let's dig deeper into barclays' strategy. the chief executive, anthony jenkins joins us from headquarters in london. thank you for joining us today. this isn't the first strategy overhaul we have had. why should investors believe this one is going to work? >> good morning. firstly, we laid out last year a clear direction for barclays. we wanted barclays to become the goto bank. we wanted to deliver superior returns for our shareholders. there has been significant changes to the regulatory and economic environment. we have the same objectives. this is a different way to get there. i believe investors will have high confidence in our ability to execute the strategy change. >> are you sticking to your target? are stillned you targeting 12% of return on equity by 2016. what about the rest of them? >> in most cases, the targets have either stay the same or we have improved them. we have a target for the core business of greater than 12% in 2016. dividend commitment remains the same. we have improved our cost 14, 15on targets over

that is deutsche bank basically. >> but it was barclays three years ago. >> barclays has more legs to stand on i think. barclay card is a profit machine. they have diversified into africa a bit. deutsche bank, their domestic retail banking actually has never been all that profitable, really. they have tried to strength it in recent years but the big driver of deutsche bank has always been the investment bank. >> did diamond sell the wrong ide of the business? >> all right. let's move it on. otto, thank you so uch for coming in. -- crab fishermen risk injury and death. discovery channel's hit reality ow "deadliest catch" chronicles the journey of some of these fishermen in alaska. we caught up with captain keith about what it takes to do one of the most dangerous jobs there s. ry my name is captain keept coburn. fisherman. ou might see me on the show, " deadliest catch." there is something about being on the water, working with and against mother nature. the team work that goes into being on the boat gets your heart pumping. if i was going to make a list of e qualities i'm looking for,

that's what barclays has announced it will do in years. barclays will cut 7,000 jobs. here's the chief executive anthony moves to create a much better balanced bank. they mark the era of high risk banking that the previous chief executive diamond fostered. this new announcement means barclays will cut 14,000 jobs from all units this year. that's 10% of global banking work force with another 5,000 going by 2016. it takes that et to number absolutely to 19,000. barclays will also set up a bad bank will eventually sell or run down operations. pretty much deemed less important to key businesses. on top of that retail banking, we know in spain, portugal, italy and france named as non core. right here in uk, barclays and african business units there. let's get more now from george. he is joining us. great to have you with us. for a global audience, these numbers are bigger than expected. explain what's gone wrong at barclays? >> barclays has it has same problems as a number of other investment banks. specifically it had a problem in what banks cause fixing commodities. basic

like strategy day for barclays. pressure has been mounting for targets over job cuts, and what the business was to focus on. manus cranny joins us now. you've been following this for a long time. focus will be on the jobs story. >> whether jenkins in his second review, been there nearly two years, but it is just aggressive or substantial. will it be within the investment bank? it's hard to talk about the consequences but that's the reality. that's one of the biggest costs speculating now that the bank would drop 20,000 jobs between now and 2016. originally, they had said it would be around 15,000 jobs by 2015. i think the most critical piece be what's strategy will and how many changes within the investment bank you will do. throws a much bigger question up for jenkins. what are you? >> you spent years building this part of the business. >> are you still truly a global international investment bank? where do you want to go? do you want to be a beast of fixed income? do you want to be one of the top players in foreig

barclays says 1 ,000 jobs will go over the next three years. the stock rallies as he tells this channel he's separating off noncore assets. >> this is not about a set of bad assets we're trying to run off. this is about nonstrategic aette ises which we want to exit or run off over time. the vast majority is from the investment bank. >>> despit a cautious outlook, morrison sales continue to slip as the retailer is battling to keep market share. >>> and the art of doing nothing is honed both sides of the atlantic. fed chair janet yellen keeps investors guessing while mario draghi is to remain tight lipped on the euro. >>> we'll be joined exclusively as well by the ceo of another big player in the asian market, tid tidjane thiam joins us in three minutes. >>> you're watching "worldwide exchange," bringing you business news from around the globe. >>> hello an a warm welcome to today's "worldwide exchange." as ever, there's plenty to get through. we'll be concentrating on the countdown to the rate decisions from the ecb and the bank of england. >>>

and barclays will cut 19 -- 19,000 jobs. the biggest shakeup will be in the banking sector. >> also coming up this hour eight european nations are coming together to try to get a handle on islamist radicals. we have more on the strategies to stop the growing ranks of western youth joining jihad e-groups in syria. and football history made here as helen acosta-- -- helena costa becomes the highest rating woman to lead a men's team. the voting in the ukraine will go on this weekend as planned despite vladimir putin calling on the separatists there to postpone. that announcement came from the self-styled leader of the rebel donetsk people's republic. robert, what more can you tell us? >> as you said, the self-styled president of the people's republic was speaking on the 17th floor and he said the vote would go ahead, the referendum would go ahead on sunday despite the appeal of vladimir putin for to be postpone. he said the reason for that was the ledger is arnie in place and they had gone so far that they could not betray the

