27 Burst results for "Commerzbank"
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"commerzbank" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"In today's show, I'll be breaking down the latest Bitcoin technical analysis as Bitcoin is breaking out, looking to retest $38,000. And quoting Max Keiser, the high priest of Bitcoin, El Salvador has something better than the Second Amendment in the age of unconfiscatable, violence-demonetizing Bitcoin. Every citizen has a right to run their own node and self-custody Bitcoin. This will be legally codified into law. Let's go. Also breaking news just in, Commerzbank granted crypto custody license in Germany, making the German bank its first full-service bank in the country to receive a crypto custody license from local regulators. Also in today's show, is the BlackRock XRP ETF filing for real? Well, the authorities have begun their investigation. I'll be breaking down this latest report, as well as Mr. Wonderful Kevin O'Leary says that a new crypto exchange will compete with Binance coming out of Abu Dhabi and become the largest ever to be regulated. He says it's already backed by billions upon billions of dollars. Also in today's show, billionaire Shamath P predicts a market rally and says that $6 trillion is just awaiting to be deployed. Send it. Also breaking news, Cathie Wood of ARK Invest was making the rounds on mainstream television, explaining why the crypto market will explode to a $25 trillion market cap. Also be giving you her latest updates for her Bitcoin price action. We'll also be taking a look at the overall crypto market, all this plus so much fricking more in today's show. Oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh. Yo, what's good crypto fam? This is first and foremost a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts.net. Again, that's cryptonewsalerts.net. Welcome everyone just joining us. Let me know how the stream is. You can see we're pumping right now. Bitcoin is up $2,200 on the day. You gotta love it. We live for the pumps like this. Respect the pump. Now without further ado, let's kick it off as we do each and every day with our market watch, especially consider the markets pumping. 37.7, 300 away from a new annual high. Let's fricking go. You can see the Bitcoin price action going parabolic right now up 6% on the day and just getting started. We're halfway through Moonvember. Today is November 15th, so still lots of bullishness yet to come. We have Ethereum also up 3.5% trading back above two Gs. We have Solana up 19% trading at 65 bucks and BNB of 5% trading at $253. They say when in doubt, zoom out. So let's look at the one month. Holy moly, Bitcoin up almost 40% in the past 30 days. That's since Mr. Jim Cramer on Mad Money said, Mr. Bitcoin's going down. No, it looks like you're going down, Jim. Just saying. We also have Ether killing it up 32%. Solana, one of the top gainers for the month, up almost 200%. Good lord. XRP up 32%. Cardano at 52% and BNB up 21%. And checking out coinmarketcap.com, the market cap sitting at 1.4 trillion with roughly 64 billion in volume. In the past 24 hours, Bitcoin dominance on the decline at 50.9% with the Ether dominance at 17.3%. And checking out the top 100 crypto gainers of the past 24 hours, we got KASPA leading the pack up 27% trading at 11.2 cents, followed by ThorChain up almost 25% trading at six bucks, followed by PancakeSwap up 24%, trading at $2.78. Now which altcoins are you currently most bullish on for this bull run? Please do let me know. And massive shout out to CoinMarketCap. I am officially now featured on their website as a content creator, which is pretty lit. So much love, much respect. Make sure to follow me over on CoinMarketCap. And checking out crypto bubbles you can see for the day, virtually every major crypto in the green, no sign of anything in the red. And we just had a very strong consolidation. People were expecting another crash, but what have I been telling you here in the show? Bitcoin's going to retest and come back even stronger. And lo and behold, the entire market is ripping. And let's look for the past week. Massive gains once again. You even got scam tokens like FTT up 157%. And let's check out for the past month. Holy moly, some of these tokens are hundreds of percent, which is insane. Is there an alt season amongst us? What are your thoughts, fam? Do let me know. And checking out the Crypto Greed and Fear Index, we're currently rated a 60 in greed. We pulled back just a bit. Yesterday was a 69. Last week, a 66. And last month, a 47, which is neutral. So there you have it. All right, we're going to continue pumping. So we'll be at 38,000 here shortly, probably as we're doing our technical analysis for the King. So without further ado, let's break down the Bitcoin price action, the charts of where the price is likely heading next. Now do keep in mind, we just started pumping insanely right before I went live. And this article is probably not going to reflect it. So I also have the latest technical indicators pulled up on TradingView. So I can show it to you after I read you this. Now check it out. Bitcoin succumbed to profit booking November 13th and the 14th, which pulled the price below 35,000. You had your opportunity to stack those stats, fam. I told you that two for one fire sale was disappearing. And lo and behold, it's already gone. Corrections are a normal part of the everyday move up and considered healthy, as I mentioned to you. A note of caution to the eager dip buyers is that Glassnode data shows the number of whale wallets with more than $1,000 worth of Bitcoin dropped to its lowest level in the past month, indicating that some whales may be sold into the recent strength. Now decent trader co-founder Phil Philb said in a recent interview that a drawdown could come before the rally, leading into the Bitcoin halving in April of 2024, meaning that the Bitcoin 2024 halving is only five more months away. Let's go. Phil believes that Bitcoin can pick up the pace after that and reach 46 to 48,000 per coin by the halving. Let me know if you agree or disagree with the analysts. Now could Bitcoin and select alts resume their uptrend? Let me know. Or will the higher levels attract solid selling by the bears? Let's start with our BTC analysis. Bitcoin reentered the ascending channel pattern November 13th, which may have trapped the aggressive bulls. That started a liquidation effect, which pulled the price to the channel support line November 14th, just yesterday. The strong bounce off of the support line suggests the lower levels continue to attract buyers. The bulls will try to push the Bitcoin price above that resistance line, but may encounter strong selling by the perma bears. Now, if the price turns down and breaks below the channel, it will suggest that trading and traders are rushing to the exits. That may yank the price to the 32,400 to 31,000 support zone but it doesn't look like we're heading that ways. We're pumping, fam. The bulls are expected to aggressively buy at those lower levels. In fact, that's precisely what they did. The bulls will be back in control after we hit a price action of above $38,000, which we're on the cusp of smashing right now. Now for the technical indicators here on Trading View. Check this out. Overall, right now, there is a strong buy signal. There's only one sell signal for the overall summary on the day with nine neutral signals. And if we look at the oscillators as we scroll down, you see it on the left of your screen, only one sell signal, eight neutral and two buy. And when it comes to moving averages, which tells the story of the tale, I mean 14 buy signals and zero sell signals with one neutral. So a great opportunity to buy your position into Bitcoin as we continue to rip and test that $40,000 resistance, and I should say 38, then 40, but we're on the cusp of reclaiming it right this moment. And quoting the high priest of Bitcoin, the one and only Max Keiser, he says El Salvador has something better than the Second Amendment. Now how many of you are familiar with the Second Amendment of the United States Constitution? It's your rights to bear arms, just FYI. He says in the age of unconfiscatable violence, demonetizing Bitcoin, every citizen has the right to run their own node and self custody their Bitcoin. This will be legally codified into law. So even if Bukele didn't get reelected, this could be written into their law forever, kind of like the United States Constitution, which is a pretty big deal. So shout out to Bukele and all the beautiful people in El Salvador. So there you have it, fam. That was the latest TA. You can see all the buy signals in the market right now. All right, fam, now let's break down our next story of the day and discuss a major bank in Germany becoming a crypto custodian, which is a pretty big deal. So let's freaking go. Breaking news just in. The German bank Kommersbank has been granted a crypto custody license by their local regulators according to a brand new November 15th announcement by the lender. Kommersbank says it is the first full service German bank to be granted this license in the country under the legal framework of the German Banking Act. This allows it to offer custody of crypto assets and will enable it to offer further digital asset services. Now, I'm not gonna pretend I could even try to comprehend this guy's name, but the chief operating officer of the bank said that acquiring the license is an important milestone. This highlights our ongoing commitment to applying the latest technologies and innovations, and it forms the foundation for supporting our customers in the areas of digital assets. The bank said it's the first step now, which is to establish a platform that is both secure and reliable and which fully complies with the local regulations while supporting its institutional clients through crypto custody services via the blockchain. Now, when Cointelegraph reached out, they didn't have further info on the development, but Kommersbank follows similar news out of Germany where the country's third largest bank, which is DZ Bank, revealed its crypto custody offerings for institutional investors a couple of weeks ago on November 6th. So Germany, let's go. DZ Bank announced a new platform for processing and storing digital financial instruments. It also said it applied for a crypto custody license in June of this year to allow institutional investors and private customers to buy cryptocurrencies. Now, in September, the US crypto custody firm BitGo received the license from the German Federal Financial Supervisor Authority to expand its compliance with local regulations after three years of operating its dedicated local subsidiary Now, the crypto landscape in Germany has gained significant momentum over the last year. In March, we had Deutsche Werkpiper Service Bank launching its WP Next crypto trading platform, literally offering 1,200 banks and savings banks in Germany access to the digital asset industry. So there you have it. Mass adoption is occurring around the world. So Germany, where you at? How many of you tuned in right now are from Germany? Please do let me know. What's the crypto landscape looking like in your country and where you're from? Regardless of where it is, do the banks hassle you or give you a hard time when you wanna buy Bitcoin or do something crypto related? Please do let me know because that seems to be the unfortunate reality here in the United States. We still got a lot to cover. I know the chat is lit, I appreciate it, but there was a big rumor circulating across X and all the social platforms that BlackRock is anticipating an XRP ETF because they were filing for an ETP. Now, there's a lot of controversy surrounding this because the ETF experts over at Bloomberg, they said they verified with BlackRock that it's not true, but then the people who initially leaked the information said, no, this is true and they're hiding it from you. And now the regulators are investigating. So here's the latest report of what's going on. The Delaware authorities have taken over the case involving the false BlackRock XRP ETF filing, which appeared on the Delaware's Department of State Division of Corporations Monday, two days ago. Here we go. Amidst the excitement surrounding the introduction of ETFs into the crypto market, concerns have also been raised about the existence of falsified ETF filings in the market. Is it fraud? What's going on? Let's find out. A regulatory filing suggests that BlackRock filed an XRP ETF has been going viral in the crypto space. However, BlackRock swiftly debunked the allegations and clarified it has not filed any ETFs other than a spot Bitcoin ETF and Ethereum spot ETF. So at this time, according to BlackRock's own words, they're just coming for your Bitcoin and Ethereum, not your XRP yet. But according to Bloomberg, the Delaware Department of Justice issued an official investigation on the false BlackRock XRP ETF filing. As it manipulated the market