it cites five current and former deutsche bank employees. it also cites by name a woman who was a money laundering specialist. she was she said terminated last year after she raised concerns. the term politically exposed persons is a legal term and a regulatory term that's used to identify people who are supposed to get extra scrutiny, extra vetting from financial institutions as a way of rooting out corruption and bribery and money laundering and all the other things that tend to swarm like gnats around people that are around government power. tammy mcfadden says she was fired by deutsche bank after she raised concerns about how that bank was handling its high-profile clients and politically exposed persons and how it was deal with and specifically kaboshing red flags raised by professional staff when they saw signs of potential money laundering and other crimes. when it comes to the president's accounts and the kushner accounts, what she and the other deutsche bank employees are telling "the times" is pretty hair raising. quote, suspicious

unit of deutsche bank in new york. this is for donald trump a really serious problem. >> and again, this reporting's not necessarily say specifically in anything was done incorrectly or illegally at this moment. they're just saying suspicious, elicit alerts from the bank. david, you said there were cases in the past? david, there were some cases in the path where donald trump was involved in money laundering and prosecuted for this? >> no. he paid fines. the trump taj mahal casino involved in money laundering for years and he was fined for it and i wrote in my 1992 book "temples of chance" about a curious deal involving $50,000 and one of the seven biggest gamblers in the world at trump plaza and while this is not a definitive finding, it certainly gives grounds for investigation by congress into what's going on with not turning over to the financial crimes enforcement center activity indicating suspicious movements of money by trump and notice it includes 2017 when he's president. >> when he is president. that's corre

facing deutsche bank. of thebeen the dream chair, but under him, we see the stock off from 70%. it has been to three management changes or do they want what many shareholders wanted, and overhaul of the investment bank? with the ceo said will be coming in terms of cutbacks to the investment bank. they will change it more radically and more quickly. bank is what has been endorsed by deutsche bank. is the least profitable among deutsche bank's three divisions. he said three things would be off-limits. foreign-exchange, global credit-rating -- trading. he did not mention equities business. the big question now is, what is the timeframe for all of this? when and where were the big cuts coming from? the even cut things like the bankers taking first class tickets. where are these cost cuts really coming from? by contracting revenue. how do you do all of these things at the same time? francine: thank you so much. turnage trade, beijing is denouncing u.s. actions as the trump administration debates whether to blac

, including on deutsche bank. those experts at deutsche apparently were overruled by senior private wealth division officials, state regulators, house financial service committee subpoenas no matter how aggressive or effective those subpoenas to deutsche bank, none of them can get at suspicious activity reports that are never filed, obviously, that are effectively quashed within the bank, never conveyed to the experts at finsen, in treasure tri department, and the financial watchdogs that are supposed to assess these transactions. compliance officials described a pattern at deutsche of efforts like that to reject s.a.r. filings for lucrative clients. we need to get to the bottom of what happened here. everyone has to follow anti-money laundering rules and laws, even deutsche bank, even u.s. regulators who tend to cover for deutsche bank. you don't get an exemption if you have a rich and powerful client. we have to hold financial institutions accountable if they break the rules. we have written to deutsche bank ceo

let's look at deutsche bank. here is a 10 day chart. what is important is there is a convexity and acceleration to the downside, right now trying to hold it at 6.61. that is a euro-chart based as well. much more to talk about on "bloomberg surveillance" through the day and through the week. europeang towards elections thursday. much more going on in washington. and futures, -18. stay with us. this is bloomberg. ♪ ♪ president trump threatens iran. saudis say they don't want a war. a tech cold war. companies stop selling software to huawei as president trump says he's "very happy" with the trade war. and elections from india to australia have one thing in common. prime minister narendra modhi could retain power. david: welcome to "bloomberg after the lastay episode of "game of thrones," which we are not telling you about. alix: no spoilers. it's going to be ok because i've not seen it. david doesn't care, but i didn't see it. no spoilers. can i make it 24 hours without knowing anything? i think it's possible. david: the question is wh

there's been interest at deutsche bank. there was also a story about deutsche bank asset manager potentially tying up with ubs asset manager and the banks discuss this. that is the big surprise. however, this was only a very preliminary stage. it was abandoned. they only disgusted briefly and it did not happen. vonnie: why not? how many barriers were there to that happening was a regulation question, a price question, a valuation question? steven: i think it was all of the above. i am not sure what the deal breaker was. in european banking m&a's there are big regulatory hurdles. there's also the question for deutsche bank investors, do i want to merge with another bank. deutsche bank stock is trading at an all-time low. price-to-book ratio is extremely low for the bank. that is another thing. the leadership issue, all of those questions would have been extremely difficult to solve. they all play a role. vonnie: it would've been a powerhouse if it had happened. it is a very attractive proposition to think big instead of smal