will other banks follow the barclays model? >> when you talk about the barclays model, it means that it is the one bank but it is looking -- probably deutsche bank. barclays is trying to put themselves in a stronger position without raising capital. thatsure the executives deutsche bank are looking at barclays as a test case. can monitor their core business for once, which has been tricky to value over the last two to three years. mess this up?on could diamond of course barclays in a difficult position because of bar cap, right? is the investment bank that is doing so badly, but where he may be right, and he is now working on africa, is that africa is one of the big businesses that the new ceo wants to be in. weak.xed income is so and maybe he foresaw the next opportunity, which is banking in africa. sofrancine lacqua, thank you much, anchor of "the pulse." you can check out her interview on bloomberg.com. >> i think she is dead on. it is deutsche bank, and then you go over to u.s. banks. this was mailed 18 months ago. well, bu

just getting those numbers from barclays. if we start with the adjusted ones, 1.69 3 billion pounds. that is down five percent. giving us the details about their investment banking business saying income is down by 28%. thatwe look at the numbers strategy has improved 18%. continue to be cautious. we are going to get a strategy update from the business later on this week. we will see what that amounts to. just on the net numbers. q1 net is 65 million power -- pounds. they have beaten estimates on the net level at least. >> they have lost three big executives in asia before that strategy announcement. the big name was skate mckay that added -- headed up the american vision. his bonus was more than twice the size of [inaudible] esteem he waswhat held. will the investment bank be 7.5 thousandny as jobs could be cut. as bloomberg has said, barclays intuitnveil the bad bank -- and it will throw another units which were previously assigned to the exit quadrant. they include some of the rate trading derivatives and other fixed incom

barclays going to set up a bad bank to sell or run down non core operations. retail banking in spain, portugal, italy and france will be named. it basically will be given to retail banking operations here in the uk, barclay unit. african businesses. we'll have more on "gmt" and throughout the rest of the day on this reshaping of barclays. japanese gaming giant nintendo says it will not allow gamers to play as gay characters. a fan launched a campaign urging them to allow same sex characters modelled on real people. we're going to talk to an expert. follow me on twitter. i'll tweet you back. got to go. that's it for business. back to you geeta. >> thanks very much. >>> a new weapon on the war on drugs. it's deployed on the british made and its service. >> reporter: this infantry makes preparations for patrol. this is a british made hovercraft shifted from south hampt hampton, one of several for delivery. i spoke to one of the new pilots and asked how many troops they can carry and what it's like to drive one on jungle rivers. >> translator: the maximum speed is

barclays is down 3.5%. ae investment bank revenue concern for many people. down 3.6%. that is the biggest fall are on the ftse 100. tty downe, balfour bea 16.1%. >> all right, jonathan ferro. thank you so much. these are the bloomberg top headlines. u.s. attorney general eric holder says no company is too big to jail. he made the comments as prosecutors move closer to bringing criminal charges against credit suisse and bnp isba. the eu will urged turkey to reduce its current deficit and give its monetary policy on inflation prospects. turkey's efforts to join that you have stagnated since 2005 very that the nation has made it one 35th of the way through a required for membership. asaine has testified government troops try to regain ground from pro-russian militants. that dozens ofs civilians were looted. security forces have often been sent to the black sea city of odessa. for more on the latest out of ukraine, let's get more -- let's get directly to ryan chilcote. what are we seeing in russia? >> it is down about 8.6% versus the dollar. , you lookt concern is at all t

barclays shares closer. investment revenues down 28% due partly to the slump in fixed income revenue. barclays set to announce it will shrink it investment bank. balfour bay deatty the biggest losers today. says 2014 numbers will be significantly lower than expected. the firm ceo announced he'll be departing. balfour says the weakness comes from its british construction business which has been hit by operational problems and major project delays. it is now conducting a strategic review. elsewhere, glencore boosted by expansion in its african operations. and dsm saw its earnings drop though in line with expectations. dsm did reassure investors with higher earnings the rest of the year and headwinds appear to have peaked. adidas off slightly. profit down 34% in the first quarter. blaming it on weak emerging market currencies as well as a big fall in its golf franchise. and bmw posted a rise in the first quarter. stock off a little bit. anita has more on that. >> bmw shares right after the market opened were up

barclays said it would cut some nineteen thousand jobs over the next three years. i think it's a cap is in the investment bank in the scandal the french soldiers killed overnight in northern mali. french defence minister says france is sending three thousand more soldiers to fight islamist terror prisoners in the past the health region that cost is from the tcf. the chinese council spent at first it to the trapped between the russian president threatened to put in and the head of nato on changes in ukraine on wednesday put in said he's pulling a russian troops back away from the border. but the next weeks post it later in the day the nato chief said he had seen no signs of russian troop withdrawl. that prompted russia's foreign ministry to say that meter head anders progress reason was quote a line. pro russian separatists in ukraine have been pushing for a referendum on independence to be held this sunday but in his comments yesterday but it couldn't hurt them to postpone the vote. the grade we are requesting the representative of ukraine south east and support as

chief economist at barclays capital, joining us from his office. it is always great to have you on the broadcast. >> thank you. >> up next, a check on the markets and we will wrap up the foretwork up fronts advertising. that is coming up. ♪ >> a reminder, there are multiple ways to watch bloomberg television. we are on the web at your mobilem,, on device, on apple tv, and on amazon fire tv. .com, your mobile device, on apple tv, and amazon fire tv. the u.s. army spent $300 million to develop an aircraft as a floating spy center, but ran out of money. now a british company is giving it new life. >> it is the world's biggest flying machine. ander is larger than a boeing 747 and 20 feet longer than the previous title holder. usesblimp like airship helium to get off the ground, but uses its aerodynamic shape to stay in the air. it can hover in the same spot for five days straight and can land on sand, water, ice, or snow. british aeronautics company hybrid air vehicles the ability original model for the program 2013.t of funding in >> months later, t

