failed the question is how can commerce bank possibly survive globally especially alone they probably can't is what many many experts in the financial markets are saying who can take it over there's quite a lot of candidates they are very likely is what a lot of people say is that dutch banking giant i n g might be taking over at some point and definitely the bank has already said that they're interested in that another suitor would be at least we can get it but it is unlikely actually that that's a good idea and that even the german government to us we heard part of commerce about would be behind such a deal because it is considered quite risky because when he cut it's just like come out spunk holds a lot of italian debt so there could be a lot more problems rising up there and is a foreign takeover the only way forward for comments by well it is a somewhat likely way until that happens of course the bank is standing alone and they have to see what they can do to improve their performance so one thing of course is digitalisation the bank is talking a lot about how to get better in di

approach with commerce bank? >> ramping up to 2020, it's all about digitalization because digitalization changes interaction with customers and allows us to materially optimize our branch network that is basically what people are doing. we are not looking at any acquisition. it just brings on another series of branches and that is not our focus. our focus is digitalization, so no acquisitions. >> so putting it all together, the operational performance at bnp this quarter was an improvement versus what we've seen recently on the strategic front, the cfo retains a stance that m & a is not on the agenda, they're not interested in acquisitions at this point, trying to dispel those 2020 targets remain in tact long way to go in capital, 11.7% at the moment. they're trying to reach that 12% mark cfo remains confident that is a realistic ambition back to you. >> juliana live in paris, thank you for joining us in paris there. >>> final word on the banking sector, coming up later on today, my colleagues in the u.s. will sp

shortly thereafter he opened the first international bank of commerce bank facility in comman ron county in 1984. a champion of education -- mman ron county -- cameron county in 1983. a champion of education, he and his family established the first scholarship endowment now the university of texas rio grande valley. to frances arried hill for 48 years. he has two children and two grandchildren. fred and francis have been highly active in the community throughout the years and blessed to call brownsville home. i thank you for the opportunity to honor frederick william rustererers isberg, making him a role moodle for the citizens of brownsville, and i'm confident he'll guide south texas. i ask my colleagues, family and friends in commending his life of service. the speaker pro tempore: the gentleman's time has expired. for what reason does the gentleman from south carolina seek recognition? mr. wilson: unanimous consent to address the house for one minute. rerned my remarks. -- revise and extend my remarks. the speaker pro tempore: without objection, the gentleman is recognized for one min

right and we know we alluded to that and show but this failed merger with commerce bank it was fairly major can you can you give us some more detail on that. the absolutely i mean this is a big part of the whole of question this was supposed to be earth shattering and positive when it went into the other direction and this happened just weeks ago that these talks when under and you're looking at germany's two largest by banks merging not only would that have been to these two banks that are suffering we're not only for them would that have been great news to get together and do something it would be great news for the whole banking community in europe which is quite fractured so this could have not only lived to germany this could have lifted europe as a whole but the gross integration never happened and they say the excuses here not only excuse i mean the fact of the matter it was it was written that layoffs would happen and also the mergers would have been very costly and the layoffs are something that the german public took very seriously there were protests against that the the co

we mentioned a couple of them but take us through the bright spots for commerce bank. spot really ist the fact that costs are not is not and revenue falling as much as the street may had expected. costs have remained stagnant over the last couple of years even as revenue has come down at 2.16 billion euros, it matched analyst estimates. they're able to make money and that is because they are adding 100customers, the added 23,000 private customers, 800 corporate customers, and they are lending more money. this is part of the ceos strategy to boost revenue by adding customers and trying to take market share in the german lending market. manus: good to see you this morning. bi have written a lovely piece. commerzbank has a target on its back because they are not delivering the return on tangible equity, are they, and that is the issue. where do they go from here, do they need to bulk up and do a deal with ing? matt: right now, they are saying they have a standalone strategy, they are fine-tuning and they will get the details of that after the summer so it is a long way aw

the german banking association has thrown support behind pro european parties while commerce bank had martin wilka back it into protectionist and populist tendencies. >>> uber sales fell friday meanwhile, lyft also hit something of a speed bump hitting a record low just ahead of that ipo. our colleague and tech reporter joins us now in the studio was uber's management expecting this might happen? >> there was a lot of anticipation going into this day. we had expected it for years and it turned out to just not be a great day in the market. uber's management made a point to say there's a little bit of it rated to the after frican poy it's waiting to do that for a number of years. andrew ross sorkin asked the ceo. here's how he responded. >> pricing a deal is an art, not a science, so we probably went at it imperially but we thought this reflected the environment environment is uncertain right now, and any time there's uncertainty in the market, investors are going to be a little hesitant to put 8 billion of their dollars to work we wanted to put our stock with a group of funds we know a

