to paul on go santander.l: right on the closing bell of european markets, santander the options to call 1.5 billion euros of convertible bonds next month. potentially, that could drive up costs across the market. it shows it is not necessarily the case it can be called at the first opportunity, and it is possible other banks could take a similar line. there will be concerns in the market this morning. matt: annmarie, it is almost cocktail hour, what is the story with heineken? annmarie: maybe in tokyo but not berlin. the calls are saying it will jump 3% to 4%, they beat estimates think to their flagship namesake brand. nonalcoholic beverages did well. brazil was a key driver of gains. in 2017, they became a top brewer in brazil. the u.k. and russia was good geographically for the company. it is looking good for heineken this morning after earnings. anna: thank you very much for the updates on the stocks we are watching. if you want all the latest stock stories the equity team is following, at first go on your

. >> en el puente santander hubo personas heridas . presidente encargado, juan guaidó dio el banderazo a la salida de lardo del camión nÚmero 1, recibió un militar y policías, y cruzaron a colombia, dijo que todo iba muy bien . >> va a entrar la ayuda, sabemos que no es suficiente para el pueblo. >> hubo camiones que cruzaron. >> pero . >> en el puente santander hay una batalla campal, pasaron 4 camiones con ayuda humanitaria, dos fueron incendiados, uno fue robado y otro regresó al lado colombiano. >> en tienditas miles de personas esperaron por horas, la policía colombiana les cerró el paso, un día de frustración para seguidores de juan guaidó, pero están dispuestos a seguir adelante . >> no nos vamos a rendir, vamos pa' lante porque somos venezuela. >> se está viviendo de euforia en el puente santander porque han detenido a oficiales de la guardia bolivariana, de las tropas venezolanas, no sabemos si ingresaron por voluntad propia a colombia o si los han atrapado, son momentos de mucha tensión los que se viven en la frontera que es

there are three or four banks everyone will look at, barclays, --nordea,santander santander, there willantander has done in the past. see othere going to coco bonds? the idea that this is critical, a bond into perpetuity. will we see more of this from other coco's? jonathan: the impression i get is probably not much, but certainly it is from the debate of quarterly calls versus over a five or 10 year date. the debate will rage on, but if you look at the price action, it will go from $.98 to 95.5 cents back to $.98. it is manageable. tom: the heart of the matter -- and this has been written up as the cost of funding of italian banks, deutsche bank -- the santander piece coming in at a 5.53. is that a high-yield? are the banks in europe that junkie? odd billione 400 that will come due over the next 12 months, you are beginning to look at liquidity in european banks and the funding ratio. you have to take into account, what will the ecb do? with return -- in terms of funding, do we have a problem? no. we have a problem in the outlook. that is part of the net interest income line. francine:

but very important, santander comes out as the best bank in europe.is our model, which delivers growing results, predictable results through the cycle. our investors want us to continue on this line and continue generating all these advantages. >> what exactly happened? happened? what made you believe that there was a commitment to pay -- >> andrea is a great professional. we've known each other for years. the ford came after a very diligent process to the conclusion that the amount santander would have to assume for his buyout was something that was not right for us. because of this process and requirements, we had to announce early, and so unfortunately that's where we ended up. we believe this is the right decision for all stakeholders. >> do you blame ubs? does it change your relationship with ubs? >> we have a great relationship with ubs. we will continue working, and we respect their decision. >> finally, we heard from elizabeth warren, the u.s. senator from massachusetts, who's exploring a run for the democratic presidential nomination in 2020.

starting in spain with banco santander. >> santander will push ahead with a new strategic plan afterorting better than expected fourth-quarter earnings. profits jumped by more than 1/3, but a decline in u.k. earnings and challenges in brazil . -- in brazil underscore the challenges ahead. >> we're focused on digital transformation, building global platforms so we can take advantage of our scale. santander has 144 million customers, and the whole focus is going to be on building these horizontal platforms, on different areas like trade and operational platforms. this is going to be very transformational. >> alibaba rose after posting a 41% rise in quarterly revenue. china's biggest e-commerce business was able to offset slowing online sales by expanding into cloud computing and entertainment. are we looking at a bit of a peak for alibaba? in terms of some of these numbers, the revenue growth, slower than three or four years ago and was typically a strong quarter. >> i think the result is actually in line with , but there is an expectation that the worst is behind us. theybody is expec

