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Sep 5, 2019
09/19
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ubs is preparing a shakeup of its investment bank.ivesg it to oversee dealmaking around the globe. they will be put in charge of investment banking, including advising on corporate takeovers and raising funds to stock and bond sales. the appointments are not official yet. norway's state-owned oil and gas producers, the first charge will start today as ecuador looks to boost its flagging share price. it also announced production will start a month early. nordion bank has named its new ceo. the previous ceo who plans to retire. the lender is pushing to restore revenue growth after years of painful restructuring. he was previously head of personal banking at nordion -- nordea. porsche has unveiled its first electric sports car. is parent company volkswagen attempting to unseat tesla. the version will be priced at $135,000 and rolled out later. it is expected to be priced below hundred thousand dollars. >> we have to take off initiative from infrastructure. at the end, we could combine other companies like bmw. the infrastructure will gro
ubs is preparing a shakeup of its investment bank.ivesg it to oversee dealmaking around the globe. they will be put in charge of investment banking, including advising on corporate takeovers and raising funds to stock and bond sales. the appointments are not official yet. norway's state-owned oil and gas producers, the first charge will start today as ecuador looks to boost its flagging share price. it also announced production will start a month early. nordion bank has named its new ceo. the...
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Sep 17, 2019
09/19
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BLOOMBERG
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arend kapteyn, ubs global head of economic and strategy research, thank you.s is bloomberg. ♪ ♪ guy: from london, i'm guy johnson. vonnie: from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." it's time for your latest bloomberg business flash. the value of wework bonds dropped by the most on record today after the company said it was pushing back its planned ipo. wework's junk-bond due in 2025 l more than -- 2025 fell more than $0.20 on the dollar. nbc universal will take on netflix is its new streaming service peacock. the service will include reruns of nbc shows such as "the office" and "parks and recreation." peacock debuts next april. the ceo of jcpenney says her turnaround plan will be the one that works at the struggling retailer. she sat down with bloomberg nearly a year after she started, and she has closed stores, exited the appliance business. still, there is a lot of work ahead. sales have fallen for four straight quarters. that is your latest bloomberg business flash. let's get a check now of u.s. markets. the equity
arend kapteyn, ubs global head of economic and strategy research, thank you.s is bloomberg. ♪ ♪ guy: from london, i'm guy johnson. vonnie: from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." it's time for your latest bloomberg business flash. the value of wework bonds dropped by the most on record today after the company said it was pushing back its planned ipo. wework's junk-bond due in 2025 l more than -- 2025 fell more than $0.20 on the dollar....
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Sep 27, 2019
09/19
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andent to the rival ubs tried to lure some of his colleagues to come work for him at ubs.suisse didn't want that so they hired a spy agency to go after him. then the whole scandal broke because there was an altercation. they got into a fist fight with the people following him etc.. the latest is that the authorization for this spy agency came from the chief operating officer. that's what they are focusing on. ceocoo is very close to the and that makes everything a little more complicated. >> this report is based on a person familiar with the situation. >> the plot thickens. we all love a good wall street scandal. i am the first to a bit that. why does this matter for the bank? >> the scandals because they create these headlines do hurt the banks image. especially european banks are still struggling to get the businesses in line. they are trying to move away from scandals of any sort are he and anytime deutsche bank is rated by police officers because of some other reason for a scandal, it looks bad. they don't like these things and credit suisse was trying to fix things up
andent to the rival ubs tried to lure some of his colleagues to come work for him at ubs.suisse didn't want that so they hired a spy agency to go after him. then the whole scandal broke because there was an altercation. they got into a fist fight with the people following him etc.. the latest is that the authorization for this spy agency came from the chief operating officer. that's what they are focusing on. ceocoo is very close to the and that makes everything a little more complicated....
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Sep 6, 2019
09/19
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BLOOMBERG
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vonnie: how is the ubs u.k. investment office thinking about what is happening with parliament and the prime minister right now? are you making any judgment calls on what might happen in the next few weeks, and who might be prime minister by the end of the year? caroline: we are doing a lot of scenarios, let's say that. have five different brexit scenarios and six different general election scenarios, and we try to work out which assets will do well under which scenario. it is very hard to put it. the extension of the article 50 bill is likely to be approved on monday. it is likely that the prime minister will then ask for a second time to see if he can get a general election. he probably won't get the support, looking at what is coming from the opposition parties today. working tose, we are think that we will get an extension, and then a general election, but of course, like ways, all options are possible. vonnie: so what do you do in britain? caroline: on sterling, we think britain is pricing in a hard exit. y
vonnie: how is the ubs u.k. investment office thinking about what is happening with parliament and the prime minister right now? are you making any judgment calls on what might happen in the next few weeks, and who might be prime minister by the end of the year? caroline: we are doing a lot of scenarios, let's say that. have five different brexit scenarios and six different general election scenarios, and we try to work out which assets will do well under which scenario. it is very hard to put...
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Sep 30, 2019
09/19
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cioing us is the regional at ubs global wealth management.-- we have a that is still in contraction and we have this risk about possibly limits on investment and inflows. when you take a look at the , andion, the yuan gaining you say it is not surprising. the numbers reflecting the fact that because of the monetary measures and because of the tech cuts -- tax cuts, those measures have helped bolster the manufacturing sector. manufacturing is a lot more than what they would be. i do expect the numbers to be resilient. post october, november and december, that is where the real crunch comes in. haslinda: what is more important to traders? pmi? if on october 15, the tariffs come in, it should be negative. -- it has ait bigger impact on the global economy than what is happening right now. rishaad: kelvin, how would you say all this data translates to what is going on on the ground currently? in china? calvin: on the ground, there is people expecting the worst. they are preparing for the worst as well. toy're building up inventory prepare for the
cioing us is the regional at ubs global wealth management.-- we have a that is still in contraction and we have this risk about possibly limits on investment and inflows. when you take a look at the , andion, the yuan gaining you say it is not surprising. the numbers reflecting the fact that because of the monetary measures and because of the tech cuts -- tax cuts, those measures have helped bolster the manufacturing sector. manufacturing is a lot more than what they would be. i do expect the...
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Sep 23, 2019
09/19
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sonali: ubs and credit suisse are really a story. they are fierce rivals.st shows how far that goes. ie story that was written would really .2 because if you read into the middle of it, there was a brawl -- i would really point to it because if you read into the middle of it, after carl brawl icahn found out. the people who were following him try to take the phone away, and now this has gotten quite serious. this eric prosecutors are involved. thehis eric prosecutors -- this auric prosecutors -- the zurich prosecutors are involved. does a top executive at a large global bank turn around and find himself being followed by his former employer? what kind of secret did he have or clients or coworkers that warranted the following? sonali: wealth managers are a lot like investment bankers. when they walk out the door, the clients tend to go with them. that could be hundreds of millions of dollars at a time. credit suisse and ubs are the hundred pound gorillas in the world of wealth management, and they are in the same country. they are really dominating global we
sonali: ubs and credit suisse are really a story. they are fierce rivals.st shows how far that goes. ie story that was written would really .2 because if you read into the middle of it, there was a brawl -- i would really point to it because if you read into the middle of it, after carl brawl icahn found out. the people who were following him try to take the phone away, and now this has gotten quite serious. this eric prosecutors are involved. thehis eric prosecutors -- this auric prosecutors...