the ceo of this italian bank is not common adding -- commenting about the offer for commerce bank. still the ceo says this is not the right time for european blanks to complement this. this is very difficult to do in the current environment. on working focused on a new plan. booke: that is your blue business flash -- bloomberg business flash. this might be a cliche, that millennials like avocados, but is a serious issue for the u.s. right now. prices for avocados have soared this year. as you can see, it is quite the search. i think it may impact every american and their breakfast toast. you can see this chart on our show in your library. this is bloomberg. ♪ vonnie: it is time now for etf friday. firms are working with the sec to launch nontransparent etf's. this is ouruss guest. what are these nontransparent etf's? they sound scary. >> it's this umbrella of what we are calling nontransparent etf's, etf's that will not display their holdings on a daily visit as. -- all ofike this, these different reasons. be of seen a lot of demand on the issuer side for this type of thing. have

following the breakdown of takeover stocks of commerce bank. joining us now is our next guest from frankford. did anything get said in the agm that we were not anticipating? anything new? we know that they are going to have more cost cuts. this will be to the investment banks. many people were predicting this. the question mark remains. he did leave out the equities business, which many say is going to get deep cuts. what exactly is going to be tough for the investment banks and the timeframe of it? the share price didn't move off of the fact that they said they would cost more. many analysts and investors say there needs to be a massive overall investment bank. so time has to tell whether this will be enough, enough cost cuts to really boost the share price. which, clearly, shareholders here are not happy with. that was the sense everyone got sitting in the building behind me. let's talk about the chairman of the supervisory board. how much support does he have? he doesn't have a lot going into this meeting, guy. going into this meeting, share

we've been hearing from bnp, and you just started coverage on commerce bank. let's talk about whether or not -- commerzbank. let's talk about if we get consolidation in europe, who will be the consolidators, and our shareholders going to benefit if we do get consolidation in europe? >> that is a long one. clarification in europe is going to be difficult without clarification -- to [indiscernible] especially [indiscernible] after that, it is clear that as bnp, head of retail, was mentioning, the environment is a killer for profitability of the retail activities in europe, especially in germany. billy way too upset that is to look for scale, so i would say that we need growth, but how are we going to achieve it? without clarification coming from the ecb and global regulator, it is going to be quite complex. guy: you pick up the issue of negative rates. who are going to be the consolidators? who are going to be the company's consolidating if we get this, the european banking sector? is it bnp, unicredit? who is going to lead the move? thembelieve that all of are

i think it is problematic that they were not able to merge with commerce bank. and i think that there is going to be a potential problem. >> i don't know why anyone would want to own deutsche bank. there are so many banks out there. you could say selling such ridiculous back value, but clearly thit isn't clear i don't own any. >> you onts own adon't own any ? >> i haven't owned any for a while. owned citi a while ago i got out of citi pretty well actually but my play is visa. so that is not really a financial stock. it is more of a consumer growth stock. >> that quality momentum stock >> it is not momentum at all >> quality momentum name we were talking about. glad you revisited that. >> my pleasure but i just think you might as well own a bond proxy. but you that is all they are >> i'm going to read an email that somebody sent me. they will main remain nameless visa is a momentum stock and is the 10th largest holding in the i shares edge momentum factor etf. momentum calculated against either relative or absolute greatest >> tell that guy needs to get back to t

with deutsche bank and commerce bank we saw that was -- commerzbank we saw that was not the case. emerging markets are where we are seeing a lot of equity discussed. matt: thank you very much. --you are a terminal does terminal subscriber, you can check out the latest m&a news. looking or will be looking at, in just moments, live pictures of the ukrainian presidential inauguration where the former comedienne that has been elected was just sworn in and has called for snap elections for the parliament. ♪ ♪ >> the top tech firms cut off suppliers, critical software components amid crackdowns, since companies tumbling. oil jumps. opec signals they will keep supplies constrained as u.s. tensions with iran ramp-up. and a polarized europe. bracing for a snap election of a scandal. meanwhile, angela merkel says voters have a stark choice to make as europe heads to the polls. ♪ >> welcome to "bloomberg surveillance." good morning in the

