18 Burst results for "Bob Diamond"
"bob diamond" Discussed on Newsradio 830 WCCO
"Now we're focusing on Lake Street that's going to be rebuilt all between Blaisdell and sales so that's always going to be open but that's going to be reduced lanes so folks want to pay attention to that and then you know we continue we're gonna be working on because the northbound lanes we're gonna start that of thirty five W. between forty third and and the I. ninety four and so we're going to shift the traffic over to the west side of the highway and so folks all the crews can work on that so you can see a lot of things going on locks laws been done so far what's been accomplished as a lot of new lanes already got new ramps going in you're gonna start seein the up the new transit center hall that late in thirty first that's gonna start being built here later this year so there's a lot going on one of things that folks are going to want to pay attention to is we are gonna have to close the forty sixth street exit to northbound thirty five W. probably in late June and for the rest of the project so you're gonna have to go down to Bob diamond Lake Road exit to get to thirty five north of for those who live in south Minneapolis yeah I and this certainly has been ongoing I I I guess it's safe to say this this is a monster project and I know when we get to the finish line though David the improvements I think most people to say well it's going to be good right going to be it is going to be impressive there's going to be brand new concrete all the lanes left we're adding them in fast lane a thirty five south you can see the flaws of the the new route from thirty five north two of ninety four west it's being built all that's going to have its own lane so we'll have to mingle with traffic that should help with some of the backups that you see on that we used to see it on that ramp in the morning all you're going to get a new ramp from thirty five south to Lake Street food got a new a new access to Lake Street that didn't exist also from thirty five north to twenty eight thousand twenty eight street rather there's gonna be a new right up there that should take some of the heat off of the lakes lake in thirty first wrapped.
"bob diamond" Discussed on Bloomberg Radio New York
"Krizner at Bloomberg world headquarters in New York. Let's check this hour's top business stories on the markets. The Trump administration is preparing to announce another round of eighty US farmers hurt, by the trade war with China, as soon as Thursday, we are told us package of could exceed fifteen billion dollars. Meantime, the Trump administration is reportedly considering limits to US technology for the Chinese video surveillance firm hick vision, the New York Times, reporting, the move will affectively place, the company on a US blacklist. It would also Mark the first time the Trump administration punished a Chinese company for its role in the surveillance, and mass detention of Wheaties, mostly Muslim ethnic minority. Incidentally shares in hick vision are down nearly ten percent at this hour on the mainland. The fed may have slightly overdone it. When it raised interest rates last December. That's according to Saint Louis fed Bank president Jim Bullard he incidentally voted against the hike. And now he says rates. Are at a good place in the US right now. If anything they're a little restrictive. Even so. Bullard said it is premature to talk about a rate cut US retailers Nordstrom JC Penney and Kohl's each posted quarterly sales declines and both Nordstrom and Kohl's slash their full year. Outlooks a note from global data. Retail said some customers are buying less and others have cut out purchases entirely. We check markets every fifteen minutes here on Bloomberg right now in Tokyo, the Nikkei two twenty-five of three tenths of one percent. Hang sang is better by four tenths of one percent in Seoul, the kospi down two tenths of one percent on the mainland. Chung high composite is weaker by two tenths of one percent. And in Sydney, the ASX two hundred is down two tenths of one percent. The US ten year treasury in the Tokyo session is now yielding two point four three percent. Global news twenty four hours a day on air and tick tock on Twitter, powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. This is Bloomberg. Europe is in the news today with an always CD report taking up estimates for European growth and continued pressure on Deutsche Bank as it goes into its annual meeting on Thursday. And Bloomberg's Tom Keene and Jonathan Farrow, spoke with Bob diamond founding partner, and chief executive officer at atlas merchant capital about the state of European banks to American banks any place in the celebration of European banking. It's a really good question, Tom. I wouldn't think that, that makes sense. I don't know what Goldman gets out of that. I mean, Goldman's not going to have a stronger investment Bank by integrating with, with twitch. And I think the fundamental issue that the chairman Pollock later faces is what is the business model going full? Exactly. I mean it's a bit pejorative to say at this way. But I believe it if you go back ten years to the crisis, then Deutsche was a traitor built by traders for traders it was about risk. It was about assets. It was about balance sheet and post. Crisis. That's not what the regulators or the political leaders are going to allow so it takes a dramatic shift and I think the struggles we've seen with Georgia in the lower share price a really around, what is the business model, that's going to make money going forward. So there was a joke yesterday that the obstacle white Gomez sex should not by what your Bank would be five times as long story, an I granted it was a decent pace, Tom, but the idea. Patrick hedged at the end of the article that just sounds like insanity to a lot of people at the moment, let's talk about the kind of business model that does what can you right now pope what I say. So if I look at it, my mom, or if I look at Barclays, if investment banking is struggling, they have a strong underlying retail business. They have a very, very strong credit card business, and they have an investment banking business. All three on their own are credible market leaders in can make money. I think in the Deutsches situation, one of the challenges is, they don't have that underlying retail business in Germany, or it doesn't appear to me that the Postbank acquisition his given him that, that earnings juggernaut if you will. So they don't have the, the ballast or the or the support. When you look at the French banks, when you look at the Spanish banks, you see them with that core. Underlying domestic retail and corporate business that has strong Italy. Spain is actually part this story, you'll renew to the. Right now. We are. And eliminate the Bank that crop up. A