We are live from bloombergs European Headquarters in london. Coming up this hour, autos. Peugeots first half earnings surge. We are speaking to the cfo live from paris in about 10 minutes time. Make sure you stay tuned for that. First up, barclays german john mack farland says hes going to step up the pace of cuts to the british lender. The Bank Reported secondquarter profits of 1. 8 5 billion pounds. That matched analyst estimates. Profits at the Investment Bank jumped 35 . For more, we are joined by our london finance reporter, julie of her lane. Julia these results sound like mcfarlane is ready to take the bank by the scruff of the neck. Julia he is going to run down the noncore by 2017 to bring down riskweighted assets. I think he is there to accelerate the whole process that jenkins started. You had equities down 2 and Investment Banking fees down 11 . It has been offset by the macro performance. Manus in terms of these job cuts, where do we think they are going to come from . Wil
Welcome to what will be a pretty intense show as we gear up toward that inauguration in about nine days from now. We have a new report from the World Economic forum on global risk. They talk about unemployment as one of the big risks. Inequality and increasing polarization. What they mean is the polarization of politics within various countries. Weve seen it with brexit, with trump, but also polarization in terms of various countries around the world. They talk about environmental risk. Not also talk about Society Keeping pace with technological change. We will speak to the chief author of the report a little as wen in surveillance also geared towards davos, which starts next tuesday. First things first. We will check in on the markets. This is european equities. I would suggest that most of the moves and the most important moves are going on elsewhere. It is currencies, but also the emerging markets. This is a picture we are seeing for the turkish lira, hitting a dataow ahead of the l
Live from bloombergs European Headquarters here in london. We have a great show. We talk brexit with a merkel ally. E speak with a Prime Minister we are live in russia speaking to the ceo of the Worlds Largest diamond miner. Roneyspeak to paolo scott paolo scaroni. We will speak to him about whether we can see every cover. The Global Markets a bit on the upside. They are recovering losses. The european stoxx 600 getting 1. 3 . We talk about what we heard from japans finance minister. At 142. 66 ound 1. 4266. I want to show you what the polish swat the. Anything that affects the pound will affect swissie. Lets get to the bloomberg first word news with nejra cehic. Both sides of the Eu Referendum debate has suspended their campaign for a second day after the killing of an mp. Jo cox died after being shot and stabbed as she met voters in her West Yorkshire constituency. A 52yearold man has been arrested. She was a committed member of the remain camp. Witnesses said britain first as he att
Bloombergs European Headquarters in london. Im Francine Lacqua. Lets check on the markets. We had quite a lot of volatility on chinese markets. The shanghai composite finished the day lower by 6. 4 . In europe, the stocks are gaining. They climbed for the first time in about three days on the back of lloyds gaining some 9. 2 . This is after the bank raised its dividend. It is the first time in about five years that the ceo got compensation increase. Crude, we will speak about it with Paolo Scaroni. Lets get to the news with nejra cehic. Nejra apple ceo team cook believes helping the u. S. Government unlock an iphone used by one of the San Bernardino shooters would be bad for america. He explained to abc news why he was fighting the judges order. We know that doing this could expose people to incredible phone or ability. This is not something that we would create. This would be bad for america. It would also set a precedent that i believe many people in america would be offended by. Whe
And a morning. The ec and a warning. The ecb says they must be wary of introducing fresh stimulus, but are they moving closer to draghis position . We will hear from bundesbank throughout the show. And weve got the imf pushing for bold fiscal action, goldman pushing back on that. Where did they see Monetary Policy in the next . In the mix . Hans he says it will be data dependent. Normally, the german voice tends to be, well, quantitive easing can be counterproductive. Theyre specific, saying they wont be for it. I heard a central banker in frankfurt yesterday who was open to the idea of doing something more, but he clearly wants to tweak it. He may be closer to that theater constantia position. He didnt explicitly say it, but he seems to walk up to it. Guy we will talk about that later. S an i have plenty to h hans and i have plenty to kick around. Lets look at what bloomberg is telling us. A fairly positive open looks like the risk is creeping back into the Service Sector data, clearl