it says "brooklyn burger cheeseburger." >> both: "barclays signature prime beef." >> that's not barclays signature beef. >> it's ours. >> did you see that before? >> no. >> but see, these are the details that matter. we're spending $180,000 a year. as i walk around the stadium, i don't even see $18,000 worth of value. i see the batchagaloop burger. >> it's made with a brooklyn burger-- >> so they have a burger in here that's not called the brooklyn burger? that's a problem, right? the sports contracts that we have don't justify any sort of investment. i've made the decision to terminate all of the sports contracts, and save over $400,000 a year. we're gonna focus on selling these burgers in grocery stores around the country. look, i'm as enamored as you are by the glitz and the glam and the logos and all the fun stuff that goes with it. but at the end of the day, it's a business decision, right? >> correct. >> so it just doesn't-- although nice, the economics just don't work. >> and who gave you the p.o.? okay, let me check with frank and i'll get back to you. okay, bye. frank? >> yeah?

barclays stands by four percent. it is on the investment bank revenue side of things that is a little bit of concern. that is not just a theme for barclays. it is been a theme for the banking industry. however plays out will be interesting going into the next quarter. sizable moves for the pound. 169.45. -- 1.6 945. it is three quarters of the u.k. economy. if you thought policy was going to be boring for the rest of the year, you may be disappointed. the euro went up by 4/10. corporateiticians, across the eurozone, the exporters, what is going to push the euro down? we are above 1.39. no ecb talks until thursday. expectations of the ecb are pretty low. who was going to talk us down? janet yellen? she's the smart. is that -- she talks tomorrow. is that enough? don't get your hopes up. >> don't get your hopes up, john. >> coming up, lufthansa presses ahead. we will be speaking with the company's chief financial officer. >> as we head into break, let's the oscars of the fashion industries. event, whitethe tie, apparent

jim mccormick at barclays, thank you so much. take a newe -- parliament. voting starts in britain today and will continue across europe as eu residents hit the polls for the first time in five years. hans nichols joins us now to tell us a little bit more. context for me. i know we have had the indians go to the poll. that is huge. this is the first time in five years that europe speaks. logistically, india is slightly bigger. this is a massive undertaking. this time is different because voters aren't just electing a new parliament, but they are -- headse to have some of state of each government will be bound. unclear, onnt is when they select the next eu commission president which is where the real power resides. some challenges that election planners have, they have got to figure out how to get turnout up . since 1979, it is down almost 20%. that is really their challenge. 751 seats are at stake. i won't ask you if you have already voted because i know they have started in the u.k. and we would be violating some sort of broadcast rules. >> after the discu

of the campaign will mark the end of norwich's three-year stay in the barclay's preleague. it's been a painful season for the norwich faithful and even the most optimistic accept their fate has been sealed even if the match might suggest otherwise. meanwhile, it's aiming for a fifth straight win a week before the fa cup finals. here's arsenal playing at center back along sign laurent koscielny. five changes. but it's been a pretty strong team out there for him. >> it is. they like the variety, i think, of scotland this season once again. no doubt in the court there's been more attention and the finish the season strongly. they find it very, very difficult to overcome losses. just seems to take the sting out of the whole squad, really. almost everybody goes up at the same time and that's why i don't think, actually, that the absence of ramsey for the last part of the season, from christmas, really, as affected the way they would have played, even if he was fit. >> it's keiran gibbs for arsenal. and mikel arteta. finishing its fourth play for the sixth time in nine years seve

. >> fedex getting a downgrade at barclays at equal rate. that fedex is going to start to charge by next january by package size and not just weight. >> it's a big story. a giant thing of dog food, it may be light. >> imagine toilet paper in a massive box but very light. you'll have to pay, i think, 37% more on average for a big box like that. >> yeah. and so the call is what a difference a year makes. the stock had had been on fire. barclays likes it over the long term. so it's not a negative long-term call. but barclays saying the company managing near-term growth and probably the fallout of the story you referenced as well. >> watch whether u.p.s. follows suit. under-the-radar is the provider of modular office space in california. >> yeah, livermore, california-based company. they like the valuation as well as parts of the core business. the stock target, $41. mcgrath recently missed earnings. the stock down pretty big this year. but key bank coming out and defending the company. basically if your school or office is too big, it's kind of

barclays bought parts of it because barclays had the ability to buy it, and now barclays is about to go under. stuart: governments make decisions at times of extreme crisis. they should make decisions in the best interests of their society, their country and the voters. had they stopped the collapse of lehman, we would be better off now. >> but this is a government of limited powers that exists under the constitution, and it may only do what the constitution authorizes it to do, and the constitution, most respectfully, does not authorize the federal government to borrow money and incur the debt of the taxpayers in order to bail out failing bankers. stuart: so take them to court, have it reversed, and let's reverse the whole situation. >> it's a very interesting book in which he makes a bunch of revelations. stuart you're trying to change the subject. it is only unconstitutional in your reeding of the constitution -- reading of the constitution. >> yes, of course, in my reading of the constitution. stuart: there you go. >> tell me about the supreme court reading that upheld the consti