Sarah has started going quite well now no legacy loans, not a single lone on the balance sheet. So no legacy technology. We've been able to bring in all our own technology. And as you know, in, in this day and age, you don't have to develop technology can buy the packages and put them together and compartmentalize them. So the Italian banks traditional banks are still riddled with non-performing loans. So I think there's a great opportunity, and I mentioned this to you offline in Spain in Portugal, downright I bury in renaissance happening. I don't wanna get way out. But it wasn't that long ago that youth unemployment in Spain was thirty five or forty percent. And we're really seeing the periphery of union outpace core Europe. And I think it's quite interesting. Can you explain to our global audience of sophisticates? But also everybody else if investment banking is challenged. Why can't they just cut costs whether it's Deutsche Bank or any other Bank? Is there such a fixed? Investment nature to investment banking that if they're struggling you can't just cut cost like you would in any other division. I think the good investment banks have learned that. And I think there was a period post the crisis where they were having a hard time figuring out. What's the core business? But, you know, the US investment banks, although it was tough fourth quarter in the first quarter you know, somewhat Lois be somewhat city made those decisions investment banks are doing well, why can't European banks make that same set of decisions that seem become easily under the Anglo sex model? Why Anglo American one of the advantages for the I mean, I think there's a good reason why the one credible competitor to the us investment banks is still Barclays Capital notwithstanding. The, the harsh regulatory environment in the UK ring-fencing tax on your global balance-sheet notwithstanding that the reason is the Liman acquisition. They have a deep client presence, in a deep business here, US and the US is really the. If you don't have a strong presence in the US a credible presence in a profitable presence. It's unlikely that you're going to be a great civil investment back. Cyp mentioned something if you can't compete in the United States, you can't be global Bank can European banks become global banks. Then. Can compete in the United States. I don't think European Bank should be focused on being liberal banks should be focused on being number one. Great in their country and number two great in the region. And I do think there's an opportunity over the next what tree five seven years to start to see some cross-border consolidate right in Europe, but it's not going to happen until we see domestic consolidation. That was Bob diamond founding partner and chief executive officer at atlas merchant capital coming up, Michael McFaul, former US ambassador to Russia. This is Bloomberg. If you love them enough to listen to them practice the same song. Please beat. Over and over and over and over and over that shouli, you'll check NHTSA dot.
"bob diamond" Discussed on WTMJ 620
"Not clear what they were in the cab at the time of the shooting Tuesday's incident March the third time in a month to the city employees been endanger on the job, the Milwaukee coming council vowed to review security measures of employees this after the shooting death of inspector Gregson pick in two thousand seventeen who was shot to death during an attempted carjacking in March of that year. Tuesday's shooting comes about a month after a Milwaukee public works employees was struck by a car and killed while on the job near seventeenth and vine. Brian Rodriguez was laying asphalt on February eighth when he was hit by the vehicle driven by Theron clayborn late Morton has since been charged with a felony hit and run in operating a motor vehicle while driving on a suspended license. Say Milwaukee alderman. Bob diamond tells WTMJ the city simply not safe without a doubt. If you're working in certain neighborhoods within the city of Milwaukee. It can be dangerous. That's a sad state of affairs. And it's a very sad situation for all of us guest Tuesday in Wisconsin's afternoon news, we're learning more about the construction worker who was killed in Milwaukee. After falling down an elevator shaft Monday afternoon. Thirty two year old Anthony Zarian died while working inside the Coakley building, a close family friend tells today's TM Jay for it's tough coming to grips with this tragedy. He really was a a true brother, an amazing son incredible father, he is going to be greatly necessary. Ends death comes just two days after the birth of his son. It's been a year after a deadly apartment explosion in beaver dam. Kill Benjamin Morrow he was he died in the blast as virtue by virtue of one of his own bombs exploding Kathy Hagan lived in the unit below his point it all happened in like my wall. Everything like pulse in my daughter is thrown back like someone had Sheldon Cush as we landed on her knees. And I had this horrible feeling that. Next thing was going to be shooting. Thank god. It wasn't beaver dam. Police investigations close despite many unanswered questions. President Trump's former attorney Michael Cohen readying for another round of testimony before a house committee. This testimony will happen behind closed doors marking his fourth day in two weeks among the committee's interest Russian interference in the two thousand sixteen election, and whether the Trump campaign campaign coordinated with the Russians in any way, congress and the White House locked in another battle this one over security clearances house oversight committee members say they what information related to what they say are security clearance abuses. The Whitehouse calling that request overly intrusive, the White House. Not complying refusing to provide the house oversight committee any information about whether President Trump overruled career intelligence officials including concerns raised by the CIA and ordered his son-in-law Jared Kushner be granted top secret security clearance. The White House called their requests, overly intrusive. This office over internal memos which according to the New York Times or original by chief of staff. John kelly. And White House counsel Don Mcgann urging against clearance for the president's son-in-law. And it'd be given any way three Marshall ABC news, Washington US customs and border protection says children and families are crossing the southern border in record numbers last month agents apprehended more than thirty six thousand families up more than three hundred percent from last year. Brian Hastings is the US border patrol chief of operations. This is a dangerous trend trend for us. We define large group as a group over one hundred those groups so far this fiscal year. We've seen seventy of those groups over one hundred.
