standard chartered's fernando morillo stoppila sunzu to china, where pampering for pets... —— standardampering for pets is increasing, acupuncture and spa visits for their beloved animals. it's going crazy. let's ta ke animals. it's going crazy. let's take a look. lots of pampered pooches in china. looking at the markets now and many have opened in asia, and they seem to be defying wall street's close on friday, where we saw a sea of red. those markets that are open, the nikkei 225 and australia are higher at the moment. let's look at those numbers. the reason being there's a lot of bargain hunting going on because of all this loss we've seen in recent days. that's all for now, thanks for watching —— all the sell—offs. this is bbc news, the top stories this hour: tributes have been paid to the leicester city chairman, and thai businessman vichai srivaddhanaprabha who was among five people killed in a helicopter crash on saturday evening. the far—right candidate, jair bolsonaro, has claimed victory in brazil's presidential election, beating fernando haddad from the left—wing workers‘ pa

that was steve brice from standard chartered private bank. ten yea rs bank.at least, the concept was, a mysterious person going by the fictitious name of satoshi nakamoto outlining how it would work, it is aimed to be a worldwide digital currency that governments and banks can't interfere with, so a decade on, who trades it, and why is bitcoin now valued in the thousands of dollars? let's take a look. hgppy happy birthday, bitcoin. now, before we head to the markets, let's look at what apple is doing because they're shining up some of the lesser—known products, it is adding features like facial recognition to the ipad pro and fast processors to some mac that have gone without updates in years. counting new iphones and apple watchers this year, the company will have more than half a dozen products on shelves for the holiday shopping season “— shelves for the holiday shopping season —— apple watches. so get ready to open those wallets. let's look at those markets now because they're doing well in asia, as you can see, most of the markets have opened considerabl

chief economist for americas and europe at standard chartered. let's turn our attention to a european corporate making news. for says chinese demand handbags and makeup remains strong, extending the luxury industry boom. the company's sales grew 10% in the third quarter in line with , despite aecasts tough base from which to compare. let's talk now to bloomberg's luxury reporter in paris. very good to have you with us. lvmh sells more of the world's oldest brands. how are they still growing by double digits? isn't it phenomenal they have managed to tap into these ongoing scenes of growth? china.ly is the chinese market has been growing fast for luxury brands. it is already accounting for one third of sales. about two thirds of growth. even though you have had talk about a trade war between china and the u.s. concerning luxury that could slow down consumer spending as well as a weaker yen, a weaker chinese yuan, excuse me, the demand has proven to be resilient all year from china. manus: let's talk about the standouts. it was in the fashion divisi

multinational big bank standard chartered is being investigated for breaching sanctions involving iran based customers of its dubai branch the bank may have continued to violate sanctions by processing u.s. dollar transactions for iran controlled entities even after it was fined six hundred sixty two million dollars back in two thousand and twelve for such violations this was before such as on iran were lifted in twenty fifteen as part of the iranian nuclear agreement as a result some say standard chartered may be looking at a one point five billion dollars in fines from us regulators including the department of justice the manhattan district attorney and the new york department of financial services. british prime minister theresa may has received a formal letter of no confidence from five conservative members of parliament and it is said thirty to forty such others have done so privately the public letter is critical of the p.m.'s leadership related to brecht's that some have said ms may is incapable of delivering bricks that it would take forty eight of the current three hundred sev

>> brought to you by standard chartered, one belt, one road, one bank. growing web routes, road, and sea is at the center of strategy. from china to southeast asia, europe, and africa. a huge global project expanding and integrating infrastructure networks, what president xi jinping has called the project of the century. welcome to mombasa. traders have been coming to kenya's oldest city for centuries. the arabs, the portuguese, the british and the indians have all tried their hand at making a fortune here. the latest are the chinese. -- explorestore their grantors and ambitions, asking whether dreams in far off beijing match those on the african continent. i am rishaad salamat. this is "belt and road," china's trade superhighway. mombasa is seen as the gateway to africa. at least five landlocked nations -- including uganda and rwanda, rely on this port to get goods in and out. the mombasa railway is the nation's biggest infrastructure project since independence from britain in 1963. kenya paid $3.8 billion. china arranged the financing and built what is

multinational big bank standard chartered is being investigated for breaching sanctions involving iran based customers of its dubai branch the bank may have continued to violate sanctions by processing u.s. dollar transactions for iran controlled entities even after it was fined six hundred sixty two million dollars back in two thousand and twelve for such violations this was before such as on iran were lifted in twenty fifteen as part of the iranian nuclear agreement as a result some say standard chartered may be looking at a one point five billion.

