which is quite a funny name considering he's saving the bank or charged with saving the bank but not saving jobs of course this is this is a serious move that he's making every 5th 800000 jobs and we're talking. every way europe the u.s. the london office the new york office is going to be decimated also jobs brought across asia from sydney to hong kong and stuff of already being seen leaving offices with envelopes under their arms in sydney in hong kong one trader in equities trade is that it's a pretty gloomy scene there being hold in the restructuring was only announced on sunday and they're already being hauled into the office given a couple rounds with given a package and you're out food costs and all said what's it going to cost well exactly these redundancies these packages these these bankers are getting a going to be quite big and all in all the restructuring could cost $7.00 and a half 1000000000 euros it's estimated that's a huge amount of money and i'm a. one thing is scaling back the investment which is going to cost a lot no sympathy from banking

7400000000 euros and hopes it will return the company back to the top tier of banking many experts say it may be the last chance to save the bank. let's get this from v.w. cd of business and to ben. barely a month seems to go by without moral bad news from door to bank what's gone wrong this time everything basically costs are too high we've had one restructuring of the next. none of them have been serious we've had one scandal after the next and that's because the bank heaps and heaps of money they've been job cuts constantly you see the latest c.e.o. christiane saving who's meant to save the bank says this is going to be a restock as opposed to the incremental changes that we've seen at the bank. and the main thing is getting back the investment. that is a huge change and will be one of the biggest overhauls all the investment banks since the financial crisis and this is going to cost presumably oh yeah we're talking about 7 and a half 1000000000 euros well i hate of redundancy packages we've already seen people leave their sydney offices other asian hubs i mean this was just announced yesterday and people are being

like spain's banco santander there which must know the eagle battle in germany against carson savings banks involving their hue of red but back to me via. the company behind the brand bio stoff has been in a decade long dispute with you know a lever over its blue. among the legal issues are whether a color alone can be a brand or only in association with say a logo or a name neither company wanted to talk to us about the proceedings. since new year's seeks to promote wellbeing it probably doesn't want customers whether at its flagship store or around the world to be thinking about legal conflicts when they see the blue at the heart of the dispute. just pick a different blue the internet has made copy illegally even easier you can be a curse for professional photographers especially because this kind of copyright infringement can be difficult to trace and even more difficult to enforce but when it's not a free of charge help yourself or you can eat smallest board again there are laws so watch out. company hunts down picture thieves. several 1000000000 images are posted to the web every day i

7400000000 euros and hopes it will return the company back to the top tier of banking many experts say it may be the last chance to save the bank as well as it i'm now joined by hall's telestial he's a banking expert at the frankfurt school of finance and also in frankfurt our financial correspondent only bonsa standing by when he was start with you what's been the reaction in the markets today. it's been a very mixed reaction 1st reaction was positive the share when shooting up 34 percent way better than most other equities here and then turned around and below the 0 line and it's now losing about 3 to 4 percent and i think investors impressed and a lot are positive that finally this overhaul is taking place many people have called for more drastic cuts job cuts and also to bring the cost down overall but also it's apparent vestment banking which many saw as carrying too much risk in the end in the last few years fielding too little profits but there are also those who are of course skeptical that the bank will have the insurance the time to sit this out while this happens it's going to be a painful process and some s

7400000000 euros and hopes it will return the company back to the top tier of banking many experts say it may be the last chance to save the bank. there are growing fears that germany is failing to respond quickly enough to a resurgence of right wing extremist violence politician felt and shot dead at his home by suspected extremists last month this weekend saw a far right music festival take place in central germany activists say the politicians killing fueled opposition to the event. in the small town of tame are in the central german state of turin 2 worlds collide albion strictly separated by barriers and police like every year right wing streamers have organized a festival here but to reach it concert goers 1st have to walk the golf night past a mars residence their mission we don't want them to come to tame. ever again we are against right wing extremism for democracy people don't want this anymore they don't want this constant fascist carnival my doorstep but also today is a very good day for us with. around 900 rightwing supporters have made their way to tame our. catarina county poise has been keeping tabs on

