does the performance on santander -- there is the performance on santander.head of the estimates of 8.30 8 billion. think about ubs, way up there in the single digits. we just heard from deutsche bank, reducing risk-weighted assets. this is one of the perhaps most challenged capital position banks out there. terms of net income, 1.7 billion is a beat. net income is a beat. the second quarter is a beat. limited equity for number is 10.17%. so it beats the highest of the high estimates. that's the key point to take away. deutsche bank delivered a curtain raiser, if you want to think of it in those terms. a couple of weeks ago, the stock rally. gives us a hint of what was on the agenda. let me recap that for you. did they lose any market share? result revenue drop 17%. all the editors are there. it gives you the challenge they are under. your today, down nearly 13%. ficc is down, the guidance said it would be slightly lower versus lower. they have let people go, 1700 people have left the bank in the past quarter. asset management has seen outflows of 5 billion e

parliament and head of the estonian delegation to the nation upon a mentoring assembly and from santander spain by skype is a very sporty former director of policy planning at nato a very warm welcome to all of you mr galbraith let me start with you is that nato is existence in its current form at threat because of the ongoing attacks by the us president. it's hard to say. because you know maybe their whole thing lastly the trump presidency but i think there's i think that there's a question as to whether trump's agenda isn't in fact to destroy nato he talked about how useless nato was in the campaign they wanted to get rid rid of it . well let's look beyond that. he's certainly has an office or very likely an office that's result of russian interference in the election and diminishing or getting rid of nato is right at the top of mr. mr mickelson what do you make of that as a member of nato is donald trump out to destroy. i don't believe. think that nato is. the same way in the interest of the united states says it's for european allies and seventy years are the best example haul these a

. >> i'm trying to understand why the spanish banks, particularly bbva, santander trade at such a deep discount to their counterparts in europe the spanish economic recovery story is at play, growth has been one of the -- growth in spain has been stronger than many other countries in the eurozone so the numbers on the ground are better they made progress on the npl issue as well. and yet these banks simply are not enjoying a rally just looking at the numbers year to date, bbva is down 15%. santander is also down an equal amount so they are not enjoying the rally that some other european banks have enjoyed >> there it is a slightly strange situation because most of the earnings for banks have come out of global operations, however with global operations there is geopolitical risk the nafta negotiations will be an overhanging situation it won't change the strategy, but there is that factor santander has brazilian operations which needs clarity, and the capital ratio position remains a concern particularly in the uk. they posted 10.8%. and if we do a comparison, bbva look slightly smarter

bancok is santander -- santander second-quarter net income beat the highest of analyst estimates. spanish bank is confident they will achieve its 2018 goals. >> this is the first of many quarters we saw positive long growth in all our developed economies. obviously, we continue to see strong growth despite the elections in mexico, the uncertainty around mexico and the elections in brazil we will have in october. we also saw healthy growth in latin america. this is obviously on the back of positive growth in the number of loyal and digital customers, which grew in places close to 20%, but we have seen particularly in europe a better quarter, probably the best quarter we have seen in a few years. petrol maker group psa says its first-half profit surged on higher car sales and cost cuts. the automaker boosted its profit against higher raw materials. >> for the time being, we want to be recognizing that yes, we are performing well in europe and europe is a place where we understand our customers and can can make great products with great technology and create value. that is the reason

member of parliament and head of the estonian delegation to the nato parliamentary assembly and from santander spain by skype as the breeze former director of policy planning at nato a very warm welcome to all of you mr galbraith let me start with you is that nato is existence in its current form at threat because of the ongoing attacks by the us president. it's hard to say. because you know maybe their whole thing lastly the trump presidency but i think there's i think that there's a question as to whether trump's agenda isn't in fact to destroy nato he talked about how useless nato was in the campaign they wanted to get rid rid of it . well let's look beyond that. he's certainly has an office very likely in office that's result of russian interference in the election and diminishing or getting rid of nato is right at the top of mr. mr mickelson what do you make of that as a member of nato is donald trump out to destroy. i don't believe. think that nato is. the same way in the interest of the united states as it's for european allies and seventy years are the best example of all these allianc

so we go for slightly more global banks on the bank of santander side and banks that can diversify a little bit more around the business. in the end, if global growth continues, we hope that will provide us excess returns. >> certainly the big if on everyone's mind. tom, thank you pleasure to have you on the program. >>> sticking with the banking sector, let's get the view of shares in standard charter which are trading near the bottom of the stoxx 600, off more than 3% after the uk bank did report a 23% rise in underlying pretax profit for the first half of the year but they did say it remains vigilant to the impact of tariffs introduced between china, the u.s. and the eu the lender says its direct exposure to the trade tension is limited and it remains optimistic on global growth, but they did warn the macro economic environment was challenged by increasing uncertainty over escalating trade frictions. >>> as always, get in touch with us about any of the earnings we've been discussing. get in touch with the show on twitter, @streetsignscnbc. >>> still to woman on the show, we're kee