instantly, we pumped big time. Then once they denied the rumor, it instantly dumped just like that. Now the case was handed over by the Delaware Division of Corporations Senior Bloomberg ETF analyst, Eric Valchunes, revealed in an ex-post that the spokesperson for the Delaware Department of the State confirmed that the fraudulent XRP ETF filing has been given to the authorities. They claim straight up it's 100% fraudulent, quoting Valchunes here. Latest on the fake XRP ETF filing, our only comment that this matter has been referred to the Delaware Department of Justice. The spokesperson said, "'Damn, someone out there is crapping their pants "'as we speak,' he stated. Now presently, the BlackRock XRP ETF filing is still displayed on the Delaware website, showing one of the BlackRock managing directors, Daniel Swager, as a registered agent. It is unclear what the results of the investigations carried out by the authorities would yield. However, if the fake filing is found to be real, it can lead to fraudulent charges on the party responsible. So there you have it. Now recently, the crypto space has been plagued with deceptive information, which caused erratic price movement on certain cryptos. XRP is the latest victim of these price manipulation tactics. Now the crypto experienced gains of over 15% following the news of XRP ETF filing by BlackRock. And after the rumors were officially denied by the asset management company, it lost its gains and is currently trading back at around 65 cents, maybe closer to 70 cents now with this recent pump. Now other deceptive schemes include the rumors of BlackRock's spot Bitcoin ETF approval by the US SEC, which caused that uptick a couple of weeks back in the Bitcoin price action, and which took us to these new annual highs. There have also been deep fake scam videos going rampant in the crypto space. A particular incident featured a deep fake video impersonating the Ripple CEO, Brad Garlinghouse, giving out false information and giveaways. Red alert right there. If any CEO or influencer or any human being says, hey, send me one Bitcoin and I'll send you back two, or send me 10 XRP, I'll send you back 20, it's always going to be a scam because they would never be that stupid. Just FYI to all the newbies just watching. Now Ripple's CEO has warned the XRP community to be cautious of these scams targeting XRP holders. Garlinghouse has also stated that community members should endeavor to get all the info only from the official Ripple channels. Quoting Garlinghouse here, there's been an uptick in deep fake scam videos overlaying new words with old footage from Ripple events. Now remember, don't trust, verify. Sage advice, and this goes for all cryptocurrencies and all influencers. One of the most common ones I see all the time on YouTube is a Elon Musk video or Jeff Bezos or Bill Gates, and it's the same scam each and every time. Send me X amount of Bitcoin and I will double it and send you X amount back. And so many people fall for that. It's mind boggling, it's sad, but it's the reality we're in. Can you smell that? 40,000's in the oven, son. Amen, send it and let's freaking go. But anyways, fan, without further ado, we still got a lot to cover. We discussed the BlackRock XRP ETF filing being false according to top ETF analysts over at Bloomberg. Now let's discuss the new blood, a new crypto exchange coming out of Abu Dhabi. According to Kevin O'Leary, now again, anything Kevin O'Leary shares, take with a grain of salt as he was behind FTX as an official ambassador. He was pumping, Sam Bankman freed. Even after he got all these fraudulent charges and after scamming people for billions of dollars, he's like, I still believe in him. Yes, I would start another business with him. So he could probably sell his soul for any amount of money, clearly. But nonetheless, he's talking a big game. He's talking about this big exchange backed by billions of dollars out of Abu Dhabi. Let's break this baby down. Here we go. How many of you saw that video with O'Leary? Let me know. Shark Tank star Kevin O'Leary says a new crypto exchange has come in. And why doesn't the Shark Tank discuss anything crypto related? Is that by design? What are your thoughts? But I think I just saw Pompliano and William Clemente on it. I don't know for sure, but it looks like they were taking pictures with Mr. O'Leary so I was wondering if they were on the Shark Tank. But nonetheless, it boggles my mind why not everything is crypto related. They should have a dedicated Shark Tank specific for crypto, in my opinion. But anyways, in a new interview, O'Leary says a new crypto exchange is coming that will take business away from the industry's leading giants. We all know he's not a fan of CZ and Binance because he was also throwing them under the bus when he was being questioned by Congress, if you remember that. In the new interview with Fox Business, the venture capitalist says the days of the crypto cowboy are long gone. O'Leary says that a new firm based in Abu Dhabi called M2 will become the largest regulated crypto exchange in the world backed by billions of dollars in capital with connections to large institutional players. Quoting him here, the age of the crypto cowboy, those days are over. We have the pending announcement rumored. In the next 10 days, they will announce M2 in Abu Dhabi, the largest exchange ever that's regulated with billions of dollars backing it tied to huge financial institutions. Now I'm curious, who do you think these huge financial institutions are? Because isn't BlackRock the largest financial institution in the world? Anyways, he continues. So unfortunately, no American can register there, boo. But really, what they are going after is Binance clearly, which will probably lose half of its accounts to the new M2. It looks like a crypto takeover. Now because now you can go off something that the SEC is suing and go on a compliant exchange that's backed by billions of dollars and huge financial institutions. So clearly he's just against Binance and CZ and he wants to take half their business away, hence why he's promoting this. And he probably got paid tens of millions of dollars to be an ambassador here, just like he got paid with FTX. But anyways, the investor says he so badly wants to be an early investor in the new project. Kevin O'Leary promoted FTX shortly before it collapsed and its CEO was arrested, as we know, for fraud charges and he's facing up to 100 years in prison. Then in October, O'Leary made similar comments about the M2 exchange. Could it be deja vu? He shared here, this hasn't been announced yet but in Abu Dhabi, they're planning to launch the new exchange to replace both FTX and Binance and they're going to get billions of dollars on it called M2. It is going to be totally compliant, backed by billions of dollars, incredibly stable. Ownership transparency and it'll be used by anybody in the world legitimately on a compliant basis. It's going to become the new standard in exchanges because you can't hold Bitcoin without an exchange for liquidity. So there you have it. What are your thoughts on this M2 exchange that O'Leary is pumping? Let me know your honest thoughts in the comments right down below and if you had the opportunity to use that exchange right now, how many of you would go to it and go make some trades, maybe buy some Bitcoin, maybe trade some alts for some BTC, get ready for this Bitcoin halving? Let me know your honest thoughts in the comments right down below. So let's move on to our next story of the day and let's discuss $6 trillion entering the crypto market according to billionaire Shamath P and then we'll dive into the latest from the one and only Cathie Wood, the greatest of all time, her $25 trillion crypto market cap prediction along with her latest updated price predictions for Bitcoin. But first, here's the latest from Shamath P. Here we go. Billionaire venture capitalist Shamath P and he's an early Bitcoin investor as well if you didn't know, says the markets are ripe for a strong rally as the deluge of capital looks to find a new home. In a new episode of the All In Pod, the billionaire says that the macro picture is starting to look positive for the United States. The social capital founder first looks at the CPI which tracks the country's rate of inflation over time and according to Shamath, the CPI is starting to roll over indicating that high inflation rates are a thing of the past quoting him here, we're really in a decent place with inflation. If you think about what's going to happen in the next six months, it's mostly in the bag. There is a lag effect on a handful of CPI components specifically rents which when you roll them into this inflation rate, you're going to see it really, really turn over very quickly so we know that inflation is falling and it's going to fall even more. Let me know if you agree or disagree with the analyst. He also then looks at the amount of capital stockpiled right now in money market funds and according to the venture capitalist, trillions of dollars worth of capital may move out of the money market funds and flow directly into the stock market to chase higher gains as he shares here. I think the setup is basically the following. There is less money in the system, that's a positive. There is more money on the sidelines. Look at the amount of money in money market funds, six trillion dollars and growing. So that's really positive sign which is money will need to find a home and how much of that six trillion do you think will find a home in Bitcoin? I mean, if you had the opportunity to invest your money in the stock market versus Bitcoin, what would you do? Let me know. So that's trillions of dollars that have to get deployed. Now you introduce rate cuts and that's a real accelerant. More than likely, I think what that means is the markets are set up to do pretty well, equity markets specifically. Now Shamath P ends his analysis by saying he is optimistic about the prospects of the US economy with the Federal Reserve poised to cut rates by mid 2024 as he shares here. Inflation is very much in the rear view mirror. Rates are going to get cut by the middle part of the year. The economy looks like it's going to be a soft landing. That is actually very beneficial for the sitting president. It is also good for equities. It's good for us. I think we had a fundamental change. So there you have it. Let me know if you agree or disagree with the billionaire venture capitalists and do you think that six trillion, a lot of it can pour into Bitcoin? Let me know your thoughts because right now the crypto market cap all time high peak that we hit back in November of 2021 was roughly $3 trillion. And right now we're probably under two trillion. So we have a lot of growth to come yet, you know what I mean? And speaking of Bitcoin ladies, now let's discuss the goat of all female investors and that is Cathie Wood. Here's her latest Bitcoin analysis, her price prediction. And as far as how high the crypto market cap will climb, she made some very bold predictions recently making the rounds across all the mainstream media programs. So here's the latest of what Cathie Wood has to share. First, let's start with some tweets. Cathie Wood says something has changed in the SEC's attitude to a spot Bitcoin ETF. The chances of approval have gone up. If you agree with that sentiment, let me know. ETF analysts, James Safar and Eric Balchunes give it a 90% chance that the spot Bitcoin ETF be approved by January 10th, which is the second deadline. The first deadline is this week, only two days away this Friday, the 17th. Now, she also says that $600,000 Bitcoin is the base case, but could go higher because of scarcity, institutional adoption and the spot Bitcoin ETF facts. Now, if the SEC does not allow the conversion of GBTC into a spot Bitcoin ETF and Grayscale sues the commission in response, something to keep in mind, the approval schedule for all the Bitcoin ETFs could be postponed per ARK Invest CEO. Cathie Wood, so there is a Black Swan occurrence which could occur. We could all be anticipating this ETF potentially this week or by January 10th, but then the SEC does the inevitable and basically forces legal action by GBTC, pushing back the deadline. Once again, be prepared for all scenarios because we don't know how it's going to play out. Now, the CEO of ARK Invest, here was the interview. How many of you watched this? Let me know. I did some JB React sessions to these. She explains that Gary Gensler understands the technology behind Bitcoin very well, quoting her paraphrasing, yeah, he taught Bitcoin at MIT, which is fact. She believes Gary Gensler may be holding the spot Bitcoin ETF hostage due to his interest in becoming a treasury secretary. Fire Gary Gensler already. Replace this mofo with Hester Pierce, the crypto mom. This is shady as all hell. He's just looking out for his own best interests, not looking out for the best interests of the investors here in the United States, which