let's get to zurich.ia, the first major name to be i supposed taken out of this is the coo, he is gone. there is an important line in regards to the ceo. give us the details. >> we are now dealing with the fallout from the scandal, which credit suisse accepts it has been a public relations disaster. the investigation into the former employee. the bank is saying that this was something led by the coo. he offered to resigned. the bank has accepted that resignation. when it comes to the ceo, tidjane thiam, of course, that was the focus. that was something investors were keeping a very close eye on . investigationthis does not suggest he knew or approved of this happening. this former employee, iqbal khan , was placed under surveillance. there has been severe reputational damage made for the bank and they will hold a call at 8:00 a.m. cte today to explain more details. manus: maria, of course, this puts in and even shines a bigger spotlight on, i suppose, the ethics within banking. from my history in my 20 ye

he said he was chased down the streets of zurich. he felt personally threatened by this investigation. he is set to join ubs today. matt: is interesting. long beforetogether they came to credit suisse, but thiam apparently knew nothing about this. we are hearing from the chairman of credit suisse that there is no cultural problem at the bank. they are not concerned this is part of the way those men operated. >> that is right. two points. one is they did work together for many years, they both came from the insurance business. the obvious question, how can you not know this is happening just below you? happening with people you should be responsible for? i'm sure the chairman will get that question. it is interesting to hear those comments from the chairman, who issued a very public apology saying this is bad for credit suisse. he also said this is not something that is done usually at the bank, that this should not happen, and they will ensure this does not happen. credit suisse will have to do a lot of soul-searching. the point of t

manus: i am manus cranny in zurich. am here for the -- breaking lines coming across the bloomberg on aramco. is thee saying there acquisition closing in the first or second quarter of next year. they will add one million barrels of refining capacity. it is all about recovery from those attacks. boost theirng to refining capacity to 6.8 million barrels per year on a malaysian joint venture and they see further refining expansion in india and in china. these are all the various lines coming through from the person appointed as the senior vice president for downstream. is over at aramco. this is all about the expansion plans in terms of production. let's get you a market check. juliette saly. morning. juliette: a little bit mixed to kickstart the engine trading week with very low volumes, but you do have an upside coming through in the nikkei which is supporting the overall msci asia pacific index, which is tracking slightly higher and that is despite dismal data come through out of japan, showing exports fell for a 10th m

in zurich.usly this is a tragic story. there was a suicide. the contractor that order the spying. it is very sad and very strange. there are some loose ends here. maria: there is many and credit suisse is almost scrambling to contain the scandal. the chairman said the surveillance operation was wrong and disproportionate. this is something the bank should simply not do going forward. he presented this as a rogue operation led by the global head of security. both men have now resigned. the chairman set their investigation found no indication the ceo new or approved any of this. the obvious question is how can you be a ceeo and not aware this is have -- be a ceo and not aware this is happening, how can you be oblivious? credit suisse also went on an apology tour and apologized to the former employee, who is joining ubs today. they said as far as credit suisse is concerned, the investigation is done. it is interesting that this europe prosecutor has said -- the zurich prosecutor as that the investi

i'm joumanna bercetche and these are your headlines >> damage control here in zurich as credit suisse internal investigation finds the cooculpable in a spiying situation. >> we have discussed to this point with them the investigators and asked him about this we have absolutely zero evidence that he was informed about it. >>> loud protests get underway in hong kong amid tight security as china celebrates the 70th anniversary of the founding of the republic of china. >>> boris johnson says they are prepared to present a plan for the eu >>> a rise in operating profits to more than $5 billion euro by 2022 saying exclusively that the firm can handle the deadlines >> we have contribution of airfreight slowing down. we are not independent from the markets but we have enough self-help to continue to improve our models >>> good morning and welcome to "street signs. we have a busy show ahead. i want to bring you some eurozone data. these are the final manufacturing numbers for the month of september the pmi has come in 45.7 this is .1 higher than the flash estimate this is the lowest level sinc

