That offset the departure of ceo. Demonstrations continue after an 18yearold is shot by police after 17 weeks of antigovernment protests the risk off tone was set by wall street overnight. A heavy close after a very disappointing ism manufacturing print coming out of the United States showing it deeply in contracting territory. That set the tone for equity trading. You can see the stoxx 600 today, almost all of the heat map is trading in negative territory. We are only about an hour into the trading session or so. So very heavy losses lets talk about the indices the ftse 100 today with Boris Johnson expected to deliver his keynote speech the ftse 100 is down 1. 2 well get more about hard deal or no deal luxury hit there well talk about that in a second ftse, mib in italy down as well about. 8 travel and leisure the only spot in green basic resources down 1. 8 . Chemicals in decline down almost 4 there anything that has international expose youre or exposure to this trade war speaking o
Of strong earnings. Airline also slashing its expected deliveries amidst boeings quality crisis. And teslas asking its shareholders to reinstate elon musks 56 billion pay package. That was back in 2018. This after, of course, Delaware Court voided that compensation earlier this year. Lets begin with the markets, set to open higher after the dow ended six straight sessions of declines. S p, nasdaq, russell did extend their daily losing streaks to three. Yesterday, as you know, the fed chair suggested that rates could remain higher for a longer period. Heres what he had to say about battling inflation. More recent data shows solid growth and continued strength in the labor market but also a lack of further progress so far this year on returning to our 2 inflation goal. The recent data have clearly not given us greater confidence, and instead, indicate that its likely to take longer than expected to achieve that confidence. That said, we think policy is well positioned to handle the risks
Negotiations and look at where the new government goes from here with our Business Editor, simonjack. We usually ask you a twitter question, but today the founder of amazon has one for you what should he do with all his money . Jeff bezos has posted a request for ideas from The Public For Philanthropy Inspiration what advice would you give . Just use the hashtag bbcbizlive. Good to have you with us on Business Live. We start in greece, which has edged back from the brink of financial collapse once again. Late on thursday after months of wrangling European Finance ministers, together with the International Monetary fund, finally agreed to give athens its latest slice of bailout money. And theres a hint it could get some relief from its crippling Debt Mountain next year. Lets show you the details. Greece will finally get this 8. 5 billion euros part of an 86 Billion Euro bailout plan agreed in 2015. It is the third it has had. It will come just in time, as greece faces 7. 3 billion euros
Welcome to bloomberg daybreak europe. Earningse a feast of for you this morning. Income is coming in at a billion euros. What we are looking at is Third Quarter revenue coming in at a beat as well. 41 . Quarter revenue up if you look at 50 uplift business he stole from the americans. The banks are front and square. They havel thed thirdquarter market was looking for 4. 42 so that is a miss. Volume a little bit better than the market had been expecting. They had been estimating a drop of 1. 5 . The top line revenue generation, that missed as well. 11. 4 is what the market had penciled in for that. Theyre planning to cut 3 of the workforce. It is a top line miss for them. Was 2 . Rowth that is a shocker. Lets talk about ubs, the worlds biggest Wealth Management company. That is a slight miss, 827 million swiss francs. 33 ,tax level profit up by 877 million. Third quarter had a litigation charge, 419 million swiss francs, having to do with mortgagebacked securities. Thecomments coming fro
Morning. Five banks have been hit with major fines. Kayla tousche joins us on set with some of the details. This is the settlement weve been speccing for weeks, for months. An 18month investigation by authorities in the uk as well as the uk as well as switzerland have announced a joint settlement with five banks, urging them to pay more than 3 billion to settle charges of key Foreign Exchange rates in the 4 00 hour is when most of the activity, according to the press releases, happened. Its going to be a costly one for many of these banks. Ubs will pay the most at about 800 for a threeway settlement. The cftc in the u. S. And the federal authority, as well. Citibank will pay 668 million to the fca and the cftc as that Bank Adjusted earnings by 600 million just a few weeks ago as it was setting aside more money for this settlement. Jp morgan chase will pay the two u. S. And uk regulators. Hsbc, 618 million. Even though these are pretty big sticker numbers, guys, it does seem like pretty