couldn't be any more clear personally, in my opinion. But anyways, let's discuss this $25 trillion prediction she shares by the year 2030. Appearing on CNBC Squawk Box today, ARK Invest CEO, Cathie Wood, outlines her expectations for the crypto market as US regulations become more clear and financial institutions become to adopt the asset class. And we all know that Bitcoin is already an asset class. Now, anyone owning Bitcoin knows this is global, quoting her here. This is not just a US opportunity and it's big, says Wood. It's going to scale from a little more than $1 trillion today to $25 trillion market cap in 2030 as this new world builds out. Now, here's some perspective. Wood highlighted the growing interest from Wall Street firms in offering digital assets to their clients as the primary reason she's enthusiastic about the forthcoming price surge, particularly the application from BlackRock to offer the spot Bitcoin ETF with leading crypto exchange Coinbase as the custodian, quoting her here. I think this regulatory breakthrough is very important to bring institutions online effectively. And I think BlackRock and Coinbase's partnership is going to be very important. Wood offers unique perspective on the institutional push into crypto as she has been one of the earliest adopters of this asset class through ARK Invest. Correct me if I'm wrong, but I believe she started accumulating Bitcoin at roughly $500 per coin. And if you do the math today, she's up more than 60X and just killing it. Now, one of the firms joining BlackRock in pursuit of the spot Bitcoin ETF offering, quoting her here, or my bad here. She has been bullish on Bitcoin and Ethereum for quite some time, explained the streets crypto Aaron Arnold. She is known as a Coinbase investor in bull and she recently named Solana as another crypto, which she likes. She is putting her capital where her mouth is. And of course the big catalyst we're all waiting for is the approval of her and the host of other spot Bitcoin ETFs, including BlackRock's. Wood added that she believes the crypto market's growth over the next few years will be carried primarily by Bitcoin and Ethereum as the primary of the market share, which there already are the two leading assets. And if you look at both either in Bitcoin or Ether, expectations that the crypto asset ecosystem will be dominated by those two facts. And she added that her optimism is buoyed by her experience investing in early internet companies and the explosive growth that revolutionary tech seen to become mainstream. This feels like the early internet again, and it is a very, very big idea. Now for Wood and many other convinced or convicted crypto investors, the value of this asset class stems primarily from its unique diversification away from legacy economies and central banks. This is a new asset class, it's a source of diversification and we would add it's a hedge. Cathie Wood also calls Bitcoin a hedge against deflation as well as a hedge against inflation. And now for her most recent $1.48 million bullish price scenario for the king crypto, here we go. Cathie Wood, we know as the founder of ARK Invest, the investment firm with over $6 billion in assets under management has come forward with a new price expectation for the king crypto. The CEO chatted with history sheeter, Natalie Brunel from the Coin Stories pod where she made the new prediction as Wood explains the efforts of ARK Invest's research team have shown that Bitcoin's growth will be largely driven by institutional adoption. He expects a huge boom in digital assets as the next decade begins. Wood points to the trend towards adoption of new assets by these large institutional investors and how they often allocate their portfolios as the CEO points out, five to 6% of institutional investor portfolios were allocated to assets like real estate after managers tested the waters. Bitcoin can be seen in the testing water stage where institutional investors are still only putting 1% into the digital asset just to see how it turns out then gradually they expand their allocation until they reach the five to 6% range. Now when that happens as Wood mentioned earlier, Bitcoin will cross that six figure mark, word up. Now Wood told Natalie that she wants the price of Bitcoin to surpass $1 million by 2030 but that doesn't mean that the CEO doesn't expect the digital asset to grow further as she puts it as high as $1.48 million per coin over the next seven years. Let me know if you agree or disagree. The founder of ARK Invest further points out that some companies are already starting to exceed the conservative 1% allocation, quoting her here, Tesla, Square have Bitcoins on their balance sheet but we make very cautious assumptions and I think the corporate treasury assumption, 2.5% of all cash and cash equivalents into Bitcoin, quoting her again, and if we are right and the purchasing power of Bitcoin will become so evident in the coming years, that means purchasing power will increase instead of cash dollars now remaining very flat if not worsening in real terms. More and more corporate treasuries are going to put Bitcoin on their balance sheet. So there you have it, fam. What are your thoughts surrounding her $1.48 million bullish Bitcoin price scenario by 2030? Let me know your thoughts in the comments right down below and as I mentioned, her new base case is above $600,000 per coin, send it and let's freaking go. You already know with a 25 trillion market cap, it is going to be lit and yes, Bitcoin has the potential to run up to multiple seven figures, especially as she pointed out, once those allocations from asset managers rise from just a one or 2% to a five, six, seven percent, 10%, game on, we're talking about unprecedented levels of money entering Bitcoin and especially when we got that ETF which is the green light for the money to come and we're talking about a total addressable market north of $700 trillion. So there's plenty of capital in the world and right now, the market of Bitcoin I would describe as nascent, just a pup getting started. For real, for real. And don't forget to check out cryptonewsalerts.net for the full premium experience with video and to participate in our live Q &A and I look forward to seeing you on tomorrow's episode, hodl. Alright now.
Bloomberg Radio New York
"commerzbank" Discussed on Bloomberg Radio New York
"One thing maybe that's not talked about enough is GCC credit in terms of potential diversification benefits when we talk about GCC credit what do you mean with that specifically because again there's there's quite a lot to it of course when we look at I mean from a GCC perspective there's a lot of issuances coming to the to the quality issue is coming on the table in terms of rating in terms of sectors and diversification diversification we're seeing across from sovereign perspective and from a corporate perspective so when we're looking at the GCC in terms of a credit we're seeing a lot of opportunity given the fact that from a from a rating perspective most of those credits have been will be able to to maintain risk any increase across the globe especially when it comes to spreads widening okay we saw Goldman Sachs update their oil call down to $92 a barrel for the new year for 2024 are you making any changes are you sticking with your current view I think oil I mean of course the demand coming from China was less than expected the geopolitical risks none escalation actually played you reduce know a bit of gave a game breather to oil prices and I think there's quite a floor fair when it comes to oil prices around the 75 70 to 75 dollars per barrel due to the fact that US are low on inventory they will need to buy at a point in time OPEC Plus are able to reduce supply as much as possible so I think there's some kind of a floor and overall average was positive for the region okay I mean yeah that's the view as well from my Commerzbank Ali thank you very much great to have you here in the studio that's Ali Lado he's the head of investment strategies at Aditya investment structuring so much more to come this Bloomberg is and I'm Ali Lado. Thank you economics all this doom and gloom is out there finance you see this as a technical investment correction what are you looking at to give you some sort of compass through this period the Bloomberg surveillance podcast lots and lots of talk about what the Fed should and shouldn't do Tom Kean, Jonathan Pero, Lisa Abramowitz and the names that shape the world's markets. Can we speak with Professor Shiller of Yale University? Bloomberg surveillance listen today at Bloomberg .com the Bloomberg business app or subscribe on Apple podcasts. The best of Bloomberg Business Week every business day. Sales activities The Bloomberg Business Week podcast with Carol Messer and Bloomberg Quick Takes Tim Stenebeck. What does an Apple -developed car look like? The day's breaking global business finance and tech news along with smart analysis. This talk has been on a tear. The Bloomberg Business Week podcast. Can we just get like 20 seconds from you on Bitcoin? Listen
Bloomberg Radio New York
"commerzbank" Discussed on Bloomberg Radio New York
"All been revamped and gentrified now. We digress. All right, John Tucker, thank you so much. Matt Miller, Paul Sweeney here in the Bloomberg Interactive Broker Studio. We're streaming on that YouTube thing. Just head over to YouTube and search Bloomberg Global News and that will bring it to you. Jess Metten joins us. She's a markets correspondent. Bondin, a lot of red on the screen here. Jess, I'm not sure what you got for us. Well, I wanted to bring up Dish because know I in your heyday as a sell -side analyst, obviously, that's sort of in your forte of companies that you were looking at, but this is ticker symbol D -I -S -H. It's actually up close to 9%, so it's on pace its best for day since late July, but if you see what's happening here, it's set to buy Echo Stars, so obviously Charlie Ergin, his TV empire really shifting to wireless here, but he was one of these who, you know, really trying to reunite these two and he was actually started Echo Star by selling these satellite dishes in the back of a truck in 1980, and so obviously come a long a long way since then, but when you look at that stock, it's been on a wild ride, so even though it's up today, obviously if you put more into context what's happened on a yearly basis, that stocks down more than 40%. It's just been, I mean, go put it on the long -term chart because this thing's been public forever. He was an absolute leader in the telecommunications business, one of the first people to shoot some satellites up into orbit and bring you dish television. That was a phenomenal business for a long time, and he didn't get out when he should have. Direct TV sold to AT &T, he stayed, he said, I'm going to reinvent this business. So he bought a bunch of wireless spectrum. Why? We don't know. We assumed that he was going to be a great poker player like he is. He's a famed poker player that he would take that spectrum, sell it at a profit, and that would be it. He chose not to. He chose to build a network. Do we need another wireless network in this country? No. Probably not. And oh, by the way, it's expensive to build those things. It definitely is. And here we are. And he's just kind of taking these two failing companies, putting them together, and hoping something finds some magic here. But there were people, legions of investors around the world that would follow Charlie Ergin and go wherever he went, much like John Millar. I love it when people put two failing companies together. At one point Deutsche Bank and Commerzbank were talking about a merger, and a German politician famously said two drunk people shouldn't hold each other up. By the way, that's deal not the that only covers M &A companies you used to work on. Because we saw KKR take over Simon & Schuster. Yeah, and that was 1 .6 billion. You know what? For private equity, that is a great buyer. Because KKR has a history of owning media. They respect the creative process, creators, things like that. They're not going to go in there and just tear this thing apart, which you often are concerned about when a private equity buys you. So if you're paramount, it's not a non -core asset. Sell it. I'm surprised I didn't get more money for it. I could have gotten more back in the day, but here we are, that's the value of publishing. And speaking of Paramount, I mean, seeing that stock rising on obviously Obviously the streaming growth that we saw now, but then it also puts pressure on Disney. We will hear from Disney after the bell tomorrow with their results, but looking at Bloomberg Intelligence data, they're really thinking about how, when You're looking more specifically on how their content costs could be basically the highest in you're looking at Disney around $30 billion. And so then also the entertainment programming potentially, this could be an AI play here as far as trimming down production