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Oct 22, 2019
10/19
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coming up, ubs surpasses third quarter estimates. our interview next (client's voice) remember that degree you got in taxation? (danny) of course you don't because you didn't! your job isn't understanding tax code... it's understanding why that... will get him a body like that... move! ...that. your job isn't doing hard work... here. ...it's making her do hard work... ...and getting paid for it. (vo) snap and sort your expenses to save over $4,600 at tax time. (danny) jody... ...it's time to get yours! (vo) quickbooks. backing you. i don't have to worry about that, do i? harmful bacteria lurk just below the gum line. crest gum detoxify, voted product of the year. it works below the gum line to neutralize harmful plaque bacteria and help reverse early gum damage. gum detoxify, from crest. >> i'm not your charity case. >> i am not your excuse to buy a new dress for the annual fundraiser. >> i am not the poster child for your big donation. >> i am out of debts and in my own home. >> i am off opioids. >> i'm graduating on time and on my
coming up, ubs surpasses third quarter estimates. our interview next (client's voice) remember that degree you got in taxation? (danny) of course you don't because you didn't! your job isn't understanding tax code... it's understanding why that... will get him a body like that... move! ...that. your job isn't doing hard work... here. ...it's making her do hard work... ...and getting paid for it. (vo) snap and sort your expenses to save over $4,600 at tax time. (danny) jody... ...it's time to...
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Oct 22, 2019
10/19
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this is bloomberg. ♪ be's on --ng up, ubs ubs beats on the bottom line.will hear from the ceo sergio ermotti. up a president trump talks potential trade deal next month but wilbur ross says the devil will be in the detail. if you are traveling to work, tune into bloomberg radio in the london area. this is bloomberg. ♪ nejra: this is "bloomberg daybreak: europe." let's check in on the markets in asia. juliette saly has more. juliette: mostly positive moves but china's trade market is tracking lower. the pboc today injecting the most in open market operations since may. elsewhere, you are seeing some upside. the kospi is doing well. a lot of surge in semiconductors. in japanat move because japan of course is closed today for the holiday. a lot of corporate moves in asia. india tracking lower mainly due to the fact that you have seen the indian i.t. giant at the forefront of a whistleblower accused the ceo of irregular accounting. china mobile also under pressure in the hong kong session on the back of third-quarter numbers. they are saying the aca recovery
this is bloomberg. ♪ be's on --ng up, ubs ubs beats on the bottom line.will hear from the ceo sergio ermotti. up a president trump talks potential trade deal next month but wilbur ross says the devil will be in the detail. if you are traveling to work, tune into bloomberg radio in the london area. this is bloomberg. ♪ nejra: this is "bloomberg daybreak: europe." let's check in on the markets in asia. juliette saly has more. juliette: mostly positive moves but china's trade market...
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Oct 22, 2019
10/19
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we are watching ubs which has had a better day.o see a turn for the european story. thelatest concerns in brexit saga, does boris johnson have the votes to push through his brexit deal and will it emerge looking anything like the agreements he brokered with the european union? these are key questions that need answering. let's join sebastian salek. sebastian: we are looking forward to this motion. this is what is crucial today. after the vote on the second reading, which we think will pass through. boris johnson does not have the majority. we focus on the timing. there is not a lot of time to get this through. they want to push it in three days because the government staked its reputation on getting brexit done by october 30 first, just nine days away. frustrating the process for more time to scrutinize. this document only dropped last night and it is more than 200 pages long of dense legal text. it will take a lot of time and brainpower to get through, and there are some issues mps are unhappy about. tom: william hague and kenneth
we are watching ubs which has had a better day.o see a turn for the european story. thelatest concerns in brexit saga, does boris johnson have the votes to push through his brexit deal and will it emerge looking anything like the agreements he brokered with the european union? these are key questions that need answering. let's join sebastian salek. sebastian: we are looking forward to this motion. this is what is crucial today. after the vote on the second reading, which we think will pass...
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Oct 22, 2019
10/19
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we just heard from ubs.anks include rbs embarq ways, set the report as well as scandinavian banks. we also did earnings from the auto sector, psa group, tesla, and ford kicks things off with results tomorrow. tech earnings will be closely watched as trade war rumbles on while snap reports today. the likes of microsoft and twitter report later on wednesday and thursday. to watch out for include boeing and mining companies glencore and fortescue. a lot of earnings to follow this week. louise dudley from hermes investment management and twos, from standardewin chartered are still with us. i know you own amazon and other stocks. what are you expecting this earnings season? >> i think one of the key things we are excited to see is a return to the fundamentals. on the gooding companies, good quality delivering quarter on quarter. in market has been caught up the short-term macro fundamentals driving the market. we are hoping some of these earnings are going to drive people back to those good solid companies and se
we just heard from ubs.anks include rbs embarq ways, set the report as well as scandinavian banks. we also did earnings from the auto sector, psa group, tesla, and ford kicks things off with results tomorrow. tech earnings will be closely watched as trade war rumbles on while snap reports today. the likes of microsoft and twitter report later on wednesday and thursday. to watch out for include boeing and mining companies glencore and fortescue. a lot of earnings to follow this week. louise...
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Oct 2, 2019
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going back to credit suisse as a business going back to 2015, credit suisse has underperformed ubs by0%. why? >> one of the troubles thiam had is he arrived at credit suisse, ubs made a much clearer fist of restructuring their whole bank one clear visible strategy was immediately obvious to investors and clients. credit suisse has gone through more increment al changes. that has been less of a clear strategy and a more gradual process before they started to get themselves on track. >> we spoke to him earlier, he said the restructuring efforts have come to a close now they'll turn the new page and look to the future >> one of the issues they have is that the investment bank won't fully work for the strategy it doesn't have a clear fit with the wealth management industry >> we just heard from ubs that they are going to make some big changes in the investment banking unit probably just a question of time before credit suisse catches up with that as well. >> absolutely. no one has found a way of generating new revenue >> one question, kahn is leaving. he was running that division how much
going back to credit suisse as a business going back to 2015, credit suisse has underperformed ubs by0%. why? >> one of the troubles thiam had is he arrived at credit suisse, ubs made a much clearer fist of restructuring their whole bank one clear visible strategy was immediately obvious to investors and clients. credit suisse has gone through more increment al changes. that has been less of a clear strategy and a more gradual process before they started to get themselves on track....
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Oct 1, 2019
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he was not posed by ubs. i am surmising. commodity in the market for ubs to hire. >> that's right. this is something we have talked about for days. he was a rising star. someone well known in zurich. someone who would or had potential to attract clients in talent from credit suisse. that was always the concern. if you look at that press conference, the chairman made a reference to that. the coo put in place this operation with credit suisse will now tell you was wrong and disproportionate. he was looking after the interests of the bank. in terms of ubs, funnily enough, today was the first day at work for the man who said he felt personally threatened by this investigation, but again, the issue here, this is what the chairman alluded to, the fact there is professional and personal interest that colluded. a very toxic relationship at the top of the management here at credit suisse. there is also a number of question marks i would .2. -- i would point to. the obvious question is, how can you lead a bank and not know all this is
he was not posed by ubs. i am surmising. commodity in the market for ubs to hire. >> that's right. this is something we have talked about for days. he was a rising star. someone well known in zurich. someone who would or had potential to attract clients in talent from credit suisse. that was always the concern. if you look at that press conference, the chairman made a reference to that. the coo put in place this operation with credit suisse will now tell you was wrong and...
