we will speak to the ceo, jes staley, next.is bloomberg. ♪ ♪ matt: welcome back to "bloomberg markets: european open." we are just about 40 minutes away from the start of cash trading. not a lot of indication in terms of futures. we are not seeing very much happen right now but maybe it will move a little bit as we get closer to the kickoff here. we have had a lot good earnings news out of especially banks. barclays i think's shines here. it has announced a 700 million pound share buyback. the british lender's fourth-quarter results beat estimates thanks to strong results from its investment banking unit. the division is a key part of jes staley's strategy. we are joined now by jes to talk more about these earnings. thanks for joining us. let me ask you how trading has kicked off in the first quarter. we are deep into it now. you obviously did well in the last quarter. what does it look like right now? jes: as you know, i cannot speak to the first quarter itself, but let me just make two points. as you noted, the diversified mo

jes staley. if you have your iv, get a question in. your opportunity to join the conversation. a nice wrap up for us this week. as usual, you are driving the bus, changing the gears, looking after the show. annemarie: have a nice weekend. manus: don't break anything. ♪ ♪ matt: good morning. welcome to "bloomberg markets: european open." i am matt miller in berlin. the markets say it is time to weigh the implications of the recent jump in treasury yields for equities and the slump that followed. it's a big day for corporate earnings in europe. the cash trade is less than an hour away. here are your top headlines. credit suisse posts a lower-than-expected loss, a smaller than expected loss. it's a relief to ceo thomas gottstein after the first year in charge. we hear from him shortly. stocks fall as the chinese rally falters. oil rises, though, as the u.s. deep-freeze continues to hurt output. barclays earnings break eminently. we will speak to the bank's ceo, jes staley, plus, the chief executives of nestlÉ, daimler, and airbus. let's t

jes staley — wall street veteran, now boss of barclays — says the post—brexit focus should be global,nancial services, i think what london needs to be focused on is not frankfurt, or not paris — it needs to be focused on new york and singapore. i think that's how you want to drive the financial industry in the uk. it's worth remembering that two thirds of finance jobs are outside london and this hasn't been painless. across the industry, £1 trillion and an estimated 10,000 jobs have left. there has been some rebalancing, some movement of business, and we regret that. we don't want to see things move. but we are where we are, there's plenty more that happens here. let's focus on the strength that we have and let's build for the future. the uk continues to attract the finance companies of that future, but setting up here is not the no—brainer it used to be. brexit has made some look elsewhere. dublin and amsterdam are two places that we know were benefactors - of that specifically. lots actually came to london l to start a business because it's a really great jumping—off point to expand

it is about size, power and the fact that the eu is not really the competition. jes staley, wall streetwhat london needs to focus on is not frankfurt, not paris — it needs to be focused on new york and singapore. i think that is how you want to drive the financial industry in the uk. it is worth remembering that two thirds of finance jobs are outside london and this hasn't been painless. across the industry, £1 trillion and an estimated 10,000 jobs have left. there has been some rebalancing, some movement of business, and we regret that. we don't want to see things move, but we are where we are and there is plenty more that happens here. let's focus on the strength that we have and let's build for the future. the uk continues to attract the finance companies of that future, but setting up here is not the no—brainer it used to be. brexit has made some look elsewhere. dublin and amsterdam are two places that we know are benefactors of that specifically. lots actually came to london to start business because it is a really greatjumping off point to expand into europe, and that close relati

container full of let's not computers or solar panels or anything else that china ships to us so we're staley misery miserably in the in the real world of physical goods but sounds like even the value of american exports has fallen below even the price of trash because i remember 1015 years ago america has to ship its cardboard to china and there is a big business in recycling but of course china shut that down and sun now america has literally nothing the ship to china they're just sending the empty ships back which is really an amazing statistic now tell us about the semi conductor chip shortage that's going on because this is a classic example on so many layers and levels. walk us through it yeah the united states we invented the semiconductor we used to be the you know the major manufacturer semiconductor more than 6070 percent of manufacturing that several decades ago were going to be down to less than 5 percent of global semiconductors manufactured in the united states with the next couple of years semiconductors you know is the new oil it is the brains of behind everything the weapons

the boss of one of the biggest — barclays bossjes staley — has told the bbc that financial jobs haveys the city of london now has a chance to plot a different course— and should focus on competing with asia and the us — rather than the eu. brexit gives the uk the opportunity to define its own agenda. an in defining that agenda. an in defining that agenda around financial surfaces, what frankfurt —— what london needs to focus on is not paris or frankfurt, he needs to focus on singapore and new york and if london can stay competitive with new york and singapore, they could have the equivalence across the atlantic as opposed to across the channel, i think that is how you want to drive the financial industry in the uk.— industry in the uk. when you talk to the — industry in the uk. when you talk to the eu _ industry in the uk. when you talk to the eu there - industry in the uk. when you talk to the eu there is - industry in the uk. when you talk to the eu there is a - industry in the uk. when you | talk to the eu there is a sense of distrust_ talk to the eu there is a sense of distrust t

quarterbacks patrick my home's and legendary tom brady correspondent jay gray was outside of the staley stadium earlier on and sent us this report. this is a guy who really is the undisputed greatest quarterback ball on reason it's 10 super bowl looking for his 7th to win and really that's unparalleled in the sport and really in sports 7 campion ships would just be amazing across the board on the other side you've got patrick mahoney the quarterback for the chiefs who is in his 2nd straight super bowl looking for a 2nd win and many think that he's the heir apparent to tom brady so you've got what could be a passing of the torch here but tom brady says he's not ready to go in fact now saying and he's in his forty's saying he could go to 45 maybe and play football so it will be interesting to see how how this plays out tonight either way i think what we're going to have is a very good football game these are pretty evenly matched teams when you talk to fans what they say is yeah we can't be together we can't gather but but it brings a sense of normalcy and i think a lot of people me that

jes staley said brexit gave the uk a chance to define its own agenda.nd if london can stay competitive with new york and singapore, you know, think of equivalence across the atlantic, as opposed to across the channel, i think that's how you want to drive the financial industry in the uk. almost 12 million people in the uk are vulnerable to future heatwaves and flooding caused by global warming, that's according to a report from a group of more than 140 organisations. campaigners say the elderly and those with underlying health conditions such as heart disease are particularly at risk as charlotte wright reports. myanmar�*s military has arrested another senior figure from aung san suu kyi's national league for democracy party. win tyne was taken from his home in yangon early on friday. he told the bbc he was arrested under sedition laws. several leading civilian politicians including aung san suu kyi have already been detained their whereabouts are unknown. more than three years after the devastating battle to reclaim mosulfrom so—called islamic state, i

patients who first tested positive over the previous 28 days at the total number of deaths under the staleyion programme, as of 8:30am this morning, people had received the first dose of the vaccine, an increase since yesterday. it means we now have given a first dose of vaccine to 28% of the adult population in scotland. we've cements our favourite target to offer the first dose of vaccine to everyone over 70 and to everyone with an extreme clinical vulnerability. let me say, there will be some overlap between these groups but, in total, that is groups one to four on thejcvi priority list. that is good news, however expressing it in the way i have just done understates the scale of the achievements. vaccination hasn't simply been offered to everyone in these categories, almost everyone in these categories, almost everyone in these groups has had the first dose of the vaccine, uptake rates have been exceptional. so, we have administered first dose is to all residents in care homes and more than 90% of residents in all care homes. virtually all of the over 80—year—olds living in the communit