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Sep 11, 2019
09/19
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KQED
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eventuallyomerom electric vehicles by the end of 2022.es shell more than 1% today to 9.9 o i42. >> ubmore than 400 technical worker or o 8% theroduct engineering staff only weeks after laying off a similar numberrom its mechanicing division. the company's has been under e intense pressince the ipo in may. it lost more than $5 billion in the i recent quarter. ruber aires rose to 33.51. en a target gearing up for the holiday shopping season planninn to highemore than 1 oh oh thousand seasonal workers, 10 northern last year and saying it's paying the worker a starting wage selfie 13 an hour. target shares rose a fraction today it to 108.83. >>> what does the increase in temporaryorkers for the holiday season mean f the economy? senior enomic analyst at bank rate joins us and will tell us that. welcome, mark nice to ha you here. >> good to be wh you, sue. >> this comes atec ad tight labo market. so the retailers and the shippers may want to add all the seasonal workers. but with where do they get them and how much do they have to pay them? >> you referencing reference at the top they may
eventuallyomerom electric vehicles by the end of 2022.es shell more than 1% today to 9.9 o i42. >> ubmore than 400 technical worker or o 8% theroduct engineering staff only weeks after laying off a similar numberrom its mechanicing division. the company's has been under e intense pressince the ipo in may. it lost more than $5 billion in the i recent quarter. ruber aires rose to 33.51. en a target gearing up for the holiday shopping season planninn to highemore than 1 oh oh thousand...
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Sep 4, 2019
09/19
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ubs is down just a fraction on the news. a big shape up in the investment bank at ubs group.will brave you -- will give you an update as it develops. starbucks is one of the worst performers in the s&p 500, dropping the most since january as the company's outlook signal a slowdown in profit growth. kailey leinz will explain it. kailey: starbucks is saying into 2020, profit growth will be below the 10% plus range it has been in. they are not signaling any macro headwinds, basically what they are saying is it is because of one of things that will end in the next fiscal year. one of them will be a tax break that will end in october. they are also normalizing their share buybacks so you are not getting the consolidation that is boosting eps. that is why you are seeing the stock, the lows as investors realize this is major -- this is not major headwinds, but the stock has run up 50% and you are seeing a tinge of pre-pricing. david: it sounds a little like timing. they have two big pullers, united states consumers and china. does it tells anything about the growth in china kailey:
ubs is down just a fraction on the news. a big shape up in the investment bank at ubs group.will brave you -- will give you an update as it develops. starbucks is one of the worst performers in the s&p 500, dropping the most since january as the company's outlook signal a slowdown in profit growth. kailey leinz will explain it. kailey: starbucks is saying into 2020, profit growth will be below the 10% plus range it has been in. they are not signaling any macro headwinds, basically what they...
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Sep 21, 2019
09/19
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WTTG
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even a-ub (ernie) lober duckie? (burke) you mean this one? rnie) rubber duckie!at about a broken cookie jar? (burke) again, cookie? (cookie) yeah. me bad. (grover) yoooooow! oh! a whatbout monsters having accidents? i am okay by the way! (burke) depends. did yov cause the accident, er? ayrover) cause an accidbe... (bert) how do you knoall this stuff? (burke)) just comes with experience.pe (all mts) yup. ♪ we e farmers. ♪ bum-pa-dum, bum-bum-bum-bum
even a-ub (ernie) lober duckie? (burke) you mean this one? rnie) rubber duckie!at about a broken cookie jar? (burke) again, cookie? (cookie) yeah. me bad. (grover) yoooooow! oh! a whatbout monsters having accidents? i am okay by the way! (burke) depends. did yov cause the accident, er? ayrover) cause an accidbe... (bert) how do you knoall this stuff? (burke)) just comes with experience.pe (all mts) yup. ♪ we e farmers. ♪ bum-pa-dum, bum-bum-bum-bum
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Sep 3, 2019
09/19
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he is with ubs.ust to pick up on what you mentioned a couple minutes ago, you expect the dollar to roll over the next 12 months to 18 months. david woo was on the show just 30 minutes ago. he says the minimum condition that to happen is that we get the end of the trade war. do you agree with that? that'slook, i think partially at least in the short term, that would provide relief to potentially the fed cutting rates even more. i think you would need to change a lot of the settings of the cogs that most people now assume are going to play out over the next six months. the fed cutting rates more, which traditionally would see the dollar weaken. nonetheless, the dollar at the moment -- yields in the u.s. are still higher than those on a global basis. also, just the potential for the u.s. dollar to form a safe haven as people purchase more u.s. treasuries as a result of greater geopolitical uncertainty. i guess from that perspective, we take a long term view that the dollar would weaken largely on the bi
he is with ubs.ust to pick up on what you mentioned a couple minutes ago, you expect the dollar to roll over the next 12 months to 18 months. david woo was on the show just 30 minutes ago. he says the minimum condition that to happen is that we get the end of the trade war. do you agree with that? that'slook, i think partially at least in the short term, that would provide relief to potentially the fed cutting rates even more. i think you would need to change a lot of the settings of the cogs...
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Sep 30, 2019
09/19
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CNBC
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they probably can't fall that much further >> mark, out of ubs out in zurich switzerland, perfect timeave a great week. see you soon thank you. >>> when we come back, hong kong police clashing with protesters now for the 17th straight week latest unrest coming ahead of china's national day we'll show you more of the video. >>> plus a major fire breaking out at a new multibillion dollar train station in saudi arabia. we'll tell you why there are more questions than answers about that this morning. >>> later, the house intel committee says it has reached a deal to have the trump/ukraine whistle-blower testify likely this week. what investors need to know about this big political story when "worldwide exchange" returns right after this servicenow put our workflows in the cloud. this changes everything. you're right sir... everything. no not everything, i mean you're still blatantly sucking up to me gary. brilliantly observed, sir. always three steps ahead. six steps ahead. sixteen. so many steps. you done? a million steps ahead. servicenow. works for you. ♪ >>> good morning and welcome ba
they probably can't fall that much further >> mark, out of ubs out in zurich switzerland, perfect timeave a great week. see you soon thank you. >>> when we come back, hong kong police clashing with protesters now for the 17th straight week latest unrest coming ahead of china's national day we'll show you more of the video. >>> plus a major fire breaking out at a new multibillion dollar train station in saudi arabia. we'll tell you why there are more questions than...
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Sep 25, 2019
09/19
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still with us is the managing director at ubs as well as an asset reporter. we are waiting president trump as he makes comments shortly. globally and the prospect of her weakness overseas coming a drag on the us economy. doesn't work that way? >> it certainly does. at the world is catching the ammonia, at best we are going to catch the sniffles if something not a little bit worse. the fact remains gdp growth will still be positive next year, probably in the ballpark of 1.3% or 1.4%. assuming we get a trade deal i think you'll see acceleration earnings to mid single digits. a lot of business owners we talked to say their decisions have been put on hold until he understand where the goal posts are, which keep on moving. once a understand exactly what they're dealing with with respect to trade, i think they loosen their purse strings. i think we can extend the economic cycle longer. >> what you make about the dollar move today, we saw treasury selling, we saw stock trailing, risk and day. but really substantial gains for the bloomberg dollar index. >> its pretty
still with us is the managing director at ubs as well as an asset reporter. we are waiting president trump as he makes comments shortly. globally and the prospect of her weakness overseas coming a drag on the us economy. doesn't work that way? >> it certainly does. at the world is catching the ammonia, at best we are going to catch the sniffles if something not a little bit worse. the fact remains gdp growth will still be positive next year, probably in the ballpark of 1.3% or 1.4%....
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Sep 24, 2019
09/19
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BLOOMBERG
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this comes from a ubs survey.omething interesting is that ubs has seen this for some time now, not to mention this last time we checked them on this, their chief investment officer went negative on stocks. the negative interest rates in europe also became a much bigger issue, certainly for ubs charging their clients. and then you have others like bill gates that say no, in fact, we equities -- we invest in equities. alix: when you hear that rich people are keeping money in cash, what you think? julian: is it a positive for equities. if you look at money market assets, they've absolutely skyrocketed. it's the last two and a half years. this goes back to the psychology of rates moving higher. we think at some point, that money goes into equities, likely next year sometime. sonali: a lot of the money they see moving into real estate and private equity in the next year or so. one would think they were undervalued right now. julian: it is a function of interest rates. there is a lot of liquidity still in the system. yo
this comes from a ubs survey.omething interesting is that ubs has seen this for some time now, not to mention this last time we checked them on this, their chief investment officer went negative on stocks. the negative interest rates in europe also became a much bigger issue, certainly for ubs charging their clients. and then you have others like bill gates that say no, in fact, we equities -- we invest in equities. alix: when you hear that rich people are keeping money in cash, what you think?...