7400000000 euros and hopes it will return the company back to the top tier of banking many experts say it may be the last chance to save the bank. it is one of the most famous paintings in the world rembrandt's nightwatch depicting a 17th century civil militia now at the work is undergoing what's being called a live restoration and it's hoping i'm saddam's right museum visitors will be able to watch the process as it happens. the night watch is one of the world's most closely studied paintings it's no secret that rembrandt put himself in it and experts agree the golden girl in the middle bears the resemblance to his wife saskia but what other secrets does the work still hide. days america. this for us and spanish give us some answers west scanning the whole image bit by bit to find out what synods elementis i found out for example it can tell us about the painter rembrandt use and how he used it. that that intention slight on his working methods. from the how to who sits in the scanner also reveals the many changes that have been made over the last 4 centuries to the nearly 400 kilogram canvas 20 researchers carry out

7400000000 euros and hopes it will return the company back to the top tier of banking many experts say it may be the last chance to save the bank or greek conservative party leader gerry jaco's talkies has been sworn in as the country's new prime minister his new democracy party won a landslide victory in sunday's snap election taking almost 40 percent of the vote he's pledged to cut taxes attract investment and create more jobs so talkies replaces the left wing leader alexis tsipras all reporter travel to the greek island of again where expectations for the new government are high after years of economic hardship. fishing around on an island just off the coast of africa it's. still darrius runs the boat with his father he's the thought generation of his family to make his living on the water. today he's taken his friend your boss have passed along for company and on the nursing home. we cut a lot of people on there see the job was fishing or on this they are now nobody at my age or a little bit more of a god they don't stay as not very good because we have islands that a lot of tourists come to see our islands and wha

finally after a mooted merger with germany's number 2 comets bank failed to offer any hope of recovery through synergies current c.e.o. christian saving decided it was time to cut dortch of bank back down to a more modest size. and moving out of europe the game farming industry in south africa has 4 pillars live auctions of game trophy hunting eco tourism and animal products the whole sector is now worth around one and a half $1000000000.00 a year almost half of which comes from that trophy hunting pillar and what critics call the practice crawl and unethical many locals depend on the income and insist they're doing business in a sustainable fashion. but less than 30 minutes until nightfall south african professional hunter tony de braun and his american clients are looking for a golden will to beast if ill kloppenburg succeeds in killing the animal he will paid professional hunter 6 $1500.00 for it. is one of the estimated $8600.00 trophy hunters who visit south africa each year. having in south africa has made more variety of animals much different than what we have in this united states so it's a much different style of hiding in t

for elections, the market would start to worry the royal bank of scotland would soon become the savings bankis a real risk. that is a concern one would have about this type of government. we are talking about a u.k. returning to pre-thatcher economic policy. guy: i'm hearing more of that over the last 24 hours. fascinating. we will leave it there. barrington did miller joining us from janice henderson. we are wrapping up in europe. we are through the auction process. we have seen a downdraft when it comes to european markets. a little one. a little dip during that. the german market taking it on the chin. we did see a big turnaround in the banking sector, but it was the auto sector that was a drag. you probably want to get more analysis under your belt -- you can do so even if you're getting in the car and driving home. the cable show with jonathan ferro in new york. i will be joining him in london. we'll be taking to the air at the top of the hour. you can find us on dab digital radio in the london area and all of your bloomberg devices. ♪ vonnie: live from new york, i am vonnie quinn. guy:

it into the consolidating in 1929, 1930, and it became consolidated savings bank. but bank had people getting homes because they were lending money to black people when other people would not. so it's important to understand, we have a desk made economic progress, but economic envy is we'll -- real. tulsa, oklahoma was about economic envy. the melanin deficient will tell you that tulsa was about a young shoeshine guy, raped or assaulted sarah page, a 17-year- old elevator operator, not, dr. olivia hooker died, she was something else, she was 6 when it happened, she remembers hiding under her table, lots of white people come in, this memory of the folks who were so envious. broke her muscle -- mother's rigor, burned close, just evil, because black people had too much. when the oklahoma governor later asked for a commission to investigate it, nobody went to jail, a black physician came out of his house and they shot him and killed him. we don't know how many people were killed, some say 300, some say 600, we know that blocks were eviscerated and millions of dollars w