budgets. But the issue there is obviously we see what's going on, especially in Hollywood with the strikes, and that's not something that they would definitely like when you're thinking about what that would mean for jobs. that's So a big thing to look ahead to for tomorrow after the bell. But then also looking at Fox, I mean, those shares up this morning as well, but that also was tied to especially on the digital ad side growth and the that we're seeing in that particular corner of the market. Yes, it's going to be a tough road, or it has been over the last couple years for these stocks, and I think it's going to continue to be a tough road as they try to figure out how to kind of make money of that. Eli Lilly's up 18%. Isn't that amazing? It is. And especially when you're looking at what happened with Novo Nordisk, especially a Danish pharmaceutical company, so those shares really jumped on this obesity trial that did exceed estimates. you're seeing So shares like Eli Lilly, which also obviously had their earnings beat expectations up a lot too, but then also seeing shares like Weight Watchers, or formerly known as Weight Watchers, but WW, and those stocks taking off that as well are tied into that type of space. Because their new business model is just to be a distributor of these fat shots. By the way, who has it? So, Novo Nordisk has the WeGov -y, right? Yes. And then, does have Eli the Lilly Ozempic? Yes, so that's where they have both of those, and so really when you're looking at those companies that are tied to having those drugs, that's what's really seeing a lift here. So, taking a look at some of these stocks over here, especially when you're looking at Eli Lilly, and actually if you're looking at what's happening with WW, I mean those shares for WW, that's up 20%, so on pace for its best day since May, and if you're looking at Lilly, ticker symbol LLY, that's up 17%, so that would put it pace on for its best percentage gain potentially ever here, if that could actually hold through the close there, and then Novo Nordisk, that's up about 17 % as well, so that would be at the close if that holds its since best August of 2002, so you're seeing huge moves there, which obviously if you're looking at what's happening in the healthcare space today too, getting a big lift there from these stocks. We got to get a BI guy, because I'm wrong to call fat it a shot, I think it's like an appetite suppressant shot, so it's not like it melts away fat, it just makes you want, what I'm hoping is it makes you want less or fewer sugary foods. Alright, well guess what we're going to do at 12 23 p .m. Wall Street time. We're going to talk to Mikey Shaw, smart, smart investor at Bloomberg Intelligence. He covers all pharma these big companies, he's going to join us and we'll get all the company there. Awesome, awesome, because I mean that thing, that's like just a game changer for America. Not only do you lose the weight, decreases but it your chance of, maybe, you know, decreases your chance of stroke and heart attack. These are concerns for a lot of people. All right. And that's, I mean, I mean, Lily, by the way, by the way, uh, Jess Vicks, 18, first time we've hit it since that level since, uh, I guess early May with the Vicks. I know maybe, maybe fewer people. Well, Tom cares about the Vicks and maybe other people care too, because because it means, uh, we're getting a little shaky here. We are. And we also happen to be in typically the worst, uh, two months historically when you're looking at from a seasonality perspective in August and September. So you have seen that pick up a little bit this month and especially when you look over the last two months with more of those cyclical quarters of the market, like industrials, materials, energy taking off, you're looking looking at this month, uh, most of them are actually losing so far this month. But I mean, we're only eight days in to August, so still always to go there. But we're looking from a volatility perspective. You are seeing that pick up a bit, but still 20. below So even though we have seen it pick up to its highest level in a couple months here, it's still historically pretty low and it's still around its 10 year average, too. All right, Jess, thanks so much for joining us, us giving that update here on the market. All right. What kind of the news today? One of the news drivers this morning has been Moody's downgrading the credit ratings of a bunch of the regional, super regional banks. It seems like where were you when
Bloomberg Radio New York
"commerzbank" Discussed on Bloomberg Radio New York
"Midterm election results are rolling in. We're going to go live to the state shortly in terms of the markets, S&P 500 features of wavered the now down a tenth of 1%. The potential for government gridlock in Washington scene is positive for stocks. The dollar we can slightly remember is taken about a two and a half percent hit since the FOMC just last week. Treasury yields were treated four 13, a couple of other interesting stories, so Beijing, COVID cases hitting a 5 month high, and yet you've had state help for Chinese developers so those shares of Chinese developers have soared the most in 8 months in terms of the suicide 300 though, that is currently down by 1% the hang seng also down by 1.6% this morning. The wild west of crypto will talk about two Bitcoin at the moment is down by 1.8% and we're seeing some results rolling in Stephen. Yeah, starting with the Dutch Andre Ben amro, their profits in the third quarter, €743 million, a massive beat on the estimate that was just under €291 million for the third quarter. In terms of commerce bank it beats from them as well and the third quarter net income a €195 million, the asthma had been for a 157. And if we look at the energy company eon as well, their earnings showing a massive increase in sales, 70% of year on year for the first 9 months of the year and the adjusted EBITDA figure there are 3% to just over €4 billion for the first 9 months of the year. Absolutely. I'm Bluebird will be speaking to the comments, but Commerzbank CFO bettina all up later this morning we will bring that to you when it happens. Also, let's go to our top stories this morning. Republicans have made gains in the race to take control of Congress through many of the closest races have yet to actually be called GOP majorities in one or both congressional chambers would end the Democrats control in Washington and lead to intensified partisan battles and policy gridlock. Ron DeSantis won a second term as Florida governor and used his victory speech to hint at a possible run for The White House in 2024. I have fought the good fight
Bloomberg Radio New York
"commerzbank" Discussed on Bloomberg Radio New York
"Of gains. We had the cables no down 8 tenths of 1% trading at one O 8 O three so still far off that record low that we hit on Monday morning of one O three 5 O, but we are seeing the gains that had been the scene after the Bank of England's intervention yesterday being paired in training today of course that'll have a massive effect on the guilt markets. We saw that record drop in the 30 year guilty old and a 106 bases points to three spot 92 back below 4% will be watching guilds as the girls as they guilt as they open up for trading later this morning elsewhere in the European barn space though, we're back into a sell off of Barnes after the rally that came yesterday, the German ten year bond yield of 9 basis points now two spot 21 the Italian ten year BTP's 11 basis points higher four spot 63 U.S. ten year treasury yields also moving higher this morning ten basis points higher three spot 83 is where that's trading now. This is after we had regional inflation figures coming in from North Rhine-Westphalia in Germany coming in much hotter than had been expected 10.1% the estimate had been for a much lower than that, so that is one of the things that's impacting markets today, the Euro is 7 times 1% weaker at 96, 6. This morning, we're also hearing from a range of ECB speakers from that central banking conference that's happening in Lithuania, the Portugal, bank of Portugal, governor Mario Santino saying that ECB still far from the neutral rate that decisions now must be measured and balanced. He said the bank is wary of having to backtrack on decisions, inflation, according to the ECB's Mueller calling for a significant rate hike to come. That's giving us some indications about the ECBs thinking. On equity markets, we are seeing shares moving mostly higher in Asia, the MSCI Pacific index is three tenths of 1% higher, the exception there is the hang sang in Hong Kong, which is down by half of 1% U.S. stocks 50 futures are a third of 1% lower S&P E minis are 6 tenths lower. Oil prices a little bit weaker in trading, brand cruised down 9 tenths of 1% to $88 and 53 cents. We'll be watching gas prices after the latest moves from Russia in terms of flows through the gas pipelines and of course that sanctions package and value yesterday that was jumping natural gas prices in Europe yesterday. Bitcoin is 9 tenths of 1% lower this morning, $19,393, but your Bloomberg business flash now here's leann garands with more on what's going on around the world, Leanne. Steven, thank you, let's start with the Chancellor quasi quatre, who is facing calls from members of the ruling Conservative Party to reverse the package of planned tax cuts that sparked turmoil in the markets. Meanwhile, executives sat some of the City of London's biggest firms told karting he should not wait until his November budget to lay how he intends to pay for his plans. This comes after the Bank of England dramatically intervened in the guilt market yesterday. Elsewhere, officials inside the US Treasury Department told said to be concerned about the volatility in financial markets from the UK government's plans. Bloomberg has learned the administration is working alongside the IMF to apply pressure on distrust as government. Meanwhile, former treasury secretary Larry summers says the Bank of England did need to intervene and finally we're going to talk a little bit about football and football injuries cost Europe's top clubs more than half a billion pounds last season, and players are apparently getting hurt even more according to Bloomberg analysis. The number of injuries in Europe's 5 biggest leagues rose 20% last season, that was compared with just a year earlier. The Premier League club which saw the most injuries was actually Chelsea global news 24 hours a day on air and on Bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. I'm Leon gerris, this is Bloomberg Caroline. You told me something new I didn't realize that Bloomberg analyzed the health and fitness of football players and what it all means in terms of ensuring them and injury costs. Anyway, very interesting. Yeah, it's absolutely brilliant article actually if you want to read it on Bloomberg UK, they've had a look into how much injuries are costing football clubs and why this is happening and apparently it's because way more games are being played and the footballers are in more demand and of course they paid absolutely massive salaries. So if you break it down, it does become half a billion, which is a huge amount of money, isn't it half a billion pounds last season on injuries. Thanks so much with our top stories. Right, let's dive into the bond markets this morning. But future setting a bearish mood for global bonds after a double digit inflation print in the North Rhine-Westphalia region, we of course get further a full German CPI data reading later today, treasuries are also slipping now the risk mood has been soured to because you see Sterling dropping against the dollar 8 tenths of 1% this morning. Joining us now is Christoph Riga, whose head of rates at Commerzbank, Kristoff, thanks so much for being with us. Look, we'll talk about the Bank of England in a minute, but first it's just focused on Germany, the inflation print out of this key German region, 10.1%, what do you expect from German CPI what does it mean for the inflation problem that the ECB has? Well, first of all, the market reaction clearly underscores how sensitive how nervous everyone is on the inflation trends. And on the German numbers, actually my economist just sitting behind me a bit shaking their head and disbelief by this market reaction because they've been calling for double digit inflation print this month all along. But yes, the consensus obviously has been lower. So it is a surprise, but I mean, for the September figure, definitely, I mean, higher print was on the cards and that is definitely giving the market quite a bit to chew on this morning. Do you think it puts further pressure on the Euro? Obviously, we're looking a lot of dollar strength being the dominant team and we have been largely focusing on the slump in the pound, but is this going to add another pressure factor to the single currency? It depends on how the ECB will react to this. I mean, we have a big lineup of ECB speakers actually today. I mean, you've already had featured a number of them actually on your programs. And the bottom line is the ways they need to front load and they now need to use this window that they have. Inflation is really still out of control while yes the economy is facing a recession, but it hasn't arrived in full. So there is this window now and therefore the front loading is likely to continue and as long as this message sticks