and standard chartered trading on the fives, up by 4.3%. bill winters apparently has a new plan in the market in anticipation of boosting the stock. vonnie: we are seeing that bounce back today, but it has been a turbulent month. it is coming to an end now. who better to wrap up the month then barry ritholtz. a scary month. we are finishing on a good note so far. what was scariest for you about this month? barry: i do not know. that is an interesting question. i think everybody kind of looks at the day today from the wrong angle. we have a tendency to lose the orlity to put any given week month into the broader context. as an example, last year was a tremendous year. markets of over 20%. volatility. we never know when that is going to end, but typically, you do see some regression to the mean, and if someone said to you, i will give you 20% year one, and next year 0%, you would probably take that on a regular basis. vonnie: i love what you call it, retrospective, you look back with hindsight. reasons you other think we have had a volatile m

multinational big bank standard chartered is being investigated for breaching sanctions involving iran based customers of its dubai branch the bank may have continued to violate sanctions by processing u.s. dollar transactions for iran controlled entities even after it was fined six hundred sixty two million dollars back in two thousand and twelve for such violations this was before such on iran were lifted in twenty fifteen as part of the iranian nuclear agreement as a result some say standard chartered may be looking at a one point five billion dollars in fines from us regulators including the department of justice the manhattan district attorney and the new york department of financial services. british prime minister theresa may has received a formal letter of no confidence from five conservative members of parliament and it is said thirty to forty such others have done so private. the public letter is critical of the p.m.'s leadership related to brecht's that some have said ms may is incapable of delivering bricks that it would take forty eight of the current three hundred sevente

gains standard chartered out with results.he bank topping forecasts with a third quarter profit jump. on hong kong trade earlier, they were up 3%, 4%, but pared back up right now as we speak let's talk about the quarter and haven't volatility and trade fears, joining me is andy h halford. thanks for joining us. >> thank you >> let's talk about th earnings some of the criticisms were on operating costs, which might have been the reason for why stocks pared back a bit off the earnings call. what's the view there in terms of whether you'll meet the full-year targets on costs >> you're right. at the half year there was concern that costs were a bit higher than a normal run rate. people i think remained nervous. what we specifically said then was that in the second half we saw the costs being broadly similar to the first half, we have now come in with lower third quarter costs than in the second quarter in fact lower year-on-year so reaffirmation that we expect to be in line with the first half costs in the second half. i think the

francine: that was the chairman of standard chartered. the vix rising after a muted summer. it has revived tensions for volatility trading. george, is volatility back, and is it the good kind? >> volatility matters for fixed income investors. there are two transfer mechanisms. one is the correlations between markets. volatility has spiked meaningfully. fixed income volatility has also moved up from say 45 to 55, so a material move. the true stress levels are not until you reach 70. fixed income is taking this in rates haven though gone up. implied volatility is still somewhat muted. the other impact is when we look at risk premiums in credit, in corporate credit specifically. lastu look back over the 10 years, you have had 40 specific instances where stock prices have dropped 3% or more in one day, the subsequent five trading days, credit spreads have tended to widen, but it is pretty muted. overall, spreads wider, but not too bad. francine: thank you. we continue the market fallout. this is bloomberg. ♪ ♪ fed is the says the source of th

standard chartered says it continues to cooperate with the investigation.hat is your bloomberg business flash. brazil's presidential race goes to the far right candidate who that 46.3% of the vote in yesterday's election, short of majority needed to win outright. the currency continued its climb on the news. willormer army captain face the candidate from the workers party in round two october 28. , who is justin carrigan an expert on this type of subject. howell markets take the results of the first round? we have seen some brazilian assets -- assets rallying. the market choosing to focus on the more market friendly of his policies. justin: that's right. in the run-up to the we can vote, we saw his lead increasing thehe polls and in fact currency has been the weathervane for brazilian markets and was one of the best performers in emerging markets last week. in what was a bad week for emerging markets generally. now that we have this result which shows he has a much better than expected lead over his opponent in this round, we could see a rally in brazilian