want deutsche bank. alix: the euro-dollar is trading around the low range, after pmi's did not really go anywhere. joining us is city managing director and chief global fordham.tina what will be at stake during parliamentary elections, given the backdrop of lower growth and the trade war? tina: well, we are the headline will be after that he you parliamentary elections, it has pretty much are ready been written, that will be that the vote share of populist parties in europe will have gone up relative to the last parliamentary elections. that is the reason why most of the questions i am getting from investors right now are whether the rising populism will somehow undermine the functioning or even break up europe. but there are more steaks than that. alix: but that is a lot of stakes too. what are you telling investors, and what is worse than that? tina: what is worse than of morelists getting votes, it would be progress toward undermining the cohesion of the union over all. what is more at stake is the fu

does deutsche bank's reputation matter to the people with power inside deutsche bank or does access to donald trump and his business empire matter more? >> i think at this point reputation matters greatly to them. i feel obligated to mention that none of the material i've seen, i've spent more than a year investigating this, suggests that russia has infiltrated the bank or there's some kind of conscious effort to help donald trump through funneling russian money to them. but i think the bank is in a mad scramble to salvage its reputation. it's been banged up but repeated regulatory scandals and financial scandals. they're hoping by cooperating with congress now they can begin to repair some of the damage. >> everyone that gets in needine minimum. david your reporting is great, we're glad to ha keeps getting schooled on the world stage? his former secretary of state tells all on capitol hill. that's next. e tells all on capitol hill. that's next. from finding out what's selling best... to managing your fleet... to collaborating remotely with your teams. giving you a nice big edge over y

your bank, goldman sachs, and deutsche bank. he knew the financial system of europe was the glue that would bind europe beyond world war ii. do we still need that glue, and how do you keep the european finance and banking system together as it has prospered for the last half of century -- half a century? mr. barroso: it is a work in progress. it has been taking too long during the financial crisis, and as a reaction, we made some progress. it was my commission the put forward the proposals for the banking union -- -- banking union. mechanismesolution for the euro area, but there are two pieces of legislation that have not been approved. ofneed to be bolder in terms the creation of a capital markets union. it is a work in progress. the european union is always very reactive and sometimes they need a credence to take steps forward. it makes sense to have more financial integration. we have a common currency and a monetary union. euro.bers of the grexit did not happen, greece is still with us. we have not done enough in terms of fi

bank and currently has no operating accounts with deutsche bank. while a spokeswoman for kushner company says, "any allegations regarding deutsche bank's relationship with kushner companies which involved money laundering is completely made up and totally false." "the new york times," of course, continues to create dots that just don't connect. does that give you pause at all? what do you make of that response? >> no. neither of those responses give me a lot of pause. i mean, first of all, the -- you wouldn't expect the trump organization or the kushner companies to be aware of any of this to begin with because the banks -- banks generally wouldn't inform their customers about this. the curb any responkushner resp weren't involved in money laundering is all well and good, we weren't suggesting they were involved in mondey laundering. deutsche bank has in some ways the most credible argument here which is a lot of times employees raise concerns about transactions that turn out to be unwarranted. employees are trained to sometimes err on the side of

and potentially it's illegal for deutsche bank. so it should not be that that trump's banker had any influence on this. but "the new york times" isn't necessarily clear on that. but that's definitely something regulators should look into and they've had their eye on deutsche bank for some time. >> one of the women who spoke up, long time anti-money laundering specialist said she was fired after raising concerns. the bank says no one was fire for the raising a concern about a client, but does that smack of retaliation? >> well, it does have a whiff of retaliation to it. what she can make out in court is a different matter in the evidence would depend on what she can proffer. it looks suspicious and the on the optics aren't great. >> when it comes to deutsche banks, "the times" put it generally lacks approach to money laundering laws. lanette, can you speak to that? >> the biggest red flag here is deutsche bank has been in trouble with european regulators and the federal reserve and new york state for laundering money for prominent r

