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
Health and Human Services secretary took questions on the president s proposed budget for 2019. He was asked about funding for medicare and medicaid, combating the Opioid Epidemic and the cost of Prescription Drugs. He testified before the Senate Finance committee. The committee will come to order. I want to express the sadness we all feel in light of yesterdays events in florida. I was personally horrified as i watched the news unfold yesterday though i was also moved to hear some of the stories of the heroism displayed by some of the students and teachers at the school. Am praying for those who were affected. May they all find peace, healing, and a speedy recovery. I welcome everybody here to todays hearing which will be hearing on final the president s budget for fiscal year 2019. We have already had the treasury secretary and hearing acting i. R. S. Commissioner appear before us. Today well be talking with secretary aczar from the department of health and Human Services. I want to
Year this all has been happening as treasury yields started to pick up yesterday that kicked off the concerns the twoyear treasury yesterday topping 2. 16 . That was the highest level since september 8, 2008. You can see the twoyear this morning, yields have come back down a bit 2. 108 the tenyear is where the focus was yesterday. The yield there nearing 2. 73 . That yield backed off a bit, too. We will see the last meeting of fed chair janet yellen today at the fomc nice stories about janet yellen today the finale here as jay powell gets ready to begin february 1st. Some big stories were watching this morning jpmorgan saying that jamie dimon will stay in his role for about five more years. That time frame could suggest hes not planning on running for Political Office which has been speculated about for some time we talked to him about that last week in davos on this show the bank is promoting daniel pinto and gordon smith to copresident s and coos pinto oversees Corporate Investment b
Planning and autism. He talked to senator or in chairs the committee. The committee will come to order. Before i begin i wantto discuss on behalf of the committee how we all feel. In light of yesterdays events in florida. I was personally horrified as i watched the news unfold yesterday, that though i was also moved to hear some of the stories of the heroism displayed by some of the students and teachers at the school. In times like these i know that the thoughts expressed by those of us far away can sometimes seem empty and meaningless in the face of such a terrible tragedy. I will simply say i am praying for all those affected by these acts of senselessviolence. That of course includes a member of our committee will i know is mourning the loss in his own state. May they all find peace, healing and a speedy recovery. I welcome everybody here. And todays hearing which will be our third and final hearing on the fiscal year 2019. Currently, we already have the treasury secretary and the