. -- it's got afrom boost from its sale in visa europe. francine: lifted one banks.still with his jonathan tyce. jpmorganamakrishna at managed -- asset management. rbs was one of the worst performers did we cannot -- performers. its bank done 50% -- deutsche bank down 50%. is there anything that makes you think they are going to have better quarters from now one? >> good morning. there is always hope. the problem is a johnson was highlighting, [indiscernible] patience.ime, there will be more capital rates -- francine: in a year? or two years? environment.nomic how it shares out did it also depends on -- shares out. it depends on how the banks are able to raise fruitfully. execution is the name of the game francine: jonathan, we look at the bank stocks and i come on here sometimes and within five minutes the share price tanks and you don't understand why. and there are rumors. put should a sealed do to -- what should a ceo due to put it to rest? jonathan: the one thing is regulators signaling there isn't enough high-quality equity. currently when they give the steamro

europe. that is, unless turks get visa free access in october. turks must do what they promised. is erdogan bluffing? is europe willing to call his bluff? coming up, battle o of the avengers, a militant group that's creating havoc in nigeria's oil-producing region. they want autonomy. the government is warning of an eminent showdown. whatever happened to the berlin wall? you might want to ask the garbage collector. tonight how an icon of the cold war ended up on the trash pile of history. >> we begin with the turkish threat. erdogan gave an ultimatum. either allow turkey citizens visa-free travel to the european union or you are theally start holding back refugees who want to enter the e.u. a new migrant crisis in the making. here's more from berlin. >> many german turks don't understand the uproar over this news. ankara threatens to terminate the refugee deal the turkish government is not threatening anyone. it's about turkish democracy. many here say turkey ought to be treat like other european countries. ankara's agreement allows for the return of migrants denied asylum in euro

benefiting from the sale of the stake in visa europe . a good performance in the international banking division and lower loan provision. if you look at the shares of societe generale, the beginning of the year, they have been trailing the french rival b.n.p. paribas. markets, the reason you have the deputy ceo saying that under the most advanced stress tests, they had a ct one ratio of only 7.5% which is lower than deutsche bank or b.n.p. paribas is because societe generale is dependent on market. the investment bank in the second quarter, the profit fell 36%, second biggest risk is the lower interest rate environment. 5.2% in thet fell second quarter. the political risks, the deputy ceo told me he saw geopolitics as the biggest risk for this coming year and the next year. not only brexit but also the elections in the u.s., germany, france and the referendum in italy, the uncertainty. this is what he said the target of 10% should not be achieved -- could not be achieved this year. manus: caroline connan, thank you so much. let's bring in

this is a boost from its sale of its stake in visa europe. has seens seen -- axa lowers.to 3.2 billion euros. missing the estimate of five analysts surveyed by bloomberg. axa's new ceoto next month. to expand itsking lead on apple with the note s7. it can display high dynamic range video. it is being launched at least a month before apple is expected revamped iphones. instagram is copying snapchat. users can write over images, add annotations, and post material in slideshow form. instagram is also calling it a product of stories. that is your bloomberg news flash. anna: asian stocks have extended their drops and oil sees concern over global growth. good morning. >> crude oil looking at wti, still below $40 a barrel. 5% in the previous two sessions. we have weekly data showing that u.s. crude has declined and all -- and oil has halted its slide. not just of uti but rent as well. -- brent as well. asian stocks still extending those declines. the asia-pacific index down for the second day. this is concerns about global growth but we have japan's fiscal stimulus package falli

we think the integration with visa europe will be a creddive to their margins the next 12 to 18 months a lot to like. >> all right, good to see you. doug mckay, jason ware. >>> let's get a check on your markets and your money. bob down at the stock exchange. >> reporter: and intra day highs, we've got two things helping the market, number one, follow through for the jobs report more importantly, crude's up almost 9% and that's when the market started turning around. energy stocks are a new market leadership group up about 4 1/2%, overall part of the s&p 500 and look at these energy names, two, three, four% moves like a patchy and conoco, and slumber j, and also on the upside, drillers have been particularly strong in the last couple days so atwood, or seadrill, or ensco, up 7 or 8%. the other thing helping the market, you mentioned the technology stocks. it's important four of the five biggest names in the s&p 500 are all tech names by market capization exxon is number five right now. facebook had almost bigger market cap than exxon. you could have said all five of the biggest companie