hence this fish welfare project in zurich. the post mortem starts with children taking a blood sample in order to determine the concentration of cortisol. it's a hormone released in response to stress. then she removes the brain the gastrointestinal tract and the liver. skates for our month because this experiment is about duckweed as food and we also removed the liver and guts if duckweed were not good for the fish we would expect to find signs of malnutrition malnutrition is a common stress factor especially in fish farms we want to see what a brain looks like in a fish that's been given the wrong kind of food for a long time or alternatively if duckweed is a great idea what a well fed brain. like. the researchers also want to determine whether a diet of duckweed has changed the quality of the carbs flash which is after all what we humans like to eat. but. many people feel it's extremely important that we make sure our food supplies are sustainable and also that we ensure the wellbeing of farm animals we conduct basic and ap

festival circuits and all man scott rocks for a quarter with it's a rain in director marjon satrapi zurich film festival in switzerland he'll be here in the studio in a minutes but 1st his reports about the. science is changing. murray curry is scientist rebel and feminist in a new film from mars also topic in this extraordinary look at the 2 time nobel prize winner and pioneer of the science of radioactivity change the world. such crappy remembers her own mother holding the scientist up as a role model for any mother who was preparing care do it or not to making good money and become a good wife and wanted to thing for you.

tom: ubs ceo sergio ermotti discussed the quarter with manus cranny, in zurich.o: very challenging market conditions, but glad we were able to produce a solid performance in that context. manus: in terms of the investment bank, profits down 59% and you announced restructuring. what does that look like? sergio: market conditions in the last few quarters have been very challenging. for sure, they are not market conditions favoring our stra tegic choices. we are much more skewed towards europe and asia than the u.s., dominating. is but clientns, sentiment is better than outside the u.s.. manus: a $100 million charge. what cost savings will you get, and with it mean job losses? sergio: we expect in the region of $19 million a year in savings from this charge, and most importantly, it gives us the opportunity to refocus, for e xample iun the markets business we will focus on execution, structure in our financing businesses, leveraging the technology investments we made in the last few years. fewerking, we'll focus on industries, more on the local business than the reg

festival circuits and all man scott rocks for a quarter with it's a rainy and director marjon satrapi zurich film festival in switzerland he'll be here in the studio in a minute but 1st his reports about fellow scientists changing. careers scientists rebel and feminist in a new film from mars also a topic in this extraordinary look at the 2 time nobel prize winner and pioneer of the science of radioactivity change the world. such crappy remembers her own mother holding the scientists up as a role model for any mother who was preparing care daughter not to making with matt each and become a good wife and wanted a better thing for.

festival circuits and all man scott rocks for a quarter with it's a rainy and director marjon satrapi zurich film festival in switzerland he'll be here in the studio in a minute but 1st his reports about. science is changing. careers scientists rebel and feminist and a new film from mars also topping in this extraordinary look at the 2 time nobel prize winner and pioneer of the science of radioactivity change the world. such crappy remembers her own mother holding scientists up as a role model for any mother who was preparing her daughter not to making with matt each and become a good wife and wanted a better thing for the girl to become independent and be someone then you know i company something this is the example she's one of they sampled he would give to your child for. the tropics portrait of cure a is warts and all for achievements or segments the nucular destruction her discoveries will unleash peace and leave my liberal actress rosamund pike place jury as headstrong bordering on arrogant. that it was a open castle with with him and with us is she genius is ok but as it comes to wome

festival circuit sanaa man scott rocks for a quarter with it's a rain in director marjon satrapi zurich film festival in switzerland he'll be here in the studio in a minute but 1st his reports about the film scientists changing. careers scientists rebel and feminist in a new film from mars also in this extraordinary look at the time nobel prize winner and pioneer of the science of radioactivity change the world. remembers her own mother holding a scientist up as a role model for any mother who was preparing her daughter not to make it with not each and become a good wife and wanted a better thing for. like to become independent and be someone then you know something this is the example she's one of things i'm probably would give to or challenged.