lots of stories on the tablet, including this one on standard chartered.e pretty big on its business. it isa will be pretty big on its business. it is a london listed bank, but it does a lot of business internationally. stay with us here on bbc news. you're watching business live. our top story — mark zuckerberg claims facebook is on track for future growth after revealing disappointing user numbers and sales. it is going down in europe. a quick look at the markets and european stocks are doing really well. that is all we need to is safe. now let's get the inside track on getting a glow, whatever the weather, because fa ke—tan products are rising in popularity. the market in the uk grew over 38% in 2016, as more men haven taken up the practice. it's estimated that by 2026 the global self—tanning market will be worth nearly $5.5 billion. one company looking to capitalise on this trend is future beauty labs, who have fake tan available in 100 markets worldwide. with us now is marc elrick, chief executive officer and founder of future beauty labs. welcome to

brought to you by standard chartered bank. ♪ david: capitalism, you love capitalism.adore it. david: that is what your book said. why? ken: because it works. david: does it work? ken: absolutely. david: how do you know it works? how do you see that? ken: i know it works by virtue of my own life. you know, my father wasn't a capitalist. he was a union plumber. he did not make much money. my mother worked in a school cafeteria. so the only money they made, they made by the virtue of time and their hands. and here i show up and i have this whatever you want to call it, talent or insight, or whatever you want to call it. i become a capitalist. i want to be careful i don't sound like i am bragging, but i wish i had a nickel every time somebody told me how grateful they are for what i have done. it gives them employment. it gives them opportunities to be capitalists. david: where do you think capitalism has worked the best, and by that i mean, not for the individual, for the society, the country? ken: where ever it is given a chance. what i don't understand is go to hungary

credit suisse standard chartered a b. and p. par about out of europe big banks they're all pulling out then we also have the head of the i.m.f. the head of the world bank as well as the head of the london stock exchange they're not going to be at the conference either in viacom against the c.e.o.'s of this company are not going to be showing up there these are companies that could have made billions of dollars potentially from the saudi government either an investment or even opening or getting into that market in saudi arabia also in europe while one last company that i find notable would be ryan air we all heard about ireland's ryanair which is that discount airline they're not even going to be there so look at the companies it looks like the private sector is taking a stand here and until some answers or real answers are given these boys do not want to play ball with the saudi kingdom and alex one of the first and you and i spoke about this a little bit earlier is richard branson of virgin airlines and virgin hall of fame the

according to "the financial times," they told standard chartered they are preparing to bring criminalormer employees over a latched sanction violations. the british bank also may face $1.5 billion in fines. .organ stanley is remodeling you'll overhaul about 1.2 million square feet of office space to make it more tech friendly. the goal is to put experts closer to brokers, bankers, and traders. they say it needs to be designed around a more dynamic, millennial kind of workforce. in the parent of mercedes-benz has announced the first high-level departure since getting a new ceo. the daimler ceo says he will not extend his contract to the end of 2019. they were slated to take over as ceo. and that your bloomberg business flash. alix: on wall street three, we cover three things. first up, james bond comes to ubs. the bank is accused of helping clients with tactics worthy of double 07. prince saysi crown he took a ride in the tesla in a recent trip. -- the artists work goes up for auction is shredded right away. now, argueing us guest -- let's start with ubs. i thought we were done with th

a standard chartered bracing for a possible slaying on iran actions..5 to bender, we're going taking comments from president donald trump at the top of the hour from the rose garden. he is set to be speaking about the new canada and mexico deal, which he has termed usmca. couple ofabout usmc days ago, and has now come to fruition after talks last night. the dow is up 1%. the s&p is up 7/10 of 1%. those comments live in a moment. this is bloomberg. ♪ guy: 30 minutes left in the trading day in europe. from london, i am on -- i am guy johnson. vonnie: and i am vonnie quinn. this is the close of "european markets." ♪ guy: here are the top stories we from bloomberg and around the world. trading up. stocks rise and the u.s., canada, and mexico flinch a new trade deal to replace nafta. the president will be speaking shortly from the rose garden. reengineering. ge dumps john flannery and names larry culp. stock leaving on that news. and, as london looks for a .ompromise on the irish border let's talk about where we are in the european markets. less than a half