commerce bank. what will be the consolidation -- catalyst? elisa: you will hear from investors and analysts, the the regulatory hurdles remain unchanged. while it may be a good idea in theory for bnp to buy insuredank, without an deposit scheme that likely will not happen. --hink on the cost cross-border level, we are where we were. excitement led to speculation about unicredit or ig looking at commerzbank. francine: if you talk about a catalyst that could be on share prices for a lot of these banks, or consolidation, we are talking about sharing now -- tearing -- tiering. andreas: we have already seen the damage quantitative easing has done and for banks to be enabling earnings growth, i am not sure that a sensible. it is a combination of things, better than expected european results could help. returns on equity are expected to be 8% next year. if we get that surprise on the upside, confirmation the cycle will be a little longer. are baking in some maturation of microeconomic policy, which will no

commerce bank just told our matt -- commerzbank told our matthew miller of a desire to find revenue. is it an immediate moment that europe needs to confront negative interest rates? mr. dombrovskis: first and foremost, i must respond institutionally because as the european commission, we expect -- respect the european central bank to set the base rates. the current policy of the ecb which is gradual normalization of monetary policy, but i cannot go much beyond that. francine: we have a lot of questions and we want to come to brexit and a second, but let me dayabout iran, the 60 nuclear countdown unless europe delivers trade. how will europe react? mr. dombrovskis: indeed, we have a concern about this solicitation first and foremost. we are opposing the u.s. unilateral move out of the nuclear deal with iran. they are going for further escalation of sanctions and they announced withdrawal with the nuclear deal. this is a cause of concern for europe. closely andwing it we are in touch with stakeholders. it has been confirmed a number of times by international institutions, monetary and

thrilled to have michael a blackrock and peter of commerce bank. the markets are extraordinary over the last 72 hours. i go right to the two-year yield on the bloomberg terminal. 101 isixon, textbook currencies will compensate for in rate tradeion and international economics. should i have optimism that currencies will adjust to a better solution? >> i think that would be stretching it too far. the currency market is likely to remain relatively volatile. you see a rise in volatility but you are not seeing massive volatility. --n equity markets >> may be, michael, it is how we are has said what we are hedged against instability. your experience at black rock, what does the left tail look like? are people in control of their risks or hedges or are they not? >> good question. on a generalt level is probably too difficult. we alwayserspective try to build very diversified and robust portfolios. we are using some currency options that up until three or four weeks ago, despite the headlines on potential risk, currency volatilities were very cheap. i agre

it was going to be commerce bank, maybe. right now it's maybe -- is it uni credito in italy could it be somebody else? the idea is that they don't stand alone, so if somebody buys them out or they merge with guyt stand alone. >> how much do you think this is a reaction to the news and donald trump the bank is not filing on the governor on him and cushnjus jad kushner. >> they level a lot of what's happening with the interest rates and environments yes, the deutsche story focuses on donald trump at some point. i am not sure if that's the primary driver for what's happening with the overall trend and deutsche >> i am wondering whether it is the ups downgrade that's moving the stock. >> it is fair to say it is both of them at the stage right now yes. the trump's story is going to be a factor in display here with deutsche stock, just put up a one year, that's kind of crazy. >> our next guest says patience through pain here to tell us what's working is chris verome. >> the normal corrections given the move off the center lows you

esther reichelt, currency strategist from commerce bank. today.eciate your time still ahead, part of our exquisite interview with the founder and ceo of huawei, the chinese telecom banned by president trump. he strikes a defiant tone in the face of the ongoing trade war. trump, then,ore with whom can he negotiate? if he calls me, i may not answer. ♪ ♪ matt: live from berlin, i am matt miller. this is bloomberg markets. markets that are open, it is a holiday in the u k and the u.s.. we check on the markets with dani berger. dani: markets in europe are higher. the au elections were the center parties did not do well. but what is really sustaining the gains here are what is happening in the auto sector, up more than 1.5%. fiat chrysler proposing and merger with renault. both companies shares moving a lot higher, helping the sector. s&p futures little changed with the cash trading closed. looking at currencies, we are seeing the pound weakening a bit, losing some of its gains that we saw monday, after theresa may put in her resignation. u.k

you think about security, obviously banking is a big target, so all the major banks use akamai commerce companies care a lot about security you don't at first think about it with media but we're seeing large-scale theft of video accounts, gaming accounts. you're playing in a game and racked up some nice, you know, things, toys, weapons, whatever and those are getting stolen and the -- >> stealing your actual digital stuff? >> they sell it because it has monetary value your ott accounts, people are stealing those and, you know, monetizing it on a large-scale basis. media companies increasingly care about account takeover and security. >> in terms of 5g, it's a conversation we have a lot on this show. greater connectivity, greater speeds, but also it seems greater security implications. do you think infrastructure and the way companies are thinking about the deployment of 5g is going far enough >> 5g is great for akamai's business first it creates a lot of demand, as you get more last mile capacity, more people are going to watch more, play more games, do more transactions over the 5g net