festival circuit sanaa man scott rocks for a quarter with it's a rainy and director marjane satrapi zurich film festival in switzerland he'll be here in the studio in a minute but 1st his reports about the film scientists changing. careers scientist rebel and feminist and a new film from mars also in this extraordinary look at the 2 time nobel prize winner and pioneer of the science of radioactivity. so topping remembers her own mother holding the scientists up as a role model for any mother who was preparing her daughter not to making with matt each and become a good wife and wanted a better thing for you know that i could become independent and be someone then you know something.

zurich, churches, opera house, and its lakes, none of those bring to mind spying. that is the scandal rocking switzerland second-biggest bank, credit suisse. wealth management quit his job to join ubs. to poach he would try clients or bankers, credit suisse had him followed. was allegedly responsible for --.operation, uncovered by con wase have zero evidence he informed about it. apologizing, the bank added -- the board of directors considers the mandate was wrong and disproportionate. >> an internal investigation has shown he has never attempted to poach clients. there is an ongoing criminal investigation into the case. two of the majoror investors hae said he should stay in his position unless there is proof he broke the law. stephen: sellers using amazon will have to pay higher costs on giants, including amazon. they decided to pass this onto service,hat use the which makes the commission higherer than the british, g ge, or itatalian seses. today.nomic data out inflation in the euro zone fell to 0.09 percent. that is the lowest it has ever been in almost three y

earlier, bloomberg's manus cranny sat down with sergio ermotti in zurich. >> very challenging marketonditions, but i'm glad we were able to bring performance in this difficult context. by 59 percent in the investment bank. you announced restructuring. what does that look like? >> market conditions have been very challenging. market conditions are also favoring our strategy choices. we are much more skewed toward europe than the u.s.. the u.s. is nominating in terms of calendar. manus: what cost savings will you get? is going to mean job losses? >> most importantly, i think it is opportunity to refocus our markets is inthe us. we will focus on our execution, structuring, and financing businesses. leveraging the technology investments in the last few years. industries ander more global business than regional business. also leveraging within the organization. have 5003nus: you hundred people in that division. are there going to be significant job losses? >> i do not think it will be significant in the context of the numbers you mentioned. we need to adapt the business to market conditio

for nightly business report, i'm jeffutmore in zurich, switzerland. >> coming up, politicians spending of mon on ads and marmg companies are the big winners. ♪ ♪ >> well the next presidential election maybe more than a year away but spending p onitical ads is ramping up.winning this political ad race so far. >> the fake news, right,he ke ns. >> thank to a contentious political climate and broad range of political candidates ad spend something onsp track torow dramatically. with political spenlding pr17ected to grow from 2016 to nearly $6 billion for the 2020 race. this is absolutely a record year for video advertising in politics more than double what waspent in 2016 which would have been a record. but it'sot just t presidential election. youeeec s rdor house level senate gushl gubernatorial.as >> thest growing piece of the pie is digital with spending forecast toouble from the and facebook and google responsible for about two thirds of all the digital ad spending. >> the ltates f spernding even higher is the docrats impeachment inquiry. it's prompting president trump to drumtically in

went on your block of trains in zurich she attracts attention the time isn't meant to simulate heavy sleds in snow it's the optimum training hiring stream sport that when with an oath i'm not a total sporting ace but i do have a solid basic fitness said that's what's important for expeditions 7 being able to keep up a certain performance over long periods. she didn't stop mountaineering tell us she was $25.00 within 3 years on your block and had scaled the 7 summits the highest peaks on every continent and she's the youngest german woman to climb mount everest but she also got to know the sport's dangers they said almost but i made my personally saw somebody die on everest and. and it makes you wonder what do i live for and how much risk am i willing to take from to me it's worth the risk that i might die that's a stab. in the summer of 2019 she ascended the world's 2nd highest peak k 2 without an oxygen mask. black and that why would i like to discover and experience something new and go a little further than i did the last time to see what else i can experience now on your blockers

