Listen: Bloomberg, United States, Bank discussed on Financial Issues
"On off year. Can't move. Let's do that. I mean, it's reported a first-quarter loss because of rising fuel costs and downward pressure on fares. And it's really looking especially bad since the same period last year. It had really good results after the collapse of air Berlin. And generally, this reflects weakness all across European airline industry after you know, bad weather and some air traffic, control strikes. So it really is reflective of broader pressures in the industry and B C today that it's about four percent, Germany, the Lambda was well sticking with German stalks. What are we hearing here? Right. I mean is Atlanta on the other hand has some really good news. It said that it was profitable in the first quarter after earlier analysts actually estimated a loss of ten million euros independence is really quite a pleasant surprise. And it comes after a few quarters Rosa Landa managed to beat analysts expectations. So seems like it's setting up a pretty good track record here. Great. Let's talk as well. About unicredit. This is the third stock that you're looking at the German units appealing guilty in a US sanctions case, right? So what happened is that? It's reached a settlement with several US regulators. The Bank will pay one point three billion dollars. It's Austrian unit will enter a deferred prosecution agreement and the German unit will enter a guilty plea and the stock is reacting pretty decently today. It's up about nine percent about zero point nine percent in Italy. And that's partly because it has the ready set aside a provision for the fine. And the Bank has said that that provision will be sufficient, and I think investors are just happy that this is, you know, off the shoulders of the company, thanks so much. Bloomberg's just Lee in London studios and Ondo as you mentioned the best performing stock on the stock six hundred at the moment up eight point six percent. And in terms of Lufthansa that you've talked about slumping to the first cool to loss. You all seeing an impact on other airlines as well. A little towns itself was performing down four percent. But Ryan Loa by. Three percent Ephron slow by two point six percent. And EasyJet also down to percents of those lines all the worst performers also down one point four percent worst performance in terms of individual stocks next. I mentioned a declining as much as five point two percent in its Milana trading debut, this the payment services company debuting Loa by as much as five point two percent. Alright. Those stocks to watch let's move on to a top stories. Install with comments out of the US Federal Reserve, Chicago president Charles Evans says rate cut could be on the cause if US inflation fools. He added that he didn't expect that to be the case. And that he sees rates on hold until at least the third quarter of twenty twenty. But while the scenario was hypothetical price pressures have eased in July two thousand eighteen closely. Tracked measure of underlying inflation rose above the central bank's two percent target full the first time in six years, and it was interesting as well. Because in terms of. His commentary. He also said that he would be tolerant of core inflation at two point five percent. So it really does bring to the full without discussion of whether the fed should be looking at above target inflation. Meanwhile, the feds Rosengren saying he doesn't see recession, but does see some deceleration from last year and the pace of growth and economic activity will be enough to bring further reductions in the unemployment rate in the near term. So recession is not my modal full cost was what he said. But inflation is below the target then moving on to Rosengren. Indeed, he spoke yesterday and said thought despite some deceleration from last year, the economy is doing well, but inflation is slightly below that target. He went on to say the Pacific running blow. The inflation target can be risky. My own preference would be in place in writing. But this is what we're arguing about over. The course of this year. This is what we're going to get feedback from the public from academics from a variety of different organizations to get better. Understanding how can we reinforce that two percent? Not just because we're worried about the inflation rate, but because we want to have enough policy room that whenever that next recession hits. We don't want inflation expectations to be low. That was Boston said president, Eric Rosengren who is vote this year on the right setting FOMC, as of course is Charles Evans sticking with central Bank news to avoid the Gallo says the European Central Bank subzero rate policy is still a positive. He's the governing council member who pressed hottest for a review of the measure, the comments echo, those of ECB officials, but it's a somewhat surprising twist off to visualize push to look at offsetting some of the impact of negative rates staying with China, new home prices