and body in which emberg they'll be far less overlap of branches as far as branches a concern because commerce where branches are all across germany and they'll be far less overlap but selling a deal that dies a german bank debt laden italy would be difficult in berlin a consolidation away sounds great to the investors what about the unions the unions the unions cut of the previous dealer that could have happened with such a bang this time around they're going to even pause a stiffer there's a stance that's because they don't want the german that german bank to actually be taken or by italian and italian banks it's about national pride and also the fact that they've indicated that they would be more amenable to a foreign bank buying a german bank but shifting its headquarters to germany and that is something i from the from the netherlands has already indicated as a transponder for us in frankfurt. you allegations are coming to light there for the grounding of boeing 737 max 8 according to information obtained by the new york times pilots from american airlines raised safety concerns with boei

the bank of commerce may have granted a 90-day reprieve for huawei. the temporary license does not lift restrictions on future huawei items. according to analysts, this makes huawei phones technically unsellable in? it's -- in western markets. the vice president of client devices, research joins us now from a group. pretty colorful remarks. only one affected by these decisions -- the blast radius about huawei supplies is pretty wide. you can see three of them slumping on the troubles of huawei, and i think huawei has something like 310 suppliers, most of them weaker as a result. how do you organize a supply chain like that? >> yes, and it is not easy, right question mark as you pointed out, a lot of the suppliers are american. -- yes, and it is not easy, right? out, a lot ofnted the suppliers are american. it is not easy. you look at like radiofrequency front end parts, or as mentioned earlier, when it comes to even software and google, right? huawei has been saying they have o.s.heir own homegrown that is ready to go, but it does not do them that muc

commerce department failed to reach an agreement with mexico on tomato imports. the commerce secretary says the united states has withdrawn to protect tomato growers from ers say we should expect a 70% price jump on tomatoes at the grocery store in just the coming weeks. >>> san francisco city leaders are moving forward with the proposal to ban the use of facial recognition software by police and other city agencies. oakland is considering a similar ordinance as well, although the city is still studying it.>> san francisco would be the first city in the country to enact such an ordinance.>> we are all for good policing but none of us want to live in a police state.>> that is the board supervisor, proposing what he calls the survthat would the use of facial recognition technology. >> san francisco would be the first city in the country to do so, although it is not the only bay area city considering it. they also touch on what private companies do with collect.>> both ordinances view data sharing arrangements, and under both of our proposals for introducing the sam

banks, corporations, and land barons prayed on disempowered people as far back as commerce and rental housing began. environmental considerations did not even fit into business decisions as toxins contaminated our lands, poured into our water, polluted the air we breathe. health care had not been treated as a right to which all people are entitled. life became complex over the past century. new concerns arose. problems intensified. that brings us to today. you are moving onward to your next chapter in a rather precarious time in our history. as i'm sure you know, things have not been going too well. they have been going a bit haywire recently. this is a time when stock markets are reaching new heights, but many american families do not feel the benefits and many are still contending with the damage done by the great recession that hit hard a decade ago. many people who finally have health insurance through obamacare are at risk of losing it due to the attorney general's ambition to eliminate the entire law, including coverage of pre-existing conditions. division and discord is amplifi

of our commerce investment managers told us corporations have vested interests. the attitude of the big corporations banks has always been the same of course they have 3 but in this mis european environment it's not a surprise to me that they are actively and strongly supporting the pro european view as they have the better large network network and they use they use it no leverage in it in order to bring up their policies their policies they like the most many of these issues as we know underestimated or even ignored just like europe and by these large corporations there are real issues that europe and these large corporations need to be to god and didn't respond to you know they come up with some ok europe is not is not perfect about you know there is something to fix where there is a lot to fix. there is a lot to fix because they have moved too much forward into a project without taking into consideration the illegitimately issues raised by the population of the race do you picked the democratic nomination for the 2020 us presidential election is well underway

of our commerce investment managers told us large corporations have vested interests. the attitude of the big corporations banks has always been the same of course they have 3 but in this in this european environment it's not a surprise to me that they are actively and strongly supporting busy the pro european view as they have a very large network network and they use they use it no leverage in it in order to bring up their policies the policies they like the most many of the shoes as we know underestimated or even ignored by europe and by these large corporations there are real issues that europe and this large corporation even gotten didn't respond to you know they come up with some ok europe is not is not perfect about you know there is something to fix there is a lot to fix there is a lot to fix because they have moved too much forwards into a project without taking into consideration the legitimate issues that arise by the population. it seems like the specter of russian meddling is set to hang over the 2020 us presidential election as well democratic hopeful tol