let's go to maria tadeo in zurich.are hearing from the prosecutor that the investigation is continuing. the investigation continues and credit suisse is in full damage control. this was a pr disaster. the chairman said this was a rogue operation by the coo alongside the global head of security. both have resigned. he says there is no indication based on the operation that the ceo tidjane thiam new or approved of any of this. there are still many questions. how come the ceo is unaware and you have zero prosecutors saying an investigation may be done but we are continuing our probe. we will have more from maria tadeo indirect throughout the day. next, the people's republic of china turns 70. xi jinping calls for unity but the parade is contrasted by more street protests in hong kong. we are live in the region next. this is bloomberg. ♪ ♪ francine: the presidents men. donald trump allies are entangled in the impeachment inquiry, with barr, giuliani, and pompeo all be drawn and. tidjane thiam takes responsibility for credi

when on your block or trains in zurich she attracts attention the time isn't meant to simulate heavyslants in snow it's the optimum training for hiring stream sport is that when with an oath i'm not a total sporting ace but i do have a solid basic fitness added that's what's important for expeditions being able to keep up a certain performance over a long time she didn't start mountaineering tell him she was 25 but in 3 years on your block scale the 7 summits the highest peaks on every continent and she's the youngest german woman to climb mount everest but she also got to know the sports dangers and said almost but i believe my personally saw somebody die on everest when you. but it makes you wonder what do i live for and how much risk am i willing to take to me it's worth the risk that i might die that's a stab. in the summer of 2019 she ascended the world's 2nd highest peak k 2 without an oxygen mask. good luck and i would i like to discover and experience something new and go a little further than i did the last time to see what else i can experience now on your block is getting

i went to zurich in switzerland and was met by patrick duration and his colleague alice kohli. through the. i'll tell you 3 reasons why romania is popular the 1st is lots of people have no daily access to life saving medication. they see a study as a chance to get hold of western medication. the number one reason. number 2 is the price. wages are lower the infrastructure is no doubt cheaper. and the 3rd reason is the sponsors and firms. they're interested in getting the study conducted as fast as possible because then they gain time and time is money. so this in my view here are the evaluations of the individual studies. we can see the names of the patients the next of kin serious side effects those who should have not been included in the study these are my notes from all the files. such a large number with so many problems regarding patient consent is really incredible . and it seems very aggressive yes because these are poor people who are also mentally ill. these are all that means they may not even be in a position to give their consent. they need to have a relative presen

♪ ♪ ♪ ♪ >>> facebook ceo mark zurich rk will testify on capitol hill tomorrow.company's cryptocurrency project call libra. his testimony was released today. and in it he plans to tell akers that libra won't launch anywhere in the world until u.s. regulators approve it. zuckerberg will also say that projects like libra will help extend america's financial leadersh. >>> sales of existing homes disappointed i i september but there was some ironyn toi latest report. buyers were out and demand was strong i part because of low mortgage rates which showed list sales. but all of that demanan also resulted in higher prices which buyers don't like. >>> diana olick has more. >> demand for house something very high. at least according to the high-tech entry lock boxesn homes for sale. realtors can track traffic threw them and it's strong. >> the opening of the lock boxes,enturyog is showing improvement. there is buyer interest because of lower mortgage rates.or but the price increases and lack of inventory, that is providing some pause for the actual signing of the contract

ah, i got this in zurich! actually, what's the opposite of empathy?if your business could understand what your customers are feeling... and then do something about it. you can turn disappointment into gratitude. clive, you got to try this. i can't i'm working. turn problems into opportunities. thanks drone. change the future of your business. change the whole experience. alright who wants to go again? i do! i do! ♪ i have a really good feeling about this. ♪ ♪ maria: welcome back. the founder and ceo of facebook, mark zuckerberg, was on the hot seat during his hearing on capitol hill to discuss the company's desire to start its own cryptocurrency. zuckerberg was grilled over a variety of issues including facebook allowing political ads to run on their site without fact-checking. sales force founder marc benioff has been a long time critic of the social media's giant growing influence. >> it's addictive. it's bad for you. they want your kids. now they're posting political ads with incorrect information, they're passing your information to 50,000 other c