every few month use need to fly back to europe and stamp your visa after a few visa i applied for a green card a the story goes on, trump tail of returning to europe for visa renewals is inconsistent with her holding an h1b visa at all times she was living in new york. even if she was lesser known hb visa designed for models all right it gets a little bit complicated. but those pictures came out earlier this week on front page of the new york potion, she said all along that she came here in 1996 apparently those photos where it gets tricky for her if she were here in '95 what visa did she have and immigration attorney expert on these matters and worked with the trump organization regarding models mr. michael wild noted attorney good to see you. >> you've seen the reports did she do anything young? >> no. organization when donldz owned it. visas now are hb3 for fashion models or o visas vee sac for people at higher standard. i believe from all of the rortle sheeted the h1b3 traveling back and forth to get visa if necessary. i think this whole thing is mute. first of all you should know i'm

turkey, listen to this, threatening to release three million migrants into europe unless the europeans allow visaree travel for 70 million turkish citizens to europe. how about that? more varney in a moment. there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. >>how ch mey d disy ma? we'll find out aer t opening bell. there are worries about espn and how it's performing. disney stock, by the way, is down 9% this calendar year. how about this, turkey's president, renewing threat to release three million more migrants into europe. he wants free access for all turks, 70 million of them, go anywhere you like in europe, if you don't like that, here come three million migrants. that gives him leverage. >> i call that from a little to angela merkel brought this on herself. and you said i

waiverr words, the visa program to europe, they are still checking out and people are investigated. ey have to apply online. and especially, for people who are immigrating, people who are coming in on the student visa, or an immigration visa. the loophole that is being closed, which i think is important, has been the fiance-wife visa. i think that was the easiest to get and that is now the one they focus on, and with good reason. >> that is actually a very hard visa to get. >> it is hard to prove you are actually married. they don't investigate in the sense they investigated me. >> you are canadian. [laughter] say, "you are canadian," everyone is like "yeah."

long-term visa but rather a temporary visa, telling harper's bazaar magazine, quote, you follow the rules. you follow the law. every few months you need to fly back to europe and stamp your visa. after a few visas, i applied for a green card and got it in 2001. but immigration lawyers say if she truly was here on a visa that needed to be stamped in her own country every six months, she would not have been authorized to work in the u.s. and if she lied about intending to work, it's visa fraud, which could jeopardize her current citizenship even though she's married to a u.s. citizen. the trump campaign is standing by melania's statement, which reads, quote, i have at all times been in full compliance with the immigration laws of this country, period. any allegation to the contrary is simply untrue. and tonight, a partner in the paris modeling agency that melania worked for in the mid-90s is backing up her claim, saying melania was working in the u.s. on a legal, long-term h 1 b visa and that she's mistaken about needing to get it stamped every few months. immigration records could clear this whole thing up, but they cannot be released without melania trump'

visa she had at the different stages of her american experience. >> that's right. and from the description we just heard from her in which she was going back every few months to europe to get a visa stamped, which is a description she's made of her experience more than once, that sounds like a b 1 or a b 2 visa, the kind of thing you get as a tourist or business traveller and the kind of thing that wouldn't permit you to work as a model. >> and -- ben, your story sort of spooked the trump campaign and through releasing a statement today about her history. they released it in her voice. it's in writing and says i have at all times been in full compliance with the immigration laws of this country, period. any allegations of the contrary are simply untrue. >> but alex, that statement, like everything else the trumps have said about this, never refers to any specific kind of visa as she worked her way along, eventually, up to getting a green card before she married donald trump. >> exactly. so to date, the statements at the trump campaign have made have been platitudes, very vague statements about compliance with immigration laws of this country and all applicable laws.