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Oct 11, 2019
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investment, ubs private banking stays with us. that saw markets equities arebal looking to end the five-day change. here with factors to watch is dani burger. dani: this week it was about momentum coming back in full force. over the past week, factors globally, momentum posting return up to present, and momentum and growth are doing well. we see values fall, they did well in december and now it is starting to lag. cheaper stocks in the value bucket. this has been one of the fastest resurgence is of momentum in history. when we see that, we see a lot of volatility come into the market. let's look at other calls that strategists made this week. bernstein said the calls for value to be dead is not true, value can have had return, but look out for companies with good free cash flow. that is the value metric they look for. nomura says it is about growth, and that will be to the detriment of value. jefferies says value is going to continue its september rally. look out for this to happen in small caps. matt: very interesting, dani burge
investment, ubs private banking stays with us. that saw markets equities arebal looking to end the five-day change. here with factors to watch is dani burger. dani: this week it was about momentum coming back in full force. over the past week, factors globally, momentum posting return up to present, and momentum and growth are doing well. we see values fall, they did well in december and now it is starting to lag. cheaper stocks in the value bucket. this has been one of the fastest resurgence...
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Oct 22, 2019
10/19
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what have we learned from ubs? >> i would say it's a minor wind for ubs today. wealth management unit better than expected. the investment bank was once again a bit of a disappointment. because the trading businesses underperformed. job in theed to cut investment bank. it's not quite the same level as a socgen or deutsche bank. there will be a $100 million charge in the fourth quarter later to that. ubs hasr news is that from crediter suisse. he's being tasked with a review of wealth management and i'm sure there will be some news to come after that. turn now to to canada where justin trudeau has won a second term but lost a majority in parliament in the popular vote. who voted for our party, thank you for putting your trust in our team. usnk you for having faith in to move this country in the right direction. alix: jon erlichman joins us from toronto. now what happens to justin trudeau? >> it's anyone's guess at this point. you are right justin trudeau and the liberals wake up back in power. but there were casualties in last night's election. like his father be
what have we learned from ubs? >> i would say it's a minor wind for ubs today. wealth management unit better than expected. the investment bank was once again a bit of a disappointment. because the trading businesses underperformed. job in theed to cut investment bank. it's not quite the same level as a socgen or deutsche bank. there will be a $100 million charge in the fourth quarter later to that. ubs hasr news is that from crediter suisse. he's being tasked with a review of wealth...
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Oct 21, 2019
10/19
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geoffrey yu is with ubs wealth management at we've got much more coming up. we barely touched on other global news. also all going on in asia including very difficult protests in hong kong. a good time to speak with meredith sumpter of eurasia group. please stay with us in westminster. this is bloomberg. ♪
geoffrey yu is with ubs wealth management at we've got much more coming up. we barely touched on other global news. also all going on in asia including very difficult protests in hong kong. a good time to speak with meredith sumpter of eurasia group. please stay with us in westminster. this is bloomberg. ♪
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Oct 23, 2019
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boost., ubs getting a we hear from the chief executive next.s is bloomberg. ♪ rishaad: welcome back. ubs will get a much-needed boost from wealthy asian clients in what was otherwise a tough quarter. the wealth management unit added almost $16 billion in the three months through september, with overall profit beating estimates, but they will book a $100 million charge in the fourth quarter to restructure the securities unit. tom: ubs ceo sergio ermotti discussed the quarter with manus cranny, in zurich. sergio: very challenging market conditions, but glad we were able to produce a solid performance in that context. manus: in terms of the investment bank, profits down 59% and you announced restructuring. what does that look like? sergio: market conditions in the last few quarters have been very challenging. for sure, they are not market conditions favoring our stra tegic choices. we are much more skewed towards europe and asia than the u.s., dominating. is but clientns, sentiment is better than outside the u.s.. manus: a $100 million charge. wha
boost., ubs getting a we hear from the chief executive next.s is bloomberg. ♪ rishaad: welcome back. ubs will get a much-needed boost from wealthy asian clients in what was otherwise a tough quarter. the wealth management unit added almost $16 billion in the three months through september, with overall profit beating estimates, but they will book a $100 million charge in the fourth quarter to restructure the securities unit. tom: ubs ceo sergio ermotti discussed the quarter with manus cranny,...
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Oct 21, 2019
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ubs chairman axle weber warned that on going trade and political uncertainty is keeping investors ones. >> you've seen pretty much with brexit but also with the trade disputes there's been enormous increase in uncertainty. uncertainty has been bad for investments all along. what you're seeing at the moment and we're seeing in our client base is almost an investor strike and the way i look at that is that as interest rates were very, very low and cost of investment are at historical lows the increased uncertainty whether rejigging your entire production chain will pay off by having parts of that production chain be in china or for europeans in the uk is a huge uncertainty. people will not take these decisions until the political decisions are taken. i'm more positive that we'll see an orderly brexit, but investors still want to see it on the table. there have been too many times the project has been delayed and now they're just holding out and waiting for investments. you can see that how investment in the uk has fallen off a cliff. that is not good as a dynamic part of the economy, s
ubs chairman axle weber warned that on going trade and political uncertainty is keeping investors ones. >> you've seen pretty much with brexit but also with the trade disputes there's been enormous increase in uncertainty. uncertainty has been bad for investments all along. what you're seeing at the moment and we're seeing in our client base is almost an investor strike and the way i look at that is that as interest rates were very, very low and cost of investment are at historical lows...
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Oct 2, 2019
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there's a lot of unrealized potential at ubs.y heating up, the competition between the two firms here. alix: that is really interesting. i also wonder what kind of scrutiny he's going to be under. light, are you actually worth all of this that happened? was the issue just with thiam? what are we paying for? sonali: there's a great story that points to the cleanup credit suisse has to do after this. thiam lost his cielo that had to step down after the scandal -- his coo that had to step down after this scandal. one of my colleagues told me thiam ateak two all, you had to go through his coo. alix: and just don't criticize your boss's stuff. thankerg's sonali bostic, you very much -- sonali ba sak, thank you very much. -- doesn't have a high opinion of the women's soccer pay suit. they are also better than the men. i'm just going to put that out there. coming up, we take a look at the market reaction to the latest ism manufacturing numbers in today's traders take. if you are heading out to your car, tune into bloomberg radio across
there's a lot of unrealized potential at ubs.y heating up, the competition between the two firms here. alix: that is really interesting. i also wonder what kind of scrutiny he's going to be under. light, are you actually worth all of this that happened? was the issue just with thiam? what are we paying for? sonali: there's a great story that points to the cleanup credit suisse has to do after this. thiam lost his cielo that had to step down after the scandal -- his coo that had to step down...
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Oct 21, 2019
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we have ubs on the slate. i will catch up with the ceo, sergio ermotti, on his numbers. inherent in that, there was a story on the bloomberg this morning talking about job cuts at ubs. we have run the story. ultimately, there will be hundreds of positions to go. 5300 people were in the investment bank. the return on equity is half that of the wealth management, so there is a lot of work to do for the team but we will catch up with him in terms of the members and in terms of the outlook. nejra, it is all about brexit. we have to find out whether this speaker will allow a meaningful vote. good morning, nejra. nejra: good morning, manus. you have the e.u. side as well as to whether they will back that extension. to stay with the u.k. for the moment, boris johnson ask the house of commons today to back his brexit deal after lawmakers frustrated his plans on saturday by voting for more time for the agreement to be scrutinized and forcing johnson to write to brussels to asked for a delay. the primehave written minister off. he has confounded the doubters. we have the numbers i
we have ubs on the slate. i will catch up with the ceo, sergio ermotti, on his numbers. inherent in that, there was a story on the bloomberg this morning talking about job cuts at ubs. we have run the story. ultimately, there will be hundreds of positions to go. 5300 people were in the investment bank. the return on equity is half that of the wealth management, so there is a lot of work to do for the team but we will catch up with him in terms of the members and in terms of the outlook. nejra,...
