the u.s. banks had to get out and the canadian banks had to work something out. we see in the caribbean, the canadian banks are still prevailing specially in former british colonies of jamaica, et cetera, et cetera. the retreat from caribbean, though you see citibank returned to haiti after many years, the larger legacy was less of the actual presence of wall street and of u.s. bankers in the caribbean than their understanding of what this history meant for them to the present and if you look at the kind of corporate biographies of citibanks, you understand that they looked at the 1920's and -- 1910's, 1920's of expansion when they were able to create new financial institutions and financial instruments that would -- were largely unregulated by the government and go out into the world and make money as they wanted to. after the 1930's, they were restrained. what you see in histories of citibanks, you need to get back to this era of unregulated expansion where you can collapse investment functions and move across national boundaries and where we can basically do w

there are certain sectors, things like u.s. banksould actually fair very strongly, and we've seen that today and some of your charts you showed already, in terms of how rising yields correctly very supportive of certain parts of the market, the u.s. bankers being one of them. vonnie: we will talk more about u.s. banks coming up. nejra: with helen driver, she stays with us. we are back with more of the sector text. this is bloomberg. ♪ vonnie: live from bloomberg world headquarters in new york, i'm vonnie quinn. nejra: live from london, i'm nejra cehic, counting down to the european close. leaguemarkets, a bigger for retail, u.s. retail sales due out before the bell tomorrow and a series of high-profile companies will report earnings throughout the week. including home depot, walmart, and target. back with us to discuss the state of retail as well as a few other sectors she's focusing on his helen driver, head of global equities at aviva investors. talking about retail, we were talking about this in the context of corporate debt last

with u.s. banks coalition forces advancing against islamic state in the iraqi city of tel afar thousands of civilians are being displaced they say they're forced to flee from both coalition bombs and the threat posed by the terrorists. that we were in from the shelling from the. we lift the people from islamic state along. with that. our children are sick we're stranded here without saying that there is no fresh water and some of the aid workers have been here but very few of them this is my son he is suffering and we have no electricity. telephone is the latest objective in the u.s. bank war on islamic state it comes after the recapture of mosul following a nine month campaign that left much of the city in ruins however the operation to liberate teller fall which has been on the ice the control for three years has the lists all to ease the suffering of civilians there are doubts you have explains. downtown mosul or what's left of it and now dr west is tied up saw the new ground zero in iraq and ther

says that financial market deregulation under consideration as sixaise profits 20% of the largest u.s. banks additional $27 billion of gross profit. among the banks that could benefit the most are jpmorgan and morgan stanley. joining us is a senior writer on the finance team. how did you come up with that number? >> a lot of numbers coming together. a lot of number crunching with several elements and suggestions in the treasury report in june that came out. some of those will not happen because they are related to congress and congress has to pass them. nobody is expecting congress to do anything. a big chunk of them can be done theegulator, by retuning regulations and some of them related to what came from how we implement to them in the u.s. we increased the rigor of the rules that internationally were agreed to. sanctionshose are the -- sections i looked at, the tweaks that can happen, if we bring down the rules by international standards. vonnie: let's look at this pie chart. majorws what each of the pieces of regulation that will be done away with what do you compliance costs would give

are a number of legacies but first in terms of the current influence the legacy is left less of u.s. banks may and canadian banks one of the things i found in my research was the canadian banks even the bank of nova scotia or montreal where the biggest competitors to u.s. institutions of the 20th century. through the rope baying of canada there also for competed for deposits and when the of cuban revolution there was a negotiated settlement on behalf of the canadian banks. soap there still prevailing. with a retreat from the caribbean and in returning to haiti with that actual presence so with their understanding of what this history in some places. looking at corporate biographies looking at the 1920's or early '30's that is a glorious period of international expansion to create new financial institutions so to go out into the world with the new deal banking legislation. to give back to the era of unregulated expansion wary we can move across boundaries with those pesky sovereign caribbean nations the other is a sense of wanting to move back into those markets and with that branch expansi

