Anna is off today. Bloomberg reporters are standing by across the world, ready to deliver the stories that will drive your day. U. S. Prosecutors are seeking more than 13 billion from bank of america to resolve an investigation into the mortgagebacked loans. Jon ferro have the latest on that story. Zeb eckert will break down the inflation data. Caroline hyde will look at amazon. Can the worlds Biggest Online retailer keep growing . Now to our top story and a bloomberg exclusive for you. U. S. Prosecutors are said to be seeking more than 13 billion from bank of america to resolve investigations on the sale of mortgagebacked securities. Joining us now is Jonathan Ferro. This is all about the runup to the financial crisis. The bonds that were sold back to buy home loans. We know what happened to those mortgages and those bonds. It was not ready. Pretty. That is a lot of money. That would be on top of the 9. 4 billion the jpmorgan fines. These numbers just keep on getting bigger and bigger
Hello. Welcome to countdown. Im mark barton. Before we go to lloyds, lets go to b. P. B. P. Has crossed. They are saying their Third Quarter profit came in at 3 billion, above the 2. 93 billion estimate. They say they are maintaining a strong framework. Replacement costs 9 billion. 2. 39. Were waiting on their production . S. Expected to be about 2. 5 Million Barrels per day in the last quarter. Thats what were expecting to see. Well have to see the detail in this. They own 20 of russias largest roducer. Output, 1. 3 Million Barrels a day is better than what they were looking for. Crude prices dropped 5. 5 . Liabilities for the gulf of mexico oil spill, 50 billion is the new figure . Thats right. They are still on the hook for the gulf of mexico spill despite the fact that it has been so many years. There is a lot of uncertainty. They have been found grossly penalty in but they want a new trial. Grossly negligent of the spill that comes with a financial penalty. Lets talk about lloyds
Our mistakes, to our weaknesses. And own up to our solutions and contributing to our solutions. So that we can even tell our story. You find we even depend on others to tell our story. So thats how destruction has come about. So i really think theres not much time to waste as time goes with africa, in terms of building this consensus, this working together, this owning up so that we cooperate and partner with others rather than being too dependent on them. So this is an opportunity we have to leverage this partnership and to address that particular problem. Thank you very much indeed. Firstly, i would like to agree with my brothers that lets take ebola as a disease that is affecting humanity. Rather than just to look at it as an african problem. Fortunately, i said earlier africa is organizing itself. Even the Health Organizations continentally are working together. Thats why were confident that this time around, we are working together to address this problem of ebola. But i must also
Some catching up to do. Foreign investment in africa has reached record highs, but that the United States is being led more by its domestic policies and we are letting europe and china grow at a faster rate. While our exports to the continent are at a record high it is also true that only 2 of our total exports go to africa. And that means were missing out on a major opportunity to create jobs here at home. In america theres a disconnect between the reality of the African Market and the perception of the African Market. And this conference is aimed at fixing that. Countries and companies that ignore the African Market do so at their own peril. And that will become increasingly true with each passing year. The business that i own, bloomberg lp has offices in six countries in africa, eight cities, employing more than 160 people, including more than 120 fulltime and freelance journalists and we are growing there. In fact the First Business trip that i took after leaving office in january
Toward the gdp number in the u. S. Well have an interview with the boss of jpmorgan, jamie dimon. His views on the election and his outlook on the economy. Microsoft is unveiling its windows 8. Well have the latest plus indepth analysis at 11 45 cet from new york. At 10 20, were heading to hong kong. Big day for earnings from chinese lenders. And then at 1 ch11 50, were in chicago and Third Quarter u. S. G gdp. Apple corporate figures up 24 , but it missed analyst forecasts. Second straight miss for the company. Revenues rose 27 , slightly better than expected. Apple sold nearly 27 million iphones. The iphone 5 was released at the end of the quarter, but ipad sales were well short of forecasts. Apple First Quarter guidance which includes the Holiday Shopping season also trails analyst estimates. Lowist figure in around four years. The stock in frankfurt just off marginally around three quarters of 1 . Also amazon had his first loss since a drop in the value of it stake in Living Social