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Oct 11, 2019
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investment office at ubs, will stick with us.omaine: the fed announcing it is going to buy about $60 billion of treasury bills per month. joining us to talk a little more about that, bloombergs michael mckee is with us, our chief economics correspondent. was this largely what we were expecting? fedael: yes, chairman powell said last week they would start buying treasury bills, and announced it would be coming soon. want to rebuild the balance sheet. they feel the repose bike at the end and middle of september was a signal that the balance sheet had gotten too small, and they needed to bring it up a little bit. they want to work and what they call a regime of ample reserves, having more reserves than the banking system once, and they got to the point where they didn't have that. romaine: what do we read with regard to the times here? basically, they look like they've come up with a shortfall00 billion in where they want to be, so they are going to get to that position. they are trying to spread out so they don't have an immediate
investment office at ubs, will stick with us.omaine: the fed announcing it is going to buy about $60 billion of treasury bills per month. joining us to talk a little more about that, bloombergs michael mckee is with us, our chief economics correspondent. was this largely what we were expecting? fedael: yes, chairman powell said last week they would start buying treasury bills, and announced it would be coming soon. want to rebuild the balance sheet. they feel the repose bike at the end and...
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Oct 22, 2019
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ubs, the big investment bank.etimes i can see the operations directly in china, ship stuff there, don't. factories. i don't know. i just think it can be overkill. aaron gibbs is with us, investor extraordinaire. that's why have a problem like delineating how ubs could be exposed versus other names that actually have operations and significant exposure. >> it's tough. ubs, their excuse that it was from trade wars is ridiculous. >> neil: that it affected trading. >> that wasn't the area where they have the big hit. it was consumer and corporate banking. as well as investment banking. you might say investors are afraid and they didn't want to do as much activity but when you look at ubs, 25% of their revenues come from switzerland. they have negative interest rates. they are continually declining. it's really about that income going down. it's really about their backyard. it's about europe and switzerland. the lack of mma activity in europe. >> neil: i think a lot of companies in the president touched on this a few w
ubs, the big investment bank.etimes i can see the operations directly in china, ship stuff there, don't. factories. i don't know. i just think it can be overkill. aaron gibbs is with us, investor extraordinaire. that's why have a problem like delineating how ubs could be exposed versus other names that actually have operations and significant exposure. >> it's tough. ubs, their excuse that it was from trade wars is ridiculous. >> neil: that it affected trading. >> that wasn't...
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Oct 22, 2019
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one of those earnings reports weighing on markets comes from ubs. the swiss bank beat analyst expectations and posted a drop in third-quarter profits. it is 16% lower from the same time a year ago. division sunkk 16% lower. ubs has freeze hiring and cut bonuses as it is navigatingng a relatitively dififficult period. the french manufactuturer has announced a new contract. it has signed a deal with the regional government to supply 39 new trains. they will be produced in the same region. comes just a month after the french ststate real cocompany raised eyebrows by withning in majojor contract the spanish firm c cas. a general strike called for. the presidident plans to unveila new social compact. this m movement began n over a e in subway fareres d has grownwno encompass broader frustrations over inequality. protesters defy an emergency decree as anger continueues over the costst of living. what started with a hike in transport prices has broadened toto general discontent. what is happepening is nonot because they h have raised the metro ticket price
one of those earnings reports weighing on markets comes from ubs. the swiss bank beat analyst expectations and posted a drop in third-quarter profits. it is 16% lower from the same time a year ago. division sunkk 16% lower. ubs has freeze hiring and cut bonuses as it is navigatingng a relatitively dififficult period. the french manufactuturer has announced a new contract. it has signed a deal with the regional government to supply 39 new trains. they will be produced in the same region. comes...
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Oct 22, 2019
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tease wrp it's focused that's why i like this better than ub are.work too but not soon from a profitability standpoint. lyft is telling you they have a way tlgt and every quarter with incremental process the stock should grow to the valuation better. >> moving on, investors are gearing up for tesla, the company reporting results tomorrow after the bell. what's the options market expecting for the look car maker? let's get in the walks the realm capital founder roger dasilva zboo good tosz. >> you you as well melissa. >> what's the options in market implying. >> about a 8% move typical, smock in the range of 8 to 10% where it typically moves. however last quarter is dropped 15% people are geeing up for that as well. >> did the options market last quarter get it wrong. >> d price to do wrong for sure. >> how are you interpreting the action you see. >> well it seems that a bunch of calls traded last week, the nov 230 traded rolling up to the november 280s but what they are saying is locking in profit but poging for upside. >> dan are you watching in. >
tease wrp it's focused that's why i like this better than ub are.work too but not soon from a profitability standpoint. lyft is telling you they have a way tlgt and every quarter with incremental process the stock should grow to the valuation better. >> moving on, investors are gearing up for tesla, the company reporting results tomorrow after the bell. what's the options market expecting for the look car maker? let's get in the walks the realm capital founder roger dasilva zboo good...
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Oct 28, 2019
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to your markets and ubs, what is more important for global equities is it the trade deal or how brexitimately plays out? >> absolutely the trade deal so, that impacts globally. a lot of the, quote unquote, good news or the stable news we can get from brexit, that's already in the price we're bit of a holding pattern right now and markets are just focussed on when we can get an election that's our base case, election and then we can figure out what happens to brexit after that but in terms of global performance, what we're telling our clients, absolutely focussed on trade. >> okay. what happens if the trade deal goes south, both sides walk away without a deal >> i think that would be the biggest risk to market performance at this point and our location is not calling for both sides walking away. it's just we're a bit more muted on the potential for something very comprehensive this is a phase 1 deal, even if it's signed, all tariffs are removed, doesn't mean we can go to a phase 2 deal very, very quickly. it's just no escalation and you know that should be enough to keep things ticking
to your markets and ubs, what is more important for global equities is it the trade deal or how brexitimately plays out? >> absolutely the trade deal so, that impacts globally. a lot of the, quote unquote, good news or the stable news we can get from brexit, that's already in the price we're bit of a holding pattern right now and markets are just focussed on when we can get an election that's our base case, election and then we can figure out what happens to brexit after that but in terms...
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Oct 1, 2019
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he is set to join ubs today. matt: is interesting. long beforetogether they came to credit suisse, but thiam apparently knew nothing about this. we are hearing from the chairman of credit suisse that there is no cultural problem at the bank. they are not concerned this is part of the way those men operated. >> that is right. two points. one is they did work together for many years, they both came from the insurance business. the obvious question, how can you not know this is happening just below you? happening with people you should be responsible for? i'm sure the chairman will get that question. it is interesting to hear those comments from the chairman, who issued a very public apology saying this is bad for credit suisse. he also said this is not something that is done usually at the bank, that this should not happen, and they will ensure this does not happen. credit suisse will have to do a lot of soul-searching. the point of this press conference is to reassure shareholders they are on top of the situation and they want to clean
he is set to join ubs today. matt: is interesting. long beforetogether they came to credit suisse, but thiam apparently knew nothing about this. we are hearing from the chairman of credit suisse that there is no cultural problem at the bank. they are not concerned this is part of the way those men operated. >> that is right. two points. one is they did work together for many years, they both came from the insurance business. the obvious question, how can you not know this is happening...