currency policies to get vantage of american workers and businesses that this notice, victoria, by the commerce department, says it would defer to the treasury department in determining whether any currencies have been deemed undervalued and it also specifically says the movie is not aimed at any central—bank action that results in currency swings and according to people familiar with the administration's internal deliberations, this move to include the new currency tool has been pushed by mr ross and white house trade advisor peter navarro since the early days of the trump presidency and this latest initiative could also ramp up, victoria, the pressure on china to compromise with the united states on a trade agreement. —— trump. victoria. thank you. now let's brief you on some other business stories. what might be the retaliation? china may have tested its nuclear option in the trade war, we are talking about government bonds, it sold $20 billion worth of us government bonds in march and if china sold its $1.2 trillion in us treasuries, it could raise borrowing costs in america, weakened

at least 500 could go within global banking and markets. hsbc'sn flint is pushing top managers to cut costs. the bank cut targets to increase revenues by more than it increased expenses. fedex is bowing to the surge in e-commerce volume, moving to seven delivery days a week in the u.s. by january of next year. fedex will also boost its ability to handle larger packages. company earnings have been pressured as e,'s increases residential deliveries -- as e-commerce increases residential deliveries. that is your latest bloomberg business flash. checking europe's markets now, about four minutes to the close, most indices are higher. the ftse has been the outlier all day. utilities the worst performer in italy, and the government faces off against itself and against the european union. this is bloomberg. ♪ vonnie: stocks finishing up the day in european trading. most in europe are higher. the exception seems to be in a late, which is down -- seems to be italy, which is down a fraction. the cac 40 in paris doing better than it did earlier in th

trade with cuba have an adox corporation and heavier garcia bank of china. separately filed suits against carnival cruise lines in a federal court in miami the plaintiffs allege that carnival profits from the use of expropriated properties when the cruise lines ship ships docked in cuba the trump administration enabled the lawsuits with the recent move by secretary of state mike pompei o to apply the previously waived title three of the helms burton regime change law aimed at cuba helms burton was signed by president clinton in one thousand nine hundred five an expert say billions of dollars in litigation could result from mr palm pails and to the waiver of the title of title three the implementation of the controversial provision of helms burton is just the latest effort by the trumpet ministration to fully reverse moves towards diplomatic normality be. in the u.s. and cuba under president barack obama. australia is the new battlefront as taxi drivers in that country go head to head in the courts against the san francisco based right here when company alex

withdraws its embassy and calls you a star from iraq citing an alleged threat from iran banks forcing. president putin thinks the more cautious approach to iran those 3 days of high profile talks wrapped up in southern russia would keep global conflicts in the spotlight. the u.s. department of commerce has the chinese tech giant huawei on the trade block list after president trump signs an executive order by the use of equipment that poses and alleged security risks. to the u.s. attorney general investigates they did legality of evidence used in the russia trump collusion price. back in and now up with the latest headlines.

i think global companies have focused on diversity perhaps ahead of others dust standard chartered bank, we are inherently diverse, all these different countries around the world and it is embedded in our commerce statement. but here in london, it has rocketed up the agenda. when i first joined london first i went and talked all the member chief executives and not one actually volunteered diversity or gender equality as a major issue. they were concerned about. this year, they were all talking about it, so a lot has changed and what is that come the requirements to publisher stats -- publish your stats. of course, warm words are not enough, and that is what we will be talking about today at the summit, how to turn this into action. anna: do we need quotas? jasmine: i think what we have seen is that asking companies to disclose and set their own targets and then report in an accountable way does seem to be making a difference. quotas, theyith sound appealing on the surface, but they can have unintended consequences. for example, quotas for the boards, noneen on executives can suck women

this is banking reimagined. so, every day, we put our latest technology and unrivaled network to work. the united states postal servicmakes more e-commerce deliveries to homes than anyone else in the country. e-commerce deliveries to homes the type of person who would never leagoode.one hanging...us is the same type of person wi who have your back throughout the entire car buying or selling experience, pe because helping le is what carmax people are all about. alright, here's another tough one. keep or toss? ♪ ♪ sometimes, humans are boring. long-lasting, paw-rocking wonder bones are not. new from milk-bone. >>> as the summer driving season approaches, car-shares apps provide cheap and easy travel options for thousds hitting the roads. one such app is called the airbnb of cars. >> i hadn't heard about this. allowing just about anybody to rent out their personal car for quick cash. growing in popularity. the car rent's giants are not fans. claiming it's not a fair fight. nbc's jegeoff bennett is in washington