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Sep 25, 2019
09/19
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ubs had a family office group joining us from the other side of town.'s get the bloomberg first word news back in london. good morning. >> good morning, matt. president macron is stepping up assets to diffuse tensions with iran. leader, saying it would be a lost opportunity if president rouhani met -- left without meeting his counterpart. >> no responsible government should subsidize iran's bloodlust. menacings iran's behavior continues, sanctions will not be lifted. they will be tightened. weworks chief is out. salvagein an attempt to the ipo. they plan to go ahead with the listing, but it is unlikely to take place next month as planned. comments from the nation central bank added to speculations of a rate cut next month. up thealso talked virtues of negative interest rates. global news on air and on twitter powered by more than this isrnalists, bloomberg. matt? matt: thanks very much. we are minutes away from the open. up next, we will take a look at your stocks to watch, including adidas, after nike owning's -- earnings show the u.s. rival is dodging
ubs had a family office group joining us from the other side of town.'s get the bloomberg first word news back in london. good morning. >> good morning, matt. president macron is stepping up assets to diffuse tensions with iran. leader, saying it would be a lost opportunity if president rouhani met -- left without meeting his counterpart. >> no responsible government should subsidize iran's bloodlust. menacings iran's behavior continues, sanctions will not be lifted. they will be...
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Sep 2, 2019
09/19
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BLOOMBERG
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excited to have ubs' global visionaries with us.y are a small tree of entrepreneurial organizations looking at sustainable development goals. there is a lot of momentum, and i find that reassuring. nejra: thank you so much. great to have you with us. you can look at all the charts we have shown you -- this is bloomberg. ♪ nejra:nejra: good morning from bloomberg's european headquarters. manus: this is "bloomberg daybreak: europe." china is hit with a fresh round of tariffs. pmi data helps push stocks higher. his --nt trump focuses focus shifts to dorian. the u.k. labour party readies legislation to prevent a no deal brexit. pledges billions in domestic spending. parliament returns tomorrow. temperature rising. hong kong officials go through emergency law is the city sees some of the worst violence since the unrest began. nejra: welcome to "daybreak europe." i bet some traders are happy august is over. september not looking that much better. rallied the most since 2008. one of the biggest banks has gone from much higher ownership lim
excited to have ubs' global visionaries with us.y are a small tree of entrepreneurial organizations looking at sustainable development goals. there is a lot of momentum, and i find that reassuring. nejra: thank you so much. great to have you with us. you can look at all the charts we have shown you -- this is bloomberg. ♪ nejra:nejra: good morning from bloomberg's european headquarters. manus: this is "bloomberg daybreak: europe." china is hit with a fresh round of tariffs. pmi data...
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Sep 25, 2019
09/19
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is this something ubs would do?nd if it is good practice that follows, there is freedom of movement between jobs between financial institutions. andeeds to be orderly between contractual arrangements. this is what we focus on. everything needs to be by the book and that is my sole focus. i think that is part of competition and if things don't happen by the book, i am not in favor of doing it. matt: let's talk about this family office event. of a net worth investors are worried about a recession and a lot are moving to cash. more interesting is that a lot of them, especially the younger generation, is investing in long-term sustainable esgs assets. is that a trend? >> it is one of them fastest-growing categories, over 70% in four years. they are looking at the portfolio of their parents and family, and reengineering it towards their investment leaves. investing,t impact environmental friendliness, and are restructuring the portfolio as soon as they inherit that. that has kicked off a demand for sustainable assets. th
is this something ubs would do?nd if it is good practice that follows, there is freedom of movement between jobs between financial institutions. andeeds to be orderly between contractual arrangements. this is what we focus on. everything needs to be by the book and that is my sole focus. i think that is part of competition and if things don't happen by the book, i am not in favor of doing it. matt: let's talk about this family office event. of a net worth investors are worried about a recession...
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Sep 19, 2019
09/19
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CNBC
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credit you think you can make some money by owning the stock as we reflect but not in the long term ubsa great bank. we have an issue how the cost is managed. it is extremely poor cost management the new head of wedalth management has changed that really has disappointed us. >> thank you for those thoughts. stay right there the ecb is set to publish the details of the latest refinancing program. today, the central bank announced the thtro iii. let's get right back to our guest. you mentioned there at ubs, they've been really poor in terms of delivering on cost management if i look across the broader european banking space, can the banks at this stage, given the cost custodying we've seen becoming an attractive class >> all of this happening, we see .1% cost growth. that is actually an achievement when you think of all the it investment the banks have to do, the wage growth they have to offset but it is not enough. until year end 2025, we need to see more cost cutting and maybe m&a, frankly we have seen no marchd&a of size that triggers the big cost cut coming through >> is that still a
credit you think you can make some money by owning the stock as we reflect but not in the long term ubsa great bank. we have an issue how the cost is managed. it is extremely poor cost management the new head of wedalth management has changed that really has disappointed us. >> thank you for those thoughts. stay right there the ecb is set to publish the details of the latest refinancing program. today, the central bank announced the thtro iii. let's get right back to our guest. you...
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Sep 4, 2019
09/19
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alix: still with us, megan stuartof harvard and kaiser of ubs.had public admission that central banks can do a lot about anything these days. they have a really blunt tool to achieve a whole bunch of objectives, and when you are facing supply-side chocks,-- supply-side that doesn't do much. i don't think we are watching bubbles blow up because we are easing policy. i don't see that many indications we are getting massive asset bubbles. david: couldn't they do harm? particularly when you have the markets really expecting cuts. if they don't cut, you could actually drive the markets the wrong way and tighten financial conditions. stuart: i think that's true. pushback. would markets have already responded to that. that is the market iserpretation, that the fed behind the curve. think economic data was reasonably solid. powell was not good enough consensus to cut rates 50 basis points because people are pretty company with how things have shaken out. i think the discussion of the ecb is moving in that direction. you've seen that probably the last mon
alix: still with us, megan stuartof harvard and kaiser of ubs.had public admission that central banks can do a lot about anything these days. they have a really blunt tool to achieve a whole bunch of objectives, and when you are facing supply-side chocks,-- supply-side that doesn't do much. i don't think we are watching bubbles blow up because we are easing policy. i don't see that many indications we are getting massive asset bubbles. david: couldn't they do harm? particularly when you have...
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Sep 30, 2019
09/19
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the former employee decided to leave for ubs. he says he felt physically threatened. there was a very public altercation on the street, and claims his phone was almost stashed away. the board will have to make sure they come up with a clear explanation as to who is to blame for this. some of the heat has moved away because some of the big shareholders at credit suisse claimed that there is no point getting rid of the ceo, who has done a good job turning around the bank. this is not a good look, but the reality is this is a very cutthroat industry as long as nothing here was illegal. alix: thank you very much. then we had to wall street. friday is jobs day, and poor that is a very busy -- and before that is a very busy week for fed speakers. michael mckee has more. michael: one of those fed officials, john williams, already speaking out this morning. it is quarter end, and it is volatile, so we are keeping an eye on the repo market. i made a chart that said everything is ok, but look at how we've opened in the repo market. the fed will come in later this morning and pr
the former employee decided to leave for ubs. he says he felt physically threatened. there was a very public altercation on the street, and claims his phone was almost stashed away. the board will have to make sure they come up with a clear explanation as to who is to blame for this. some of the heat has moved away because some of the big shareholders at credit suisse claimed that there is no point getting rid of the ceo, who has done a good job turning around the bank. this is not a good look,...