. >>> elsewhere we want to look at santander results. overall integration costs and currency headwinds did weigh on santander in the second quarter. they posted a 3% fall in net profit to 1.7 billion euros. the cost of integrating bank popular is expected to way on earnings through 2019. you are looking at a bit of a mixed picture here the stoxx 600 just barely holding in positive territory. looking at the breakdown one by one for the individual bourses, a lot of earnings action in focus here not just in germany but across europe the ftse 100 is off 0.2%, overall the german market is slightly in negative territory the french cac 40 and the minute have been pushing higher >>> let's check on yields. we were talking about some moves here we are looking at u.s. ten-year yields now off slightly. overnight the ten-year did creep higher 2.9430 ever so close to that 3% level let's get back to greg peters, senior portfolio manager of pgim fixed income we had a discussion about the bank of japan in particular. when you said, look, there are still

of our guests peter galbraith in vermont marco mickelson and talent and fabrice sports here and santander and thank you too for watching you can see the program again any time by visiting our website zero dot com and for further discussion to go to our facebook page that's facebook dot com forward slash a.j. inside story you can also join the conversation on twitter handle is at a.j. inside story from elizabeth for on him and the whole team here bye for now. july on al jazeera. in a new series of head to head maddy has been tackled the big issues with hard hitting questions pakistan is going to the polls to elect a new government what pump will the country take people in power continues to examine the use and abuse of power around the world a generation of voters in zimbabwe grew up knowing only the leadership of robert mugabe now they're electing a new president of the first time since independence his name's not on the ballot on television and online the stream continues to tap into the extraordinary potential of social media to disseminate news. july on al-jazeera. expelled from their

of our guests peter galbraith in vermont marco mickelson and talent and fabrice sports here and santander and thank you too for watching you can see the program again any time by visiting our website al-jazeera dot com and for further discussion to go to our facebook page that's facebook dot com forward slash a.j. inside story you can also join the conversation on twitter handle is at a.j. inside story from elizabeth for on them and the whole team here by fanatics. thank you. south america australia pretty. solid. i imagine folded to me seized a mosquito and that was probably a good day when the stream flows clear that space because the makes sense to say it's close to the coolest. thing in. the. street. just as. you. plug. the most memorable moments with al-jazeera was when i was on air as opposed to. the crowds in tahrir square. if something happens anywhere in the world how does iraq is in place we're able to cover news like no other news organizations. were able to do it properly. that is our strength. when they're on line is the chief. of the. society today or if you join the sunset

plus certain credit and debit cards do not charge fees, and it's true that some banks, including santanderwell as the standards ones. they should be transparent about the charges. but this malaga travel expert says most people do get charged the full fees, so their money simply doesn't go so far. i know for a fact that in malaga you could have several good meals out for the amount that you've effectively given to the bank, on commission. businesses like this pub in malaga are worried they are losing out as well. it has a knock—on effect to me. directly it affects the customer obviously, but the customer becomes aware of that, and then they're less likely to spend here if they know they're going to be charged 3% every time they use their card. everyone needs to get wise to card charges, or you will find a dream holiday can end up with some nightmarish costs. simon gompertz, bbc news, malaga. mps and lords could be sacked, if new plans to deal with allegations of harassment and bullying are approved. the new code of conduct for parliament follows a number of allegations of inappropriate sexu

assets, deutsche, santander, credit suisse, the others, can foreign banks with more than 50 billion in u.s. assets can they expect to get regulatory relief during your tenure? >> i thinky say that 2155, it's not clear how it provides regulatory relief to those firms. all of the banks that have 50 billion in u.s. assets have more than 250 billion in global assets. i don't think there will be much effect. i won't say we'll never do anything to provide regulatory relief during my tenure. >> you position seems to be if they're between if they're over 50, in the u.s. under 250 as those are, but much, much, much bigger with all the -- >> globally. >> globally. that you don't expect any regulatory relief for them? >> well, the main thing is that the 50 billion threshold for internal holding companies, will remain the same. and we're not looking at that. >> i think they won't see much difference. >> the fed proposed fiscal commodities for 2016. you're moving to finalize it. the fed responded to questions for the record. saying that the board continues to consider this proposal. when can we exp

even though santander and citigroup and hsbc have falled on qualitative grounds before. that doesn't include the changes that the fed has passed to weaken dodd frank, making company-run stress tests for the largest banks periodic, instead of annual and exempting more banks from stress tests altogether and vice chair quarles has made it clear that massive foreign banks can expect goodies, too. and on and on it goes. the regulators loosen rules around big capital, dismantle the cfpb, ignore the role of the f-soc, undermine the voeckler rule, weaken the community reinvestment act. when banks make record profits we should be preparing the financial system for the next crisis. we should build up capital. we should invest in workers, we should combat asset bubbles. and we should be turning our attention to bigger issues that don't get enough attention. like how the value of work that we place in work has declined in this country. how our kmk economy in increasing measures success only in quarterly earning reports. much of that is up to congress to address. over the last six mo

