the eu long-term support for ukraine. this was stated by the head of the european council, charles michel , upon arrival at the meeting. from the heads of state and government of the european political community. we will learn more about the agenda of the meeting and its participants from our european correspondent, regina sevastyanova, s

rbc sent a request to 85 regions , received a response from 40, the shortage of mathematics teachersmost acute, they were missing in thirty regions out of 40. in second place russian teachers, in the ministry of education and science of the chelyabinsk region, explained that these teachers are in greatest demand, because these are compulsory subjects for the unified state exam. in third place in terms of shortage are teachers of english and other foreign languages, and teachers of literature and physics are also in the top five. the ministry of education and science of dagestan believes that the reason is low salaries. according to rosstat, for the first six months of twenty- three, the average salary of a teacher in russia was 63,000 rubles. at the same time, in moscow it is 134,000, in in dagestan 36,000, in the penza region 34,000, in mordovia 33. in koracay in circassia the lowest is 21,000 rubles. ilya is all about economics. thank you, denis talalaev with his economic review. the ukrainian authorities are preparing a provocation with us money. cases of bird flu may be detected

as rbc writes, according to estimates from the company infoline analytics, this could be about 10 billiony note that this is much smaller than magnit. could spend it creating your own marketplace with zero. the russian stock market has been going down since the morning along with world oil prices. the opec has not yet responded to iran's calls to impose an embargo on oil supplies to israel. in addition, venezuelan president nicolas maduro finally signed an agreement with the opposition, which is expected to make the country's presidential elections next year more transparent. in response to this, the us treasury has already announced that it is lifting some sanctions from the venezuelan oil and gas industry. the ruble is waiting for some more obvious signals while it stands still: the dollar is now 97.36, the euro is 102.62. the american airline united airlines seems to have figured out how to quickly seat passengers on a plane. in a week from october 26, the following scheme will be launched: first , those economy class passengers with window seats will be invited, followed by those sitt

rbc writes about this.ffering clients to buy telegram bonds on the secondary market with subsequent conversion into shares. and this can only be done in case of public offering. but even if the company does not go public, investors should be promised. repay bonds in 2026, while the number of cases of artificial acceleration of stock prices has sharply increased on the moscow exchange, the platform reported this today, in the third quarter alone more than 60 episodes were recorded, for comparison there were only 13 for the entire last year. first third-tier shares, some investors view them as a way to make quick money, they pay attention to messages on social networks, where there are calls for this was the economics news in a nutshell. russia is a country of great achievements. right now we are making a discovery in science, our children are throwing open the doors of modern classrooms. we create new cultural spaces. and of course, we are opening new routes and points of attraction. discover the achievement

support measures will depend on its results. about rbc writes this with reference to data from the ministrytal development. the company itself is counting on additional capitalization of 117 billion rubles and debt refinancing. at the end of the year, this is 153.5 billion. also, the russian post wants to close some unprofitable branches. and the international monetary fund has estimated the loss of the global economy since the beginning of the pandemic at $3.700 billion. this was stated by the head of the imf kristalina georgieva. according to her, the only major state that managed to return to pre-pandemic levels of steel production is the united states. georgieva noted, now the main problem has become economic fragmentation. this was economic news, in short. keep prices low zernica cookies 39,999 pyaterochka helps out 24 months installment plan with halva, buy any goods from partners or pay off your debts on credit cards, installment plan for 24 months of purchases and refinancing credit cards in installments with halva, give me the following, oh, and the internet is over, i have endless

head of the analytical center house of the russian federation, mikhail golberg, stated this on air at rbcin the entire last year. at the same time, the share of investment transactions in the real estate market is small. people buy housing for themselves. domr analysts do not see an obvious bubble. opik-plus will not change the parameters of the agreement next year; their revision will mean a new deal. this was stated by the head of the ministry of energy of the united arab emirates. suheil al mazrouei. he explained that members the organizations have already reached an agreement for the entire twenty-fourth. today it became known that opec expects global oil demand to grow this next year. the main increase in consumption will occur in osr countries, asia and the middle east. it was economic news, briefly. now an emergency warning has been issued about the weather in kuban about showers and increased winds. at the same time, rescuers warn about maintaining an emergency. dangers in crimea, the heating season begins in the regions of central russia. more about this let's talk with the prese

