the imf and world bank have all cut their forecasts for india. tors feel it is important that the rate cut... banks start reducing rates, so that businesses can borrow at a cheaper rate and consumers start borrowing money, so that they can 51:9. rt}! borrowing money, so that they can start — and frf’mef, 5— one grrfmjaj, 73 one thing grr’mjij,7 one thing?! 7 7 reg/lye rowth. but one,t ' ' ta ke reg/lye rowth. but one,t ' ' take i you reg/lye rowth. but one,t ' ' economy ”i recover. = reg/lye rowth. but one,t ' ' economy ”i recover. —— i reg/lye rowth. but one,t ' ' the| economy ”i recover. —— i reg/lye rowth. but one,t ' ' the| ec| rupee f? recover. —— i reg/lye rowth. but one,t ' ' 86%... severe | prime heads for a 41—4 112.4; +- |'::l——x-— a...— -. with 41—4 1555545: 5- |'::l——5-— 55... -. with trump. = close the countries are close trading partners but ever since mr trump took office relations have turned more frosty. earlier i asked if the sentiment in japan had more frosty. earlier i asked if the sentiment injapan had changed regarding mrtrum

is the highest in europe, if not the world. banks, bbc. -- thanks.s done. i am in no man. i think no, it's not for me. you are the yin and yang of newspapers. i am you are the yin and yang of newspapers. iam rodley you are the yin and yang of newspapers. i am rodley a bit more ofa newspapers. i am rodley a bit more of a yes—man. this story in golf news is really making a point that the start of your career, being a yes person is a good idea. —— gulf news. there is a point made here that actually, as your career develops, you need to learn to say no. frankly, otherwise youjust don't get a whole bunch of stuff done. yeah, a bit of yes is important that learning when and how to say no in your career is just as important. communications. there is a valid point there. the older i get, i'm getting betterat a valid point there. the older i get, i'm getting better at saying fio. get, i'm getting better at saying no. the more risk aversion. that's true. yamatji see the problems rather than the opportunity. —— you see the problems. he'sjust an old grumps. they

banks loosened policy. a lot of a lot of money went out into the economy around the world. they've just built up and that creates asset inflation. that makes it harder and harder, particularly if you don't own it. even though interest rates are very low, they have to go back. the central bank is going to listen to anyone else. as interest rate goes up the government runs out of money, is a popular movement here. we better regulate more. and that becomes a constraint. the challenge now is that interest rates are going to have to go up around the world. vicious unsustainable to have so much free cash out their are effectively free cash provided by banks because then you get this ridiculous level of asset inflation and the rich get richer, poor get poorer. so it's going to have to be managed really, really carefully because governments run out of money and monetary policy. they can't regulate. so what would i be doing? i'd be looking for how you improve product to believe. how do you improve their speed and dynamics of an economy? investing in infrastructure is one of those thi

as part of this role as a regular delegate to the imf, world bank, and various other meetings, prior o his service in government ambassador hockey worked as a banking and finance, please join me in welcoming ambassador joe hockey. >> thank you very much. to all the chicago council, thank you for involving me along today, a few words and also to answer a few questions. the appearance here, it is a great city with a long-standing relationship with australia and australia, wherever i have gone in the last 24 hours i have been running into australians you are quite right, they are not familiar with this type of weather but hopefully we can have a good influence and we are having a good influence in some of the extreme weather chicago is famous for. of course it was mark twain who said it is hopeful for the occasional visitor to keep up with chicago and given this is only the second time in 20 years i have been here, quite an occasion. prophecies faster than he can make them. mark twain was quite impressive describing the city that works, the city of big shoulders, as something that is mov

the world bank puts gdp growth of 1.7%, a figure expected to double this year. the country has foreign currency of 23 billion euro. morocco is among the wealthiest nations on the continent. and it is now rejoining the african union. a body that needs -- it will become less dependent on financial backers. >> if you are squeamish, this next restaurant might not be for you. in many countries, bugs in the kitchen can get your restaurant shut down. some prefer insects on a plate. something catching on in germany. they want to put a fly in your soup quite literally. >> take mealworms and roast them like pine nuts. chocolate is an ideal accompaniment to many insects. first of all, chocolate makes a very nice sauce. and it tastes good, so it's a good thing. especially for beginners. he recommends the chocolate covered grasshoppers as a topping for fruit. he has been cooking with and selling insects for the past four years. so far, insects have not been approved as a food for industrial processing in germany. but the eu looks set to change that as early as 2018. chefs wh