santander looks to be in pretty good shape.hey published second-quarter earnings would slightly beat expectations. driven to a large extent by brazil despite the puts go problems. brazil will continue to be a great market for them. hitpain, their profit was by a charge based on their acquisition of a bank. lvmh seems to because it would be trade war? second-quarter sales rose 11% beating analyst estimates. you may have heard there is a trade war and that chinese markets how plunged this year but it seems that hasn't really curbed amand for lv handbags or celine handbags. from the trade war hasn't materialized yet but you can't really extrapolate the first half results into the second half because of economic uncertainties. it should be a good day for luxury and lvmh. mark: matt, deutsche bank. i obviously have gone over and spoken with the ceo, and we have an exclusive interview coming up in just about 30 minutes time to play for you. deutsche bank has come out with the numbers they preannounced back in the middle of july but t

we will speak to the cfo of santander. plenty more to come. this is bloomberg. ♪ is 9:30 a.m.dubai . you're looking at a live shot of downtown tokyo. is currently up 0.5%. we have some breaking lines. nejra: we have some numbers coming through here from persia. revenue comes out at 13.6 billion euros bang in line with the estimate. at 750rring costs million euros. the first top profit has surged on higher car sales and cost cuts is the take away here and the cfo saying the situation in china is stabilizing. we will hear a lot more in the next hour when we see -- when we speak exclusively to the cfo. let us check in on the markets. at theus take a look equity trading session in asia. as you can see behind me, it is pretty much a sea of green. looking at japan. up 0.5%. losses a reverse of the we saw yesterday on the back of the reports that the boj might change its qe program. the yen today is little changed. looking at china, extending three days of gains. percent. hong kong is also up one play 4%. really strong session out of china. lastly, i move on to my next chart -- looki

including ceo of ubs and exclusive interviews from the ceo's of anglo american and the cfo of ago santanderr the european open. stay on bloomberg. surveillance is next. ♪ . . presidentthe u.s. counterparts,his warning consequences if tehran continues to threaten america. the central bank takes actions to raise yields. ca's new head. mike manley in charge as a health crisis prevents sergio marchionne from coming back to work.

we had a great rally, still have it over in europe, all the big banks are up santander, all up 2 wherean, very marginal. a lot of big banks have gone negative they were up first three minutes, then went negative right now. keep an eye on that. where are we the last two weeks it's been very, very defensive we're in a trading range 2,700 to 2,750 right now smack in the middle of 2,727 but the strength is coming from all those defensive groups that we really do not like to see as market leadership. we notably oversold industrials, semi-conductors and banks. when i say oversold, i watch short term trading, relative strength indicators. when you are below 30, you're really oversold. below 20, you're really oversold these are buying signs for these sectors. industrials at 15? that's way, way oversold just in the last few weeks, these are short-term trading indicators, semi-conductors and banks. that's why you need to see a little bit more of a bounce here or you'll get very, very serious concerns about long-term trends. semi-conductors, very important to note, these things have been down in

we will speak tomorrow, i think, to the chief financial officer of santander.chief executive of anglo american. if you look at the leadership of the industry groups we are talking to, we have the media, the chief executive of itv, and then we have oil majors. all of that and much more, coming up this week on bloomberg. this is bloomberg. ♪ ♪ tom: we welcome all of you worldwide. francine lacqua in london, tom keene here. podcast,get our apple abby joseph cohen will be featuring heavily on this she is in charge of china panic. you have a wonderful skyscraper in hong kong, there's a fair amount of china panic whether it is 1600 pennsylvania avenue or other places. >> we have to look at it in two different time periods. right now what we are seeing is that the chinese economy has been slowing, the chinese monetary authorities are trying to provide stimulus. why is this important? globally the chinese economy is the world's second-largest, it's also a major trade partner. we are focused on the u.s. trade on the bilateral basis but china is an enormous trade partner

weeg talking about deutsche bank and santander, ups and barkley's. these foreign banks have broken our laws time and time again. yet we're going to loosen the rules on these foreign megabanks. the question i have with all of these weakening of protections for american taxpayers and american consumers is what problem, what problem exactly is the fed under mr. quarles' watch trying to solve? banks increase their profits by -- increased their profit by 13% last year. that's before you cot for the windfall in the tax cut. when you add in the tax benefits, it was 28% increase in their profits. the banking sector bought back $77 billion worth of stock last year, and the c.e.o.'s of the six largest banks got an average raise of 22%. so what exactly is mr. quarles trying to fix? what's not going all the bank's way day after day after day? the c.e.o. of wells fargo got a 36% raise even as scandal after scandal after scandal after scandal mounted at the bank under his watch. so i don't think these megabanks are really the people that need mr. quarles' help. ma