finally, deutsche bank now at an all-time low. the question here ahead of the agm, are they going to keep the chairman, is he going to be sent out of the firm? that is under focus. annmarie is live there. it will be interesting to see how that folds as the agm continues. anna: thank you so much. let's talk about a company that has reported numbers today. the stock is falling after weaker guidance from the business as it reported earnings that beat estimates. joining us now is the ceo of tate and lyle. we start with today's shareprice performance. falling in part because of the weaker guidance. were you intending to guide a little weaker for the market? nick: we have posted solid results ahead of expectations and the business is strong, especially in the food and beverage. importantly, volume growth was strong in north america. up 15% in emerging markets. guidance just reflects the company's short-term headwinds in the business. the primary products business in north america is facing a little bit weaker demand in the short term an

the title seems to include -- of deutsche bank hitting the lowest ever after a competitor bank sales fell last month, a straight quarter revenue of traction. stephen, as the decline today just investors or perhaps looking at deutsche bank and it is running out of options with management potential time-outs last week. >> that is right. the stock price has been on a declining trend for a few weeks and today is no different. in new report is out from ubs, downgrading the previous rating that contributed to the overall sector, the overall hit in terms of share prices. all of that is coming together. >> what does this do? probably doesn't have much of a domestic market but it needs good people in key positions. it will be harder and harder. >> stock options back five years ago, they keep investing. each time, they are worth less. you look to the friends and buddies and a competitor, and share prices were going up. clearly, it is obvious. the problem deutsche bank would be facing to retain talent is certainly something the share price is exacerbating. vonnie: privacy president trump all?do

the bank should have records of those. deutsche bank, of course, is a privilege. corporations don't have a right to live as you and i do. they say they are cooperating with investigators both from the state of new york and from the federal government. and we should hope that there is a thorough inquiry into this. and exactly what was going on with trump's relationship with deutsche bank which by the way has paid over $600 million in fines just for laundering money for russian oligarchs in cyprus, germany and america. >> david, thank you very much for joining us tonight. really appreciate it. >> thank you. >> when we come back, history was made this weekend when a member of congress became the very first republican to support the impeachment will have president trump. that republican was of course, immediately attacked by donald trump and already has a republican opponent pro trump republican opponent now in his next re-election campaign. that's next. thanks for the ride-along, captain! i've never been in one of these before, even though geico has been- ohhh. ooh o

this is deutsche bank. this is a statement. they have been under investigation for money laundering activities involving treasure. this is deutsche bank. we've increased our staff and enhanced our controls and take compliance very seriously. but that said, can you speak to that? what's the bank's. o. when it comes to activities like money laundering? >> right. in january of 2017 deutsche bank got hit with huge fines with regard to the russian mira trading money laundering activities they engaged in. new york state department of financial services hit deutsche bank with about a $425 million fine, and the uk's department of financial conduct also hit deutsche bank with about a $207 million fine. but that was focussed on the money laundering activities occurring in the moscow branch of deutsche bank where they traded stocks with over in london, and then the money would go out worldwide, offshore. what i like to draw viewer's attention is a $41 million fine asserted by the federal reserve against deutsche bank

time now for a quick break but hang here because when we return deutsche bank is back in the hot seat as it can face fire from shareholders over its recent scandals correspondent alex mail that takes us through what the bank may be facing just a few weeks after the collapse of its major merger plus bad news for a client as a major change has been hacked forty million dollars worth of kryptos has gone missing currently and less than one pilot doesn't delve into the details of the hike and what fits the mean for markets going forward and as we get a break here the numbers at the closing bell. after the previous stage of my career was over everyone wondered what i was going to do next. different clubs on one hand it is logical to go from fields where everything is familiar on the other i wanted a new challenge and the fresh perspective i'm used to surprising. you. i'm going to talk about football not the or else you can think i was going to do it . by the way what is it that's lying here. this is a stick from the water bottle found in the stomach of the fish the brand is sponsor of the c

president donald trump tells deutsche bank not to hand over his financial records in an attempt to block a congressional subpoena. also want to show investors by just an earnings report from apple i phone sales are down but services are off. and millionaires playground monaco want to go green and not just from all that money. under the law in berlin while the leader of the world's most powerful country is suing germany's flagship lender donald trump hopes a lawsuit will stop dortch a bank from handing over his business records to congress democrat what democrat led committees subpoenaed the documents last month betting that if the president has financial skeletons the german bank knows where their bird. the lawsuit is a trump family affair with the president's three eldest children also filing suit against georgia bank germany's leading financial institution provide a mass of loans to the trump organization when other banks were put off by the president's multiple bankruptcies. the congressional committees are interested in where the door to a bank was expecting something in return or wh