either banks have competitive advantage because the world knows we carefully regulate banks, or are banks have a competitive disadvantage because of those requirements. chair yellen, which one is it? how have our banks done in comparison to their foreign competitors since we put our new rules in place? allr yellen: i do not have the numbers at my fingertips, but i believe our banks are more profitable. as a mentioned, they have higher market values relative to their markedlues, and they are and european banks capitalize banks that are regarded as safe, sound and confirming a competitive advantage on those in competing for business. sen. warren: taking away clients from other banks. in fact, our banks have thrived since we passed dodd-frank. those big banks and community banks are making the daily record profits. mr. chairman, i would like to submit the most recent quarterly report from the fdic to show that banks of all sizes are more profitable than ever, as well as this "wall street journal" article from november entitled " u.s. banks report record profits in the third quarter." may i d

last year, this neighbor told us a retired world bank economist, was a good man who helped him raise $200,000 for a trip. >> somebody know something. tim: fairfax county investigators are not certain if the pickup truck is tied to the crime, but nearly a year has passed, so they want to see if that detail will jog anybody's memory. if you have any information that could help the fairfax county police department, call them or crime alison: such a mystery, tim, thank you. parent credit, a it with stopping a possible school shooting attack in california. two students were arrested in los angeles area after a parent heard them discussing a plan to shoot up their school. it is the second foiled plot in a week. withhan: keeping up president trump's actions for his first 100 days come in today more tough talk when it comes to international policy. the president now says nothing is off the table when it comes to iran. that country was put on notice for a ballistic missile test this week. new sanctions could be announced as early guest tomorrow. attendingtrump, while the national prayer break

now the world bank forecast says the worst is finally over. due to strong chinese demand and tightening supply. they predict the price of metals will jump by 11% this year, a boost for many countries. story whole africa rising really arose out of the last boom in africa. if there's another commodities boom, that will be potentially quite transformational for african economies. >> some warn against over optimism. >> companies have gone bust, a lot of had to merge or retrench. evil are very wary. >> the industry makes up 7% of south africa's economy, so the us and downs of mining have a direct impact on south africa's growth. but the new draft of the country's mining charter slated howe published next month, the government, businesses, at minor see the future of the industry will once again be up for debate. >> six gulf countries are preparing to introduce a new value added taxes early as next year. they hope to begin imposing of 5% levy on some goods by next january. the start date could be delayed by about a year if they need more time. many o

and going inside one of the world's biggest brain banks. research is underway to find out why things go wrong in the mind, but a shortage of specimens is holding it back. jane: welcome to our viewers on public television in america and around the globe. iraqi security forces are set to begin a major new offensive against the so-called islamic state in mosul. iraq's second-largest city was seized by the jihadist group over two years ago when they took control of northern and western iraq. last month after a 12-week offensive, government forces recaptured the eastern half of mosul, claiming to have a fully liberated it. but around three quarters of one million civilians remain inside the west of the city, where i.s. is still in control. from mosul's southern front, our middle east correspondent quentin sommerville reports. quentin: in towns and villages along the tigris and across the desert, they are ready for the attack on west mosul. the so-called islamic state lies just over this ridge. as coalition warplanes circled overhead, a scouting

that is when someone murdered retired world bank economist daleed. the police never pubicly named a suspect or motive. jonathan: we are getting new information now on how the zoo captured ollie the escaped bobcat. the zoo officials say some workers saw ollie prowling near the bird birdhouse flamingo exhibit. he is a cat. those are birds. it makes sense now. they put up fios is not cable. we're wired differently. welcome to 8 and a half maple street. it's half a house. and even though it only has half a kitchen, half the closet space and a half bath, it's a full house to the wilsons. because they have fios, their half house has full internet, with uploads as fast as downloads. don't pay for uploads that aren't up to speed.á' get 150 meg internet with equal uploads and downloads, tv and phone for only $79.99 per month online for one year. only from fios. michelle: the entire helicopter fleet was grounded yesterday after a mechanic spotted a problem on one chopper. the c

as a new vision for a continental trade agreement, as well as a new vision for united nations, world bankernational monetary fund, and else. and i think that we have to keep active, very constructive institutions, and making sure that we build all together a better world. damian: has nafta worked for all latin american countries? vicente: now for mexico, it's the ones directly involved, mexico, canada, and the united states, and it has worked extremely well. today, mexico has the seventh largest trading balance in the world. today, mexico has close to triple its per capita income in the last 10 years. today, mexico has reduced by 35% the number of families in poverty and in extreme poverty. it's a very important reduction, and it's not what governments have done or nafta has done. it's because these people, these families have had, for the first time, the opportunity to overcome the poverty by their own effort, by having the tools to be able to do that. so, mexico is on the move. goldman sachs's projection for 2040, they show that the number one economy in the world will be china by 2040.

