Welcome. Youre watching the pulse live from bloombergs European Headquarters. Were here in london. Im guy johnson. Im francine lacqua. It was a beat for barclays. An extra 750 Million Pounds were set aside for the currency probe. Anthony jenkins spokes to us first. This comes back to how do you reshape a beast . Do you cut off the legs . Do you cut off the head . What do you do . Jenkins is trying to put his stamp on this bank. He is dealing with expenses. He is dealing with legacy issues. When it comes to Foreign Exchange, that is a perennial issue. He didnt settle before christmas where he would have got a discount for doing so with a number of regulators. My question is should you gone with the rest of the crowd and taken that hit a little bit earlier. Did he make a mistake . He was quite optimistic though on the overall performance. We are required to provide what we can reasonably estimate at this time. I cant completely say that will be the end of the Foreign Exchange version, th
Anybody about the cost of the price of oil and has no fear about future fluctuates. Im not worried about crude nor would i try to predict what the price is. This is just the beginning. Indias finance minister tells cnbc the country will grow faster than china as long as it continues to reform. I believe india has a 9 or 10 Growth Potential and 9 or 10 Growth Potential, we have to invest a lot into Rural Infrastructure. This driven by the strongest performance since 2008. Lets get to carolyn with more on that story. Good morning to you seema. It wasnt driven by the Wealth Management business but also by the Investment Bank. We know that traditionally the First Quarter seasonally is the strongest of the year. Its tough to extrapolate that to the rest of the year. We did see a beat on the underlying basis in capital. That was better than expected but lets hear from the banks cfo himself. It was a really good start for us. Solid start. Strong quarter. Were pleased to see all of our busines
Host youre watching booktv on cspan2, and now joins us live is the author of flash boys. Michael lewis, what is a flash boy . Guest the heroes of the book are the flash boys, and theyre people that discover the stock markets got something funny going on and seek to find out what it is and then build a mechanism to prevent predators in the stock market from getting to prey. Its called flash boys for a couple of reasons, actually. One is that the solution that the main characters come up with requires them to be faster than the highspeed traders who are the predators in the stock market. So theyve got to be, i wanted speed in the title, but i also wanted kind of superhero in the title because they were these, i mean, these characters presented the story, i felt. Theyre not doing anything unnatural, but they do have these weird powers in the Financial Markets right now, and the powers are powers to explain complicated things to people, the power to kind of engender trust in others. But th
Been exposed that the problem can be dealt with. The regulatory process can do the things it needs to do which isnt necessarily introduce one new regulation. You see what happens with a very wellmeaning regulation. I think the two things that people in congress who are concerned with this issue and regulators should always keep in mind is that everything should be in the direction of increasing transparency, genuine transparency not the radical transparency where people will know what is happening rather than digging through 800 documents. Actual transparency and two being very sensitive to the incentive system they are creating in the financial markets. People respond to incentives. That is the story of wall street and the various crises we have had. People are just answering the call of incentives and when the incentives are bad the behavior is bad. Host finally Michael Lewis i was a little confused by the last chapter. We need to tell everybody what it is and they can pick up the bo
And u. S. And european envoys to the u. N. Have expressed concern over a planned referendum that could determine crimeas future. People across japan are marking the third anniversary of an unprecedented natural disaster. A magnitude 9 earthquake struck on march 11th, 2011, triggering towering tsunami that swallowed coastal communities. After that the Fukushima Daiichi Nuclear Plant lost power and reactors melted down. Three years on, people are remembering those who died. Japanese leaders held a National Memorial ceremony in tokyo to honor the victims. Participants observed a moment of silence at 2 46 p. M. , the exact time the quake struck. They paid tribute to the more than 18,000 people who died in the disaster and its aftermath. More than 2600 others are still listed as missing. Representatives of families who lost loved ones spoke. This mans 25yearold son died after the tsunami swept in. He was leading feel safety. She found his body in a morgue ten days later. Translator well con