the president owed deutsche bank $300 million. we just learned that deutsche bank was experienced suspicious activity reports, they flagged behavior in the accounts of both president trump and mr. kushner that gave rise to concerns about possible money laundering, fraud and other things. quite simply, the bank did not follow proper procedure with dealing with those suspicious activity reports. >> i'm glad you brought that up. i read that article twice. i came away thinking, i can't zero in at how often these suspicious activity reports get generates and how often they get ignored as a base rate comparison to how weird this is that deutsche bank was doing this. what is your takeaway or what information do you feel like you need to have to draw a conclusion? >> two things i would say. one, that suspicius activity reports are not uncommon. what they are designed to do is be a device that triggering additional examination and investigation by the bank. here what we have been told is the bank willfully decided to ignore those suspiciou

deutsche bank help the trump organization finance multiple projects to the tune of more than two billion dollars that includes trump hotels and can see you know resorts in atlantic city the trump international hotel and tower in chicago a golf resort in miami almost a billion dollars for the avenue of the americas building in new york and the trump hotel in washington. the democrats want to know why trump and door to bank had such close ties. to their relationship with deutsche bank is that unusual why would they go into him billions of dollars he filed a lawsuit against him oh no other way would legitimately but they have done so and why was this happening i think we need to find out. the democrats are also examining whether donald trump is financially dependent on russia they believe money laundering could be involved and tortured bank may have made such transactions possible the frankfurt based lender has already handed over some financial documents regarding the u.s. president to investigators and plans to continue doing so deutsche bank said it would have bide by all court orders re

so why did deutsche bank executives apparently reject their calls to investigate? you're life in the cnn newsroom. , a color change is easy. nutrisse has 77. from our darkest blacks, to our lightest blondes. it nourishes while it colors. plus avocado, olive and shea. change a little, or a lot. nutrisse. nourished hair. better color. by garnier, naturally! forget about vacuuming for weeks. the (new) roomba i7+ with clean base automatic dirt disposal empties the roomba bin for you. so dirt is off your hands. if it's not from irobot, it's not a roomba. you wouldn't accept from any one else. why accept it from your allergy pills? flonase relieves your worst symptoms including nasal congestion, which most pills don't. flonase helps block 6 key inflammatory substances. most pills only block one. flonase. [kno♪king] ♪ memories. what we deliver by delivering. (vo) be the first to experience augmented reality that feels like reality. be first to real time with verizon 5g ultra wideband. on verizon. with advil liqui-gels, what stiff joints? what bad back? advil is... rel

to their credit deutsche bank is actually cooperating with the investigation. i think that chairman schiff will have full support from folks like myself and others in trying to enforce our subpoena, but i think that just as we saw in the oversight committee ease case with regard to the mazars accounting firm and turning over financial records, the trump administration has to realize they may try to delay the turning over of these records, but the courts have something to say about this as well, and the mazars situation, the court expedited the process by which the records might eventually be turned over to being could. similarly i hope the same occurs here with regard to the deutsche bank records. >> can i just ask, congressman, you mentioned russia. have you seen something on the committees that would imply or tell you that this is russia or are you going off the public reporting. what's your sense that have? >> are you talking about with regard to the "new york times" story? >> yes, sir. >> yes. that is what the rank and file officials said that they saw whic

first, ken, i must note, i worked at deutsche bank from 2002 to 2012. and while i never worked with the trumps, i never worked with the kushners, deutsche bank has the reputation and it is justified that it runs fast and hard. compliance is not the top priority there. and employees know, it's a firm that takes huge risks and those who take huge risks can get massive payoffs, or completely lose their shirt, but that's the way the game is played there. talk to me about how this report is different. i mean, we know president trump always had deutsche at his bank of choice. >> i think that's fornt conteim context you just provided, stephanie. and the other context is that deutsche bank has been dinged by regulators over money laundering allegations, laundering russian money. and deutsche bank lent trump and his company some $2.5 million over the years, according to the times. but what this report says is that "the times" found people who used to work for that bank who said they saw suspicious activity reports that were flagged on some trump and kushner tran

but in the deutsche bank one, this is interesting. now that the judge in the mazars case, in the accounting firm case, has decided that he's going to go fast and he's going to combine all the procedural hearings with the hearing on the merits, he's going to rule from the bench right away, now that that's happening in the mazars case, in this twin case involving the banks the intelligence committee and the financial services committee are now asking the judge in that case to do the same thing, to also go fast, to consolidate the hearing schedule, to go right to a ruling on the merits, to not allow this lawsuit basically to be used for unnecessary delay. in making that argument to the judge in the deutsche bank case, though, they also make -- excuse me. they also make the substantive case for what it is they are investigating. the congressional investigators who have given these subpoenas to deutsche bank and capital one, they substantively explain why they have subpoenaed these banks, what it is exactly about the president that they ar