and then after that, the banks' regulators downgraded the loans to manafort. but he came close. and he was part of the counsel of economic advisers, as you point out. >> that was amazing. >> focus on defense, a defense attorney. >> julia thank you. julia ainsley for us. >>> wall street's having a rough morning. it's bracing for some bad news this weekend. the dow is down each week for the past month and unless it rallies back up to a number, 25,764 by closing on friday, this will be the first time since 2011 that the index has seen five straight weeks of net losses. in other words, each week for the last five weeks, the dow will have ended lower than it started. so you can see there, we're -- that would have to be about a 500-point gain from where we aro perspective, oh, my goodness, we have a market shock, is this a recession, the market is moving like this because of the the trade war. so this isn't a market negative. >> correct. >> the president has made a move that artificially impacts the market. and maybe for the time being, it's the right move, if you reach the president'

so those pictures coming to us from the ministry of commerce over in china. several failed turnaround plans, several new ceos, and falling shares prices means a difficult few years for deutsche bank. investors are directing anger at the man who has been there all along. bloomberg sources say they have discussed pushing for his exit, setting the agm to be a tense affair. joining us from frankfurt is annmarie hordern. good morning, it seems noisy behind you. what can we expect today? annmarie: lots of protesters behind me, anna. you can see shareholders making their way through me. , share prices at deutsche bank are at a record low this morning. more pressure is mounting on the supervisory board and the chair. the agm is set to kick off in just 25 minutes. said, shareholders, including the qatari royal family, are getting frustrated with the chairman and wants to see him leave before his term expires. on top of that, regulators are saying the bank would be better off without paul act letter -- paul ackliner as the chair. we rarely see this and it shows the dep

withdraws its embassy and calls you a star from iraq citing an alleged threat from iran banks forcing. president putin thinks the more cautious approach to iran those 3 days of high profile talks wrapped up in southern russia would keep global conflicts in the spotlight. the u.s. department of commerce puts the chinese tech giant huawei on the trade block list after president trump signs an executive order banning the use of equipment of poses and the alleged security risks. and the u.s. attorney general investigates the legality of evidence used in the russia trump clues and. are back in an hour with the latest headlines. you know i'm max kaiser yeah we're at the magic of the conference in new york city incredibly exciting here as the bull market has returned krypto winter apparently over new all time highs for big going now inside my interim target of 28000 looks still in play and are a long term target from 2011 of 100000 still good now stacy when we flew here it was dramatic and it was unbelievable experience because it was covered by the international press the new york post the

withdraws its embassy on closer stuff from iraq fighting alleged threats from iran banks forces. president putin 6 a more cautious approach to iran as 3 days of high profile talks right up and stubborn worship would keep global conflicts in the spotlight. the u.s. department of commerce puts the chinese tech giant huawei on a trade blacklist after president trump signs an executive order banning the use of equipment that poses then ledge security risks to. the u.s. attorney general investigates the legality of the evidence used in the russia trial pollution program. to. a very warm welcome to you watching our c international with me thinking aaron . the u.s. government has ordered all non-emergency staff to leave iraq over an alleged threats coming from forces controlled by iran earlier we discussed the alleged iranian threat without his ana hawkins. seems now although that he's have reached new heights the u.s. has issued a security alert all its non-emergency personnel in iraq asking them to immediately depart from the u.s. embassy in baghdad and from the consulate bill that's

commerce. revenues through march fell for the night straight quarter. shares are worth less than half their value five years ago. deutsche's is focused on cost cutting, but citigroup is calling for a more radical restructuring, including potential exit from the u.s. market. >> -- paul: investors were underwhelmed by the largest dividend on record worried before the market opened, the company aimed to raise the pay out by "at least a high single-digit percentage." analysts characterized the plan as rather than revolutionary. caterpillar has slumped for concern about demand. taylor: movie fans have been flocking to see the epic finale of the marvel franchise "avengers: endgame," which rewrote box office records. joe and end of russo joined bloomberg to discuss the movie's success and importance on the international markets. >> we travel with these films and promote them. we pay attention to each and every market. china is a market that we have a lot of connection with. we started in partnership w

banks were down yesterday. it is a different story today. the s&p 500 is rallying 1% on this escalation of trade war rhetoric. huawei has been put on the blacklist as the department of commerce. the dow is up .9%. up 1.2% right now. ♪ in europe, we have a rally. the euro stoxx 50 up. the ftse is up .5%. the cac 40 is up. one of the better performers up ones germany come point 4%. information technology is higher here. this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn. guy: and in london i'm guy johnson. this is "bloomberg markets." >> hallway says they will -- who while way -- huwawei says they who isrk the u.s., concerned that beijing has been spying. meanwhile president trump will give the eu six months to agree to a limit on car sales in the u.s. that is according to a draft order from bloomberg. the administration has theseined that imports of cars to the u.s. are a threat to national security, have hurt domestic automakers and their ability to invest in new technology. al de blasio has joined crowded field of contend