"bob diamond" Discussed on Mysterious Universe
"Now, I've tried to do some quick research on this voyage. Does that mean that they went underground for forty miles on this little rickety raft that is insane? I have no idea. But that's what it sounds like. It's what's being said. So this really a connection from Manhattan to the school? I wouldn't be surprised because the here in Sydney, there's something called the tank stream. And when settlers first came to Sydney, though, getting their fresh water from this little stream and over time, this strange side of becoming you know, just to be not infected, but basically polluted with all of the crap that was in there and everything else and all the settlers, so they actually wold it up, and they wound up with all this stone. And now. That's what Usery more, obviously. But now you can actually travel from basically the center of the central business district in Sydney, really all the way out to the ocean. And so there's actually a ballot full people. I've tried because I wanted to do for the shows about that. I've tried for years and years and years, I never get selected. But yeah, I mean, I wouldn't be surprised if something that could exist in Sydney Scholley, something like that could exist in you. Just sounds insane. Just on an underground river forty miles on a little rickety raft beneath Atlantic avenue in Brooklyn, he visited train tunnel that had been abandoned since eighteen sixty two full of slime. Well, it was it was completely forgotten by the city. It was it wasn't are any updated plans. No one knew it was there until in nineteen eighty this nineteen year old kid named Bob diamond. He went down around a man hall and found it just this lost station lost to history. He was in the Bronx with treasure hunters looking for a bundle of loss rent some money alleged alleged. Buried there by men who kidnap Charles Lindbergh's aby. I don't think I found the treasure. And there were rumors of hidden chambers. In the subway system with the walls were inscribed with century old graffiti, apparently, there's an old building in midtown where there's a there's a sub basement you can go down and there's a hole in the floor. But there's just a river running underneath it. And is this room of that old men would sit around during the dice mojica goes fishing for trout out of the basement. That's pretty cool. I like that. But then as he's exploring and finding is amazing places. That's when he started to find the mole people New York, small people, French more paper. Now, just noted when friend. They didn't have didn't get. So they're just normal mini Beckett's. And so these are the homeless people that live on the ground. Neil. I see malls, the not mall humanoid thought we will go. You can't curious universe. I wish mullion. No. It's some of the might look like MO humiliates, and they just leave in the nooks, and crannies and vaults underneath a city. Well, it makes sense because obviously it would be a warmer, especially in the wintertime and this safety down there. I'm assuming so yeah, he tells about one night they met a woman named Brooklyn who had been living underneath the city for thirty years. Now, I'm sure she went surface level occasionally butt bicycling. A whole life was underground. She had a pocked facie said with dreadlocks palled higher and ahead and she called her home. The igloo it was basically this alcove hidden in the eaves of the subway tunnels, and she had a bunch of rickety pieces of phone at on a mattress. That was home equal. And when they met this woman, it was her birthday. So they human he's he's exploring buddy, they gave her a bottle of whiskey, and they're all having fun. And it was going really. Well, she started seeing Tina Turner and Michael Jackson hits until she started seeing things that what he said it's like something snapped. And all of a sudden, she was screaming at things in the dacas. So no one else could say suffering potentially from schizophrenia or something he knows and eventually partner came who was also named Brooklyn. And then we'll said him and his buddy just bicycling slowly backed out of there because they started screaming at each other. They note data there and the other things that no one else could see. So he was just running away from this basically of Hobo multiple and fight on the New York A, but one night he's buddy Steve showed him the secret..
