Also coming up, saving sony as the firm forecast a surprise 1 billion loss. Lets begin with the Credit Suisse story. The Bank Reporting results today. The Second Biggest Bank missing estimates. Manus cranny sat down with the c. E. O. , brady dougan in zurich. Talk us through the numbers and tell us about those division. You know, guy, it is sort of like two misses and one hit. Provisions. 514 million swiss francs but they are making progress on the tax investigation with the f. E. C. And the mortgagebacked security. That is going on. Wealth management. A little bit of a shock here in switzerland and europe, guy. 2 billion going out the door it was that was about normalizing the business. Cash a little bit light compared to what we thought about. This tax issue is not going to go away. The i. R. S. Is not going to go ongoing issue. An u. B. S. Handed over 4,000 names. Those are the numbers, the issues on wealth. If youre an employee at Credit Suisse, total comp is down. Investment banki
Formula is going to hurt its Third Quarter revenue. Plus, apple has reportedly sold two suppliers. Its cutting orders for the new model of its iphone and upping orders on its high end 5s. Hello and welcome to this wednesday on Worldwide Exchange. Plenty to talk through on todays show with the clock running down on debt ceiling. Well hear from one guest who says markets are still unfaced by the risk of default. Clearly if you take a look at the price action, john kenalli joins us. Never mind the debt ceiling threat, one of the biggest ipos join us. Japans softbank had a boost after securing a majority stake in the finish gamemaker supersoft. Could this be a sign of more m a in the pipeline . And here in london, we get the latest unEmployment Data 23430 minutes. Has the rate dropped closer to the knockout for forward guide yaps . If thats not enough, the London Stock Exchange is playing host to russian Business Leaders. Thats a first on cnbc at 10 40. But first, as you might expect, u. S
Share. More than 30 people have been killed aafter a blast rips through a market in china gin jiang region. When you look at what has happened in russia, if you dont have the guts to invest here, you better stay at home. Youre watching Worldwide Exchange, bringing you Business News from around the globe. A warm welcome today, this is Worldwide Exchange. Well be in ukraine and st. Petersburg fairly shortly. The health of the ecb. The flash composite pmi coming in at 53. 9, exactly as expected according to the reuters poll. It was 54 in april. The composite output price index, 58. 7. Flash pmi 52. 5. Thats a dip down from april. It was 53. 2 in the poll. The services pmi 53. 5. Its a tick higher from the 53 in the reuters poll. Its weaker than we might have expected. But that all means that the composite number has come out on the same. Its worth pointing out this morning that the french composite pmi flash was estimated at 49 3. In the First Quarter we saw france was flat gdp growth. Th
This is real money. You are the most important part of the show. Tweet me on eighth al ali velshi. Or facebook. Comali velshi. Vladimir putin flew into change high to chum with his chinese poun counterpart. While they still have not signed a gas pipeline agreement, some say its only a matter of time. This is not just about business. Its also about political security. And the growing confrontation with the west for both china and russia. Russia is the worlds second largest producer of gas and Third Largest producer of oil trailing only hyped the United States and saudi arabia. But there is a vulnerability for russia because threequarters of its experts right now of its exports right now go to europe. The di veers flying from europe is key. Lets look at china. Its on a coalition course with the u. S. And its allies as it continues to asserting its rights in the oilrich south china seas. Two banks in russia and the bank of china is making waves. Both of these two banks agree to do busines
This is real money. You are the most important part of the show. Tweet me on eighth al ali velshi. Or facebook. Comali velshi. Vladimir putin flew into change high to chum with his chinese poun counterpart. While they still have not signed a gas pipeline agreement, some say its only a matter of time. This is not just about business. Its also about political security. And the growing confrontation with the west for both china and russia. Russia is the worlds second largest producer of gas and Third Largest producer of oil trailing only hyped the United States and saudi arabia. But there is a vulnerability for russia because threequarters of its experts right now of its exports right now go to europe. The di veers flying from europe is key. Lets look at china. Its on a coalition course with the u. S. And its allies as it continues to asserting its rights in the oilrich south china seas. Two banks in russia and the bank of china is making waves. Both of these two banks agree to do busines