35 Burst results for "Deutchebanks"

US Democrat Senate Wins Push Stocks Higher

Yahoo Finance Daily

01:05 min | 11 months ago

US Democrat Senate Wins Push Stocks Higher

"Afternoon. The associated press reported democrat. Jon ossoff was the winner of the second georgia's senate runoff election defeating incumbent. Republican david perdue democrat rafael. Warnock was called as the victor of the senate race against incumbent. Republican kelly leffler. This gave democrats a very narrow majority in the chamber. When considering vice president-elect kamla harris's ability to cast tie-breaking votes financial materials and energy stocks extended gains as prospects amid the democratic sweep given suctions that a unified democratic government would advance more virus relief stimulus and increase infrastructure spending our us economics have indicated that a democratic senate would likely lead to another large fiscal stimulus package possibly including some priorities of the new administration such as infrastructure deutchebanks. Economists said in a note wednesday. They see this as a material up signed to their gdp forecast which they currently see rising four point three percent q over q four in two thousand and twenty one

Us Senate Georgia Runoff Stock Market Democratic Senate Jon Ossoff David Perdue Kelly Leffler Senate Elect Kamla Harris Warnock The Associated Press Rafael Georgia United States
Blockchain & Digitising Trade Finance  Insights from Contour

Insureblocks

05:38 min | 1 year ago

Blockchain & Digitising Trade Finance Insights from Contour

"Call. Thank you for joining us today. Could you please give us a quick introduction on yourself thank you lead and thank you for the opportunity to be here. Introduction of myself. I guess away sometimes they usually introduce myself as I've been SORTA DOING FINTECH for thirty years all in Asia. So I grew up in the states but came out to Asian in college and then stayed out here but. Thirty. Years of Fintech. So I've done about twenty years of thin. So I've been in in worked at various. Banks Bank of Boston Standard Charter deutchebanks on transaction banking trade finance and cash management, and then ten years of tax. So I've worked at I left banking a few times I left in two thousand during the DOT com days to work for a company called trade card, which later became gt nexus and set up the Asia operations and then I. Left. Banking again in in in two thousand sixteen to to work for for our three and and helped set up a lot of Asian operations for them and my my third startup now is is contour which started seven months ago. So yeah about thirty years of of Finn INTECH. Extensive. Indeed of an anti corporate and start up world. You've got it all. So Call as it is customary here at blogs could you please explain to our listeners? What is blockchain and how does it work? What is blockchain? Well, I I think I'll I'll go to the the level below and distributed ledger technology and really disturb alleged technology is is is an opportunity for instead of managing your data in one central database actually everyone having their data in their own database and so just to be ledger instead of breaking it up and and it's goes back to the way our three and quarter talk about it. Is You, know we we all should should own our own data. And then we there should be a protocol to share it and you shouldn't share it with everyone. And sharing with everyone is is traditional blockchain which be the broadcast method of of consensus, but instead a quarter. On distributed ledger technology basis manages data by having them Even everyone has a note everyone has their own database, but there's a protocol, the sheriff, and that's how. Quarter works, and that's actually what contours built on. And Great and I think it's important. You know the point you just made about. It was blockchain near sharing with everyone in whiz these legend technology you only sharing with the relevant parties because that's sometimes it's something that is misunderstood too often by people who are introduced to this world though thank you for that. They usually sort of say has also is is when I talk about traditional blockchain, Mus the broadcast method and I do it in in Taiwan to Taiwan fifty years ago you when you got when you got married, you didn't need to register to to get married. You you you just had a big dinner. You had a big new invited everyone in the village. To. Front of everyone the village said I'm marrying this woman and therefore everyone knew you're married you didn't have to register anything but the fact is that everyone knew it and then it became a fact and that actually sort of this is a consensus method in in in an old version. Indeed indeed. Thank you for that The. World Trade Organization estimates that between eighty percent and ninety percent of global trade relies on trade finance. Yet, there is a one point five, trillion dollar gap between the market demand and supply for trade finance something, which I'm sure was co Vina's has probably increased US instead. And KYC and am. L. Requirements remain the most cited barrier was high transaction fees and low credit ratings running up the top three SME's remain disproportionately affected by these and other bears experiencing a forty five percents rejection rate on proposals, which is much larger than than seventeen percent seen by multinational organizations. What are your views on these challenges? Again International Trade. It started out of minutes it's been going on for a long time. You always have this distrust deficit when you have a buyer and seller in in far off countries now that trust deficit is a little bit easier to manage now because you have the Internet and you can see people online and you can skype them and talk to them and Imagine what it was like when you you had to put money down for shipment that would come three months later and you didn't even know the person you only known by a letter right so obviously, it's gotten a lot better with with communications nowadays but I'm in the challenge is really for for SME's is is related to data right because a bank. Bank as a as a lender right as a facilitator of of credit. Is. Looking. To to not make a mistake banks don't really have to. A. Lot of banks goals is is not necessarily to make money but don't lose it. Right and they'll make mistakes on credit and it's very hard for SME's to have A. To have enough information or the information that they have is not sufficient to tick the boxes on a traditional credit scoring sheet, which which the banks us

Fintech SME United States Asia World Trade Organization Banks Bank Taiwan International Trade Finn Intech Boston Standard Charter A. To
'Dark Towers' Chases Scandal-Ridden Institution Deutsche Bank