his relationship with deutsche bank has gone up and down over the years. at the same time we don't know all the details and whether there are guarantees. he has 5552 llcs on his financial forms west don't know the details of that. he sow you look at this. and we argue about his tax returns. the tax returns are 5% of his financial picture. and now it turns out this story about dave enrich of the "new york times," that inside deutsche bank, at the ground level, people keep an eye out for shifty deals. file reports saying we see transactions here that look like they need more of a look from u.s. regulators. it is our job to report. they go up inside the bank and senior people say, no. >> okay. give me motive. why would the top people not want to act on what they see a shady business? >> because he's one of the best clients. because they're protecting someone. they have the discretion and these transactions are not evidence of wrongdoing of the but the whole system to prevent money laundering is based on banks first reporting what they smell as something funny

time now for a quick break but hang here because when we return deutsche bank is back in the hot seat as it can face fire from shareholders over its recent scandals correspondent alex mail and its takes us through what the bank may be facing just a few weeks after the collapse of its major merger plus bad news for a major change has been hacked forty million dollars worth of. cuts are currently at less than one doesn't delve into the details of the hike and what this could mean for declining market. and as we get a break here the numbers at the closing bell. after the previous stage of my career was over everyone wondered what i was going to do next. different clubs. home fields where everything is familiar. i wanted a new challenge and the fresh perspective i'm used to surprise. you. i'm going to talk about football not for you or else you can think i was going to go. by the way what is the. recent report from the u.k.'s foreign office highlights in detail the persecution of christians around the world in the middle east the cradle appreciated the christians face extinction. politica

but in the deutsche bank one this is interesting. now that the judge in the mazars case, in the accounting firm case, has decided that he's going to go fast and he's going to combine all the procedural hearings with the hearing on the merits, he's going to rule from the bench right away, now that that's happening in the mazars case, in this twin case involving the banks the intelligence committee and the financial services committee are now asking the judge in that case to do the same thing, to also go fast, to consolidate the hearing schedule, to go right to a ruling on the merits, to not allow this lawsuit basically to be used for unnecessary delay. in making that argument to the judge in the deutsche bank case, though, they also make -- excuse me. they also make the substantive case for what it is they are investigating. the congressional investigators who have given these subpoenas to deutsche bank and capital one, they substantively explain why they have subpoenaed these banks, what it is exactly about the president that they ar

so why did deutsche bank executives apparently reject their calls to investigate? you're live in the "cnn newsroom." shaving has been difficult for me. i have very sensitive skin, and i get ingrowing hairs. oh i love it. it's a great razor. it has that 'fence' in the middle. it gives a nice smooth shave. (vo) be the first to play console quality multi-player games on the go. be first to real time with verizon 5g ultra wideband. get the new samsung galaxy s10 5g. on verizon. is your floor's best friend. only roomba uses 2 multi-surface rubber brushes to grab and remove pet hair. and the roomba filter captures 99% of dog and cat allergens. if it's not from irobot, it's not a roomba. woman: (on phone) discover. hi. do you have a travel card? yep. our miles card. earn unlimited 1.5 miles and we'll match it at the end of your first year. nice! i'm thinking about a scuba diving trip. woman: ooh! (gasp) or not. you okay? yeah, no, i'm good. earn miles. we'll match 'em at the end of your first year. ♪ the house, kids, they're living the dream ♪ ♪ and here comes the w

deutsche bank faceces lawsui f r alleged money-laundering and interest manipulation. that costs money and hurts the bank's reputation. sarah: celebrations have kicked off to mark 70 years of germany's postwar constitution, known as the basic law. it comes into effect on this day under the supervision of the allies. now it is considered the foundation of german democracy. the main festivities took place in front of the brandenburg gate complete with cake and a whole lot of balloons. leading the celebrations was the german president, noting that his countrymen know too little about this hugely important document. all this week, dw has been looking at how people translate the basic law into every day reality. this week, we focus on the guarantee of freedom of expression. we met with someone who is originally from iraq to see how he uses these rights to say what he wants and sometimes to provoke. >> i left my country because of freedom of expression. it was always and still is very important to me to be able to express my opinion. >> on the a --h -- ahmed had to flee his

