morning we reported here at zero hedge that a number of traders currently or formerly employed by u.b.s. h.s.b.c. and deutsche bank as usual no j.p. morgan u.s. banks were touched would be perp walk and charged in an unprecedented cross agency crackdown fifteen the c.f. to see d.o.j. and f.b.i. seeking to punish spoofers of futures this was confirmed moments ago by a c f t c press release which announced criminal and civil enforcement actions against three banks and six individuals involved in commodities fraud and spoofing schemes so a bank has to pay thirty million dollars u.b.s. the fifteen million dollars and h.s.b.c. a spray one point five million dollars to settle these spoofing futures in the gold and silver markets all right well we were talking about this for ten years that these banks manipulate the price of gold and silver as a way to keep the dollar buoyant and keep the focus on the dollar and everyone argued that this was a not possible because for every bar there was a seller but in the world of naked futures and spoofing that's not true and now it's come out these banks a

morning we reported here at zero hedge that a number of traders currently or formerly employed by u.b.s. h.s.b.c. and deutsche bank as usual no j.p. morgan u.s. banks were touched would be perp walk and charged in an unprecedented cross agency crackdown between the c f t c d.o.j. and f.b.i. seeking to punish spoofers futures this was confirmed moments ago by a c f t c press release which announced criminal and civil enforcement actions against three banks and six individuals involved in commodities fraud and spoofing schemes so daughter bank is to pay thirty million dollars u.b.s. the fifteen million dollars and h.s.b.c. spray one point five million dollars to settle these spoofing futures in the gold and silver markets all right well we were talking about this for ten years that these banks manipulate the price of gold and silver as a way to keep the dollar buoyant and keep the focus on the dollar and everyone argued that this was a not possible because for every bar there was a seller but in the world of naked futures and spoofing that's not true and now it's come out these banks are

morning we reported here at zero hedge that a number of traders currently or formerly employed by u.b.s. h.s.b.c. and deutsche bank as usual no j.p. morgan u.s. banks were touched would be perp walk and charged in an unprecedented cross agency crackdown fifteen the c.f. t. c. d.o.j. and f.b.i. seeking to punish spoofers of futures this was confirmed moments ago by a c f t c press release which announced criminal and civil enforcement actions against three banks and six individuals involved in commodities fraud and spoofing schemes so daughter bank is to pay thirty million dollars u.b.s. the fifteen million dollars and h.s.b.c. spray one point five million dollars to settle these spoofing futures in the gold and silver markets all right well we were talking about this for ten years that these banks manipulate the price of gold and silver as a way to keep the dollar buoyant and keep the focus on the dollar and everyone argued that this was a not possible because for every bar there was a seller but in the world of naked futures and spoofing that's not true and now it's come out these bank

spent in several years at u.b.s. in wealth management and. you know i learned that. you know so well today's world of finance is there and the cool place today unfortunately right it's a privilege of safety in a safe offshore assets today it's a privilege of which right until until recently you know it's a global custody is a safe place for assets so it's been police a sleek switzerland and so on and if you're rich there is a place for you right but then bitcoin came up and the big going this actually is the same it's global custody rates for everybody and this is the first the first implementation of democratization of finance right so be it kone you know was actually from using inspiration rate i mean they come from ukraine you know we suffered through hyperinflation of the soviet union collapsed below us everest and you know and if you once lived through that and you know how devastating hyperinflation and all those you know economical cataclysm can can have impact on you and your family and then what bitcoin has achieved as a global as a global crypto currency po

sent in to announce the country it is its first cooperation with essential bank other banks including u.b.s. and some ten day already cooperating with the silicon valley startup. now the african union says it stepping up the fight against corruption which it says is an urgent problem across the continent a new un study shows that billions of dollars a plundered every year lining the pockets of the powerful widening the gap between the rich and the poor as well as damaging growth. nepotism money laundering and endemic corruption is a scourge for development in africa this is especially true in countries rich in rule materials the revenues often end up lining the pockets of corrupt civil servants and various elites such crime intensifies inequality hurting the poor especially. according to experts at the united nations africa loses one hundred fifty billion us dollars to corruption annually what's especially problematic that stolen revenue doesn't flow back into local economies. rather it's spent or parked outside the continent. that translates into a twenty five percent drop in africa's econ

the chief economist of u.b.s. wealth management says no reason for consumer concern unless you were foolish enough to gamble on the cryptocurrency. lost sleep over that bad big investment well you may want to try a new mattress what about one filled with horsehair it's a century old family tradition for this next building business been no animals were harmed in the filming of this next report though there may be a few horses running around without tails. it's a craft which is all but died out don your hair is continuing his family tradition into the fourth generation. mattresses handmade bespoke otter's not a far cry from the synthetic products sold most shops these days daniel makes them with traditional materials meaning his wares are stuffed with horsehair each mattress needs at least forty horse tails to get complex aspirational branding so common among the big businesses daniel has one dream to remove the clutter from sleep. so to thrive a very pure experience to really try the way there is nothing there's no