The Book Review

08:10 min | 1 year ago

'Dark Towers' Chases Scandal-Ridden Institution Deutsche Bank

"David ensor joins us now. His new book is called Dark Towers. Deutsche Bank Donald Trump an epic tale of destruction it debuts this week at number two on the New York Times bestseller list and I also have to disclose that. David is my cousin in law and he eats all the pie Thanksgiving about his nonetheless. Welcome here on the PODCAST. Lobo I didn't know what you're going to get that person quickly. Yeah important. Why people to know Dave? Thanks for being here. That's revenue so we're not GonNa talk about that crime. We're GONNA talk about some other ones. This is a book about deutchebanks. Started off with reporting that you did beginning around two thousand fourteen. I was in London working at the time of the Wall Street Journal and I'd already been kind of obsessing about Deutsche Bank. Ps This is you know. One of the biggest banks in the world one of the most troubled institutions and involved is either at or near the center of just about every financial scandal under the Sun and then in January twenty fourteen one of the most senior executives at the bank and kind of the right hand man to the CEO at the time was found hanging in his apartment in lended. Who is he his name is? Bill Broke Smith and he was a guy who had worked at the bank on and off for almost twenty years and he had he was an expert in risk management in an expert in derivatives and he but more important he was the guy who turned to as kind of the ethical compass of the bank he was. He was known informally as the conscience of the place. He was someone who could say no. He was pretty conservative and he was not quite as hungry for short-term profits as most of his colleagues were and it's something that happened at the bank immediately precede his suicide and did he leave a suicide note like do. We know that this was tied to his work. Well I mean it's really hard and I think probably dangerous to try to make in light statement about why someone does something like this but he did leave a bunch of suicide notes including one to with his longtime colleague onto Jane who at the time was the CO CEO of the Bank. And so one thing that became clear over the years a report and I did and working to talk to his many friends and family members and former colleagues as I could was that. There's no doubt that at the time of his death. Deutsche Bank was very much on his mind in someone he knew his on his mind in a not in a good way he was very upset about some of the things that had transpired while he was there are before we get into some of the things that that he personally saw during the I guess the Early Twenty First Century you say that as of two thousand fourteen it was well established that Deutsche Bank was kind of troubled scandal-ridden institution I mean. How far does that date back? Well the bank is one hundred fifty years old this year. Happy Birthday Deutsche Bank and for the first several decades of its existence. This is just a pretty provincial. German and European lender helping big industrial companies like Siemens spread their wings internationally. But when the Nazis came to power in Germany in the thirties Deutsche Bank became a central part of their attempt to take over the world and this is not attempt to take the Nazi attempted takeover. Was that different from what other German banking institutions did. At the time Deutsche Bank was by far the biggest German bank. A lot of German companies to survive did what it took to arrive in that area which was helping the Nazis. But there's been an attempt by the bank and some historians I think in recent decades to kind of sanitize that basic fact by saying well. Everyone was doing it and that was just the way the world works and we can look back at this period now and say that Deutsche Bank was party to genocide. Wow most people who don't work in finance and don't report on finance look at these banks. They all kind of seem interchangeable and interchangeably bad. That every one of them or many of them have had one terrible scandal or another or many in recent years is a bank especially at I mean. Is there something about its culture? There are a lot of things that make it a specially bad. I mean first of all wallets true that just about every bank under the Sun has been attached to one or more financial scandals over the years. Don't you think really has been involved in a disproportionate number and it's faced disproportionate penalties. As a result of that you can look at that in terms of the number of criminal charges. The bank has faced around the world or the amount in fines that it's racked up the to me. The better measure of its destructive capacity is the havoc wreaked around the world. And you can really look in. Probably almost every continent of the world in see some major in pretty pretty bad scandal to the bank was involved with the cause real harm whether it's destroying companies or really messing up economies or being involved in major bribery or corruption scandals laundering money violating sanctions. Deutsche Bank is blamed by the families of some American soldiers for their deaths in Iraq because the bank was illegally funding Iranian terrorists. So you can say that about some things but you can't say about every bank that every single scandal comes right back to their doorstep in that unfortunately is the case. Allow the time with deutchebanks one of the things that differentiates Deutsche Bank for many other banks is that there is no villain at the top. They have no. Ceo Unlike many other banks is that part of the problem that there isn't one person who has held accountable. Well it actually used to be that way these days for the past fifteen years or so they have had a CEO. In fact you can trace the banks last series of problems going back to the mid two thousand to the decision to place increasing power in this unitary see It's gotten worse when they've had someone. Yeah although it got worse under Joe Ackerman who is the longtime CEO from two thousand to two thousand twelve. And he was the one who converted the organizational structure of the bank from being this kind of collaborative committee led approach to being one where there's an American style. Ceo At the top of the bank and Ackerman very shortly upon arriving as CEO of the bank made a very fateful decision which was that he decided that within a very short period of time a couple of years deutchebanks prophets needed to go up about five hundred percent and looking backwards. It doesn't seem that surprise and the consequences that followed that at the time. This marked a really transformational change within the bank. And it went from being an institution that looked around and kind of saw itself as serving multiple constituencies whether shareholders or customers employees or the communities. In which an operator and it went from doing that to having a single minded focus and obsession on maximising short-term profits basically consequences. Be Damned and when you talk about the recent crimes of DEUTCHEBANKS and we're not even getting to Donald Trump who is in your subtitle him later. Did most of those things manipulating markets helping terrorists regimes defrauding regulators. Did most of this take place during that two thousand and two to two thousand twelve period when he was the CEO will the got started. Then and that was Ackerman's decision to prioritize short-term profits above all else was the catalyst for all sorts of bad behavior within the bank and it wasn't just the people were rushing to make money at any cost and although they were doing that it was also that the bank at that moment because it was so obsessed with meeting quarterly profit targets. It stopped investing in things that cost money. For example they stop investing in technology. And so the banks internal computer systems became just this. Archaic jumbled mess and that sounds kind of technical and maybe not that important but the reality is immense that Deutsche Bank. If you if you were asked to say Deutsche Bank what how much money have you lent to say Russia? There's no easy way to answer that you can just type it into a computer. None of these computer systems are talking to each other. And that's a pretty scary thing for bank. And they also completely failed to invest in compliance an anti money laundering staff. And because those are things that cost money they're not going to produce revenue and in fact they they do the opposite prison revenue. They take away revenue as their job. If they're doing it properly is to say no to potentially problematic and potentially very lucrative transactions this focus on quarterly profits and profit above all else. Is that very different from what other banks were doing. During this period Deutsche Bank went from

Deutsche Bank CEO Birthday Deutsche Bank Donald Trump Joe Ackerman Nazis David Ensor Co Ceo Dark Towers Lobo New York Times Dave Siemens London Bill Broke Smith Wall Street Journal Bribery
Acapela: Creating Personalized Digital Voices

