rbs barclays all trading higher. anna: let's take a look at oil. guy: a big story for the scottish national party bp is trading up. bg group is up as well. anna: big night for the conservatives and big night for the scottish nationalist. it was a historic election for the snp. let's go live to glasgow bloomberg tom mckenzie is with us. very big labour names going in this election. tom: a historic night here, not just for the scottish national party, but for scotland it self. the snp has taken power away from labour. we are in the center of glasgow, an area that has always been a labour stronghold. the first leader of the labour party came from scotland. they are incredibly disheartened, they do not know where to start to rebuild the party from here. for the snp, they are on a level and they cannot wait to get into westminster. they have a certain number of demands they will be pushing through. they wanted to do some sort of deal with the labour party. the fact that they have taken those votes away from the labour , and the tories are back in power

as i say, that's different to rbs and barclays. rbs and barclays both putting aside more money for payment protection this week. lloyd's up 3%. the biggest conundrum is this. there is not going to be a huge amount of liquidity in the bond market. domestic german figures are going to be out. in london, late breakfast, short days. we are back up here. start of the week europe up 0.5%. you've got dropping prices, rising yields. in germany, all around europe you are seeing this reevaluation of risk, and still, the euro -- foreign exchange driven by interest rate differential. that is more or less the point. the euro rose by over 3% this week. you are seeing yields rise in europe. you are seeing the bond prices fall. up we go. 1.1245 is where we are on the euro-dollar trade. this is one of the strongest months that we've seen. we are straight into may. april was one of the strongest months we've seen in almost 4.5 years. they must be happy boys, because they made these big calls. we will see whether this momentum last. what were those ca

the banks involved sitting -- citigroup, barclays, rbs. erik: the fifth bank is ubs and we have heard from that bank this morning. we would get back to banks in a moment that let's talk about target because they reported earnings. julie hyman has the details. it looks like target had a good quarter. julie: it did. if you look at the earnings pressure, they reported $1.10 and $1.2. they have been emphasizing its children's and baby and wellness items. that strategy seems to work. there was also the lilly pulitzer collection during this quarter. brian cornell, the ceo, has been focused on areas of the store where they see more demand they are raising the lower end of the earnings forecast for the year two for 50 to 465, that is the range they are looking for. they have presumed buybacks. a target i've hundred $62 million their own stock in the first quarter in that their first back since 2013. erik: it looks like this is a margin story because target same-store sales came in line of 2.3% and revenue is in line with estimates. the bottom line

ubs, barclays, rbs. keri: will there be individual liability?illanybody go to jail -- anybody go to jail? there has to be individual prosecution. people have gone to jail over this. we fully expect this to happen. you have a handful of traders in small chat rooms called the cartel. they were brazenly manipulating the foreign exchange market. it is fascinating that this case ended up being a collusion case. individuals and the banks are guilty of collusion. erik: ubs, before this announcement, disclosed to the world what it was going to face of penalties. it said it was cooperating with authorities in their pursuit of individuals. keri: they were granted immunity. it is likely there are individuals cooperating. olivia: that immunity was revoked. how about the ceos? this happened on their watch. --d: erik: many of the ceos are gone. bob diamond is gone. jpmorgan seems to be immune to this. it had not had a guilty plea before this. they had the made off settlement in 2013, their giant civil mortgage back securities settlement for $13 billion, they

morgan chase, barclays, and rbs agreed to plead guilty to two edges of conspiring to manipulate the priceu.s. dollars and euros. alix: the cftc director of enforcement joins me now from washington. thank you for joining us. we appreciate it on this huge day for banks. what was the cftc's role. currency markets are not regulated. oelman: we have jurisdiction over any commodity in interesting commerce. we have taken a view, and i think it is supported under the law, that these benchmark ranks are commodities understate commerce. from about seven years ago, we started working on the libor investigation. since that point in time, we have brought and settled cases, 15 different cases, and collected over $4.6 billion. that includes the libor investigation, the foreign exchange benchmark many relation, and as of today, it also includes the manipulation of a less well-known is still widely used benchmark, which is also used for interest rates derivatives. scarlet: we discussed world enforcement. do you first see regulation because of this? there have been a lot of systemic changes already. one th

the banks involved sitting -- citigroup, barclays, rbs.have heard from that bank this morning. we would get back to banks in a moment that let's talk about target because they reported earnings. julie hyman has the details. it looks like target had a good quarter. julie: it did. if you look at the earnings pressure, they reported $1.10 and $1.2. they have been emphasizing its children's and baby and wellness items. that strategy seems to work.