"bob diamond" Discussed on FT Banking Weekly
"This is the serious photo of his case against John Varley. He was the chief executive of Barclays at the time in two thousand eight and then three of his top left Hannon's. Roger Jenkins who was the swashbuckling dealmaker for the Middle East at the time. Tom Clark's, he headed up wealth management, and then Richard base who worked the investment banks financial institutions group say the alleged that the four conspired to pay the Qataris secret fees that want disclosed the market or to other investors through water, Niners advisory services agreements, and the F O say that these deals were sent she just a smokescreen to pay the Qataris the extra fees. They were demanding to invest Jane, tell us what the latest is. They've been in corner for a few days. We've heard a few days of evidence was quite some time before the jury was able to be selected given this is supposedly going to be a six month commitment what's been the juiciest evidence far. I mean, what we heard so far is the prosecution opening which has taken about five days where the SFO's opened their case. So we haven't yet heard of live witnesses, but we've been given an overview of the case of jewelry hav. So some interesting things have come out. There's been emails and details telephone converse. Nations between the executives one in which John Varley, the former chief he's at your book was described as being scared to death about the UK government stepping into nationalist balk at the height of the two thousand eight financial crisis. Bob diamond who is not on trial was to charge. The being paranoid about UK Gutman stepping into do this. And Roger Jenkins expressed concern in a conversation. He had with Richard both panicking Balkars about to be national is not to two thousand eight and panicking because as he puts it the UK government wouldn't look kindly on compensation over a million dollars. Obviously sued if balk Collins public ownership, the UK government would have looked at bonus compensation structure and divan policies as well just to be clear to listeners women compensation here. This is the rather unpleasant terminology that bankers used to talk about pay not the really been compensated for anything. But this around the depressing isn't Carolina that you know, I remember talking to John valley at the time and others within the Bank. About their concerns about you government, bailout, and it was all about the damage to shareholders damage to Britain the damage to the kind of European banking setup. But at least some people seem to informal concerned about their own pay levels than anything else. But that certainly I mean, I think some of the transcripts the we've read in court and we've heard in Vancouver highlight bit missed volley wasn't deed worried about the strategic direction of the Bank had it been nationalized. But also is pretty clear that certainly front of mind for many, those involved was the fact that they probably wouldn't be able to get that multi-million-pound bonuses. I mean for this fundraising alone. Roger Jenkins was paid to twenty five million pound bonus. And indeed the jury's heart a memo demanding payments to that effect. I mean, I think one of the things that this case has done is really lifted lead on the frenetic deal making that happened and just the down to the minute negotiations that had. To happen in order for Barclays to get this away and stay out of the hands of UK government control. And of course at the time. It was hailed as a great success. When Royal Bank of Scotland wolves being bailed out in an emergency rescued by the British government, h boss was falling over Lloyds, very soon. After as Jane, you covered at the time as banking correspondent was bailed out as well. And of course, Barclays looked like he's got the capital that it needed with any downside, albeit a rather expensive but of capital, but it's rather coming home to roost now. Absolutely enemy today. We heard the prosecution alleged the, you know, the prospect of UK government, bailout was very unattractive to Barclays because it would mean it limited the flexibility of the Bank..
"bob diamond" Discussed on FT Banking Weekly
"Because of this investors are not worrying vice the fact the global is going to. Business certainly parts of these Asia. Investors are worried about the financial penalty office on that basically taking would in three billion from Gomez coffers getting to some combination of do JV fines than have having button to the Malaysian, by way of compensation will it's clearly going to be a story that runs for some time on by sides of the world, please keep us abreast of it. Thanks. Let's move onto a second topic. David you broken interesting story a few days ago about Standard Chartered looking at significant share buyback Sunday chose of course, the emerging markets focused Bank, which storage has been very focused on growth now looking at buying back. How much it's you you arresting we know the number, and there's a reason for that. Which is the Standard Chartered itself in negotiations with the DOJ about the size of fine. It must pay to settle historic abusive. Abusive sanctions. So they are very nervous about putting a number on it for fear that the J would just say, oh, you have that kind of money sitting around to you. We'll take that. Thank you, very much analysts think that it could be about a billion pounds. The Bank has significantly more capital than that. Even after accounting for the size of the fine. They will have to pay the DOJ, but this is a big strategic departure Standard Chartered. And so a buyback of billion pounds would would be pretty significant. Yeah. And I think some shell certainly will be applauding it. They love the idea of having the kind of windfall, but others who may be invested in thunder as a growth machine, which obviously has been for decades tapped into the will my think hang on. What does this signal? Does it really mean that stunned sheltered has no opportunities that it can find to grow in these fast growth? Markets. Right. And when I started hearing about this. I went back through all the history of Santa to try and find a last time the Bank had done a buyback. Now the backs preference shares in two thousand and two what we consider traditional buyback off to that. It's actually impossible to find the story we say at least twenty years, but that is simply because the institutional knowledge runs out Standard Chartered after twenty years, and nobody really knows when they've ever done one is sort of a sign of the fact that this Bank has always been a growth story capital has been better used to sort of pet against writing new business than handing it back to shoulders and some people think this could be in putting the white flag up. Now when you talk to people who have been working on this plan, they say, well, we don't giving everything back. This is a disciplined approach will get back some and we'll keep some to put towards my business. Well, we'll see if they strike that balance on a rewarded in the stock market accordingly. Thanks, david. Leslie, let's go now to an interview with Bob diamond. Of course is the former Barclays boss who now runs atlas merchant capital an investment fund which last week completed the purchase of a twenty percent stake. In equities has Kepler's Chevra will I caught up with diamond recently at an F T conference. And I started by asking him what the rationale was really behind these kinds of investments and where he saw value in the financial services sector. The only sector of the economy Europe any way, you look at it. We're not higher than they were in two thousand eight in most sectors. Multiple. It's been interesting. We city opportunities to invest in capital intensive businesses below the level of. Broker-dealers insurance companies and banks to be tremendous though, were quite active in. In that regard. I went onto diamond if this was all about regulatory arbitrage and taking business from the big systemically important banks that now just for them become punitively expensive in capital terms. Regular arbitraging pejorative way. I would say, no, never joy. But if you say, no better housed in other words, if it's legacy. Yeah. So there's no new business being visit wise to be holding that risk in a regulated insurance company or is better outside of this. It doesn't need to be regulated not doing. So the point is. Yes, absolutely. We see this really in Europe, we've invested in banking platforms in Greece in