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Sep 3, 2019
09/19
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us is the ubs wealth management had for the u.k. huawei -- geoffrey yu. >> staying away from sterling for the time being. difficult to go below where we are at this point. getting some certain tv of the no deal or some long-term extension, if that can be accelerated -- vonnie: -- guy: how would you treat the general election? >> we know in 2017 where the poll started and ended. i could not offer i guess at this point. i am hoping a general election can deliver some form of certainty whatever that may be. vonnie: how extreme is this positioning right now? theaw fluctuations around 120 mark for sterling and we have the dollar index above 99. the sentiment right now is still very fragile. the u.k. and the globe were all exposed. in the last two or three years the world is doing well. weak and globally is the u.k. is not benefiting from that. how is the bank of england watching proceedings in parliament today? is this week a very decisive are we stillxit or waiting for october 30 fourth before we see real positioning change? the boe wil
us is the ubs wealth management had for the u.k. huawei -- geoffrey yu. >> staying away from sterling for the time being. difficult to go below where we are at this point. getting some certain tv of the no deal or some long-term extension, if that can be accelerated -- vonnie: -- guy: how would you treat the general election? >> we know in 2017 where the poll started and ended. i could not offer i guess at this point. i am hoping a general election can deliver some form of certainty...
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Sep 5, 2019
09/19
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of ubs --r break off the silly sobriety off his -- vassili serebriakov of ubs is still with us.li: i would agree with the view that consumer spending is one of the more lagging indicators. we are starting to weakness in the ism surveys. to see be interesting what happens to manufacturing jobs on friday. it is the business sector that is starting to show it more. temp jobs, seen hours worked roll a little bit. does that mean for the fed? what does it mean for yields? vassili: our base case is for a 25 point cut in september. they do need to wait to cut further, so we think much of it is going to be backloaded to 2020. they will cut one more time this year, and then we see another four next year. fed that is is a still going to be lagging the market expectations a little bit. alix: you have a call that the 10 year yield is now going to be 1% for the end of this year. why? what was the reason for the downgrade? vassili: one is just that we expect iteris to have a significant impact on the u.s. economy -- we expect the tariffs to have a significant impact on the u.s. economy. of cou
of ubs --r break off the silly sobriety off his -- vassili serebriakov of ubs is still with us.li: i would agree with the view that consumer spending is one of the more lagging indicators. we are starting to weakness in the ism surveys. to see be interesting what happens to manufacturing jobs on friday. it is the business sector that is starting to show it more. temp jobs, seen hours worked roll a little bit. does that mean for the fed? what does it mean for yields? vassili: our base case is...
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Sep 27, 2019
09/19
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BLOOMBERG
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laura kane, ubs global wealth management head of thematic investing for the americas. let's check in on bloomberg first word news. trump is lashing out at the person who gave information to a whistleblower. at ade the comment closed-door meeting with formats. >> i want to know the person who gave the whistleblower, the person who gave the whistleblower the information. because that is close to a spy. you know what we used to know with spies and treason. led severalnts democratic house committee chairman to warn the president against witness intimidation. washingtonng -- released that transcript, pressure is worried. a spokesperson says that russia would hope that it would not come to that one asked if moscow was worried about transfers between trump and putin. he added that relationships between the countries are already troubled. hong kong police are banning a national protest day march. they based the decision on the last few days of protests. the march and rally were planned in an area close to what they call a high risk building that could be subject to violence. p
laura kane, ubs global wealth management head of thematic investing for the americas. let's check in on bloomberg first word news. trump is lashing out at the person who gave information to a whistleblower. at ade the comment closed-door meeting with formats. >> i want to know the person who gave the whistleblower, the person who gave the whistleblower the information. because that is close to a spy. you know what we used to know with spies and treason. led severalnts democratic house...
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Sep 18, 2019
09/19
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CNBC
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this after ubs published a barish note on the sector. analysts say earnings are about to slow down and they put a sell rating here. swatch there and todds is also one of the names they have put a sell rating on that is one of the reasons luxury trade is there in europe. and looking at auto sales. slowing about 9% for august. that is according to the automobile association key brands were hit hard with sales at volkswagen, renault and fiat all dropping by double digits last year, carmakers ramped up sales ahead of new emissions rules. generally, we are seeing a little weakness transpire in these sectors for today. >> thank you for that update airbus has revised the 20-year forecast the french play maker has trimmed its out look charlotte joins us around the desk with more 20 years, that is quite an ambitious forecast airbus doesn't always get it right. should we put a lot of emphasis on these numbers today >> the airline industry is -- the airline making industry is one that needs to do this sort of long-term forecast. if you just look at
this after ubs published a barish note on the sector. analysts say earnings are about to slow down and they put a sell rating here. swatch there and todds is also one of the names they have put a sell rating on that is one of the reasons luxury trade is there in europe. and looking at auto sales. slowing about 9% for august. that is according to the automobile association key brands were hit hard with sales at volkswagen, renault and fiat all dropping by double digits last year, carmakers...
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Sep 26, 2019
09/19
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BLOOMBERG
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alix: even ubs is getting talked about in this whole scenario because mr. khan was going to ubs.s what he had to say. >> we have made our due diligence, believe me, as a bank , in close contact and making sure that there will be no regret for -- no regretful moves. we are not part of this discussion. sonali: remember, credit suisse and ubs have such a strong rivalry. you have asked whether that you have asked the weber -- you have this iser saying between credit suisse and mr. khan. he's clearly somebody who may be rising at ubs. he hasn't joined yet, but when he does. so this is now involving the highest levels of both banks. alix: you have to wonder, it can't just be this one bank and this one person. i'm just saying. it just can't be a one-off. sonali: can you imagine being so good of a banker? [laughter] alix: i'm so awesome i had to be followed. let's go to the next story, making a ton of money off of the peloton ipo. global, -- tiger , he lost his head of equity earlier is here, but still had a return on peloton. got very luckyy as it priced at the very high-end of the rang
alix: even ubs is getting talked about in this whole scenario because mr. khan was going to ubs.s what he had to say. >> we have made our due diligence, believe me, as a bank , in close contact and making sure that there will be no regret for -- no regretful moves. we are not part of this discussion. sonali: remember, credit suisse and ubs have such a strong rivalry. you have asked whether that you have asked the weber -- you have this iser saying between credit suisse and mr. khan. he's...
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Sep 30, 2019
09/19
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he decided he wanted to leave the institution and go to ubs, a big rival.here is speculation as to what prompted the exit. the media here will tell you the relationship between the ceo is very much in focus, and have become incredibly toxic, and decided to leave. it becomes more complicated when that surveillance operation is put in place. threatened,was there was a public altercation here. the bank, however, has a different idea of what happened here, that they were simply trying to protect their business, and that is the obligation of any board, to make sure a business is protected, that he would not try to steal other talent from the bank. at this one, the heat on tidjane thiam has come down, the board has decided to take this decision, but mostly because shareholders are backing him as the ceo. they say he is doing good business, there is no point to ditch the ceo in the middle of a turnaround plan. to be honest, this is a difficult and cutthroat industry. things like this can happen. as long as it is not fully illegal, well, you have to have a thick sk
he decided he wanted to leave the institution and go to ubs, a big rival.here is speculation as to what prompted the exit. the media here will tell you the relationship between the ceo is very much in focus, and have become incredibly toxic, and decided to leave. it becomes more complicated when that surveillance operation is put in place. threatened,was there was a public altercation here. the bank, however, has a different idea of what happened here, that they were simply trying to protect...