The Voice Tech Podcast

03:03 min | 1 year ago

Acapela: Creating Personalized Digital Voices

"You could give a general introduction to your company first of all Acapella in general. What would you guys do? Show so get your pin company. European leader thought you voices so I'll positioning to create a specific voices for all brands and people Okay so if a brand for people to distinct markets custom voices for Brandon. Can you give us an example? What kind of custom voices for brands do you Do you create so. We are now working on a new custom boys for Dolan NOPD DEUTCHEBANKS so Dr a train a Burrito in Germany the operate the train or Germany. Okay they run. The train stations is so. We're making accustomed voice for them to broadcast announcements. Like what train is arriving where time etc I say? And what did they WANNA custom voice? What you use off the shelf voice because they want to create a specific identity avoid personal for Deutsche that any passenger and I listen to the message and know that doctrine is giving an information about what's happening to train station interesting. Is that important to these? Are the kinds of things they tell you what. Why do they come to Acapella to have these custom? Voices made yeah because we are very skilled defining what type of voice was in need according to their Brenda according to use the word and so we are casting of voiced around and then creating specifically for this brand and these as a specific voice recording so it comes from a real human. But you don't use a real human to produce all the audio it. What's the benefit of creating a synthetic voice from these humans? Then so benefited I. Same boys everywhere. So it's available in all translations and also it's very efficient and quick to create a new prompter so person away. It's very efficient. I say. Cac once you have the voice voice you like and you have to keep hanging human to come back into the office and more cost efficient. Yes yes got it okay. And what's the general state of the French market? The European market for demand of of this kind of service. How does that compared to America? Because I know that you know selling products into America's around so what was the main differences between the two markets? Would you say I would say? America is more advanced. Talking about technology in the voice personnel definitions. Okay companies beat most children an defining what type of voice personnel they want. But it's definitely coming now. Europen we on this fair. We know a lot of people are asking. Yeah I want to define a voice personnel for my company what advice etc so. Europe is rapidly catching up. Yes correct okay. Very interesting okay. So tell us about the my own voice projects that you're working as well that you referred to earlier about so about helping people losing their voice the voice to record a show sentences and based on these few sentences we create a tick voice over person. I said that when he has lost his voice after surgery. For instance right you can still go on communicating. We've his own voice that he used to have to retain his his or her own identity.

America Germany Dolan Nopd Deutchebanks Brandon Brenda Europe
Fed Eyes Another Interest Rate Cut To Prop Up The Slowing Economy

NPR's Business Story of the Day

04:07 min | 2 years ago

Fed Eyes Another Interest Rate Cut To Prop Up The Slowing Economy

"This message comes from NPR sponsor. Get around with get around your idol car can actually earn you money. Just share it on the APP and Rinse it out when you're not using ED visit dot com slash share now to start sharing get around it's go time the Federal Reserve is expected to try to pump a little more air into the tires of the US economy today. Those tires have been showing some signs of a slow leak and central bankers are hoping to avoid an economic flat. The Fed's widely expected to cut interest rates for only the second time since the great recession but it's not clear. That's the boost. The economy needs right now. Here's NPR's Scott horsely the Fed ed will announce his decision on interest rates this afternoon and economists Kathy boss genetic of Oxford economic says financial markets will be both watching and listening watching for the anticipated it'd quarter point rate cut and also listening for what Fed Chairman drome Powell has to say about it just has to be very clear that we are going to do whatever it takes aches to sustain the expansion POWs been trying to send that message. He told an audience in Switzerland this month. The Fed is not predicting a recession but he acknowledged the economy could stall near the ongoing tariff war rattles enough business people to the point where they stop spending uncertainty around trade policy is causing some companies to hold back now now on investment and so our obligation is to use tools to support the economy and that's what we'll continue to pal and his colleagues also pointed to trade uncertain in deep back in July when they cut interest rates for the first time in more than a decade the stock market wasn't satisfied in part because bowel seemed to suggest the time that might be the last rate cut for awhile boss. Johnson says t's hoping for not only an additional rate cut today but a signal about more cuts in the future it will be clear. It's not one and done and but he has to be careful that it's not too in done. He needs to leave the door open. Clearly to feature Rico's boss genetic is actually predicting two more rate cuts in October and December remember but even with that extra push from the Fed. She thinks economic growth will slow next year to just one point six percent the trade war isn't the only economic speed bump. You've also got slowing growth in other countries. The dwindling affects the two thousand seventeen tax cut and after the weekend attack in Saudi Arabia uncertainty about oil prices nervous about a slowing economy president trump has been browbeating the Fed to cut interest rates more aggressively to zero or even lower others including former New York Fed President Bill Dudley have argued the Central Bank should stand pat and let trump feel the political fallout from the trade war. He started POW. L. Has repeatedly insisted the Fed will not be swayed by political pressure from either side political factors play absolutely no role in our process and my colleagues and I would not tolerate any attempt to include them. The stock market is counting on a rate cut today and would likely suffer a selloff pal and his colleagues don't don't deliver but Matthew Zeti of deutchebanks says it's not clear lower interest rates will do much to help the nation struggling factories we see the driving force of the slowdown certainly in manufacturing trade uncertainty and cutting the Fed funds rate is not going to be able to fully alleviate that uncertainty factories awesome and others have cut back on investment not because it's too expensive to borrow money but because they're not sure they can sell their products in that environment is Eddie says cutting interest rates can only do so much what would help is an end to the trade war and in recent days there have been signs of a possible thaw in U. S. China trade relations still boss Austrian success. She's not convinced a truce is imminent right now. That's all talk you know we have seen that before. We've seen encouraging talk and then both the markets it's and business leaders and consumers. Everyone ends up being disappointed because not only is there no trade truce. It actually ends up being ratcheted higher. The president has already ordered another tariff increase on Chinese imports in mid October if no agreement is reached before that Scott Horsely N._p._R. News

Federal Reserve NPR Drome Powell President Trump Scott Horsely Johnson United States Switzerland Donald Trump Bill Dudley Rico Saudi Arabia Chairman Kathy New York Deutchebanks
"deutchebanks" Discussed on KTLK 1130 AM

KTLK 1130 AM

02:02 min | 2 years ago

"deutchebanks" Discussed on KTLK 1130 AM

"What I've done, and I will continue to do. You don't get to that my child down. And scientists that voice without five hundred more raising up fails apologize before he was sentenced a heatwave is rock in Europe with France suffering. It's hottest temperature on record one hundred thirteen degrees. Temperature soaring through many European countries, which leaders blame on climate warming, an asteroid hurtling through space could make every person on earth. A billionaire. The giant asteroid is made up of massive amounts of gold platinum iron and nickel with value of seven hundred Quin till Ian dollars. It's called psyche sixteen and right now it's between Mars and Jupiter if you divvied up the profits for mining, the heavy precious metals it would result in a psyche smashing payday of a billion dollars for each person on the planet, and it could happen sooner than you think NASA has launching a mission. To probe the asteroid in twenty twenty two Jane Fergus, Fox News. Deutchebanks, Wayne cutting, another fifteen to twenty thousand jobs globally, the latest sign of its retreat from global banking dominance, and the s&p five hundred posts best first-half in twenty two years gaining seventeen percent so far this year on Friday, the s&p rose sixteen points del game seventy three. I'm carbon Robertson. This is Fox News. From the cremation society of Minnesota weather center. Mostly clear to warm, sixty eight to start your Saturday, then sunny and hot for the afternoon, a high in the low nineties heat index near one hundred with an excessive heat. Watch out some storms possible Sunday. I'm meteorologist Mace Michaels on twin cities news talk AM eleven thirty right now it's sixty eight. Your home for bucks news on the radio. Twin cities news talk dot com. The..