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Oct 26, 2019
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ubs added clients at $15.7 billion in new money last quarter.ifting assets at the wealth management unit a record $2.5 trillion. >> profits are down. they are restructuring. what does it look like? >> market conditions the last few quarters have been very challenging. for sure they are not the market conditions are figuring strategic choices. we are much more skewed toward europe and asia then we are into the u.s.. this is still a business in terms of calendar in business activity. client sentiment is better than outside the u.s.. >> i would say it is a minor win for ubs today. their wealth management unit did better than expected. the investment bank was once again a bit of a disappointment. ubs has started to cut jobs in the investment bank, and they will be a $100 million charge in the fourth quarter related to that. >> u.k. prime minister boris johnson looking set to try for an election after parliament blocked his plan to rush the brexit deal into law. johnson warned defeat of the timetable leaves the u.k. in limbo. >> it does seem we are h
ubs added clients at $15.7 billion in new money last quarter.ifting assets at the wealth management unit a record $2.5 trillion. >> profits are down. they are restructuring. what does it look like? >> market conditions the last few quarters have been very challenging. for sure they are not the market conditions are figuring strategic choices. we are much more skewed toward europe and asia then we are into the u.s.. this is still a business in terms of calendar in business activity....
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Oct 3, 2019
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ubs might have made that call, too.n: there are certain places were more of the bad news is priced in. europe is one. japan would be another. cyclicalok at other heavy indexes, compare the bad news priced into europe and japan compared to the u.s., where things are still looking pretty full. your downside is limited there. alix: so no one cares about these tariffs? vincent: i care. romaine: i'm a wine guy. alix: i'm a johnny walker guy. [laughter] twoent: but you mentioned spots where it is not priced in. i think there are major hurdles for europe and japan that are not yet priced in. this is the pursed salvo perhaps in a tariff war with europe -- the first salvo perhaps in a tariff war with europe. there's no telling what this sales tax hike in japan. past, retail sales have cratered. this doesn't bode well for or japan.or europe in to that conversation. and romainearella bostick, thanks a lot. evan brown of ubs will be sticking with me. we used athe charts gtv on your terminal. livemusk fails to up to his own del
ubs might have made that call, too.n: there are certain places were more of the bad news is priced in. europe is one. japan would be another. cyclicalok at other heavy indexes, compare the bad news priced into europe and japan compared to the u.s., where things are still looking pretty full. your downside is limited there. alix: so no one cares about these tariffs? vincent: i care. romaine: i'm a wine guy. alix: i'm a johnny walker guy. [laughter] twoent: but you mentioned spots where it is not...
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. >>> turning to sam communist, senior enomists at ubs thas for joining us. >> thanks for having me.s slowdown in job growth, how much do you attribute to the trademo war? of it is just simply the business cycle? >> we think it's really an effect of the tradect war. we saw real manufacturing late last year as tariffs interrupted the supply chain that manufacturers rely on we thinkpe that's hng again now. and while we've been expng is to see the effects of the current round of tiffs would be to slow growth to near recession early next year. it looks like that's happeningra ncile sooner than we expeed. and maybe aittle more severely. are you the camp of one more d rate cut or given what you laid out would ite more than that? >> we think they're on their way cutti to a 1% funds rate. today after the payroll report and after the eak business surveys from earlier inhe week, we cuted our funds forecast rate cut in okay. cutting in october and continu through the first half of nex year. >> if the problem is mainly the trade war, the negotiations witb chinin againga next week. what if we get
. >>> turning to sam communist, senior enomists at ubs thas for joining us. >> thanks for having me.s slowdown in job growth, how much do you attribute to the trademo war? of it is just simply the business cycle? >> we think it's really an effect of the tradect war. we saw real manufacturing late last year as tariffs interrupted the supply chain that manufacturers rely on we thinkpe that's hng again now. and while we've been expng is to see the effects of the current round...
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Oct 22, 2019
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ibm was downgraded to neutral from buy at ubs. the analyst expects theompany to have trouble sustaining mid sing digit revenue growth given the pressures facing the legacy businesses. the pricearget is $140. the stock fell1% to 132.58. >>> ebay was wnaded to hold from buy at deutsche bank. e stock is expected to be range bound. the pce tget is $42. the stock was up 1% to $39.26. >>> apple's pricearget was hiked to $280 at raymondjames, which is the highest on wall street. the analyst says 5g, apple's biggest opportunity and raised the iphone saleses estim the firm hth an outperform rating. the shares rose to 1.5% to $240.51. >>> now to britin's exit from the european union or brexit. tonight a new twist in the ongoing drama. willem marks is in london. >> reporter: when british pri minister boris johnson leftin dostreet this weekend, it was to join lawmakers for their first saturday session in 37 years. in the hope of finally resolving an historic stabbedoff. >> this i the second deal and th fou vote 3 1/2 years after the nation vo
ibm was downgraded to neutral from buy at ubs. the analyst expects theompany to have trouble sustaining mid sing digit revenue growth given the pressures facing the legacy businesses. the pricearget is $140. the stock fell1% to 132.58. >>> ebay was wnaded to hold from buy at deutsche bank. e stock is expected to be range bound. the pce tget is $42. the stock was up 1% to $39.26. >>> apple's pricearget was hiked to $280 at raymondjames, which is the highest on wall street. the...
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eight would surveillance on the well nine banker at the end of august ubs announced is hiring. however khan became the way he was being followed and confronted investigators in the streets on september seventeenth as the massive became embarrassingly public. pretty suis then launched an internal investigation that found not only had to i acted alone but that tom had never attempted to poach are the clients all personnel. further complicating the if that was news there's a middle man between pretty swiss and the security firm who carried out the surveillance lost we committed suicide. and while they've opened a criminal investigation swiss prosecutors. are currently treating the death as suspicious. credit suisse trip clearly trying to turn the page on thisis a saga tom about lots of unanswered questions still. yet extraordinary story by the sounds of things thank you very much indeed kate movie that. with that and the rest of the day's b 10/01/19 10/01/19 10/01/19 10/01/19 [captioning made possible by democracy now!] amy: from new york, this is democracy now! calleditive corrup
eight would surveillance on the well nine banker at the end of august ubs announced is hiring. however khan became the way he was being followed and confronted investigators in the streets on september seventeenth as the massive became embarrassingly public. pretty suis then launched an internal investigation that found not only had to i acted alone but that tom had never attempted to poach are the clients all personnel. further complicating the if that was news there's a middle man between...
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i need to call ubs that poor guy is starving. >> you are paying higher fees to draft kings than ubs >> we are not trading any stocks i don't know how they make any money. ubs is the old overfrom everything else in general electric fortunate enough to hold all our ge stock to china, the country celebrated national day yesterday now we are hearing beijing could take a harder line against hong kong eunice yoon joins us it seems protesters are taking it to another level. >> that's right in hong kong overall this week, the government offices are closed, you mention for national day holidays the state media has been in full force. they've been praising beijing's strength as well as the latest piece of military kit which is an intercontinental military missile. the longest range missile china has ever had said to be capable of reaching america's shores within 30 minutes. on social media, a lot of people saying, this shows china can defend itself. now china won't be bullied by the united states. even the state run people's daily, one of the voices here has been fanning more with 10 cent on a
i need to call ubs that poor guy is starving. >> you are paying higher fees to draft kings than ubs >> we are not trading any stocks i don't know how they make any money. ubs is the old overfrom everything else in general electric fortunate enough to hold all our ge stock to china, the country celebrated national day yesterday now we are hearing beijing could take a harder line against hong kong eunice yoon joins us it seems protesters are taking it to another level. >> that's...