reporter: the chairman of standard chartered has contradicted him, saying the central bank is doing its job and balance policy sheet adjustments are reasonable. he said instead of changing policy, the most important thing to do is in short -- is to ensure an open trade environment. >> it will be lower next year than it was before hand. but still, the growth rate is good, and i think what we need to make sure is that we avoid that damage of global trade. is applying ada 25% tariffs on steel imports from china and elsewhere to avoid becoming a dumping ground for u.s. duties. the trudeau government aces tensions with washington, which hit canada, and others on tariffs earlier this year. includea does not subsidies for metal. the government of papua new guinea faces criticism after buying 40 custom made was a is to be usedratt for one week. they were flown in on two jumbo jets. it is one of asia-pacific's but theyountries, insist they will sell the cars after the summit. global news, 24 hours a day on air and tic-toc on twitter, powered by more than 2700 journalists and analysts in more tha

standard chartered is said to be bracing for a new penalty from the u.s.r historical breaches of sanctions on iran. we are told the fine could be as much as $1.5 billion, although final negotiations on the some -- sum are yet to begin. the allegations relate to breaches eating from at least five years ago. instagram has a new boss. he takes over following the departure of two others. his title will be head of instagram. the founders responded by saying the act will remain committed to its values -- the app will remain committed to its values. we are staying with tech. tesla shares in racing friday's big losses, soaring as much as 18% after elon musk's -- over elon musk's privatization tweets. they are working to boost model 3 deliveries. let's bring in bob o'donnell. are you confident that these production numbers will meet expectations? have we moved beyond with this sec settlement the questionable behavior, if you will, of elon musk? bob: the production numbers will be interesting. this is only one quarter. they are like cramming for a test. he sends out

soothing words from standard charter.anks measures of profitability lag, but they senate shares higher. it is the biggest gainer on the ftse 100 this morning. welcome to bloomberg markets. i'm alongside anna edwards at bloomberg's european headquarters in london. look att's have a returns, this is the picture of the individual stocks. london listed up by 7.3%. , and onceorting again, china and luxury seem to be the watchword's, managing to drive the company to the best growth since 2007. positive story from france. sanofi up, underlying the strength of the earnings and france. better than estimate numbers. standard charter also guiding numbers after a rally in hong kong. downside, we've got the u.k. retailer in negative territory. their numbers for sales were worse than estimates. we have a host of other stocks moving to the downside as well. these were also down. managing to deliver numbers in line with estimates, getting an upgrade, but that stock is down by 14% let's get an update on bloomberg first word news. business

lots of earnings playing out here in europe we're getting reaction to them standard chartered posted a 31% rise in third quarter pretax profit beating expectations. all this despite a negative impact on income growth. bill winters stressed the bank remains alert to broader political geo uncertainties. and he said costs are expected to remain at same level in the second half of the year. all this after saying they have not been able to bring down expenses as much so not making the progress some anticipated. the stock price is up higher we will hear from andy halford later this morning, that's on "worldwide exchange" at 10:00 cet. >>> spain's telefonica raised its revenue guidance after posting a 36% rise in third quarter profit this was a beat of forecasts the company saying they got a boost from customer growth and a favorable court ruling in brazil but there were currency affects in latin america that weighed on core profit which moved down by 1.4% >>> and sanofi is up this morning and bolstered its three month performance as the stock is up 7 plus percent it beat profit expectation

do you guys at standard chartered see value in gold. >> we believe risks are skewed to the upside fora fancy yes. >> yes if you look at the macro environment it's been negative for gold it's been tracking the dollar closely. we're now in a period where we should see fundamentals becoming much more supportive we saw that price dip in august, demand from china and india was strong and provided a better floor for prices >> one thing we probably didn't talk enough about, i think it happened on a day where we had two other big deals was berrick buying randgold, but some of the biggest gold producers buying each other i assume they want to take supply off the market. >> that's increased the interest in zone. it may be a good inflation hedge again and the commodity space is becoming much more excited about the complex. what we look at here in terms of cost of production, for most producers they're still making money. only 15% of the cost kev curve s loss making. >> like we talk about oil, costs have gone way down how much have gold miners been able to get their costs down >> a few years ago