barclay, deutsch bank, credit suisse. barclay said the same thing jpmorgan said. trading revenues down 41% in the first quarter. second quarter isn't going to look much better. challenging trading conditions resulting in subdued client activity. i love that line. what does that mean? is this a cyclical or structural sflob looks cyclical. for the moment traders can't make money trading fixed income. don't have a lot of events to drive the volume. remember we have the dodd/frank act, capital restrictions going on in the u.s. and overseas. the basil rules. that's a structural issue. this could be a long-term problem as well. remember it's that area the proprietary trading books that was a growth engine in the past. meantime see the options business. cboe had a great report. double-digit increases, record revenue in earnings thank goodness for the vix. that product is the gift that keeps on giving. vix volatility products keeps growing and growing. people want more protection all the time. cboe down fractionally. twitter, okay. i know the lockup has expired and everyb

a former barclays trader has been banned and fined for inappropriate conduct. daniel james plunkett exploited weaknesses in barclays systems and controls to seek influence at that day's 3:00 p.m. gold fixing, thereby, profited at a customer's expense. the fca fined plunkett 95,600 pounds and banned him from forming any function related to any regulated activity. this is concerning by the way. this affected figures from 2014 to 2030. >>> ukraine's prime minister claimed there's evidence that moscow is involved in violence in the eastern part of the country. pro-russian forces and ukrainian government soldiers violently clashed on thursday. mortar fire and explosions were heard in an eastern city. this comes ahead of presidential election where poroshenko is expected to win. >> we're 200 kilometers south of kiev at one of the final rallies, billionaire petro poroshenko. he's selling the message of a united ukraine, underlying the need for further european integration. he says that's the only way forward for this country. at the same time, he says he can reignite

barclays hemorrhages talent. joining me this morning, scarlet fu and adam johnson. host, robert kaplan of harvard business school. and the former cftc commissioner is with us as well. >> signs of global slowing overnight. eu, they have lowered the information forecast. theomic data at nine or five. -- at 9:45. heavy stuff but obviously very important. before the bell we have earnings out of tyson. after the bell, aig. i believe the pfizer earnings -- >> they just came out. with theshare compared consensus of $.55. if this is correct, $11.35 estimate.sses the pfizer does reaffirm all parts of its financial guidance for the full year. that is one thing that investors will be looking at very carefully. everybody is looking for some kind of commentary on the astra zeneca. you typically wouldn't. 7.5%trazeneca rejected the sweetener on friday. >> this is very interesting. pfizer is not currently permitted to confirm or update its 2014 diluted guidance. to the is due applicability of the u.k. takeover court in combination with astra zeneca. they are not going to report th

joining us from barclays. goasls foradidas' growth. he is the man behind the design of the 2014 world cup football. stay with us. ♪ >> welcome back to "countdown." let's head out to jonathan ferro for the ethics check. -- france gives us nothing. pretty much dead flat on the day. let's talk about the divergence in those two economies. 0.8% out of germany on the quarter. zero percent out of france. how does the ecb deal with that? these numbers are a deal maker or dealbreaker for what happens next month. it is. head into next month. bigecb decision will be the driver of this. back to you. >> these are the top headlines this hour. japan's economy grew at its fastest pace since 2011 in the first quarter. theonsumers splurge before sales tax rise last month. found gdp from france and germany. the recovery stalled in the first quarter. asgermany growth accelerated construction and domestic demand [indiscernible] weaker exports. 11 people were fail -- fired for failing to discover loan fraud at its mexico unit. bank continues its investiga

the senior barclays was fined for interest rates. and the wto has moved against china. 2011case stems back to introducing imports. worth $8.5 million. that is the business news. >> this is what is going on in the french riviera. >> a man is far from a stranger to the festival shores. time, the irish historical drama with the longtime screenwriting partner. >> [indiscernible] >> it is not just a building. it is what we are. >> great human beings. >> it is a little bit the winds that shake the interview today. this is the 12th time, i think. >> it is always nerve-racking. they are desperately anxious. it is a place you come to if you're lucky. >> it is a mile away from the subject of your films. on from the claim of the wind that shakes the barley. tell us what the film is about. they open the dance hall in ireland, 1920, 1921. towas a place for people dance, to learn, to exchange the ideas. the church closed it down. they came back 10 years later. >> come in, father. you're welcome. >> who the hell do you think you are? running classe

what's going to happen to barclays now? >> yes. the lehman legacy, other than maybe two senior people, i think eric feld is one of the last senior people -- >> skid magee yesterday. paul parker left. >> the legacy of lehman brothers and what was acquired that weekend of 2009 is now basically gone. i mean basically if you want to go back and look at the history, barclays will say they did buy lehman cheap, did get the real estate on sixth avenue but -- >> do they get the investment banking business? >> the re-aug is developing right now. they're shrinking the business to grow. >>s who's going to take that business? is there somebody -- natural person out there sp. >> the business is not taken unfortunately. >> look at the lead tables. you seen it across the street. the equities business, look at our equities business. you saw what we reported a couple weeks ago. >> did -- >> other institutions are picking it up. >> did bob dimon make a mistake? >> you'll write the next book. i'm not in a position to judge it. i think history will sa