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says that ubs wealth chaos in em could be a buying opportunity.k haefele, ubs wealth management level cio, will be joining us. happy tuesday morning, everybody. this is bloomberg. ♪ alix: this is "bloomberg daybreak." in the markets we saw record highs in the s&p yesterday, led by visa, microsoft, the old-school companies. taking a little bit of a break here. -- down byby 0.2% 0.2%. it looks like we will have another election coming sometime in december, but you won't have a brexit deal pushed forward in parliament until that election. you can see the effect in the currency market. the dollar gaining steam in the g10 space. the curve here 19 basis points. the bond selloff yesterday continuing in asia, but now taking a break in europe and the u.s.. ubs wealth management has a plan for investing in chaotic latin american companies. a strategist from the bank noting that populist movements can be a boon for money managers, writing, "while investors need to monitor developments, we continue to see opportunities for investors in emerging-market assets
says that ubs wealth chaos in em could be a buying opportunity.k haefele, ubs wealth management level cio, will be joining us. happy tuesday morning, everybody. this is bloomberg. ♪ alix: this is "bloomberg daybreak." in the markets we saw record highs in the s&p yesterday, led by visa, microsoft, the old-school companies. taking a little bit of a break here. -- down byby 0.2% 0.2%. it looks like we will have another election coming sometime in december, but you won't have a...
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if you are do shebang, you're different from ubs.fferent from ubs. i tried to understand whether there was a credibility concern for him, and for credit suisse, and then we talked about negative rates and the impact it has on their bottom line. tom: let's get to first word news in new york city with viviana hurtado. viviana: the early election he wanted -- boris johnson got the election he wanted. is set for december 12. the campaign pits johnson against labour party leader jeremy corbyn. corbyn called the election to -- a chance to build the country for the many, not the few. peugeot psa confirming they are exporting attire. fiat says the deal would create one of the leading mobility groups. under one proposal, psa would be the acquiring entity. deutsche bank is still shrinking, even after getting rid of unwanted businesses. terminate's largest -- germany -- deutsche bank has reported a 13% decline in earnings from trading, fixed and some securities, and currency. we spoke with the cfo. >> we are comfortable that we have seen moment
if you are do shebang, you're different from ubs.fferent from ubs. i tried to understand whether there was a credibility concern for him, and for credit suisse, and then we talked about negative rates and the impact it has on their bottom line. tom: let's get to first word news in new york city with viviana hurtado. viviana: the early election he wanted -- boris johnson got the election he wanted. is set for december 12. the campaign pits johnson against labour party leader jeremy corbyn....
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about a one month high road map begins with new pressures for boeing, downgrades at credit suisse and ubsenewed congressional scrutiny, shares tumbling 10% on the past week. >> opioids on trial in ohio for drug companies reaching a last minute settlement ahead of a landmark first federal opioid case. >> and mark zuckerberg speaking out, why the facebook ceo tells nbc news it is more important to be understood than it is to be liked. shares of boeing under pressure, having its worst day in more than 2 1/2 years, losing almost 7% friday. as we said, credit suisse and ubs cut the stock to neutral from buy today boeing under scrutiny following the revelations of the emails from 2016, which called into question the safety of the 737 max jet's flight control system. the board met over the weekend, expressed regret over the message, continuing to investigate. dennis muilenburg is scheduled to testify at house transportation next week reuters suggested this board meeting in texas may consider things like job cuts and some other kinds of trimmings to spending but worse day on friday than any day s
about a one month high road map begins with new pressures for boeing, downgrades at credit suisse and ubsenewed congressional scrutiny, shares tumbling 10% on the past week. >> opioids on trial in ohio for drug companies reaching a last minute settlement ahead of a landmark first federal opioid case. >> and mark zuckerberg speaking out, why the facebook ceo tells nbc news it is more important to be understood than it is to be liked. shares of boeing under pressure, having its worst...
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one of your stocks to watch, ubs. the damage the swiss bank says the low interest rates are causing. >> and we get ready for the world series the high price the yankees have paid for a decade of heart ache. wait until you hear this number fans you'll send us some nasty tweets after this for silky hair, glowing skin and healthy nails. nature's bounty, because you're better off healthy. >> welcome back. a live look at parliament. the river looking so calm and peaceful not going to say chaos but certainly contention now just 10 days until the uk leaves the european union. let's see if boris johnson is making any head way. steve is in the middle of it all. lay it out he's trying to jam this through. what does his day look like? what does he have to accomplish? >> it is 110 pages of the withdraw bill plus 125 pages that they got thrust upon them as well. around 2:00 eastern time they'll have this vote on the second agreement that happens about 7:00 p.m they'll ask him to vote on something else they'll have to vote on a pro
one of your stocks to watch, ubs. the damage the swiss bank says the low interest rates are causing. >> and we get ready for the world series the high price the yankees have paid for a decade of heart ache. wait until you hear this number fans you'll send us some nasty tweets after this for silky hair, glowing skin and healthy nails. nature's bounty, because you're better off healthy. >> welcome back. a live look at parliament. the river looking so calm and peaceful not going to say...
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we are talking credit suisse and ubs. they are both facing similar issues which is where this story started from equally, they are set back by the negative interest rate environment. how do you see things panning out for this sector as a whole >> swiss rates are very low. the swiss banks have really reduced their reliance on the swiss income wealth management is under a lot of pressure in fees. for china, for example, there is evidence that business has grown year-on-year there are good targets that return to the down sides the swiss banks can deal with the negative rates and come to this big term issue. that was the fixed income strategist >>> police have fired tear gas as thousandstake to the street of hong kong as china marks the 70th anniversary of rule in china. things have taken a turn for the worse. what started out as peaceful demonstrations have deteriorated we are seeing a little bit of fire there, reports of tear gas and the demolition of cars you can see things are really beginning to tense up. let's get to sh
we are talking credit suisse and ubs. they are both facing similar issues which is where this story started from equally, they are set back by the negative interest rate environment. how do you see things panning out for this sector as a whole >> swiss rates are very low. the swiss banks have really reduced their reliance on the swiss income wealth management is under a lot of pressure in fees. for china, for example, there is evidence that business has grown year-on-year there are good...
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ubs also in restructuring mode we'll get that story back at least next year. they will of course look for consolidation. for now, as i was saying, the bank was in restructuring mode moral is not great but still they are executing their strategy back to you. >> that is in the auto space just opening up. slow to open after the initial start. what has happened for stock didn't open initially and then spiked 10% also since we got more volume in the trade. now bouncing 7.4%. this on the back of chrysler confirming there has been a tie up talk with psa group they are seeing the response on the boards it does tell you appetite of those investors. the costs of the huge transition phase among electric and autonomous vehicles and peugot getting into some of that area sharing that cost and fiat getting back into the game without spending a huge chunk of investor's money and getting access to the united states market through this deal if it progresses if you could see the logic behind some sort of a deal between these two companies. what has been interesting is the reacti
ubs also in restructuring mode we'll get that story back at least next year. they will of course look for consolidation. for now, as i was saying, the bank was in restructuring mode moral is not great but still they are executing their strategy back to you. >> that is in the auto space just opening up. slow to open after the initial start. what has happened for stock didn't open initially and then spiked 10% also since we got more volume in the trade. now bouncing 7.4%. this on the back...