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Sep 23, 2019
09/19
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BBCNEWS
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you look at the big swiss banks, ubs and credit and they are the market leaders, countless multiplese deutsche bank. deutsche bank would be intense position if it was its own ultra rich, sorry, for ultra rich clientele. this german paper, crazy plan a great idea is the headline. the greens propose to make every parking space in a town subject to a fee. it doesn't matter where you park. i hate paying for parking. it is so easy. if you have the app, you hit the button, you have paid. i know, buti the app, you hit the button, you have paid. i know, but i was saying to someone earlier if i could break any law continuously, i wouldn't rob any law continuously, i wouldn't rob a bank oranything... any law continuously, i wouldn't rob a bank or anything... you would not pay for a parking fine. 0ther a bank or anything... you would not pay for a parking fine. other thing is, the idea is about changing our behaviour. if we are forced to pay for parking, maybe we just won't own a car. the part of london i live in the has been consultation about taking away parking on the high street, and every
you look at the big swiss banks, ubs and credit and they are the market leaders, countless multiplese deutsche bank. deutsche bank would be intense position if it was its own ultra rich, sorry, for ultra rich clientele. this german paper, crazy plan a great idea is the headline. the greens propose to make every parking space in a town subject to a fee. it doesn't matter where you park. i hate paying for parking. it is so easy. if you have the app, you hit the button, you have paid. i know, buti...
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Sep 3, 2019
09/19
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tom: yes, so now you have the likes of merrill lynch, ubs downgrading their forecast for 2020. expecting growth to slow to 5.5% in 2020. bank of america merrill lynch has it around 5.7%. bank of america says policymakers are behind the curve when it comes to the need for stimulus. we have seen a package of measures to support consumption, outlined in the last few weeks. we have had tax cuts, we have had changes and the interest rate mechanism. bank of america, merrill lynch and others say more is needed given the pressures on the economy. if you are not getting 6% growth in 2020, that poses a challenge for president xi's goal of by 2020, doubling growth of 2010 levels to create a moderately prosperous society. that is another key challenge. the forecast being downgraded and economists say more needs to be done to shore up growth. shery: tom mackenzie, thank you. still with us is cumberland advisors chairman and cio david kotok. you were just listening to tom talking about some analysts saying that perhaps china is behind the curve. the pboc has a lot of firepower left. could th
tom: yes, so now you have the likes of merrill lynch, ubs downgrading their forecast for 2020. expecting growth to slow to 5.5% in 2020. bank of america merrill lynch has it around 5.7%. bank of america says policymakers are behind the curve when it comes to the need for stimulus. we have seen a package of measures to support consumption, outlined in the last few weeks. we have had tax cuts, we have had changes and the interest rate mechanism. bank of america, merrill lynch and others say more...
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Sep 2, 2019
09/19
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ubs raised its total to $40 billion depending on how dorian hits florida.aul: iran is warning it is prepared to step away from the 2015 nuclear deal if europe does not come up with new terms by the end of this week. iran has set a friday deadline for germany, france and the u.k. to offer a way to continue selling oil on the global market. top diplomats are heading for paris and moscow for talks on the issue in the coming days. kathleen: the central bank of argentina is talking to the imf about revising his monetary policy for this month, a day after the government reimposed currency control in an effort to contain the rising financial crisis. policymakers failed to make their monetary base goals for july and august but only the quarterly target is binding for the imf aid program. let's get to the top story. the u.s. and china said to be struggling to agree on a schedule for planned trade talks in washington. the impasse comes after the white house rejected requests from beijing to delay president trump's latest tariffs. let's cross to our china corresponden
ubs raised its total to $40 billion depending on how dorian hits florida.aul: iran is warning it is prepared to step away from the 2015 nuclear deal if europe does not come up with new terms by the end of this week. iran has set a friday deadline for germany, france and the u.k. to offer a way to continue selling oil on the global market. top diplomats are heading for paris and moscow for talks on the issue in the coming days. kathleen: the central bank of argentina is talking to the imf about...
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Sep 30, 2019
09/19
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we are talking about ubs and credit suisse, the two big national championships. it is very real that there is paranoia in this country about who.s doing business with when you look at the industry, making money is a lot more difficult than it was before. nobody wants to lose their portfolio. nobody once to lose their clients. this is perhaps why credit suisse decided it was a good idea to put a former employee who was known for his ability to make business under surveillance. they were concerned he would try to steal talent and use it for his own benefit. many will tell you this is a very tough industry, very cutthroat. sometimes things like this just happened. guy: thanks very much indeed. maria's is in zurich. she will bring us a great deal of reporting over the next one to four hours. we are expecting a decision first thing tomorrow morning. maria will be bringing you that news from zurich. the banking sector not exact lay one of the best performers during the last quarter. we continue to monitor what is happening in the united states and with the trade narrat
we are talking about ubs and credit suisse, the two big national championships. it is very real that there is paranoia in this country about who.s doing business with when you look at the industry, making money is a lot more difficult than it was before. nobody wants to lose their portfolio. nobody once to lose their clients. this is perhaps why credit suisse decided it was a good idea to put a former employee who was known for his ability to make business under surveillance. they were...
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Sep 30, 2019
09/19
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ubs, jp morgan, nomura, have received approvals. china has removed a quota system.g trade war, china is probably not going to change his long-term plans for financial sector opening. part of the reason why is because china really needs the inflow of funds right now. china's current-account surplus dramatically narrowed over the past decade. u.s.e like this from the would send a very negative signal to local investors at a time when china needs the funds the most. not to mention this what her china's attempts to internationalize the end. shery: you mentioned peter navarro, steve bannon. who has the ear of the president? >> we don't know yet. i found it really interesting. i guess i would be reading it a little bit here, but i read in the fact that we had this sort of port out there for a little while until treasury issued their statement, and we listed a number of things that are going on in these discussions. the treasury's response was very specific. they said we are not looking at this one little part of it at this time. read into that how you will. it is very cle
ubs, jp morgan, nomura, have received approvals. china has removed a quota system.g trade war, china is probably not going to change his long-term plans for financial sector opening. part of the reason why is because china really needs the inflow of funds right now. china's current-account surplus dramatically narrowed over the past decade. u.s.e like this from the would send a very negative signal to local investors at a time when china needs the funds the most. not to mention this what her...
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Sep 23, 2019
09/19
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CNBC
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ubs tells cnbc they're changing the investor environment. >> i don't expect european interest rates tonge any time soon. this will lead to big changes in investor environment because in the past you could expect to wait it out. you can't wait it out now. >>> it has been a very weak start to the trading week here in europe. quick look at some of the market action this morning in the face of what has been negative data for germany, for france and across the eurozone. the overall pictures you can see in the red down by .7% the ftse here in the uk as we watch brexit developments and the labor party. also services impacted now with effective contraction across on the latest surveys the pmis at 49.1 we're down 1% on france and this economy too also showing the impact of the trade war with the services sector also being hit 1.1% down for the french market and italian stocks fading by 1.1 at the start of the session. let's just push on from some of the that redding into implications for the euro which has been softening up. there was an expectation we would have seen a pop in the trade in fact
ubs tells cnbc they're changing the investor environment. >> i don't expect european interest rates tonge any time soon. this will lead to big changes in investor environment because in the past you could expect to wait it out. you can't wait it out now. >>> it has been a very weak start to the trading week here in europe. quick look at some of the market action this morning in the face of what has been negative data for germany, for france and across the eurozone. the overall...
