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Facebook surges as advertising revenue holds up amid the pandemic. Socgen. Hear from later, shell ceo. Dont miss it. Manus good morning to you. 1. 7 3 billion people on facebook during covid19. Socgen doing more than being on facebook. It loses 326 Million Euros in the First Quarter. The Global Banking division, revenue down. Down by 27 . The revenue at the bank is down by 16 . You have a net loss in terms of guidance, expressing their guidance for the cost of risk in basis points. They are saying 70 basis points in 2020. The underlying return on equity is a negative number, 0. 5 . Loss revenues dropped by 16 . Global banking revenues crumbled by 27 . Those are the top lines. We talked we talked to the Societe Generale ceo. We the nejra virus clouding the future for ....
Largest economy in europe for 2019. There are more concerns about the global trade deals than there was yesterday. You can see european stocks pretty much flat. The dollar pretty much a steady. We are getting some data out of germany shortly. We also speak to the dallas fed president , Robert Kaplan at 3 30 p. M. London time. Lets get straight to the bloomberg first word news. Now, u. S. Story for tariffs on china staying put. The Trump Administration is likely to keep them in place until after the president ial election. Any relief is also contingent on compliance. Steven mnuchin and says tariffs wont be removed until the next stage of a trade deal. These tariffs will stay in place until there is a phase two. If the president gets a phase two quickly, he will consider relieving tariffs as part of a phase two. It has nothing to do with the election or anything else. Toda ....
U. S. And chinese negotiators agree on a tariffs rollback if and when a trade deal is reached but stocks and futures slipped from asia to europe. In europe, Jeanclaude Juncker says President Trump will spare autos from tariffs ahead of next weeks deadline. The hong kong protests caused revenues to slump. The city prepares for another weekend of demonstrations. Good morning. Matt good morning. Less than a halfhour from the start of u. S. Trading. We saw haven assets really catch a bid, especially over the last few days. This is the threeday chart of treasuries. You can see the yield jumped up past 195. It is coming off a bit today. Right now, we see 1. 91. Yesterday, we saw a real change in sentiment, it looks like. For example, gold, which had been catching a bid in the last few weeks and months on concerns about the trade war, dropped 30. We will watch that and talk abo ....
The top line kicking into high gear in the fourth quarter. Confirming its third year out look telling cnbc europe it is on the road to recovery no doubt we should expect midseason expectations we are clearly seeing a turnaround that is not a reflection of the gdp. We do not expect any substantial improvement in the economy wildcard doles wieals with aa at the fintech firm. Soft bank is stung by weworks failed ipo. There are lessons we learned about going public those lessons should be learned by everybody who wants to go public good morning, we are getting some good news out of the european economy to give you the final composite number this is higher than the initial estimate of 50. 2 the services as well, weve had a couple of Services Come out. Final services pmi has come in at 52. 2 versus 51. 8. We saw a final break down to bring you those. The final number for france was much higher than expectations coming in at 52. 6 versus ....