. >>> standard charter has told cnbc it looks forward to resolving its legacy issues with u.s.s following a report that a fine over its sanctions violations could top 1$1.5 billion the bank has been bracing for penalty for breaking sanctions against iran, sudan and libya. the case has been running since 2012. >>> akzonobel says it will return 5$5.5 billion to shareholders after the sale of its chemicalmaker this week, they will deliver on a promise made on march to share the majority of the proceeds of the sale with investors. >>> ge shares closed 7% higher after the company's board ousted john flannery and replaced him with john cult last year flannery announced a turnaround plan that would return ge to growth. shares have lost more than half of their value since he took the top job. >>> bill griffith has more on this surprise shakeup. >> reporter: the ceo, larry cult, may be new, but ge is facing a lot of familiar problems, like jack welch and jeff immelt before him, john flannery was a company veteran spending 30 years at ge, but his 13-month run saw ge stock decline by half

standard chartered says it is a benefiting from growth in asia and bringing costs under control.nses which have been a key concern after the bank said that costs unexpectedly jumped. tensions,obal trade they say they are cautiously optimistic on global growth. the ceo of air france has pledged to pursue an ambitious and innovative strategy after the carrier posted lower earnings. despite 15 days of strikes, the french arm of this year, praised the company's commercial strengths, attracting brands and staff. france andl at air klm, although the dutch unit remained well ahead of its larger sibling. along with a modest boost to its 2000 outlook, they have reported earnings. ,hird-quarter earnings rose beating the average analyst estimates. a drug that sanofi is relying on is slightly ahead of estimates. nomura has posted a rare loss as trading profits and brokerage commissions fell. loss at japan's biggest brokerage was ¥11.2 billion. making the second quarter of red ink in the past seven years. the firm lost money overseas, underscoring their struggle to sustain profitability outsi

standard charter is bracing for a penalty of $1.5 billion from u.s.horities for allowing customers to violate iran sanctions. the amount is a preliminary assessment based on some of the communications between the bank and that regulators. the bank continues to cooperate fully with the investigation and is in ongoing discussions with u.s. authorities. toyota says it would need to temporarily halt u.k. car production and the event of a hard brexit. if the country crashes out of the eu without a trade deal, the toyota-europe president said the resulting logistics disruption would force a shutdown. the world's most profitable carmaker joins a growing list of companies making contingency plans for a no deal brexit. that is your bloomberg business flash. nejra: thank you. peugeot and citroen cars is deciding whether to return to the american market. bloomberg spoke to the carmakers ceo. timely this is a decision because we are preparing for our u.s. come back, and this is part of the framework that we need to know before we make the final decisions which me

standard chartered bank is bracing for a potential penalty of 1.5 billion dollars from u.s.ties for allowing customers to violate iran sanctions. bloomberg has learned the amount is a preliminary assessment based on some of the communications between the bank and regulators. the bank says it continues to cooperate fully with the investigation and is an ongoing discussions with the u.s. authorities. that is your bloomberg business flash. nejra: thank you so much, juliette saly. we have seen brand go above $85 a barrel as investors grapple with adults over opec's ability to replace falling exports from iran, which declined to the lowest in two and a half years before the impending return of u.s. sanctions. geoffrey yu is still with us. ubs's best case is we have a tight market and we get brent crude at $85 in the next couple of months. can we get to $100 and stay ?here geoffrey: i think there are two factors to that. one, we will see a pickup in investment. something that has been missing when you consider how all the oil prices is going, how would you reconcile higher oil pri