when do we move from u.s. banks to european mank banks and we'r making some of that transition now. >> some people made that transition in march. so you think european banks have a way to outperform u.s. banks >> over the cycle, two, three years, yes there's more upside on their valuations and more interest rate normalization to go on in europe that's the structural upside what about the political risk? it feels like increasingly this market, whether it's vulnerable because of evaluations or because it's late august is paying closer attention. when you have a president threatening a shutdown, breaching the debt kreeling wce without raising nafta, how do you approach that? >> we think august, september, october is a place for the market to consolidate, but he can don't expect a correction. the market sees higher levels by the end of the year because we'll get a corporate tax cut late this year >> just a corporate tax cut? >> no tax reform just a corp plat tax corate tax. >> 30 seconds left where do you think the doll

says it has retaken talla fall one of the last islamic state strongholds in the country but the u.s. bank offensive has come at a heavy price for civilians. the operation began a week ago and i saw militants have dropped back from telephone but they still hold nearby territory broadcasting reports from the recaptured town. we're at the airport of telephone mia five kilometers from the city itself where the operation to liberate dallas is under way this actually serves as a sort of said sold base serving the entire operation and soldiers from the frontlines they come here to rest and to eat before heading back their exultant they say that the operation is almost over they've actually even got a message for isis. i have a massive leave they are world now you have no place here will hunt you down wherever you are there jubilation however is a stark odds with what the people of talent have gone through what it was miserable we were under occupation imagine that and you know they turned the mosques into prisons there were thirty to forty people there we don't know what happened to them they de

i'm not joking every u.s. bank has been convicted of drug of laundering billions of dollars of drug money none of those bank executives go to jail they just get fined but another words profit drives this industry there's no military solution yet honest fact about the bank is very very sad and you know the tool surprising what does surprise me is the fact that the d.n.a. and the government watchdog doesn't agree she's vol the worrying of whether drugs are actually originating from how is that happening. well i mean you have to parse it i mean the issue though isn't really again i don't think the source of the drugs and it's certainly not about a policeman or military strategy if people cannot feed their families if poor farmers cannot live as they cannot live because afghanistan has been completely fragmented after seventeen years of war there's going to be no military force to be able to actually exercise that kind of control moreover the united states controls less of afghanistan than it did in two thousand and on

u.s. banking.t mean for the bank's image? that's next. and i will stop on the hour. continuing to buck the retail struggle. ♪ ♪ nejra: live from london, i'm live fromc. vonnie: london -- new york, i'm vonnie quinn and this is "bloomberg market." target, online sales brightening the outlook. .oining us with more is taylor same sales,he coming into my terminal. 6995, charting those sales come up 3.4%. what's interesting about this is it came from digital growth. coming from those brick and mortar stores, that is the highest order going back to the fourth order of last year. these are good numbers and i want to highlight the digital sales up 32% over last year's been percent. see somere starting to competition from both amazon and walmart, underperforming those shares. everyone is fighting with amazon am a that's not a problem. walmart trying to lower the prices better compete with target. you are seeing target shares of it under pressure. vonnie: it's a fascinating turnaround story, traffic is up. pr

he coverwe saw a big rise in dis and buyback promises from u.s. bankhe recent stress test results, which leads to the obvious question. he did nowhat can we expect from european banks on buybacks of dividends? >> we are still some were behind the curve in terms of where u.s. banks are today. we see recovery in the u.s. much quicker. we see an increase there. we are getting ready, but we are still somewhat behind. committee, once it is clear on that, only then can you get increases. reportnly a few more to in the european season. key takeaways in the banking's earnings season, what would you have to say? philip: on the top line, it has been pretty mixed. asset management, instruments have done very well. in terms of the loan body growth, mixed. some positive signs beginning to come through, but still touch and go. costs are negative. barely a bank has done better on the cost side. still struggling on the cost side. vonnie: who is winning on trading and emerging acquisitions? that is what we're focusing on in the u.s. and the u.s. season. in europe, it s

u.s. equity funds for the tenth straight week, marking the longest stretch if in 13 years. according to bank of america merrill lynch, total outflows since the end of june stand at $30 billion. some market watchers say that the political deadlock in y leaving the u.s. g doubt on sto stoc. well, the economy got some not so good news today. orders for durable goods fell more than 6 p.5%. the most in nearly three years. according to the commerce department, it was led by a drop in the category of civilian aircraft, but there was positive news. within that report, gauge of business investment rose last month. >> president trump will publicly start campaigning for tax reform next week according t.o. president's top adviser, gy . made the statement in an interview with the financial times. where he also criticized the president for his response to charlottesville. eamon javers is at the white house tonight. >> insuggested that the big three deductions will all likely be protected in the new effort. he said that the team that's working on the proposal envisions a one-time repatriation tax on offsho

