investment bank but since then it slipped all the way down to number eight that's coming after the us banks credit suisse from switzerland and britain's barclays there's been a steep decline in revenue to fall in from over thirty three billion down to twenty six point four billion euros what i know wonder shareholders are up in arms many are directing their anger at supervisory board chief. he's been in the positions in twenty twelve and is accused of steering the bank in the wrong direction but christians even plan to cut jobs isn't saving the bank any money tortures share price for ling on wednesday to its lowest in seventeen months and it's not just the investors who are unhappy. they came to express their contempt for deutsche bank protesters who gathered outside the annual shareholders meeting in front foot to see germany's largest lender as an example of everything that's wrong with the financial world the announcement of more than seven thousand job cuts just comes weeks after the bank appointed a new boss the uk to current results leave us no other choice we need to set in place the conditions in

bank and since then it's slipped all the way down to number eight now that puts it behind us banks credit suisse from switzerland barclays from britain. there's been a steep decline in revenue to falling from over thirty three billion to twenty six point four billion euros no wonder shareholders are up in arms many directing their anger of supervisory board chief powell. now he's been in the position since twenty twelve and is accused of steering the bank in the wrong direction but christians even plan to cut jobs isn't saving the bank any money larger share price falling today to its lowest in seventeen months and it's not just the investors who are unhappy. they came to express their contempt for deutsche bank protesters who gathered outside the annual shareholders meeting in front foot to see germany's largest lender as an example of everything that's wrong with the financial world the announcement of more than seven thousand job cuts just comes weeks after the bank appointed a new boss the. current results leave us no other choice we need to set in place the conditions in order to sustain lo

bank or credit suisse or even singapore's biggest bank, bds. those are hypothetical options being explored. manus: talk to ust the activist investor shareholder. anna and i caught up with jes staley a couple of weeks ago. he didn't want to say a great deal about it, but is this all to do with -- tos would be a radical move bring barclays and standard chartered together on the back of a 5% shareholder? russell: it does seem a radical move. branson is known for his activist role in other companies, including british financial institutions. he has expressed an interest in shrinking operations at barclays and in start contrast to what jes staley wants to do, he is dogged in his desire to pursue investment trading of that business which has been underperforming. and is an area of conflict we will have to see how this plays out. some barclays and it -- board members have met with the shareholder, so we have to see how that relationship regresses. , bloomberg's ward asia finance editor in tokyo. --clays reaching out to both bloomberg reaching out to barclays and standard chartered and other names on this. standard

bank are credit suisse. guy: that is interesting. talk to us a little about the sherbourne angle and what sherborne wants.aybe a reduction in risk-weighted assets, and that leading to a significant return to shareholders. is that the epicenter of all this? russell: it does appear to be. that is one of the main demands. ,o shrink the investment bank it uses up a lot of capital and that goes in direct conflict to what jes staley is trying to do. he is trying to boost the investment bank and feels there is a future in investment banking for barclays. they had a good quarter last quarter in the trading, but it hasn't been performing well in recent times. and whatthat conflict this activist shareholder wants to do is shrink that operation, which has about 25 billion pounds of capital and distribute that more to shareholders. we will just have to see how that plays out. guy: thank you very much, russell ward, bloomberg's asia finance editor joining us out of tokyo. standard chartered already trading sharply to the upside in hong kong. , a return to europe now decision on italy's next prime minister could be ann

credit suisse with us. an important day for governor carney. in 30 minutes, bank of england rate decision.re like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. tom: good morning, bloomberg "surveillance." bank of england coming up. huge international news flow today. taylor: china is urging the u.s. -- the commerce secretary says negotiators continue to talk and beijing is opposed to the plan to impose tariffs on chinese imports. the top chinese economic advisor goes to washington next week. russia is urging a summit between donald trump and vladimir putin following the decision to leave the iran nuclear deal. a meetingbloomberg would give diplomacy another chance. he is going to tehran today to meet with iranian officials. in malaysia,

us, the commercial property market is recovering. the ecb is in charge of the important banks in italy. it is no longer the banks italian. rced to clear the credit suissetes. >> you're not worried about politics? guest: history has shown that if you ignore the politics and focus on the direction of asset prices, you win. >> thank you so much. continuing the conversation with her colleagues on the radio and 7:30 a.m. u.k. time. north korea says it was surprised by trump's decision to cancel the june 12 summit and that it still wants to meet. what is the outlook for he's on the korean peninsula -- for peace on the korean peninsula? we have fantastic panel discussions on bloomberg today. you don't want to miss that. they will be talking about the korean peninsula and global trade. this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every compe