Bank of america, saying they expected benefit from higher Interest Rates and a lower Corporate Tax rate. Brian moynihan says that pretax earnings rose year on year. There is what it is doing, up by 3 10 of a percent. Not Much Movement either way. Allison is joining us. Surface this looks like a pretty solid report. Walk us through it. Allison still going through the numbers, but so far so good. Trading is a number we always look at, a little bit better. Fixed income is a little better, equities a little better, in banking they had a oneoff charge. David who do we think that might be . 880 million driven by a single name, nonus commercial chargeoff. David South African maybe . Alix steinhoff . Allison and i guess the surprising thing would be if you did not see it. Alix it is exposure i think. Allison we were joking the other day, the term episodic, but that is a better term than a oneoff or not occurring, because it is the cost of doing business. David the other thing we do not see is
And now United Technologies is apparently considering it. The manufactured a threeway split is possible, a thought to beonce very unlikely. Investors cheered the ideall init sending shares of ut up more than 3 , making it the best performing stock on blue chip dowin decks today. Morgan brennan takes look at what could be next for united tech. Reporter all it the urge to demerge. Just a month after General Electric said its considering a potential breakup of its core businesses, another industrial heavyweight, United Technologies, saying it, too, is reviewing options. The real question is do you get a significant multiple expansion by having separate companies versus the congmerate or the fou businesses of utc . Tough, tough questions. Would tell you that we are looking at all of those possibilities as well as even within the portfolio that we have today, does everything fit . United tech operates in three main industries, aerospace, elevators, and h vac systems via carrier. The company
I think it will be a pretty polished sort of thoughtful speech as opposed to just offthecuff. There is a lot of anxiety. You may have detected it already about the kind of tone that the president is going to strike. What kind of tone would you like to hear from him . I think hes basically economically focused. With theconsistent World Economic forum. He has spent a lot of time in that area whether its on tax reform which was successfully and whether its getting rid of regulations and other things to boost economic growth. I dont know what is in this speech. I would assume there will be a bunch of time spent on those and the goodness that can happen when you get an economy growing at a much faster rate than we did for the previous eight years. Erik blackstone is a global investor. You travel the globe almost incessantly. Is there a risk to the president and the United States if he were to beat the America First drum too loudly . I think it has been pretty loud. I dont know that you coul
If you do anything online, from storing photos to buying stuff, chances are you rely on the cloud. We speak to tech boss who explains why its big business. We will speak to the former boss of ebay. Today we want to know. Are you worried are about storing precious stuff from cherished photos to personal data on the cloud . Let us know. Just use the hashtag bbcbizlive. Hello and welcome to business live. Its the final day of the summit involving leaders of brazil, russia, india, china and south africa also known as the brics. The group has been quick to condemn north korea for their Nuclear Missile tests, but discussions have also centred around kick starting global growth. While the white house is pushing a protectionist trade agenda, chinas stance is different. President xijinping wants to use this summit to promote what he describes as an open world economy. Then theres the brics bank a smaller, alternative to the world bank used by governments to Fund Infrastructure projects. It hand
Backup is towards sfo. Southbound speeds below 10 Miles Per Hour approaching the scene. Slowdowns northbound, as well. Live look at 101 at poplar. Chp is Holding Traffic in some lanes. Broadway to university a 30 minute ride, probably will get longer. Use 280 as an alternate for the best bet and then reconnect with 92 to access the san mateo bridge. We are doing the happy dance in the Weather Department because fall arrives this afternoon and, boy, love me some month of october in the bay area classic weather pattern setting up today. We are looking out at the beautiful bright lights of the port of oakland. 42 santa rosa. We have not seen that kind of a temperature you have to go back to march for that. 54 in livermore. It is 50 in san jose. You need a sweater or a light jacket heading out the door. The winds are up to 12 in San Francisco. 7 antioch. Calm in napa but later today, winds southwest and west 10 to 20 Miles Per Hour. We are starting to see the beginning of an offshore push,