big u.s. banksings season but a bank analyst at wells fargo securities is optimistic about the road ahead. >> we are structurally bullish on banks at wells fargo securities, balance sheets are the strongest they have been in a generation. we have had a permanent structural risk reduction. regulators have forced banks to increase capital liquidity and banks can withstand not just one financial crisis that to financial crisis, based on the fed data. it is not just the risk reduction, we think revenues are poised to break out. a combination of the headwinds. the biggest noncredit headwinds in the history of u.s. banking now over the a few interest rate hikes help, this is before big benefit from lots of rate increases, the regulation, or reflation trade. you have revenues and returns going higher with risk going lower. a paradigm shift for valuation. positive outlook distribute evenly across the sector, particularly with big body banks as opposed to regional banks and community banks? equally beneficia

. >> and i know you have some thoughts about the banking sector in the u.s. again we're back to pre-financial crisis levels in part because of all the capital return story post the stress test i just wonder whether banks in the u.s. can continue to rally with the absence of tax reform i know we're look at a lot of deregulation, but isn't tax reform the missing ingredient here >> i think as you said banks had a very significant rally at the end of last year to me they are still in a pretty good place right now and some of jamie's comments in terms of the fed right now, we've seen for us this becomes a real capital returns story this year. you've seen from regulator is clearly happy with the companies returning more capital shares which is a good thing. i think for banks also keep an eye in terms of regulation so i don't particularly like the term deregulation. for me the fact that you may not see more regulation coming on top of what we have will be a good thing for banks between the capital returns story and the easing of regulation going forward, i think thos

the company has named elizabeth duke as its new ceo making her the first woman to run a top u.s. banks still dealing with fallout from scandals including the admission last september that wells fargo created 2 million potentially fake accounts in customers' names and more recently the bank apologizing for charging more than a half a million customers for car insurance they did need. target is looking to increase business into areas groceries and delivery. the retailer has hired executives from rival wal-mart as well as general mills. the store is also buying tech startup grand junction whose software manages local deliveries. >>> taking a look at your stocks, dick's sporting goods advance auto parts and coach are among the companies that reported disappointing earnings on tuesday. the dow gaining little more than five points the nasdaq losing seven points, the s & p pretty much virtually unchanged but a little lower. stock futures are pointing up however this morning despite yesterday's performance. >> south carolina's attorney general is suing the pharmaceutical company that makes ox

trump'sresident election, ceos of the thighs biggest u.s. banksa campaign called fix the debt which supported higher taxes if necessary. now some of the same ceos are cheering for the president's proposed tax cuts. max abelson writes about it in the new issue of business week. max joins us here in new york. back with us in washington is tim pawlenty, former governor of minnesota, former presidential candidate. here -- swerve here. was we willebt, it raise taxes if necessary but as long as they are deficit neutral. max: it is not that the ceos no matterfix the debt what happens. they had their ideas of how to do it. the difference right now is that trump as an outline of what he wants to do with tax cuts, it has to do with cutting personal taxes, corporate taxes, and then getting rid of the alternate minimum tax, estate tax. even conservative estimate say it will cost of future lien dollars. what i read about in next week's business week, bankers are really excited about it. it is hard to blame them. if the taxes you pay and the company taxes that

areaw how u.s. bank stocks -- until about 2011 or so. an banks did better than that and then things changed around 2011 and 2012 as europe went through a debt crisis. we continue to see some of the struggles there they look for growth and brexit presents a whole new level of challenge for the banking sector there as well. >> recapitalizing the american thanks and the europeans weren't. italy is one of the most conserving once for their nonperforming loans. we started to see them deal with that. i saw a fascinating headline about italy and the fact that they are holding themselves in debt, also one of the big issues around 10-11% of the height of the crisis. bank ind about the bond their holdings. a total reduction in sovereign debt holdings. automatically.it one of the things going on as a result -- quite interesting. yields down. i am talking about what we talked about earlier on in bloomberg markets. look at what is going on with factors that could make in factors -- investors cautious. keyave seen a number of reserve -- key reversals.