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Sep 12, 2019
09/19
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CNBC
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ali is managing director at ubs and steve liesman is here as well just so everybody's on the same page here, the ten-year u.s. treasury yield at 1.794% we were there overnight. came back up steve we had the kind of ecb pulling everything down on the one hand then the cpi report pushing everything back up these are major swings in the treasury market seeming to happen every other hour. >> the reason is pretty clear. i took off on tuesday. and then 20 evaporated i'm back today not doing much good. i think there are a couple of things at work and we might have mistaken some technical trades for some fundamentals. i think a lot of guys were short swaps or variable rates and all of a sudden, long-term came down to where variable was so everybody went to the other side of the trade and that pushed things down further. i think things backed up a little bit >> the positioning in the treasury market, people said that was at 20-year extremes there was the first time ever this summer it was named the most crowded trade by fund managers in august, such extreme lows an element of -- >> it had to go
ali is managing director at ubs and steve liesman is here as well just so everybody's on the same page here, the ten-year u.s. treasury yield at 1.794% we were there overnight. came back up steve we had the kind of ecb pulling everything down on the one hand then the cpi report pushing everything back up these are major swings in the treasury market seeming to happen every other hour. >> the reason is pretty clear. i took off on tuesday. and then 20 evaporated i'm back today not doing...
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Sep 18, 2019
09/19
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paolo from rothschild and isabelle from ubs is still with us.erience innse the oil markets as the former chief executive of ne. what is your view on how these attacks will reshape the price of oil? news: let me say, the good is it has not turned out to be devastating. at the end of the day, 50% of the cuts which have been generated have been restored. is that, the good news you could make limited to damages. these tasks might repeat themselves and you can see all of this in the oil price. they are moving down only a couple of weeks ago and it's only because consumption is not growing. they went up by 20% and now they are back. back 10% higher than two weeks marketsch means the give a risk factor to the oil ,rices to stay a little higher simply because this task can repeat and people in the market are worried there might be worse attacks in the future. francine: should we be confident about the recovery efforts? >> they are cognizant about the efforts. they have high stocks all over the world. the saudi arabia today is less crucial than it used t
paolo from rothschild and isabelle from ubs is still with us.erience innse the oil markets as the former chief executive of ne. what is your view on how these attacks will reshape the price of oil? news: let me say, the good is it has not turned out to be devastating. at the end of the day, 50% of the cuts which have been generated have been restored. is that, the good news you could make limited to damages. these tasks might repeat themselves and you can see all of this in the oil price. they...
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Sep 26, 2019
09/19
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CNBC
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ub ore's ipo?ere very supportive of us ahead of the ipo. they agreed it was time for the company to go public the stock hasn't reacted the way that we'd like it to react, but we're focused on building a great business and when ever i talked about >> yeah. >> public company and the value has been -- >> absolutely. >> are you feeling pressure from him? >> the greatest pressure that i feel is from myself. >> a lot of folks can't help but make the comparison between uber and wework both burning money both founders and ceos were founded. you came in more than two years ago, what did you do what was one of the immediate things you did to turn around uber at the time >> we immediately went out and made sure we formulated the culture of the company we took some the old because it wasn't all bad but some of the aggressive cultural that made uber was it was was weaponized we made sure we changed that so we have company was responsible growth going forward we did take a lead on governance right now i'm focuse
ub ore's ipo?ere very supportive of us ahead of the ipo. they agreed it was time for the company to go public the stock hasn't reacted the way that we'd like it to react, but we're focused on building a great business and when ever i talked about >> yeah. >> public company and the value has been -- >> absolutely. >> are you feeling pressure from him? >> the greatest pressure that i feel is from myself. >> a lot of folks can't help but make the comparison...
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Sep 5, 2019
09/19
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CNBC
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restructuring which could be announced as early as this week will also include hundreds of job cuts ubsas declined to comment on the report >>> concerns that investment banks over easing central bank policy are quote understandable according to goldman sarchs cfo stephen scherr he said the trend kick started anxious times for the banking industry as a whole. >> less of a concern for us just given the nature of our business model, meaning the way in which we fund and the floating rate nature of the assets doesn't lead to the kind of concern that other big commercial banks would have but if you look at major money center banks in the u.s., as you do big money centered banks here in europe, they all have anxiety about the prospect of ever lower rates and the inability to generate assets, sufficient to meet, you know, their cost of capital and their cost of funding. it is understandable that's a big concern. it is a concern shared on both sides of the atlantic. mostly by big money centered banks in both jurisdictions. >> clearly the states, still have leeway to cut rates before you turn to
restructuring which could be announced as early as this week will also include hundreds of job cuts ubsas declined to comment on the report >>> concerns that investment banks over easing central bank policy are quote understandable according to goldman sarchs cfo stephen scherr he said the trend kick started anxious times for the banking industry as a whole. >> less of a concern for us just given the nature of our business model, meaning the way in which we fund and the floating...
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Sep 12, 2019
09/19
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CNBC
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let's hope when owe weather talk about ub or lyft, they're dined designed to make lives better for the you don't want to put them out of business anybody got a view on uber, the stock down 26% not today. >> bill's comments on tuesday, it was a fantastic show. the comment that stood out was about competition. talk ed about how many have spoken that there is no competition for uber, but even better in bill's point was yes, there was competition with uber, but they left. they tried it and weren't able to model it is way uber is what's better than no competition? having competition that decides this isn't for us. >> bill, smart guy rich guy no problem, but lots of competition. your spouse, your brother, your sister or a taxi you know what i'm saying we lived with it before uber people got around. >> to your earlier question about what this means for the drivers, the law of unintended consequences here, this pushes ub ner the direction they want to go, which is get autonomous vehicles and take drivers out of the euation. >> quickly smile direct smile direct now down 18%. okay 18%. joss brow
let's hope when owe weather talk about ub or lyft, they're dined designed to make lives better for the you don't want to put them out of business anybody got a view on uber, the stock down 26% not today. >> bill's comments on tuesday, it was a fantastic show. the comment that stood out was about competition. talk ed about how many have spoken that there is no competition for uber, but even better in bill's point was yes, there was competition with uber, but they left. they tried it and...
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Sep 30, 2019
09/19
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BLOOMBERG
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from what we're hearing from ubs, they do expect him to start.arting with a cloud hanging over him, that's for sure. anna: thanks very much, patrick winters, the finance reporter with the details, taking on strange, new forms. up next, the king of i.b. of forms. we'll get the latest from the city. this is bloomberg. ♪ matt: welcome back to bloomberg markets. this is the european markets, and we are kicking it off pretty slow for a monday. we due to the dax and the team mid moving down, but the ftse 100 in london and the cac in paris are change retina. after -- right now. after a rocky ipo pass, the asian unit made its trading debut in hong kong. budweiser's asian shares rally as much as 7% from its ipo price. sophie kamaruddin has been tracking it in hong kong for us. i guess the lower end of expectations with your price, something that makes investors happier? sophie: yeah, investors cheering on the listing of the asian unit of budweiser, the most actively traded stock in hong kong. the fact it's already profitable company may be happening the p
from what we're hearing from ubs, they do expect him to start.arting with a cloud hanging over him, that's for sure. anna: thanks very much, patrick winters, the finance reporter with the details, taking on strange, new forms. up next, the king of i.b. of forms. we'll get the latest from the city. this is bloomberg. ♪ matt: welcome back to bloomberg markets. this is the european markets, and we are kicking it off pretty slow for a monday. we due to the dax and the team mid moving down, but...
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Sep 24, 2019
09/19
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santander, lloyds, ubs. i'm flying to zurich tonight for an interview tomorrow.tuned for that. definitely check back for that. as far as the losers are concerned, you know lover -- andever at the top, anheuser-busch doing poorly, from some of the most the stoxx index, not. and relx down .5%, plc, and a couple, astrazeneca on the downside this morning, zurich insurance on the downside. losers, and the number of losers continues to rise. little moreown, a than 400 stocks gaining. let's talk about what's going on in germany. the economy is in pretty bad shape, and today's ifo survey in particular, the expectations gauge in the ifo survey will be closely monitored. yesterday we saw the release of a terrible set of pmi's, so a poor ifo reading could mean expectations for a downturn get another boost, if you could understand that. expectations for a downturn get a boost. any way you say it, people get more bearish. thel continue to follow german story with daniel schaefer, our bureau chief in frankfurt. we saw yesterday pmi numbers worse than expectations, which were a
santander, lloyds, ubs. i'm flying to zurich tonight for an interview tomorrow.tuned for that. definitely check back for that. as far as the losers are concerned, you know lover -- andever at the top, anheuser-busch doing poorly, from some of the most the stoxx index, not. and relx down .5%, plc, and a couple, astrazeneca on the downside this morning, zurich insurance on the downside. losers, and the number of losers continues to rise. little moreown, a than 400 stocks gaining. let's talk about...