barclays lloyds are b.s. technically insolvent how do they stay afloat manipulating the market how do they finance it ultra low interest rates who gives a mill to low interest rates mark carney who doesn't give austria and germany back their goal. beseeching the leaders of germany recto invades u.k. bring back the glitz you're not going to get your gold in the us you probably frickin idiots that's what i'm saying go back to the subway it was underground and hide from the bombs because mark o'mara is still if your goal ok we're going to be in jersey or somewhere in this doctor so we can have all new jersey and. and some were better but so plonk at this guy he he booked for barclays a one point seven five million dollars profit versus the three point nine million that his client would have earned had his bet his option. for prince charles you know because he was criticizing putin recently and so let's do a version of the show that prince charles would understand that putin and russia not entered world war two w

barclays lloyds are b.s. technically. how they stay afloat manipulating the market out of the finance it also low interest rates who gives a meal to low interest rates mark carney who doesn't give austrian germany back there of gold. i wonder if you think that all that support free of charge or whether there is some sort of implicit expectation that american oil companies or just american companies will get someone access to your country absolutely and there is nothing these days for nothing if somebody assisted you to achieve a certain victory there must be something in return. bustles versus the people and the growing democracy deficit voters all across europe have such a very strong message to the gate keepers of the european union and the establishment media they must in fact power to the people of. chilean students have been marching in the streets demanding free public university education for over three years now but despite a new president coming to march and coming to power in march promising to make

shares in barclays up six percent on news about radical make over for the british bank plans to slash nineteen thousand jobs over the next three years and easing out of its scandal hit investment banking arm barclays returning to its retail groups the drastic times. drastic measures often disappointing results in the past three months of this hit barclays bank has announced a series of structural changes starting with sweet pea layoffs. on thursday the lender announced fourteen thousand jobs or attend to that swelled like what falls onto the cars this year in and around five thousand more are expected to carry before the end of twenty sixteen. please please to the mid fifty percent drop in pre tax revenue in one cents for when the british bank's fixed income currencies and commodities business. the down times been blamed on the drop in the trading of bonds due to sluggish economic crisis and uncertainty over interest rates. off the job losses are expected to be caught in the uk. specifically the company's investments on the to be split into you honestly that's could be enough to guess

the chief european economist at barclays joins us from paris. seen, the just situation in ukraine is developing in the wrong direction. as youstart thinking come to work this morning that i need to start penciling in lower growth numbers for europe? do you start thinking that as a process? are sanctions looking increasingly likely? >> yes, i think you are right to mention we are reaching a new stage in crisis. stage 3 if the sanctions are triggered, this would definitely have a significant impact on the global economy and europe. germany would be hurt quite badly. also estimates showing that we could have up to 1% of gdp impact on germany, which is quite big. --s is something we need to i agree. >> what is your sense of where you see the numbers? we talk about these numbers floating around. how bad could it be for germany? at the start of the financial crisis, we saw just how geared germany is for the global economy. it does not take much to start pushing the numbers down quite strongly. >> we should not exaggerate. case, it could be 1%ficult to

marvin buff is the head of european fx at barclays. good to see you. >> good to see you. >> when you take the data in the u.s., as we head towards the employment report on friday, what are the implications for the dollar? >> our view on the dollar remains fairly consistent, even after the gdp data. we continue to look for long-term dollar appreciation. in the near term, however, it's going to be challenged until we get some supportive inflation data that is going to push the federal reserve towards rate hikes. and that's likely to happen in the second half of this year. but in the near term, we see a little prospect of that. we do think we could get a significant boost to the dollar this week. as you highlighted in steve liesman's report, the jobs numbers looked quite good here. the gdp numbers should be taken with a pinch of salt and given the weather issues that affected them. we're looking for a 250,000 job gains in the payroll report. that's this friday. that should give the dollar some firmer support in the near term. but ultimate

barclays lloyds are b.s. technically insolvent and they stay afloat manipulating the market out of the finance and also low interest rates who gives a meal to low interest rates mark carney who doesn't give austria and germany back their gold. this is still one of the most isolated and mysterious places in the world old legends of kind of bulls make many people afraid to travel here but they're going to put us on the menu the europeans have been here for less than a hundred years few people know what secrets lay hidden within these forbidding mountains. they said a bunch of cannibals killed and ate a group of shamans a russian plane one of the biggest in the world flies as a pup when they get these wild mountains for the very first time. villages have never even seen a come. what will they make of this huge steel but. european workers are told never to venture out alone. truths and myths oh no it's the. choose your language. we can't with the infidels someone. choose to use the consensus he could. choose to g