shery: standard chartered is being set to be -- is bracing for penalties of deaths from the u.s. way it has handled iran. three stocks sank -- the stocks expectationsalyst were beaten. haidi: the treasury -- facebook is ramping up -- twitter is ramping up the fight against fake accounts to prepare for the u.s. midterms. includes stolen avatar photos and intentionally misleading profile information. reportingomberg is details of a barf -- our fight 1985985 -- bar fight in involving supreme court nominee brett kavanaugh. our reporter joins us from washington. a bar fight in your college years is not a big dear until untilcome a sip -- deal you become a supreme court nominee, and then a wanted the defenses around the way you drank. with, gentleman i spoke charles ludington, said he had planned to not bring this up when brett kavanaugh was nominated to the supreme court. the nomination had been ongoing for a month or two, but after watching brett kavanaugh appear on television in the contentious hearing last week in front of the senate, mr. ludington decided what he had seen of brett

yvonne: coming up later, standard chartered's head of em strategy.o coming talked about inflation out of thailand. em facing more inflationary pressure. oil prices on the way up. this is bloomberg. ♪ haslinda: thailand's data shows inflation slowed in september 2 1.33%. inflation has been rising since february, moving in the middle of the 1% to 4% target range. indicating price pressures from domestic demand remain muted. the bank of thailand has seen slowly moving in the direction of a tightening cycle. --ning us it looks like inflation has picked. >> it has. indicates that was the highest level it could reach. we think it will be within the 1% to 4% range, but towards the lower end. for core inflation we believe it will be below 1%. there are not a lot of demand pressures in the economy because wages remain soft. there is a high level of debt in the economy. we don't -- of course we understand the bank wants to hike to build up policy space. we also have to cut rates the time the next recession has. -- hits. seeing downside pressures from the trade

standard chartered on a huge bang and that‘s really pleased the market.on. millions of people across the uk will be putting pumpkins on their doorsteps as they prepare for halloween trick or treaters tonight —— but what happens to the jack o‘ lanterns come november 1st? new research has found the uk will bin 8 million pumpkins after halloween this year —— the equivalent of enough pumpkin pie to feed the entire nation —— as most people who buy them bin the leftovers rather than cooking them. 58 % of britons now buy a pumpkin at this time of year. and an estimated 10 million pumpkins are grown in the uk annually. 95% of these are carved out in lanterns for halloween and the rest used in recipes. but more than half (51%) of those who buy the orange coloured squash throw away the flesh rather than cooking or composting it. that‘s according to environmental charity, hubbub. so what should we be doing with our pupkins? tessa tricks from hubbub, who runs an annual pumpkin rescue campaign, told me. it really is called that! winds halloween is over if you‘ve carve

we've got standard charter and a host of others. these are some of the big names and financial giants of the world saying we're not too keen being in this part of the world. could it boomerang on them and on the region? we have former state department officer morgan ortega and joe durant. begin with you, joe, impact on folks saying we'll not be there, we'll cool this out, is there hell to pay for them? joe? >> asking me, neil? >> yes, i am. >> i think for people opting out, no. i think the markets are a little bit nervous about what is the reaction of the u.s. going to be. if we take lindsey graham's position and sanction we don't want to get into another tariff war or trade war or putting sanctions on another country. they provide 9%. our oil. they own a lot of our debt and it is a battle that i think the u.s. would not rather get involved it with right now. i do not approve the actions but are the consequences getting into battle with another nation on trade or tariffs or sanctions worth the cost? i think there will be a very inte

they told standard chartered they are preparing to bring criminal charges against two former employeesnvolving iran. the british bank may face $1.5 billion in fines. the parent of mercedes-benz has announced the first high-level departures since naming a new ceo. the daimler ceo will not seek to extend his contract which ends in last month, they elected 2019. someone else to take over as ceo next year. the chilean copper mine is downplaying the impact of a trade fight. bloomberg spoke with the ceo. >> the outlook for copper is positive. on the demand side, emerging markets continue to drive physical demand. china's demand is expected to grow about 4%. in other parts of the world, demand is strong. on the supply side, copper is in shortage. generally, you have declining grades and it is a commodity which is supply constrained. the outlook for price is positive. taylor: that is your bloomberg business flash. francine: thank you. the controversy surrounding the italian government spending plan has led to continued nervousness in markets. there are concerns of that the plan is heading for

