Going green. Guy eurozone pmi coming in. The Services Data falling to 53. 3. The forecast was 53. 9. Q2 is not going to be as strong as it was in q1. Maybe this reality just beginning to fade a little bit. The manufacturing number stronger than anticipated for the aggregate number for the eurozone. Lets find out what is going on in paris. Leaders gathering for the business and climate summit. How will we cover this . We dispatched Francine Lacqua. You have been talking to great guests. Francine we certainly have. We are not expecting anything concrete, there is a clear sentiment that there has been a business shift. A lot of these leaders basically are starting to look at this because they are expecting some kind of agreement set in stone by the end of the year. We spoke to be loreal ceo exclusively, he was telling me they already have a lot of things in place for example for Waste Management, reducing packaging. If you look at oil and grass gas industries, that will be problematic if
We are here in london. Im guy johnson. Francine and im francine lacqua. We begin with Deutsche Bank dramatic rebound. The german lender plans to reduce cost and cut back its ownership of its consumer unit. Guy for more, lets go to hans nichols from frankfurt. Where is the bank trimming cutting, where is it looking to grow . Hans they are going to be cutting in retail units. It is not just postbank. Deutsche bank itself, their retail outlets will drop by about 200. There are currently about 730. They are trimming back the investment bank, but they are also redeploying some 50 billion to 70 billion in assets into relationships and clientbased services. They are looking to shed about 200 billion in assets. That is going to get their Capital Requirements to about 5 . Before, their goal was to have a return on equity of 12 . In 2015 they came in just north of 3 . A lot of that is litigation costs. They were hit by 1. 5 billion. We are heading into a press conference shortly. We want to find
100. Rescue efforts in nepal are hindered by after shocks following a massive earthquake that killed thousands of people leaving thousands sleeping out in the open. And welcome, everyone, to the show. You are watching worldwide exchange. A lot to talk about this week but first, wilfred, nice to have you back. I know. Weve been on different schedules last couple of week. There was a lot of konkl from the deutsche capital. I love it. It was great coverage. Having been away for a little bit whether it was holiday or election focus, it does make you think again about where markets are and im pretty bearish is. I dont see what there is to be positive about in the markets around the world. The shanghai market this morning hit a 7year alltime high and weve got the european markets on a tear as well. I dont think thats justify. The nasdaq stole the spotlight last week. Hitting a new high, sur parsing a level back in 2000. The sector continues to move higher. On your point, i think there is a l
We will take off with what everyone is talking about. Tonight, this Chamber Space with one voice to the people we represent. It is you, our citizens, who make the state of our union strong. That is pretty much the standard opening line. The president spoke for 55 minutes. Mostly on the economy, immigration, raising the min wage, tax reform, natural gas, you get the picture. If you missed it, here is the state of the union in two minutes. [music plays] we need to Work Together on Bipartisan Trade Promotion Authority to protect our workers, environment, and open new markets to goods stamped made in the usa. If we are serious about economic growth, time to heed the call of business leaders, labor leaders, faith leaders, law enforcement, and fix our broken immigration system. America is closer to Energy Independence than we have been in decades. Businesses plan to invest 100 billion dollars in new factories that use natural gas. Help states get those factories built, and congress can help
Go on to a second look at firstquarter gdp later in the week which may decline. Thats a rear view of the First Quarter but radioshack is the only company of note reporting. Their store were i live is gone. Its a train wreck. Lets do a data check. Equities are better than good. A record high in the s p 500 and we advance further. The euro is off the key elections. Vxx shows the good news in a quite markets. Goal begins a decline, still and arrange but nevertheless 1284. But weaker yuan and the indian rupee turn as they have a new government. Here is the minimizing shareholder value of astrazeneca. That is painful. Table,as a deal on that 53 pounds, 50 pence and now its trading like 42 because there is no deal. We looked at the newspapers and scarlet fu did that. There is a lot to go over with the elections. I want to start with ukraine which has a new president ends in his excess on the battlefield. The governments of the military has significant significant losses from rebels. The its