Deutsche bank has lost records of electronic chats linked to the interest probe. Now the biggest bank is trying to recover the messages which it says it yelled archive. It failed to archive. Welcome to the program. Its friday and you are watching countdown, live from london. Its 6 00 and lets get to some breaking news. We will start with the aviation sector. Airbus. Njera hi, anna. We have the first half revenue number 48 billion euros. Airbus has also confirmed its first half guidance. We gave an update on the a400m deliveries they have resumed, 290 million euro charge. We are waiting still for more numbers to come out. Dividend per share is to increase in 2015. The big challenge for airbus overall is that it has a lot to deliver in termsand it seems like the first half guidance is coming as normal. With the a400 there was that crash of the military aircraft. The ceo did say back in may that that would jeopardize the earnings goals, and today we have heard that the deliveries have resumed. Another headline they are on track to hit 2015 targets. We might see it move a little higher, given that they say it will hit its targets. Back to you. Anna thank you. Nerja with the latest out of airbus. Thats good to breaking numbers from bnp. Frances largest bank is swinging to the highest quarterly profit in more than three years as trading revenues rise. Lets get the details with Caroline Connan who joins us from paris. Caroline . Caroline it is a very different situation from just a year ago, when they published a 4. 2 billion euro loss following the embargo. Today they are among the highest quarterly profits in more than three years. Net income is at 2. 6 billion euros, revenue was up 16 . Thats beating estimates. We can explain this good set of results by three things first, the good performance of the advancement bank pretax profit is up 26 to one billion euros. They also booked of 420 Million Euros gain from the disposal intake. Finally, they are seeing the european economy that has the most interesting. I asked the cfo. Have a listen. For us as a eurozone bank, when we look at all domestic markets we indeed see those green shoots. Credit demand has gone up 1. 5 . We also see that going down, risk going down in italy. In total, the bottom line is going up 14 . We see the first progressive evolution on those green shoots. Caroline in italy you were mentioning the cost of risk going down does that mean you are reducing provisions faster than expected . Lars what we see is the cost of risk going down. There is of course the entry and nonperforming loans, which is slowing down. That is on the back of all the repositioning that we have done in the recent years. Of course, the Overall Economic environment in italy is in better shape than it was over the last couple years. All these things together lead to this. Caroline and france, your main to mystic markets revenues are still slightly down, 2 in the Second Quarter. Frances underperforming . Lars no. As we said, in france the current inactivity is declining. We observed that the it is impacted by the rates environment which has to do with several things, and basically the bank is oriented to also offer declines and we see that the commissions are picking up well. Caroline of course, some uncertainties remain in the european economy. Revenues were slightly down for france, about 2 . Also for italy, 2. 7 . The cost of risk is going down. And following the bloomberg exclusive information we had yesterday regarding the cib reorganization bnp is indeed confirming that it is reviewing it, trying to make it more efficient. However, he will give us more details about the plans by the fullyear results in february. Back to you. Anna thank you. Caroline conan in paris. The trio of creditors meets in athens today. Alexis tsipras is trying to stamp out the opposition in order to secure a bailout. Meanwhile in washington the imf reiterated its stance in the greek crisis no debt restructuring, no bailout. Lets get to hans nichols in berlin. Hans, good morning. What has tsipras been up against . Hans well, he faces a rebellion in his own party. He stared them down t draedared them to challenge him. Here is what he said whoever thinks another government and another Prime Minister could do better should spoke up. No one spoke up. Heres the important thing they are going to have a Party Conference in september, to vote or have some conversation about the 86 billion, what we think will be an 86 billion euro package. The important thing about the september meeting is after this bailout package, likely would be renegotiated. That means it will be a yes or no vote. Mr. Tsipras can always go back to the wobbly center to 251 members that supported him last time. Another crucial thing about these meetings today, the finance minister is meeting with the troika. The first meeting between the troika and the finance minister. We will see how much progress hes made on that front. Anna hans, what about the role of the imf . They are just reiterating something theyve already said but the more times they say it the more times we have to consider what it means for the bailout. Hans the more difficult it will be for germany to get the parliament on board here without the imf. That has always been a criteria to vote in the bundestag you need the imf. It doesnt look like they will be on board unless there is clear debt reduction. On top of that there is a report in the Financial Times that says the staff member recommendation to the board of the imf that they not go ahead with the third bailout package. The board can always overrule and the imf. You taking place in the troika. The interesting thing about the story is that it could delay any sort of imf participation. Sometimes later in the fall, after the bundestag vote. There is one of them makes it likely that you will have a vote. Then you have this imf doubt. Its not certain that they will participate in the