look we have brought deutsche bank back into the black we haven't reached our goal. would you go unplugged we now have the fundamentals for a sustainably profitable back carbon bank but there's a lot of work to be done the investment banking unit is enormous and it hardly makes a profit and deutsche bank faces lawsuits for allegedly money laundering and interest manipulation that costs money and hurts the banks reputation. there have a visit to hong kong you are likely to encounter joe it's the city's favorite pastime played on the streets adding gambling rooms which are often illegal the game is so much part of the city's identity officials declared it part of hong kong's cultural heritage but the games decline began almost as soon as the government made that announcement today shows just before their cell phones and video games which of course eats into my junk time i did do some traditional crafts . a master craftsman at work. king is one of hong kong's last remaining mahjong covers. he's tardy store graves every tall by hand and a normally in an era of mass produ

deutsche bank needed commerzbank so badly and for that not to happen i think was problematic deutsche bank used to be you need low cost funding, that is the shop to get the low cost funding. it was that way for 20 years as long as i was on the street. that changed in 2016 so i agree with this call. 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 goi

also on the show deutsche bank's board faces off with investors who are angry over the lenders corporate and legal woes how bad is the mood tell you how investors reacted . and the head of the european parliament elections what's on the mind of europe's youth well jobs for one will bring your report from paris. welcome to d business i'm stephen beard's in berlin thanks for joining us the boeing 737 back has been grounded for 2 months following fatal crashes in indonesia and ethiopia boeing has yet to present a critical software update to american regulators who say they'll need some time to certify the plane they're under pressure from global airlines bottom lines demand they get the plane back in the air. the boeing 737 max will remain on the tarmac until the regulator is convinced the aircraft is safe the 737 max was grounded following the ethiopian airlines crash in march just months after a similar liner disaster in indonesia in all 346 people were killed. the f.a.a. is meeting over 30 international air regulators including china the e.u. brazil and canada to discuss a software fix a

and because we have brought deutsche bank back into the black we haven't reached our goals. would you go on we now have the fundamentals for sustainably profitable back. but there's a lot of work to be done the investment banking unit is enormous and it hardly makes a profit and deutsche bank faces lawsuits for legit money laundering and interests manipulation that costs money and hurts the banks reputation. plans for a $10000000000.00 port in tanzania have stalled local officials have reportedly failed to reach an agreement with the construction firm china merchant holdings international the new port his aim to turn tanzania into a regional trade hub authorities say the project could help reduce congestion in the commercial capital. ginia has backed several such projects in africa which out of its belt road initiatives. will strategists from both sides of the atlantic a meeting in berlin to talk about doing business in africa and challenges a big so is the interest of global foreign direct investment fell last year by nearly 20 percent africa but that trend the united natio

in the can we have brought deutsche bank back into the black we haven't reached. what we now have the fundamentals for sustainably profitable back. but there's a lot of work to be done the investment banking unit is enormous and it hardly makes a profit and deutsche bank faces lawsuits for legit money laundering and interests manipulation that costs money and hurts the banks reputation. plans for a $10000000000.00 port in tanzania have stalled local officials have reportedly failed to reach an agreement with the construction firm china merchant holdings international the new port is aimed to turn tanzania into a regional trade hub authorities say the project could help reduce congestion in the commercial capital. jamie has backed several such projects in africa which one of its belt road initiatives. will strategists from both sides of the atlantic a meeting in berlin to talk about doing business in africa the challenges a big so is the interest of global foreign direct investment fell last year by nearly 20 percent africa but that trend the united nations says fo

about the deutsche bank concept. and there is a whistleblower but would a strong whistleblower provision in any money laundering legislation assist you in the department and others? >> senator, i believe it would, devil is in the details . >> i gotcha, that's all i need . >> let's go to their customer due diligence rule in effect over a year now and requires companies provide banks with information on their owners and i think that was a nice step forward but it also may be shows if you limit of the ability to have access to information. i have a number of issues i can go through but rather than talk about that, can you and ms. garner address a little bit how a federal beneficial ownership, could help complement the cdd rule? >> it supplements the cdd rule because it looks for a different kind of information from different places and it also supplements the rule by acting as a verification and you can bounce it off each other. if the information is incorrect it gives you a red flag that something may be afoot, those a

and this comes down here from what we're hearing, but please fill us in, about deutsche bank and access to financial records with donald trump and his bank. >> reporter: that's right. we have confirmed that attorneys for president trump have come to an agreement with house democrats to essentially stay the subpoena request for documents as it relates to deutsche bank and capital one. let me read you the statement that i got from jay sekulow moments ago who told me by phone, i can confirm an agreement has been reached with the house regarding a stay of subpoenas pending appeal. it has now been filed with the court. sekulow also says that the lawyers have agreed to an expedited appeal process, however adds the court will set the final schedule. that is the critical point here, that this is ultimately going to be up to the court to set the final schedule. this is the latest in this bitter back and forth between the president and his attorneys and the white house and democrats on capitol hill who have been requesting information and documents about the president's financial records, but als