Bloomberg Radio New York
"commerzbank" Discussed on Bloomberg Radio New York
"This is Bloomberg daybreak Europe It increasingly looks like Putin has massively misjudged the situation He's misjudged the resistance of the Ukrainian people He underestimated the strength of the coalition Russia is trying to regroup resupply and reinforce its offensive We are clear that after these appalling crimes Russia has no place on the Human Rights Council Bloomberg daybreak Europe on Bloomberg radio Good morning everybody I'm Anna Edwards you're listening to Bloomberg radio live from London welcome to the program It's just gone 8 o'clock here in London just got 9 o'clock if you're in Paris or Berlin and today is a Tuesday which means I'm joined by Alex Webb from quicktake Hi Alex very nice to have you with me this hour We have a number of tech themes to focus on which I know is something of a passion of yours So that is great to have you along this hour And we start well we mark every 15 minutes with a check of the data So let's do that right now We have European stocks just opening up then for the second trading day of the European trading week And moving lower and this was expected the futures picture had been quite gloomy actually down by 1.4% on cat futures and dac features as we'd approached the start of the trading of the trading day And the reason we are seeing this weakness is of course we're kind of catching up with what we saw on Wall Street yesterday so Wall Street stocks down substantially yesterday in particular NASA stocks a tech focus a tech focus to the sell off as we saw the pace of that rise in U.S. yields perhaps continuing to surprise some And as a result stocks are moving a little bit lower So that's a narrative that we need to pick up here in Europe as well and run a little further So we are seeing that weakness in European stocks this morning the stock 600 down a percent the FTSE 100 down 8 tenths of a percent the cacao on down by 1.4% the Dax yet to open the ibex and FTSE Mir both down by more than 1% So this is reflecting Wall Street weakness of yesterday U.S. futures with that in mind though are weaker but not by the size of the moves that we saw in yesterday's session NASDAQ futures down by two tenths of 1% E minis and down futures down by around a third of a percent This is coming off a session in Asia that was marked by broadly weakness but some strength in some China related markets as some Chinese tech names rallying there on a bit of change of thinking around gaming companies but the MSCI Asia Pacific down by half a percent Oil prices are moving up this morning It's still around the $100 a barrel Mark So one O one spot 6 9 is where we trade on Brent That is up by more than 3% compared to yesterday's close The WTI price at 97 47 the yield on the U.S. ten year 2.81% so above 2.8% now that is speaking some investors perhaps a little And the U.S. two year yield 2.53% the dollar continues to strengthen on those higher treasury yields up by three tenths of a percent on the dollar index today the Euro is down a quarter of 1% one spot zero 8 but of course the real loser has been the yen and the yen continues its weakness down a quarter of 1% once you 5 is the handle on that one Alex Thanks Adam For more on some of the stocks that we've been watching this morning we're joined here in studio by Bloomberg's Lisa fam Lisa let's start with Germany some investors in Deutsche Bank and commerce bank selling a combined $2 billion worth of stock Can you unpack that for us a little bit Yeah it's quite interesting And undisclosed holder is looking to raise €1.4 billion by selling shares in Deutsche Bank while commerce bank shares with €508 million are up for sale by an unnamed investor according to terms seen by Bloomberg It's worth keeping in mind that cerberus capital management has sold down its stake in the two banking firms just a few months ago So European bank shares had done well during the first few weeks of the year but they've been hurt by Russia's war in Ukraine as investors moved money out of European assets We are seeing both those stocks down today commerce bank is down 6.9% and Deutsche Bank is currently down 8% The online fast fashion retailer asos meanwhile reporting sales that missed estimates what's going on there Yeah so asos were part of revenue for the first 6 months of the fiscal quarter that missed estimates and said this full year earnings call is at risk This is because of accelerating inflation as well as disruption from Russia's war in Ukraine And to give this a bit of context ASUS did really well during lockdowns in the early days of the pandemic but their position has been weakened by stores reopening shopping habits normalizing and supply chain delays The shares have lost more than a third of their value this year as it got caught up in the broader trends of investors rolling out of growth stocks and into value earlier this year Asos shares haven't opened just yet but we are seeing boohoo shares down 2.6% Meanwhile EasyJet or another company that clearly suffered from the pandemic lockdowns the forecast loss is narrower than the market had been expecting Yeah that's right And so we're seeing EasyJet shares up 1.2% at the moment They're the best performer in the stock 600 travel and leisure subgroup The company sees a headline pre-tax loss of between 535 million 565 million pounds which is lower than market expectations EasyJet said it is ramped up capacity throughout the quarter operating at 80% of fiscal year 2019 capacity in March So Morgan Stanley analysts they've noted that the cash flow is good and the booking trends for the summer is encouraging for all airlines It has been really up and down for airline shares over the past few years though they still haven't recovered to pre-pandemic levels So today's news is giving some positivity to the sector Well thank you so much for that Lisa Seeing Deutsche Bank big movements there the shares down 8% after an 11% drop yesterday meanwhile Commerzbank down 7.4% after a similar decline in the prior day Thanks Lisa and Anna Yeah absolutely So that's the stocks on the move then Let us get the latest on global news flow an updates on the global headlines.
Banking Transformed with Jim Marous
"commerzbank" Discussed on Banking Transformed with Jim Marous
"When you were communicating through those chance. You mentioned you you started with. Td bank usa during the pandemic so beyond the normal. How your scope may be changed in in a managerial sense. How did you in gulp of the marketing department and the responsibilities revolve during the pandemic and may be caused by the pandemic. What what changes. The dynamics have how you worked with others. But also how how. The marketing organization had worked within the overall Td bank yeah. I i'm not sure that it changed because of the pandemic but of the things that we've been working on over the last I think we probably started on this on this journey about a year ago is what we call marketing. Twenty twenty-five which really was looking both externally as well as internally to see now kind of wear our companies than and marketing teams at companies. Who really really aspires to look like. So we looked at some of the best purpose driven companies we looked at you know companies who really lead on digital marketing. Really understand kind of where to we need to take marketing at. Td while still aligned to our own brand to our company's business objectives strategies as we went on that journey. I would say the first thing that we realized is Marketing twenty twenty-five was sufficient. We need to actually Start working on it now so we changed it up very quickly to marketing. Twenty twenty five now and through that process. We defined our aspiration which was really important to our colleagues to say. Now where are we going. How do we stay ahead of this rapidly. Changing environment and so. Our aspiration is what we call to deliver to to be. Customer led growth engineers for the company. And so you know what sits behind that are really a couple of things firstly. Is this emphasis on the customer. Constant focus on that announce that's pervasive across the company. But we believe that marketing is kind of uniquely position to really really focus on customer. Look across business lines. It's not trout growth engineers. You know obviously we are a growth company And so marketing has a core role to play and an outsized role to play in contributing to that grouse and the engineer part really comes through integrating what i would call the art of creative marketing with the signs of analytical marketing recognizing a very very important component. That you know things like data analytics really Drive for through marketing. And so on through that we've also looked at what. What do we need from a talent perspective. How do we think about really growing our colleagues in the places that we know we're going to be hugely important for the future and so it really has We're still in the process of defining in terms of what it means for every person who's in the marketing or the corporate public affairs team so that everybody understands. Okay here's how. I contribute to being a customer led growth engineer and You know and so it's it's a really great though i think fishing annaspiratou n- that rallies the team including on both sides of the border. So given that your involvement with the employees and all that is this something every employee pretty much embraces netted is that marketing function parties function to really get the employs engage in what the vision of the overall organizations and participated in that. Yeah i think you have to. I think it's really important to know from your early questions around. What are the trends. What are we seeing happen in the marketplace. So i think we very much always need to have an eye to the external marketplace But aligning marketing to the business. Ask strategy to the business. Growth objectives is so important and we just see ourselves and our partners see marketing as being more and more of a growth driver. You know to your point where we are doing. Different kinds of transactions from the store perspective marketing really plays a very large role in terms of you know from a digital perspective and looking at a customer level strategy so sh- we do and we are very aligned to the overall organization on digital. I think it's interesting we've seen The customers during the pandemic and still taking place today are spending upwards of seventy seven and a half hours on social channels and online every single day outside of work. I don't know where the this time but you know. That's extraordinary marketing. Just is the part of the organization actually interacts with those customers when they're not on our own channels and so you know there is a really unique opportunity that marketing has to partner with the businesses. And make sure that we're really driving that customer experience from outside in so saying the employees for that really interests me that you have all these employs many the legacy you know commerzbank in and longtime td bank employees. That really were very focused on the branch experience. Jill are how do you transform them to re have them realize that they're also gonna be part of the digital experience that they're still going to be needed to fulfil the obligations as a multichannel concerned. But also if i'm only a digital consumer. That doesn't mean that. I'm not hearing from td banks. How do you help to make it so. These employees do not feel to risk because of what's going on in the digital world. I think it's an and and you. That's absolutely what we ought to our colleagues Whether they're in marketing their store employees in a lot of times. Actually our customers will come into our stores to learn more about what they can do. perspective so it's been an enormous focus of ours to make sure that people are digitally literate. They know how to help. People get online that we actually have easy content for them tax us online. One of the things that we did Probably two years ago was we really looked at what we call digital. I hugh and so we have these programs that really helped all of our marketers and beyond stay current and understand the foundational capabilities that are required for jet. Shaw a so. We i built this senate was day probably five or six series digital you. sasha or sentence touchdowns and ultimately took our leadership right up to the ceo of the company through all of his direct reports through what we call digital iq so they are all familiar with.