Fox News Mace Michaels Jane Fergus NASA Europe Quin Minnesota weather center France Deutchebanks Wayne cutting one hundred thirteen degrees seventeen percent twenty two years billion dollars
Where are musicians making money

The Frame

03:32 min | 2 years ago

Where are musicians making money

"Ninety nine was a peak year for the music industry with sales reaching fourteen point six billion dollars in the US. And then, you know, the story Napster happened I tunes happened and the CD store died twenty years later. The music business is back to, quote one writer it's back like a zombie prime to devour the world on a massive scale because of streaming services, some projection show that music, revenue may soon surpass the benchmark set in the late nineties, here's pitchforks, senior, staff writer, Marc HOGAN, basically, your for years and years as has been widely publicized, the industry was doing really badly. But now has been finally growing again recently, thanks to the expected growth from a streaming. Goldman Sachs says forty one billion dollars annually by twenty thirty. Right. I mean, unless bear in mind that Leeman brothers in nineteen ninety nine also. Had these really rosy upbeat predictions for industry and the industry crashed and then leading others is now gone. So these, these predictions should all be taken with a grain of salt, but people seem to expect the industry to be healthy again. So that's the labels how Spotify doing Spotify. They keep growing. They have more and more users, they're expected to keep growing around the world, the revenues are pretty big, but they generally lose money. So Spotify struggling to turn all of these users into actual profits in your article, you do really great breakdown of where the revenue goes. So break it down for sure. Well, according to deutchebanks report, the earlier this year, for everyone hundred dollars consumer spending on CDs or vinyl of the labels profit is eight dollars for every one hundred dollars spent on down those on, I tunes, that's nine dollars. And for every one hundred dollars spent on streaming the labels profit is. Thirteen dollars. So the share that goes, the labels is actually bigger under your streaming than it was under the old physical formats, is that simply because of logistics cost of production. They don't have to make a thing cutting out the middleman. Yes, exactly, where's the rest of the money, go to well, I think, for musician it varies based on what they're deal is what I found the more people I talked with is just it really depends. And it's it's difficult to come up with a single simple number for what -sition gets now. Let's talk about musicians. How is this boom affecting, you know, the people who are actually, making the music the way, the boom, seems to be musicians is similar to what we're seeing across the economy, really where the upper echelon Hughes doing better and better, and the middle income, and lower income is issues are not doing this. Well, I talked to one you leibel head who said that the middle class for musicians has dried up. That's not really there anymore. What's the average musician making no days? Well, according to one survey, it was around. Around thirty five thousand dollars in two thousand seventeen but only about twenty one thousand three hundred dollars that came from activity related to music. So that's live gigs that streams merge live for the most common source of income. So these are professional musicians, who are not able to make a living doing music. Exactly. Yeah. I mean, that's kind of what we're seeing is getting harder and harder for the vast majority of people who actually make music to make living on the other hand, though. You've had some really interesting conversations with the indie rapper, Jay pick, Maffia what he tell you. Well, he's a very interesting guy all

Spotify Maffia United States Napster Goldman Sachs Marc Hogan Writer Staff Writer Deutchebanks Jay Pick Hughes One Hundred Dollars Twenty One Thousand Three Hund Thirty Five Thousand Dollars Forty One Billion Dollars Six Billion Dollars Thirteen Dollars Eight Dollars Nine Dollars Twenty Years
"deutchebanks" Discussed on KCRW

KCRW

01:56 min | 2 years ago

"deutchebanks" Discussed on KCRW

"His lawyers look, can we find a way to wriggle out of this. And so his lawyers star pouring over the fine print of these financial contracts with Deutsche Bank and one of them comes across a provision in the contract. That's called a force majeure provision, which is in God. So it basically means if there's. Unanticipated act of God, look a natural disaster, for example, that theoretically would allow Trump to void or delay the contract. And it just so happened that a few days before the lawyers started going through these contracts with a fine tooth comb, Greenspan. We want to start with you Alan Greenspan, the former fed chairman of a once in a century credit soon NAMI, and described, the ongoing financial crisis as a credit sue NAMI, and the lawyers look at each other, and they say what is NAMI, if not a natural disaster. The lawyer recounted to me, how Trump ecstatic he was so pleased. And so a few days before the loan is do Trump sues Deutsche Bank, and he declares the financial crisis to be a contract void after God. And then just put a cherry top he accuses deutchebanks of having caused the financial crisis and put another Jerry on top. He then accuses Deutsche Bank of having engaged in predatory lending against him by trying to collect on the loan in demand. Three billion dollars from them in damages. I mean, I'm impressed. I'm impressed. I have to say I'm a little bit impressed. Yeah. To Deutsche Bank then stews, Trump demanding immediate repayment of the forty million dollars that he had personally guaranteed and this litigation drags on for the better part of two years. The daily.

Trump Deutsche Bank Alan Greenspan NAMI Jerry chairman deutchebanks Three billion dollars forty million dollars two years
It's Been an Interesting Year for Deutsche Bank

Trump, Inc.