here are some other business stories making news today on deutsche bank donald trump has failed in his bid to block the lender from providing financial records to democrats probing his businesses a u.s. judge said congress can demand the records as part of a larger and best a geisha into election meddling by russia the german bank reportedly lunch over to a $1000000000.00 in the last 20 years. the u.s. aviation regulator has still not received the boeing's proposed fix for the $737.00 max aircraft the models entire fleet was grounded worldwide after 2 crashes and 5 months which claimed the lives of nearly 350 people in both cases the faulty software has been blamed for boeing said it had finished making changes requested by the federal aviation administration last week. and shareholders have rejected proposals to limit an audit of the company's facial recognition service internet giant has been at the center of a heated debate over the use of the technology which critics call an invasion of privacy the proponents say the benefits outweigh any concern. brazilian group and the tour says

deutsche bank saying at no time was an investigator prevented from escalating activity identified as potentially suspicious. firurthermore furthermore, the suggestion that anyone was reassigned. president trump is going to be heading to the battle ground state of pennsylvania a little bit later on today. as you know, sometimes he takes questions before he leaves. so we are going to try to get some more from him on all of this. >> barbara mcquaid, the story suggests that the folks at deutsche bank were kept from escalating it. they got no response did they feel like action was taken. we know the president's finances are getting a closer look in new york. this shines potentially a little more light on how some of his companies, some of the cushner related companies operate. do you see dangers here for the president? >> certainly, there are red flags. congress has served a subpoena on deutsche bank to get bank record and try to get a better understanding of president trump's entanglements with russia. we know he has filed a lawsuit to prevent that disclosure. he is clearly very concerne

no other bank would lend him money and he sued deutsch bank at one point. but somehow deutsche bank has been lending him and his family huge sums of money, and at the time of his election he owed them about $300 million. so we want to understand that relationship, we want to understand his relationship to russia. we want to understand his finance and financing. >> you have been very early in your call for impeachment. it's been a question that has hung over the caucus. nancy pelosi oppose it at the moment. i want to ask you about an argument that they made. since your committees are winning in the courts, there's no reason to move forward on an impeachment inquiry and you should let the court process play out. >> no, i think we can do both. i've been for impeachment for a long time, and a growing number of members of congress are thinking we should have impeachment inquiry at least. but i think that we have a responsibility in our committee, it's a constitutional responsibility for oversight and investigation. we should proceed with the courts and let infor

you're talking deutsche bank, $2 billion over 20 years. family records. >> yes, between this and the accountant subpoena that we talked about day or two ago there is going to be some sort of a financial x-ray taken of the president. the committees in congress are getting to see much more information than they could have possibly hoped for. >> because this isn't just business, this is personal, everything. >> yup. yup. if he is getting money from some suspicious source it will be visible in this record. i wonder even if the notes that the deutsche bank anti-money laundering people -- there was a story a few days ago about suspicious activity reports that were considered by the deutsche bank compliance people. will the notes be in the file pointing the way for congress to see what was suspicious about the accounts. >> kari what do you make of this that you have the two rulings back-to-back? one cht judges was critical of the kplt for having such a broad subpoena but went ahead and ruled in their favor? what does this mean when you look at al

and many of these banks headed up by deutsche bank seem to be the worst offender have broken all kinds of american laws in addition to what they've done around the world on money laundering and other things, so you've got the trump problem with deutsche bank, which seems very, very real, although the regulators wouldn't tell us anything today from treasury, coupled with the deregulation they've done with the foreign banks in the united states. pretty much after they promised the committee they wouldn't do it, and it's a serious, serious problem. we need to know more. >> do you have confidence that your committee or that any of the other committees that are now starting to look at this stuff may be able to get to any of this? >> i have confidence that the house will find more because they have subpoena power. i have great faith in the media with -- most, much of the media believes, as you know, in afflicting the comfortable and comforting the afflicted. i think their aggressiveness on this, having a free media and a free press, matter a great deal in this country, and i'm hopeful becaus