comer.a bank was a big where do you see world finance? the investment bank was established by china and the united states and japan have not joined. 30 or 40 countries have. regionia is in the asian and there is a shortfall in infrastructure funding in the next 10 years. we want to be part of this. we are next quarter of coal, energy. if we can build a railway line to market, fantastic. if we can build a pipeline that goes through the middle of india and gives energy to hundreds of , fantastic.people in china, we have seen the greatest of eva she and of poverty over the last 30 years. more than 300 million people and we,e out of poverty as humanitarians, should be celebrating this. , there are businesses being set up and they mrs..vanced as they are not restaurants are coffee shops. not that they are not, don't get me wrong, but they are now empowered, as is india. they skipped an entire generation on communication. they have gone straight to mobile and they are now going to cashless society. there is a great movement and it will continue.

neo-think some form of isolationism, meaning we are going to stay in nato and play a role in the world bank and play out our responsibility to the world, but the highest form of influence we can have is not military, but the soft power and the strength of our own political institutions and our own economy. >> you can watch the rest of --tice -- just a ballast comments on our website. monuments toe many lieutenant general robert e. lee. >> he is best known in the civil war community as the author of a fabulous book called "a black confederates and afro yankees in civil war virginia." the book came out 22 years ago and is still the best scholarly work on the subject. professor jordan has served on many boards, including the board of the museum of the confederacy. currently, he is on the state historical records advisory board ofmestown trustees, the jamestown yorktown foundation 2019 commemoration steering committee. 2019 is when the first slaves arrived in north america. the gettysburg foundation board recognizeds, he is a civil war scholar. professor jordan is often called to consult, speak

sentence level claims about statistics and it will link them to sources that, for example, the world banke claims immediately. fact checking, spoilsports. our extension could basically look at a piece of content and say this is likely to be misleading because, overall, this piece of news contains ten, 15, 20 misleading claims. the only problem with this solution is it may not be able to tell the difference between fake news and when someone is just trying to be funny, which is a problem i face myself quite often. touching on the role of algorithms in fake news for that you can see more of his short films on our website. back here in washington, in the rapid and seemingly uncontrollable spread of fake news, modern technology as part of the problem. could it also turn out to be part of the solution? i'm joined again by our guests. doctor geoffrey from the museum, professor andrew lee of wikipedia and the technology writer from san francisco. let's talk about... if i could talk about algorithms. are we right to blame algorithms for the problem of fake news? you know, algorithms only do what

as part of this role he served as a regular delegate to the imf, the world bank and the asian developmentbank and various apec meetings. prior to his service in government, ambassador hockey worked as a banking finance lawyer for a major australian law firm. ladies and gentlemen, least join me in welcoming ambassador joe hockey. [applause] thank you very much, david, and to all of the chicago house on global affairs, thank you so much for involving me alone today to say a few words and also to answer a few of your questions. the appearance here is, it is a great city and has a long-standing relationship with australia and australians. in fact, where ever i got just the last 2 24 hours i've been running into australians who you quite right, david, do not fill it with this type of weather but hopefully we can have a good influence. and we are having a good influence in tempering some of the extreme weather that chicago is little bit famous for. of course it was mark twain is it it's hopeless for the occasional visitor to try to keep up with chicago. and given that this is only the second ti

we built the imf the world bank not just the economy that's sustainable. >> you talk about what's sustainable from the global view and look at the president's immigration policies. you said directly to president trump your executive order doesn't make me feel like i'm living in a great country, i urge you to reverse yourself as quickly and as humbly as possible. >> if you look at how the united states has developed itself, you say when was the period of the greatest growth and prosperity, it's prior to 1924, that was the first time repassed racist legislation, then the italians, then the greeks then the asians, specifically identified in that legislation. it wasn't reversed for another 50 years. i don't object to defending our borders, quite the contrary, we have a right to say who can and can't come. >> but you think the original ban is religious disskrim natcr, it wasn't just that, none of the countries were a doinger anger . when the president says to audiences that all these people are rushing through there's no effort to detain them. that isn't true. that's a lie or it's inaccurate or ho