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107
Sep 22, 2019
09/19
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KNTV
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you are an investor in ub, he right? >> personally. >> right. venture capitalists investing in uber is not that hark remarkable. but venture capitalists invests in things to save animals or trees or things is kind of remarkable because it is not obvious there is money there. >> sure. we -- a great example is my portfolio company planet labs. they launched over 200 satellites into orbit and takes a snapshot of every square inch of the planet every day at 10:00 a.m. they were instrumental in tracking and holding brazil to task for all the forest fires in the amazon. that said, this data set is novell and it is valuable and they have other paying achieve t positive benefits for the world while still returning a return. >> onebo oth your portfolio i think and biotech right now in generas you see these companies that are doing agriculture. they are doing ago tech. also doing pharmaceuticals. you have a few companies like that, ginko which just raised a big round, now worth $4 billion. do you think we need to start thinking about these biological tech
you are an investor in ub, he right? >> personally. >> right. venture capitalists investing in uber is not that hark remarkable. but venture capitalists invests in things to save animals or trees or things is kind of remarkable because it is not obvious there is money there. >> sure. we -- a great example is my portfolio company planet labs. they launched over 200 satellites into orbit and takes a snapshot of every square inch of the planet every day at 10:00 a.m. they were...
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121
Sep 4, 2019
09/19
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KQED
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n shut rrts have b down lines could see a t reduction of five creents cer she beccellations and ubs says the hurricane could cost insurers about $25 billion. but share of those did move higher due to the stors changing path off the coast. >>> members of the united auto workers union granted union during contract negotiations s.th the big three automakut the union said about 96% of members support the action. gm will lead the negotiations which come amid union corruption, which we told you about last week. the industrs also grapplg with slowing demand and rising trade tension. >>> finally tonight, if you own christmas lights or ornament, chances are they were made in a small town inchina. it's known as christmas village. but u thi year with the on .oing trade war, there n't a lot of holiday c >> it's5 christmas 36 days a year. this eastern coastal city makes roughly u half of the world's christmas decorationdecorations. buyers come from all over the world to meet t manufacturers here and aome for everything from artificial trees to dancing santasas they say orders have been priced and shi
n shut rrts have b down lines could see a t reduction of five creents cer she beccellations and ubs says the hurricane could cost insurers about $25 billion. but share of those did move higher due to the stors changing path off the coast. >>> members of the united auto workers union granted union during contract negotiations s.th the big three automakut the union said about 96% of members support the action. gm will lead the negotiations which come amid union corruption, which we told...
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Sep 24, 2019
09/19
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BLOOMBERG
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he defected to ubs.he drama spilled into the open when the investigators attempted to grab his mobile phone. credit suisse chairman and chief executive saying in an internal memo, the truth will emerge. that is your bloomberg business flash. so much.anks now iran's k european partners are fighting with the u.s., in blaming tehran for the strikes, saudi oil facility. france, germany and the u.k. have said quote no other excellent nations possible. the european nation also called for an expanded nuclear agreement. details on the gulf tensions. >> the showdown between the united states and iran moves to manhattan this week. as to how to world leaders and thousands of diplomats gather in york city for the u.n. general assembly. today president drama donald trump speaks in his running counterpart behind it may be front and center. iran has second row seats although rouhani and its about sharif could avoid this emily or leave before trump takes debt just could avoid this, or lay before trump takes to put impai
he defected to ubs.he drama spilled into the open when the investigators attempted to grab his mobile phone. credit suisse chairman and chief executive saying in an internal memo, the truth will emerge. that is your bloomberg business flash. so much.anks now iran's k european partners are fighting with the u.s., in blaming tehran for the strikes, saudi oil facility. france, germany and the u.k. have said quote no other excellent nations possible. the european nation also called for an expanded...
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Sep 3, 2019
09/19
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ubs says it will costs at least $25 billion -- will cause at least $25 billion in losses to insurers. in general, hurricanes have become much more costly. this could be down to the speed at which hurricanes have been moving. slower moving storms mean hurricanes can linger wherever they had, which causes flood damage. that and high wind makes hurricanes costly. hurricane harvey, $130 billion. it's a prime example of that, dropping more rain than any other storm system in its history, as the country's's second most costly disaster. you can see since the 80's how much more costly these hurricanes have become. matt: all right. great reporting. thanks very much. following the storm dorian, the hurricane dorian for us. coming up, eye on aramco. role scaled back. are changes in saudi oil policy on the horizon? tune into bloomberg radio live on your mobile device. this is bloomberg. ♪ this is "bloomberg daybreak: europe." here is a look at what you should be watching. there's a lot of data coming out on wednesday. more data out of europe. services and composite readings. u.k. services pmi rea
ubs says it will costs at least $25 billion -- will cause at least $25 billion in losses to insurers. in general, hurricanes have become much more costly. this could be down to the speed at which hurricanes have been moving. slower moving storms mean hurricanes can linger wherever they had, which causes flood damage. that and high wind makes hurricanes costly. hurricane harvey, $130 billion. it's a prime example of that, dropping more rain than any other storm system in its history, as the...
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Sep 28, 2019
09/19
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. >> it wa in the context of conservativesns were making tha after having spent money -- ub >> the rcans are deficit hawks when they're not in power. but when they get there -ex democrats artly reverse. the last time we had a surplus was when bill clinton was president and i always thoht the president, the governor, the mayor, those are management jobs and you want people with management experience.os and i think of these presidentsents we've had and mo e governors we've had a most >> never been executives. >> they never managed anything. and so they come up with these eas and say, we're going to do it. but that's not the real world. how are you going to get peoplea to takay the guns? do you know howany people woul votegainst that. >> but trump's a businessman. >> no, he' not. and i said that when iha talkedt he's a real estate developer, nothing wrong with being a rea estate developer, but he knew nothing about finance, nothing about foreign policy, knew fense, never managed anything, a small office of a hundred people or something like that. i'm not tak tg athing away from him. but i c
. >> it wa in the context of conservativesns were making tha after having spent money -- ub >> the rcans are deficit hawks when they're not in power. but when they get there -ex democrats artly reverse. the last time we had a surplus was when bill clinton was president and i always thoht the president, the governor, the mayor, those are management jobs and you want people with management experience.os and i think of these presidentsents we've had and mo e governors we've had a most...
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Sep 30, 2019
09/19
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credit suisse and ubs our archrivals. ship is oneevelyn of the top moneymakers for the bank.ine: david mirror is one of the biggest shareholders. whatever happened -- overall, how often do people spy? do we know if this is something that happens regularly in banks across the world? is this something you never heard of? patrick: we have looked into it somewhat. there was a spine case at deutsche bank, the most famous case and there were implications after that. it happens more often than we realize. it just never comes to light. people don't find out about it. public.t made the press were all over it. the idea that thugs following a banker through zurich, through a very safe place freaked a lot of people out. francine: thank you so much. patrick winters. let's get straight to the bloomberg first word news. viviana: the u.s. has no current plans to stop chinese companies listing on american exchanges. this denial after a bloomberg reported on friday that the white house is exploring limits on u.s. investments in chinese companies. aging vowing to continue opening up its markets
credit suisse and ubs our archrivals. ship is oneevelyn of the top moneymakers for the bank.ine: david mirror is one of the biggest shareholders. whatever happened -- overall, how often do people spy? do we know if this is something that happens regularly in banks across the world? is this something you never heard of? patrick: we have looked into it somewhat. there was a spine case at deutsche bank, the most famous case and there were implications after that. it happens more often than we...