will monitor this situation, colleagues, please, next question, rita, second row , margarita mardoevna rbcmandatory repatriation of the sale of foreign currency earnings has already been mentioned here, but it is clear that the information is not complete yet, and on this initiative, but maybe you already... have some kind of assessment of the potential foreign currency inflow to domestic market due to compliance with the requirements of this decree, the second question concerns the 1,000 ruble bill, which was stopped from being issued an updated version. this bill, is it planned to change its design and what can be depicted on the updated bill? well, as i answered the previous question, i already said that isolating the effect of this particular measure is quite difficult, problematic, but - currency sales by exporters, even operational data show they are growing, but at this moment there are lags in the receipt of the export price and the price of export goods , plus to revenue, that is, the growth in the strengthening of the trade balance in previous years also affects this, so i think

purpose of such a call and where it comes from, for example, from a courier or from a car dealership, rbcied for all operators; business customers who interested in restoring trust in phone calls on behalf of companies and brands. pharmacy chain 36.6 closed a deal worth rub 8 billion. the company bought out 170 pharmacies in st. petersburg and the leningrad region, kommersant reports. thus, the network became one of the three largest in the region. 36.6 is one of the leaders in the russian pharmaceutical market. in the first half of the year , it took eighth place in the dsm group ranking with a turnover of 34 billion rubles. and argentina will join the brix bank, the country has submitted an official application - the press service reported president alberto fernandez. if argentina is approved for membership, it will have access to bank funds for infrastructure. projects, let me remind you that following the brix summit in johannesburg, the president of south africa announced the expansion of the association; six more countries, including argentina, will join the group on january 1. it w

listing on the stock exchange is planned for second or third quarter, rbc writes about this.legram bonds on the secondary market with subsequent conversion into shares. and this can only be done with

joining me now is janet mui — head of market analysis at rbc brewin dolphin this came through in the

card payments market came from russian banks, as stated in the nilsson report at the end of the year, rbc reports. the list includes seven credit institutions from russia. vtb, russian standard, gazprom bank and others. the total number of transactions they processed is almost 48 billion the largest russian bank evaer Сbir. in the top 150, he took third place, behind american fis and gp morgan chase. megafon's net profit increased by 60%. in 9 months, the company earned more than 36 billion rubles. this is data from her report according to russian standards. revenue increased 8% and exceeded. 257 billion. earlier it became known that fas opened a case against the megaphone, the reason was an unreasonable increase in tariffs. since the beginning of the year they have grown by 10% for 8 million subscribers. and the eu plans to keep in force the price correction mechanism for gas - writes the financial times. it begins to act when two conditions are met simultaneously. the price for habif should exceed 180 euros per megawatt-hour within 3 days and be 35 euros higher than the average cost of

chief analyst sofcombank mikhail vasiliev in an interview with rbc did not rule out that the ruble wouldbe hit by the fact that from september 21 the authorities banned the export of gasoline and diesel from russia. this measure further reduces the amount of currency that comes into the country. sber investments analysts indicate that the ruble exchange rate is now being put under pressure by capital outflows, and more specifically, companies are hoarding foreign currency to buy assets from foreigners who are leaving russia, but according to sber investments analysts, by the end of the year the dollar will still go back to around 90, the ruble should help the sharpest increase in the key rate is in august, but the effect of such a measure usually reaches the exchange rates approximately a few months after deposit rates increase and the russian stock market is going down today, analysts at promsvyaz bank note: yes, before the fall of the ruble forced shares to rise exporters, but now investors may be wary that the central bank may take some drastic steps now that the dollar has reached th