she said -- very early in her career, she worked for the world bank and she was very upset by that. e saying just having that suite of family values from around the world. >> you've seen that. >> i wrote a piece on cnnmoney.com about values. not shareholder values but other values. you keep hearing them talk about values, ohm. different kraefs in so many different companies. it's the first time i've heard them talk so little about making money and so much about making the world better. >>> democrats go to new lengths to vote for two of the accountant nominees. we're going to tell you the new measures that they're taking. >>> two of president trump's key cabinet picks are being blocked by democratic boycott. that has republicans in 'an uproar. they're now on hold after democrats refused to show up for their hearings. committee chairman orrin hatch called that pathetic and amazingly stupid. calling the democrats involved as idiots. >> don't mince words there. >> the rules require at least one democrat to be present. that means that the president may have to restewart a recess appointme

neo-think some form of isolationism, meaning we are going to stay in nato and play a role in the world bank and play out our responsibility to the world, but the highest form of influence we can have is not military, but the soft power and the strength of our own political institutions and our own economy. >> you can watch the rest of --tice -- just a ballast comments on our website. monuments toe many lieutenant general robert e. lee. >> he is best known in the civil war community as the author of a fabulous book called "a black confederates and afro yankees in civil war virginia." the book came out 22 years ago and is still the best scholarly work on the subject. professor jordan has served on many boards, including the board of the museum of the confederacy. currently, he is on the state historical records advisory board ofmestown trustees, the jamestown yorktown foundation 2019 commemoration steering committee. 2019 is when the first slaves arrived in north america.

world bank of scotland set to unveil an 800 million euro cost plan. ports saying that the bank will make the announcement later this month. investors certainly like that idea. and barron's also saying that abbott may see a boost from st. jude medical. the company has a, quote, good shot at continuing its double digit earnings growth adding that a 20% return is still a possibility. >>> all right. coming up, this morning's top news in technology. why verizon is bringing back an unlimited data plan for the first time in five years. stay tuned. so we have extra sets of eyes on our wells every day. because safety is never being satisfied. and always working to be better. what powers the digital world? nevecommunication.ied. like centurylink's broadband network that gives 35,000 fans a cutting edge game experience. or the network that keeps a leading hotel chain's guests connected at work, and at play. or the it platform that powers millions of ecards every day for one of the largest greeting card companies. businesses count on communication, and communicati

the european commission is in talks with the italian government to rescue the world's oldest bank.hey failed to raise 5 billion euros. assurancemore taxpayer money will not go to waste. new york stock exchange is preparing for one of the biggest stocks locations of the year. snapchat issued its ipo in march for $20 billion. the nasdaq is leaving nothing to chance. the stock exchange is set to host a trial run for snapchat's debut this weekend. they encourage a sample orders to make sure technology is up to the job. they were harshly criticized in 2012 for botching facebook's ipo. they were not prepared for the level of demand and facebook shares. there were glitches as the social network began trading. to be the biggest one to hit wall street since then. they want to do their part smoothly and be prepared for any circumstance. not a bad motto. laura: we have a short break, stay with us. ♪ vp democracynow.org 02/23/17 02/23/17 [captioning made possible by democracy now!] amy: from pacifica, this is democracy now! >> worried all the time about being bullied by kids commit even being

there are about 8000 swift enabled banks of 23,000 banks around the world.ve a long way to go. we clearly think we are solving a problem on cross-border payment. it is amazing how much time it takes to send a payment with your own money. >> don't i know it? it is painful. brad: i made the joke, it is easier to send $10,000 by taking it with you on a plane than sending it through the banking system. coming up we will see the banking sector compete with amazon and google. they have to compete with technology like blockchain solutions. >> i want to understand how these competitors work. is swift still a key competitor? startups in germany. how does it work for you? we think they are solving a problem that the banks should be solving. when we look at the payment stack, a lot of things are happening at the top level of the application layer, infrastructure is saying -- is all the same. apple pay is just a different way to swipe your card. everything behind the phone is an already existing infrastructure. we have to reset the infrastructure. that is what we are fo

long to fix, and the fact that it has shows that no—one really knew just how big a mess the world's biggest bankd got itself into. in 2008, the government of the day announced an emergency £45 billion bailout to prevent a complete collapse. could things have been done differently? with the benefit of hindsight, it should have been fully nationalised and broken up and used in the national interest. but the taxpayer is now stuck with the losses and it could be some years before it can be returned in a way that taxpayers get their money back. the bank is much healthier today but with more losses yet to come, now on bbc news: the travel show. this week, camping in churches. i'm going to try to go to sleep now and try and forget that i'm entirely surrounded by graves. a spanish celebration of pork. and getting to grips with sudan. wrestling a guy in front of 2,000 people is a bit further than what i usually go. this week, i'm in kent, in england's south—east corner. this is the city of canterbury, a place of pilgrimage ever since the 12th century. apparently, if you look up at the stained glass windo

