A 72 drop in profit as it faces challenges in the up and down stream businesses. Good morning, i am here in zurich. We have a lot of earnings to go through. And markets are on the move. Euro area Economic Confidence rises a little bit. It is the backdrop of Central Banks struggling with their monetary economics. There are some pretty good numbers going on. We have a great show today. Zurich,ith francine in with what the fed is m doing in washington and what people see from the bank of japan this evening. Now, to the first word news. President obama made his most forceful case yet for Hillary Clinton. He offered a stirring endorsement last night. President obama and that is why i can say with confidence, there has never been a man or woman not me, not bill nobody. Nobody more qualified than Hillary Clinton to serve as president of the United States of america. Clinton joined the president on stage after the endorsement and they left to loud applause. Bloomberg is the parent of bloomberg
We are here in london. I am guy johnson. What do we have coming up . Ready for recovery . Legal woes may be a thing of the past for hsbc. The bank reports results in about 15 minutes. We will bring you those numbers as we get them. Ppi could still be a big problem. We are going to talk about that. We are taking you to our top story. Portugal is taking control of boko a spirit of center Banco Espirito santo. Mark is here with the details. A lot of money. How is it being spent . It is being spent by the bank of portugal, the central bank. Up Resolution Fund was set in 2012, financed by the countrys 84 banks. They will take over the bank as a whole. Suspended shares on friday. It will move most of the assets and put it into this new bank, baank , which is new bank. It will use the proceeds when it sells the bank to pay off the treasury. So the Resolution Fund to the bank. Exactly. Within the central bank. That is what has bailed out Banco Espirito santo. Luckily, portugal still has 6 bill
Total, both reporting profits of 2. 6 billion. Guy lets find out more. Will kennedy is he appearedare. Training did well and refining to ball. The oil sector is not looking to shabby. Will beating expectations by more than double which is not bad. Profit fell by 20 . What stands out is trading. Bp employs hundreds of people to buy and sell oil. When prices are lower, they can save money to make more bets. Francine we have bp and total. Who did better . Will total had the bigger, higher number but bp beat expectations. Bob dudley will be the happier of the two ceos. Guy the refining operations where does the Lower Oil Price leave that. That is a total story. Will total is the Biggest Oil Refinery in europe and when prices fall, you put more oil in your car. Refiners outperform. What youre seeing is the resilience of the integrated mobiles. Your upstream does not do as well but you get some of that bacteria are finding and trading. Francine if we have the oil in this range between 50 and
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