according to the central bank, the volume of cash in circulation decreased by almost 22 billion rubles, rbcd began in the summer; in august, the central bank sharply raised the key rate from 8.5 to 12%. and in september i brought it to 13%. in response to this, banks began to raise deposit rates. agency analyst. money in the bank in september was expected, but there is no talk of dramatic changes in the behavior of russians. according to yuri belikovov, with the current inflation and macroeconomic instability, it is difficult for citizens to plan expenses, and therefore the motivation to save is greatly reduced. managing director of gazprom bank private banking egor sussin, assessing the situation, says that now people, if they didn’t take money into the bank, then at least stopped taking it out. ilya, everything about economics, thank you. lalaev with an economic review, from the usa, sensational news came this night, chamber representatives for the first time in history dismissed its speaker. kevin mccarthy, the conservative wing of the republicans, accused kevin mccarthy of betraying the

this was announced by the minister of digital transformation mykhailo fedorov in an interview with the rbcaine agency. according to him, the initiative plans to start in a month or two. initially, it will be aimed at drone operators, after the launch of the innovation , you can see how many ukrainians will mobilize on their own, how they were selected, how they serve, and how motivated they are to defend ukraine, the minister added. and detectives of the bureau of economic security in the poltava region exposed residents of the kremenchutsi district, they established production and sales counterfeit cigarettes, with the help of special equipment, the shopkeepers crushed leaf tobacco, added flavorings to it, sold the finished product in stalls and markets in kremenchuk, mostly blanks, during the search, the law enforcement officers seized property worth almost 15 million hryvnias, well, it is clear that from this goods, taxes did not go to the budget, vasyl, these stories appear from time to time and quite often, look at the tobacco, i don't know who will smoke it, god forbid, i will conclu

its authenticity was confirmed by rbc in the association of bond owners.states that messenger plans to place shares on the exchange in the second or third quarter of 2020. back in the spring of the twenty -first, the vedomosti newspaper wrote that telegram had begun preparations for an ipo; the probable date was then called the twenty-third year. it was reported that the value of messenger could be estimated at between $30 and $50 billion. in august the three largest mobile operators told the vedomosti newspaper that telegram for the first time entered the top three instant messengers with the largest volume of traffic in russia, behind only vk and youtube. telegram has, according to its own calculations. 700 million active users in the world, this is 40% more than in the twenty-first year. it is obvious that messenger is going to monetize this success with help and attract investor money for business development. russian exporters, who are preparing to pay taxes and change their currency to rubles, continue strengthen the ruble. this morning the dollar ha

rbc provides estimates from the audit and consulting network, finkspertiza, based on federal tax servicere-covid, there are almost 2.5 times more luxury cars, tax charges on luxury cars increased by 31%. the average amount for one car is 169 rubles. the increased tax on premium cars has existed since the fourteenth year, before these were cars more expensive than 3 million rubles, but in the twenty-second year the lower the bar was raised to 10 million. experts note that in terms of the number of luxury cars, moscow is the absolute leader, where more than 40% of the country's premium car fleet is registered, for example, in the jewish autonomous region and in chukotka... for one such car in the agency, national credit ratings say that russians buy expensive cars to park their depreciating savings. against the backdrop of the attack by hamas militants on israel , world oil prices have risen sharply, wti marks are now rising in price by 2.5-3 dollars. bye this is just an emotional reaction of the market, because there is no immediate threat to global oil production. as the american ministr

fascinating to see with that level of analysis what we can determine or not from the pictures there for the rbc i want to play people a clip of president biden speaking today. the big question is what happens next. where does this leave anything? particularly when it comes to a regional conflict. there was a warning from president biden today. was a warning from president biden toda . �* , , ., , was a warning from president biden toda. , ., was a warning from president biden toda. , today. let's show viewers that clip. israel is stronger _ today. let's show viewers that clip. israel is stronger than _ today. let's show viewers that clip. israel is stronger than ever. - today. let's show viewers that clip. israel is stronger than ever. my - israel is stronger than ever. my message to any state or any hostile actor, thinking about israel remains the same as it was a week ago, don't. don't, don't.— the same as it was a week ago, don't. don't, don't. president biden re don't. don't, don't. president biden pretty clear— don't. don't, don't. president biden pretty clear there, _ don't. don't, don't.