. >> santander has reminded investors that juicy bonds can come with nasty surprises.ish lender rattled the bond market by saying it will skip an option of 1.5 billion euros of notes next month. this seems like a pretty important vision of santander, which could reprice the market. >> what's clear is that the market is struggling with pricing to perpetuity and pricing to call, you could be looking at 3% to 4% of yield difference, clearly for pricing bonds is very important. what we are hearing, santander -- this is not completely out of line with what they've done in the past. not a huge surprise. this was being talked about over the past month. >> does it have wider implications, or do you think this is just a market panic? >> it is not a panic. you are not seeing a rout, but if you look at barclays, santander, they want bonds -- of course there is plenty of chatter with the court date coming up, but from what we understand talking to investors, this isn't entirely out of line with what santander have done in the past. abigail: just when we thought the credit concerns

this seems like a pretty important vision of santander, which could reprice the market. >> what's clearith price of volatility. you could be looking at 3% to 4% of yield difference, clearly for pricing bonds, that is very important. what we are hearing, santander -- this is not completely out of line with what they've done in the past. not a huge surprise. this was being talked about over the past month. >> does it have wider implications, or do you think this is just a market panic? >> you are not seeing a rout, but if you look at barclays, santander, they want bonds -- of course there is plenty of chatter, but from what we understand talking to investors, this isn't entirely out of line with what santander have done in the past. ♪ >> just when we thought the credit concerns were receding in china, we get news of this. two large chinese borrowers missed payment deadlines this month, in the market that is witnessing the most company failures on record. >> the two companies are industry champions. the first one is considered by some as the largest private-sector investment company in the

second, let's not forget that santander has been undergoing a lot of changes there was the whole talk about mr. orcel coming and being the potential ceo. when you make a decision like this, it has to be done at a senior management level. perhaps the management are were waiting for the arrival of a new ceo to be making making a decision like that that plenty of moving parts there at the board level >> you know, the reaction actually this morning in the bond markets is one of brushing it off and we're seeing very limited reaction in equity space. as you can see, the stock is pretty much on the day, and some tier one bonds in the sector are rallying a little bit. for the time being this is an isolated santander event from a credit market perspective, it is coming at an interesting time for the banking sector certainly they have to weigh that against the benefit of this potentially being a cheaper option i mean, is that being short-sighted of santander to go ahead with this move >> i think speaking to some analysts in the sector this morning, they have said that typically a santander are

other banks may follow suit of what santander did.s is one of the top stories on the bloomberg terminal is learning -- this morning and certainly one we will be watching all day. manus: thank you very much, anne-marie. let's talk about results. missed the mark on fourth-quarter chemical sales. joining us is the cfo. good morning, sir. what happened in the fourth quarter? i want to get a sense of the demand from your customers in the fourth quarter. good morning. patrick: good morning to you, thanks for having me. we have seen a good development in 2018 in terms of results and demand. we had 5% growth but as you mentioned, q3 was a bit softer, with 3%. we managed to outperform the previous year in terms of profit margins but sales showed a slight coming down from the previous dynamic, driven by softer china and a softer europe, which is due to the trade uncertainties and people being a little bit cautious. however, we see that demand is there. we will look for the numbers after chinese new year in q1 but we are certain to have further

>>and santander is a national champion.hey have a different view there may be a weaker bank might have. and people have been, presumably they might call this a euro up, withs euro coming tomorrow be in the last date, but there is a lot of debate whether it will are not. there is also the dollar coming up in may, which will also likely not be called. vonnie: what would be the right thing to do in terms of confidence for the santander? >> the right thing to do might be for it to be called as is sort of market practice, usually come in euros. less seven dollars. but santander and a lot of people in the market want to move away from this. it is always expected these will be called. but move toward a more economic way of doing it, when it suits the issuer. this will switch to a floating euro rate. beit isn't called, it will lower and therefore they are issued in this has to give respectability. i think that people will be relieved that the bond price would go up. if it is called, it initially slightly below now, but if it is not

