This year . And the Worlds Largest wealth manager promises a 2. 1 billion buyback. Are tracking an opportunity to Share Buybacks. Matt we are less than a halfhour away from the european open. Take a look at futures. We see very little change as far as futures in france go. Dax futures are up almost 0. 2 . Ftse futures are down 0. 1 . Probably more interesting to look at treasuries now. You could look at treasuries or bunts. Investors are watching bunds to confirm the rise in treasury rates as well. Will this continue, this rise in treasury rates . Will we see a rise in the bunds continue as well . This is interesting to watch amid the Government Shutdown and continued Coalition Talks. Lets get the first word news with Juliette Saly and singapore. Juliette ubs has said they will buy about 2. 1 billion in stock over three years and merge is to Wealth Management businesses. The program will begin in march. It is also starting a new dividend policy. Ceo Sergio Ermotti said they hope it wil
That news. Also breaking, celgene agreed to junono therapeutics therapeutics for 9 billion. Juno up 27 on that news. David it is merger monday. Brief. W for your morning 11 30, the u. S. Treasury will auction threemonth and sixmonth bills. Is scheduled to vote on a temporary bill to end the shutdown. For clark, netflix releases fourthquarter earnings. Right now, lets get headlines outside the Business World with first word news. The u. S. Government shutdown now in its third day. Congress failed to negotiate an end to the stalemate. A Bipartisan Group of senators is looking at a plan to fund the government through february 8 and take up a bill to keep daca immigrants from being deported. Many federal agencies will carry out closing plans. President trump and theresa may will meet in davos this week according to a spokesperson for may. The president said he canceled a planned visit to london for the opening of the new u. S. Embassy. Signalingussia are there are lines may be lengthy. Pro
Its a very modest decline. All in all, when i look at the full year, we have done better. We are gaining market share. Anna a warm welcome to the program, this is bloomberg daybreak europe. In the london, 7 00 land. We go there in terms of the results we get first this morning. Fourthquarter net income coming in ahead of estimates, 801 Million Euros is the number on the bloomberg right now. The estimate was for 569. 6 million. The company has been cutting costs and has sweeping restructuring plans. The focus is really on that restructuring progress and what they are doing there. Also on their dividend plan. Theyre telling us for your dividend will be 0. 32 euro. The focus, the comparison with ,ts rooftop with its rival will become italys largest company. Credit has at union his plan in his sights. On watching for an update nonperforming loans, a focus for this is this as well. Lets stick with the banking sector, commerzbank has their numbers hitting the bloomberg as we speak. For her o
Currently down. We are still trying to figure out what the next leg for a lot of these markets is. Industrials are under pressure today. We are still trying to figure out the aftershock from the global selloff that we saw on tuesday and wednesday. The other thing that i am looking out for is the yuan, dropping the most since august of 2015. Some trade figures in china disappointed and of course it is boe day. Bloomberglso on to a fewnce. , we speak guests. Kaplan of the Federal Reserve bank of dallas joins us in an hour. A little bit later on we will be axeld by axa labor weber. Lets get straight to the bloomberg first word news. Societe generale has the estimates has Beat Estimates. It was expected to post a loss. The ceo of frances secondbiggest lender is upbeat. First of all, Fourth Quarter we did better. Decline. Very modest u. S. Senate leaders have announced a budget agreement that would provide nearly 300 billion in additional funding. Extend the plan would the National Debt to
Good morning. The hearing will come to order. Welcome to the committee on the Budget Hearing on the president s fiscal year 2019 budget. Today we will hear testimony from the director of the office of management and budget, the honorable mick mulvaney. During our hearing we will hear directly from the director of omb and we appreciate you being with us here today, mr. Director. Your insight will be very help of in our understanding. We see that the president s budget each year marks the beginning of the federal budgeting process or budget season as we like to call it, and the white house officially kicked it off on monday. While congress ultimately controls the purse strings, the president s budget request is still an important document for lawmakers to consider along the way. Each fiscal year the administrations budget documents documents the president s policy and spending priority. These are important for both changes to consider as work crafting the budget resolution begins in earn