this is banking reimagined. what's in your wallet? so, every day, we put our latest technology and unrivaled network to work. the united states postal service makes more e-commerce deliveries to homes than anyone else in the country. e-commerce deliveries to homes the type of person who would never leagood hustle.nging... is the same type of person who will have your back throughout the entire car buying or selling experience, because helping people is what carmax people are all about. alright, here's another tough one. keep or toss? ♪ ♪ sometimes, humans are boring. long-lasting, paw-rocking wonder bones are not. new from milk-bone. >>> as the summer driving season approaches, car sharing apps provide a cheap and easy option for the thousands of people hitting the roads. one such app is being called the air bnb of cars. >> i hasndn't heard about this. this allows people to rent out their car for cash. the car rental giants as you can imagine are not fans of this. they claim it's not a fair fight. nbc's geoff bennett is in washing

today people rely on base line internet access for banking, find a job, do their homework, communicate with their doctor or other health care provider, communicate with their loved ones, petition their government, and so much more. yet many americans still do not have reliable, high speed internet service at home. while a number of valuable federal broadband initiatives exist, they are side of the aisle heoed in different ed ncies and -- they are silo in different agencies. as a result, the process can be confusing. h.r. 1328, the advancing critical can connectivity expanse service, small business resources opportunities access and databased on assessed need and demand or access broadband act would establish a coordinating office. it would hold regional workshops to share best practices and steages for supporting local business and community leaders interested in expanding broadband access and its adoption. our bill with would also direct the office of internet connectivity and growth to consult with any agency offering a federal broadband support to streamline the application process

they are the first central bank in the developed world to begin loosening policy. they say it will remain until mid-2021. president trump has used the same tax breaks as amazon, despite his criticism of the e-commerce giant for not paying its fair share. for a decade, the president paid nothing, or very little, if federal income tax. that is according to records obtained by the new york times. it reports he racked up over $1 billion worth of losses. south africa has to the polls today. assets are signaling increasing investor anxiety. for a stronging mandate to push through fiscal policy reforms but faces oppositions from factions within his own party. this year also marks the 25th anniversary of the first democratic postapartheid elections in 1994. global news, 24 hours a day on air and on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. and i have met -- anna and matt. anna: thank you. european stocks arch -- are mixed of this morning. -- ar emixed this morning. the markets are not expecting any immediate

. >> air asia talking to partners to build a trendy e-commerce app. earn $2.40 -- billion a year from current engines and expect to earn more. tony fernandez says the market will triple by 2025. >> united overseas bank is ceo told- the bloomberg they will become a safe haven. planning to use digital technology and artificial intelligence to expand in the region rather than acquisitions. this approach differs from rivals. lenders as hong kong a gateway to china. >> pimco chief investment officer says he expects more volatility and lower returns over the longer term. told bloombergr it is a punching market right now. that means being patient and striking during bouts of volatility. >> by far, the area of most concern is the credit market. related to corporate credit risk. are gettinge we more concerned about fundamentals. >> with the population rising, government working on a plan to open a world underground let's go to singapore. let's put it in perspective. singapore is way small. the u.s. is 13,000 times bigger than the lion city. let's speak to the

just over 50 15 years in finance and banking. richard benville is a proud resident of 30 years of gnome a -- nome and it's mayor. he is also vice president of the nome chamber of commerce, just vice president? the leadership committee, the nome community center, and nome arts council. and ocean and founder of nome discovery tourism also in it's 30th year. and he considers the high arctic his hope. so without further adieu, we'll ask each of our panelists to provide just eight to ten mints, a broad overview of their interesting in the arctic. please feel agree to the podium or sit in your seats after which we'll have a q and a. thank you. >> thank you, helen. thank you so much, good morning, everybody, happy infrastructure week. i'm sarah harrison, and i am working with the cmts to project hour vessel traffic is expected to change in the next decade out to the year 2030. the cmts first became engaged in predicting the activity in 2015. it is available on our website cmts.gov. the document used activity has measured by ais data tog