third bailout. Anna hans, thank you very much. Hans nichols from berlin. Lets get over to asia now. July has shaped up to be another troublesome month for the chinese stock markets. Despite all the volatility Christine Lagarde and others are bullish on chinese equities. Juliette saly is in hong kong. Juliette . Juliette we certainly heard those comments from Christine Lagarde earlier in the week, saying the chinese economy is resilient. Lets have a look at how it hasnt been resilient over this past 30 days. This is the 30 day chart, the july chart for the shanghai composite, down by 14 , its worst monthly decline since 2009. As you would expect, the worlds worst performing index for the month of july. We have been seeing wild swings coming through since the intervention by the government on july 8 and those pitfalls we saw on monday and tuesday. At the moment, the shanghai composite is down by around. 8 , hong kong coming down. It has been a brighter day in the asian region switch is still on track for a monthly loss but we have seen the third day of gains, supported by good buying coming through in australia. A lot of earnings are out in japan, and theyve been mixed. New zealand, jakarta malaysia the more weaker spots. Disappointing Bank Earnings sending the index down by 1 . Samsung came out with its numbers weighing on the overall cost of the index. Everyone is watching the shanghai composite to see what it will do in the final couple hours of trade. That is when we have seen all that volatility, normally in the last 90 minutes of trade. We have two hours left in china, in most investors are hoping for july to and into wrap up and see all this volatility close up for the month. Anna juliette, tell us a little bit about the japanese inflation story. The government is really trying with those inflation numbers. They are seeing some tentative signs, but it is very slow process. Juliette it is an incredibly slow process. Every effort the japanese government has tried to push it to the economy to try and get the inflation toward 2 doesnt appear to be where the government wants. But todays number was a little bit more on the positive side. We havent seen too Much Movement coming through in terms of market reaction, but thats because there have been so Many Companies coming out with earnings. We have a number of other Companies Come through and the fact that a lot of them have missed expectations fujifilm Japan Airlines coming through weighing on the overall index. But certainly that 2 inflation target is looking a little bit unlikely at this stage. Anna thank you. Juliette saly from hong kong. Lets stick with the Inflation Inflation figures were out this morning. We will also get data out later from the eurozone, and from italy. Both those inflation figures at 10 00 u. K. Time, 11 00 if you are in italy. We will bring you those numbers as they break here on bloomberg. As we had to break, we want to know your answer to this question our twitter question of the day with the european progress outstripping those of the u. S. For the First Time Since 2008, how positive are you on Global Growth . You can tweet me countdown. The strength of the european earnings through those airbus numbers, the second Largest Spanish Bank reporting better than estimates. We got the numbers from bnp, highest since 2012 and the steel sector is also beating estimates not dropping guidance as some people feared they might. A strong start to the earnings season just atoday. Get in touch. We will take a short break. Coming up, the target continues as Deutsche Bank scrambles to recover old chat logs that were disposed during the probe. We will bring you that story and ask whether it could reopen that conversation. Anna welcome back to countdown. Its a 17 minutes past 6 00 in london. Here are the stories you need to know this morning. The troika is set to be the greek cabinet minister for the First Time Since he swept power. He will welcome representatives of the eu, imf, and ecb. This comes as the imf has reiterated that it wont support a third bailout for the country without an explicit, concrete commitment from the euro area to ease greeces desperateebt burden. The crash he has spent the last three months in jail. His appeal is set to go before a london court in august. Deutsche bank is trying to recover internal electronic chat transcripts left out of disclosures to regulators during a probe into Interest Rates according to people briefed on the matter. A Software Glitch caused one of its chat systems to fail to archive files, as far back as 2005. Lets get more on that story out of germany. Hans nichols has been pouring over the details in berlin. Hans, more problems with the new ceo. Hans yeah. Presumably mr. Crane do about it because the disclosures are made in may. He had a great day with betterthanexpected earnings but today is not such a good day, in part because that 2. 5 billion settlement over the libel probe could be in doubt because of these missing chats. Thats according to a person familiar with the matter. One of them is investigating the new York Department of financial services. Still, his new shop has always been the hardest regulators. The european banks here is how a Deutsche Bank spokesman put it yesterday. After we discovered this software defect, we reported it to regulators and are presently working with them to rectify it. At least one person familiar with the matter said that the chats you have been recovered so far dont fundamentally alter the agreement. They dont have to do with the libor scandal. However there is a danger that some chats will be permanently lost, and that could be a big problem. Anna hans, thank you very much. Hans nichols in berlin. As weak as earlys from oil and gas is today bg group is up for a look at the shell takeover and how profits could be hit i fall in crude prices. Phillip, thank you for joining us. Is this going to reduce the share of coal in