ceo in 45o ubs minutes. in charge in china, he strengthens his grip on power ahead of leadership changes. brexit blues, several the reports show uk household starting to feel the pain of the referendum results. welcome to bloomberg daybreak europe. earningse a feast of for you this morning. income is coming in at a billion euros. what we are looking at is third quarter revenue coming in at a beat as well. 41%. quarter revenue up >> if you look at -- 50% uplift business-- he stole from the americans. the banks are front and square. -- they havel -- thed third-quarter market was looking for 4.42 so that is a miss. volume a little bit better than the market had been expecting. they had been estimating a drop of 1.5%. the top line revenue generation, that missed as well. 11.4 is what the market had penciled in for that. they're planning to cut 3% of the workforce. it is a top line miss for them. was -2%.rowth that is a shocker. let's talk about ubs, the world's biggest wealth management company. that is a slight

and ubs don't see that going away any time seen. a bright spot here, given the challenges of negative rates, is what they're doing domestically in switzerland. if you look at their personal and corporate part of the business, they have the best quarter since 2008. i think this is a bright spot. of course the dividends. some concerns out there for investors that perhaps the dividend could slip. they have been talking about 60 cents. when i spoke to the ceo he reiterated we're still on track with that. that's giving investors comfort today, too. as you mentioned, a rise in provisions for litigation of 490 million swiss. this is important because ubs has also got outstanding u.s. mortgage related litigation issues. and this is what i picked up on with the ceo. i said to what extent of those new provisions to do with mortgage related issues. listen in. >> the vast majorities are nbs related matters. we have different exposures we've been working through over the last decade now, and still ongoing. that's the vast majority of provisions.

singapore isn't losing financial penalties on ubs -- is in posing financial penalties on ubs. failures andous anti-money laundering controls on improper conduct by senior management. we will keep you up to speed with these headlines. shery: we are 30 minutes away from the opening in china and hong kong. singapore and malaysia have just come online. we do have some positive sentiment from wall street. >> markets are tracking higher. dbs in just aon bit. we are following samsung closely. if you take some sung -- samson out of the equation, it would be much higher than it is. what happened yesterday, it fell more than 4%. thatflow not in favor of happening. taiwan is reopening as well. buyers, potential buyers, a very segmented of the market? will they shift to the apple iphone seven? markets in the asia-pacific are on their way up. gains on wall street as well. japan trading for the first time this week. the other market we are following his thailand. something to watch. what else are we following? dbs. are we getting any sort of reaction? not exactly the biggest fine. these are

mark: and ubs, lower cost. do you focus on that was the fact that we had a drop in the investment banking unit? elisa: even the equities had a miss that was greater than expected. mark: this is the chart right here. ubs equity trading revenue down 16%, worse than its u.s. peers. elisa: the focus again on cost-cutting and now you can get that cost lower so you can weather an offset in a very difficult environment. driven by new money strong inflows into the asia-pacific and switzerland, partly offset by net outflows in emerging markets in europe. net new money was up in the period. elisa: very much within the range they are targeting. they pointed to a single china inflow, which is interesting. i think the net new money is a good sign, but you saw transaction volumes and fee income and interest income coming down. this points to potentially a protracted paycheck of difficulty. mark: is the fixed income gains sustainable? the u.s. players had a big leap in fixed income. barclays was close to that. is it sustainab

anthony: joining us is former ubs banking president robert wolf. he served on three economic councils for the administration. monday the economy was the major focus. let's take a quick listen to what donald trump said. >> we have the worst revival an economy since the great depression. and believe me we are in a bubble. the only they can that looks good is the stock market. but if you raise interest rates even a little bit, that will come crashing crown. we are in a big, fat ugly bubble. anthony: mr. trump suggesting we are in a bubble. do you think we are in a bubble? >> i don't. the housing market has come off a little and prices are off in some areas 20 to 30%. the stock market feels a little soft but i wouldn't say we are in a bubble. the monetary policies concern me. i'm glad we are going to have a discussion on where the fiscal politics should be. liz: it seems his comments were targeted toward janet yellen and the federal reserve. we have had people say there is a junk bond bubble and people worried about other types of bubbles. the inflatio