barclays is focusing on more of a societe generale model. they are trying to maintain the whole thing in a sustainable way. you say strong retail, you are closing 30 to 40 retail branches this year. why? -- impactingpacted business. it is digital technology. not go to branches for meetings. with digital services. >> how do you foresee spending the 4 billion euros you have available to your private or consumer bank? >> first of all, we will generate 13 billion euros of capital, 4 billion for organic growth, and all businesses will grow. of course, some that are than others. french retail will not grow that waykly, and in the same capital markets will not grow too quickly. retail activities in emerging markets will grow at a much higher pace. then we will spend $5 billion for the dividend, and we have a growth of $4 billion if is higher. >> when you talk about emerging market growth, is this russia and africa where you seem so enthusiastic question mark >> -- enthusiastic? >> you are absolutely right. it is central and eastern europe, and afri

barclays lloyds are b.s. technically insolvent how do they stay afloat manipulating the market how do they finance it ultra low interest rates who gives a mill to low interest rates mark carney who doesn't give austria and germany back their goal. beseeching the leaders of germany redcoat invades u.k. bring back the blitz you're not going to get your gold in this you probably get it gets that's what i'm saying go back to the subway it was underground and hide from the bloem because mark you want to still it's your goal ok we're going to be in jersey or somewhere in this godforsaken hellhole new jersey and. and some were better but so plonk at this guy he he booked for barclays a one point seven five million dollars profit versus the three point nine million that his client would have earned had his bet his option dollar prince charles you know because he was criticizing putin recently so let's do a version of the show that prince charles would understand that putin and russia that entered world war two when t

barclays in ah at down note continues. jobs at its investment bank in addition to the 12,000 cuts announced earlier. a big retreat for the bank was announced as part of its strategy and the ceo spoke to bloomberg earlier today. the -- we are focusing where we can compete successfully and the parts of the business we will be focused in going forward are the less capital intensive businesses, which is why we can free up the capital and the way i have described. run the banquet less capital and deliver high return. it's very compelling in the new world we find ourselves in. that investment banking. that will cost you because you are taking on some risk there. they lost their whole advisory team. >> anybody making any kind of commission. this was like home alone. i almost screamed when i heard the news. to watch this guy -- he should run for politics because now we are going to focus and you've lost all of this money taking the bad assets from 195 billion down to 50 billion. >> and they're basically saying we are not owing to

barclays says it will slash another 2,000 jobs as part of a major strategy shakeup. that adds to another 12,000 job cuts that were announced in february. ceo anthony jenkins says the changes will make barclays leaner and stronger, make a 5% fall in pre-tax profit in the first quarter. >>> well, still to come here on "cnn newsroom", a high profile arrest in that south korean ferry disaster. we'll have the details. >>> also ahead, it has been two months since malaysia flight 370 disappeared without a trace. we'll let you know where the search is going next. you think you take off all your make-up before bed. but do you really? [ female announcer ] neutrogena® makeup remover erases 99% of your most stubborn makeup with one towelette. can your makeup remover do that? [ female announcer ] neutrogena® makeup remover. >>> they've arrested the ceo of the ferry company. he's charged with causing death by negligence and charged with causing death. the ship's captain and 14 other crew members already in custody. >>> and investigators are saying now excessive cargo and the fai

and shaking this hour -- barclays ceo anthony jang chen's -- jenkins is cutting 7000 jobs at barclays which is about 1/4 of their total workforce. they had a 49% drop in profits and he wants to reduce their dependence on fixed income usually their biggest source of income. >> the essence of this is about focus. that's true for the whole bank, not just the investment bank. we are focusing where we can compete successfully. the parts of the business we are going to focusing on are the much less capital intensive businesses. that is why we can free up the capital in the way i have described, run the bank with less capital, and deliver high returns for our shareholders. is very this strategy compelling in the new world we find ourselves in. isalso moving and shaking sheldon adelson, the ceo of las vegas sands. m exclusive interview, the world's 11th richest man says he will do whatever it takes to ban online gambling in the u.s.. he is the son of a boston cab driver and he says he knows up to be poort is like and he says the poor big exploit it says he does not want that happening by givi

let me mention where we are on barclays. a lot of the banks are higher across europe because the cost of funding continues to fall and sovereign debt markets continue to rally. barclays is now up 8% on the session, making up for the losses earlier in the week. big announcement from jenken, the ceo, cutting 19,000 jobs over the next three years. big news for us in this country, 7,000 of them will be in investment banking. that's one in four investment banking jobs, as they shrink the size of the investment bank within barclays from roughly half to about a third. may not necessarily affect jobs here on wall street, so much as in asia and other parts of the world. essentially what jenkins is saying is that the recent halt in the trading boom is now permanent. it's not cyclical. that's the judgment that he's coming to. they're also going to put $140 billion of debts from the investment operation, the investment bank, into a bad bank. listen to the ceo. >> basically we're dividing the bank into two -- a core group of four strong

that's why, at barclays, our ambition is to always realize yours. ♪ they just change boots.. that's why we made the all-new jeep cherokee. with an exclusive 9-speed transmission and 31 miles per gallon highway. so you can keep going. >>> not only does everyone have an opinion and reason to take offense to anything but they have social media where they can bitch and moan about everything like leslie jones' performance on "saturday night live" where she joked about a slave. >> i'm saying i would be the number one slave draft pick. all of the plantations would want me. i would be on television like lebron announcing which plantation i would go to. i would be like i want to take my talents to south carolina. >> for almost all of last year people were kblaning about diversity asking where are the sisters on "snl." now there are some, you complain about the jokes. the jeffersons, all in the family, good times, they all used the "n" word and broached controversial race topics as well. "in living color" had wanda. you laughed at them. leslie jones responded by saying that black peopl