. >>> and check out the bankts as well, jp morgan, citigroup, barclays and rbs set to pay billions oflars in fines and plead guilty to criminal charges of manipulating foreign exchange rates. six banks were fined in total close do $6 billion. carl, attorney general loretta lynch said it was the biggest antitrust find the agency had received in history. >> the scheme apparently going for five years, starting back in 2007. >>> when we come back, seven years today, roku released its first ever device to stream netflix straight to your television. since then, streaming has come a long way, the ceo of roku will tell us what's coming next in an cnbc exclusive. still waiting on major news from spoti spotify. a to have executive will break it down for us. >>> and alibaba's jack ma talking about the importance of female workers at a summit in china. cnbc was one of the only broadcast outlets inside. we'll tell you what he said. automotive innovation starts... right here. with a control pad that can read your handwriting, a wide-screen multimedia center, and a head-up display for enhaed driver

barclays, rbs, city, and jpmorgan are all said to be ready to plead guilty.he link here is fascinating between what happened with ubs and the fx story. explain the connection. >> ubs is being implicated in both the fx and libel scandals. the ebs has good lawyers, or they are good at finding wrongdoing and fessing up quickly. so with libel, they were first to the door and he escaped criminal sanctions. here we are three years later, yet again they are caught up in the fx thing they were first in the door of the department of justice. ubs has avoided the scandal. they have not gotten off the hook completely, because the department has turned around and said it you signed a deal. you have not stuck to the terms you committed other crimes, we are going to hit you with a guilty plea and a fine. guy: do they have to keep their nose clean on the fx one? liam: you would think so. i think they have a three-year probationary. . maybe -- guy: they are under pressure for higher pedestal is. liam: the penalties are going up. one interesting thing is that banks are being f

all eyes on barclays rbs, citi and j.p. morgan as fines top $5 billion. >>> welcome you're watching worldwide exchange. it's 5:00 a.m. on the east coast and 10:00 here. i'm puzzled about where the u.s. consumer is. we saw really bad numbers from walmart yesterday. the stock down 5% but then housing starts were pretty good. retail sales were really choppy last week. where is the u.s. consumer? what are they doing with the gas savings? are they putting it aside to pay down debt? are they investing it in housing? i don't know. do you know? >> i don't know for sure but my take on it is the u.s. consumer is not in a fundamentally bad position but definitely in a cautious position. that's probably a pretty good summing up of sentiment in the u.s. at the moment. we've seen equities hit all time highs again. there's no real reason to be that excited about those types of highs and the consumer yes they have seen oil prices come down and gas bills come down but they haven't hauled that money into consumption an that's probably quite

settlement by next wednesday that will include guilty pleas from five bank, ubs, citigroup, jpmorgan, barclays and rbssaying it may triple its money in the bailout of online currency trading index cm, because a rescue fund is now valued at $947 million. this is according to regulatory filings on leucadia. and the world's oldest bank looking at profit in the first quarter after a lost the year earlier. but profitably targets are delayed until 2018. beijing morning it will walk a fine line before it takes another step on easing. the central bank reported overall trade with the world slumped 11% in april. how can china balance with one foot on the accelerator and the other on the brakes? joining me an analyst at will crest asset management. you put money into china, right? is it fundamental growth or pboc? guest: our view is that you have a real shift, china is changing gears. it is moving from an investment and export oriented economy to a consumption oriented economy. that will be a bumpy path, but there will be winners and losers and the key thing will be to identify who will win will. alix: from wher

now switching focus, citi group, jp morgan barclays and rbs are expected to plead guilty to rigging the foreign exchange markets and pay billions of dollars in combined penalty. the wall street journal says u.s. authorities will announce separate settlements as soon as next week. the banks are expected to plead guilty to criminal antitrust charges for alleged collusion by traders. ubs which cooperated in the u.s. probe will also reach a settlement but avoid criminal prosecution. taking a look at shares of citigroup, jp morgan and barclays all trading lower in today's trade. >> lumberly inquiry at a tos will halt sales of chinese wood flooring immediately. they face dozens of lawsuits over the safety of the products. lumber liquidators has been under fire since march when they aired a program saying the chinese flooring contained high levels of a known carcinogen. they would neither confirm nor deny the move but an announcement is expected today. >> a big deal in bio tech. alexion acquiring synageva. it's an ideal fit providing life transforming therapies for an increasing number of pati

barclays higher by 3.6%. rbs up by almost 5% and we are seeing them up by 5.6% as well. want to get back out to wilf on the green. now, wilf i'm just wondering at what point the markets are actually going to focus on what the conservative government actually means because we've got the referendum in two years time. do you think what we're seeing today is a knee jerk reaction and the losses will come later? >> that's a big part of it. we saw sterling sell off from the 155 handle down to 151 and it's now in the 154. that highlights a short-term move. the biggest fear for markets has been the chance of there not be a clear result either way. whether it had gone toward labour or toward the conservative party. that's what the market is welcoming this morning and the gains are within reason for that. just over 1% for the ftse is reasonable within that time frame. when will the market start to focus going forward from here on the long-term plans of the conservative party and i think that will start to come in but interesting steve that we've seen on the sector performance, bank