Gas dime was profits of 64 daimlers profits of 64 . Live from europes headquarters in london. I am manus cranny. Smash estimates reporting it welcomed the news for the bank which saw a lot of 700 million francs. Francine lacqua is on location today. She is out and about, catching up with the new ceo Tidjane Thiam. What is the news . Francine we try to quiz him. We have to remember these are not his results. He is only been on the job for 20 days. Once it these figures will lay out the strategy on which he will overhaul the bank. That strategy will be revealed by the end of the year. The key to this is the new strategy should be release some of pressures from secondquarter results. Tidjane performance of private bank is a strong. Driven by asiapacific which we have a strong interest in. They were very pleased with the way things were developing. Profits were up 150 in the Second Quarter. [indiscernible] 54 billion. 4. 2 of Asset Management. Very strong quarter. If you think about Credit
Territory of qualm. Rishaad the president visits taxes and says it is epic. Harvey bringing the heaviest downpour in u. S. History. Haidi growing doubts the fed will hike again this year, Major Applications for other central banks. Rishaad for years they have been the unloved part of the chinese stock market. We are talking about financials, lenders, and 8536, how things have changed. People looking at fundamentals as the big four report earnings. Is clear laggard Agricultural Bank of china, and the winner is the industrial commercial bank. What is happening, these companies have come back in favor, but this one issue has dogged them. Chinas big bang for banks and their nonperforming loan book. Theree worst performer because it is perceived to be the most risky as it does indeed have the highest number of npls on its books. All to play here, people looking for these numbers and other key makes aor what bank attractive. Absolutely. Campaigneleveraging isnt actually happening, so that is
Investors reassessing the taste and direction of the federal reserve. The governor said week policy might force them to alter plans. Shares jeff bezos, topping 1000, a sign of the growing power of ecommerce. , letsg news, china pmi get straight to chart, 8228. What we have had is a slight fall back in manufacturing, the number above 50 indicating expansion, below, contraction. 51. 2, slightly better than had been expected. That does not tell the whole story, does it . Thats right. It is slightly better than expected. That wee suggestions are past the peak when it comes to this china growth story over the past 612 months. The other part is how Small Companies and china are doing, 8223, the Small Company index suggesting an improvement for the First Time Since mid2014. We will get a better cage when we get the unofficial pmi tomorrow. They tend to track these smes. The official numbers looking at figure stateowned companies. Steve. i am with he has been pouring through the numbers. How d
About north korea. Pyongyang makes a surprising offer. We have the world covered on bloomgberg daybreak asia. We go to washington for the latest on the u. S. And chinese Diplomatic Security dialogue. Later we have an interview with the chinese ftc president live from bangkok. Coming to you live from our bloomberg headquarters. It is that oil complex we have to be worried about. First it was wti, now brent crude heading into a bear marke t. Some opec nations are considering deeper out put cuts. And they have to extend those cuts even further. You can see that build up in the oil market. We have hit that moment where suddenly everyone is paying attention. Lets see how the rest of asia will be handing out. Be panning out. Flat on the index 50. Cash rate unchanged. Rates will not move for some time. Futures are positive after an ugly day on the asx 200. The aussie not doing much at 75 51. 82. T falling at 44 we will look at the asian session. Lower after half of 1 down on the nikkei 225. 1
Live from bloombergs u. S. And asian headquarters. I am live in new york, where it is just after 7 00 p. M. Yvonne it is 7 00 a. M. Here in hong kong. I am yvonne man. There is something about the month of august where crazy things just happen. Two years ago it was china, the devaluation. The jury is still out to see whether geopolitics will be the trigger this year in triggering the volatility. Betty who knew a year ago we would be talking about north korea and the possibility of military conflict between the u. S. And north korea . But here we are in august. Volume is still relatively thin. Any movement will be exaggerated by the thin volume. That is exactly what we saw. Despite all these headlines, the markets remains relatively resilient. Which is confusing to some investors who say, we should be moving more on these headlines. Right now it looks like the markets are focused on earnings and the fed. Yvonne those are still some likely catalysts. From a comments Little Movement from