i'm joined by benjamin toms, uk banking analyst for rbc capital markets.you with us. $7.7 billion but it still didn't meet expectations. just explain why. thank you for having me. first thing this morning the main message that we got from the bank was really around a cost downgrade. costs this year were expected to grow by 4% year were expected to grow by 4% year on year. now the company is expecting those costs to grow by 6% was not the first use was a downgrade. it wasn't until later than the day, around a net interest income element, we were given some assurances where consensus was sitting for the year end was actually 0k in the guidance the bank has is actually now no longer really relevant. we has is actually now no longer really relevant. ~ ~ ., ., , relevant. we know that whilst headquartered _ relevant. we know that whilst headquartered in _ relevant. we know that whilst headquartered in london, - relevant. we know that whilst l headquartered in london, hsbc relevant. we know that whilst - headquartered in london, hsbc makes most of its money in a

rbc got acquainted with the letter from the association of banks of russia to the ministry of digitalate duma committee on information policy. such a bill was introduced into the state duma in august. according to it, the ministry of defense, fsb, fso and other security forces can obtain rights to remote access to various information systems and customer databases in order to delete or edit information about intelligence officers who are clients of these same banks. however, the associations, which include, for example, sberbank, vtb, alfabank, tenkov, say that the documents. gives rise to numerous legal conflicts. in addition, providing unlimited access to personal data may violate the constitutional rights of russians, while banks, as noted, will have to provide such access without the consent of clients. banks also indicate that after deleting or editing data about intelligence officers, there is a risk of improper identification of the client, and also it will be impossible to comply with the requirements of anti-money laundering legislation. as the lawyers interviewed note, such

this is something rbc put out, they are making it clear that basically you have the everything exports that could be in the crosshairs for u.s. sanctions. 700,000 barrels per day. thyssenkrupp reporting on the ground. the response was we are not going to look into the politics and they think that accounts for about two to 4% of that move is basically an opec plus unity that has serious ramifications. westwood about the broader geopolitical take? this is the other component. we can get our head around the tragedy of the last few hours. that is saudi arabia is that in. i am looking here at a direct quote. they stood out from the rest. the can, because its repeated warnings on the danger of the explosion as a result of the continued occupation. the deprivation of the palestinian people and the repetition of systematic provocation. against this entities. the reasons this is important is because we have this idea that it is really palestinian conflict that would go away if the u.s. saudi arabians signed a security pact. the events over the weekend jody was not true. this has been pushed far

andryushchenko makes a post at 9:50, without referring to anyone, on his own to myself, half an hour later 10:27 rbcould take... that’s not how it works, that is, the news was prepared robka himself, ukraine, andryushchenko was chosen as the seeding point, andryuchenko, today we are writing about mariupol, you are a specialist in mathematics in mariupol, here is the text for you, i think he’s not even andryuchenko, take my username and password, i’m already tired, write yourself, what difference does it make to me, well, in general, this is how the sowing of fake news happens, and then ... it spreads in reposts, we will now, by the way, discuss all this with the main person for medicine in the donetsk people's republic, he is the minister of health with us. donetsk people's republic, dmitry anatolyevich gartsev, we are glad to welcome you, i greet you, for sure, like all of us, you read andryushchenko with regret, you certainly have something to answer in fact to all of his fictitious statements, well, of course, he made it up, because in our country there are 13 medical organizations in mariupol, w

what morgan stanley and rbc are saying about the months ahead. >>> investors attention turns to the fedal bank kicking off the policy meeting how you should position your portfolio ahead of tomorrow's decision >>> and the fed is not only game in town. what the bank of japan did which could push yields to new highs it is tuesday, october 31st, halloween halloween, and aryou r watching "worldwide exchange" here on cnbc. >>> welcome back i'm frank holland. let's start your day with the half hour check on the u.s. stock futures on this final trading day of october futures are mixed right now. the dow off the highs and opening up 70 points higher. important to note that the nasdaq turning negative in the last half hour stocks coming off the best day in months. that is doing little to avoid three straight months of losses. you are seeing the declines in october here keeping the bear sentiment alive this morning we have a noteto clients f absent rate cuts from central banks, we see restrictive monetary policy still ahead. and his comments echoed by mike wilson he said the chances of the fourth