have snapped a full month weakening streak. Bloomberg's Bryan Curtis has moved from Hong Kong. It's one of the first official signs of recovery in China's housing market, the value of new homes gained zero point six one percent month on month in March the government tracks these trends in some seventy major cities across the country on. Annual basis. Prices were up eleven point three percent compared to eleven point one percent in February. Now, the recovery was stronger in tier two and tier three cities their local governments use the kind of stealth easing to offer. Support this rebound raises? The question of whether any further easing will be needed. You know Kong Bryan Curtis. Bloomberg daybreak here. Let's turn to Bank earnings CitiGroup. And Goldman Sachs both delivered better than expected numbers. But instead of celebrating executive spent yesterday, assuring investors, they'll make more progress on revamping the units that are dragging down results. The story from Bloomberg's Charlie Pellett. Goldman posted a bigger drop in equity trading expected and warm that the investment banking boosted. God of the first quarter may not last the equity trading slump lead Goldman to a bigger decline in total trading revenue than at CitiGroup board J P Morgan Chase Citigroup's unexpected bouncing bond. Trading wasn't enough to counter a lack of growth in its sprawling consumer division revenue is little changed in the firm's global concern. Sumerbank the number of open accounts and its US retail banking division hasn't increase in the past year while average deposits for the unit climbed only one percent, Charlie Pellett. Bloomberg daybreak Europe. Meanwhile, the financial sector continues to be in the spotlight with Bank of America. Reporting today. Bloomberg's Jeff Bellinger has the preview analyst views are generally upbeat. Beye ratings on outnumber hold ratings by nearly three two. There are no cell ratings. Bloomberg intelligence says the Bank likely benefited from the improved industry loan growth seen in Federal Reserve, data commercial and industrial lending has outpaced other categories. It'd be a forecasts are for Bank of America to post a profit of sixty six cents a share on revenue topping twenty three billion dollars. Jeff bellinger. Bloomberg daybreak Europe, those top stories now for the latest in global news. Bloomberg's Leon guarantee 'em. Good morning name. In Paris, firefighters find his through the night to save. The historic Nacho Dom cathedral. My earning morning fire that had raged for hours was under control. But not yet out the cathedral was still it's two conic ball towers was saved. President Emmanuel Macron is following to revolt notch down. We will rebuild this cathedral. Together. A national fundraiser will be launched and Welby up orders. We will appeal to the greatest talents and many people will come to contribute to it. China's hiring hundreds of people to run the propaganda after voted to president Xi Jinping. Being the Kennedy says millions out on loading the program to school points with the government. Now called study the powerful country is the latest push to spread so-called Xi Jinping thought the president's take on socialism that's been enshrined in the constitution. Even before the move to boost its manpower the app topped apples domestic download chart shortly after its release in January in Hong Kong currenly, Bloomberg daybreak Europe. Jeremy Corbyn insisted teenager who fled the UK to join his Llamas states entitled to tax payers money as she battles to keep her British citizenship. She is a British citizen. She's therefore entitled to apply for legal. And if she has a legal problem just like anybody else's in that decision will have to made by the legal authorities. And I think they should be allowed to make that decision. The labor is being defending the right of Shamima Begum originally from east London to seek legal aid. She's now in a refugee camp in Syria and his apply to challenge a decision to strip it although citizenship and finally in Venezuela President Nicolas Maduro may have found a way to get around economic sanctions, Bloomberg as learned that Venezuela. Benny Suelas sold about four hundred million dollars in gold. That's despite a growing international push to freeze the country's assets. Sanctions have cut off Missouri's regime from the global financial system. Global news twenty four hours a day on Aaron took on Twitter pound line bulletin, twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm young guarantee. This is Bloomberg Nara Leon. Thank you so much now still ahead on Bloomberg daybreak Europe investor descent market. Sent US Bank. Stocks lower yesterday falling following earnings from Goldman and city did recoup most of the losses, but Goldman closed lower by more than three percent will Bank of America fare any better today. More on that next on we keep an eye on the European equity market open as well, we've have full straight days of gays European equities for looking at."