and i were having an interesting conversation with traders, some are suggesting the central bank state can save erik: central banks do run out of ammunition. but it is an illusion to think they have no more power. there are political restraints on how much you can do, but that moves with the crisis. more importantly, how effective are the instruments? what you are seeing now in negative territory and the tltro's, even spain has negative lending growth. i think they have heard what howland draghi said, they are sounding more dovish than the forecast. the reason is they are late cycle and uncertain about trade. anna: their view of the world being challenged in a number of ways. can the central bank save us, mark? mark: no, they cannot. and we saw this before in the last two cycles. the fed was positive -- powerless to cut the recession. liquidity is not the problem, the problem is a complete lack of growth. i think that central banks are kind of powerless, is the issue. i think that is what christine lagarde might be an interesting thing. she will be out of the box and is not a conventional econo

it the impulse said i don't need as young and you know you analogy then through the daylight saving mr banks and. spit on the bill and then maybe some money that if it is the cent that of them which it employs to was put. on the assembly then like that i want to find out in the u.s. units here that it's been far better. for sars and i know about. am. i right. medicine and then i doubt it would hold up it's not addictive when i've been sick for a little of that he wants to buy in for them and those numbers i must. admit that i don't you know almost nothing and i know i'm not and i've. got. a lot of manas where's the but i meant a lot of modest. need on that day i don't know who on a scale yeah but i meant to say oregon is. like that i wanna know is a was that in the know meet as you don't want to like them and let them impose on my dom is out of their. mind they're. still thinking i don't have to go into no it's people who are full of kind of when i say well that's when i want out of india and i yeah and so this thing with the ok years down life he. can go out and. to me and. to me and from s

a savings bank ended up consolidating in 1929, 1930, and became consolidated savings bank. that bank thrived in hundreds of not thousands of people in richmond in the 1920's got their homes because consolidated was lending money to black people when other people would not. it's important to understand, we have made economic progress but then people jump up in our faces and take our stuff. economic envy israel real. tulsa, oklahoma was about economic envy. the story some people will tell you, the melon deficient will tell you tulsa was about a young shoeshine guy, 19, raped or assaulted sarah page, 17-year-old elevator operator. dr. olivia hooker died not too long ago and dr. hooker was six when it happened. she remembers it. she remembers hiding under the table at her home, the tablecloth hiding she and her siblings. watched the white people come in, vivid memory of folks who were so envious, broke her mother's caruso records, took a next to the piano, burnt her doll's close, just people because black people had too much. when the oklahoma governor later asked for a commiss

again is it simply said i don't meet as young as you know you are now even through the day i was saving mr banks and this is. spent on the film and then maybe some money that if it is the cent that of them which it employs to was put. on the assembly then like that i now find out in the u.s. units here that it's better. that kept me. from one of those program. stars. am. i right. i am a little. i know. about 10 minutes on a day in my yard and. there's not a big game going to be put a needle in a cent he wants to stamp it among those numbers on. that one you know almost nothing of. that one and i've. got. ramona's wears a but i meant a lot of modest. been on that thread. who i know. from what i meant to say oregon these. like that i wanna know is a well known meat as you don't want to like them and let them that was on my dime is out of them. in a special meaning i don't have to go in to know if people want full of can of when i said without when i when i was in d.m. i yeah it was this thing with the ok years down life the only one for alcohol and i but there i. am. as. me. me and to not see thes

savings alliance. we have commissioned my bank to deliver these workshops. 0ur main objection is to try and build positivemoney worries way to secondary school? many people think that learning to handle money is something that you should be taught by your parents, but as we know, people's parents do different things, and by integrating it into the primary education, the fact is all children get it. there was some research by the money advice service, and they agreed that money habits happen to form from age seven, so we all know there are a lot of adults struggle to manage their money. if we don't get started atan their money. if we don't get started at an early age, the danger is we could develop bad habits. this is what this is all about. do teachers really have the space to act another subject into the national curriculum? i would say that managing money is something we all need to do throughout our life. i think it's really crucial to get it embedded in primary education. primary education tends to be quite topic —based, so you can do things where you could integrate financial numeracy. you can look a