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still with us is private wealth advisor and portfolio manager at ubs, and our cross assets reporter. we were just talking about software, nasdaq up over 1.1%. even prior to the volatility, this area has looked frail, some of the red-hot growth names getting totally slammed. is this an area that has become attractive again? that 20 yeark at average forward-looking on the technology sector, it is below that average. you can build the narrative you would like to believe in in some cases, but in this case, the ash sector being up over 30% a component part of the s&p 500, valuations are rich in given that chinese tariffs front and the companies in that sector that you have to be careful as an investor to really understand what it is you are owning. that as we to that are experiencing this daily frenetic agita -- agita is a good word -- but if we take a step back and give investors the benefit of perspective, i have been managing money since 1998, so let's go back 20 years, and the u.s. large-cap equities have only been down five out of 20 of amazing, is kind and that is arguably during on
still with us is private wealth advisor and portfolio manager at ubs, and our cross assets reporter. we were just talking about software, nasdaq up over 1.1%. even prior to the volatility, this area has looked frail, some of the red-hot growth names getting totally slammed. is this an area that has become attractive again? that 20 yeark at average forward-looking on the technology sector, it is below that average. you can build the narrative you would like to believe in in some cases, but in...
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we have a lot of changes still at ubs.s the kickoff, but now we are saying more people moving around. what does this bank want to do to stem the volatility? week we had an , andview with the ubs ceo one of the things he told us is that he is a test with costs, and that he has a plan to look at costs across the board, including banking. this unit went through a revamp very recently where there were big changes. the idea is that they want to -- the traditional areas of strength have been in wealth management, and ubs was one of the first banks to pivot from investment banking to focus on wealth management. what you are saying is a .ontinuation of that pivot they are a dressing units that are not performing well, that are expensive. at the same time you saw a lot of loyalists have followed, and it looks like the future of many of these top executives is in doubt. revamp, ubs did signal that several hundred jobs may be at risk. anna: let's move on from the specifics about who is going where and talk about bnp paribas and their
we have a lot of changes still at ubs.s the kickoff, but now we are saying more people moving around. what does this bank want to do to stem the volatility? week we had an , andview with the ubs ceo one of the things he told us is that he is a test with costs, and that he has a plan to look at costs across the board, including banking. this unit went through a revamp very recently where there were big changes. the idea is that they want to -- the traditional areas of strength have been in...
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an: the jp morgan, ubs -- ubs, and credit suisse credit line will be entirely paid back. we reported that 385 million of that is drawn. he still has wiggle room that has not yet in drawn. caroline: quite amazing. employees of course being lost but adam neumann appears to be doing all right. thank you for all of that breakdown. now, a change in leadership but not strategy at under armour. kevin plank is stepping down as ceo but will stay on as executive chairman. the under armour president and coo will step in as the new ceo as of january 1. i got to sit down with the outgoing and incoming ceo and ask about the transition. >> this is completely my decision, of course in concert with a terrific board of directors. that was part of the process of getting to know each other, work with each other. recently, we have been talking about this idea of moving from defense to offense. it really is the perfect opportunity for the business to do that. what i think this really gives us is this ability for freedom. kept ascending in the organization, it was, whose hands are on the wheel?
an: the jp morgan, ubs -- ubs, and credit suisse credit line will be entirely paid back. we reported that 385 million of that is drawn. he still has wiggle room that has not yet in drawn. caroline: quite amazing. employees of course being lost but adam neumann appears to be doing all right. thank you for all of that breakdown. now, a change in leadership but not strategy at under armour. kevin plank is stepping down as ceo but will stay on as executive chairman. the under armour president and...
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laura came of ubs global wealth of ubsent -- laura kane global wealth management. or todd it is here with first word news -- viviana or todd a is here with first word news. viviana: vice president mike pence criticizing china's actions against protesters in hong kong. he also accuses beijing of curtailing the rights and liberties of the city's residents. the u.s. justice department opening a criminal investigation on illegal spying on donald trump and his 2016 campaign. it has been largely secret for months. the investigation is widening just as the u.s. house impeachment inquiry is becoming a threat to the trump presidency. over to northern california's wine country, where pg&e had a power line failure moments before a wild fire broke out nearby. that fire blackening 16,000 acres, destroying 49 structures. earlier this week, the bankrupt utility turned off electric power to half a million people in california to prevent powerlines from starting fires. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in
laura came of ubs global wealth of ubsent -- laura kane global wealth management. or todd it is here with first word news -- viviana or todd a is here with first word news. viviana: vice president mike pence criticizing china's actions against protesters in hong kong. he also accuses beijing of curtailing the rights and liberties of the city's residents. the u.s. justice department opening a criminal investigation on illegal spying on donald trump and his 2016 campaign. it has been largely...
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sonali: ubs is not the top three in the equity capital markets.e not goldman, morgan stanley, jp morgan, but they hang on strong, and the reason is because they have an essential wealth management movement. they do some private placements, so they work with a lot of young companies looking to raise private money. equity capital markets is one of the really important parts of the investment bank. a lot of the talents that grew up in that business rose to the very top of that bank. who took am kendall strategic role, also on his way out of the bank. also grew up in equity capital markets. alix: so where did they go? sonali: that's a good question. a lot of the private equity firms and hedge funds, even millennium, has hired out of banks. takei are building up capital markets. -- kkr building up capital markets. alix: it seems like a decent bet. great to have you back. we missed you when you were in vegas. in today's off the beaten street, we've got your halloween on wall street jam. bankers shed the pinstripes and the bucky costumes -- and the wacky
sonali: ubs is not the top three in the equity capital markets.e not goldman, morgan stanley, jp morgan, but they hang on strong, and the reason is because they have an essential wealth management movement. they do some private placements, so they work with a lot of young companies looking to raise private money. equity capital markets is one of the really important parts of the investment bank. a lot of the talents that grew up in that business rose to the very top of that bank. who took am...
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wealth management quit his job to join ubs. to poach he would try clients or bankers, credit suisse had him followed. was allegedly responsible for --.operation, uncovered by con wase have zero evidence he informed about it. apologizing, the bank added -- the board of directors considers the mandate was wrong and disproportionate. >> an internal investigation has shown he has never attempted to poach clients. there is an ongoing criminal investigation into the case. two of the majoror investors hae said he should stay in his position unless there is proof he broke the law. stephen: sellers using amazon will have to pay higher costs on giants, including amazon. they decided to pass this onto service,hat use the which makes the commission higherer than the british, g ge, or itatalian seses. today.nomic data out inflation in the euro zone fell to 0.09 percent. that is the lowest it has ever been in almost three years. global trade wilill see the slowest growth since the financial crisis. on the currency markets, the $1.09. trading
wealth management quit his job to join ubs. to poach he would try clients or bankers, credit suisse had him followed. was allegedly responsible for --.operation, uncovered by con wase have zero evidence he informed about it. apologizing, the bank added -- the board of directors considers the mandate was wrong and disproportionate. >> an internal investigation has shown he has never attempted to poach clients. there is an ongoing criminal investigation into the case. two of the majoror...