tom: you have seen leadership from standard chartered and hsc hscb pullout.rabia with meetings over the disappearance of the journalist. the trump administration is still deciding whether to take saudin an upcoming investment conference. that has been thrown into turmoil. there are multiple reports that that hei's will admit died under interrogation. it is said that the saudi's head land to kidnap him from turkey. minister theresa may will address european leaders on brexit before their dinner tomorrow. talks wrote down over the weekend and one eu official says things are trickier than expected. the stumbling block is what happens to the irish border after the split. china consumer inflation's up for the first month in a row. ined consumer index rose september. that was in line with estimates. prices rose the most since february. inflation rose last then the previous month. bill gates says personal computing would not have existed without paul allen. the billionaire cofounder of microsoft died yesterday from compilations of non-hodgkin's lymphoma. he stepped

been hearing resu ing rumn whether they should be going through this at this point we heard the standard chartereo, credit suisse also dropping out. i'm hearing why are they going on with this to begin with or is it a question of the ego of the conference a lot of questions over whether this fii conference will take place and certainly more questions remain about the disappearance and possible death of jamal khashoggi we are waiting to hear from mike pompeo in the coming hours >> hadley gamble in riyadh, thank you. we'll talk more about saudi arabia with larry fink he will join us at 6:30 a.m. his earnings we'll talk about but also one of the executives yesterday who decided to pull out of that conference >> let's get back to the markets. joining us is david bonson, and julian emanuel it's been about a week now since we started into what is at least some type of correction. is it a garden variety correction in your mind, david >> in terms of the normalcy of moves down, 4% to 7%, it's garden variety this type of thing does happen several times a year on average. the causation here is different th

whereas charter schools are not complying with the same standards as public schools, including but not limited to 481-15 and whereas because charter schools do not serve the highest need students, public schools have higher needs students and this data has been used by the charter school destroy claim the charter schools outperform traditional school. whereas proposition 39, mandate many time resulting in shortage of spaces and conflict within school communities and charter schools to make decisions about how public funds are spent, and whereas charter schools do not track data about their students, including but not limited to discrepancies regarding the student subgroups, those with special needs, those with social emotional needs, foster youth and homeless transition students. whereas taxpayers deserve transparency and accountability with respect to all public school funding, where the state of california has underfunded due to proposition 13, and whereas, there is at lack of research and statistical analysis with respect to charter school expansion on the vast majority of students

i did want to ask about their provision that charter schools are not provide -- required to put track and publicly report data to the same standard as sfusd schools. i understand from the charter school, this is the issue that they are required to provide these things. i. i wanted to ask the office whether additional reporting requirements that you are thinking of, or is that something that we can compromise on? >> ok. there are things that we require of our schools to report on. interactions with police, and other types of data that charter schools don't have to do that we demand of ourselves. that we would like that charter schools to also provide to us. we get this annual updates from the department. those are important data points for us to look at. we don't have those for charter schools. i don't know if there was others but i spoke with council about this and i don't know if there were other areas that we mandate out of our own schools in reporting data that charter schools don't have to. >> the only other data i can think of, commissioner, is the intense data dive we do around student discipline. and did socioeconomic divi

appeals, and i understand why you want to add a standard of review that's more clearly articulated that would guide the commission in carrying out the charter requirement that we provide an appeal hearing. i'm not certain, though, that that is the appropriate standard of review. i had, very early in my career, the privilege of representing the planning commission, and a lot of times, there are important public interests in what that commission would do, and people would have the opportunity to go to court and file a petition for a writ to have the decision of the commission reviewed. and it was very important to have the appeal hearing at the board of permit appeals to further flush out the disagreement if it was that contentious or confusing or ambiguous an issue. and i recognize that for legislation, an arbitrary and capricious level would be better, but i think if we have an appeal or don't have an appeal, somebody still has the right to go to court and seek judicial review. i would like the commission standard of review to be the same as the court standard of review. and i would also like to give the public the opportunity to come forwa