that's why, at barclays, our ambition is to always realize yours. liz: a little bit of breaking news here. if we're to close right now, all major indices including the russell 2000 and the transports would close higher for the week and for the month. so stay calm and carry on. that's what our next guest is saying, the s&p in record territory, dow's not too far behind. but bears beware, u.s. markets are still up year to date. raymond james managing director says do not panic, stay in. despite what this chart is telling you, the flight to bonds could be the biggest mistake the average investor makes. and here's the chart. you can see what tlt, which is the ishares barclays 20-year treasury bond, look at that, it is getting killed by what you see is the s&p 500. let's bring in jeff flock in these last 12 juicy minutes of exchange trades. what do we have right now? the cme, the new york stock exchange, and the nymex. jeff, your perspective on this, st even though they've had a pretty nice move since the beginning of the year? >> yeah, i got that wrong,

even firms like barclays now saying that maybe first quarter growth was actually negative. negative growth. you know what we mean. >> never a good thing. also in this discussion we have former congressional budget office director doug holtz-eakin. john, since are you in the restaurant business, you see what consumers are spending money on, what they're buying, how much they are willing to actually take out of their wallet. >> how high are they reaching on the slefl? >> they're not reaching as high on shelf. there are two equations in our business, guest counts and spend per guest. combination of those two elements drive our revenue. we are sees rising guest counts. we aren't really seeing substantial rise in spend yet. that's what's really holding back the chain restaurant segment. earnings are reasonable. we're seeing some growth but until we get spend released we're not going to see the growth that we need to. >> not you specifically but the industry's sort of training customers now to expect the two for $25. some of those deals that bring people in. >> that is the fallou

meantime this is story you were reporting on for a while, barclays cutting nearly 20,000 jobs. charlie has been reporting a while. >> for a year. melissa: now everybody is jumping on the bandwagon. >> bank made huge investment in investment bank, barclays is a investment bank. melissa: bought lehman, you're right. >> it bought it at fire, vultured back in 2008. melissa: certainly did. >> you remember it well. i do. now it realizing it ain't working. what they're blaming, what their people are blaming, telling people in congress, their lobbyists are talking to congressional staffers, they're saying we can't deal with massive amount of global regulation, both dodd-frank in the u.s. and stuff being thrown, shoved down our throat in europe. guess what? that means a lot less jobs. >> they also not only investment bank being shrunk down, but to your point about the regulations they have gone way up, expense of operating a bank is way up. in addition to that the trading revenue, people are gun-shy. so the trading revenue is backed way, way off as well. melissa: okay. >> they're gettin

barclays lloyds are b.s. technically insolvent how do they stay afloat manipulate the market out of the finance and also low interest rates who gives me also low interest rates mark carney who doesn't give austria and germany back their gold. i wonder if you think that all that support free of charge or whether there is some sort of implicit expectation that american oil companies or just american companies will get someone access to your country absolutely and there is nothing. nothing. to do to achieve victory there must be something in return. we'll take some steps to reassure you crean we want to see a prosperous stable ukraine but i don't think that you know in the end i don't think that the west is point all that much. you. muscles versus the people and the growing democracy deficit voters all across europe have such a very strong message to the gate keepers of the european union and the establishment media they must conduct our to the people. let's face it some people. should be happy with us here on o

their investment banking composition indicating barclay's return to retail banking. it will come from branches in the u.k., europe and africa and from their operations staff. >>> finally, illegal immigrant from morocco has made the ferry cross to go spain by hiding on top of the ship's turbine. the 20-year-old traveled from t tanjiers. other my grants aren't so lucky. many tried to swim and there are frequent drownings offer of the coast of morocco. >>> those are the main stories here in europe. now, it's back to david in doha. >>> thank you. a strong earthquake has shaken the southern pacific coast of mexico and several states there. the magnitude 6.4 tremor hit 27 kilometers away from mexico city. buildings were shaken, prompting evacuations. there are no immediate reports of major damage or injuries, however. an inmate who is to be executed in the u.s.a. state of oklahoma on the same night as a botched execution has been given a stay of six months. charles warner was scheduled to have died last week on the same night as clayton locket. his vein collapsed during hi

he has included several rising ,tars, including ross barclay raheem sterling, and jordan henderson. >> the balance is still quite good. there are enough players. cahill, baines, gerard, all of these people have got plenty between them. it would be wrong to focus totally on the fact that there are some out there who are young and less experienced, because everyone is inexperienced until the time he gets a chance to show he can do the job. >> perhaps the most to remove is the admission of ashley cole in favor of the teenage southampton left. the 18-year-old has displaced the 33-year-old as the understudy to gains, despite only making his international debut in march. >> 2 very different things. one player has got 107 caps and one who has many to come. at the end of the day, it was a decision i had to take, and it was a hard job, actually, to explain that to him. i can only be unbelievably grateful for the gracious way that he accepted the decision and accepted that it was a choice i had to make. >> his 35-year-old chelsea teammate did make the cut. the campaign against italy on june 14.