michael, ubs is interesting.t has changed its business model away from invest in banking, which is great, except for when you have a call for fixed income doing well. >> yeah. it certainly benefited them over the past few years. it is trading at a premium ou don't see at many banks, or at least not over the past year. this quarter was one where you wanted to be in the fixed income trading business. certainly they missed out on that, but equities didn't do quite as well as the big arrivals like morgan stanley are goldman, so you didn't quite get the boost that a lot of the banks did. guy: when you look ahead to what happens next, give me a sense of how the business -- what is going on in fixed income right now, and in foreign exchange, what turns into a good q4? >> markets look for trends. there has been a tendency for markets to look between meetings, rather than looking at multiyear, multi-month trends, which is historically been a key drag. once we get some clarity about positive divergence, how fiscal policy f

is it ubs, wealth management? >> i think the first point to -- there are certain elements of the european banking sector where i think further consolidation and restructuring, mainly in the german market and italian market, there's still more work to be done. i -- think therefore investors e to be concerned that further capital will need to be raised. i still don't have the risk appetite to go into the german or italian banking sector. in europe, i think we have seen very strong adjustments of balance sheets and p&l accounts, and arguably you saw that with the paribas results today. and in addition the spanish banks. i think moving back into the banking sector, which has underperformed very significantly over the last for five years, i think taking profits on american banks, moving into european banks, but your focus has to be france and spain. guy: how big a risk is there, that we have a problem? tbe it boj driven or something else? the italian referendum coming up, which can throw the banking story offkilter. we

francine: you said recently that ubs is ready to expand during any turmoil in the market. sergio: there is a level of complacency around the numbers macro themes we are facing and the geopolitical risks we are facing. are sustained by liquidity. that's the reason the market has despitete constructive these challenges i just mentioned. so, liquidity can freeze very quickly, as we have learned in the past. what concerns me is a --vergence of assets francine: would there be some sort of crisis? rick: what could -- sergio: what could trigger an event and a selloff or beginning of correction? is it coming from the macro front or the geopolitical front? we don't know. there is a level of complacency and a sense of, ok, we are used to it. eventually, some of these issues we are facing the to be addressed. francine: would a donald trump presidency be a possible catalyst? it should be a shock. sergio: we don't know. those kinds of political events are unlikely to make big changes third i hope wins there is a possibility to unlock some geopolitical themes with a new administration.

he is the ceo of ubs.. >> thank you. >> at a time when we are all wondering about the health right now of the european banking sector. what are you telling people? >> well, look, the european banking sector is quite sound. we made huge progress in the last seven, eight years in addressing, you know, not only the capital position of banks but also developing of better business models and trying to be sustainable. of course the macro environment is not very constructive for banks. at low rates, negative rates, you know, putting a lot of pressure on profitability and all the rest of the story -- >> how can you say that the european banking sector is quite sound when last week we were all wondering whether the german government was going to have to come and bailout deutsche bank? >> i would look at situation as being good proxy for the entire banking industry. i think it's matter of capital and increased seven, eight times in the last years. there are some issues where that needs to be addressed in europe. but

if i look at ubs, we have over the last four years raised $5 billion capital, we have basically paid out $7 billion of dividends to our shareholders and we paid $8 billion in terms of litigation costs. so the balance, and at's in everyone's institutional interest, is you need to have a balance between building capital and preparing the bank for the future and settling your legacy. it has to be done. and we did that because we moved early, we got out of businesses that were no longer profitable and we focused on the things that were profitable. that's why last year we had a $6.5 billion profit. if you have no profit, if you're running low profits, you cannot build capital and settle the past. so it's very much up to every clause of every bank to focus on the right balance between settling the past, being profitable now and building the bank of the up too. and i think european banks have a problem in the sense that many of them are still in the transformational business model to reinvest and ensure shareholders that are at the core of the franchise that they have the capacity to earn.

