The first time in four days. Europe pulling itself back up. You have gold prices falling this morning. Ore aware rising rush iron iron ore rising. And it comes to valuations, one of the most interesting things i read some of the s p 500 offers you a view of around 5. 6 . Not a dissimilar story when you look back into the european context. What equities offer you versus what bonds offer you. Meet. Ers leaders some companies, very much under our focus today. Our clays in terms of barclays, in terms of the lawsuit leveled against them. This is their private trading exchange. Institutions and brokers do business. There is a lawsuit, it is down by two percent. Understand the dollar clearing may be up to a year, but it may have to do with those offices involved in the breach of sanctions. For example, geneva. Doing atock exchange deal, 2. 7 billion, buying the russell index. Giving them more scale, it geographic positioning. They will have the rights issue to fund this deal. The stock is up
Good morning, everybody. You are watching the pulse. We are live from Bloomberg European headquarters in london. Also coming up is one of the deadliest jobs. Why crab fishermen risk injury and death. First we will begin our top story today. That is barclays. The bank announced a strategy revamp. I asked the ceo Antony Jenkins in the last hour if the bank can still compete on a global stage. We absolutely believe that we will be competitive as we are today. In the market, with the clients we choose to serve. Thatready have positions we are going to retain in the u. S. And u. K. And that is where our focus is going to be. We are confident we can continue to compete. We created barclays noncore, a set of assets we believe are no longer strategic for the group. We are confident that we can reduce those assets over time from about one hundred 15 billion pounds of risk weighted assets to 50 billion in 2016. If you are shrinking it by that much, how do you think you can still compete . You ar
Accommodation remains warranted. Hello. Welcome to countdown. Justin on 6 00 a. M. Here in london just gone 6 00. Manus cranny looking ahead to the strategy update. Alking us through decision day zeb eckert is in hong kong with the story on alibaba on one of the savviest investors. From metro,nings hans nichols is in berlin today. What could be the effect on turmoil on germanys biggest retailer . Theark bristow will be on show. 7 00earnings breakdown a. M. , the finance director from bt coming up after 7 00. Getting earnings from deutsche telekom, a narrow miss. 4. 21 billion euros. 4. 15 were estimating fo billion euros. They have confirmed the fullyear forecast and they are scaling back ambitions in content in media and focusing instead on Network Investments to internet and phone customers in europe. The tmobile u. S. Unit adding more subscribers than both at t and Verizon Communications combined in the first quarter. Sprint, the big Japanese Company controlled by softbank division
Hello. Welcome to countdown. I mark barton. It is 6 00 a. M. Thursday morning. On the pulse, check out our interview to talk about the swiss watch industry. The new York Attorney general has begun a lawsuit against barclays. Alleging the bank lied to customers masking the extent of highfrequency trading. Markets editor manus cranny is here to explain. Before we get into this. What are dark pools . Why do they use them . They have evolved. It is like a private trading venue. It is where institutions can go to execute highend sell orders without talking about which side they want to be on. Otc, referred to as overthecounter, hence less regulation. Is less transacted. What is at the heart of this lawsuit . Word, lies. Lies and fraud. This is under the martin act. Barclaysing that pursued the growth of the dark pool regards of Everything Else around it. They wanted to catch up with credit suisse. They lied about affecting them. Our complaint alleges that this marketing a protections was fa
To countdown. I am mark barton. It is 6 00 on this friday morning in london. Bloomberg reporters are standing by across the world, ready to deliver the stories. Hans nichols is in brussels at the eu summit. Manus cranny is covering barclays. Caroline hyde is looking at nike. And in hong kong, zeb eckert is focused on what could be the biggest ipo ever from the u. S. As alibaba chooses an exchange. U. K. Prime minister David Camerons fight against Jeanclaude Juncker is only the beginning of a battle with brussels. It looks increasingly isolated from traditional allies. Hans nichols joins us from the eu summit in brussels. Good morning. Tot is Angela Merkels plan deescalate the situation . That is a very good way to put it. Merkel wants to lower the temperature. She plans on engaging on policy and acknowledging the need for reform. Listen to how she made sure there was space for cameron to climb down. Ifi think it is not drama the vote is not concordant. We have to find as much Common Gr