santander investing in debts reminding investors that bonds can come with surprises -- santander reminding with surprises. lisa: let's take a step back and look at the markets. it's a 300 billion dollar market of contingent capital bonds. were required to have bonds that could turn into equity and be wiped out should the amount of capital at the bank fall below a certain degree. santander had this $1.7 billion bond coming on for a call option. ony decided late in the day the deadline whether or not to call it, telling investors we will not call it. tumblingnt bond prices . this is the first uncertain, highly uncertain call option since the market grew up. this is a test. risk andthe perceived cocoa markets has been rising -- in coco markets has been rising. this matters a lot because investors basically view santander as a first test case saying they will not call the bonds when we expect them to , that raises a precedent for other banks. if it's not in your financial interest to redeem these bonds and incur more debt and a higher yield -- at a higher yield, don't do it. those bond investo

cÚcuta, al norte de santander.a las esperanzas de joaquÍn "el chapo" guzmÁn. negaron dos recursosla reclamaciÓn. la Última carta que le quedaba a su defensa para invalidar su proceso en estados unidos desde aquÍ. >> he permanecido en una forma muy severa, muy enÉrgica en su defensa. precisamente para que la corte de nueva yorksuspenda obviamente el proceso que se >> fue remitido a una tercera corte que es totalmente extraÑa al procedimiento de extradiciÓn. esa es la corte del este en brooklyn. lo confinan a una cÁrcel a quien sinaloa, su tierra natal, algunos creen que no habrÁ justicia nunca. >> si algo tenÍa que pagar, lo tendrÍa que haber pagado aquí en mÉxico. enrique: se suman mujeres a la acusaciÓn de abuso sexual contra el ex presidente de costa rica. bueno, bueno, mi casa no está tan limpia como quisiera. ¡estoy muy ocupado! ¿quién tiene tiempo para estar detrás de la suciedad, el polvo y el pelo? por eso uso los paños heavy duty swiffer sweeper y los plumeros de swiffer, ideales para alcanzar lugares y rin

la guarda nacional dos de ellas con sus familias, 96 ingresaron por diferentes puntos del norte santandernos trae detalles. gilberto: lejos de su paÍs y si poder hacer nada, algunos en la comunidad venezolana de nuestra zona se sienten impotentes ante la valencia desesperaciÓn y muerte que estÁ ocurriendo en su paÍs. >>la gente perdiendo sus trabajos, las empresas todas quebradas, fue cuando yo me vine hace nueve aÑos. >>hace cinco meses mientras de su familia altamente que abandonar el paÍs debido a la crisis. >>tengo mi mamÁ acá de 88 aÑos y estÁn prácticamente en mi casa porque no pueden estar aya. estÁn la situaciÓn demasiado precaria, siendo profesionales, siendo gente que estudiado hemos salido para delante. >>mÁs crÍtico el gobierno de maduro no ha sabido manejar esta crisis. >>profesor de sociologÍa en la universidad de de santa clara, enrique puma y sÉ que la situaciÓn puede empeorar antes de ver mejorÍas. >>desgraciadamente se ha poner mÁs feo a la situaciÓn antes de mejorarse. >>las imÁgenes destrucciÓn y muerte de las Últimas horas lo hacen pensar que ya basta de reuniones, ma

. ♪ ♪ muy buenas noches, transmitimos de ser puente internacional francisco de paula es, santander todavÍae los camiones que fue incendiado. en este esfuerzo que se vio frustrado y ante el que se impuso la violencia por parte del rÉgimen de nicolÁs maduro. una formado que se esperaba en la que se pudiera establecer un canal humanitario. vimos violencia y represiÓn en varios puntos. si en el reporte de los mÁs de 280 heridos las cinco personas que perdieron la vida no son fundamentos con esfuerzos de maduro. >> enrique, habl{o guaido realizÓ acompaÑado del presidente de colombia y del secretario internacional de la organizaciÓn, luis almagro. le dijo que no le deben ninguna lealtad a quien actualmente estÁ en el poder. >> quiero expresar que el mundo pudo ver hoy la barbarie de la dictadura que oprime a venezuela. hoy vimos como un hombre que no le duele el pueblo de venezuela manda a quemar necesaria comida para hambrientos. no le lealtad, seÑores de las fuerzas armadas, alguien que quema comida tos. mientras que se creÍa que eso era la noticia con la que se cerraba la noche de hoy, guaido