"bob diamond" Discussed on FT Banking Weekly
"Studio today is David Crowe, our banking editor and down the line from Malaysia we have Stefania Palmer scientist Asia correspondent pulsa from New York. We have Laura Newnan US banking editor this week. We'll be discussing the latest ructions at Goldman Sachs as its Malaysian scandal. Deepens look at Standard Chartered as embarks on a buyback of shares. And finally an interview with Bob diamond, the former head of Barclays who is now investing on his own account through business. Atlas merchant capital, I o to Goldman Sachs and Stefania joins us from Columba. You Burke, a really interesting story on Tuesday morning that the premier-in-waiting and Ebrahim has gone pretty aggressively after Goldman in this long running saga about the one MD. And the agree just payments that were allegedly paid to Goldman Sachs for issuing them. Tell us what happened exactly essentially Anwar Ibrahim who should that been after current prime minister Monti Mohammed about a couple of years, essentially told me set Goldman should absolutely return significantly more than the six hundred million dollars at the Bank was paid for arranging three bone cells of for one MD the Malaysian state investment fund that is obviously now at the heart of one of the biggest financial scandals in history. And the main reasons thoughts on we're gave me or ops first of all the fees which to about ten to eleven percents. He found up to the exorbitant and indefensible, and then you also argued that this entire one of Dubya fear of which took Goldman is a part of is essentially a cost to the image of Malaysia. It's a cost to investments coming into the country, but also burden shouldered by the current government, which ousted not cheap Razaaq, the founder of one MD back in mate, we have to remember that the current coalition is also tackling quite an easy fiscal position. They've had to revise the twenty teen fiscal deficits from two point eight percent to three point seven percent in the latest budget, and they also face up to ten and a half billion dollars. In Dutch repayments actually linked to one MD. Where's this going from here? Do you think? I mean, clearly it's getting noisy all the time. Those various other actions, pending feels if on the ground in Malaysia younger is sent me mainting towards Goldman rather than dissipating the hope. Absolutely. I think they are hoping to target Goldman at the moment because it's obviously a case that is in full public view. It also comes on the back of the league est. Accusations coming from the department of Justice dots, essentially have said ops almost half of the six and a half billion dollars worth of one him to be the were arranged by Goldman where misappropriated the deal Jay has also accused two former bunkers of engaging in bribes toward Malaysian officials in order for the Bank to secure business from one to be. So there's definitely a sense here in Poland poor the top government officials are really just taking advantage into riding the wave of very strong momentum against Goldman, or at least putting very strong spotlight on how the Bank has been involved in all of this affair will. Let's get a perspective now from the other side of the world, Laura. You just heard from Stephania that. The Malaysian authorities are certainly ramping up pressure on Goldman is the same thing happening in New York as well. I think certainly the Bank is coming depression me, they continue to negotiate. With the deal Jay to see while sanctions of finding the firm Glenn to face as a result of this whole scandal. I think it seems reasonably likely will save these some sanctions a lot the control diesel internal work. They will probably look need some kind of a fine. The content of the fine is very much known of this have suggested that the financial penalty to go cooking basing that Goldman house to make up the entire of the to them or so that he's on a candidate for that with taking the one NTV raising mills paint this hundred million fees, which Scott that will get you to figure end she win to two point three billion of the very big number. That's Toby Specter's enough this point we don't know what kind of fine reconcilation the firm will face if any they made their goals other implications the firm, we don't we have a field with us. What we haven't said he's in the last few weeks ago voice has become under pressure..
What happens when the next financial crisis strikes?
"World. Bob diamond atlas merchant capital founding partner and CEO tells Bloomberg he does not see a repeat. Of the financial crisis as it relates at least two banks banks, particularly the larger banks are safer and sounder. I don't think there's a crisis with banks around the corner. I do think there's an interesting. Addition to that thinking, which is that if we do have a crisis in the financial markets is unlikely in my mind to be caused by the large banks. It's also unlikely that the large banks will be part of the
"bob diamond" Discussed on BBC Radio 4
"In the final itself unbeatable opponents in croatia in russia dan ronan christopher carlson thank you both it's sixteen minutes to nine margie's bankers had a torrid time since the credit crisis and now new book the bank that lived a little charts that roller coaster ride dominic has been taking a look suspend certainly has lived a little the banking crisis the liable scandal and then behind drama do you remember about the departure of its chief executive bob diamond beckon twenty twelve i've been having a little look at barclays history i started with the events of thirty years ago big bang big bang in one thousand nine hundred six post a problem for barclays another british banks they had to work out what to do in this brave new world so richard lambert now the chairman of the british museum was editor of the financial times and he remembers the old city was like the city was a series of gentlemen's clubs which set their own rules had their own lunch hours didn't do breakfast and becoming increasingly irrelevant what will history will look back on will be how british banking system exploded in size over the following the twenty years i'm dan prophets until the wheels fell off so when things are going fine they were making piles of money but a couple of wobbles and they were grown the bags which is supposed to take up to fifty billion pounds in a rescue plan to be announced tomorrow when the financial crisis struck in two thousand seven the government had to bail some out more miners lit that work for the government the big question was with a barclays would also have to be bailed out we were very concerned about barclays in particular the quality of their lending and trading books but we confronted a a sense of denial from barkley senior management that things were bad look back in hindsight it was not the right decision for them to take but there was a political veterans that they were not going to have anything to do with the uk taxpayer and the uk treasury moving on from the band at the official perhaps suspicion of what barclays was doing carried on over was perhaps promulgator boy etan with liable fear did that deepen the mood of mistrust around bar claes somehow the story over the last forty years or so is one of things constantly turning up and just when you thought you might be moving into coma waters something came along after liable official frustration with barclays was boiling either and it came to a head here at the bank of england on july the second twenty twelve the governor moving king asked barclays leadership to come for a showdown meeting buckley's deputy chairman semi creek was one of those summoned the governor made it very clear that whilst was the board's decision as to who the chief executive was he clearly had an expectation that the board would act on on his advice what happened after you went to see lord king mervyn king we of course went actually to the barclays private wealth office and we called an urgent board meeting and then the chairman i got him his car and we went to visit bob diamond to discuss the situation with him was he it was a time and none of us were happy about the environment we were in barclays all the country i love barclays so i'm not gonna speculate in anything else i love barclays the day after bob diamond was forced to resign he had to appear in front of a select committee of mp's he stuck to.