in other words, the visa waiver program to europe, they are still checked out and people are investigated. they have to apply online. especially for people immigrating. people coming in on a student visa or immigration visa. the leopold that is being closed -- loophole that is being closed is the fiance-wife he said. easiestthat was the to get and the one they focused on. >> it is hard to get. >> it is hard to prove if you are actually married. they don't investigate in the sense that they investigated me. >> you are canadian. [laughter] >> i think both of the candidates are naive in some respects about what kind of real problems they will face. where, has of syria a been a worse example of our failure in terms of creating an opposition army? the free syrian army? half of them and al qaeda and the other half surrenders and gives up their weapons. we have to acknowledge a couple things about syria. bashir al-assad is a mass murderer. he is an evil man. he is like stalin. and yet he poses no threat to america. we have to accept the fact that the people, the majority of the people fighting a

i think about, for example, even the visa waiver program we have with europe. i mean we have a lot of ability to travel very freely right now, obviously, and we want to preserve that. however, how do we maintain that if europe, for example, is not able to figure out its own terrorist amongst? and you've talked about this a lot, kt, it's very difficult right now with more than a million migrants having gone into germany in the last -- >> europe should be the template and how to do it because they've had open borders, multiculturism and cut back on their intelligence, national security, and their military. and what have we seen? we now see europe, which can't really get in front of their security problems where they have migration problems, they have security problems, and it's going to take them a -- trish: and not to mention the economic problems, which they're already struggling with, but you have the cost bringing all of these people in that can't be assimilated into society. but, again, back to the danger of isis spreading worldwide through the freedom to tr

you agreed to let turkish citizens travel to europe without a visa. sayropean that turkey's antiterrorism measures are undemocratic. bickering and tedium marks the first day of the in-store -- of the historic impeachment trial. -- is expected to lose the final trial that will wrap up next wednesday and she is accused of using -- two heidi budget deficit. conservatives in the house of representatives have their own cussingent target, john he impededblican say an investigation into whether the tax agency improperly targeted conservative nonprofit groups. passed the measures house, it would be blocked by the democrats in the senate. donald trump and hillary clinton are swapping -- over race. -- helping the radical fringe toeover one of america's major political parties. -- and use of private e-mails while secretary of state. disgraced american olympic summer, ryan lochte has a new sponsor. people can give lochte a second chance. ads.ll appear in global news, 24 hours a day, powered by 2600 journalists and analysts in more than 120 countries. i am taylor

in other words, the visa waiver program to europe, they are still checking out and people are investigated. they have to apply online. especially for people who are immigrating, people who are coming in on the student visa, or an immigration visa. the loophole that is being closed, which i think is important, has been the fiance-wife visa. i think that was the easiest to get and that is now the one they focus on, and with good reason. >> that is actually a very hard visa to get. >> it is hard to prove you are actually married. they don't investigate in the sense they investigated me. >> you are canadian. [laughter] >> when you say, "you are canadian," everyone is like "yeah." >> i think both the candidates are naive in some respects about what kind of real problems we will be facing. i will use the example of syria where, has there been a worse example of our failure in terms of creating an opposition army, the free syrian army? half of the are in al qaeda, and the other half surrendered and gave up their weapons. we have to acknowledge a couple things about syria. bashir al-assad is a mas

complain that the valuation is too rich, but having come back from europe where nobody seems to take american suppress, it's clear mastercard and visa win. i'd take ma. >> for me, best in show is something that shines even when things don't look that good and today, if you looked at silver, slv, even though the dollar was up, gold went down, silver was up. quietly, it's doing something interesting. >> steve. >> yesterday, it was my final trade. dollar gen. butchered down 18%. i said it was day one. today was two. defended that 75.13 low on day one. let's wait for monday, but i think you're going to make a nice profit. >> tim. >> at the risk of -- i do have a pick. avon. this has been a huge dog for the last couple of years. this is a name that's starting to turn margins around. >> that does it for us here on fast. catch us back on monday at 5:00. optio options action starts after this break. where, in all of this, is tthe stakes are so high, ur finances, ur future. w doou solve this? yoyopath a firm that advises govements and the fortune 500, and, caneliveright perto person, morgantanley. on what matters to you i'just a guy who want