another serious issue with ubs. ubs gave bill clinton money for a speech donated to the clinton foundation. we also know that ubs at that time, gina, had a problem, basically the irs is going after the bank to release about 55,000 secret bank accounts and -- swiss bank accounts, they had to turn over less than 4500 bank accounts, information about them. what do you make of that? >> this just all smacks to me of exactly what we learned early on with these wikileaks where hillary clinton talked about her public versus her private. in other words, her public versus her private message. in other words, she said to wall street, to goldman sachs and to anyone out there who knows how hillary really functions as a leader, she said don't worry about what i say to get elected. only worry about what i say to you. i think that is the m.o. of this regime, and it's what we will see if she's president. it's literally horrifying, i don't think there have been any -- liz: hold on a second, the associated press looked at this jessica

ubs was being investigated by the justice department. it required over -- helping its customers evade taxes in the united states. it requires an agreement between the state department and the swiss government in order for the justice department to get some of those records. you know, when they talk now about -- you know, and alan talked about the future. this was -- you know, these were issues while she was secretary of state. >> okay. i want to get douglas in. douglas, how much damage do these hacked memos do to the clintons? they seem to reinforce many of the concerns voters have about them. >> well, it does some damage, but it seems like a document dump, an illegal one -- meaning wikileaks -- about people hacking this and dumping it right before the election, i think the wikileaks people are russia, thought it would be an october surprise, but with no smoking gun it has a taint. it puts a taint on the clintons, but things are running fast. we have 11 days. the news cycle is moving, and this little -- these internal e-mails just aren't

i can only talk about ubs. ubs has been in a similar situation in 2008.we rebuilt the blank, reestablished our market in switzerland and i think it is very important that everyone does their homework and focus on capital, liquidity, focus on resolution and it's each banks' job to get to a better place and all of us are working on that including deutsche. maria: ubs has seen tremendous growth in the last ten years. now i know you're launching a new fund called impact investing. tell us your strategy? when we spoke last, you were talking about expanding the wealth management business and that's what the company has done. is that still the priority axel and how do you continue raising that profile? >> absolutely. it's still the priority and if you look at where we are, for example, we are the number one dow jones sustainability index leader for the second year running. made them rich and which are their economic fortunes, also requires you to help funding medium-sized corporations and raising funds further at the moment like impact investment or gross fund f

a ube videthorese the g hi for destroying and-- check z25koz zvpz ou??w< y25koy yvpy a man dressed as a city construction worker destroys donald trump's star on the hollywood walk of fame. he took a sledgehammer and a pick- fo n yi to stauction it raisano umf caustheiturbcharair pumps recall covers certain 2007 to 2009 legacy and outback vehicles, some 2008 to 2014 imprezas and certain 2009 to 2013 the air pump can fail, causing it to run continuously. if it overheats, it can melt and catch fire. subaru has received reports of two fires, but no injuries. american airlines en aofn busin nirlesre granted k. permission to begin scheduling commeralfligs to the island this fall. american airlines was award 35direct flights week. jet blue, permission to fly to cuba. most will begin service later z25kkz zvpz thanks for joining us at 4-30. the news continues with live at five. next.. heavy rain and wind the theme for today.. john malan shows us when the weather calms down, and clear skies return.. live at 5 is now. right now at five: a record day for ?rain? in t