bank has named libds duke as the chair and she is the first woman to hold a position at a major u.s. bank. this moves comes as wells fargo is reeling from a number of scandals. duke is a former federal reserve governor. she will replace steven sanger on january 1st. jan and rahel. >> here's hoping it helps the company turn around. we'll see you in the next hour. thank you. >>> we are heading back to the '90s. it's going to be pretty durn steamy out there. >> i think it's one of those perfect pool days. once we get rid of this fog, we're back to sunshine. it's steamy out there and we definitely are heating if you like cinnamon toast crunch then you'll love strawberry... french toast... and new apple cinnamon toast crunch. from our crazy delicious family to yours. crave those crazy squares . >> welcome back as we overlook a relatively clear view here from the central parkway library. you're going to find areas of patchy but very dense fog across the region. that shot that we have just across the street looks all good right now but we are far from all good when it comes to visibility region

the biggest banks in the u.s. and if the trump administration carries on it land for deregulation. the bank, a $27 billion growth of profits. jpmorgan chase and morgan stanley would benefit the most. that is your latest bloomberg business flash. samsung getting its turn in the smartphone worse. the company set to unveil the samsung galaxy. the launch comes out of the much awaited reveal the iphone 8. for more of what to expect, let's bring in salina from samsung headquarters. what are the standout features for the new no eight? >> stakes are superhigh. the last one was recalled after reports of catching on fire. the expectation of that will be a large phone notoriously known for being big compared to the tablet. probably more than six inches in size. expect an upgrade for the camera and several other bells and whistles that will put it .head of the iphone expect it to come out for the coming months. >> i am wondering if samsung could get out and a raffle of some of the features that apple grab some out with, marke

u.s. and chinese banks. you can use u.s. laws time pose fines. 12 billion in fines on european banks, we haven't imposed a single penny on chinese banks. you can seize and freeze assets and declare money laundering concerns. gerri: one other headline we are getting. from jow jones. kim jong-un ordered the guam plan after u.s. pair force flyovers. this is coming from the north korea state media. we'll be bringing you any other headlines that come. the long-term market impact of rising tensions with north korea. we'll break that down. there is a lot of impact on stocks. we'll tell you all about your r 401k coming up. well, because it tells us something powerful about progress: that whether times are good or bad, people and their ideas will continue to move the world forward. as long as they have someone to believe in them. citi financed the transatlantic cable that connected continents. and the panama canal, that made our world a smaller place. we backed the marshall plan that helped europe regain its strength. and pioneered the atm, for cash, anyti

she will be the first woman to hold the top position at a major u.s. bank. duke will be tasked with remaking the culture at the bank, founded 165 years ago. last september, wells fargo admitted that it created 2 million fake accounts resulting in a $185 million fine. >>> it's 4:57. following the violence in charlottesville, president trump is ized for his response. we hear from the san francisco gop next. itbeiccring >> reporter: another freeway shooting on 880. this time, in hayward. i'll have the details coming up. and i'm kenny choi. let's start with a live look outside... >>> good morning. it is wednesday, august 16. i'm michelle griego. >> caught a little off guard there. good morning. i'm kenny choi. let's start with a live look ts e look at the 880 the nimitz freeway and a ramid francisco. >> let me see. is your tie okay, itoks good >> thk you.ig laughter ] st>> just rachecking. ht>> very ? dapper today. >> thank you. >> is that a new tie? >> you look very nice, as well. yeah. i haven't worn this tie in a while. drolobd.e.ttju >>> thi aten's the same w

police say the 45-year-old robbed the u.s. bank this afternoon. that is a brass knuckle tattoo on his neck. he also has a warrant for his arrest. >>> a california cemetery, their family goes to visit their son's burial plot to find out he is gone. >> not right. >> reporter: when the family says they went to visit his grave in rose mead they discovered -- rosemead they discovered he was gone. >> they didn't tell us anything. that is traumatizing to show up to find out the way we found out. >> reporter: he died in 2015 and was buried next to his grandfather. he left behind two sons and a wife. the wife did not have a good relationship with the family. she wanted to hurt them after he was buried so had the cemetery move his body to another section. >> you don't disturb the dead? >> the family is now filing a lawsuit. against his wife and also the catholic arch disies that over sees the sem -- diocese that over sees the cemetery. >> we feel the church had an obligation to notify that it would be interfered with, tampered with. >> reporter: they sent u