we go now to zurich come over credit suisse's coo has resigned. maria tadeo has more. what happened? maria: credit suisse is in full damage control. the chairman conceded there was a surveillance operation done to a former employee who left for ubs, but he presented this as a rogue operation led by the coo and global head of security. both men have now resigned from credit suisse. was it comes to the ceo, it determined there was nothing that would indicate he knew or approved of this operation. the obvious question, how can a ceo not know that this is happening, especially when he worked so closely with the coo? the chairman was also very apologetic, saying this should have never happened. it was wrong, it was inappropriate, and carries severe reputational damage for credit suisse. the investigation is now done. they want to move forward. but the zurich prosecutor is saying they still want to investigate this, in particular after the news emerged that a contractor who acted as a link between credit suisse and the private investigators was found dead week ago. thank you

sorts and overnight and that's the picture now from monday exist to 15 in madrid much the same in zurich so it's teens are talking about here not much loss of temperature elsewhere but more cloud coming into jim you think well this should be the progression yeah maybe but not by monday there's a tail end to it of course it's not immediate you just see a bit of cloud building over spade and falling down into its morocco and algeria that will produce a shower or 2 and that's the picture for sunday this was ahead of it 13 to this but the cloud itself will cool things down. sponsored by. their oh we. believe in the 2 state solution the do you still believe in the 2 state solution we listen what i said was that pakistan would never start a war i'm anti war we meet with global news makers about the stories that matter 0 new yorkers are very receptive. because it is such an international city they are very interested in that global perspective that al jazeera provides. welcome back a quick reminder of our top stories here on the al-jazeera that in more violent scenes on the streets of hong kong

let's get out to joumanna who is live in zurich what do you think investors like out of this latest report? >> reporter: we paired back some of the gains we opened up 2.5 percentage points higher. ubs is still down 5% compare that to credit suisse who are up about 15% it does raise a few questions about relative performers. one of the key stories has been that of the movement of the leader there looking at the numbers today, that part of the business is down 2%. still good numbers they posted inflows. as ever because we've mentioned this a lot the low and negative interest rate, they have managed to compensate on that all eyes on their investment banking division down 59% year on year. ubs down 19% fixed income revenue down 1% i sat down with the ceo and asked him about the challenges facing their investment banking unit >> it is a very challenging environment. in the first quarter, we said we would look at the developments and be prepared to respond we are more into a permanent challenge for the industry we have to think about how to redeploy resources and refocus existing resources that'

get this, partly stemming from a personal dispute over homes they own in a wealthy suburb in zurich spying, homes, billions, bankers, john grisham, are you watching here is your next book >>> and more amid the impeachment issues the worst performing sectors health care, energy down 7%. the rest of the stats are good we have more coming up as "worldwide exchange" returns beyond the not-so-routine cases. comcast business is helping doctors provide care in whole new ways. all working with a new generation of technologies powered by our gig-speed network. because beyond technology... there is human ingenuity. every day, comcast business is helping businesses go beyond the expected. to do the extraordinary. take your business beyond. servicenow put our this changes everything. you're right sir... everything. no not everything, i mean you're still blatantly sucking up to me gary. brilliantly observed, sir. always three steps ahead. six steps ahead. sixteen. so many steps. you done? a million steps ahead. servicenow. works for you. >> welcome back and good morning. let's get a check on the top he

let's get out to goff in zurich. lot of questions whether the bank can put this incident behind them. it has been embarrassing and sin sister, i should say >> the reaction of share price is a reasonable measure of sentiment towards an organization and its behavior and reputation, then i guess the lack luster performance we've seen since revelations of the investigation and its outcome, it would seem to be that there is still a very large question mark hanging over the current reputation of credit suisse. this latest piece of news from the bank that they've adjusted upper wards of $250 million because of an adjustment in the way they are handing the risk weighted profits we understand the findings and the ceo has been cleared the coo has taken the rap. one of two senior executives who will leave the organization over this spying story, this botched surveillance of the outgoing khan, the head of wealth management going over to ubs in an attempt to prevent him from poaching stock ultimately led to the suicide of a middl