santander trading in the u.s. thanks to paul dobson. we will continue with iain. yield in the u.s., is is so attached to the german bund yield that it will not actually trade on its own or take a different direction unless it can break that, you know, it can break that connection? iain: i do not think so. as we saw last year, we had an environment where treasury yields moved to hire and that was not the case for the german bunds. you will be looking at the economy in europe, what is happening in the u.s., and that will be the main driver of yields in both areas. vonnie: what are you doing i jpmorgan international -- at jpmorgan international, are you looking at various bonds in all countries? iain: you want to look at the local market. i have been a little bit surprised by how well the dollar has done post the fed announcement. i think that maybe the u.s., relative to other markets, looks reasonable. but there is an opportunity, that if we get good news around trade, we get a patient re the next six months -- fed the next six months, then other currencies can do w

border towns and many are talking about this a truck been set on fire on the francisco depaul or santander bridge on the venezuela colombia border and u.s. politicians have been condemning the latest events senator marco rubio blamed president maduro and the venezuelan troops for preventing the foreign aid getting in he says the whole world saw the regime used security forces and gangs to kill and injure unarmed civilians and the whole world saw them set fire to three trucks carrying food and other aid and secretary of state might pump air said what kind of sick tyrant stops food from getting to hungry people images of burning trucks filled with aid are sickening now some on line are refusing these planes people like marcus public topless from politics first says the u.s. has weaponized human rights and aid in its bid to overthrow the legitimate government of venezuela and subdue the people and produce the max blumenthal brought this opinion piece which is quite interesting suggesting it was maust opposition youth who torched the trucks themselves he refers to the venezuelan channel called

asimismo un camiÓn repleto de comida y medicinas a fue incendiado en el puente santander, en la fronterao de una caravana de cuatro camionetas y lanzaban bombas contra manifestantes. >>no le deben ningÚn tipo de obediencia a quien con sadismo, porque no tiene otra expresiÓn por duro que suene, celebran que no entre la ayuda humanitaria a un paÍs que la necesita. no le deben ningÚn tipo de lealtad. >>gu anunciÓ que el lunes sostendrÁ una reuniÓn con el presidente de estados unidos y el grupo del iva al fin de evaluar la situaciÓn. y para saber mÁs sobre lo que se ha vivido este sÁbadovamos con el reportaje de mario vallejo desde cÚcuta colombia. mario: la ayuda humanitaria no logrÓ entrar a venezuela, al menos todos los camiones y todas las toneladas de ayuda humanitaria que estaba previsto entrar allÍ, desde la maÑana de hoy a territorio venezolano. lo que ha vivido este equipo de noticias 23, realmente es para contarle. de la resistenciay la imÁgenes hablan por sÍol vivimos momentos difÍciles durante la cobertura desde el puente simÓn bolÍvar, que una colombia con venezuela. nuestro sen

i want to begin with you and he skipped call option -- and the skipped call option on the 81 in santanderspain. how concerned are you? krishna: it is the first, so if you are a typical european investor and got into the market with certain expectations, you are disappointed, flustered. how could they do this? if you are a long-term investor in credit markets, have been doing this for a long time, this sort of thing happens all the time. we have had this with tier one's, lbo's, a company would promise all sorts of things. as an analyst, you have to expect what is the most economic thing for the issuer to do? this was, indeed, the most economic thing for the issuer to do. they are fiduciaries. jonathan: this is a market that is now maturing? doug: one great analyst in london said just that. if you look, from an economic standpoint, were they supposed to do this? yes, they were. did they know it was going to surprise the market? they probably did. i think it is a sign of a market that is maturing. not only the action but the reaction. jonathan: we had a little bit of a move after the event b

venezolanas intentan frenar el ingreso desde colombia de ayuda nÚmero rÍa, bloqueando el puente que enlaza santanderestÁn en el mercado para hacernos la vida mÁs facil, hoy en onda digital, vamos a hablar de esto y otros gadget con ana mÉndez, bienvenida. >> felicidad, me encanta saludarte, y cÓmo dices la tecnologÍa nos ha mostrado, que hoy en dÍa tener posible tener algunos gadget o invitos que hace algunos aÑos solo estaban en nuestra imaginaciÓn ejemplo es la empresa que creo un celular que puede do primeros lugares en tres partes, la magia estÁ en los materiales que pueden doblarse en mÚltiples ocasiones sin romperse, te gusta el diseÑo? >> perfecto porque muchos nos metemos el celular en los jeans asÍ no se va a daÑar. >> l g hizo algo increÍble, esta tecnologÍa flexible, la traslaÓo a la televisiÓn para crear una pantalla en errÓ wlabl *, felicidades, sin lugar a duda es un avance tecnolÓgico que va a estar dando mucho de quÉ hablar no crees? >> wow!, claro que sÍ, lo mismo, queremos ir a todos lados y traer una buena pantalla, o sea que para los viajes, perfecta. >> exactamente pero en el mu