Banking Transformed with Jim Marous
"commerzbank" Discussed on Banking Transformed with Jim Marous
"In the uk I'd then went onto a bank in hong kong went into healthcare in singapore and ultimately back in the us. I worked for Cigna for about nine years and you know. A religious saw this great opportunity to join tv about six years ago. Ultimately i went to canada When i first started with the bank in iran brand in customer experience than you know to your point in your opening points it it's just been a highlight. A career highlight works per company. Who so deeply believes in both brands as well as customer experience and really understands. I think the connection between the two recognizing new. Your brand is the aspiration that you set but also customer experience relate is the delivery of fat so as just a terrific company to work for and like i said we just have great passionate around to our customers both in canada as well as in the. Us terrible over the past eighteen months. Marketing has certainly been the spotlight at most financial institutions are needed to create and promote a distance that we're both responsive to new marketing dynamics that were related to the pandemic. How did td bank monitor the shifts and consumer behavior and their expectation changes and how these lorries reflected in both campaigns and customer experience at td bank. Yeah you know i. there have been so many chefs. You the first one that i always think about really is just the acceleration of digital adoption. And mackenzie has this On inspiring statistic that says that digital adoption walton had five years just eight weeks at the beginning of the pam town next so you know for td for companies around the globe. I think we really had to figure out. The second area is has always been important. That is around. Franck her best and what we saw at the beginning of the pans. Now mac continues to thrive Even you know eighteen months later is just a sec. Speculation that consumers have around working Doing business with the company whose values matched their own and similarly from an employee n. colleague perspective calling a work shirt company whose values matched their own and so corpus has never been more important to end. You know to me. it's no longer. simply something. Some companies differentiate themselves on it is every company has to be purpose driven To have a sustainable future. So i think there have been and many other so many other trends whether it's the move to virtual. Td one of the things that we do internally we believe deeply in kind of infusing the culture internally and so we have a huge reward and recognition program that we call the wow awards and you know this year and and last actually we did virtual wars and we had set almost fifteen thousand colleagues in the us. Dial in virtually but what was great about it is typically. We did those person and so this year. Our colleagues got to bring their families than you know really share with the broader group. So i think there are a lot of things that endure well beyond The pandemic and that will make us better and and more thoughtful for both our customers as well as our colleagues. So it's interesting for those of you on the listening to podcasts. At may not be familiar with td bank. They acquired commerce bank and number of years ago but one thing to commerce bank was really really strong and was not only the brand experience but the community experience. They were known for hand out pens. Dog biscuits participate in every neighborhood. Prayed and no for the friendliness so over the years you know one of the question. I used to ask people that showed up a confrontation from. Td bank how do you create that level of emotion in a digital banking experience. Went branches continually dropping. So how do what is the secret to your success. As far as really bringing that that warm fuzzy feeling that t- that commerzbank was known for into a td bank digital banking experience. Yeah i wasn't here honestly during commerce bank days but I know that you know a lot of what they brought to. The cultures still endorsed today. I think it's important to start with the fact that you know. We continue to be a leader in retail convenience. As you sent we have a lot of you know what we consider to be kind of legacy proof points so things like you know longer in weekend hours having more locations dog biscuits you know where people can can bring their dog into the store before that was kind of in fashion. Now we see that everywhere and our pens and just an interesting story about our pens. We continue to give out many many many pans But just recently we actually have now started making down from recycling ball water bottles so that we make sure that we're really focusing on the environment and doing the right thing while still giving out those things that our customers have come to expect. In fact i started. When i moved back from singapore i moved to philadelphia and Didn't know tv as well. And because i'd always lived in places other than the east coast. And the way that i i got to know of. Td was through the pants. Every restaurant every cabdriver. That would hand out. A pen was like. Oh it's td bank so Definitely it makes the difference Store still are part of our strategy. A lot of her acquisition still happens in stores and we do know that. There's a time when people just prefer face to face. Interactions tends to be when they're seeking guidance or advice typically for more complex transactions. And i think contrary to popular belief even younger consumers when they're doing something like you know taking on a mortgage for the first time. They actually want to sit across the desk from someone to make sure that they understand us so we continue to believe you know that's an important part of our channel strategy at the same time. I think there's no doubt as you said that consumer preferences in habits changing many that are in sachse accelerated by covert which we talked about eighty eight percents of our own customers say that online mobile online were mobile. Banking is the most important aspect of convenience stores continued to be high over seventy percent for us. And so what we've done is continued to really invest in technology making sure that we're aligned with consumer expectations of online experiences. So you know there is more emphasis than ever on things. Like speed and ease You know consumers care for example. How many steps. It takes them to apply online so we do things like conversion on also looking to see like where people dropping out in going into those break points and making sure that we're addressing any challenges. But i think you know to the heart of your question as well as how do you. Retain a brand positioning of unexpectedly human across different different channels and for us independent of channel. We believe that our people and our conversational brand. Which is how we describe. Our brandon are really vital to the overall customer experience and so we really looked to put in what would be considered a human touch into any channel tv dot com mobile et cetera and religious kind of takeout lands.
Bloomberg Radio New York
"commerzbank" Discussed on Bloomberg Radio New York
"Here's Tom Mackenzie. Our guest this morning is your Cramer, chief economist at Commerzbank. You were saying that they're going to push out your view is non consensus are going to push out the P p p program. Beyond March. That is your view. What underpins that New York? Yeah, You're right. That means I'm not too much impressed of what the Hawks are saying. I'm in favor of what they're saying. But I do not forecast that they will prevail and the main reason is gross. You're right that currently growth is quite strong in the euro sound in the third quarter because it's still better. It's the benefiting from the relaxation of the corona related restrictions, but we have to look forward. And we have already seen two months in a row, a decline in the Ifo business climate. We have seen a collapse in the Chinese PM me for the service sector and we have a new corona wave of this corona wave. It's likely to dampen growth. Okay, so they extend it because of those growth concerns. Should we then assume that there are no reductions, at least in the amount. Today. Well, this is a total different decision. That means the decision at the end of each quarter regarding the monthly bond buying volume in the coming quarter. That means in the fourth quarter This is determined by short term tactical considerations here. More conversations like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile APP or check your local cable listings. America is much better shape than it was seven months ago when I took office, I need to tell you a second fact. We're in a tough stretch, and it could last for a while. Highly contagious Delta variant that I began to warn America about back in July spread late summer like it did in other countries before us, the president of the United States and Tom Kean, Forgive.
Bloomberg Radio New York
"commerzbank" Discussed on Bloomberg Radio New York
"China today to allow more flights from Europe. President Xi Jinping, responding with a warning not to let discussions about human rights get in the way of any kind of agreements Asahina reporting that the Japanese government is planning to hold the opening Olympic ceremony without fans. UK Prime Minister Boris Johnson says the country is on track to end all mask requirements and social distancing rules on July 19th. Very interesting study coming out of Israel. Israel today of the Pfizer vaccine, says it remains very good at preventing serious illness from the delta variant. But drops from 94 to 64% efficacy in preventing people contracting the variant strain itself. Indonesia plans to start importing oxygen tanks as a country battles of fresh wave of infections is overwhelmed. It's medical system. Myanmar reporting almost 3000 new covid cases, recording the highest daily count since it was first detected in March of last year, and search and rescue efforts are back on on service and Surfside, Florida Nearly 120 people are still unaccounted for. In San Francisco. I met Baxter. This is Bloomberg jewels. Thank you so much. Ed. Let's get now to Hangzhou, senior economist at Commerzbank to discuss China's economy and markets and joining us from Singapore was great to see how let's start. There's a lot to talk about the crackdown on tech as well, but with the overall economy because we had the official PMS last week, But then the Taishin Services yesterday, the weakest reed since April 2020. So all of this, I guess showing that we are starting to see Some stabilization or slow down here in the recovery. Yes, I think in a technical slowdown in China's smallest warranty, Basically, what we have seen is that here is that, you know, basically the service and also domestic consumption does not look As good as initially predicted. So basically, it means that you know, we're going to see that the headline growth has 15 China in the first quarter of this year and going forward, I think you two growth will be will be likely below 8%. And we're going to see more further slow down in the next few quarters, So I think you know a significant slowdown is there in China? And most of our guests don't seem too concerned about the Chinese economy at the moment, But investors certainly concerned about the regulators was just looking at Naspers and and process shares, which are sort of Proxies for 10 Cent. They sold down 6% overnight and that's after 10 cents selloff yesterday. Here in Hong Kong 3.6%. Are you seeing? What might be called an authoritarian shift in the Chinese regulators, just citing what's happened with DD what I think you know, what we have seen is that starting from this year in a basically, the Chinese regulators had tightened the rules towards the overall tech sector, I think you know and trust and also national security, cyber issues that definitely something you know in the regulators, the might So I think, you know, maybe this is kind of a bigger framework that tried to crack down or try to regulate the overall tech sector. That has been overwhelmingly, you know. Embrace the economy embraced the consumption the past few years. I think you know we are going to see what's going to happen next. But I think the Chinese are very clear that a China wants to contain the domestic development of these kind of tech companies. Kind of begs the question as well, whether or not makes investing in tech either in the U. S, or in China a little bit more risky, But I know we're focusing more on the economy here with you. We We did see a lot of jumping out of the equity market, though at the end of last week, and that was after we saw the 1/100 anniversary of the CCP. Tell us I guess about you know what you read through from that and the further, I guess, kind of Moves to try and stabilize these markets. Well, I think you know what we can see here in China that you know, basically, consumption does not look good that at this moment, I think that's how somehow you know at this point of market so basically know that the text box in the consumption that stuff that has been chased by the market over the past few years, so right now, the question Mark has been has been on the table. I think that's one thing. The other thing is that you If China you have the technical slow down that the manufacturing sector we also have to think about that, especially as the exports looks like has has to slow down in the second half of this year, But I think overall, there's evaluation concerns in the Chinese stock market. But of course, on the other hand, we have to say that summer stock that looks like the valuation not not so low at this moment as well. So I think that kind of things that the momentum look, look to be a Slowing down in China, and the investors has has to be a bit more kind of cautious for now. Is China Ink as a brand? Um, slipping a little now is it? Is it suffering in your view? Well, I think you know what do we have? What we can see A is that you know that China Inc of this kind of Chinese names you know, has to think about you know, because in the past when we talk about these all these kind of things, you would say, OK, the market with great consumption will continue to increase. But now is that at least on the growth site have to think about whether that these companies can continue to generate the profits as As initially projected. So I think that's the thing for markets and if that kind of question markets there, and they'll have to wait to see more quarter reports and also kind of more come from China's regulatory side. So that's kind of a lot of uncertainties over here. So that's why I think that explains the overall kind of cautious mood in the market. We know a lot of their recovery is also based on consumption. You're looking for example at China passenger car sales. We've also heard from France and Germany trying to get more flights to check to drum up tourism as well. And I imagine let people go back to their homes. How is that going to help overall with the economy and I guess what are you looking at on the consumption side? Well, I think you know this is somehow different thinking in China and Europe because you know China still wants to have a zero tolerance on the virus. But we can see that in UK and Europe. All this kind of opening up measures have been announced has been under consideration, but I don't think that China Well, quickly Do that, or any time soon. So basically, this means that there is still communication gap between China and particularly the West Award Western world. So I think you know from that kind of perspective Consumption side in China. The most important thing is not from Exxon. Inside the most important things on the domestic see part so, But given that the credit tightening is is looming, I think you know for next year the credit Growth will be even even slower. So the consumption does not, uh, look to be improving anytime soon as building that, maybe that there are still kind of stabilization or kind of moderation in consumption. Growth, at least in the coming quarters. We know that if they if they do stimulate consumption, they won't need as much outside foreign investment. But obviously foreign investment has been has been good for the Chinese economy. Anecdotally, I can tell you I had dinner with a couple of different people over the week over the long weekend. And both said they're very wary now about investing in China. And I'm not talking about in stocks or bonds, or I'm talking about, you know, hard investments. Uh, do you think that that's something that Is may be headed down a little bit over over the coming years. I think you know, when we look at the overall FBI, I think in general has been has been nothing a very strong momentum over the past few years. And of course, you know when we talk about the overall kind of long term investment, particularly into into China, we have to think about you know, the manufacturing side. Uh, you know, basically what will be the outlook. And.