rbc says the positioning sets upmost favorably with the mega caps for amazon.the closest to its all-time high, which was set back in november of 2021, about $148.68, give or take. the stock is ten points away. it's really done nothing. it's been biding its time. it's almost two full years. but if you look at the earnings growth, it's better than apple and some of the stocks that have made new highs subsequent to then. so i think this is the one that i feel best about. jpmorgan points out that amazon is their number one internet pick going into this new earnings report. what amazon has in its s favor they have drastically cut back on costs. that's going to show up in free cash flow that might be an upside surprise to the street. so i agree with both of those ideas technically and fundamentally. i want to be in alphabet and amazon, more so than the other f.a.n.g.s going into next week. >> wll g t cmie'etheomttee's take, next. design possibilities. to find your personal style. endless hardie® siding colors. textures and styles. it's possible. with james hardie™. ♪

tom: on the canadian business there has been pushback from the opposition party in canada around rbcaking over the canadian business. what gives you the confidence, you have reiterated you think the deal does get done. what gives you the confidence that indeed does come to pass? >> we have good dialogue with the canadian authorities and regulators. we continue to work on that basis. tom: i want to talk about the china part. half a billion u.s. dollars in terms of provision charges on losses. how do you see the commercial real estate story in china evolving? is it fair to say further charges of that scope are going to be coming through on the quarters ahead? noel: we signaled last year we had a plausible downside scenario, the potential for an extra billion dollars of ecl's on our china real estate exposure. if you look at q3, we have booked around $800 million of the $1 billion possible downside. there's a potential for a top up to that. but i think we are relatively comfortable with where we sit at the moment on our provisions. by the end of this year we will have been will provided

that rbc changed with all of the attacks, so the war cabinet and the government is just a government that is focused on more. they are suspending all other bills, all business will be focused just on executing whatever comes next in this conflict and it really is significant that the opposition has been brought in here, because until then, i was there six months ago and sometimes you had over 100,000 people protesting the netanyahu government, mainly in tel aviv, but this divide that has clearly evaporated since saturday. kriti: thank if your analysis and for giving us the geopolitical context as well. crucial developments, we will bring every single update as we get it and a truly tragic humanitarian situation over in israel. geopolitical risk is just one part of the story when it comes to the markets. you also have inflationary worries that still exist. more fed speak will factor into the market narrative. take a listen to what some more of the governors had to say. >> the nominal side is going in the direction we want. we are in this position where we will see what happens on raid

let's talk about the week ahead and the trades within the trade with amy wu silverman at rbc capital talked about everything going on out there with that in mind, what is your wex word of the day? >> my wex word of the day is heavyweight. heavyweight as it refers to the mega cap tech stocks that could work with heavyweight apple reporting this week. >> you are talking heavyweights. you have the growing influence of the magnificent seven and mega cap tech on markets overall. the s&p a year ago, the mega cap names with a 20% rating in it the s&p. now it is 27%. what does that mean for investors? >> it is more contribution to return if you look at how the s&p has done year to date, 90% of the contribution return has come from the magnificent seven if you drill down to the sector level, i gave you the communication sector as well went from the weight of 30% to 40%. huge weights in the tech stocks. what makes me nervous is the sentiment change has really gone from positive and optimistic folks buying call options. a lot of waning interest in the upside and continued demand for the downsid

gerard cassidy of rbc capital markets. chairman and ceo brian moynihan will join david westin today at 2:15 new york time. stay tuned for that. coming up, congressman jim jordan appears to be edging closer to have the numbers to secure the house speaker ship. we will take you live to washington for the latest next. this is bloomberg. ♪ what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh explore endless design possibilities. to find your personal style. endless hardie® siding colors. textures and styles. it's possible. with james hardie™. alix: stocks rebounding at this point despite the fact that the front end yields are the highest we have seen since 2006. simone foxman is tracking the moves. simone: stocks throwing off some of their worries. some of the chips pointing higher. going back to considering whether or not the stronger consumer is good or bad for st