11:49 min | 2 years ago

It's Been an Interesting Year for Deutsche Bank

"The head of Japan Christian seven did an interview with the Houston business editor at the German newspaper did site. The two were speaking at a reception at the World Economic Forum in Davos, Switzerland. You wanted to become a journalist of all profuse Heusen, the newspaper, man, asking the banker if you were a journalist, how would you report on Deutsche Bank today? So in a nutshell what you, right? The Deutsches CEO is taken aback. He fumbles for a moment. I would say Deutsche Bank is the most significant self-help story, the financial industry. That's how the detailed editor doesn't really want to talk about self help sometimes with Dutch makes the case that just it seems to get better. There is another problem like in, in November when things really looked up and then all of a sudden stated Tony's came in search dodger Bank headquarters under the suspicion that Dutch was involved in in Monday, laundering activities. What was your first thought? In a nutshell. A few months earlier, the German police had raided the bank's Frankfurt headquarters. No. Of course at that point in time. It's it's disappointing not disappointing. You know, personally for me, but being subject to investigations and regulatory actions has become the new normal for Bank in recent years. The Bank has been fine billions of dollars for lax controls on everything from laundering Russian money to violating sanctions against Iran, Libya. And Sudan, somehow you life is tainted by pest how with the constant uncertainty that something is light pop up. You know, I think that makes live really interesting, right? I mean. That's life has become very interesting for deutchebanks. In a recent portfolio congress reveal that has been asking for detailed records of frump family business interactions with Deutsche Bank in the file in congress said straight out, it's investigating the relationship for possible money laundering, illicit financial deals fraud and foreign influence in the two thousand sixteen elections. By its own admission. Deutsche Bank has a history of serious compliance. Deficiencies when it comes to global money laundering in the very recent past. Now comes a new revelation from the New York Times deutchebanks own anti money laundering experts flagged multiple suspicious transactions, they were as recent as twenty sixteen and twenty seventeen and involved Trump's business and the one formerly run by his son in law, Jared Kushner among the transactions one, we're money had moved from Kushner companies to Russian individuals. The times wrote that deutchebanks money laundering experts were so concerned they wanted to report these transactions to the US treasury, but supervisors refused to do so. Carrie McCue, deutchebanks spokeswoman said in a statement alert dispositions by investigators undergo a higher level review by qualified staff. Transaction monitoring castle wide net and not all alerts will result in esscalation. She added we take responsibility for compliance very seriously. And that the Bank has increased our anti financial crime, staff and enhanced its controls in recent years. A spokesperson for the Trump organization emailed, the statement, this story is absolute nonsense. We have no knowledge of any flagged transactions with Deutsche Bank. In fact, we have no operating accounts with Deutsche Bank, we sent questions to the Kushner companies, the White House Trump's private banker and lawyers for the Trump's in Jared Kushner, the White House did not have comment. The others didn't respond. Meanwhile, the investigations pile up those Pena's were sent a multiple financial institutions including Georgia Bank, the house, intelligence and financial services committees are hoping to get information on loans. The German Bank gave a to the Trump and Trump organization and vicious presidential harassment. This is all these people do ever Trump earlier today and FOX and friends calling it harassment is the Trump family and the organization, sue deutchebanks and Capital, One two blocks of Pena's. So we've issued subpoenas into your Bank, and we are collecting a lot of the documents that we had requested. And we are reviewing I can only tell you that the investigation came about as the result of the testimony, Michael going. Hello, and welcome to Trump Inc podcast from WNYC, and propublica that digs deep into the secrets of the Trump family business. I'm Andrea Bernstein today on the show Trump and his family's relationship with Georgia Bank, a Bank with a history of problems. They were laundering money for wealthy Russians and people connected to Putin in the Kremlin in a variety of ways for almost the exact time period that they were doing business with Donald Trump. This is David enrich, the finance editor of the New York Times, and all of that money through DOJ Bank was being channeled through the same exact legal entity in the US that was handling the Donald Trump relationship in the us. And so there are a lot of coincidences here. There's a lot of smoke. I have not found any fire, but unfortunately, I do not possess subpoena power. We're going to walk you through all that smoke. Trump Inc, is an open investigation. So we're just going to say wait now. We're still not sure what this all adds up to. What we do know Trump right now about three hundred and fifty million dollars to your Bank more than he does any other financial institution. And so much is happening regarding the Bank so fast. But we decided to lay out what we've learned by digging into Trump's financial deals with the Bank and why his recent loans, raise so many questions questions raised by congress. The new York Attorney General and the bank's own employees. Let's get to know Deutsche Bank it likes to think of itself as a cousin of other global institutions like J, P Morgan Chase or Citi group, but Deutsches recent history, sets it apart from its competitors after the global financial crisis in two thousand eight Deutsche Bank, like all banks was under financial pressure. At the same time, there was more and more wealth, building in Russia and Russians wanted to get it out of the country. Maybe they earned it illegally. Maybe they were just scared that, if they kept their money in Russia, Vladimir Putin would have it seized banks are supposed to run checks to make sure they're not helping criminals move dirty money, and New York state regulators found deutscher didn't do that between two thousand eleven and two thousand fifteen the Bank improperly and covertly helped usher, ten billion dollars out of Russia and into London and New York and it got caught. We spoke to the woman. Man who did the catching my name is Maria Vullo? And I was the superintendent of financial services from early two thousand sixteen through February one of two thousand nineteen, she oversaw banking, and insurance in New York state, just after Trump was inaugurated Vullo signed a consent order with, which a Bank in it Deutsche acknowledged it had allowed bad actors to achieve improper ends. This consent order addresses the man had serious compliance. Deficiencies that spanned deutchebanks global empire. These flaws allowed a corrupt group of Bank traders offshore entities to improperly and covertly transfer more than ten billion dollars out of Russia by conscripting Deutsche Bank operations in Moscow London and New York to their improper purpose. Deutsche Bank paid over six hundred million dollars in penalties in New York, and in the UK and said it would address its deficiencies. Here's how the corrupts game worked it began in Moscow with an order by a shell company to buy a specific amount of stock, but the buyer, one asked for a particular company stock just the amount. They wanted to spend investigators found some prettiest Pacific emails like this one I have a billion ruble today. Misspelled, by the way ruble. But will you be able to find a security for this size? So then what would happen the same day, which a Bank made up Murchison in Moscow, it would make a sale in London of the same amount of stock the trades. Mirrored each other for that reason, they're called mirror trades, ten billion dollars were moved in this way rubles to pound two dollars, possibly dirty money going in clean money coming out. If you're a Bank, you're supposed to have systems in place to prevent trades like this, because it makes it easy for criminals to wash their money through the. Mancial system. So, yes, there was a supervisor on the Moscow desk, which appeared to have been paid a bribe or some other undisclosed compensation to facilitate the schemes employees complained. They were pushed off. No one did anything even when another bag asked which Bank is something going on here. Deutsche Bank responded, essentially, no, no problems here. Instead, they should have elevated the concerns. Yes, and should have raised a red flag again, and we're looking at issues, like know your customer, looking at who these counterparties are, and who's behind the counterparties, if one was going to actually do the proper KYC process, KYC know your customer, this is key underpinning of the financial system away to keep the money launderers terrorists, and other crooks out, or somebody comes to the Bank, who is this person Deutsche Bank, did not have a central? Is know your customer system and its Moscow office Deutsche Bank, had one person as head of compliance, head of legal and anti money laundering, all at the same time, and you certainly need more than one person who is doing three jobs to actually have an effective compliance system. I mean staffing for compliance is essential. And this was woefully inadequate. New York regulators were not able to track them the actual people behind the ten billion dollars in suspicious transactions. And so a very big question remains. What was the reason behind the because money was exchanged, why we still don't know. There's no evidence, these mirror trade deals, involve Trump were telling you about them because in the words of New York regulators, serious compliance deficiencies at the Bank spanned deutchebanks global empire during the same period. Donald Trump was borrowing hundreds of millions of dollars. And because congress is taking a closer look, according to a legal brief fits investigating. Whether Deutsche Bank is doing enough to stop schemes like mirror trading. The brief says this is important in determining the volume of illicit funds that may have flowed through the Bank and whether any touched the accounts, held there by Mr. Trump his family or business.

