This is casting around the globe and covering the world of business and finance and impact upon us im christi i. Know in washington here is a look at whats on the today show joyce and then continues to slash jobs as part of its restructuring could there be an eerie pattern unfolding nailer a Public Citizen is on hand to sort through whats in store for the banking behemoth. In the wake of the constant Terror Threats auto exports from mexico to the states have spiked lauren fix the car coach joins us today to break down the boom of cars coming across the border we have packed show today i thought lets go and dive right in. A legal fight that could such major global precedence on down to sharing and privacy leads our global report today as the Irish Data Protection Commission takes a case against facebook to the European Court of justice on tuesday the. The top court of the European Union began hearing a case that began with revelations that a u. S. Spy agency the National Security agency
The top court of the European Union began hearing a case that began with revelations that a u. S. Spy agency the National Security agency was compelling facebook and Similar Companies to turn over private data from users in the e. U. The 11 specific questions that spun out of that case are now before the court and center on the rules that govern Tech Companies sharing data from users around the world socalled standard contractual causes or c cs if the e. C. J. Finds that as he sees fail to protect the privacy rights guaranteed by e. U. Laws Companies Like facebook and its peers could be forced to sequester that lucrative trove of european consumer data and rewrite their rules for sharing what is arguably their most valuable resource a decision from the court is expected before the end of this year. Catching up with africa 54 of 55 leaders attending the recent African Union summit in nigeria has signed an agreement to create the african continental free. Trade area the proposal under di
Africa 54. 00 of 55. 00 leaders attending the recent African Union summit in nigeria has signed an agreement to create the african Continental Free Trade Area the proposal under discussion for 4 years advanced after Regional Power nigeria was convinced to support it. As one of the remaining holdouts on the continents agreement which would eliminate most tariffs has been ratified in the National Parliaments of about half of the African Union members the unions trade and industry commissioner predicted that the area would become operational by july of 2020 that gathered elders also advanced plans for pan african Payment System to maximize efficiencies within the trading bloc and reduce trade barriers created by the region scarcity of foreign exchange. And japan has launched another round in the back and forth with south korea over new restrictions on export materials used in semiconductors and smartphone displays japanese trade and industry minister here a show. Tokyo was not thinking at
I judge banks message to the world is that they are undergoing a restructuring a routine restructuring like the ones that have happened every quarter for the past few years in order to return the business to profitability in this current iteration davie is attempting to shed its Equities Investments its trading business and shift over to primarily a lending business now on the surface this move makes perfect sense but lets dig a little deeper remember when bear stearns underwent a restructuring translation they are in a full on crisis mode now the debts of Lehman Brothers and bear stearns were quick and painless but the coming the rise of Deutsche Bank has been long drawn out and very painful and recent times daveys Investment Banking division has been among the largest in the walls comparable to goldman j. P. Morgan and they have led book writers and notable i. P. O. s such as go daddy and aston martin and ali baba. And more but today with the stock trading at 7. 00 per share that is
We did get japanese factory orders which were disappointing down 7. 8 in may they were expected to fall only 5 were down full 1. 5 as you can see in hong kong a little more than that in shanghai 2. 6 . European equities are lower, down around about 0 where do we look on the screens 0. 1 there we go, down 0. 2 in france, italy holding on to slight gains we did get some better than expected german Industrial Production data up 0. 3 in may. It was expected to fall slightly treasury yields back about 2 . Similarly the german yield is back above 0, negative 0. 4 and were up 0. 23 . Deutsche bank announcing it will pull out of Global Equity scales, scale back Investment Banking and slash 18,000 jobs as part of a Global Restructuring plan you have been following this story obviously throughout the weekend. And i thought your comments earlier with dom chu were interesting. You sort of term this as ripping the band aid off. Finally. Perhaps a little too late. Finally exactly. So 18,000 had cut