we are going to stay in nato, play a role in the world bank, we are going to have responsibilities to the world but that the highest form of influence we can have is not military but the soft power. >> soft power. >> and the strength of our own political institutions and our own economy. and that's what washington believed. >> do you have -- of all your books, could you say one of them is your favorite? was one of them particularly easy to write? and was one of them particularly difficult to write? >> it's like your children, you know. [ laughter ] it's the last one. so my favorite is now my youngest child, is american quartet, which gail was so nice to cite. somebody in hollywood has just bought the film rights to the american quartet but it will never happen. it happens like 1% of the time. we'll see. there is a book i wrote -- i mentioned this in the green room to you, that i weapon back and i was reading over the summer for what i'm working on the current then and now project, a book i wrote american creation. i wrote that in 2004. i said hey this is really good. i forgot i said t

it is too soon to tell what this newest scheme in the world bank of scotland -- i would be reluctant comment. our model is about gaining market share, and we are attracting market share from all of the banks. manus: you are gaining market share as you say. when you look at u.k. post-brexit, the consumer looks as if it might just have faltered a little bit. are you seeing at the front and in terms of lending to real customers? you, me, mom and dad, grandpa and grandma? vernon: britain is a dynamic gross market, and london is one of the great gross, world gross markets. we are seeing no declining growth either on the business or consumer side and we are extremely optimistic about the market. about theimism market, i want to circle back. i know you are bit reluctant to make any comment about what might happen with williams and glenn, but as a man who is building a business, you have gone from zero to hero quite quickly. when you read the news, what would they need to offer me to get me to the table to talk about taking their customers. must've been something that went through your head i

that on the flip side, we also have the most highly regulated, overburdened banks in the world. ul lot contradiction to me. either our banks have a competitive advantage because the world knows we carefully regulate our banks, or our banks have a competitive disadvantage because of those requirements. yellen, which one is it? how have our banks done in comparison to their foreign competitors since we put our new rules in place? ms. yellen: so, i don't have all the numbers at my fingertips but i believe our banks are more profitable -- as i mentioned, they have higher market values relative to their book values and they are capturing market share from european banks. banksl capitalize ,egarded as sound and strong entering a competitive it a ditch on those banks in competing for business. >> a competitive advantage, taking clients from other banks. in fact, our banks have thrived since we passed. frank. dodd frank. literally record profits. i would like to submit for the record a recent quarterly report to show that banks of all sizes are more profitable than ever, as well as this

francisco bay-based company uses but change is that all financial transactions between the world's biggest banksline hyde is there some a standing with a guy named brad gerlinghouse. caroline: here is a man you know well. brad, we are hearing about potentially the fact that all of this, when you're looking at block chain, is potentially in height mode. when does it become part of everyday lexicon. >> it is not as early a solution for everything, but there are examples where it is a perfect solution for payments where you have two people trying to settle a transaction without the risk of a central counterparty. ripple has been fortunate. we have 10 production accounts and we announce the third largest bank in india last month as well as the largest bank in the middle east going into production. caroline: what about international expansion? what about being adopted en masse? will you not be able to get into all? brad: we work with 90 banks worldwide and we have announced 10 of those production contracts and there is 8000 swift and able banks around the world. we are clearly solving a real problem

as they age in slave youth and young adults learn and understood their place in the world. banks' pa maturation solidified his forward offering enslavement. especially during three pivotal events of youth and early adulthood. first wag the sale of his two sisters, the second the nearly fatal beating of his mother, and the third this slow death of his enslaver. of the latter, banks remarked, i saw in life and in death but he left me in chains. enslaved adults no very well that the death of their enslavers meant the breaking up of their families, thus when banks was put on the auction block in 1857 he had a message for his potential buyers. he spotted the traders and tried to liberate himself and run away. i gave them evidence they had a man to deal with, he says. and i determined now to let them see that they would have to treat me -- how they would have to treat me as a prisoner. during interviews with potential buyers, banks remain defiant by not revealing any information about hit health or his skills because he knew that it would affect the monetary value of him. desspilt the

but on the flip side, we also have the most highly regulated, overburdened banks in the world. that sounds an awful lot like a couldn't rah diction to me. either our banks have a competitive advantage because the world knows that we carefully regulate our banks or our banks have a competitive disadvantage because of those requirements." so chair yellen, which one is it? how have our banks done in comparison to their foreign competitors since we put our new rules in place? >> so i don't have all the numbers at my fingertips with you i believe our banks are more profitable. as i mentioned, they have higher market values relative to their booked values, and they are capturing market share, for example, from european banks. so i guess i see well-capitalized banks that i regarded as safe, sound, and strong as conferring a competitive advantage on those banks and competing for business. >> a competitive advantage, taking away clients from other banks. in fact, our banks have thrived since we passed dodd-frank. both big banks and community banks are making literally record profits. mr.