says he's in charge of saving the bank and what it was set up for 150 years ago was to facilitate european trade what it tried to do was rival the investment banks of new york it didn't stand a chance which american company would want to do business with a german bank in the united states and likewise german companies also wanted u.s. banks to operate in the u.s. one customer did manage to get was trump and a whole lot of business with him but a whole lot of loans that were never repaid and that's caused a scandal at the bank one person tweeted this morning that if trump wants to repay all of his loans bank you wouldn't have to make any of these job cuts. you know just to be addressing stuff shareholders like then use its share prices up this morning. because these are not incremental changes this is a major overhaul a radical one as you say it ok so you have more of that coming up in about 10 minutes we're in business news meant visiting senior business editor thank you. the united states have defended their title in the women's world cup by defeating the netherlands 2 nil make enough you

be a relatively small part of the economy and their task was to distribute unused assets like a bank savings to productive activity buying our way to. money. on the back of the reserve bank. to be highly providing any. money. to the community by making. money for a manufacturer or on going. to a remodel are going to money on a why people are always needing more and i haven't. mediately available. that's a contribution to the economy. regulatory system was established banks were regulated the commercial investment banks were separated cut back or risk investment practices that could harm private people. there had been remember no financial crashes during the period of regulation by the 1970 s. that changed. the story getting that huge increase in the flows of speculative capital just astronomically increased and enormous changes in the financial sector from traditional banks to risky investments. complex financial instruments money manipulations and so on increasingly the business of the country isn't production at least not here. the primary business here is business. you can even see it in

banks. can massive restructuring save deutsche bank?t after this. >>> plus an iconic piece of nike history. running away with the world record we'll bring you a pair of sneaker headlines coming up on "wlddexcng orwi ehae. take prilosec otc and take control of heartburn. so you don't have to stash antacids here... here... or, here. kick your antacid habit with prilosec otc. one pill a day, 24 hours, zero heartburn. with sofi, get your credit cards right- by consolidating your credit card debt into one monthly payment. and get your interest rate right. so you can save big. get a no-fee personal loan up to $100k. they use stamps.com all the services of the post office only cheaper get a 4-week trial plus postage and a digital scale go to stamps.com/tv and never go to the post office again. >>> let's check in on other stocks on the move shares of deutsche bank trading down 4% in frankfurt trading today. the company reporting a 3$3.5 billion loss in the second quarter. that's worse than expected results were hurt by major costs for restructu

in germany dodger bank has announced cuts worth 7400000000 euros for the erstwhile flagship of germany's financial industry 18000 staff will lose their jobs as c.e.o. has done saving closes down the bank's loss making equities trading business and france's bond and rates trading operations significantly. investment bankers were the 1st to go entire teams are given the sack on monday from sydney to london. and could concentrate hard in this sector for years but to no avail this year it's not going up yet another round of losses for the 4th time in 5 years the restructuring measures announced on sunday are aimed at freeing up the remaining divisions of the bank it's turning its back on its ailing international business and focusing on the domestic market. we've been planning for quite some time that after achieving stabilisation last year cleaning up the balance sheet having costs under control now we want to take the next step and that's to align the bank with its strengths and that's what we have pleased to announce today that the. bank was devastated by the global financial crisis and the share price is yet to recover legal disputes compounded voices problems the

and a consulting business for example christiane saving the c.e.o. of bank is likely to want to make sure that the market perceives the overhaul he's now planning not to be too little too late of course now everyone in the markets and here in frankfurt in particular is expecting next sunday when we will probably get the details of the plan call and stay where you are because you know executives in germany are dropping like flies today the c.e.o. of b.m.w. how about will also leave his position when his current term runs out in april the company plans to talk about a successor supervisory board meeting later this month has been at the steering wheel of b.m.w. since 2015 the company has slashed profit expectations citing the growing cost of meeting higher emission standards and large investments in new technologies google has been criticized for b.m.w. slow shifts towards electric mobility. now back to contribution what does that mean for b.m.w. . well mr tips the man who is going to be the successor of mr cooper has a reputation of being tough then mr kluger