bitcoin so how do asian trade see the big point of developing twenty eighteen the chief economist at u.b.s. wealth management management was just quoted as saying the bubble has probably burst. well we kind of seen it breaking the key support point so it doesn't actually quite justified that sense but also thing about it you know we've seen equities market going down quite a bit of all ovah asian markets haven't been enjoying the bull run that it has been in the past month since twenty eighteen so and possibly also if you look at the volumes it might not be as high as the four and chinese new year is coming up so maybe some people are just sitting on the sidelines to see what's going to happen with bitcoin regulation before actually going in when the bull starts bed linda hong in singapore now if one of your new year's resolutions was giving up smoking and it didn't work is cigarettes could be a compromise or they just as dangerous talking on an electronic cigarette looks like smoking but there's really no smoke at all what comes out of the cigarettes is vapor which is why it's called a pi

the chief economist of u.b.s. wealth management says no reason for concern among consumers unless you were foolish enough to gamble on the crypto currency. well bank has just enjoyed it third loss in a row we're talking close to half a billion euros the lender insists it is making good progress in cutting costs but it will take time to improve profits by streamlining operations ditching business in less profitable countries and installing a low cost culture which apparently doesn't include its top management now deutscher certainly has a major p.r. problem in recent days u.s. will. dorothy's find the german bank a combined eighty million euros for market manipulation it's already paid out remember billions for a series of scandals involving its mortgage a business now the pressure is rising on chief executive john cryer and he took over in twenty fifteen the idea was to turn the bank's fortunes around but three years on will cry in his only posted losses now he says he just needs more time and there have been repo

and into and out off the country it is its first cooperation with a central bank other banks such as u.b.s. and santander are already cooperating with the startup from silicon valley. and staying with money hyperinflation has hit them as a way of cash is increasingly short supply that is bad news for everyone aside from a few tech companies that have been able to carve out a niche amid the crisis. this is the kind of scene you can expect if you're hoping to access cash in venezuela soaring prices have led to shortages in paper money and long lines at a.t.m. . but the country's hyper inflation has produced some surprise winners in the business world small tech companies offering shoppers mobile payments one of them is very cold its founders has been its way less economic crisis has sped up what was already a burgeoning trend. we saw in twenty ten and twenty eleven that other tronic payments were going to be a trend globally. in a moment that what's happened is that it's accelerated in some countries for various reasons so perhaps our economy will become cashless before that of denmark effec

deutsche bank and u.b.s. they've been fined by my former agency the c f.t.c. . so what is spoofing and should that be rolled back short so as far back as a dozen years ago we used to talk to the f.c.c. about things like quote stuffing we used to call it but we use the word spoofing as well and then as you mention it came into regulations as part of the dot frank act where is the submission the simultaneous submission of large orders of electronically generated quotes in orders that are not meant to trade but in fact meant to cause other market participants to trade at dislocated market prices that's what spoofing is a dislocates markets and it causes a lot of short term harm now i don't think that's a regulation that should be turned back around at all because even though you will always observe the market snaps back things normalize ultimately the market self correct what happens during those periods of dislocations can be very damaging and you see it in some of these reports about these banks some of them actually self reported the activity they also recognize

a couple still kind of oil u.b.s. i mean are you. sad. welcome back to cross talk where all things considered i'm peter lavelle to remind you we're discussing the memo. for a gentleman to continue with the memo but i want to change. a different path here and watching him. c.n.n. they're absolutely giving complete cover. i saw one segment with a wolf blitzer talking i think was to. a congressman and he kept talking about his his issue was well why didn't you release it the same time because the democrats are going to have one and finally the congressman was quite politely said well can we talk about the contents of the memo instead of the timing of a memo we don't know much about because it hasn't been completely written ok this is the tactic again nothing to see move along but they're giving cover to it like i gave the new york times title right here if they don't want to talk about it a lot of people are talking about it it has amazing implications here the the real potential criminality and there is actual not just misuse of authority h

the chief economist of u.b.s. wealth management says no reason for concern among consumers like phil unless you were foolish enough to gamble on the cryptocurrency for your bank has just enjoyed its third annual loss in a row close to half a billion euros the lender insists it's making good progress in cutting costs but that it will take time the pressure is rising on chief executive john cryan he took over in twenty fifteen to turn the bank's fortunes around but three years in crimes only posted losses is what crime had to say about today's worse than expected results. you know this is yes it is the third loss in a row. for however it is also first pretax profit since twenty fourteen schwarzer. will be without the one of hit we took as a result of the u.s. tax reform we'd know be reporting a net profit of almost one billion euros. but the theoretical billion could be headed straight for company bosses bank accounts and executive bonus hike or all the good work in the midst of scared off by us all to mention all t