take a listen to something that was interesting that he said today, because many banks around the world are feeling this. >> we are coming to the last line, -- the warhol which is a good thing. vonnie: 15 seconds of fame coming to an end for the central banks. some in the administration's have changed when it comes to trade. what do you foresee as taken the place of central banks? >> in the u.s. we have fiscal policy taking the place of central banks and i think that is important. in china, fiscal policy. i would love to see that in europe as well, but i do not think we will get that. we are much more likely to see fiscal activism in japan where one of the architects of -- is basically saying the central game is over and we need to have more active fiscal policy. vonnie: 70 was expressing a wish? >> it is an acknowledgment of the reality, i think. we are moving into a different phase of the cycle into central banks have done a great deal, but we are not as reliance on them anymore and we do not think they are incredible. mark: looking at probability, there is a 30% chance of a rate hike

when he says we have the most highly capitalized banks in the world, the reason those banks are capitalized, the reason they have all that money in reserves is because of regulation. before the financial crisis it was a lack of regulation, it was the fact that banks continued to lend at will and they were borrowing, they were trading exotic securities, they were selling securities to investors who shouldn't necessarily be in those asset classes, so the regulation was put in place to protect people. now, many two argue that dodd-frank overreached and the regulation had been onerous, so this is the chance for actual bipartisanship. over the last eight years people were so burned by the financial crisis, anything that looked or smelled or sounded like a bank they wanted to hold it at arm's length, so maybe if it's simply not dodd-frank repeal, maybe it's reform, it could be a positive. but to say our banks are suffering and they're shackled, give me a break. >> and to say that all regulations are bad because it was exactly as you point out, the regulations reclassify the fwoonkz protect consum

on the flip side, we also have the most highly regulated over burdened banks in the world. that sounds a lot like a contradiction to me. our banks either have a competitive advantage because the world knows we carefully regulate our banks, or they have a competitive disadvantage because of those requirements. so, chair yellen, which one is it? how have our banks done in comparison to their foreign competitors since we put our new rules in place. >> i don't have all of the numbers at my fingertips, but i think our banks are more period of time are profitable. they are capturing market share from european banks, so i see the capitalizing of banks as conferring a competitive advantage on those banks and competing for business. taking away clients from other banks and our banks have thrived since we started dodd frank, and they're making literally record profits. i would like to submit the quarterly report from the fdic to show banks of all sizes are more profitable than ever as well as this wall street journal report saying u.s. banks report record profit in the third quarter,

long to fix, and the fact that it has shows that no—one really knew just how big a mess the world's biggest banknounced an emergency £115 billion bailout to prevent a complete collapse. could things have been done differently? with the benefit of hindsight, it should have been fully nationalised and broken up and used in the national interest. but the taxpayer is now stuck with the losses and it could be some years before it can be returned in a way that taxpayers get their money back. the bank is much healthier today but with more losses yet to come, it seems certain we will be marking a full decade in the red this time next year. simonjack, news. claudio ranieri has spoken about his abrupt sacking by leicester, saying "yesterday my dream died". ranieri led leicester to the premier league title just nine months ago. but he was dismissed on thursday after a string of poor results, that has left the side just one point above the relegation zone. 0ur sports editor dan roan reports from leicester. at least there is still some loyalty here in leicester. claudio ranieri remained in demand this aftern

the world's central banks using dovish messages to deliberately weaken their currencies. e ceo of pimco says the world new olding in a currency war. ♪ . francine: this is bloomberg surveillance. let's get to the bloomberg business flash. >> india has kept interest rates unchanged for a second straight meeting, the benchmark repurchase rate was left of a six-year low. as the prospect of more ties to the u.s. federal reserve limits. at the same time, they change their policy stance to neutral from -- trump calledonald a san francisco appeals court ban the president's travel was well within his rights by congress and the constitution, as the justice department seeking to reverse a lower court ruling that put the executive order on hold, the court said a decision will probably be made this week. australia's trade, tourism, and investment minister he still wants a version of the transpacific partnership, despite the u.s. dropping it. up for plants will be discussion at a meeting next month in cjoi -- chile. achievedought gains through intense negotiations over many years in res