en cÚcuta, al norte de santander.te de nueva yorksuspenda obviamente el proceso que se le estÁ siguiendo. >> fue remitido a una tercera corte que es totalmente extraÑa al procedimiento de extradiciÓn. esa es la corte del este en brooklyn. lo confinan a una cÁrcel a quien sinaloa, su tierra natal, algunos creen que no habrÁ justicia nunca. >> si algo tenÍa que pagar, lo tendrÍa que haber pagado aquí en mÉxico. enrique: se suman mujeres a la acusaciÓn de abuso sexual contra el ex presidente de acusaciÓn de abuso sexual contra el ex presidente de costa rica. ♪ acusaciÓn de♪abuso sexual contra el ex presidente de costa rica. crece el escandalo sexual del ex presidente de costa rica y premio nobel de la paz oscar arias.otras dos mujeres se sumaron a una denunciar a arias de haberlas abusado sexualmente.una de ellas es periodista y la otra directora de comunica enrique: las tres han descrito a detalle cÓmo ocurrieron los supuestos abusos. pedro guzmÁn tiene mÁs informaciÓn. pedro: afuera de la casa del expresidente de costa

cannot take part in the initiatives to hand over assistance for venezuela from colombia dr monro santander again says there's one clear driving force behind the crisis. it's very important economic interest that is pushing all the sides to you know have a. say and two percent different options on venezuela the united states which. you know the importance of venezuelan oil and is moving with the support of colombia and brazil to to you know have more dominant be more of an influential player in the region but also the fact that venezuela has made a lot of promises and relationships economically and commercially with countries like russia and china so i think or oil becomes sort of a contest station between the two sides for you know the future transition of venezuela it is a key driver of many of the interests initially. that out of pocket is the claim by the u.s. president on eisel fate in syria and iraq saying its remaining territories will be recaptured by next week made the statement at a major counterterrorism conference in washington d.c. on wednesday it should be formally announced s

santander again says there's one clear driving force behind the crisis. it's very important economic interest that is pushing all the sides to you know have a say and to present different options on the israel of the united states which. you know the importance of when it's really an oil and is moving with the support of colombia and brazil to to you know have more dominant be more of an influential player in the region but also the fact that venezuela has made a lot of promises and relationships economically and commercially with countries like russia and china so i think oriel becomes sort of a qantas station between the two sides for you know the future transitional been as we look it is a key driver of of many of the interests in business we. our spanish church has cancelled the shadowed screening of an award winning documentary called gaza a look into the eyes of barbarism the pastor claims the decision was made under pressure from quote the jewish community. the vicar called me on behalf of cardinal of story to tell me that the screen of the documen

they realize what santander did is confined to santander.are wise to price the bonds particularly for the possibility that we could extend that the first call. felt ite rhetoric proves this is a bad asset class. david: a new asset class. people don't understand it. let's stay in spain. they don't have a budget this morning. they voted it down. it may lead to a snap election. is there going to be a new election? if so, who is going to win? surprises, no spending bill for 2019. a very weak government, a very weak prime minister. that means political conventional wisdom would suggest they need to call for an election now. -- polls arelikely split. the relationship between barcelona and madrid has broken down following the independence trial. more political uncertainty for your. -- four europe. -- more political uncertainty for europe. parliamentn elections are in may. a lot of political uncertainty playing out in europe. yet, the markets surprisingly calm. of jpwith us, ben mandel morgan asset management. the steepest declines since the financi

shery: banker santander has rattled the bond market for bank debt.ent came right on the deadline for the decision after santander kept investors in the dark for weeks. it may drive up costs and could tempt other lenders to follow suit. haidi: we are about to hand over to "bloomberg markets: asia." we are seeing another day of robust gains for japanese stocks. also, the kospi seeing gains of .4% despite broad data when it comes to ppi from japan as well as soaring jobless numbers out of korea. futures looking higher. take a look at futures trading at the moment. we have seen more optimism that the economy is in a good place. we are hearing from esther george that this is a very different economy. really repeating some of the comments we have seen from the cleveland fed president, loretta mester, as well as chair jay powell. that is it from "daybreak asia." our markets coverage continues. this is bloomberg. ♪ rishaad: it is 9 a.m. in hong kong and shanghai. welcome to bloomberg markets: china open. yvonne: japan leads markets higher amid optimism about