bank is announcing a major overhaul to boost profits. they're cutting 18,000 jobs as they lead global equity sales and trading. they plan to reduce their fixed income business. the moves are aimed at saving9 billion over the next several years. the restructuring comes just days after deutsche's investment bank head garth richie agreed to resign. cheryl: boeing lost a deal for its 737 max jet to its european arch rival. up to 50 jets will be purchased from airbus. the deal was valued at more than $5.5 billion. it never happened, obviously. the setback for boeing follows the fatal crashes of two max jets within five months. wall street journal says the lost business is one of the first signs that the 737 max crisis could shift even more business over to airbus. tracee: spider-man swings to the top spot of the box office this weekend. >> everywhere i go, i see his face. i miss him. >> yeah, i miss him too. >> i don't think tony who have done what he did if he didn't know you were going to be here after he was gone. tracee: spider-man riding his avenger pal's coat tails this weekend, grossing $185 million in the u.s. and canada. spiderman has been cleaning up worldwide. it has surpassed 580.

this the big push that will get this bank back on track i think it's been a busy day in frankfurt today they defused a world war 2 bomb and i think christiane saving the c.e.o. of the bank has also had to diffuse something of this bank yes i think this is the big push after many years of of to ing and fro ing and trying to do i think this looks like a very very deep restructuring plan ok talking about this restructuring and the man of the top of all of this who's really been leading it. what is he hoping to achieve with this restructuring well he's been in office now for 15 months which isn't very long he's tried a couple of things we had a merger with come out spying quite sure which didn't take off and so he's trying to focus now on the core business of core strengths and it's basically just trying to bring everything back and strip out all the stuff that they've been doing which you brought any value right i mean if it were talking about germany's biggest bank you how did it get to this point well i mean this is 150 years nearly 150 years old it's synonymous with stability in germany what happened was hubris really for the last 3 decades or so

bank and the restructuring there. a huge revamp, from cutting about 1/5 of its workforce, restructuring its business. is this enough to save the bank? gina: it's a good question. analysts are naturally going to be quite skeptical. this is years of attempted changes at deutsche's. there was a failed merger earlier this year. the long term outlook is slower roe growth than the rest of the sector, even with changes. i think analysts are naturally skeptical. what are we going to get out of this? how far is it going to go? is searching for guilt, so cutting the dividend is also going to cut the outlook for this group that is still pretty depressed, so there's not a lot to be excited about. i think you have to see these changes implemented and see real results before analysts get on board. david: they had no choice. they had to do something pretty dramatic, it was clear. the question is, will they make more money doing this? they will save money, but will they make more money? think about it, this is back to boring banking. it is taking deposits and providing customer service. that is where deutsche bank is going. is it highly p

this is one of the structural issues 82% of savings in europe is in a bank account china, almost all nk account when you stimulate the economy through monetary policy, it's not impacting the majority of people so fiscal policy through a tax reduction, some time type of redistribution of infrastructure by creating jobs that way, that will lift more people in the economy. i think this is one of the structural issues we'll have to live with. i think this is why europe has not been able to get out of its problems it's been way too reliant on monetary policy. when 82% of savings is in a bank, they have negative return now. do you think that will stimulate more consumption >> we have not done infrastructure here. so the fiscal policy -- >> we're not going to any time soon >> the ones that paid off were the former of what you talked about, tax reductions and things >> right >> that is one of the reasons why income inequality here has gotten worse over the past 10, 15 years -- there are 401(k)s here some people participate. >> what is our savings if europe is 82%, china is everything -- >> 82

bailout in late 2007, remember when they banned short selling banks and tried to save all the banks? they went down 80%, 90% from there, from there, and i that were already down 50%, 60% this could be the beginning of a really tough period, and give me the upside i mean, somebody give me an upside reason to get excited >> mark, it's karen. let me throw out one even though i'm somewhat bearish china trade deal right? that is a case for the upside. what's your thoughts on whether that happens and if it does, what does that mean for the market >> two things. one i think the china trade deal has been priced in four times already. i think it's buy the room or sell the news. i think the second problem is there will be no china trade deal i was with a guy who runs the china beige book, and -- at a conference a couple of weeks ago. we were speaking together. he said, look, two months ago there was a deal that china would sign, and trump backed away, and he said there is no deal that the u.s. can put in front of china that they will sign today because they're going to make him admit wrongdoin