deutsche bank is reportedly considering options including a capital increase as part of a wider overhaul. investors for fresh cash, that is the least favorite option. management is aware it could trigger a backlash and lower the stock price. that is your bloomberg business flash. manus: thank you, debra mao there. in the united states they have approached levels we have not seen since october, 2017 after meaningful -- after a lack of meaningful progress in a trade talks. -- there is a raft of u.s. data in core pce due later this week. laurence mutkin, global head of g10 strategy, bnp paribas. we are seeing momentum, this wave of money moving to treasuries, and breaking below the 200 day average. iss is where the market beginning to say, are we moving into a new leg lower in treasuries? i look at the data and see the shorts are beginning to pile back in here. who is right, fast money or smart money? andence: i think fast money smart money must be the same. the reason the treasury market manages to defy gravity is because in a funny way we are looking through the lens of other markets, and

manus: let's talk about the trade banks. president trump must differing approaches to two of his top concerns. the white house has moved to curve the access to the long way to the u.s. market three of the department of commerce is it put the tech giant on a blacklist. the eu and japan have been giving six-month grace that given six months grace to reach a deal that would restrict or limit auto imports and it -- in return,s. the u.s. would deal a new tariffs. jodi schneider joins us. what are the specifics of this executive order? what could that mean for the companies involved? bmw lord higher on this news yesterday. jodi: the executive order would ztet or block huawei and from selling equipment in the u.s.. after that order the commerce department confirmed it had put huawei on what it calls a blacklist that would not allow it to do business in the u.s. so combined, those moves really in terms with a can doing business in the u.s.. we saw last year when cte had similar action taken against it. it must had to shut down and p

the administration came in saying they wanted to deregulate, especially for small and medium size banks. did that happen? >> i would answer that in two ways one, there hasn't been any major deregulation it's not like dodd frank has been reneged on or pulled back there have been some changes in regulation like the bill last year but what's more important than changing regulation is actually the attitude of regulatory bodies toward businesses, toward the private capital. and that has changed and that is much more reasonable i would say the expectations from regulators were from the banks they're regulating haven't changed much but the way they're engaging with banks has changed for the positive in a very material way and that's good news >> just a quick question on how these guys are trading, regional versus the big banks >> regionals usually outperform. raj talked about it with m&a it's usually because m&a premium, they're only outperforming by about 1% right now. so something's got to give, something's got to take. i believe the xls, the bigger money center banks probably have to come i

commerce looks strong enough at this point in time. and you have got the r.b.i. policy in the first week of juen. that will lend some support to what happens to the equity markets in the bond markets. are at the lowest since april 2018. rishaad: entertainment, the numbers onot exactly impressive. what was the story? : numbers came in slightly below expectations that management says it is due to increased programming and the expansion of digital content they invested in. aside from that, -- weighed on the profitability number that still grew by 27%. fy20 guidance suggested the advertising growth is likely to do better than that. in terms of subscriber additions that will revisit. the biggest story is what is happening with the deal. the promote is a looking to sell some stake in zee entertainment. the stock unfollowed because of the number of the share issues ahead. it has come off of the lows. still, they have said that the agreements will happen in july and that is the time that will be watching crucially for what happens to see. rishaad: thank you. from bloombe

you know, we're the piggy bank that everybody steals from, including china. >> talks resume today. beijing is vowing retaliation ministry of commerce issuing a statement regrets have to takes necessary counter measures. unclear what those counter measures will look like. president trump has threatened additional tariffs on $325 billion of chinese imports. this as tensions rise with north korea for the second time in a week. the rogue nation launched two short range missiles traveling 260 and 170 miles respectively. the u.s. responding within minutes. firing a long range missile from a base in california traveling 4200 miles into the pacific. and another fired from a submarine off the coast of florida. officials say the timing was coincidental. and acting defense secretary patrick shanahan down played the provocation. >> we know what they fired i think hold off on talking about what it is. we will stick to our diplomacy. as you all know we haven't changed our operations or our posture continue the generate the readiness we need in case diplomacy fails. >> u.s. announced a seizure of

richard also serves as a board member of the alaska state chamber of commerce and vice president of the nome chamber of commerce. just vice president, mr. mayor? >> 25 years. >> the bearing strait leadership community, nome arts council. the mayor is also an active member in the alaska travel industry. and association and founder of nome discovery tours also in its 30th year. in november he will assume the chairmanship of alaska's municipal leagues of alaska's mayor association and he considers the high arctic his home. without further adieu, we'll ask each of our panelists to provide 8 to 10 minutes broad overview of their work and interests in the u.s. arctic. please feel free to go either to the podium or sit at your seat after which we'll have a q&a. thank you. >> thank you, helen. thank you, jia, with the slides. thank you so much. and good morning, everybody. happy infrastructure week. my name is sarah harrison and i am working with the cmts to project how vessel traffic is expected to change over the next decade throughout the year 2030. the cmts first became engaged in projectin