there is lots of skepticism in the world about our central bank. i think there is some skepticism on a misperception and to based on a very real understanding that the world the fed lives in is not defined by reality. the misperception is rooted in the idea, popularized by economists, politicians and pundits that money and credit are one and the same. in fact, money and credit couldn't be more different. if they were the same, haiti and honduras would have every bit much credit flowing through their economy as we do in the united states. i would add that would mean counterfeiting would not only be legal but it would be broadly encouraged. in fact, credit is real economic resources. to paraphrase, when you borrowed dollars, you are not borrowing dollars, you are borrowing access to computers, trucks, tractors, desks, buildings, desks, buildings and most of all labor. we are the credit of the economy. we are the producers of the resources that when people seek to borrowed dollars, they are trying to attain. the fed has has no private stash of resource

he says also we have the most highly regulated overburdened banks in the world. not quite true. ropean banks would arc they're in a similar position. the way this is framed, we are america, we want american banks to have the best position on the global stage. that's how they will have to frame this to not anger certain voters, as opposed to we're going back to the good old days, this is a goldman sachs banker discussing things with jamie dimon. this will help american banks on the global stage. you mentioned the fiduciary role being rolled back. that's not a revelation, a confirmation. consensus had got that wouldn't be implemented, because it's not in place. some comments about richard cadre who heads up the cfpb, suggesting his time, his days there may be numbered. this comes before the treasury secretary has been confirmed. what does this say about the status gary cohn will hold in the white house coming through? i'd say this is a very clear marker that he's going to hold a lot of power that this is coming out before the treasury secretary is in his role. positive for the bank

economic activity according to the world bank from 9% to 28%. en though we are the world's largest economy 80% of world's purchasing power and 95% of its consumers lie outside the united states. our farmers rely on foreign markets to remain financially strong. in fact, one-third of all american farmland is planted for exports. american manufacturers depend on foreign markets with about 25% of all manufacturing jobs in this country being supported by exports. overall trade supports over 40 million u.s. jobs or more than one in five in our nation. tens of thousands of those jobs are at fedex. trade-related jobs pay an average of about 18% more than non-trade-related jobs and in general trade has added more than $13,000 a year in purchasing power for the average american household. a second fact about trade, market access and e-commerce are changing the nature of trade. thanks to the internet and global logistics services offered by fedex and others, e-commerce is booming. worldwide retail e-commerce sales are approaching $2 trillion and are project

world. central banks keep policy in a holding pattern. no news indications of good news? >> the fed did not push back against the markets view regarding interest rates. >> how many ways can you stay neutral without staying neutral. business leaders react to orders from the white house. >> we are beginning to see cracks in this very brief embrace between big business and the trump administration. >> this man is doing exactly what he said. alix: ge ceo illuminates the global trade debate. >> people are going to see globalization from 30,000 feet and don't know what globalization is. alix: the drumbeats stayed loud and strong with a slew of quarterly reports. >> our toolboxes rich. >> the revenue is the story and this is driven by new product introductions. alix: it is all straight ahead on bloomberg best. alix: welcome. i am alix steel. this is bloomberg best. your with the review of the most important business news, interviews around the world. this was a critical week for global monetary policy. the decision coming from the fats and the bank of england. u.s. immigration p

long to fix, and the fact that it has shows that no one really knew just how big a mess the world's biggest bank£45 billion bailout to prevent a complete collapse. could things have been done differently? with the benefit of hindsight, it should have been fully nationalised and broken up and used in the national interest. but the taxpayer is now stuck with the losses and it could be some years before it can be returned in a way that taxpayers get their money back. the bank is much healthier today but with more losses yet to come, it seems certain we will be marking a full decade in the red this time next year. the 89th academy awards. la la land, a tribute to hollywood itself, is widely expected to do well, as is the coming—of—age film moonlight. the ceremony is no stranger to controversy, and this year is set to be more political than usual. will gompertz is in los angeles and joins us from the red carpet. lam i am watching the preparations being made for the oscars ceremony, which i think is going to be fascinating, not so much for the movies, which are great. we know all about them. but what

world. central banks keep policy in a holding pattern. no news indications of good news?t push back against the markets view regarding interest rates. >> how many ways can you stay neutral without saying neutral? business leaders react to orders from the white house. >> we are beginning to see cracks in this very brief embrace between big business and the trump administration. >> i don't know why anybody expects anythingif