to their point at ubs, i think it is an argument to be made at ubs that cbs is in a very strong positioniatingwise. perhaps mr. moonves is in a strong position in terms of getting certain things to begin negotiations. both sides have to fire financial advisers, they have their lawyers already working, though, jim, and we'll see. the basic would be, listen, you're going to get enormous potential synergies and cost savings and the question would be what price can you buy viacom at. we'll leave that to them to figure out. they haven't yet begun. >> you know what's also interesting, they have raising numbers, ubs, talking about the scatter market being good. we never talk about abc and disney. is it really possible that what's happened here is that this stock is very undervalued simply because people just believe that broadcast is done. obviously blaroadcast is alive d well or you wouldn't have this upper hand for moonves. >> it's interesting. a recent survey on people unbundling or looking for a skinny bundle. they were asked what are your top networks? hbo was number one and the next three

ubs,shows the ficc for db, and barclays. this could be a land grab situation. the other thing that came to my mind was, this quarter has been quite a precipitous quarter for fx trading at ubs, for fixed income trading. i just wonder, are these models still built for business, really? >> well, the third quarter itself so i pretty interesting turn with fixed income markets. we initially started out with the projection of lower bond yields, which were shoved lower because of brexit. but in august, we saw higher yields. that is a mixed story for banks. their markets and bonds are not necessarily -- bear markets and bonds are not necessarily a good thing, but that interest margin does improve with steepening yield curves. helped, to the extent that folks are counting on the underlying business model being helped by a bigger spread between long waves and short waves. manus: we will carry that conversation forward with staley and ermotti tomorrow. the underlying story on banks, and this is our trade minister in the united kingdom, saying the u.k. weighs a new model fo

with me now is paul donovan at ubs wealth management in london. to talk about inflationary pressures? clearly this excludes markets like japan. already there. almost every inflation measure in the night it states is at or above its 20 year average of the moment. headline rate has been kept down, but that is just oil prices. most prices in america are a 20 yearsing with average. japan has an inflation problem as well. the proem in japan is consumers believe inflation is roaring ahead. so that is changing their behavior. the perception of inflation is coming through in the global economy. haidi: obviously that is shaking off the deflationary mindset that is perusing to be difficult in japan. -- proving to be difficult in japan. >> they think their wages are going down, so they have a deflationary wage mindset and an inflationary price mindset, and that is the critical problem. standardink your real of living would drop by 5% next year, you will be reluctant to go out and buy a new car or poorly money, and so that is really the problem. the boj talk

bit ofs come as a little a surprise even though ubs was being probed.act they were find is surprising. -- fined is surprising. they are very sorry. let's see what happens next. did it impose penalties on other institutions here? yes, as i said, they find -- fined ubs, and falcon bank as well. , singapore is it being quite heavy-handed. central authority is also getting involved. they came out and said falcon has done this and this that was wrong. you can expect some more fines and movements from the central authorities coming up as well. angie: what are banks saying here? generally, they're very sorry, which is what you would expect them to say. to truth is, when it comes 1mdd, this is a never-ending saga. it just keeps giving. i would not be surprised if there are more banks involved in the future. no names have surfaced yet. the department of justice in the u.s. continues to investigate, and authorities in singapore continue to investigate. there will be more pain for the banks. angie: i suspect sorry is just the beginning. thank you so much for that.

one clinton foundation donor banking giant ubs paid him $1.5 million. a lot of the speeches were alongside george w. bush. a lot where they appeared together. >>> the democratic national committee accusing the trump campaign of illegal voter suppression. saying the election is rigged rests on fabricated fraud in the nordic communities. they are giving direct support to trump's claims in violation of a long standing legal settlement aimed at banning voter suppression activity. >>> overnight. a flip flop from the important member of congress on donald trump. or a flip-flip. after the primaries. jason chaffetz said he would support trump. then after the "access hollywood" tape came out, he said he would not be able to support trump because he would not be able to look his 15-year-old daughter in the eye. i cannot endorse him, but i am voting for him. hillary clinton is bad for the usa. >> i have never seen an election season where the needle has to be thread so carefully between i will not endorse, but i will vote for. >> a lot of the people said no, no. i