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Sep 18, 2019
09/19
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ube ser release a new safety feature called ride check. it can detect when your ride has gone off course or stopped for an unusual amount of time and when you've been in a collision. you could then use emergency buttons to report any issues to uber's safety line. uber's main rival lyft also has a similar 911 button and is expected to release a similar ride-check feature later in the year. according to the verge, a woman is using lyft for failing to keep safe after she said she was kidnapped at gunpoint by her lyft driver and then raped by him and two other men in 2017. >>> new york is taking a dramatictep to try to curb teen vaping. it is become the first state to ban the sale of flavored e-cigarettes including everything except menthol and tobacco flavors. that move has some vaping advocates fuming. >> taking flavors out does not stop the abuse. the abuse from e-cigarettes doesn't stop the abuse. >> amid another death from the serious illness linked to vaping. a 40-year-old california man died from what health officials call severe pulmon
ube ser release a new safety feature called ride check. it can detect when your ride has gone off course or stopped for an unusual amount of time and when you've been in a collision. you could then use emergency buttons to report any issues to uber's safety line. uber's main rival lyft also has a similar 911 button and is expected to release a similar ride-check feature later in the year. according to the verge, a woman is using lyft for failing to keep safe after she said she was kidnapped at...
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Sep 23, 2019
09/19
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sources say that pursuers wanted to find out if he was going to coach more to join him at ubs. and at @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm su keenan. this is bloomberg. >> thank you so much for that. let's take a look at the markets at this point in time. it is a pretty risk off day, markets impacted by trump saying itwants a complete deal, and will be more difficult for the two sides to come together. we had a pretty tense protest, and that is not helping sentiment in hong kong. we saw how export numbers are pretty disappointing. when it comes to chip stocks and ,hip exports, that is down 40% getting a lift from energy stocks. sentiment in asia pretty much down, it is risk off, it all depends on trade and trade talks. at 7.13.hen currently let's take a look at nifty helping, the fact expectations those , and thatost growth should give the lift to the market. india's surprise moved to cut taxes means it has become one of the lowest countries in asia. the rate has been lowered from 30% to 22%, which is below the a
sources say that pursuers wanted to find out if he was going to coach more to join him at ubs. and at @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm su keenan. this is bloomberg. >> thank you so much for that. let's take a look at the markets at this point in time. it is a pretty risk off day, markets impacted by trump saying itwants a complete deal, and will be more difficult for the two sides to come together. we had a pretty tense...
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Sep 23, 2019
09/19
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they had a downtown brawl in zurich because detectives were following the wealth manager leaving for ubsuisse's own boar they are looking at the situation. romaine: they had a brawl in public? sonali: this is one of the top wealth managers in the world, trying to teach -- trying to take the phone away from the detectives following him. romaine: world leaders and diplomats gathering in new york city. there will be plenty of headlines to watch. the showdown between the u.s. and iran likely to overshadow the meeting. addressesdent trump the meeting, iran's delegation will be in the second row. the relationship obviously between the u.s. and iran right now is fractured, to put it mildly. what do we expect trump to say in his address? >> two weeks ago, heading into this meeting, it would have looked like things were on track rouhani tond hassan have a sit down meeting on the sidelines. since then, we had an attack on the saudi aramco facilities, iran's foreign minister has warned about conflict leading to all-out war. the u.n. meeting, these kind of meetings can still take place. we do know t
they had a downtown brawl in zurich because detectives were following the wealth manager leaving for ubsuisse's own boar they are looking at the situation. romaine: they had a brawl in public? sonali: this is one of the top wealth managers in the world, trying to teach -- trying to take the phone away from the detectives following him. romaine: world leaders and diplomats gathering in new york city. there will be plenty of headlines to watch. the showdown between the u.s. and iran likely to...
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Sep 5, 2019
09/19
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ub certainty is one of the biggest enemies a farmer has and we're adding a lot of it. with climate change. farmers have the most to lose. i believe in the clearly you're pioneering this. rural americans can be a huge part of the solution. to me, the quest for the net zero emissions cattle farm is one of the most exciting things we might under take. it db done right now. strictly speaking. but it's unaffordable. to make it pencil out. with e need to change the economics of it. it means federal investment and investment in u.s. da. department of agriculture. it means investing more in the conservation stewardship program for growers to make sure we're doing the right things with soil management. sounds like it's hitting a nerve. you never hear about it. scientifically, we're moving away from cattle to planting. there's the potential of our soil to take in as much as carbon as the entire transportation sector puts out. we have to unlock that. the way i see it in the same way we as a country are rightly proud of norman and the green revolution that fed a billion people. we
ub certainty is one of the biggest enemies a farmer has and we're adding a lot of it. with climate change. farmers have the most to lose. i believe in the clearly you're pioneering this. rural americans can be a huge part of the solution. to me, the quest for the net zero emissions cattle farm is one of the most exciting things we might under take. it db done right now. strictly speaking. but it's unaffordable. to make it pencil out. with e need to change the economics of it. it means federal...
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Sep 17, 2019
09/19
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ubs has maintained the reading of buy, but they increase the target price from 1900. see how the stock reacts to that report. ech is the other one in credit suisse has issued an underperform rating. close to 4000 rupees. discipline may be tough to weak demand to the we have seen in the june quarter. with that, and inspect you guys in the studio. yvonne: joining us from mumbai. cryptoup, the -- how one company is helping institutional investors navigate the world of digital assets. this is bloomberg. ♪ rishaad: bitcoin facing -- for the festival days, has dropped below $10,300. may spell trouble for the cryptocurrencies near-term. david: let's get an idea where this goes. let's go over to singapore now. and juliet is there maybe to tell us where it going -- it's going. >> maybe my next guest will. i'm joined by the cto, based in san francisco. bitgo the largest processor of bitcoin transaction, protested -- processing 15% of all transactions. they have $200 billion in assets. great to have you with us. i want to start with we had from the ecb. they had a few concerns a
ubs has maintained the reading of buy, but they increase the target price from 1900. see how the stock reacts to that report. ech is the other one in credit suisse has issued an underperform rating. close to 4000 rupees. discipline may be tough to weak demand to the we have seen in the june quarter. with that, and inspect you guys in the studio. yvonne: joining us from mumbai. cryptoup, the -- how one company is helping institutional investors navigate the world of digital assets. this is...
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market watcher from ubs coming up. he says settle down, everybody. we are up 400 points. ♪ at fidelity, we believe your money should always be working harder. that's why, your cash automatically goes into a money market fund when you open a new account. just another reminder of the value you'll find at fidelity. open an account today. stuart: at risk of sounding like a broken record, we are still up 400 points. the dow is up about 1.7%. that is a rally. 26 of the dow 30, in the green. they're up. >>> you know, there has been a lot of talk about a possible recession recently, but our next guest says oh, back off and relax. managing director at ubs is with us. so nail it for me. recession, yes or no in the next 18 months? >> we don't think so. stuart: that a no? >> that's a no. stuart: okay. >> that's a no. i any it i mean, it's obvious to see why the risks have gone up. there's mixed economic data, we have had an inversion of the yield curve which is structural predominantly from our perspective, and you've had all this noise around trade. so it's und
market watcher from ubs coming up. he says settle down, everybody. we are up 400 points. ♪ at fidelity, we believe your money should always be working harder. that's why, your cash automatically goes into a money market fund when you open a new account. just another reminder of the value you'll find at fidelity. open an account today. stuart: at risk of sounding like a broken record, we are still up 400 points. the dow is up about 1.7%. that is a rally. 26 of the dow 30, in the green. they're...