long to fix and the fact that it has shows that no one really knewjust how big a mess the world's biggest banky £45 billion bailout to prevent a complete collapse. could things have been done differently? with the benefit of hindsight, it should have been fully nationalised, then broken up and used in the national interest. years before it can be returned in a way that taxpayers get their money back. the bank is much healthier today but with more losses yet to come, it seems certain we will be marking a full decade in the red this time next year. this sunday, the film industry's great and good will celebrate the 89th academy awards. la la land — a tribute to hollywood itself — is widely expected to sweep the board. the ceremony is no stranger to controversy, and this year is set to be more political than usual. our arts editor will gompertz is in los angeles and joins us from the red carpet. it is all being put together at the moment for sunday's oscar show which i think moment for sunday's oscar show which ithink might moment for sunday's oscar show which i think might be one of the most inte

world. central banks keep policy in a holding pattern. no news indications of good news?d did not push back against the markets view regarding interest rates. >> how many ways can you stay neutral without staying neutral. business leaders react to orders from the white house. >> we are beginning to see cracks in this very brief embrace between big business and the trump administration. >>

biggesthe world's business bank.t will have a reflection of what is happening in the business community. haidi: what are we expecting from the other big lenders for the rest of february? expecting we are maybe a little improvement, but not the big guns we have seen in recent years he the one that everybody is obviously watching is cba. they come in a couple weeks time. thing people will want the housingon market. as you know, a strange love their property. there has been a lot to report on is the housing market is anymore sustainable. i think we will want to see comments from the ceos how they are managing risk and exposures. nabi: of course, the setting up for policy decisions tomorrow. thank you very much. betty: much more ahead. to asia's best performing currencies could offer -- suffer collateral damage. we will show you which ones to watch out for. this is number. -- bloomberg. ♪ haidi: this is daybreak australia. i am in sydney. betty: and i am betty liu in new york. if you are long gone any of these currencies

ten yea rs ten years ago, we were the largest bank in the world. here. there will be job losses. we a re are now here. there will be job losses. we are reshaping the business back to the uk to serve customers here and we are doing a pretty good job. that is what they are telling us to be the survey is now. but also, there was big changes going on in banking its full —— itself. people are using digital channels much more than i anticipated even three years ago when i took over. 35% of sales now through personal banking are being done on mobile phones and on the laptop. that is a big change of how customers want to interact with a bang. -- bank. all this week, the bbc is running a series called disability works. it's a week of coverage looking at how businesses work with people with disabilities. also, how disabled people have made business work for them. wales business correspondent brian meechan joins us now from a business based out of cardiff metropolitan university which researches and designs prosthetics. this is pdr and it shows how universitie

banks. stamping things as aaa even though they were garbage should never have been stamping them. they worldoing what was legal. it all blew up. leah blew up, the collateral damage has been devastating. >> people did not want to pay attention, the big mortgage banks came about when the them astgages and sold a package. they were sold to professionals, to the trustees and mutual fund owners. these are sophisticated people who should not have these jobs. they knewat this and what was in these packages, they look at them and said that rating is aaa. if everythingaaa did not go wrong at the same time. they bought these things when they have higher yield, they had to stop and think if there is higher yield it is less risky. no one wants to blame themselves for taking a risk. a charles prince quote who says when the music is playing you have to cut -- get up and dance. make an have to unbelievable quarterly profit of the shareholders are celebrating. is saying the guy who we're not going to do that, that becomes professionally risky. we got into this short-term loop. jpmorgan did not get anywhere

world. central banks keep policy in a holding pattern. no news is an indication of good news?not push back against the markets view regarding interest rates. >> how many ways can you say neutral without saying neutral? there are worries over immigration. business leaders react to orders from the white house. >> we are beginning to see cracks in this very brief embrace between big business and the trump administration. >> i don't know why anybody expects anything different. this man is doing exactly what he said. alix: ge's ceo illuminates the

one remains the framework it should be manageable. >> dodd-frank putting european banks at a disadvantage? >> the worlds bigger than just europe and the u.s., 20 states that have come up with an environment which makes it comparable for banks to operate. >> you do not see an impact? >> it is too early. these processes take time, things will evolve and that is one of them. >> what they coming soon is the triggering supposedly of article 50, are you planning to move soon some london to paris? >> we do not have to move the headquarters, we have to stay close to our clients and serve our clients, and that is what we will see once we know more details. >> kendrick farris take a big piece of the equities that can paris take a big piece of the equities? who i would need to move those people out of london, as i said, we are a european bank first, we cap activities in paris, belgium, the netherlands, that is how we do business. >> change the balance after brexit? >> we will have to see how things evolve. mark: the paribas cfo with us. , shares ofll ahead general motors are lower today, even after they posted re