venezuelans and venezuela's national guardsmen led to two humanitarian aid trucks catching fire on the santander bridge. desperate venezuelans were seen salvaging as much of the food and medicine as they could from the burning trucks. president nicolas maduro ordered security forces to block the needed aid, leading to violent clashes where guardsmen launched tear gas canisters. at least two protesters died and at least 300 injured. it's unknown how much aid actually made its way into venezuela. opposition leader juan guaido, recognized by the united states and 50 other nations, urged venezuela's military troops to turn on president maduro and join the opposition. [speaking spanish] >> translator: you do not owe him loyalty, men of the armed forces, someone who burns food in front of hungry people. we saw a man burn medicine in front of sick people. how many of you national guards have sycamores? how many of you -- sick mothers, children in schools with no food? >> reporter: this video shows guaido with venezuelan soldiers. it was a tale of two competing messages yesterday. maduro says venezuela

matt: on that note, did the santander decision not to pull the trigger control you -- concern you?to the last minute. you are not guaranteed to be called. you don't get days attractive , you get them for deep subordination and structure. exactly what they did thinking on their shareholder rather than the baumholder. cheap, but the great thing is they are contractual. unless the bank is going bust virtually. attentionbring your to a chart that is going on here. i don't even have a segway for this. it is another industry group i want to ask you about. we can see the metals and yellow, the miners in white. this is year to date normalized returns. the reason hillary put this chart together is the mliv blog is asking a question about the two. which has more room to run in 2019. i know that you don't invest currently in this sector, but you and i were talking about the mliv weston of the day. >> it is very kind of you. the miners have deleverage. we saw that after a near-death experience from most of the second are in 2015, 26 dean, much less debt, much more cautious. still very strong d

. >> i am looking at cocoa bonds today because today is a critical day where santander has had to exercisestors are waiting on whether they will make their decision. it isa test case because the first one where they are unsure of whether or not they will make this call since these coco bonds have been around, these risky bonds. watch today.coco dani: she's got the risky bonds, i've got the safe bonds. record inflow into long-duration bond bets, which is crazy because all of the start of this year, we had this massive risk on rally. even so, this is an etf tracking long-duration bonds. market cap, reaching a record. nearly $11 billion since the start of the year, 2.3 billion in investor inflows have come on into this fund. we are looking at this market being pulled two ways. stop saying everything looks great, bond markers saying investors are preparing for doomsday. matt: i love that chart. i am going to say for me, you are the winner. bonds are fascinating, convertible bonds interesting, but the etf -- em story is really one that a lot of people will be talking about today. making a decis

santander is in the hot seat.on it's a proxy. >> it's a poor proxy because you bring up npl's. is mpl situation in italy significantly improved. look at the npl's, they barely moved at all. this is the point i'm trying to make. there are aspects which impact the bank's fundamentals. this uncertainty means lower rates for longer. that delayed interest-rate normalization and that's generally not good. that the banks are not can you be able to grow because of uncertainty, this is not good, but npl's are down. costs are down and fees are up. earnings are maintained at acceptable levels. growing at a slow rate. caroline: that was david herro of herro associates. in a bezel -- we will hear from representative next. this is bloomberg. ♪ s bloomberg. ♪ caroline: lawmakers have brokered a deal on border security. it's now up to the president to see if it is good enough to avoid a shutdown. the president said while he is not happy with the proposal, he may back it. let's get with kevin cirilli standing by with a member of c

santander, the, list keeps on going. >> some of this is normal for this time of year.seeing a number of , notcial firms cut jobs just at the medium levels. state street cutting at the senior level. some of it is automation. where financial services are cutting costs, places where they can replace people with automation. got $21he banks overall cuts, but they are laying people off. yesterday, goldman looking at cutting back in their currencies business, long a mainstay. this would be a fundamental transformation for the bank. >> it's also interesting because we are seeing a bit of the changing of the guard there at goldman in terms of david solomon taking over for lloyd blankfein. to haveankfein appeared protected the fixed income unit for a while. maybe david solomon is coming and saying we are looking across the board and i am looking at andcuts in fixed income commodities. bob diamond once ran barclays, then went to an african bank to help that company. focus on otherr executive roles. we saw a lot ago, of reports and people moving into africa thinking it would take