accused of having passed hundreds of millions of dollars illegally through these u.s. banks. experts who track chinese companies who help north korea say, this kind of crackdown is critical. >> we can touch them. there are very few pressure points. and we can make a major impact. >> reporter: as for that house in great neck, it's on the market. mr. sun, who has not been charged with a crime and did not respond to our request for comment, apparently decided the american dream was not for him. cynthia mcfadden, nbc news, new york. >>> still ahead here tonight, a bizarre mystery at sea. an inventor rescued when his private submarine sinks. but where is the woman who was also onboard? it's a twisted tale he's telling, and we'll have it for you. >>> also, thinking of traveling soon? why now is the time to book that plane ticket. hope you can stay with us. >>> we're back now with a case that sounds like it's right out of a mystery novel. investigators are trying to get to the bottom of what happened to a journalist who was feared dead after she sailed aboard a private submarine to

duke will be the new a chairwoman next year making her the first woman to hold a top position in a u.s. bank. she'll be forced with remaking the culture of a bank founded 165 years ago. last september wells fargo admitted to creating some 200,000 fake accounts. the feds fined it. >>> the median price of a house in the bay areahains 2012 nelya salary of about $90,000, but now it's up to almost 180,000. that's not stopping some people from buying. in fact, according to the business journal, sales of luxury homes are up 50% year to year. kpix5's devin fehely shows us the fully million dollar homes that are sell -- multimillion dollar homes that are selling fast. >> reporter: this is what nearly $10 million will buy you sawere once something of a mul rarity, all the money generated by the tech industry is rapidly redefining the bay area's housing market. >> luxury home sales, properties selling for $3 more, ll increased ovioer n 54% year to year. >> reporter: in june 78 homes priced at $3 million or more sold in santa clara county compared to 52 the same month last year, a 50% increase, and they

he's accused of robbing the u.s. bank on port chicago highway yesterday afternoon. police were already looking for him before that bank robbery in another case. >>> tim cook is the latest koechlt chief could weigh in on president trump's attack. strong words from one of the world's biggest leaders to his staff and what he said to them and what he's trying to do to bring attention to the issue. >>> uber testing out a new feature that puts the driver in the driver's seat when it comes to where and when to pick up and drop you off. >>> and a live look outside at the bay bridge. you're watching "today in the bay". we'll be right back. food. water. internet. we need it to live. but what we don't need are surprises, like extra monthly fees. i see you, fee, played by legendary actress anjelica huston. you got me, mark. we just want fast internet for one, simple rate. for all the streaming and the shopping and the newsing, but most of all... for the this. internet for one everyday simple price and no extra monthly fees. >>> good morning, we're live at cnbc headquarters. here

mosul campaign that left thousands dead indeed both cities where i saw strongholds besieged by u.s. banks coalition forces just like tal afar now thousands of civilians were trapped inside most of the power of bombs while those trying to flee were caught in the crossfire and those remaining no access to humanitarian aid with food water and basic necessities fast running out we spoke to star as a carvery from the red cross who says telefon may well face the devastation witnessed in mosul. regions of the world of course we see that there are a lot of others to be have been of course that he. needs to learn a consequence what. some very fun loving food water is that it is the one hundred. thousand people who are living below. lehman you know then. nine while being shot. while in neighboring syria over twenty thousand civilians remain trapped in the five i still held neighborhoods at the same. of rocca the un has called for a humanitarian pause that branding this area the worst place on earth with civilian suffering from terrorists as well as the heavy fighting. i cannot think of a worse plac

the first woman to hold a positional a u.s. bank. it is the latest change at wells fargo.e is a former federal reserve governor. she'll replace chairman steven sanger on september 1st. >>> the online giant said its instant pickup is now available in two california cities and is expected to expand to other sites across the u.s. in coming months. customers can order items like snacks, drinks, and electronics online and pick them up at storage lockers within minutes. >>> and if you're a cheetos fan, a three-day pop-up van so of the items on the menu, cheetos meatballs, crusted fried chicken, cheetoes tacos, and cheetoes cheesecake. it is too late to get a table. the 300 seats that were available sold out. we may have to ettle for a simple bag of cheetos. >> that's good enough for me. i'm kind of low brow. i don't need it all fancy like that. >> same here. >> roxana sa berra at the new york stock exchange. thanks a lot, roxana. >>> still ahead, a rising danger on the roads. >> more than 100 people are killed on u.s. roads every day. i'm danielle nottingham in los angeles with

when u.s. bank stadium hosts sup super bowl lii.

