it is coming home to roost at unicredit. >> that's right.ke the other european banks, one of the measures that unicredit will turn to to improve profitability will be job cuts. we're hearing that the numbers could be in the range of 12,000, up to 9% of the workforce, and investors will probably be looking for other measures on how unicredit is going to the grappling with the interest rate environment which is pushing lenders to think about doing things differently. you know this bank well. where's the emphasis on the review? it is about building capital. which profit areas do you think it is going to build up? what do you think is going to come through the review? on boosting is these returns and taking one issue off the table, the concern about the capital letter. unicredit, the core measures of capital have been lagging. will be to see whether that question is taking off the table. that is to see new ways of boosting revenue, boosting margins, by gaining more commission-based income from services such as wealth management. manus: there's t

unicredit is cutting costs to improve profitability.ay be coming to a city near you --alibaba chairman jack ma says he may 24-houre company's shopping promotion to the u.s. and eu cap. alibaba has already handled more $12 billion. we will speak with jack ma at 9:30 a.m. eastern on bloomberg tv. david: broker-dealer drexel hamilton is one of several wall street firms of a military servicemen and women reenter the workforce. i went down and spoke with drexler hamilton and some veterans who are couple of years ago were in combat and now are working on trading desk. kim alonso spent four years on carrier harry s truman, supporting other missions in afghanistan, but the most daunting expense came after she returned stateside. thing, was the scariest there are much more scariest things -- scary things than war out there and that is the lesson i learned, trying to provide for your family, making sure you can put food on the table, you're not getting a call -- it is much more scarier than war. is among the veterans that have found a career in f

turning to other business headlines, unicredit has announced it will/ -- will slash 2018. y -- by the job cuts are part of a separate restructuring plan which will reduce its presence in germany and austria. japan's first commercial jet in half a century has made its maiden flight on wednesday. it took to the skies after three years of delays. mitsubishi hopes the model will help it establish in the aircraft industry. it has secured 223 firm orders so far. speaking of orders, airbus making sales this wednesday, including to a first-time buyer. the iranian president wants to do a deal with the aircraft manufacturer. this is ahead of his visit to paris next week. 10 ron has said it wants to buy 500 new planes over the coming decade -- tehran has said it wants to buy 500 new planes over the coming decade. parisn the streets of this wednesday, about 100 demonstrators gathered with a rather unusual protest, protesting attacks on feminine hygiene products. last month, parliament rejected a bill that would have reduced the tax on the products. is part of the growing international

. >>> so we're going to talk about unicredit. as i mentioned, this day and age we are talking a lot about job cuts, unicredit being the latest to announce a radical strategic overhaul that could reportedly include these 12,000 jobs to be cut. the italian bank is under pressure to strengthen its balance sheet and it's hoping to avoid a capital increase. according to several media reports they are looking to sell a number of assets including their retail operations in austria when it releases results on wednesday. >>> in the hotel space ihg intercontinental hotels group says it's not considering a sale or merger of the company. the statement follows recent speculation suggesting that the hotel operator was exploring its options. shares in the company are trading lower today but have gained recently on speculation of a deal. this comes off the back of star wood trying to sell itself off and a number of purchasers and buyers putting in bids includes a lot from china. hayat has thrown their hat into the ring. >>> sab miller is prepari

. ♪ unicredit announced a job losses yesterday, saying 18,000 jobs would go. bank's ceo spoke to bloomberg. >> we are targeting a double-digit -- non tangible equity. it is a sustainable target, achievable target. reached through cost-cutting. quite substantial. losses are a part of a large trend in the sector for 2015. if you have a terminal, you want to press loss go. this is where you will see these numbers reflected. barclays, deutsche bank, standard chartered cutting size through the workforce. deutsche bank set to cut 26,000 jobs. that is what the announcement is. the bannerthese are headlines. let's talk more about what is behind these numbers. when you see these banner headlines, we have had this over the years from a number of institutions. up ass not always end being these numbers we are seeing at the moment. these are huge numbers in terms of banking. >> those are big banks, too, very large staff. the key would be to understand exactly where they are coming from. are they coming from support staff, from technology, are they coming from investment ba

unicredit plans to cut 18,000 jobs by 2018. they seek to improve returns and expands capital.a: that news came as the bank lowered their profit target, and set a higher capital target. speaking to bloomberg tv, the ceo, fred ricco could sony -- said he was not concerned. >> i am not worried at all. even though we don't know yet the content. we have done a lot to improve. liquidity's is excellent. the quality of the asset is very good. it is improving. i am very confident. he also spoke about the prospects of qe expansion, which he expects to happen next month. he says that while there might be some negative short-term effects, they should be fully manageable. i was expecting a soundbite. it turns that we set it for him. -- said it for him. lena komileva is still with us. what do you think about the currencies? the people think that dollar's strength story goes , others say it might for a little while. lena komileva: we are still in a world of disinflation. the market diversions has not materialized. it has been a bizarre here for currencies -- year for currencies. the fed is i