nctrseenelrajoor n hbr takeot est pao ch fuldepasandlaoda rtaalin d ao seueoy hergmio vieeni rrpouea ntmea n ubes ao noebiao sap eo earrabajao r a ivsid n conoda covoelsa stemae universiad p rtincouere q s qtee larios befios mpito ra lo derentetraj qfreny reroqu ovn ban creo nt sars befios melissa ocara elaliorodidest abadeadntrris n ste uese primamte 22 las por ra uedree ques es almante ede n otpoqu aa ise en sre la sitciquenntan escfamte srajarehian. an --nancstrelaue inn tien50 puns q donald ump entre s taes lin. akvo -etoeg u euea hea t nuest cadenheana "n",'wl re jrn'' temdo -- sdemutrquel7 oriento olanot ms prpeos varora candatdera copadoonl pcito qu ayal puico. -a s 5:30uero comñero rdyernoos ae erertcole sobre sts nnas too sa --elerr lto ba prsidencl tepo innirles ml19 dectreorelun 4-- kes/an ds rresar yneo ta --parallo debe s ciudano toudee semar 18 aÑ ded. --laec ltes te4 ocub. laa -- pme tmea lemra hcaado estra elaahdendo sienga elri ail d reidte akvo --siemrgenlamtaÑas deana uz, lsuins stteelro pqula fuees pripacione n igaddeav yad deroasuiid e nso lzo. -rormoquloteen quar esiad a r

ubs is getting fined for 13 breaches. dbs fined by 1300 thousand dollars.n received the heaviest penalty. more than $3 million u.s. in fines. it was also ordered to shut operations. its branch manager was arrested. piano finalizing the assessment on the standard bank, so investigations are not over yet. >> big news out of south africa. the finance minister will be charged with fraud from his time running the nation's tax authority. what has happened? >> some details have emerged into what the summons was about. the national prosecuting authority said that the charges are related to the finance minister allegedly authorizing the retirement of a colleague that resulted in about 1.1 million rand of fruitless expenditure of government money. this came out this morning. the finance minister saying his lawyers will respond shortly. we are also waiting on a statement from the national treasury. >> i want to get your sense of the political pressure exerted on the south african rand. many of us waking to the news the south african finance minister will be charged wi

let's welcome john -- head of rate strategy at ubs.'s start with the latest data and then we will broaden things to the politics. the bank of england saying that demand fell in the third quarter. the buy to let side of things fell the most, since the credit conditions survey, at least 2007. >> this is all tied up and the uncertainty that was triggered by the referendum result. in uncertain times, you do not get a tendency for people to increase their desire to borrow, to expose themselves to uncertainty, to circumstances. to a degree, i think this is unsurprising. we suspect we will see much more of it as the e.u. exit unfolds. anna: what do you think about the latest comments from donald only salt and, vinegar. we get the tough talking from many in europe. quite struck by one of angela merkel's spokespersons talking about their will be no full access and a single market without full freedom of movement. does the truth lie in the word "full"? since the cremaster talked about the signaling of article 50, things have started to get more

according to police, the ub iver suffered a torn aorta, but was able to give officers information before being taken to surgery. records show the driver of the s-u-v has been bookein jail on pending charges of past for operating a vehicle under the influence of alcohol and a controlled substance. in the newsroom, steve chamraz, today's tmj4. more news now: milwaukee police respond four homicides inside of 24 hours. the most recent happened last night near brady street. shaken neighbors in that area say they feel like crime is increasing.rikki mitchell is live near brady and arlington after talking p kayla bauske so far this year -- police in district one -- which includes this neighborhood -- have responded to two homicides -- both happened on this street just one block apart. found dead inside a home on arlington place last night. police are still investigating how she died -- but have taken two men into custody. generally feel presa the block wherboth recent murders happened. she says she has ust co morearhat yoe g anwhe yore g other neighbors also feel like crime has increased in the