. >>> welcome to the u.s. banke, we will get you out o anaheim for the p and g gymnastics championships in moment but, we start with soccer. wembley taking home chelsea who lost their opener a week ago and it will be chelsea who would strike first. scoreless in the 24th minute then a

neil: okay. >> now the u.s. bankse venezuelan companies or with the state-owned oil industry. and that's what's going to hurt them. neil: you know, you're a great guest? you know that. you really are. >> thank you for having me. neil: we're going to follow this closely. darn if a lot of things she said would happen, darn did happen. we are keeping an eye on harvey, right now threatening massive flooding, not so much for the fact that it's close to a category three. that's bad enough, but that when it hilts, it's going to stay around a while. a long while. after this. ♪ ♪ today, we're out here with some big news about type 2 diabetes. you have type 2 diabetes, right? yes. so let me ask you this... how does diabetes affect your heart? it doesn't, does it? actually, it does. type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. and with heart disease, your risk is even higher. you didn't know that. no. yeah. but, wait, there's good news for adults who have type 2

with the mosul campaign that left thousands dead indeed both cities were strongholds proceeds by u.s. banks coalition forces who just want telefon now thousands of civilians were trapped inside mosul and a barge of bombs on those trying to flee will cause in the crossfire and those remaining has no access to humanitarian aid with food water and basic necessities fast running out we spoke to start the car race in the red cross who says telefon may well stace the devastation witnessed in mosul. and the operations have been moving forward of course we see that there are a lot of others to be have been and that is of course that he. will need similar consequence to what the political nothing very fun loving to comply with your furnace doesn't he's the man who is going to get more and the people who are really into careers to lehman you know grand plan nine while being shot at. the u.n. has called for a humanitarian pause in syria's city of raka where the u.s. led coalition is currently carrying out an offensive against islamic state terrorists earlier the organization raised the alarm over doze

and a man under arrest accused of trying to detonate a van filled with explosives in front of a u.s. bank. how investigators say they stopped him. >>> plus, a fisherman reeling in his catch when a great white decides to compete with it. we'll show you the video of the close encounter next. >>> an eighth hole near pasco county. two homes destroyed when that first opened up july 14th. well, a sinkhole now stretches across 260 feet and it's 50 feet deep. >>> turning overseas a girl is dead and 13 others injured after a driver slammed his car into the sidewalk of a cafe in a pizzeria near paris. authorities say the driver's actions were deliberate but not terror related. police say the driver may have been under the influence of drugs and possibly suicidal. he was immediately arrested. the same girl's brother injured in the crash. >>> and an ohio teacher and teacher's aide will miss this week's first day of school after dragging an autistic child down a hallway. the incident caught on camera in crestline involved a 7-year-old. it happened in may but school board members say the boy had become

and he has a lot of financial interest in u.s. banks. and the one thing that upsets vladimir putin the most is the fact that he doesn't want those financial assets frozen in any way. host: you put a lot on the table. we have a lot of calls in. dr. samuel charap is working on a ph.d. in this area. guest: yeah. there were a number of issues there. let's start with the last one. we don't know all that much concretely about president putin's personal financial financial state. there have been some revelations about people who are close to him and their financials but since the u.s. started imposing sanctions which have asset freezes in putin's inner circle, i can guarantee you that they've kept their assets out of u.s. anks if at all possible. it would be foolish not to. the political their presence in syria is most significant in the middle east since the cold war. that having been said, it's modest compared to any number of u.s. bases throughout the region. and syria was not a place where the u.s. had significant influence before this conf

it's not ram random that it was tied to the u.s. banksay and it was all sort of pieces of the puzzle we know that the british pound had a bad week after the boe news that's part of the uups make up. >> what do you say >> yeah, i agree your question it's a good one. do equities stall if we get a quick rebound in the dollar? low rates and weak dollar have all contributed to the fact of the s&p 500 equities are at a high it's been beneficial so, to me, could it act as somewhat of a -- if we get 5% snap back, do equities get killed? >> no. >> it was rising through last year i don't think the change in the dollar is going to have that one of the reasons equities may be an investment is because equities risk premiums are broad. so if the dollar is rising, that would be a reason to pressure equities more than a 5% spike in the dollar would >>> another big story. financials are on fire posting their best week in more than a month. the financial etf hitting its highest level since december 2007 today bank of america, morgan stanley, jp goldman, ci