Deutsche Bank Bank Donald Trump Trump Inc Georgia Bank Dodger Bank New York German Bank Congress Doj Bank New York Times Jared Kushner Moscow United States Editor Vladimir Putin
"deutchebanks" Discussed on WRIR.org 97.3FM

WRIR.org 97.3FM

12:35 min | 2 years ago

"deutchebanks" Discussed on WRIR.org 97.3FM

"So as of now, deutchebanks, still Donald Trump's largest creditor heels about three hundred million dollars and over the years somewhere north of three to four billion dollars has been going through the Trump empire. Maybe a little bit more these latest transactions. It's hard to know. We don't we don't have the details of what was the cause of the, the episodes. But the fact that it occurred relatively recently two thousand fifteen and sixteen is a signal that Trump didn't change his ways, and then he was still relying. You know, we think heavily on this compliant Bank to two facilitate transactions. Jared Kushner had always had already come to the Bank. My way of a private banker who served both of them, Rosemary for Lasik, who joined to Jamaica two thousand six and they were handling. She was handling private wealth side for both Kushner, and for Donald Trump and sort of managing their, their personal portfolios. But also got pretty deeply involved in making loans to Trump kind of usual. She was actually facilitating in two thousand twelve she facilitated a transaction where the private wealth side, actually ended up lending Trump money to pay back the investment side of the Bank time, which the investment side of the bag of vestment banking side had basically given up on Trump is a productive client. You know, you have the, the wealth side, come in and say, no, no, we want to keep him because he's got all his money with us. So you know there's two congressional committees. Now that have subpoenaed documents from deutchebanks, the Maxine Waters financial services and shifts intelligence committee, in the house, Trump is resisting those documents and his filed oppose as opposed releasing information on, you know, sort of privacy grounds, but we may well get to the bottom of this. If we can get Deutsche Bank to actually have to appear before congress and testify about what their relationship consists of. Well, that would that involve the whistleblower testifying. The one that got fine. Well, that would be possible. It depends on you know, a lot of things. But I think it's conceivable that the, the, the right congressional hearing could produce real fireworks here. I think it's it's not out of out of the realm possibility so far. You know, I I've been disappointed in, in congress ability to kind of get to the bottom of this stuff, and there isn't really a kind of Senator Levin, you know, permanent investigations committee type quality to the investigations that have gone on, you know, eleven were still around. He was a Senator from Michigan. Who retired in two thousand thirteen two thousand fourteen I think if he were around he would have your Bank senior executives up before congress and raking over the coals about this stuff. No question about that. Did the Democrats don't control? The Senate said they could know prone investigations committee has gone into you, deep sleep since he retired. And since they lost control of the Senate. So, you know, that's one of the things were missing investigative panoply here. You know, I think Deutsche Bank is probably the most important financial institution involved with Trump, at least in the US market. We've seen. There's nothing really comparable in among other Bank. So, and they have a deep relationship, historically with. Russia. And with, you know, eastern bloc countries as well. Austria. The recently involved in the dance Bank scandal. They've got a lot of cases where they've been implicated in turning a blind eye at the very least to high level money laundering. So, you know their, their stock has taken a plummeting as he's problems kind of linger on. They tried to have a merger with Commerce Bank recently, which cratered. And so the Bank is really in in, you know, for prominent German Bank. It's really kind of on the ropes here. Well as a conservative also wrote a book recently, everything that Trump touches dies. So thought Eubanks yet another example of that again. I'm speaking with James Henry, and economists lawyer and investor journalists has written extensively about global banking debt. Crises taxation is an economic development to form a chief economist at McKinsey and company. He's the co founder with David Kay Johnson of the new investigative reporting new service, DC report or. And he also blood Bank as you mentioned, the Danske Bank. This is the Danish Bank has branch in Estonia, funneled, two hundred thirty billion dollars of, of money out of Russia and CBS. The sixty minutes ran a piece about it on Sunday. It's extraordinarily. Isn't when you think about Putin's cousin was one of the people involved that it underscores the fact that money wandering is really a kind of national security problem, we have in the EU in particular, they have what's called an anti money laundering regulation. But it it isn't really doesn't establish common policies across the Member States. And, and so you had German officials taking it for granted that Estonia, another member of the EU and Denmark, which surely not be, you know, permitting nefarious practices because they're members of the. Hugh. But in fact, you know, this is a case, where single correspondent Bank that was operating in a Sony was basically able to drive a gigantic truck to food the loopholes involving the money laundering regulations. And so that's just, you know, sort of turns out, that when you look closely money laundering enforcement in Europe. I mean, Germany and. Eastern bloc. Former eastern bloc members or some of the biggest loopholes in the system. And this is just an example, where that, you know, went into play where a lot of money coming out of Russia was being laundered directly through these European correspondent banks. But why do you think it is that the public simply can't get the hit around particularly Trump supporters? Although I don't think they read the nail times, but still the idea that there's recent revelations about his business, and how he's the biggest loser probably in, in American financial history. At least in one year he lost a billion dollars. So why why doesn't that penetrate? I mean, the banks in Wall Street Bank, lack bullying because of this string of bankruptcies involving casinos normally the house wins in a casino. So it's hard to believe that, that, that you could actually bankrupt a casino, then, of course, the plaza hotel Trump airline and all this other stuff, and then according to the Neo. Times Goldman Sachs at one point is Donald Trump is an example for new employees of precisely the kind of prospective client. They should avoid. I think we have a problem with understanding, the folks who are Trump supporters of, you know, basically, they at some level, don't care about his lack of performance as a business guy. They see him as an iconic class to someone who's sticking it to the system. Who's an outsider, you know, who is willing to share a lot of their, you know, sort of questionable values on subjects like immigrants. And women. And, you know, racism, I mean there's a certain level, which they connect with all that. And I think it makes them cloud over when they think about has his actual the details of his actual performance that it's not clear to me that you, you know, as I mean, Trump and set himself, you could shoot someone Madison Avenue and a lot of people wouldn't care. So, you know, this is not unique to the United States. We have a global movement here for, you know, sort of some people call it populism. I think it's a little soft. We have a fairly authoritarian movement going on across borders. And so if you look at someone like Bolsonaro in Brazil, you find a similar history, you know, of not very successful, business guy, who's got all kinds of wild ideas, and it's quite militant in his rhetoric. Benny is a loyal following because he. Viewed as someone who's gonna shake the system, you know, they're resentful of the fact that the Democrats were in power for eight years under Obama, and promise change. And kind of, you know, look the other way the miseration of the middle class in this country. A lot of people who were, you know, looking to the Democrats for leadership on issues like reforming Wall Street cleaning up the banks, having a fair tax system, didn't get that, from the Obama administration. So I think there's a lot of frustration and really kind of legitimates of sort of right after the deletion, but I've been that's the sort of the transnational basis for this movement has got what we have to take into account. It isn't just about clinging to Trump. Right. But the but people the very people, you're talking about who voted for Trump were attracted to his candidates. Because he's one he said, I'm a successful businessman. I'm not a politician, and I'll do for you guys. What I did for in terms of my successful businesses. Well, that's a complete lies and falling businessmen. They one of the world's worst businessman and the second thing, the second thing he emphasizes. I'm so rich. I don't need to raise money like all these other politician. Remember, shamed them all in the in the Republican primary debates. Yeah. You'll take money, and he says some of you take money from me, and I write the checks that really appealed to people, and of course, it turns out that he's not taking care of these people that voted for him. He's taking care of the billion is, you know, it was just a massive fraud, this guy, and the more you look at the people in his administration, or kind of helping himself to, you know, their positions in power. I mean, latest example, I know of is the secretary of transportation who's been, you know, sort of in cabinet meetings recently. Sort of complaining about reforming the Jones act because, you know, it appears her family has a big shipping business. So and she's back to Mitch McConnell. Right, married. Mitch McConnell, the man not without influence in this administration, but she's sort of single handedly held holding up. You know an effort to, you know, reform I think probably reasonable perform to, you know, relax, the constraints that we have on, you know, I'm non US shipping, but doing it for personal reasons, you know, so that's, that's kind of, you know, outrageous, but we've seen that again and again, within the administration's gotta be one win the story is told it'll all these side deals that have been done here. It's going to be, you know, much more than Trump. That's right in implicated, Elaine Chao job at transportation is to oversee the FAA and she totally. Failed with Boeing and that Boeing one America mess. Successful companies is totally trapped because I've got this complete Turkey of a plane. The seven thirty seven max, which is unsafe and accreditation.