chieft: simon smiles, investment officer for ubs. thank you for joining us.round two for donald trump and hillary clinton this sunday evening. what can we expect from the second presidential debate in a town hall style? this is bloomberg. ♪ obtainedhington post and posted a video of donald trump recorded having said something extremely lewd with billy bush, the host of "access hollywood" about women back in 2005. alex joins us now to talk about the incident and the apology and is it a big deal? is this a big deal for donald trump? binders full of women from 2012 and what damage that caused mitt romney? i think this is binders full of women on steroids. there is really disgusting stuff he said to billy bush in this audiotape. joe: he talks about the benefits of being a celebrity. you can do whatever you want, including grabbing women in on certain anatomy. this seems really bad. where do we go from here? alex: he was already struggling with suburban women voters like in suburban philadelphia. i don't see this helping. his already low chances will probably get

ra la tarde subiral rmet, permanec l ub.oche esperamos temperaturas elos rang : 50's ============ comusted be en nuesa ea gerafica tenemos poro menosinco microclimas. y s temperur mimas e la bahia norte temos:6 laahia sur tenemos: 76 laah eteemo: 72 la costa tenemos:9 los valetenemos: 75 ============= aha hablos de lo que podemos eserar ecuto a l temperaturas minim. la bahia rttenemo 81 la bahia sr tenemos: 82 la bahia este tenos : 7 la costa tenemos: 74 los vallesenos79 ================= ponga enionorque a contincione tempuras raas sajose: 79oaklan 7ea bia san francisc 74 saa rosa: 8ntcruz: ha moon y: 7 mota v 79 nta clara: 79=========== topvo paa -gcias lrea, recuerde tom s pviones en recomiendan no excederosde lmites vocida revisar las condiciones de sus netis, encender las luces y smp ur su cinturn de segurid. ---para rortar emerncias llame a la patllde minos al 1800-835-5247 paolats --esde que cenzaron las torntas la noche del juev.. ca 1- mil usuarios de "pg& sufrieron fallas eris el areae baha.. ta v -segn la agencia

filming for the new seasonnbut it is ub clear if this new footage would make it in the new series. >> the crew covering the rest of the kardashian, mom, and sister kourtney and kendall. producers have not said how or if they'll address the robbery. >> meanwhile, courtnny and kim's best friend did snap chat in the concert but they are careful to not to include kim. media since the robbery. it was a less glamour kim that we are used seeing. hair slicked down. dressed down in black. she snuck out the back entrance as soon as the show is over again with kanye by her side covering her face. for the most part, kim has remained in hiding. since the paris robbery three weeks ago. the last time she stepped out on monday. just days after her birthday she was spotted geeting ice cream with jonn,atha low keyed in an over sized hoodie and sandals and wearing only lip gloss. bodyguard present. >> it is slowly getting back to normal. it is good to see her out and about. >>> will we ever see kanye doing "carpool karaoke"? last night belongs to lady gaga. happened before they got in the call. >> tonig

the memo notes one donors ubs hired bill clinton to give several speeches for which it paid $1.5 million. you pointed out he was side by side with george bush. >>> the democratic national committee is accusing the trump campaign of voter suppression. the dnc says the trump claims the election is rigged rests on voter fraud in minority communities. the rnc is giving support to the claims aimed at banning voter suppression activity. the rnc calls the lawsuit meritless. >>> we have zach wolf here with cnn politics digital to speak more about the campaign. >> good morning. >> you saw the events. the first in washington. the ribbon cutting of the hotel which has been open for a year. six months or a year? dana bash caught up with him. listen to that exchange. >> i'm going to north carolina right now. then i'm going to florida and new hampshire. for you to ask me that question is very insulting because hillary clinton does one stop and she goes home and sleeps. and yet you ask me that question. i think it is a rude question to be honest with you. >> to be clear, the question she asked is why a