we're alsojoined by melissa collett, who is the professional standards director at the chartered insuranceovarian cancer in 2015. since then i have not really been on a lot of long haulflights, just not really been on a lot of long haul flights, just generally because i have been at university. the cost of insurance is just unbelievable compared to what it was like before. so if! compared to what it was like before. so if i wanted... we went to brussels last week to present the white paper in europe, and buy travel insurance was 50 or £60, more than the flight. because you have had cancer you don't want to go without travel insurance because of the medical conditions you have, but it is so expensive that same time. it isa it is so expensive that same time. it is a huge problem that a lot of my friend ‘s and bradley's friends have experienced, so we wanted a voice, which is why we have done this. bradley, you're part of the campaign group youth cancer europe, because you have had similar experiences. each cancer experience is different and individual, but from our experience, and from meeti

standards, and where purchasers know where they stand. we could also use better custodians in general. comptroller at the office of the comptroller the currency has revitalized the process of offering fintech charters to those offering services that don't look like a traditional bank. a nationally chartered bank that custodied bitcoin would be bring more rationality to the markets. >> doctor, would you comment on the same issue? >> yes. cryptocurrencies are not scaleable or centralized, and they're not secure. bitcoin has five transactions per second. there is a massive concentration of the mining among the chinese, russian, and other miners. you say you don't rely on a trusted institution. it is a group with no control. they claim in the future it'll be scaleable, but the only way they achieve scapability, like proof of stake, is going to lead to more mining. once you have catization mining no security. if someone steals my bank account, i call, and it is blocked. i have insurance. i have support of the financial system. yes, i pay a fee. if somebody is hacking your crypto world, it is gone forever. no deposit insurance. no lender of last resort. no solution on the hacking of your wealth. there is

standards and were purchasers nobody stepped -- there are known. we could use better custodians in general. comptroller at the office of the comptroller of the currency has revitalized the process of offering charters to new companies offering new services that don't look like traditional banks and ashley chartered bank that custody scripter currency is something i think would bring more rationality to these markers. >> thank you, and dr. roubini, would you comment on the same issue? >> yes. cryptocurrencies are not scalable, are centralized and they are not secure. bitcoin is five transaction per second and is a massive concentration of the mining about this but china, russia and other minors. so you say you don't rely on transit institution. your rely on an arthropathy of individuals that are have no control. there are solutions that claim in the future are going to be scalable but the only way they achieve like proof the stick, will lead even more -- concentration money. once that happens there's no security. if i lose my credit card or someone steals my bank account i call block, i have deposit insurance, i've support a financial system. i pay a fee. if somebody attacking your crypto, it's gone

standard that protects consumers on my privacy. whether consumer information is adequately protected should not depend on where they live or where they travel. the final principle of security. at charter we believe privacy and security and security is privacy. strong security practices should include safeguards to protect against all unauthorized access to information. we support the adoption of federal legislation based on these principles and believe the ftc is the right agency to oversee and enforce any new privacy law. recent revelations about the vulnerability and misuse of online data have led to a long-overdue discussion about what happens to her personal information online and how best to protect you. we look forward to working with members of the committee and other stakeholders to develop legislation that protects consumers and make them feel confident they can take advantage of all the products and services the internet has to offer. i think the committee for their time and am happy to answer any questions. >> thank you, ms. welch. there are a number of you that will represent companies today who are operating in europe and you cut several months now working under the gdp a

charter schools on the education front. i think they have to take a look at what's being taught to students and see to it that our standardsf the world. stuart: all you've got to do is fight the teachers union. thank you very much. >> my pleasure. stuart: check out the big ward. all the way back to a minus 20 i think it was. now we've gone back down to a minus 115. joining us now, fox news contributor scott martin. what the devil's going on? i blame this down up down. what's going on? >> it looks like i picked the wrong week to quit smoking. i'll tell you what. i really can't put it another way. the market is really embracing the volatility right now because you have the lets say erudite gary kaltbaum online seller who is talking about how they deal with a lot of cross currency and one thinking going on right now as we see interest rates in the movement therein day-to-day, week to week really change the outlook for stocks as go up in as thumbs up or they bumped down, stocks tend to react the opposite direction. >> is the worst over? >> i don't think so. i do think the worst is not bad. let me put it that way. i don't think