"bob diamond" Discussed on Bloomberg Radio New York
"What to keep a little bit that's what small companies in italy i hoping from the country's biggest banks to lend just a little bit more and surprisingly even in italy's dysfunctional financial markets some banks on shying away from the risk and lease them onto new she wrote this week about italy's new finance fad and she joins us now so one man potentially going to step into the breach as far as it carries banking sector is concerned is bob diamond tell us what he plans to do what central saying the is the man to one most notably associates with ball claes which is the vessel by powerhouse and ever since he left while plays he's been tiptoeing and other business areas he tried africa in in in the notes of distant past try it you know what kate a banking empire thou that didn't quite go according to plan and now it's as you say it's the turn of italy in southern europe he's also investing in greece what he's seeing here is basically the opportunity to fund a business that has been the traditional backbone of italian italian economy which is buying lending to small and mediumsized companies so when you think if you think about nonperforming loans in the struggles i think that the banking sector he's had just set the scene for his is the situation as far as nonperforming loans initially improving here you have to wonder what he's getting into well that's why i think what's interesting is the timing here so for the last couple of years and he and point out the focus has been very much on the stock of bad debt they todd and banks of bill top and as far as investments wilkinson and people coming in from outside the private equity firms be at distrust wrongs have all been focusing on purchasing some of these baghdad's that book awesome prices in the hope of recovering some of those of being able to sell them alone and sell the assets behind them for a profit now suddenly as the economy starts to turn what investors the things the opportunity to make money by lending and it it's sort of a positive story know that's very very different tune the the very negative focus on the.
"bob diamond" Discussed on Bloomberg Radio New York
"Two a little bags that's what small companies in italy are hoping from the country's biggest banks to lend just a little bit more and surprisingly even in italy's dysfunctional financial markets some banks on shying away from the risk and lease them onto knew she wrote this week about italy's new finance fad and she joins us now so warm man potentially going to step into the breach as far as italy's banking sector is concerned is bob diamond tell us why he plans to do what central saying this is the one most notably associates with ball claes which is the bus inviting powerhouse at ever since he left while plays his been tiptoeing and other business areas he tried africa in the notes of distant past trying to replicate a banking empire thou that didn't quite go according to plan and now it's as you say it's the turn of italy in southern europe he's also investing in greece when he's seeing here is basically the opportunity to fund of business that has been the traditional backbone of italian italian economy which is buying cleansing too small and mediumsized companies so when you think you briefly you think about nonperforming loans and the struggles i think the banking sector's had just set the scene for his is the situation as far as nonperforming loans initially improving here you have to wonder what he's getting into well that's why i do think what's interesting is the timing here so for the last couple of years as he whitening point out the focus has been very much on the store bad debt detente and banks of bill top and as far as investments were concerned people coming in from outside beit private equity firms be it distrust wrongs have all been focusing on purchasing some of these bad debts at rockbottom prices in the hope of recovering some of those of being able to sell the lawn and sell the assets behind them for a profit now suddenly as the economy starts to turn what investors the things the opportunity to make money by lending and it it's sort of a polit a story very very different to the very negative focus on the by loans that we've had so far too we could imagine that some of the good companies have been stopped of credit 'cause the.
