Take stock of what jackson hole will bring with janet yellen. Tom weve been doing this all week. Equities weaker yesterday. Not a shock, but just off the boredom, a very difficult afternoon for markets in the u. S. Janet yellen front and center. 10 00 a. M. Tomorrow, francine, eastern time. You wont hear her speak. It is in a closed room. Embargoedgets an speech and we will have all the headlines out at 10 00 a. M. Exactly. Francine that is what the markets are watching. Today we look at geopolitics with the deal in columbia between the government and the guerillas. Lets get to the bloomberg first word news. The death toll is rising in italy. The government says at least 257 people were killed when the quake rocked central italy. Three mountain towns were leveled. Rescue crews are trying to find survivors. Many of the buildings were built centuries ago. In kabul, Authorities Say at least 12 people were killed in an attack on the American University of afghanistan. The assault began wit
Decision. The bank of england is delivering that later today. No change expected to raise there either. We are watching lafargeholcim, the worlds biggest cement maker. It has been under a lot of pressure. Cement, we gotg running from them as well. With lafargeholcim what we saw profit actually fell in 2015. It is expected to grow in 2016. Some slowdown in emerging markets led that slowdown last year. Heidelberg is heading higher. Were still waiting for the open. Fthansa to guy thank you very much indeed. Another stock to watch this morning, gsk, it is opening higher as well. I will take you to the imap. Energy stocks are leading the charge and we are up by 1. 4 percent. We are rotating towards materials and financials. We thought rotation out of that yesterday and that continues today, which is interesting. We are watching what is happening with gsk. Now, lets talk about the fed, striking a dovish tone. Took down the policy rate hike concerns. Global and economic financial developments
Guy good morning. You are watching the pulse. We are right here in london. Im guy johnson. Europes Biggest Investment Bank, germanys biggest bank is racing for its biggest loss and a decade. Deutsche bank could scrap its dividend. Its boosting reserves for legal costs. Sounds like a bad thing. Ryan chilcote here with the details. We got a lot of bad news. It sounds really terrible. But stock is up. What is going on . Ryan the Immediate Reaction was negative. The stock is up. There is a giant competition going on. The balls the balls on the up. K the stock now why . A lot of people saying we thought when they did this announcement we were going to get a Capital Increase. The fact that the dividend is going to take a hit, is a do it is a positive. It increases the likelihood of a Capital Increase down the road. Analysts whonty of think a Capital Increase could happen here it happen. Ryan the second issue is take everything that was happening in the statement to the side, look at pretax p
Dollar for the First Time Ever. It is it is a morning. You need to be up to speed. Caroline hyde has your bloomberg news. chinese stocks have extended last weeks plunge after concern about the slowdown deepening. The Producer Price index slumped 5. 9 in december, sending declines to a record 46 months. The cost of borrowing the yuan has jumped by the most on record. Tightened supply of the currency following intervention by the Chinese National bank. Ubs will double its staff in china over five years. Their chief executive says that a time of volatile markets is as good a time as any for wrapping up operations. China is not on its own with those challenges. We have to expect some adjustments for 2016. Those are also good times to plan for the future. That is the reason why we are starting to implement our Strategy Plan in the next five years. We think we are going to double our account in this region. Crude has extended its slide from an 11year low, confirming the view of hedge funds t
Lets put it in perspective, betty, even if we finish around these levels, we are coming up at 6. 7 losses last week, the biggest in four years. Somee are seeing fluttering of gains across the european markets. Emember the dax fell all those fell he most since august. The dax, as i said, the fifth worst performing stock. Erformance in the world as i speak, betty, the dax turns lower. And the volatility index, it since 37 , the most april. It is not as good as it was earlier, but little changed. Quite a difference to what happened last week. Betty its interesting how your narrative changed in the last halfhour. Mark im blaming you. Betty and i am blaming you, mark. Ok, we had the South African rand, the president , jacob zuma, coming out, really complaining the market should not have move reacted to his move. When he got rid of two finance ministers in the space of two days. 2. 3 . T that, up it is at a record low. Mcquarrie bank says a combination of stocks and margin calls caused mass