high: 60 toss back to m the man driving an ube..injured during a hit-and-run that killed three women... is out of the hospital. according to a "go fund me account" set up in his name...tim snyder was released saturday night. snyder suffered severe injuries in the crash. the man accused of ?causing? facing 12 felony counts. police say he was going more than 60 miles an hour when he ran a red light.. and crashed into the car. car.we have a link to snyder's go fund me page on our website... cbs 58 dot com. a candlelight vigil will be held this week to honor the memory of a sheriff's deputy from wisconsin killed in the line of duty over the weekend. 33-year-old deputy dan glaze was found fatally shot late saturday night inside his squ on a suspicious car in a field in about 10 miles south of ladysmith. the suspected gunman is doug knee-tek, was arrested at his home about 11 hours later. he surrendered after firing one shot at deputies. the vigil is scheduled for 6-30 friday night at memorial park in ladysmith. new at noon, a semi truck wound up on its side this morning in oak creek.you se

the some of the ub ushs may barrelly git get up to the 60 degree mark and it's possible lehigh valley doesn't even get there. and then during the night tonight, it's still kind of windy. as the front comes through, so it will not be that chilly. but tomorrow night is a different story wooechl see how cold that's going to get and if we're quoing to see rain this week in just few minutes. >>> an ongoing battle between ub ber, lyft and the city philadelphia could be coming to end. lawmakers are expecteded to vote today on making the ride sharing services league. last week, a law was passed legalizinging the rides. uber and lyft drivers rb giving people rides in pennsylvania for year, but illegally. the company has a temporary deal with the city, but that's expired. a judge ruled it was okay for companies to give rides in city, but the philadelphia parking authority has been ticketing drivers. >>> time now for a check on the roads with jessica boynton and what are you seeing? >> we're going to start on the blue route. we are watching an accident that's causing major derays on the southbou

ubs is trading in strong territory at .98%. credit suisse is trading at .65. so it's significantly lower. one of the big issues is the growth. and two, what valuation metrics should we value the country? >> you see all european banks around here -- i wonder whether it matters whether you invest in original names and there's so much risk. perhaps buying the broader index would be a better way to do the trade. >> excuse me -- what do you think? >> well, i like banks. >> individuals or the index? >> i start with the index. the european banks i like because with a steepening yield curve you get a benefit. i think secondly people forget about the cost savings that will be delivered to retail banks. because again, we see companies much more digital. companies that need fewer agencies, fewer branches and fewer employees in physical terms. so just as analysts take over in retail, banking is going electronic. that will deliver a cost savings in the medium term. >> i am just going back from the emerging market expertise, how much should we be concerned about a very aggr

financial giant ubs, he said, agreed to a series of speeches worth $900,000. the british firm barclays shelled out $700,000 for two speeches. and for-profit university chain laureate international paid $3.5 million a year for what band described as a foundation relationship that evolved into a business relationship for president clinton. >> thank you so much. >> reporter: band wrote the memo in 2011 after chelsea clinton foundation donors to drum up business for his new corporate consulting firm called teneo. band argued he was not only the foundation's chief fund ra-rais but had arranged more than $50 million in for profit activity for president clinton including in-kind services for the president and his family for personal travel, hospitality, vacation and the like. band complained he was being scapegoated. is far more conflicted every single day in what he does and gets many expensive gifts from donors. >> you are very carrily quoting from wikileaks -- >> reporter: hillary clinton and her aides have consistently refused to comment on any of the hacked e-ma