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ubs is cutting 40 jobs in the asia-pacific region.are roughly split 's markethe swiss bank and investment teams. ultimately, it may eliminate hundreds of positions. i'm viviana hurtado. that is your bloomberg business flash. alix: we turn now to wall street beach. first up, goldman banker arrested for insider trading. the banker allegedly shared deals tips with a restaurant tour. and bridgewater's flagship fund still suffering from the low bond yield. and the new world order. the u.s. continues to be the center -- will the u.s. continue to be the center of economic power? joining us is bloomberg's sonali basak. let's start with goldman. this blew up over the weekend. sonali: another insider trading scandal. three is a lot in 18 months. the most recent is interesting because a guy was leaking information for almost three years, and goldman didn't know until the guy was arrested. so how do you not know that this is going on inside your bank? i think that is a tough one. for what it is worth, goldman is not the only one lately. alix: sur
ubs is cutting 40 jobs in the asia-pacific region.are roughly split 's markethe swiss bank and investment teams. ultimately, it may eliminate hundreds of positions. i'm viviana hurtado. that is your bloomberg business flash. alix: we turn now to wall street beach. first up, goldman banker arrested for insider trading. the banker allegedly shared deals tips with a restaurant tour. and bridgewater's flagship fund still suffering from the low bond yield. and the new world order. the u.s. continues...
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Oct 22, 2019
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ubs out with numbers earlier. it's wealth management unit added 50.7 billion new dollars.lames "challenging market conditions." he spoke to bloomberg in zurich. >> still very challenging market conditions. i am glad we were able to bring a solid performance into this difficult context. >> in terms of the investment bank, profits down 59%. you announced a restructuring. what does that mean? what does that look like? >> market conditions have been very challenging and they are forthe market conditions business and strategic choices. we are much more skewed toward europe and asia that we are to the u.s. this is still a business where the u.s. is dominating in terms of calendar, and terms of business activity, and client sentiment is better than outside the u.s.. >> you will take $100 million of a charge. what cost savings we get and will mean job losses? region ofct in the $90 million a year cost savings. most importantly, it will give us an opportunity to refocus our , for example in the markets business we will focus on our execution, on our structuring and our financing bu
ubs out with numbers earlier. it's wealth management unit added 50.7 billion new dollars.lames "challenging market conditions." he spoke to bloomberg in zurich. >> still very challenging market conditions. i am glad we were able to bring a solid performance into this difficult context. >> in terms of the investment bank, profits down 59%. you announced a restructuring. what does that mean? what does that look like? >> market conditions have been very challenging and...
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. >> ubs is cutting 40 jobs in the asia-pacific.loomberg has learned protections are split -- reductions are split at vice president level or below as part of the global push to trim costs. a goldman sachs banker has been arrested on insider trading allegations. u.s. securities says the vice president linked to non--- leaked to nonpublic information as part of a scheme that led to -- he is the third goldman employee in 18 months to be charged over insider trading. china's base rate for new corporate loans stayed steady in october. the one year loan prime rate was set at 4.2%. analysts expected a reduction as the chinese economy sees its weakest growth since the early 1990's. berlin freezing rents. the city's government party striking a five-year deal to regulate housing costs. that paves the way for legislative approvals next week. foreign policy comes into force next year. it's one of the most radical plans to ease the burden after a property boom caused rents to double over the past decade. that is your bloomberg business flash. >
. >> ubs is cutting 40 jobs in the asia-pacific.loomberg has learned protections are split -- reductions are split at vice president level or below as part of the global push to trim costs. a goldman sachs banker has been arrested on insider trading allegations. u.s. securities says the vice president linked to non--- leaked to nonpublic information as part of a scheme that led to -- he is the third goldman employee in 18 months to be charged over insider trading. china's base rate for...
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thanks to geoffrey yu joining us from ubs wealth management. vonnie: back to earnings.lroading routes continue to see trade tensions and the slow down in trade manufacturing threatening weakness for the u.s. economy. union pacific is suffering the steepest drop in carloads. union pacific ceo lance fritz joins us from omaha. a very open call as usual with yourself. you do not shy away from weaknesses in the earnings. you also mentioned headcount cuts. what are you anticipating in terms of headcount cuts for the rest of 2019 and into 2020? lance: what we shared on our call was even though the topline volume dropped 8%, through productivity initiatives at the x work on our operating team, we were able to match that with overall headcount down about 13%, showing real productivity, which fundamentally shifted the cost structure of the company. as we look forward to the fourth quarter, we said year-over-year comparison unemployment might look down 15%. we are anticipating volume in the fourth quarter to look about like what volume look like in the third quarter in terms of a
thanks to geoffrey yu joining us from ubs wealth management. vonnie: back to earnings.lroading routes continue to see trade tensions and the slow down in trade manufacturing threatening weakness for the u.s. economy. union pacific is suffering the steepest drop in carloads. union pacific ceo lance fritz joins us from omaha. a very open call as usual with yourself. you do not shy away from weaknesses in the earnings. you also mentioned headcount cuts. what are you anticipating in terms of...
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Oct 21, 2019
10/19
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BLOOMBERG
tv
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line,t is coming over the ubs cutting 40 jobs in asia.ill make a fresh attempt to deliver on his pledge to take britain out of the european union by october 31. u.k. prime minister's backers gethe has enough votes to the deal through parliament as soon as monday. on saturday, the commons approved an amendment seeking a further brexit delay, forcing johnson to make a formal request to the eu for extra time, but he goe it clear he would rather that way -- there was no extension. >> i will not negotiate a delay with the eu. and neither does the law compel me to do so. i will tell our friends and colleagues in the eu exactly what i have told everyone in the last 88 days i have served as prime minister, that further delays would be bad for this country, bad for our european union, and bad for democracy. this weekends brexit develop its have left investors with yet more uncertainty. sterling fell, holding a four day winning streak, but it could be short-lived due to a lower chance that the u.k. will not crash out of the eu without a deal. to as
line,t is coming over the ubs cutting 40 jobs in asia.ill make a fresh attempt to deliver on his pledge to take britain out of the european union by october 31. u.k. prime minister's backers gethe has enough votes to the deal through parliament as soon as monday. on saturday, the commons approved an amendment seeking a further brexit delay, forcing johnson to make a formal request to the eu for extra time, but he goe it clear he would rather that way -- there was no extension. >> i will...
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Oct 10, 2019
10/19
by
BLOOMBERG
tv
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hand saying you still want to be fairly toitioned on the downside balance risk, but there are folks at ubsere is some caution around that, that the authorities are not going to want to let the currency weaken too much further from here, and of course, we have seen recent strength in the last 12 hours or so. the offshore yuan has been trading pretty well as this momentum kind of builds going into that friday continuation of the talks, but, really, the base case for the market now is you getting some relief rally because you have not got an escalation of the current tensions, not so much that you've got any kind of short-term resolution of anything substantial. of course, we have seen volatility surge in the treasuries market. the dtv chart on the bloomberg showing how the treasury volatility is actually higher than the vix even. what is going on here, and what can we expect? adam: and it has been an interesting dynamic because you have had that pickup initially in the early part of september, even when yields were backing up in sovereign bond markets, but treasuries, volatilities remain pre
hand saying you still want to be fairly toitioned on the downside balance risk, but there are folks at ubsere is some caution around that, that the authorities are not going to want to let the currency weaken too much further from here, and of course, we have seen recent strength in the last 12 hours or so. the offshore yuan has been trading pretty well as this momentum kind of builds going into that friday continuation of the talks, but, really, the base case for the market now is you getting...