visa there's a process. >> whether about entries? we have over a dozen countries in europehat wave a lot to get in and out for business. what about that? >> specifically he was referring to countries which are known exporters of terrorism. i assume you don't have visa waivers in those countries. we have also checks set up with belgium and france -- >> i guess the question is in the cas of what trump has out it's lined here, they won't name the country. are we to assume they are only countries of muslim countries? there are other countries that have a problem with terror. those are problem countries that have -- >> they are a source of terror. it will come out. the answers to those questions will be given. you can assume they are countries which are known exporters of terror. if you look at the map of the world you know what donald trump is talking about. >> what are you going to prevent or achieve? >> well, listen. the bottom line is you don't want people here who hate the way this country works, who thinkings the institution should not be the law of the land. i will tell y

the europeans, for example, that could potentially come here because of our visa waiver program, and we have seen this in europe, has islamic extremist tendencies. how do you vet against that? >> you're exactly right, trish. that's hard. you're going to miss people if you just rely on that kind of vetting. you've got to do other things. you've got to run agents that infiltrate overseas groups that might be inclined to terror. see if any of them is planning to visit the united states. you've got to run a higher operation, a set of operations. you can't just sit there and look at whoever shows up on the airplane. >> let me ask you about the reference he made to russia, effectively being willing to extend an olive branch in that we're in this fight, as he would see it, together. in other words, we share a common enemy. when you think back in history, ambassador, that's kind of what happened in world war ii, right? >> exactly right. >> we linked up with the likes of stalin because we needed to defeat the nazis. is history in some ways replaying itself here? >> trish, you're exactly right. we were allied for three y

what's the difference between visa-free travel and simply releasing refugees and illegal immigrants into europeecause it sounds like the same thing. >> it is the same thing and, in fact, the crisis that europe has been going through over the past year with literally millions of people transiting turkey, going into greece, going into the balkans and then throughout europe, germany, france, the nordic countries and beyond i think erdogan has directly responsible for. those people couldn't get from refugees camps in syria or afghanistan across turkey unless erdogan and his authorities were giving them not just a wink and a nod but facilitating their travel. so erdogan was used refugees already as a weapon against europe and he is just threatening to do it again and his cozying up to putin is a very clearly signal to the europeans that he thinks he can go in a different direction if they don't accommodate him. >> this is a delicate play on erdogan's part, however, syria, assad, russia, then to introduce turkey as part of the multi-polar spear of influence for russia in the middle east and southern

what's the difference between visa free travel and just simply releasing refugees and illegal immigrants into europe? because it sounds like the same thing. >> it is the same thing. and, in fact, the crisis that europe has been going through over the past year with literally millions of people transiting turkey, going into greece and then throughout europe, germany, france, the nordic countries and beyond, i think it was directly responsible for it. those people can't get from refugee camps from syria or even farther field in afghanistan across turkey unless his authorities were giving them not just a wink and a nod but if facilitating their travel. so has already used the refugees against europe and threatening to do it again. and cozying up to putin is a clear signal to the europeans that he thinks he can go in a different direction if they don't accommodate him. lou: this is a very delegate play on his part, however. syria, russia, iran, and then the multipolar spirit into the middle east and southern europe and southern asia. i mean this is getting very complicated, a delicate act for even putin

probably no surprise but according to visa, the majority of travelers are from latin america and the caribbean. 30% from europenly 15% come from north america. visa says the tourists during the olympic games spend twice as much per visit than regular tourists during the london summer games u.s. visitors spent nearly $175 million, then the french coming in second place or silver if you will, spent about $125 million. the australians spent $50 million. so you might be asking what are they buying here in rio. a lot of flip flops. >> as athletes and tourists explore rio, they may be trading in their running shoes for foot wear made famous here. it's just two straps and a piece of rubber. they're flip flops. and the brand that has become synonymous with them was born right here in brazil. havianas. everywhere you look in rio, created in brazil in 1962 the brand has grown to a global foot wear power house. >> they don't say i'm wearing flip flops i'm wearing havaianas. the director of marketing. >> tourists went to brazil in the past decade and got to learn the brand and took a pair home, we grew internationally. >>