santander is in the hot seat today with its convertible bonds. there's a reason why it is a proxy. is a poor proxy. hasnpl situation in italy significantly improved over the last 2-3 years. if you look at the quality of bnp -- those npl's have barely moved. whichare aspects to this impact the bank's fundamentals. this uncertainty means lower rates for longer. if you raise interest rate normalization, this is not good. the banks aren't going to be able to grow because of uncertainty, this is not good. but npl's are down cost, these are up -- fees are up. they are not voting like we'd hoped, but they are still growing, albeit at a slower rate. david: if you have negative interest rates, that's not helping the banks over there. it was thought that the ecb may be moving toward normalization. what is your time horizon for when this has to turnaround to make it worth your while? david: there was the belief that there would be normalization starting sometime last year. it looks like it might not start this year. as it economy picks up holds together in europe and the european economy is m

the announcement came on the deadline for a decision after santander kept investors in the dark for weeksis all down to optimism over u.s.-china trade talks. we've also had the new zealand dollar surging after the central bank hinted at a less dovish policy than expected. we do have the same tentative signs the deal among american lawmakers to avert a government shutdown is gaining traction in donald trump's mind. yvonne: once again, risk on. we heard reports saying president xi jinping maybe joining the table for the talks in beijing and meeting with robert lighthizer. that will be interesting to see how that plays out on friday if it happens. checking commodities, we are seeing oil continue to extend gains, given these opec supply cuts materializing more. goldman sachs keeping their bullish car for 67.50 for crude. ore, down another 30 day for singapore futures, though easing off the decline we saw a earlier. the localome concern mills in china are keeping cool heads about the impact. rishaad: 40 million tons is the figure, the damage has been 43 million tons, a lot of iron ore. we are

. >> cada dÍa muchos venezolanos cruzan la frontera buscando educaciÓn y ayuda, en el norte de santandercil porque tienes que ir caminando y la congestiÓn, llegas al puente hay mucha congestiÓn, tienes que esperar que pasen unos 15 minutos que la guardia venezolana te de el permiso de pasar. >> pasan desapercibidos y siguen su camino hacia la escuela donde finalmente se sienten seguros. >> un poquito mÁs de mil , 600 son venezolanos ellos los aceptan, se pueden escribir, pero no pueden entrar en el programa de alimentaciÓn escolar, nosotros poco a poco, hemos ido ademÁs miedo la alimentaciÓn de ellos. >> por este puente, hay unos 35 mil venezolanos que buscando lo mÍnimo para sobrevivir. >> le damos gracias a dios que por lo menos nuestros hijo comen, asÍ durmamos en el piso, nuestros hijos comen ahora que ahora en venezuela no se puede hacer. >> piden a nicolÁs maduro que permita la entrada de la ayuda humanitaria a venezuela. >> a veces uno no tiene quÉ comer. (lloran) marÍa alejandra salas noticias telemundo. >> ahora le informo que una comunidad de guatemala se tiÑÓ de sangre, despuÉ

. >>> estamos a escasos metros del puente santander y este es el ambiente que se vive hoy tras cuatro bolÍvar en el fuerte san antonio . >>> la mayorÍa de los comercios estÁn cerrados, en horas de la maÑana hubo un grupo de personas que se acercaron p y poder trasladarse a colombia porque aquÍ trabajan e incluso a algunos niÑos estudian pero, no se les ha permitido porque no hay orden de nicolÁs maduro a que se haga la reapertura de estos dos puentes y estos po pobladores exigen la apertura de los puentes y exigen por sup supuesto que sea definitivo el paso de la ayuda humanitaria propuesta por el residente interino juan guaidÓ. se vive un ambiente tenso en la poblaciÓn de simÓn bolÍvar. cada media hora la guardia nacional reprime a quienes se atreven a manifestar por la apertura del puente y por el gobierno de nicolÁs maduro . >>> joaquÍn chapo guzmÁn ha contratado un cuarto abogado para que se una al equipo legal en su defensa unta >>> es experto en apelaciones y su colaboraciÓn viene justo despuÉs de que se conociera que el jurado lo encontrÓ culpable habrÍa roto las reglas impuest