a Global Energy mix . Is that has significant the steelers . This deal is . Phillip it looks like the companies are really getting serious trying to reduce emissions and self products and this is gas rather than coal. Bg is one of the Biggest Companies however it looks like this deal is something of a single thing, because there are not that many other Gas Companies that are for sale on the scale of bg. Nobody will buy gas from other big Gas Companies. Looks like it will be a single thing. Anna he was saying yesterday that this was the big deal in the industry that made sense. We asked whether he was surprised that the low oil prices have incurred havent encouraged more business, and he thought that maybe this was the big deal. Are there any bg assets that shall might want to sell . Anything they are going to inherit . Philipp one big asset in that category is egypt. Egypt turned from a net exporter into a net importer, because the domestic demand has been very high in the production has come down. The excess supply in egypt went down a lot. Things are changing in egypt now, but its just a question of how patient show will be with his egyptian assets. It could be that before things improve shell might want to put its priorities somewhere else, and that could be something. Anna will the deal turn shell into an undisputed leader in lng . Is that their goal . Philipp right now it looks like shell has a very strong head start. It is becoming the biggest lng producer in the world. Lets see if total or exxon are bp will be able to catch up or else chevron. It may be with organic projects, so there is a lot of new lng product being developed now. But with acquisitions, it doesnt look like it. Anna how was the fall oil price affecting a businesslike bp . We will hear from them at the top of the hour. How do they manage in this environment . We have a lot from the oil majors about doing the benefits of a diverse business, refining and marketing alongside production. How does a businesslike bg cope . Philipp the gas prices are links to the oil price with a couple of months lag. Its not like refining where you have a hedge against oil price. It will also affect bgs business, just later. Anna ok. Philipp, thank you very much. Stay with countdown. We will bring you bg group groups earnings as they break at the top of the hour. That will be followed by a exclusive interview with the companys ceo. He will be speaking to us a little bit later. A reminder that later in the day we will also hear from the American Energy giant exxon and chevron, at 1 00 and 1 30 u. K. Time. A real focus on Energy Businesses early in todays trading session. Lets turn our attention back to some of the earnings weve had out this week. Linkedin shares fell after the social network attributed above that its revenue forecast to its es acquisition of a new website. Some are concerned that growth is slowing and its main business. Stay with the social scene but in a different region. Saudis are the biggest consumers of you to per capita and they are also big producers of content. In a country where censorship is common, bloomberg caught up with the ceo of youturn one of the biggest producers of youtube videos. Youturn is an Online Entertainment network. We started in 2010. The whole idea was we wanted to create content. Its actually what people in the saudi streets are talking about. It is whats written on newspapers, that you cant say on national television. You get to see a female on a show where she talks about female related issues. She says the most important mail and a saudi females life is the driver. We have 1. 6 billion views so far. We have about 30 million followers, subscribers through different social c platforms. We have 35 shows. Since we started, we try to be balanced. We are aware of where we are in this part of the world, we are aware of whats happening around us. We know what we can do. That does not mean we dont do it safely, but we tried to be edgy not too edgy. Unfortunately, most advertisers are convinced that tv works. Some are still skeptical, that every day there is one more that converts. You have more people committed to being transparent. You have the number of views of cnn. Anna edgy, but not too edgy. European earnings season continues we will be back after a couple minutes. The only way to get better is to challenge yourself, and thats what were doing at xfinity. We are challenging ourselves to improve every aspect of your experience. And this includes our commitment to being on time. Every time. Thats why if were ever late for an appointment, well credit your account 20. Its our promise to you. Were doing everything we can to give you the best experience possible. Because we should fit into your life. Not the other way around. Anna welcome back, you are watching countdown. Its 6 30 here in london. We are just getting news from the french chain, two to report its numbers this hour lets get to nerja. She has the details, or at least the preview. Nerja its a preview at the moment we havent got the Second Quarter numbers yet. The estimate for secondquarter sales are 21. 3 billion euros. In the First Quarter, we were looking at sales coming in just above prediction because growth at home and in brazil compensated for weakness in china. This has been a bit of a weak spot, because we did get some numbers earlier this month. This is frances biggest retailer were talking about, car for reported slowing sales growth earlier this month that business that Chinese Stores were weighed down by week consumption. It will be interesting to see what they say about china. Interestingly, our quiz said that 25th barclays said it would be a big question. Anna nerja, we will see. Thank you. Here are the stories you need to know this morning. The fitness chain known for its feelgood Indoor Cycling files for an initial public offering. The company is one of the more highprofile players in the health cra