Donald Trump Trump Bank Deutsche Bank United States Russia congress deutchebanks Jared Kushner Estonia Danske Bank Commerce Bank dance Bank Mitch McConnell Senate blood Bank German Bank Danish Bank Rosemary
"deutchebanks" Discussed on 77WABC Radio

77WABC Radio

02:19 min | 2 years ago

"deutchebanks" Discussed on 77WABC Radio

"The Trump supporters can look at the time line where he said he wouldn't release his taxes. But then he promised he would. And now, you know, he comes up with a story about an audit. I can't you know. And of course, we heard from you know, that you could. And now, you know, he's fighting tooth and nail. He's keeping the treasury department from complying with the law to release the tax returns fighting g showing each suing deutchebanks, and and well rich you understand why you showing Deutsche Bank because if they release all the materials as to why they made a decision to give a deadbeat alone that no other financial institutions anywhere in the world. Not just in the United States and Wall Street would not give him any credit because he had taken chapter eleven five times. And he was losing money. Handover fish a. Could well lead to demise for him. And for his family. Does want that we, you know, at some point to clear all of these questions up we need to see these tax returns. And we need to see them all report. And I don't understand why anybody out there, whether you support Donald Trump don't support Donald Trump would have a problem with this. We need to see all this stuff. Then. Then if I'm wrong, I am the first one to say, all right. I was wrong. Two in the book, the art of the deal. Did he write all these things of how much money we didn't go got over on us, the taxpayers and the government and just took advantage of loopholes? Not sure no read it when I was in college wasn't wasn't in the deal. But anyway of nex the battle over measles to vaccinate or not vaccinate has moved from our area. Where I started in the Jewish orthodox community. They seem to have gotten a handle on it to the state of Texas where you can't even find often I've shoot down there. It's all the anti vaccine with Robert F Kennedy, jR, on the anti vaccine and Rosalyn Cada wife of Jimmy Cada saying, I not only got another vaccination. I gotta reboot I want everyone to be vaccinated. But first, let's get on news headlines.

Donald Trump Trump Rosalyn Cada Jimmy Cada Robert F Kennedy United States treasury Deutsche Bank Texas deutchebanks
"deutchebanks" Discussed on KGO 810

KGO 810

03:32 min | 2 years ago

"deutchebanks" Discussed on KGO 810

"Let's put that on the table, and that will be what voters goat and see if the impeachment fail so bad, and if it doesn't, and you never know. I mean, anything could happen. Maybe the Republicans will rise up and say, jeez, you know, we can't possibly support this guy anymore. I mean, I think it's easier to imagine hell freezing over. But nonetheless, it, you know, it could happen, theoretically. Yes, I mean, maybe that maybe that will happen. But I, you know, I don't think that I think the Democrats are far too timid on this. You know, Trump is a massively unpopular president. And I don't think you know, overreach is an issue here. I really don't I don't you know, what did he under- reach? That is the issue as far as I can tell I mean. Maybe I'm wrong. But I just I honestly just don't feel that I look around and I just go. I don't see I don't see the risk. And I do see a much greater risk in at the end of the day. When all this is said and done of having a presidency and a government system. That's been absolutely wrecked by this man and no going back because nobody tried to stop him. I mean, even if he loses if they don't push this and look at everything that he's done and ensure that the people know what happened, and that, you know, we take steps to make sure never happens again. You know, I bet that could be a greater risk, then then anything, and and I I mean, I think I can't imagine why people see so K not to mention the fact that the Democrats ended up looking like they're playing politics by O J, maybe machine go after Trump because it might hurt us in the election. Why anybody would say that in public? I can't even even if they think they should keep it to themselves. Why you would want that to be your heritage? That's that's how it goes. Let me get sleep on the the Democrats have won a victory in court. I'm taking this from the Washington Post Democrats in congress can move ahead with their lawsuit against president. I saw them. Yeah. On the emoluments clause any thoughts on that. Oh, yeah. I mean, I think this is very very interesting development. I mean, look there, and that's not the only thing. I mean, if you're gonna have litigation now around the debate, you know, Trump is sued deutchebanks for cooperating with a congressional subpoena. You've got a a number of cases coming up through the court center going directly to Trump's corruption. And I really think that this is important. I think it's tremendously important that people take a look at this and it plays. You know? I mean just between you and may in your audience. I think that it plays to the democratic strength. On their own economic message. I mean, this is if you've got to look at this guy, and what he represents the, you know, the one percent, and the the fraudulent sort of behaviors that he's engaged in over all these years and within the White House doing the same thing. I mean, he is not, you know, Trump, maybe the crudest example of that. But he's not alone. I mean, this is this is something that know goes to the very heart of the democratic critique of our economic system and the and the inequality that we see and Trump is a perfect representation of that. So on a political level. I think it's extremely important for them to look at this. And then I'm against the clock. You are absolutely fabulous. I can't wait to talk to begin. Thank you. My pleasure, Angie. So thanks for having me. All right. Absolutely. Heather Digby part in you can find her work at the blog called hullaballoo, and she's a regular columnist for salon dot com as well back for more than just a moment on the chip Franklin show.