by the way, it doesn't include rights to the team's home arena, the barclays center. what makes the franchise worth so much? prices in the nb aft absolutely soaring due to surging media rights fees and growing international businesses. they own a controlling stake in the barclays center seen right here although there is no word whether the company intend to alter this position. interesting. david: indeed. unless you're a company supply manager, you don't realize how much is tied up in the wholesale supply market. things like bulk orders of paper claims clips, tone another supplies and light bulbs. jeff bezos knows this. he knows there is two times more money in the wholesale market than the more sexy retail market that amazon is usually known for. that is why bezos is moving to wholesale. when and how the increased value is worked into the share price? our next guest is thinking about this he has some answers. bruce cohen head of private equity strattist practices. good to see you. amazon supply. they even have a name, amazon supply is the name. have investors conside

we've had barclay's job cuts, the latest investment bank to say vest banking is not working as it used to. about 7,000 in total. the u.k. cutting 19,000 jobs over the next 2 1/2 years. >> steve, when we talk about what's going on in terms of delivery services, there are fans of fedex that should expect changes. >> the key here is it's not just about how much your package weighs, it's about the size of your package. the size will be mattering. they'll say for ground deliveries, it's how big the package is as well. i can tell you the next time you're shifting an eight-pound 32 pack of toilet paper, it will increase by 37%. beware of the size of your package going forward. >> i feel like you're trying to entrap me in going forward. >> it's all about the size of package. it's all here in the copy. >>> seattle see hawk is smiling. we've seen unimpressive performances on "wheel of fortune," this clip from "family fe feud" may take the cake. we'll have more when "way too early" comes back. >> the so-called son of sam in court today pleaded guilty to all six of the murders that frightened new

the fed's help wouldn't eliminate the risk to barclays and british regulators opposed the deal. andrew ross-sorkin sat down with timothy geithner and you will see that at 8:00 a.m. today on "squawk box." >>> a check on the u.s. futures right now, adding to some of the gains, some wider gapes in friday's session with the dow indicating 22 points right now with the s&p higher at 4 points with the nasdaq up 9 points. >> joining us is bob from the cme. very good morning to you. what's the key for you this week? >> well, i think we go into a couple critical days and a very critical week. that's not typical to happen in the middle of the month like this, but i just think the record highs aren't significant unless we can get something behind it. we are pretty much through earnings season. not very much exciting coming out. a lot of the momentum stocks like facebook and tesla. it will be interesting to see what happens with the nasdaq this week. if you get acceleration with the dow and s&p, do the momentum stocks pick back up? does biotech recover a little bit. if those things happen, t

that's why, at barclays, our ambition is to always realize yours. ♪ ♪ ♪ funny, there was no mention of hail in the weather report... (vo) celebrate this memorial day with up to 40% off hotels at travelocity. (gnome) go and smell the roses. (agent) i'll walk you guys through every step. there are a lot of buyers for a house like yours. (husband) that's good to know. . >>> yesterday the >>> yesterday the house held lois learner in contempt, and today, the committee. >> why suddenly today the irsk+ says you can have all the e-mails of lois learner? >> it shouldn't have taken this long, it's been almost a year, the president promised quick action, it's taken a long time, the irs is delayed but maybe ratcheting up the pressure with response. >> that's really disgracefulgs@ that you have to ratchet up, spend time and<61 does the irs say when they have when they're going to deliver the materials? >> we believe that she@[ violat people's constitutional rights, their rights to due process and that's actually criminal in nature and so this is very serious. and and we want to find how far this go

>> we have been working with barclays premier league all season. we have been saying thank you to fans. been a very popular #. one of the first companies -- leagues ever to do that. we wanted to say thank you in another way and test the passion of the fans, the passion of their heart rates using heart rate monitors. it was an exciting and experiment. >> you monitored fans, some former players. >> we wanted to make -- the premier league is hugely popular internationally. we wanted to bring that element into it. south africa, some super fans who support man city. gains.massive >> some big scores, liverpool with a few goals. quite get itll not this season. >> what was discovered? there were some fascinating data. when you -- when your team concedes and when you score. -- the heartrs rates go up to 145%, which is pretty high when you concede. .hen you score, it is 215% right on the edge. if you think about the hit that a fan gets because they are just waiting and not running around like the footballers, they are normal guys watching again. when the gol

couple did seem just fine last night, though, while they were taking in the brooklyn/mmi game at the barclay center. >>> more than 280 firefighters are battling new mexico's first major wildfire of the season. the fire has burned more than 4700 acres since it started on sunday. a break in the windy weather allowed air tankers and helicopters to join the fight. the parched state has experienced record-setting fire season during two of the last three years. meanwhile, firefighters have stopped the spread of a 2,000 acre wildfire in the texas panhandle. it forced the evacuation of about 2,000 residents. >>> so is relief on the way? let's check in now with meteorologist bill karins. >> not really. california saw the attention for their three-year long drought. but areas of new mexico and nevada and texas, everybody is starting to join the party. let's show you what happened yesterday. we started our warming trend. yesterday was a very mild day. we were all the way up to 78 in portland. 90 in los angeles. we look cool initiate vegas and phoenix. but that will change in the days ahead. temperature