feeding into that milder temperatures actually up a couple of degrees 16 celsius in london 14 down in zurich and not bad in madrid with that rain on the way but those systems in the west and central med they will be just impacting these northern coastal areas of africa and had quite a few rain showers let you in if you will sunny throws a party long these coastal areas of algeria and those we head into friday more of the same there and some showers across into tunis. sponsor tony. what are you protesting about how does this include whether online life basement full stadiums directly out of trent lott is slavery or if you join us on saying this is an attack on academic freedom and on our ability to do research and teach freely this is a dialogue myanmar is not making it very welcoming for people to come about everyone has a voice climate change is real the discussion is real and are here to talk about the solutions on al-jazeera. hello again the top stories on al-jazeera stove has exploded on a train in pakistan sparking a huge fire and killing at least 70 people train was on its way from kar

ah, i got this in zurich! actually, what's the opposite of empathy? but what if your business could understand what your customers are feeling... and then do something about it. you can turn disappointment into gratitude. clive, you got to try this. i can't i'm working. turn problems into opportunities. thanks drone. change the future of your business. change the whole experience. alright who wants to go again? i do! i do! ♪ i have a really good feeling about this. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ >>> welcome back it's the day before the next fed decision let's get to the bond market where rick is tracking the action rick >> if we take some charts back to the last fed meeting, the last decision the lower court appoint, september 18th. you should note a couple of things maturity yields are lore thwer n they were but long maturities are higher as a matter of fact, all maturities are the highest levels in october and they go back to various points of september. since last fed meeting it's really got the hit it was acting really solid most of 2019. the question is why a

he spoke to bloomberg in zurich. >> still very challenging market conditions. we were able to bring a solid performance into this difficult context. >> in terms of the investment bank, profits down 59%. you announced a restructuring. what does that mean? what does that look like? >> market conditions have been very challenging and they are forthe market conditions business and strategic choices. we are much more skewed toward europe and asia that we are to the u.s. this is still a business where the u.s. is dominating in terms of calendar, and terms of business activity, and client sentiment is better than outside the u.s.. >> you will take $100 million of a charge. what cost savings we get and will mean job losses? region ofct in the $90 million a year cost savings. most importantly, it will give us an opportunity to refocus our , for example in the markets business we will focus on our execution, on our structuring and our financing businesses, leveraging all of the technology investments we made in the last few years. onbanking, we will focus on a globalries

ah, i got this in zurich! actually, what's the opposite of empathy? but what if your business could understand what your customers are feeling... and then do something about it. you can turn disappointment into gratitude. clive, you got to try this. i can't i'm working. turn problems into opportunities. thanks drone. change the future of your business. change the whole experience. alright who wants to go again? i do! i do! ♪ i have a really good feeling about this. ♪ >>> remember when then-candidate donald trump said this -- >> i could stand in the middle of fifth avenue and shoot somebody and i wouldn't lose any voters, okay? >> it's a legal argument for trump's attorneys in a case for trump tax returns. about presidential immunity, the president's attorney told a federal judge, the president could not be charged nor investigated if he shot someone in the street. >> what's your view on the fifth avenue example? local authorities couldn't do anything? >> once a president is removed from office -- any local authority. this is not permanent immunity. >>

but actually right after we did that, there was a new report that came out of zurich switzerland. they have had this for quite some time. this study looked at everyone who is receiving some type of medication for their heroin use disorder. the vast majority were receiving methadone. some were also receiving a slow release morphine. only 12% of them were actually receiving the heroin assisted treatment. if you offer this, it is not as if everyone wants to kind of get involved in it. we have seen these low rates in other places. that said, it could be very different in a world with fentanyl. the evidence is very solid on this. but whether or not we would see those same results here in the united states is actually a different question. because in those places where their lives are stabilized, it makes it easier for them to take advantage of the available services and resources most of these places have universal healthcare; right? in parts of the united states we don't necessarily have that safety net or it is not as strong. it is not entirely clear to me whether or not you will see