"bob diamond" Discussed on Bloomberg Radio New York
"Donald two people little begs that's what small companies in italy ah hoping from the country's biggest banks to lend just a little bit more and surprisingly even in italy's dysfunctional financial markets some banks on shying away from the risk and lease them onto she wrote this week about italy's new finance fad and she joins us now so warm on potentially going to step into the breach as far as italy's banking sector is concerned is bob diamond tell us what he plans to do what central saying this is the man but one most notably associates with ball plays which is it other than vessel banking powerhouse and it was since he left ball plays his been tiptoeing and other business areas he tried africa in in and then also have different pasta try to butler a banking empire thou that didn't quite go according to plan and now it's as you say it's the turn of italy in southern europe he's also investing in greece what he's seeing here is basically the opportunity to fund a business that has been the traditional backbone of italian italian economy which is fine cleansing too small and mediumsized companies so when you think you're freaky you think about nonperforming loans in the struggles i think the banking sector had just set the scene for his is the situation as far as nonperforming loans initially improving here you have to wonder what he's getting into well that's why i think what's interesting is the timing here so for the last couple of years as he whiten point out the focus has been by march on the stock bad debt they ton and banks of bill top and as far as invesments were concerned and people coming in from outside the of private equity firms veit distrust fung's have all been focusing on purchasing some of these bad debt that book awesome prices in the hope of recovering some of those of being able to sell them on and sell the assets behind them for a profit now suddenly as the economy starts to turn what investors the things the opportunity to make money by lending and it it's sort of a positive story very very different.
"bob diamond" Discussed on Bloomberg Radio New York
"A little bit that's what small companies in italy a hoping from the country's biggest banks to lend just a little bit more and surprisingly even in italy's dysfunctional financial markets some banks on shying away from the risk and lease a multi new she wrote this week about italy's new finance fad and she joins us now so one man potentially going to step into the breach as far as italy's banking sector is concerned is bob diamond tell us what he plans to do what central saying the is the man but most notably associates with ball claes which is the vessel by hold powerhouse and ever since he left law plays he's been tiptoeing and other business areas he tried africa in in and then also distant past trying to what cater banking empire thou that didn't quite go according to plan and now it's as you say it's the turn of italy and southern europe he's also investing in greece and what he's seeing here is basically the opportunity to fund a business that has been the traditional backbone of italian italian an economy which is by ankle lending to small and mediumsized companies so when you think officially you think about nonperforming loans and the struggles i think the banking sector's had just set the scene for his is the situation as far as nonperforming loans initially improving here you have to wonder what he's getting into well that's why i think what's interesting is the timing here so for the last couple of years as he white and point out the focus has been by march on the stock of bad debt they and banks of bill top and as far as investments wilkinson and people coming in from outside the private equity firms be it distrust funds have all been focusing on purchasing some of these bad debts that book awesome prices in the hope of recovering some of those of being able to sell the lawn and sell the assets behind them for a profit now suddenly as the economy starts to turn what investors the things the opportunity to make money by lending and it it's sort of a call it a story very very different tune the very negative focus on the.
"bob diamond" Discussed on Bloomberg Radio New York
"That saudi arabia is a domestic financial services industry has become investible again and so our team is looking at opportunities there i think secondly the opportunity to help the sovereign wealth funds the pierre to invest in a more diversified way in a more specialized way outside of saudi arabia is also an even better opportunity than had been but i think i think the one that's most striking to me is the opportunity to to be an investor in saudi arabia so how how aggressively are you willing to go into the saudi reform story so it's all of five days since we're at the conference so not to aggressively yet not too aggressively our elsewhere in the region or you're looking at anything else in terms of options you know the middle east from again where specialists and financial services and the opportunity in this region for us has been more apparent in subsaharan africa and i think for the focus of our investment will be very good question of bitcoin because it is is getting a little traction is a story futures and if you're other instruments to try and embittered more formerly it's sort of mainstream trade how do you how do you place this in in your view of the world as it is so sure i can add anything to the the debate around cryptocurrencies but what i do feel strongly about is that a lot of the technology that underpins some of these currencies block chain is having a big impact on banking noxious commercial banking but central banking as well i think the announcement recently yusef by the central banks of hong kong and singapore that they're going to work on a joint project to implement block change the court technology underpinning both central banks i take that was a very important story in something that i i think is worth following buck great suits sporting of course bob diamond joining us here let's get you a preview what is still to come on the show world'll look at what you need to watch out for as you head into your trading day why do we do that just now let's let's not waste any time morgan stanley they've cut their stocks rating from underway to equal weight the.
"bob diamond" Discussed on Bloomberg Radio New York
"Of all twentyfive so they're not lending they're having trouble keeping deposits because depositors are worried about being bilden annastasia who's our chief executive of our bank in greece is very focused on driving both a limited number of branches put more the technology to take deposits and if we start with that we can move quickly into sme lending what's your take on breaks at you bought banner gordon is it because he found spicer because of his teeth so first of all i have the i'm lucky enough to be able to vote both in the united states in in the uk and i voted to remain so i definitely had the view that the right decision was to remain now that that not the situation i think there's some positives and negatives i think our opportunity to bar parents to buy ten more gordon there's an opportunity to invest seriously in a uk based from institution so it's very focused on equities advisory emminent a sales and trading but uk boost and i think after twenty or thirty years of global global global universal universal universal be all things to all people the opportunities in the uk in europe right now are far more national far more regional but also much more about focus in selectivity focusing on me brokerage business around equities within the uk is a fantastic opportunity that was former barkley ceo and current atlas capital chief executive bob diamond speaking with bloomberg francine look joaqu n coming up we'll have more from the european banking conference with the heads of intense san sanpaolo and societe generale you can see all the bloomberg best stories that best go this is bloomberg with the bloomberg business of sports report i'm michael barr president donald trump has taken another swipe at the nfl about players nearly during the national anthem in a tweet trump says ratings for inital football are way down except for games start with people to live to see whether or not over country will be disrespected richard greenfield media and technology analyst at bdi jeez spoke with bloomberg's tom keene belt ratings advertising is under pressure on it but there's been a lot of.
