S p and fitch approve their assessment of the u. K. s Credit Outlook, but the pound continues to slide as fears of a Nodeal Brexit mount. Fedex in freefall. The carrier cut its profit forecast for the second straight quarter. Deutsche bank called the results rest taking lee bad breathtakingly bad. A 5050 merger. Of course, one is buying. The others. We will sort out which. They will sell some of their steak but not all in peugeot. Lets get more on that major socalled merger with milan. Ureau chief tommaso i know that pr wants us to believe this is a merger of equals as so many do. Is psa buying fiat . Tommaso good morning. Good morning, matt. How many times we have discussed on bloomberg tv about the industry. Now, the deal is really announced after more than one month of talks between fiat and peugeot. The question the answer to your question is fiat and peugeot will put together their 5050 percent company. Actually, the new company will have half the shareholders by fiat and half by
Losing month for 2019, first may decline for 2012 this morning you see modest green arrows s p futures up by 2 points and the nasdaq up by about 9 points. Overnight in asia markets slightly stronger. President trump coming back from japan. You see the nikkei closed up by a third of a percentage point. Similar gains for the hang seng and the shanghai deposit up about 0. 6 in europe its a mixed picture. The ftse up by about a tenth of a percent. Stocks are weaker in it will i and in spain as well if you talk a look at whats been happening in the treasury market in the United States, youll see the tenyear is yeeling, wow, 2. 89 , so below 3 . This morning alibaba deba debating whether to offer new public shares in a second offering, this time to hong kong reported will i they could raise up to 20 billion. Theyre currently working with financial vuzers to offer the listing as early as this year. The Company Initially listed in new york in 2014 raising a record 25 billion shares of alibaba
Will get 300 million from jpmorgan and the remaining will be split between the securities and Exchange Commission and the uks conduct authority. We do not know whether jpmorgan has admitted wrong doing. The firm has said there were errors in its oversight and loopholes to allow that trade to happen and get as big as it did and to cause the steepness in losses that it did. But we havent seen a formal admission of guilt to a regulator. That is expected, if it does happen, to come in the release from the securities and Exchange Commission, which we have not seen hit the wires yet. But this is a coordinated settlement with all of those four regulators, 920 million in fines. There are a lot of allegations outstanding at the department of justice and cfdc and reported criminal investigations ongoing as well. Certainly this is a major milestone for jpmorgan in set e settling these issues but theres a long way to go. Kayla tausche, thank you very much. Kayla mentions the number of agencies tha