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rbc put out a note cautious on the sector. on the flip side, healthcare is down .40%.explains the weakness in the swiss index. media is down five points as well. >>> we are keeping a close eye on the energy space this week as the secretary-general of opec warns of the risks of un underinvestment in energy security. lucky for us, steve and dan join us from the conference with more. you have been busy this morning. talk about what is happening on the ground and the conversations taking place. >> we will tell youyou move of t is to come for viewers. i look at this meeting and it is a joy to be back with you, by the way. i have been coming here since 2009. amazing to watch the evolution of industry. it used to be an oil conference and then oil and gas companies and now energy companies as well. the question is how do they negotiate the transition? i look at this with the twin coverage with the cop-28 conference in november. how will this industry do and move on the transition as well? i find it amazing to get a gauge on what is happening with the oil and gas and energy com

here with us onset is global autos analyst for rbc. i know it is a busy time in your space right now. between everything going on with the big three and now tesla. what is your feeling going into the earnings this afternoon? >> obviously expectations are pretty bad, pretty low. they lowered the delivery number. a lot of that had to do with production cuts that happened and they did telegraph that. i do think that consensus numbers may be a little too hyatt -- high at 070.7. but i think that the number should be on the 4 q number and whether or not they can hit this 1.8 million number for the full year. >> it is a stretch goal, right? >> yeah, that would mean they hit 470,000 plus. i think a lot of -- >> have you ever hit 470 before? >> no, 460 was the clothes two quarters ago. >> so they need to hit the 470 number to justify the current price? >> just to hit the 1.8 million that they targeted for the year. but i actually think a lot of investors are missing the plot. i think they are focused too much on the car business. this is really

rbc got acquainted with the letter from the association of banks of russia to the ministry of digitaltate duma committee on information policy. the government introduced such a bill to the state duma back in august. using it, the ministry of defense, fsb, fso, foreign intelligence service and ministry of internal affairs can gain access to information systems and databases of banks. the purpose of the bill was explained in such a way that the security forces could edit or even delete information about intelligence officers who are clients of these banks. however, in association. they say that the new bill, firstly, contradicts the rules on combating money laundering; now banks are required to report on customer transactions upon request from monitoring, and it is not clear how to report if intelligence services can delete information about their employees without even reporting it bank, secondly, the banks say that all this could ultimately lead to a violation of the constitutional rights of russians, because the intelligence services can gain unlimited access to the personal data of

the transaction amount is not disclosed, but as rbc writes, according to infoline analitica estimatesles. they add this there. less than magnit could spend creating its own marketplace from scratch. russian stocks at this moment began to grow slightly after the morning fall, but the market still continues to monitor the oil market, and there is plenty of news there. opec has not yet responded to iran's calls to impose an embargo on oil supplies to israel. in addition, venezuelan president nicolas maduro signed an agreement with the opposition that is expected to make the country's presidential elections next year more transparent. in response to this, the american ministry of finance. has already announced that it is lifting some sanctions on the venezuelan oil and gas industry. analysts now they are talking about the fact that russian exporters are slowly starting to prepare for october tax payments, but... so far there is no hurry for the price to go up much, the dollar at these minutes is 97:12, the euro is 10267. the american airline united airlines seems to have figured out how t

rbc is warning of weakness, ad weakness in search and says youtube ads gotten a boost as people go searching on the margin impact of job cuts also on their radar. what about this name, lee? >> you know, i love youtube. i know those margins are fat. the problem is, it's 10, 11% of the revenues. if youtube was 25, 30% i would be all over this. but you have to believe with google -- by the way, for full disclosure i own a little bit, i owned for a while. this is all about ad growth. the ads on google are core ads not like meta and snaps there chat, get a lot of volatility in spend. so i think you have a decent ad environment going forward. i'm not convinced that chatgpt is going to eat all of core ads. the real thing if you want this stock to keep going higher, you have to have cloud become more profitable. it's a third rate cloud platform. we need to see it make money. >> same emphasis for microsoft and google really all about the the cloud for both of them. visa, shares up 12% year to date. good barometer for what's going on with the economy and the consumer. full year consensus revenue expec