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Oct 1, 2019
10/19
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BLOOMBERG
tv
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credit suisse also went on an apology tour and apologized to the former employee, who is joining ubs. they said as far as credit suisse is concerned, the investigation is done. it is interesting that this europe prosecutor has said -- the zurich prosecutor as that the investigation is continuing and they want to look into the death of the contractor who is the link between credit suisse and the private investigators. the investigation will continue when it comes to the process you should. to quantifyossible the reputational damage being done to credit suisse? point, i would say that is speculation and nobody can tell. if you look at the share price, it jumped on the news that the ceo would stay. the ceoked at this as was doing a good job, credit suisse found no indication and he was in the midst of a turnaround plan. what was alluded to many times this morning's they do believe this had a bad impact on the brand and on credit suisse. syria's reputational damage is something that -- serious reputational damage is something the chairman alluded to. credit suisse and ubs compete for the
credit suisse also went on an apology tour and apologized to the former employee, who is joining ubs. they said as far as credit suisse is concerned, the investigation is done. it is interesting that this europe prosecutor has said -- the zurich prosecutor as that the investigation is continuing and they want to look into the death of the contractor who is the link between credit suisse and the private investigators. the investigation will continue when it comes to the process you should. to...
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Oct 14, 2019
10/19
by
CNBC
tv
eye 107
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ubs downgrading tapestry to neutral.ut challenging macro and industry dynamics, a slow kate spade turnaround and competition from the re-sale market and morgan stanley and raymond james lowering their target on netflix to $400 from $450, but both firms maintain their buy ratings on the stock and goldman sachs and ubs also lowered their price target so when it comes to netflix, one of the things that's interesting is raymond james says, look, this competition from streaming wars is highly overblown, because the research shows that people have more than one of these services >> yeah, i think there's a couple of things going on with netflix. this year, they raised their prices to a level that know streaming service has ever had that happened earlier in the year "b," i think a lot of consumers got the sense that a lot of the content they got used to on netflix over the last few years will be leaving and going to these other services yes, the truth is, the services haven't even launched yet. we don't even have zplodisney p ye
ubs downgrading tapestry to neutral.ut challenging macro and industry dynamics, a slow kate spade turnaround and competition from the re-sale market and morgan stanley and raymond james lowering their target on netflix to $400 from $450, but both firms maintain their buy ratings on the stock and goldman sachs and ubs also lowered their price target so when it comes to netflix, one of the things that's interesting is raymond james says, look, this competition from streaming wars is highly...
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Oct 9, 2019
10/19
by
KRON
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>> such a boy's ub.st not -- it was really funny. >> jennifer ended up having the best of both worlds. tv icon with "friends" and occasional "snl" host with classic skits. >> when are you going to have a baby? on on are the friends really friends? >> she appeared with howard stern's new hollywood studios. the star shut down an offer to set her up. >> do you want me to set you up right now? >> not right now. i don't like being set up. i don't like it, i hate it. >> jennifer is out promoting her new apple tv plus series, with reese witherspoon, the morning show. >> we're doing this my way. >> as for "friends," a few months ago she gave us a reboot hope. >> see what happens. >> now? not so much. if there's a reboot of the show, it will be even close to as good as what it was. so why do it? >> it would ruin it. >> it would ruin it. >> while jen is out promoting her new show, angelina is on to what we're calling a reinvention tour. >> first up, check her out in not her usual black, no the white. but radiant i
>> such a boy's ub.st not -- it was really funny. >> jennifer ended up having the best of both worlds. tv icon with "friends" and occasional "snl" host with classic skits. >> when are you going to have a baby? on on are the friends really friends? >> she appeared with howard stern's new hollywood studios. the star shut down an offer to set her up. >> do you want me to set you up right now? >> not right now. i don't like being set up. i...
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Oct 21, 2019
10/19
by
FBC
tv
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credit suisse, ubs as well as baird switching positions to neutral.ook at price targets with credit suisse is the lowest, quite negative in the report stating 323. they wouldn't support this especially given the leaked emails. neil, charles yourself, saying boeing is the worst performer on the dow today. year-to-date it is still a little bit higher, up a little bit about 2% year-to-date for 2019. latest story we're hearing that the boeing ceo sent an internal message to all the employees today saying there is steady progress, steady progress, returning those 737 max planes into the air. still no date. we don't know when this is going to happen. benefits you're seeing on the screen, dennis muilenburg who is the ceo. he was stripped of title of chairman last week. there is big questions who is going to be held accountable for the two crashes, 346 lives that perished. dennis muilenburg however does have to testify in front of capitol hill at the end of the month. they also have to deal with earnings. doesn't seem like he would step down anytime soon. you
credit suisse, ubs as well as baird switching positions to neutral.ook at price targets with credit suisse is the lowest, quite negative in the report stating 323. they wouldn't support this especially given the leaked emails. neil, charles yourself, saying boeing is the worst performer on the dow today. year-to-date it is still a little bit higher, up a little bit about 2% year-to-date for 2019. latest story we're hearing that the boeing ceo sent an internal message to all the employees today...
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Oct 2, 2019
10/19
by
KRON
tv
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ubs have 20 drone deliveries a day to start with. report says us retailers are eat top target for cyber attacks. thales a 62% of retailers 30 point. 7% say they had a breach of in the past year. the retail is especially vulnerable because it's an industry that has a lot of data on people live from the nasdaq, i'm jane king back to james very cool. thank you so much jane ok. >>oakland files a lawsuit over ownership of the coliseum just as these are getting ready to host a winner take all playoff that doesn't seem like a diving. to rent this little tiny unit. i just gave it away great and taking a look at the push of the bay bridge you can see it's crowded we've got a see it's crowded we've got a really nice spider web ♪ sup. wh- whacha doing? i'm watching food. try my $3 cheddar bacon loaded curly fries. get 'em delivered with doordash. try my $3 cheddar bacon loaded curly fries. ♪ ♪ try my $3 steak and parm loaded curly fries. get 'em delivered with doordash. hey, shaq. it's a 30 second tour. no man it's like... now it's 26. welcome
ubs have 20 drone deliveries a day to start with. report says us retailers are eat top target for cyber attacks. thales a 62% of retailers 30 point. 7% say they had a breach of in the past year. the retail is especially vulnerable because it's an industry that has a lot of data on people live from the nasdaq, i'm jane king back to james very cool. thank you so much jane ok. >>oakland files a lawsuit over ownership of the coliseum just as these are getting ready to host a winner take all...
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Oct 22, 2019
10/19
by
LINKTV
tv
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he looks for ubs advertisements on the internet and he notifies the police. >> the dog is perhaps eighto 10 weeks old. it is not allowed to be in germany and to be sold here. >> puppies can only legally be exported from 15 weeks. they must have received all of the required vaccinations. for their own sake and to avoid spreading disease. >> if you look on ebay there are over 16,000 ads for dogs. >> just on ebay? >> there are other platforms. >> what about across europe? >> millions of dogs are sold each year in the margin is huge. dogs can be bought cheaply in eastern europe and sold for up toto four times the price. >> according to germany's main welfare association, m most puppies i illegally comome from europe. especially romania. there, the dog mafia is another trick. as well as pedigree dogs, they also smuggle stray mongrels sourced from shady groups or from individuals. roromania. stray dogs are a problem here. few people take care of them. they are either euthanized or smuggled into europe in the views conditions. this person battles the smugglers at the other end of the network.
he looks for ubs advertisements on the internet and he notifies the police. >> the dog is perhaps eighto 10 weeks old. it is not allowed to be in germany and to be sold here. >> puppies can only legally be exported from 15 weeks. they must have received all of the required vaccinations. for their own sake and to avoid spreading disease. >> if you look on ebay there are over 16,000 ads for dogs. >> just on ebay? >> there are other platforms. >> what about...