the wisdom of not but it's certain that investment banking has been costing a lot of money more than it's generating and that c.e.o. christian saving identifying here a main problem for the bank that he wants to see fixed in frankfurt for us thank you very much. eurozone finance ministers have welcomed croatia's application to join the county bloc calling the move a sign of confidence in the single currency the ministers say the measures that has taken in banking supervision governance and other key respects show its determination to be part of the euro family crisis or seeking to join a voluntary framework known as the exchange rate mechanism in which countries that wish to join the euro keep their currency fluctuations within the bounds of their application is reviewed. and just finally sustainability is one of the chief concerns of many germans ikea wants to do with spot that's why customers in germany can now return they used furniture to ikea stores for resale of course it will be resold at a lower price in special secondhand departments ikea says it hopes the move will help lower its carbon footprint in its test phase the tra

me to save them back in the east bank basically ready to explode because does not know if you know my kid so what did you do when you couldn't export to china oh i keep on buying we buy and we buy you but you see the money thing this is because you couldn't sense of time oh yeah so i can relate. in 2017 china announced that it no longer wanted to be the world's largest rubbish bin and that they would stop in porting used plastic from january 28th. this decision to the collapse at the recycled plastic market or precarious business and an economy that rests entirely on the backs of the most vulnerable. back at the coca-cola headquarters we speak to michael goldsman the vice president of the company again. so that it will pick up because it messed up the u.s. . it says. so if. there's a down does that mean we don't resent that. we. give you. city measure. sun no. care. no as you would expect this. day. the misa. blessed. yeah. yeah yeah. sure sure sure see. they do those he was at the. city north. to. see. them going called fail meant a nose will be. deceived routine and it. only on trun

revenues are not enough to cover all the needs of the public, which moves the central bank to use other resources or other savings to cover the deficit. so, that allegation is not true. >> there is this rival central bank as well in the east. what funds does it control? and what kind of impact does it have on you and your job in tripoli? >> the central bank in the east, the perilous bank invader, doesn't have its own sources. but they have expenditures. the total expenditures exceed 43 billion through the past years. that, of course, obstructs the progress of the country, the development. it increases the deficit and disrupts us with regard to liquidity. they also printed money in russia, and all of that. -- all of that contributes to the economic situation in libya. >> the united states, for years, used to support tripoli a -- unequivocally. we have seen that. but, we have seen them go a little bit silent. have you lost trust in washington? >> of course not. we still deal with the central bank, with the americans. the embassy of the united states. i do not think we lost trust in them. probably some changes in th

if the fed printed $4 trillion out of thin air to save banks, why not make them print $4 trillion to are trying to think of innovative ways to spend more. brian: need a wheel barrel to actually equal a dollar. steve: like venezuela. brian: andrew sitting on the window side, there you go. what's your question for the geniuses playing outside left and outside right. >> margaret thatcher said the problem with socialism you eventually run out of other people's money. the question is how long do you think it would take if we enenacted these socialist programs for this country to go bankrupt and look like venezuela? >> stuart: stupidity my to put a number of yearvenezuela?st me to put a number of years? i can't do that you are absolutely right going in that direction. if you start borrowing all this money -- they would have to borrow trillions upon trillions of dollars. you are going to really mess up our entire structure of financing government. you would mess it up completely. i don't know about going bankrupt ultimately. i don't know about that. a real mess. >> charles: you bring up som

