Morning. Let us get straight to the markets. We have equity markets around the world under pressure. The shanghai composite is lower this morning. Going for the worst rate we have seen in china since the slump of last year. The biggest twoday loss since last year. Is view from the market critical levels, that would be a 50 retracement from that magical high that we saw two years ago. China stocks headed for the biggest twodate loss, margin traders have cut for the 18th straight day. They are getting out of this market. Back to give you a basis. Let us get to the recording season. It is really kicking in. Let us deal with santander, spains biggest bank. In terms of capital, that is the critical issue for the marketplace. Core equity fully loaded, 10. 05 . The mention is to raise the capital level quite aggressively to match her peers in the marketplace for 2015. They made a profit, a net profit of 6 billion euros. That is the santander capital position. That is the santander net profit
Hello and welcome to countdown. I am mark barton. I am anna edwards. And i am manus cranny. 20 of news on the banking sector. The regulator in the u. S. The first to break its cover on this given the details of who they are going to be finding. They have ordered five banks to pay more than 1. 4 billion in an fx probe. Citibank, hsbc, jpmorgan, rbs, and ubs will pay a fine. Not said anything about any conversation they may or may not have had with barclays on this. The banks have said they will cease and desist for further violations, according to the cftc. Some fx traders and banks court knitted coordinated their trading with others. Banks failed to assess risk with cftc is goingthe into detail and word from the u. K. As well. We have got to figure the figure is 1. 1 billion pounds. Before the release a few minutes ago, analysts said that the six , barclays, citigroup, hsbc, royal bank of scotland, ubs, barclays has not been mentioned today. That the fines would total 1. 5 billion. If
Month of risk. Whether that has been underwhelmed, bloombergs exclusive story about how half 1 billion was being offered in terms of quantitative easing. In spain the cost of protecting yourself is rising. You are at the 20 month high. The cost has risen in spain. In italy it has risen 30 . The people are buying protection. I want to speak so much i lost my voice. In spain and italy that is what the key messages. The market is preparing for more bad news. It was the biggest quarterly decline in the periphery of europe in two years. You mentioned rbs. A couple of stocks i want to try to get through in this rundown. Rbs down a third of 1 . The market is rising this morning. Rbs putting the asian business up for sale. They are doing this for the international division. They raised money from the sale of citizens. That would take 27 billion pounds off the credit risk. That would take 27 billion off the credit they are responsible for. What might they achieve . Shire pharmaceutical up. Caro
We are talking about bp, a company under pressure. The oil giant has Just Announced that it expects 1 billion in restructuring costs as Falling Oil Prices and speculation of a possible merger swirl around this business. Lets join our Bloomberg Intelligence expert, philip. Good morning. Very nice to see you. Bp is a country under a company under pressure. Dudley has had a fairly turbulent few years. What is he going to be telling these guys about his upstream operations . I think the bottom line right now is, they are focusing on the big projects in the gulf of mexico, angola, the caspian, and they will try to sell off the smaller assets and the assets that have reduced production volume. Is that a continuation of what they have been doing . It is a continuation and an intensification. With the pressure they have now, it is going to be more pressing and more of an issue going forward. Will they find buyers for some of those assets . Theres a lot of rumors swirling around about m a. Are
Welcome to countdown. Also coming up today the winners, the glitz, the blam more, the Golden Globes in hollywood. Lets get back to our top story. France begins a new week with an unprecedented message of defines against terrorism ringing out across the world. Questions remain over the long term political implications of the charlie killings. No fewer than 56 World Leaders join the largest crowd in french history yesterday in the wake of three days of violence that killed 17 people, the french capitol is still on high alert. Sharp shooters were positioned on roofs lining the route of the march. Among the millions of marchers, it was the simple example that empathy with the victim of the masacre that told the story. Cartoonist pencils. Now from paris, i suppose what a show of global dip plat i can support. It really captures the worlds attention. What next for france after this very initial mourning and show of grief passes . This march was very historical moment for france. You had 3. 7