into and out of the country its first cooperation with the central bank and other banks including u.b.s. in santan debt already cooperating with the silicon valley startup. day two of coverage of the berlin international film festival and sarah harman is standing there out on the red carpet she is ready for us now and sarah to tell us what is happening there tonight we have a very very close up of you there and you're on full focus give us the latest a little too close for comfort probably sorry about how i know our viewers do not want to see that much of my pores or my hair we just saw a great red carpet premiere here robert pattinson is here with his new film damsel and this is sort of western satire slash comedy and super funny we see robert pattinson in a comedic role for the first time as far as i'm concerned and the fans out here sara went absolutely crazy for him robert pattinson has been two for berlin film festivals and he still has a lot of diehard fans from his twilight years who can forget the iconic vampire series so as he took to the red carpet there were a lot of people o

currency because they feel like well perhaps that you know this is a market that is not controlled by u.b.s. and h.s.b.c. and deutsche bank who go golfing with the president and the you know attorney general and therefore always get off from these crimes and never charged with these crimes maybe some. minions and the low guys on the totem pole get arrested as in this case in the six traders who were arrested and are being charged criminally in the gold and silver market manipulation so we're moving to this next headline here more than one million people signed up for early access to robin hood's new crypto trading service no fee stock trading app robin-hood announced thursday it was rolling out commission free trading in digital currencies big queen in a theory i'm beginning in february although the service will initially only be available in just five states within one day after that announcement hundreds of thousands of people had indicated they wanted to be notified about early access to crypto currency trading so seventy eight percent of the users of this seventy eight percent are betwe

currency because they feel like well perhaps that you know this is a market that is not controlled by u.b.s. and h.s.b.c. and deutsche bank who go golfing with the president and the you know attorney general and therefore always get off from these crimes and never charge with these crimes maybe some. of the like minions the the low guys on the totem pole get arrested as in this case in the six traders who were arrested and are being charged criminally in the gold and silver market manipulation so we're moving to this next headline here more than one million people signing up for early access to robin hood's new crypto trading service no fee stock trading app robin-hood announced thursday it was rolling out commission free trading in digital currencies big queen in the theory i'm beginning in february although the service will initially only be available in just five states within one day after that announcement hundreds of thousands of people had indicated they wanted to be notified about early access to crypto currency trading so seventy eight percent of the users of this seventy eight per

let's speak to the cohead of fx and rates strategy at u.b.s. limited. he is themos fiotakis .ll it take to change market expectation around rates? inflation will probably be coming off a little bit in the next few quarters. the bank of england still needs to normalize come even within that environment -- normalize, even within that environment. i think one of the little points is whether we get a transition deal around the brexit. >> you referenced both what is on the inflation side and also the politics. -- hikesrate heights are you expecting to see in 2018 from the bank of england? we are definitely expecting one immediately after some kind of resolution takes place come in terms of the politics -- place, in terms of the politics side. the bank of england it self is signaling something between two and three hikes to normalize rates to something a little more appropriate for an economy that is not doing great, but it is still at a tight capacity level. inflation is still at the target. we're talking about an adjustment here, rather than eight for hiking cycle -- than a full h

u.b.s. and kind of stiffing the horn of africa but spitting is a peacekeeping operation in somalia and in south sudan now i think it best to but it's a bit in such operations or saw. afaik that in the longer term currently we're we have not seen such and of impact us but is a long term or in the medium term if your belt is not able to but it's a bit in the peacekeeping operations and just get over it your base or saw another another catastrophic disaster for the region what we should see what does happen certainly in the weeks and months ahead for the moment aga shine thanks so much for joining us from austin texas. well still ahead here on the al-jazeera news more claims and counterclaims about the trumpet ministrations stance on new israeli settlements and what it means for the stalled peace process also. rebuilding the bricks and mortar of the soul the push to celebrate arts and culture in post eisel iraq. and we'll tell you what a record breaking ice skater has to do with a fictional bea

u.b.s. does research on investment and business optimism. they recently did a survey of business owners, and they asked the question, several questions. one of them is, is your economic outlook positive? well, in the fourth quarter of last year, it was positive. 65% said yes. first-quarter of this year, it's up to 83%. they asked the question, is the business outlook stronger now than it was in the past? in the fourth quarter of last year 77% said, yes, it's stronger. the first-quarter of this year, 87% said, yes, the business outlook is stronger. they asked business owners about their plans for hiring and investing. 36% plan to hire more workers, 37% plan to ininvest more. it is optimism about the future that is a necessary precondition for more investment. because, after all, that investment depends on a strong economy going forward to make it worthwhile. well, that investment is reaching new highs because of the combination of a lighter regulatory touch and pro-growth tax reform. it is important to stress, mr. president, that this tax ref