Bloomberg Radio New York - Recording Feed
"commerzbank" Discussed on Bloomberg Radio New York - Recording Feed
"If trying to figure out the future of your business is keeping you up at night. are you seeing. come back at all. At least you have company. What do you make of the most recent virus headlines now should labor respond hyping to get political pressure experts. Information breaking news all day. All night everywhere. Do you expect the euro to continue to strengthen. Why even have this. Hearing bloomberg radio the bloomberg business happened bloombergradio dot com bloomberg. The world is listening or is it a bloomberg dot com the global business and bloomberg quick. Take this is bloomberg radio. This is bloomberg daybreak. Europe this wednesday the twelfth of may any owns and coming up this hour inflation jitters grip the markets ahead of us cpi data taiwan leads asian stocks lower after the snp sees a second day of losses and abyan amro commerzbank. An alliens report ahead of the eu spring forecast deadly attacks in israel threatened to escalate into full-scale war and china's sign evac jab is seen as highly effective in real world study indonesia and health workers. I'm the unguaranteed world news and lex greenfield denies being a food stood to the treasury select committee as david cameron shown to have foam boarded the government with messages on behalf of green silk capital. That's all straight ahead on bloomberg daybreak.
The Great Fail
"commerzbank" Discussed on The Great Fail
"Card. Which once represented germany's national. Pride became a true national shane. Now here's what's so compelling to me i. The sheer scale of the scandal was so massive that it's now being referred to as the enron of germany second there were so many warning signs stemming backed over a decade ago and get those signs were heated and dismissed spy the company and the regulators critics and sceptics of wildcard found themselves at the other end of intimidation tactics. After speaking out about their doubts some have been reported to have been followed. Have their homes and offices broken into laptop stolen and they were subject to email hacks in anonymous threats. So despite the red flags the company c. o. marcus. Brian kept his poker face on when analysts. Reporters and investors questioned the company's operations and financial position and behind the scenes. There were some pretty dark secrets that would soon have the house of cards come crashing down back in nineteen ninety nine. There was a little known company called wire card. the munich-based company was involved in payment processing. Kinda like pay pal services but when marcus brown joins in two thousand and two wire card was on the verge of collapse braun previously worked one of the big four accounting firms. Kpmg and had a background as a computer science expert. When he joined the company he saw an opportunity to offer wire card services to pornography and gambling sites given that those were the areas that online payment companies would steer away from the value in working with these taboo industries catapulted the company's success as they pursued expansion strategy and putting them on the map rivaling other payment juggernauts dauth as a payment processor offer solutions for payment processing gambling and pornography because as we all know pulling industry very frontrunner when it comes to technical solution porn industry they set the stand out for videotapes and later on they to stand up for payment solutions. That was dr marc liebscher. An attorney with berlin law firm that is currently representing wildcard investors in a class action lawsuit. Compare it so paypal and dine mastercard payment solutions for online shopping and in addition to that later on why of cock-up credit card together with the mastercard. So it's a mixture of paypal either now to understand their growth strategy. Here's how wire cards sales exploded. The company focused on international growth by using third party partners. Since they didn't have licenses to conduct in other countries these partnerships allow them to reap the benefits of producing revenues while allowing the partners to process payments efficiently through wire cards technology. This was the key part of their business. That made them both. An innovator and a disruptor in the financial world card was successful at making contactless payments. So simple and easy and between two thousand and eleven and two thousand and fourteen. They went on a buying spree to snatch up a bunch of these third party. Payment companies generating more income leering in more investors and racking up its share price. They wore a force to be reckoned with. And it saw such success that in two thousand and five wire carbon public and listed on the frankfurt stock exchange from the financial side the numbers to produced boris downing and the leader at its helm became a recognizable fixture in speaking circuits at tech conferences. Adopting the steve jobs black turtlenecks while getting the future of a i and cashless payments solutions. Marcus brown was the mocked viacom. Build wildcard to hunker the world. He builds viacom from cuba. Vian company into german tech. I come and he always tried to present himself. As the steve jobs of your more black turtleneck pullover and when answering questions he was speaking very detached from reality and the abstract philosophical terms and he wanted to to embed much show in south as genius and mastermind. Mind been envisioning us. Company like wia card and he came to car actually as a consultant when y account was in financial trouble and lays on higher at wildcard as and he predicted for at all the details payments with digital within a decade. And he wants that. The aim of the boards to conquer the world and a powerful again equate aside from that the capital markets loved company very compelling investment because it had a huge success story of an earnings and revenue every year doubled earnings doubled revenues. So the stolley point to eliah costs was audited by unfit yang. So why auditing story sell side. Analysts were unanimously positive with goldman sachs issuing a conviction by reading and they were being supported from deutsche and commerzbank who helped fund the company's acquisition deals. but little. Did anyone suspect that the company executives were actually stacking the deck. Despite the stardom there were doubts dating all.
Heartland Newsfeed Radio Network
"commerzbank" Discussed on Heartland Newsfeed Radio Network
"We'll return to the exciting second act of our frontier town adventure in just about one minute. And honestly i have no clue why bruce els who produced the shows build jeff chandler as tex chandler instead of jeff chandler. All i knows he did it and weighed crosby in the early episodes got no credit whatsoever for the character of cherokee This is frontier town from sixty eight years ago january. Second one thousand nine hundred fifty three on this saturday edition of classic radio theater coming up next. We'll have the news of that date from sixty eight years ago and the conclusion of frontier town as much as life has changed over the last year. You're still pretty busy. So consider convenient covid nineteen testing from quest. Get the same tests hospitals use without a doctor visit simply order online select from drive thru or at home options and get results sent securely to your phone or computer. It's a great fit for your busy life with over twenty five million covid nineteen tests processed. You can count on quest so order your test. Today at quest covid nineteen dot com. It takes thousands of hours to become an astronaut right nina. Oh i'm not an astronaut. I'm a design consultant at the container store. But you explore space. I help you find space with our alpha closet systems. And you're an expert pretty good at it and you use satellites to communicate. I'm doing more virtual in-home closet designs. But i wouldn't say she'll do astronaut nina for helping us find space. You're welcome hurried. The container store to save thirty percent on the systems at the container store where space i'm sprung. Christmas time is over. But you know what's not over the my pillow special berry special deal right now and you pulled. Kurt heard me talk about mypillow now for close to three years you know that the mypillow never goes flat. You can wash them and dry them. They come out just as good as new. They maintain their shape and they are made in the usa. They all come with a ten year warranty and for a limited time. Mike lindell offering his premium my pillows for a very special price the standard queen sized premium. My pillows forty dollars up twenty nine ninety eight king-size my pillow's the premium pillows are only five dollars more and the sixty day money back guarantee now has been extended to march first of twenty twenty one. What a great time to get a my pillow for you or the person you love. Yeah i give it to. Him is late christmas gift. Just give it to them or get an extra one for yourself. Go to mypillow dot com. Click on the radio listener square. Use my promo code. Usa or call one eight hundred nine five one eight one seven five and use my promo code usa. The benefit of going online is that you can see all the other the giza dreams. Bedsheets mypillow mattress topper. My pillow dog beds and the my pillow towel sets. That are absolutely. Don't wait go right now. To mypillow dot com. Click on the radio listener special. Use my promo code. Usa or call one eight hundred nine five one eight one seven five the best thing to get you in shape for a new year is the gift of a great night's sleep. My pillow dot com radio listener square. Use my promo code. Usa connecting the in your daily life can be a real challenge. You're a mother an entrepreneur coach chef a friend a manager even a chauffeur lot to manage especially when it comes to money and it changes every day at commerce bank. We've got the tools and talent to help you. Commerce back challenge accept it visit us at commerzbank dot com member. Fdic it takes.
Bloomberg Surveillance
Deutsche Bank stock soars 14% as investor takes stake
"So I'm looking at Deutsche Bank here stock is up a little more than ten percent today fifty two week high in part because of some news that Deutsche Bank that capital group is taken a three percent stake in Deutsche Bank so Steve errands Bloomberg news from Deutsche a bank from Germany once you don't what does it really mean here for Deutsche Bank had the stock has been so beaten down so what does it really mean for them yeah it's a five minute show it's I think it's I mean the share price says it all it's a big boost for the CEO unveiled a very ambitious turnaround plan last year people at first didn't believe the plan the stock actually had an all time low just in August but for some reason he he's given people more faith in his play in his own performance and to actually unveiled pretty good numbers for a week and that has really boosted to share and the decision by capital group now highlights how investors seemingly take take faith in the plan and a willing to put the money on it the store owner let's be sure folks is not an index fund purchase like vanguard or State Street in the others is an active manager going in is it perceived there Steve almost like a sovereign wealth fund purchase it's certainly something as you said this is a very very sophisticated investor it's an investor that will look at its target for a long time before making a decision we've been told they were actually here in Frankfort on the investor day in December people from capital group and spoke with the CEO and other people of the bank to make sure they're invest would pay pay off the and I think that has happened to them it's the it's a very very well and well thought through death when I think so Steve what is investors believe that Deutsche Bank has to execute on first and best what the house what what they like first of all is that day they've been managing through this deeper structuring without dipping too deeply into the couple questions so capital strength financial strength is better than initially expected and that's a big positive trading which is still one of the two banks traditional strength was impacted less than many people had feared and is now serving shows you can lease them the revenue decline in other parts of the business then you know we may even seem right we'll see what I want to replace also idealised hearing in trouble John Nichols way but I'm gonna cut to the chase does precluded torture bring cash call that's all this comes down to the big fear is David to go back to the well to Qatar and the others to to you know recharge the ballot she is that out of the way now I think that's part of the reasons why people are now willing to commit more money to it because the the less than expected and kapple the regulatory capital means it's now likely to manage to that more likely than before that they will be able to manage to the restructuring without having to ask shareholders for more money and see I guess the other issue out there is is there any type of merger that might be on the horizon for Deutsche Bank well you probably know they went into formal talks with the other German bank Commerzbank last year and that didn't go anywhere sure I'm pretty sure and setting his sights on the record they will not allow the consolidation but I think it's highly unlikely for now but I mean it's pretty close something that seven would like to do one one the bank stronger very good seeders thank you so much greatly appreciated from front for here's capital group Los Angeles dives into a significant position on
Bloomberg Daybreak
Decline in German industrial output adds to recession fears
"And Germany we have data showing industrial production continues to worsen German output fell six tenths of a percent in September with manufacturing fueling the decline in earnings out of Germany don't paint a much better picture shares of Commerzbank are down more than one percent after the bank cut its outlook for the year the lender says negative rates and higher taxes are hurting
Bloomberg Daybreak: Europe
Danske Bank appoints new CFO from Commerzbank
"Save an interesting line of for the markets to digest danske bank CFO Balzer is leaving and Stephen Stefan Raab angles it's been named the new CFO at
Fox News Sunday
Deutsche Bank to axe 18,000 jobs
"Deutsche Bank will cut about eighteen thousand jobs by twenty twenty two this as the trouble German lender revamps itself getting out of equities sales and trading and setting up a so called bad bank Deutsche Bank expects restructuring charges of eight point three billion dollars through twenty twenty two to pay for the radical overhaul and will cancel the dividend in twenty nineteen and twenty twenty about eighty three billion dollars worth of assets will become part of the new non core unit the bad bank Deutsche Bank said retail chief Frank Strauss and chief regulatory officer Sylvie Mateer at both board members will leave this month the departure of investment bank head Garth Richie was announced on Friday the scale of the revamped underscores the failed turnarounds by CEO Christian serving and his predecessors to solve a fundamental problem costs were too high and revenue was too low seven had few other options to boost market confidence after government brokered merger talks with Germany's Commerzbank collapsed in
WSJ What's News
Deutsche Bank-Commerzbank merger talks collapse
"This morning after years of flirting with a tie up to German banking giants have called off their merger talks Commerzbank and deutchebanks said they'd ended the merger talks which puts in tatters, the German government's plans to shore up both banks. It's also likely to unleash fresh attempts by other banks to try and scoop up one or both of them a process that could spur the biggest reshuffling of European banking assets. Since the financial crisis.