u.s. probe into violations of trade sanctions. france's number three bank increasing legal provisions by 300 million euros. it didn't actually specify the high legal charges. in line with estimates, shares down by 3%. setting the bar high for french investment banking and asset management rivals. net revenue at the global markets division soaring about 20% in the second quarter. it has taken about 9 billion euros in new moneyit has taken n at its asset management operations globally. net income also beating estimates. the company's expansion into asia and the united states. trading revenue by the way compares with a drop of almost 10% of the top five u.s. banks in the u.s. in the second quarter. again,g with banks reporting its weakest link -- weakest quarterly revenue. commerzbank shares down by 3%. it's a bank heavy day again. vonnie: yes it is. it seems like most are bank heavy days. we will be diving into some of those stories and a little bit. his volatilities vacation about to come to an end? bloomberg going back 20 years shows august has brought the

campaign in nearby mosul which left thousands dead the two cities where i saw strongholds besieged by u.s. banked iraqi forces thousands of civilians were trapped inside both taliban and mosul under constant bombardment and many of those who tried to flee were killed in the crossfire while those who remained quickly ran out of basic supplies and regions have been moving forward of course we see that there are a lot of others have been of course the people in need similar consequences to what to look for nothing different on the love food water and is that the ease that people who are leaving deal with lehman you know then. nine while being shot. people in pakistan have been denouncing donald trump after accuse the country of harboring terrorists crowds took to the streets of karachi on sunday chanting death to america and try to make their way to the u.s. consulate islamabad earlier rejected trump's allegation saying no country in the world has suffered more than pakistan from the scourge of terrorism the statement went on to describe washington stance as disappointing as it ignores the enormous

and a man under arrest accused of trying to detonate a van filled with explosives in front of a u.s. bank. how investigators say they stopped him. >>> plus, a fisherman reeling in his catch when a great white decides to compete with it. we'll show you the video of the close encounter next. two thirds of americans have digestive issues. i'm joy bauer, and as a nutritionist i know probiotics can often help. but many probiotics don't survive your stomach's harsh environment. digestive advantage is different. it's natural protein shell is tougher than your stomach's harsh environment, so it survives a hundred times better than the leading probiotic, to get where you need it most. also in delicious dark chocolate. probiotic bites! >>> an eighth hole near pasco county. two homes destroyed when that first opened up july 14th. well, a sinkhole now stretches across 260 feet and it's 50 feet deep. >>> turning overseas a girl is dead and 13 others injured after a driver slammed his car into the sidewalk of a cafe in a pizzeria near paris. authorities say the driver's actions were deliberate but not

residents in these camps that they said that some of these these refugee camps are being run by the u.s. bank syrian democratic forces but the s.d.f. have denied that he was right here well what's true is that the as the earth has imposed restrictions on freedom of movement of of syrian civilians that fled and that is where that's for sure and that's something we are engaging b.s.d.'s and indeed the u.s. and others on. let's move on to the liberation of the iraqi city of mosul if we we may if now widely reported that this city is in ruins in your opinion how long will it take to rebuild this ancient city and allow civilians that to live something resembling a normal life. well the rebuilding is already happening and the most important force to rebuild the city is. the people themselves the people of mosul like the people of aleppo and many of these ancient cultural centers are extremely resourceful themselves however there needs to be a massive investment from from international and national sources to rebuild the infrastructure. large parts of mosul is to the ground. which is sewage systems

u.s. we have these litigations. we try to put that behind us as quickly as possible. >> investment banking difficult for some of yourivals in europe and also the u.s. makes the bank more able to offset this difficult market environment? >> what we saw the second quarter is for example, this activities on the slow business, investors are more in a wait-and-see mode. bentley benefited from product activity. it was a pretty diversified business, which i think is well-suited for the new regulatory framework. we are able to make progress with our clients, to make progress in terms of profitability, thanks to all the assets we've made. mark: that was part of caroline conan's exclusive interview. vonnie: the white house just releasing president trump's full statement on sanctions bill against russia that he signed into law. he called it significantly flawed. he said quote, in its haste to pass legislation, the congress included a number of clearly unconstitutional provisions. for instance, though i sure the policies used, those provisions purport to displace the president's exclusive constitutional authority to recognize f