day, i would put savings in the bank. no interest. we are losing you a little bit. sorry about that. the house is coming in momentarily. back to the act, it is past the house. it is said to be taken in by the senate. your thinking is it will pass? guest: i think the odds are there. everything we hear is that there is a lot of support for it. it is very bipartisan. host: john scott, pew charitable trusts. thank you for being here this morning. the house is coming in next. the speaker pro tempore: the hill be er. thchair lbeforee ho communatn from th akerthe clkthe speaker, shin, july 19. elr ct speakr ble empo othis day. signed, ncy pelosi,peer ofthhous represens. the peak tempore: nt t theerf e usef jaary 39, e chair wi nrecoe members froists smied b he mory an mority lead fr rninhour recognitnetweth pes. time shall equally llteetweheartie and innovent sh coin bend 1.m. eambr other than majorind minority leads live m.hil be e chairrecoizes t gelema from texa mr. green, fiveinut. yo mr. n: spr. ill i re, mrspeaker, an ristodayecause le mycoy an reod uerstanda ocs. wh

that's why we designed savings and ecking accounts .with no fees or minimums this is banking reimaginedhat's why we designed savings and ecking accounts what's in your wallet? (chis not just hurting you.ng if you can't make up your mind to quit for yourself, do it for those who love you. (a ouncer) for free help, call 1-800-quit now. z3d2uz z16fz y3d2uy y16fy >>> we're back now with a new warning for consumers. scammers claiming to be calling from the irs or social security demanding money, and it's happening at record levels. tom costello tonight on what to watch for. >> reporter: the scam often starts with a robo call. >> we have received sis suspicious trails of information in your name. >> reporter: when julianne stafford itgoogled the number, came back at social security, so she called. the person on the other end already knew aer social security number address, then said fraudulent bank accous had been opened in her name. >> you're so scared in moment that they're saying you're going to go to federal prison. you're like oh, my god, no, how do i stop this from happening? i will tel

and then, third, call your bank savings and loan or credit union and find out what they would chargeou for the money to buy a new car. atn,ouo to the l that dealership and you know the final figure, what that needs to be. now you don't care if the dealership gives you a little bit less for your car if they make their car worth a little less. anything as long as it works >>> have you seen the devastation in new orleans? already flooding from what is just now an area of low pressure. the winds are starting to pick up at about 30 miles per hour as it moves to the west. here's a look at the spaghetti plot. the models are getting consistent with bringing up the swollen mississippi river which can't handle anymore water. we'll have devastating flooding from that system. even if it never becomes a hurricane. back at home, triple digits in for fresno and palm springs. upper 60s along the coast. low to mid 90s in the sierra with low to mid 80s holding through saturday, low 80s sunday around tahoe. natasha? >>> this morning, families involved in a botched ivf procedure are suing their fertilit

piggy bank: my savings are lost. but you can put money aside and plan for unexpected disaster costs. wedding photo: we're lost forever. but you can scan important documents now, so they survive. whoa! narrator: for more tips on how to prepare visit ready.gov david: new jersey state attorney general, democrat, gray wall sent letters to two republican sheriffs claiming they violated his order to limit cooperation between local law enforcement and i.c.e. this year, gray wall began a new direct testifive. which by way, also happens to be a crime. >> president trump wants to speed upping wel legal process r illegal immigrants seeking asylum. before, i.c.e. officers had to wait 48 hours before they could talk to those, they cut wait time to a single calendar day. a spokesperson sending us a statement, reading in part: david: joining me now, homeland security reporter for washington examiner, anna garateli, thank you, let's talk about those numbers. we understand that this time of year there is usually a slowdown because of

banking? that's the only thing that's going to save anybody. alix: deutsche bank also -- lisag macro research abramowicz and michael mckee, thanks a lot. we did get a trump to eat talking about -- tweet talking about trade. negotiated oring being set up for negotiation. we've been treated unfairly by other countries, but that's changing. a deal could be coming. a big week for the fed. jay powell heading to the hill with fed cuts and play. -- in play. we are recapping breaking news from this morning. virgin galactic will become the first space tourism company to go public. a stake will be sold to a shell company, allowing virgin galactic to go public without an ipo. richard branson himself will be joining bloomberg markets at 10:30 a.m. eastern time. this is bloomberg. ♪ >> this is "bloomberg daybreak." richard branson's virgin galactic will become the first space tourism company to go public. a stake in virgin galactic will be sold to a shell company that already trades on the new york stock exchange. social capital lp. that deal will allow bran