visa free travel is a redline for him. the problems in europe are equally as real.verybody's going to reach the physical gun. the thing about fiscal policy is it is direct. monetary policy requires lag and people changing their folios. fiscal policy, a check in your pocket, a tax cut. that is much more direct and it works. guy: to caroline's point, they have to have fixed income to u.s. 10 years, 1.57 -- where is it in a year? would you sell u.s. treasuries and invest in areas where the ecb and boj will are going to continue to invest as well? trade. the relative where do you think it is good to outperform? the u.s. market seems to be -- isn't that where the story starts? stephen: the u.s. market is still more tractive. -- is more attractive. on a currency basis. trump also said that he is going to cut the corporate tax rate to 15%. tohink that is going to lead the end of corporate diversions and a large amount of cash. all of these cash mountings will be brought home. i see that we've got another big leg in the dollar to come. by your dollar corporate bonds on hedg

europe, they are still checking out and people are investigated. they have to apply online. and especially, for people who are immigrating, people who are coming in on the student visa, or an immigration visa. the loophole that is being closed, which i think is important, has been the fiance-wife visa. i think that was the easiest to get and that is now the one they focus on, and with good reason. >> that is actually a very hard visa to get. >> it is hard to prove you are actually married. they don't investigate in the sense they investigated me. >> you are canadian. [laughter] say, "you are canadian," everyone is like "yeah." >> i think both the candidates are naive in some respects about what kind of real problems we will be facing. syria use the example of where, has there been a worse example of our failure in terms of creating an opposition army, the free syrian army? qaeda, them are in al and the other half surrendered and gave up their weapons. we have to its knowledge a couple of things about syria. bashir al-assad is a mass murderer. he is an evil man. he is like stalin. and yet, he poses no threat to america. idea that accept the the majority of the people

according to visa, the majority of travelers are coming from the caribbean and latin america. 30% from europeou can believe this one, 15% from north america. visa says that tourists during the olympic games have spent twice as much per visit than regular tourists during the london summer games. u.s. visitors spent nearly $175 million, joseph, talking about inequality. the french $125 million. the australians nearly $50 million. you might be asking yourself what they're buying here. a lot of half ana flipflops. they may be trading in running shoes forefoot wear made here. the brand synonymous with them was born right here in brazil. halfiaanss. the brand has grown to a global footwear powerhouse. >> they don't say i'm wearing flipflops. >> the north american director for the flipflops. >> for the past decade, got to learn the brand and took a pair home. we grew organically, internationally. >> since 1962, 3.5 billion pairs of the flipflops have been sold around the world in a combination of 500 company owned and licensed stores. that's 220 million pairs a year. >> we produce about eight pairs

use as you said the visa system properly to come into this country and then act as sleeper agents until they activated and did the attack. same thing with the attack we saw in europe. this extreme vetting donald trump is talking about today is nonsense. it really has no basis in reality. there's only so much you can do. we use national intelligence, deep level national intelligence about members of isis but to tell you the truth, there are far more disturbing things in his speech than that. >> every time you go in a bank they say do you promise not to rob this bank and everybody would say i'm not going to rob the bank and the bank robbers would say it and then rob it. what is extreme vetting? it sounds ridiculous and i know it is, but what is extreme vetting? obviously the bad guys will lie. >> yeah. i don't really trust bad guys to work on the honor system. i think there are two things with this. first off, i'm pleased that people are saying islamic terrorism. i'm glad we are finally at that stage. >> trump is. >> we need to identify it. >> you think obama's not clear about who our enemy is? >> well, when we have the fbi who is redefining words in their documents

