Francine welcome to the pulse. Live from bloombergs European Headquarters. And francine lacqua. Manus and i am manus cranny. We are joined by ubs senior economic adviser, George Magnus. Francine frances secondbiggest bank has posted its second its second its biggest profit since 2007. Manus she spoke exclusively to the banks ceo. This performance driven by trading. The capital is building as well. Investors like the story of the decision this morning. The shares are opening 9 . They like they say it they like the story of cost saving. Nextillion euros for the two years. Of capitalhe raising targets. Their ratio came out for the second quarter. From 10. 1 last quarter. They are planning to raise this target to 11 by the end of 2016. I sat down exclusively with the ceo and asked 10 how he could explain his performance in the second quarter. We actually have a strong set of results across the board. Close to 9 organically. We also have lower cost of risk. Underlying profitability of 10. 3
Snyder apologizes again for his role in the poisoning of flints water supply as calls for his resignation grow for covering up the lead contamination. An on elected emergency manager appointed by snyder switched flints water source to the long polluted flint river to save money. Then we go to stunning developments in guatemala, where police have arrested 18 x military leaders on charges of crimes against humanity. We will speak with investigative. Ournalist allan nairn fear is growing in immigrant communities across the United States as the u. S. Government carries out a National Campaign targeting families, including many who fled violence in south america. We will speak with two immigration attorneys. They came to my house looking for someone else. Opened the door and they brought us down from the room and asked me for identification and they told me i was already deported. Amy all that and more coming up. Welcome to democracy now , democracynow. Org, the war and peace report. Im amy
Some economists point to a shrinking workforce, stringent control by the ruling party and the middle-income trap as possible pitfalls that will prevent China from achieving its ambitions.
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