deutsche bank hitting back quite strong. the problem here is this is yet another negative headline for deutsche bank. it's potentially facing fines in europe connected to a large money laundering scheme connected to russian individuals. we know it's being sucked into investigations related to the trump organization. both by the new york a.g. and by members of congress. so this is just another negative headline for deutsche bank. >> right. okay. it's worth a read, for sure. thank you for the reporting. we appreciate it very much. >> so, to iran. firing back after the president launches a new threat on twitter. the details aahead. we're family. we'd do anything for each other. but this time... those bonds were definitely tested. frog leg, for my baby brother don't frogs have like, two legs? so they should have two of these? since i'm active duty and she's family, i was able to set my sister up with a sweet membership from navy federal. if you hold it closer, it looks bigger. eat your food my big sis likes to make tiny food. an

troubles money laundering allegations have dogged deutsche bank and it's been on comfortably close to donald trump's financial dealings the planned merger with comrades well it just didn't happen and on top of all of that the bank is dealing with serious i.t. failures and monitoring payments from major customers the list goes on and on but our financial correspondent lars halter is at the shareholders meeting to discuss that list further with us good to see you lars there you are now tell us what's the mood like over there. well 8000 shareholders are here this morning journal and i had the chance to speak to a few of them and they are mostly angry and that of course has mostly to do with what the bank has been going through in the last couple of years in terms of scandals and 1000000000 dollar fines but also of course with the shareholder and let me give you some numbers here if you are a shareholder and watch a bank if you put a 1000 bucks in it 12 years ago you got about 70 left that is 93 percent down and if you want to look at the more recent term if you invested a 1000 bucks just

designed to detect illicit activity deutsche bank staff recommended it be reported to the financial crimes unit. but top executives rejected that advice. the nature of the transactions was not clear. at least some of them involved money flowing back and forth with overseas entities or individuals which bank employees considered suspicious. now a kushner company statement calls allegations involving money laundering completely made up and totally false. a spokeswoman for the trump organization said quote we have no knowledge of any flagged transactions with deutsche bank. while a statement from deutsche bank itself reads in part we have increased our anti-financial crimes staff and enhanced controls and takes compliance with antimony laundering and bank secrecy laws very seriously. at no time was an investigator prevented from escalating activity identified as potentially suspicious. >>> joining us on set danny cevallos. thanks for joining us. talk to me about this. what type of transactions would be flagged or set off potential money laundering alarms. >> a few different kind. anyth

that's deutsche bank. the kushner company had a much more pithy response. they said "the new york times" tries to create scandalous stories which are totally false when they run out of things to write about. i have not heard back from the trump organization yet. but you know, this is just an example of why deutsche bank needs to be very careful, because -- >> they have come under a lot of scrutiny. >> this is another negative headline for them. they're facing fines in europe because there were potential implications that they were somehow tied to a large anti- -- sorry, a large money laundering operation tied to russian criminals. between 2010 and 2014. you know, they are -- they're being asked for information about the trump organization because it's being investigated by the attorney general. and by members of congress. so everyone just assumes that deutsche bank is a bad actor because of all of these negative headlines. but it really requires a little bit of, you know, scrutiny in terms of what really went on here. >> yeah, and much more to come, i'm sur

too many people just sort of pass it off as deutsche bank specific where if you think about it, deutsche bank has the largest derivatives in the history of mankind to think there's not counter party there i think is foolish if you're looking for proof positive, look at how poorly relatively speaking citi bank has traded over the last couple years, probably the biggest u.s. bank with the biggest european exposure, and i think that's telling you something, so i think you're going to wake up at one point and say, you know, deutsche bank's a problem. everybody's convinced germany is going to bail them out that might be the case i don't think that's a solution if there is a counter part risk. >> guy, we're going to show our viewers, the german bund at 5:30 in the morning, my gosh, it's now negative yielding 0.2%. i mean, you're supposed to get money when you lend your money out to be borrowed it actually costs you money to lend money in germany now. how insane is that. >> think about that, germany's the fifth, i believe it's the fifth largest economy on the planet when the fifth largest econo

deutsche bank, his taxes? >> i think it's the southern district that worries him more than anything. in terms of the congressional investigations, he does not want people having this information. but there are, as you know, a bunch of schools of thought as to why that is. is it because there's a bunch of sources of questionable income? foreign income? or is it going to show he's not that wealthy. i just don't know the answer. i can see donald trump digging in because other people want what he doesn't want to give them and sort of causing this self-inflicted wound. it doesn't help him if these documents come out closer to the election if there's something bad in them. if there's not something bad in them, it might be more problematic for democrats, i don't know. >> i don't think he can walk away quickly what he said today. we go down the legislative road or the investigative road, we can't do both together. he's sort of drawn a line in the sand, he can't defend that. i don't think he can easily say we're bluffi