individuals who come from europe on european passports to fight and can return and then travel to the united states. general taylor: that's for me. let's start with the fact that the visa waiver program is not a waiver of a visa program. it is a security program that individuals have to apply for and have to provide certain data that is screened against our holdings with regards to central threats that they present. one of the most important parts of that is their identity, who they actually are. that's a part of that validation occurs. there's concern certainly for anyone coming out of syria with a fake passport. we believe that the strength of the visa waiver program that we use to that -- to vett those individuals, is very strong. there are additional data elements that are required under the program for folks to apply. i think it is a threat that we are most concerned with. our colleagues in the immigration customs enforcement area are working very closely with european partners and others on fake documentation and passports. we are getting better and better at understanding what that risk is. and how that risk may manifest itself within the visa waiver program goi

europe, britain, canada. everywhere. some as young as 14, trump model management advertising on their website that that's the minimum age limit. they come here, sometimes on tourist visas and you cannot work in the united states on a tourist visa. that we know. >> yeah, i just want to be clear here. you have women on the record, named on the record saying, i went there on a tourist visa and i worked. it's a violation of immigration law. on its face. >> so as you mentioned, two of these former models at trump model management told me they were encouraged, instructed, send your portfolio ahead of time, so they don't find them. >> right. address down, use a different address so we don't know where you are in new york city when you arrive. >> i have to remind everyone, the core of this debate is about breaking the law. they broke the law. they broke the law, they broke the law. sarah, this story reads like a dee kensian, share cropper model. they have a debt to their employer, they're paying the expenses and the employer is skimming off what they're making, but this is completely common place in the industry. >> that's exactly right. it's a superficial industry, but the pr

europe. and so, it's in this context in 1948 that truman pushes for a displaced persons act. dp, displaced persons. not refugees exactly, but that's what he calls them. and they are offered visas to the united states, some 200,000 people. and it is initially sort of put forward by a group of more liberal inclusionists that our reading describes, but they are afforded in some profound ways by the actors who administer this program. so one of the interesting themes that's emerging in u.s. refugee policy history is who is the state? who is actually implementing the law? not simply what the law is on the face of it, but who gets to decide how people come in. and this is an interesting story in 1948. so, it's designed really to aid victims of nazism and fascism. that's the stated purpose of the displaced persons act, one would think jewish people of those who survived. and yet of the 200,000, only about 20%, or 40,000 people, who are admitted are jewish, which is a fairly small percentage. and quite extraordinary are the number of people who are actually ex-nazis who come into the country under the displaced persons act. not only ex-nazis, nazi sympathizers coming along next to tho

individuals who come from europe on european passports to fight and can return and then travel to the united states. general taylor: that's for me. let's start with the fact that the visaaiver program is not a waiver of a visa program. that a security program individuals have to apply for and have to provide certain data our is screened against holdings with regards to central threats that they present. one of the most important parts of that is their identity, who they actually are. that's a part of that validation occurs. there's concern certainly for anyone coming out of syria with a fake passport. we believe that the strength of the visa waiver program that we vett those -- to individuals, is very strong. there are additional data elements that are required under the program for folks to apply. i think it is a threat that we are most concerned with. in theleagues immigration customs enforcement area are working very closely with european partners and others on fake documentation and passports. we are getting better and better at understanding what that risk is. and how that risk may manifest itself within the visa waiver program going forward. mr. sanderson: any co

europe. and so, it's in this context in 1948 that truman pushes for a displaced persons act. dp, displaced persons. not refugees exactly, but that's what he calls them. and they are offered visas to the united states, some 200,000 people. and it is initially sort of put forward by a group of more liberal inclusionists that our reading describes, but they are afforded in some profound ways by the actors who administer this program. so one of the interesting themes that's emerging in u.s. refugee policy history is who is the state? who is actually implementing the law, not simply what the law is on the face of it, but who gets to decide how people come in. and this is an interesting story in 1948. so, it's designed really to aid victims of nazism and fascism. that's the stated purpose of the displaced persons act, one would think jewish people of those who survived. and yet of the 200,000, only about 20%, or 40,000 people, who are admitted are jewish, which is a fairly small percentage. and quite extraordinary are the number of people who are actually ex-nazis who come into the country under the displaced persons act. not only ex-nazis, nazi sympathizers coming along next to tho