and telephone is the latest objectivity in the u.s. bank war on islamic states it comes after the recapture of mosul. campaign that left much of the city in ruins of the operation to liberate which has been on deisel control for three years as a little to ease the suffering of civilians as the explains. downtown mosul or what's left of it and now is drawing west. side out flaw the new ground zero in iraq and that huge a rocky army backed by u.s. led coalition air power is facing off against isis which has been entrenched for three years and brute sides are throwing everything they've got. trapped in the middle of thousands of videos who think there's a stark choice still risk being killed in a coalition air strike while being used as human shields by isis or make a run for it. you aren't in the crossfire but you do make it through the desert the most in this heat. isn't an easy choice. we are hungry we need clothes we need food and water yesterday we get contaminated water even the animals one drink it we're living in terrible conditions th

all international financial transactions are denominated in dollars, therefore have to go through u.s. banksrean transactions as well as chinese banks and businesses engaging in north korea. they are using correspondent accounts or their own accounts in the u.s. we've been holding back -- connell: if we do that, sorry to interrupt. if we use banking sanctions, and obviously maybe this is why we haven't done it yet and only do it if it's something we need to do, but hurt our financial industry too, right? >> well, i would argue why would you not enforce u.s. law? why would you not protect the financial system against criminals, whether they're chinese or any other entity. and what you presented to as the secretary treasurer did when we sanctioned the one chinese bank, we're not saying the chinese government is complacent, we're not behind, it we're enforcing our own laws, why would china take umbrage at that if we are enforcing our laws. connell: you would wonder. i guess the final question is, do you think we have enough at our disposal from everything you've outlined and talked about that t

equity sectors for the rest of helenar, we will talk to driver, who says there are opportunities in u.s. banksil. and why is mario draghi being quiet about the resilient euro? we look into how it currencies strength may impact the future of qe, especially as meetings get started . -- next month.

u.s. is the same. i do not think there is an anticipated distribution on the market. bankre a french a substantial exposure to the u.s., what is the impact on your business from plans for deregulation in the u.s. and are you concerned about a different and on the regulatory agenda across the atlantic? think we do not, we are not doing any trading where we have our own trading, we are trading on the back of our clients. the change in regulation is not going to affect us very much. it is a good time for all regular readers to step by a little bit and we have done a lot the few years to step back and save let's look at the impact of what has been done which has been very important. the factood timing and that the u.s. are taking this position is also a reason for their european to have the same which is not to deregulate but to make a stop to the regulation, have a look to what impact it has on the global economy and the global banking system before doing any further changes. i think this is a good thing because global banking sector needs a little bit of stability. our u.s.

as you know, u.s. banks and insurance companies face significant barriers and restrictions in china, while chinese banks and companies have little, if any, barriers in the united states. i want to thank you for your response to this letter and your promise to continue to press for these restrictions that unfairly disadvantage american firms. what are the next steps that you plan to take to help lift these foreign equity caps that harm american companies operating in china. >> so let me just first comment that i've had the opportunity to meet with president trump and president xi two times, once in mar-a-lago and the other in hamburg. i also had the opportunity -- we finished our comprehensive economic dialogue. first i think as you are aware, president trump is very focussed on having a more balanced economic relationship with china and has made it very clear that the current trade balance is unacceptable. i think you may have seen in our press release from the comprehensive economic dialogue last week that

if you're coming from guyana to study at oxford or harvard, the u.s. banks without a credit record. the u.k. banks will not look at you. you are basically someone with phenomenal potential has no access to funding. our challenge has been scaling the funding we have to lend through our platform. we are a fairly classic fintech platform in that we are making loans to international postgraduate students which are funded by investors. those include alumni from the universities, and more recently large institution which is our , a first institutional round of funding coming in. this $200 million of debt will be used to expand the number of students we are able to fund. we have a situation where we have a huge amount of demand to cover and a challenge in scaling up the funding. this will be directly used to increase our ability to fund more people. caroline: what sort of returns are you talking about? how does the student go about paying it back? what sort of interest rate do they pay? >> typically it is a range of about 5% to 8%. the return to investors, we disch