Bloomberg Surveillance
Deutsche Bank, Commerzbank And Karen discussed on Bloomberg Surveillance
"Karen talks between Commerzbank and Deutsche Bank over the German. Linda's ended merge discussions saying combination wouldn't create sufficient benefits offset
Bloomberg Surveillance
German bank merger crumbles as Deutsche Bank tie-up talks with Commerzbank end
"Let's start with the main event. A big story this morning, Deutsche Bank and Commerzbank. The talks are Hoover. I want to bring in Bloomberg's Matt Miller to get up. To speed on the end of merger talks. What broken well Berlin has been against this really from from day one with the exception of the finance ministry, Olaf Scholtz and his deputy your cookies were really the driving force behind these talks to begin with. But as soon as people started talking about thirty to forty thousand job cuts as a result. It just was it just was a bad look for everybody here and Anglo miracle and the rest of the and the rest of the powerful politicians in the capital fought against it. So from Deutsche Bank perspective, it was just at least what they said this morning, it just proved to be too expensive and too complex to pull off. But from a political perspective, it just wasn't gonna fly so coma. Spanked potentially have got other downspouts we've seen in the news. I and cheer interested. We've seen in the news several reports that only credit is said to be interested as well. Where does it leave? What you back, man. Yeah. I actually asked. To the CFO James von Moltke this today because obviously by stepping out of the running to buy Commerce Bank. They leave themselves open to competition in the future. If someone else comes in buys Commerce Bank. They can get big in Germany, listen to what on mulkey told me. Yes, we do envisage over time that industry consolidation will take place in Europe, and the dodger bunk wants to be part of that the timing and the specific form of that obviously remains to be seen. We've talked a lot about doing our homework to continue executing on our plans executing on the restructuring of the company and the improvement in our shareholder returns. So not only did they discuss the facts that Commerce Bank could become really serious competition. If they get taken over by European competitor. They do want to stay in the consolidation of European banks going forward just not right now
Bloomberg Daybreak: Europe
Equities rally slows as trade talks continue in Washington
"Let's start with banks. I'll let you take it over from here. Let's start with comas Bank. The the bank's index. Hey, so we had this report for the financial times that UniCredit considering preparing a bid which would according to. This would involve them building up his taking comes back and then combining with their own German unit if the deutscher mindue falls through and it's worth noting this morning. We also had a story that as far as it goes most size of the political spectrum in Germany seems to be giving a big thumbs down the Deutsche Bank, Commerzbank merger possibly could endanger for some point this year and UniCredit may well step in. Yeah. And the reaction we're seeing Deutsche Bank opening up down some eight tenths of a percent on the flip side. You're seeing Commerzbank actually one of the best performers on the stock. Six hundred right now of three point three percent. So we're seeing some reaction coming through the early doors. Let's talk about stocks related to the potential outcome on Brexit as well. What are you folks? It's becoming almost impossible now to predict what stocks are going to be based on bracing on the anything. Hey. That's not too far off. I mean, you would think is just talking about Bill went through actively blocking a no, do you could argue this adds more uncertainty because of course, everything agreed with the EU which seems to get forgotten when we talk about Brexit, but this morning a lot of the companies you would expect he benefit from. This says government contractors some of the domestic pencil Lloyd's, for example is much lower this morning down. But we also have a couple of going up. So some of the house Bill does Berkeley Barra. Their arising robot of Scotland is this morning completely mixed reaction. No greater action for breakfast, sensitive stocks this morning. I just want to bring some headlines coming through. Because of course, what we were expecting today was the listing of Merced drilling. So this, of course, a demerger happening from AP Mullah mercy. Api immerse shares by the way, falling some ten percent after that Moore, sterling demerger and looking at most rolling shares. They have been valued at twenty three point nine Bill. Danish kroner in the Copenhagen debut. I think that's the latest number. We've got but we'll come back to that. And update you as those numbers come through one. Keep an eye on saga talked to us about that. Yes. Saga pretty comprehensive profit warning from saga today. So the profit warning for the coming year there will say writing down assets changing the structure their business with the right downs mainly to do with the insurance business and they cut their dividend. So basically, everything you could possibly do to make a shell somewhat upset and indeed shares down thirty seven percent right now and actually fell a little bit more than just the they are going to be a day very much in the
Biz 1190 Overnight featuring Bloomberg Radio
Commerzbank Hires Goldman, Rothschild as Advisers
"Commerzbank has hired Goldman Sachs then Rothschild to advise merger talks with Deutsche having previously worked as a team on other potential takeover offers sources say Georgia is yet to formally appointed visors for deal successful merger could create Europe's fourth largest Bank by assets and help lower costs and funding expenses, the German government says it will accept job
Bloomberg Daybreak: Europe
Deutsche Bank, Hang Seng And Commerce Bank discussed on Bloomberg Daybreak: Europe
"That's right. And we're looking at first of all I should say the reason I'm here. If you just tuned in is that yesterday, Deutsche Bank and Commerzbank. Both both announced that they were officially going into merger talks or talks to work together in some way to try and overcome the problems that they both have. So I've come to Frankfort to talk to a number of shareholders and stakeholders in these two banks and try and figure out what's going to happen. It's still could take months of negotiation before the bigger Deutsche Bank buys the smaller Commerce Bank. But the government is firmly behind it and has given them the okay to cut jobs pretty drastically. Which is what they would need to do. So now, we're here to watch. What happens? It'll be interesting to see what happens to the shares today. It's not like this is necessarily surprise. We've been expecting this informal. Talks been going on for months, but we do see shares otherwise rising around the world. So Asian shares the. Japanese indexes, for example, or up about seven tenths of one percent. The Hang Seng in Hong Kong is up more than one percent. The CSI three hundred in China is up two point six percent. So there's quite a lot of. Risk on sentiment in markets. And we see that reflected in European and US equity
Bloomberg Businessweek
Deutsche Bank set to announce merger talks with Commerzbank: source
"Has learned to Deutsche Bank and Commerce Bank are ready to announce they are talking about a merger this after the German government signaled it will allow job in cost cuts the boards of both companies are planning to meet separately. As a first step Deutsche Bank and Commerzbank declined to comment. Bloomberg has learned Aaliyah's S E is exploring the possibility of a combination of its asset management arm with deutchebanks DWA group. A source says it's early in the deliberations, and the talks might not go anywhere as we've been reporting the Arlington Virginia county board unanimously approved a twenty three million dollar incentive package for Amazon to build a headquarters facility in crystal city. The five zero vote yesterday was the final action granting local and state subsidies to Amazon as part of its much publicized plan to create at least twenty five thousand jobs over twelve years. Investors took heart from last week's gains that saw the S and P five hundred rise two point nine percent for
BTV Simulcast
Donald Trump, US and Sweden discussed on BTV Simulcast
"Hundred sixty seven billion dollars worth of Chinese goods, if he falls through total levies would more than cover the value of all goods, the US buys from China. According to government data from last year. Sweden votes today following a turbulent election campaign establishment parties
Bloomberg Markets
These 3 airlines to suffer most from growing trade dispute, analyst says
"On bloomberg television now let's go to our ninety nine one newsroom in washington dc where nancy lyons has world and national headlines nancy ministration is planning to revoke obama era policies that encourage the use of race in college admissions to promote diversity on campuses this is according to multiple reports the decision follows an inquiry from attorney general jeff sessions who asked justice officials to reevaluate past policies that he believed pushed the department to act beyond what the law of the constitution and the supreme court had required an announcement on the policy changes expected later today president trump search for a supreme court nominee is expected to take up his time this week and red state democrats are watching very carefully red state democrats are in a tough spot republican strategist ryan williams says no matter what they do they could risk losing support the democratic base will be outraged any member of their party who votes for whoever the nominee is and if you vote against the nominee red state and all the trump voters are going to be upset with you that could be a problem williams says the dan's need to watch how the confirmation hearings go and who the nominee is he says there's always the chance the nomination could blow up so they need to take a wait and see approach in washington i'm amy morris bloomberg radio tie navy seals say all thirteen people trapped in a flooded cavern in northern thailand are healthy and being looked after by medics they're still stuck in that cave while officials determined the best options for bringing them out before the rain returns in the cave floods again at the world cup today sweden defeated switzerland in the day's first match global news twenty four hours a day on air and ticked off on twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries thanks nancy now with our other top stories i'm uni han the us is big three carriers american airlines delta and united continental downgraded by deutsche bank the analysts cited heightened geopolitical risk and the lack of near term catalysts the report said the current trade dispute between us and others could hamper the airline industry's growth given its close correlation the imports and exports of goods and services one french bank expand in germany europe's largest economy bloomberg's ed corry has details so generalities acquiring commerzbank exchangetraded products and.
America in the Morning
Tom Busby, Cnbc and New York discussed on America in the Morning
"The nba and you tv expected to make some kind of announcement today about carrying games and here's a sure sign of a strong us economy the department of transportation says last year americans took a record nine hundred sixty five million airline flights up three and a half percent from a year before while the average price of regular grade gasoline shot up seven cents a gallon over the past two weeks to two dollars sixty six cents industry analyst trilby lundberg said the increase was primarily driven by rising crude oil prices facebook ceo mark zuckerberg has signed ads placed in a number of american and british newspapers saying the social media platform doesn't deserve to be entrusted with personal information if it can't protect it tom could this be another rocky week for facebook while the bad news for facebook over that data mining scandal linked to the trump presidential campaign not even close to being over on wall street last week shares down thirteen percent that means a lost about an eight eighth of its value so investors aren't happy also companies including tesla spacex the speaker maker sonos mazula that's the maker of the fire fox web browser and the german bank commerzbank all pulled their ads off their service or deleted their accounts and it took ceo mark zuckerberg at least three days to respond publicly to that scandal so a lot of people aren't happy about that and the company is facing investigations in britain israel several states including new york massachusetts and maybe oregon and of course in congress so look for a lot more misery for facebook in the week ahead cnbc's tom busby at twenty two after facebook notwithstanding there was a major.