. >> mol, you're never going to meet a cute guy at the chub ub. >> empowering and loving yourself on and off the set. >> i've never let it predict my ide identity. we've all got our insecurities and just get real with it and walk through it. we have our shocking new secret. >> it was kind of a relief for me. >>> a dancing favorite talks about the terrifying car crash that nearly took his life. >> how did you walk away from that? >> plus -- >> come on down. >> why your favorite daytime stars are becoming "price is right" models and we are on set for the crazy crossover. it's kind of fun for the fans. >>> closed captioning provided >>> celine dion says she only kissed one man her entire life, her husband renee. >> the only man that i kissed. the only man that i loved, yeah. >> the only man you kissed? >> i never kissed another man in my life. ? ? >> when i sing on stage i still think of him. on after his death. this weekend on "cbs this morning" celine will open up about her life after losing rene. >> when he stopped suffering i said to myself he's okay. he gave me so much tools to kee

ubs gave them $3 million, $4 million, $5 million donations. >> does that put emphasis -- >> the worst i believe is the uranium one. the uranium one is very complicated. the simple part of it is she agreed and had to sign off on 20% of our uranium being sold to russia. what american secretary of state at any time since the second world war would agree to giving russia uranium. none. >> it's insane. >> except one whose husband got big speaking fees, whose foundation got multimillion dollar donations from the people who made money from that. >> didn't podesta have stock options and he transferred it to his daughter. >> he made a fortune from it. but that's sell out the united states. that's not just bribery. that's selling out the interest of the united states. >> here's my last question. >> they have taken two sacred departments of government that haven't been economically corrupt, the state department has its own problems but not economic corruption and they've turned them into sacesspools. >> i think the amount of support for donald trump out there is surprisingly strong. it remains s

ubs joins us.from great to see him. he is a marmite fan. when it comes to cocoa puffs, we will get to that later. for the u.k. consumer, there is a beginning of the understanding that brexit will have consequences. george: it is early days. a lot have been going abroad this summer as a lot of us do. and getting money changed at the airport. we heard he seen a bit of a shock. i went to italy a few weeks ago and i got parity with the commission charges. and a lot of people will obviously know that the declining sterling is making holidays more expensive. row between tesco and don't think there is a lot of import content in marmite but it is indicative of the fact that the 50%-60% depreciation of the pound since the 15%-16% depreciation of the pound since june is a shock. so this is the beginning of greater awareness. it remains to be seen but this certainly is the beginning of an awareness. brexit costs money. guy: that is what rights it means. it costs money. -- it doesn't need to consult parliament. we haven't really gotten into the constit

nancy lock while caught up with the ubs ceo sergio ermotti.ighed in on deutsche bank and whether or not the european banking system is broken. >> financial markets are now of theable in respect soundness of the banking system. of course, we still need to go through all of these challenges we are facing on the macro front and also geopolitical front. negative rates, how much do they hurt you? ,> they hurt us in our respect generating revenues on our deposits. very long inventory of deposits, our clients are risk-averse. so they go into cash. that is punitive not only in terms of margins, but also capital consumption. is a real challenge, a double whammy we are facing now. francine: deutsche bank is one of the biggest concerns. how many times are you asked why you are different from deutsche bank? >> i was waiting for that question. deutsche bank is in a unique situation, but it is still a situation that is much better than people probably assume. strong.em is very the same kind of discussions and matters five or six years ago would have created

as we continue to keep an eye on deutsche bank, the ceo of ubs is calling the german lender's troublesiosyncratic situation. here's what he said to "squawk on the street" about the european banking sector. >> in general, it's stronger than before. i would argue the same kind of story seven or eight years ago would have triggered much more volatility and uncertainty in the markets than we are seeing today. >> easyjet weighing on the airline sector, the british discount carrier issuing a profit warning saying it has been hurt by terror attacks, impacting bookings, and the brexit vote sparking a slide in the pound. remember, jet fuel is priced in dollars so the falling pound has made it more expensive for easyjet to operate its aircraft. now, while the depreciating pound may be hurting airlines, it is helping deal flow. according to a consulting firm, the uk has become the second most popular country in the world for inbound m&a overtaking switzerland. something to watch. jon, back to you. >> thank you, seema. >>> shares of twitter sinking today on kara swisher's report that google, disne