The doj. Bank and the german lenders negotiations with the u. S. Department of justice are set to continue despite a report of a breakdown in talks. When will john cryer get a deal . Key question of course. It is that move on Deutsche Bank. The bank is behind me here in frankfurt, touching down on futures. Slightly underperforming the rest of the market. We are seeing markets on the equity front looking a little more positive. The british pound, down by 0. 4 this morning. Again under pressure. 123. 86. How will it trade through the week when we saw negative equity markets on friday. We are lucky to get a positive start this morning. Let us get you caught up on what you need to know. Deutsche banks negotiations with the u. S. Justice department to result a yearlong investigation into the lenders handling of a mortgagebacked securities are continuing. Earlier, germanys newspaper reported that john cryer was not able to reach an agreement with the doj. Declinederson does to comment on the
Uncomfortable to learn through question thatt a posed nearing a town hall last march in flint, michigan. Cnn announced that it had accepted braziles resignation two weeks ago. Revealedial reportedly for least a second time brazile had communicated about questions of candidates might be asked on the air. Islamic state claiming responsibility for a suicide car bombing at a popular baghdad market. At least 10 people were killed with dozens more wounded. The blast was one of several in the iraqi capital this weekend that left a total of 17 people dead. Remarks call into question Key Assumptions about who will step swn after president xi reshuffle next year. Saying retirement rules need to asflexible and revised circumstances require. Global news 24 hours a day in over 120 countries. Im mark crumpton, this is bloomberg. We are 30 minutes from the close of trading in the u. S. Scarlet racing news crossing the bloomberg breaking news. More on this and how the stock is reacting, you only need
I didnt think about it with the tie. Do you have an orange tie . I do own an orange tie. But you never wear it. I never wear it. Are those pumpkins from last year . No. Those are not. Okay. Can you imagine we had things made exactly like us. I have pictures of those. Those arent actually us, are they, andrew . Remember in the past our face has been on them. Our face has been on them. But not these. I apologize, we are going to talk about the markets. We have breaking news the tell you about, we talked about it a little on friday, but now its official. General electric and baker hughes are merging their operations. Now there was a lot of conversation about whether ge was effectively going to be selling its business. We talked about whether this was all happening at the wrong time. This is now what is happening. They are merging the oil and gas operations into a new company that both companies will effectively own. They are looking to get 1. 6 billion in synergies annually out of this tr
Steady, moderate losses in europe this morning. And Consumer Spending rises to the fastest in three months. Road map begins with ge confirming the deal to combine oil and gas business with baker hughes to create a new entity. Well speak with the ceos in an exclusive interview. Weve got a deal in the telecommunications industry. Centurylink to buy level3, totals a new record month for u. S. M a announcements. And the latest controversy over Hillary Clintons emails as the polls tighten just eight days ahead of the election. Well get you all the market impact. First up in that deal to create what both Companies Call a new baker hughes, ge will contribute 7. 4 billion to fund a 17. 50 per share special dividend for baker hughes shareholders. Ge will own about 62. 5 of the combined company. As we said, next hour an exclusive with jeff immelt, chairman and ceo of ge, and the ceo of germanwin oil and gas, i craighead. You said it would be the ultimate buy high, sell low. Thats not the case he
Time, and this is going to create tremendous value for our customers and, really, our investors. This is a good deal for investors. Speaking of timing, martin, it has been a challenging one for your industry. Oil services hundreds of thousands of layoffs. Where does that leave the industry . Are the layoffs done, and is there a sense that youre on the brink of a recovery . You know, sarah, we all hope that the layoffs are done. As ive said over and over again, thats the most difficult thing about this industry. That all said, you know, when you have these two great franchises coming together as lorenzo talked to the synergies and the example that we gave on the investor call this morning, so much of it is going to come out of product redesign and bringing that engineering expertise to play. Being able to leverage a much bigger spend, you know, in excess of 20 billion annually into the marketplace in terms of our combined supply chains, these are the efficiencies that will come and get