"bob diamond" Discussed on Bloomberg Radio New York
"All twentyfive so they're not lending they're having trouble keeping deposits because depositors are worried about being bailed him in a stage at who's our chief executive of our bank in greece is very focused on driving both a limited number of branches put more the technology to take deposits on if we start with that we can move quickly into uh 'same lender what's your take on breaks that you bought then they're going to end the is it because he found space because it was cheap so first of all i have the i'm lucky enough to be able to vote both in the united states in in the uk and i voted to remain so i definitely had the view that the right decision was to remain now that that's not the situation i think there's some positives and negatives so i think our opportunity to bar appeared to buy pin more gordon there's an opportunity to invest seriously in a uk based from institution so it's very focused on equities advisory eminem a sales and trading but uk based and i think after twenty or thirty years of global global global universal universal universal be all things to all people the opportunities in the uk in europe right now are far more national far more regional but also much more about focus in selectivity focusing on the me brokerage business around equities who within the uk is a fantastic opportunity that was former barkley ceo and current atlas capital chief executive bob diamond speaking with bloomberg's francine look wa and coming up we'll have more from the european banking conference with the heads of untested sanpaolo and societe generale you can see all the bloomberg rest jeurys at best go this is bloomberg with the bloomberg business of sports report i'm michael barr president donald trump has taken another swipe at the nfl about players kneeling during the national anthem in a tweet trump says ratings for inital football our way down except for game starts when people tune in to see whether or not over country will be disregard richard greenfield media ads acknowledging analyst at bdi jeez spoke with bloomberg's tom keene of belt ratings advertising is under pressure it would have been a lot of you probably seen and heard about.
"bob diamond" Discussed on Bloomberg Radio New York
"Freedom equality opportunity and liberty plus bob diamond discusses the european economy very bullish on banking in europe and i say that recognizing that i have not been bullish on europe as an economy as an investment opportunity in at least twelve years more coming up in the next hour bloomberg best first let's check the markets and some of today's top business stories i'm charlie pellett stocks crept tiras janet yellen warned that the federal reserve should be wary of tightening monetary policy to gradually the sp 500 index all but erased its increase in the donald thirty minutes of trading to finish essentially unchanged here's what the fed chair had to say about inflation currently tonight currently thing fish here's lowinflation is properly temporary so we continued ran tests repeat that inflation is likely to stabilise around two percent over the next few years vie our understanding of the forces driving inflation is in perfect and we recognize the'something weren't persistent may be responsible for the current 100 shooting of our longerrun objective crude oil took a breather today with west texas intermediate crude falling to judge just under fifty two dollars a barrel jim bianco is the president and founder of bianco research and on bloomberg television he was asked why oil stocks have not been moving along with the price of oil if you look at the forward curve in the oil market price the spot price which we talked about fifty two dollars for wti at the end of the year fifty two dollars in two thousand eighteen it's fifty two dollars in two thousand nineteen it's fifty two dollars the market is not leaving at the price of oil is going to go much further from here for the next couple of years so the all stocks are looking at is gonna be higher plus fifty dollars for a long period of time the markets that convinced right now and i think that's reflected in the stocks after the bell nike reported earnings per share for the first quarter that beat analyst estimates stocks little changed sp up less than half a point the dow fell eleven down less than onetenth of 1 percent nasdaq up nine up about two tenths of one percent i'm charlie pellett that's the.
"bob diamond" Discussed on WLOB
"Alive saying that rather daughter yet daughter willis and my maldini mo yes right let's say made scout the made rumor and who was the other one all by rumors gallon and one other none of this rumer has it all yes i am aggregates are looks like she's an actress she goes on a lot of movements excellent nevada bill well actually know this i think well i think i just her i think if she's like twenty nine you know what i'm gonna go the good senator twenty nine i will agree guess what put them down he's he's got up net wait a go bell bill got me on the board buddy go bill at any okay now we are going to another movie actress her name is vow lynch though um event lynnwood she lucian liked we now in a mom who know no okay i'll say she's thirty issues 32 how about a bill twenty twenty three six twenty twenty six i said thirty third areas you that was another one for the good senator is twenty six legs era i'll i wrote the word bob here why did i write aha of now bob and it's not senator bob diamond okay now angela bassett real louie gohmert reactor she is she says she's been around for quite a while but quite a while so i'll say look array although it does look so i'll say she's 62 may she's fifty five fifty seven almost she's fifty nine okay that takes us to another a very funny guy he's not a few funny movies and we enjoy them steve carol villa steve carol steve carell carell gorilla glass jews on and he's done smog and he's done a boatload a movie yeah this guy and he has a funny guy he really is carell zia what is the inner actor or even hours i mean he was in the the show the agha said oh yes oh yes yes yes yes almighty did.