Trump president Angie Washington Heather Digby congress White House Franklin deutchebanks one percent
"deutchebanks" Discussed on NewsRadio KFBK

NewsRadio KFBK

01:31 min | 2 years ago

"deutchebanks" Discussed on NewsRadio KFBK

"News. President Trump three of his children and seven of his companies have filed a federal lawsuit against deutchebanks and Capital One financial corporation to block the banks from complying with federal subpoenas investigating his financial dealings the federal lawsuit. Contends that demands for records by democrat controlled house committees have no legitimate or lawful purpose. And that the subpoenas were issued to harass the president, Maxine Waters, chairwoman of the financial services committee and Adam Schiff, chairman of the intelligence committee called the lawsuit. Meritless in a joint statement, the FBI says it got tips about a social media post threatening violence. Against Jews just minutes before a gunman killed a worshiper and wounded three others at a southern California synagogue, the tips to an FBI website in hotline included a link to the anonymous post, but did not offer specific information about its author or the location of the threat, the bureau said employees immediately tried to determine who wrote it but the shooting occurred before they could establish his identity nineteen year old John Ernest who's been charged with murder and attempted murder in Saturday's attack is expected in court today. President Trump is proposing charging asylum seekers of fee to process their applications as he continues to try to crack down on the surge of Central American migrants. Trying to cross into the US the president directed the attorney general and acting homeland security secretary to take measures to overhaul the asylum system, Matthew Albans, acting deputy director vice told FOX changes need to be made. This was not limited to the border. So people think.

president President Trump FBI Maxine Waters Adam Schiff acting deputy director Capital One murder California synagogue deutchebanks chairman Matthew Albans US John Ernest FOX secretary attorney
"deutchebanks" Discussed on 106.1 FM WTKK

106.1 FM WTKK

01:48 min | 2 years ago

"deutchebanks" Discussed on 106.1 FM WTKK

"After the hour on this morning. Jennifer Kushinka is here with more of America's First News for President Trump three of his children and seven of his companies have filed a federal lawsuit against deutchebanks and Capital One financial corporation to block the banks from complying with federal subpoenas investigating his financial dealings the federal lawsuit. Contends that demands for records by democrat controlled house committees have no legitimate or lawful purpose. And that the subpoenas were issued to harass the president Maxine Waters, the chairwoman of the financial services committee and Adam Schiff, chairman of the intelligence committee called the lawsuit. Meritless in a joint statement, the FBI says it got tips about a social media post threatening violence. Against Jews just minutes before a gunman killed a worshiper and wounded three others at a southern California synagogue, the tips to an FBI website and hotline included a link to the anonymous post, but did not offer specific information about its author or the location of the threat, the bureau said employees immediately tried to determine who wrote it but the shooting occurred before they could establish his identity nineteen year old John Ernest who's been charged with murder and attempted murder in Saturday's attack is expected in court today. President Trump is proposing charging asylum seekers of fee to process their applications as he continues to try to crack down on the surge of Central American migrants. Trying to cross into the US the president directed the attorney general and acting homeland security secretary to take measures to overhaul the asylum system, Matthew Albans, acting deputy director of ice told FOX changes need to be made. This was not limited to the borders. People think this is just a border security issue. It's not because these individuals are not staying at the border. They may be there for a day or. To while. They're waiting for transit, but they're coming to every community in this country. Camp says the asylum system is in crisis and plagued by rampant.

president President Trump FBI Maxine Waters Jennifer Kushinka Adam Schiff acting deputy director Capital One murder California synagogue America US deutchebanks Matthew Albans chairman Camp John Ernest
Deutsche Bank-Commerzbank merger talks collapse

WSJ What's News

00:29 sec | 2 years ago

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.

Commerzbank Deutchebanks
"deutchebanks" Discussed on Biz Talk Radio

Biz Talk Radio

04:49 min | 2 years ago

"deutchebanks" Discussed on Biz Talk Radio

"Direction right now. You know, what an issue big problem? They're having. I mean, obviously oil is impacting them a lot worse than it's impacting us. So they have this oil crisis going on right now. Major problem with the oils are climbing dramatically all the major oil companies and then to top it off banks or tanking. So banks are getting worse. And it looks like there was a there was a deal trying to be made with Commerce Bank in Germany, and that doesn't look like it's going to going to happen. It's facing an awful lot of resistance from Deutsche Bank's supervisory board. Well, look, I I've been saying that this whole merger between those two got sick banks merging thinking that. Somehow if the if the two sick banks get together that they're going to get. Well, I. You know, instead of being more costly and Justice sick if not more sick because they're going to still be debilitated. So where one Bank is sick. The other Bank might not be sick. And now they're going to bring that to both banks. The problem is this is the number one Bank and the number two bang. So these are the two largest banks in the euro zone. So they're going to come together. They're going to have a Bank so large. There's no way on God's green earth. They're ever going to be allowed to fail. Germany or the European Union's going to continue to bail it out if they need to of course, they understand that. No that but worse yet, you could risk situation where deutchebanks then becomes under the guidance and control of the government and becomes a state run Bank. And that would be a huge problem. Now. One of the things that is. Going to be the unintended consequence of all this. But they're not able they're politicians for the most part. They're not able to think through unintended consequence. But one of the things that is likely to happen is there are going to be some of the more independent wealthier euro nations are going to do what Great Britain's should have already done by now, but as trying to do in that is exit out of the euro-zone altogether. Now, it's easier for Great Britain to do it. Then a lot of others because they never bought into the currency. They've always maintained the pound sterling as the currency. So they didn't get rid of it like some of the other nations. But there are some other nations that have an either particularly in the northern more sovereignly stronger nations that are going to say if this were to happen with the Bank and the state were to get involved with the Bank, which will eventually or maybe they're going to be smarter. Enough to say venture -ly this is going to be a state run institution. And when they're in trouble, am I in Switzerland gonna participate in bailing out a German Bank because they didn't see the problems and didn't do anything about them and merged more problems with those problems to make create this mess. And now, this is going to impact our people and our economy, I understand they don't care about their people. They care about the the the globalist mentality is they care about all the people in the euro zone. Except now there are some European nations that are building walls to prevent the open border. So it's going to really open up a can of worms. But yet apparently they're trying to go through with it. And now doors your Bank supervisory board saying they're against the merger with commerce you Bank. And and and as increased this this. You know, this apprehension has increased over the last few days. So we'll see what happens with that. That'll be interesting. There was also a credit union like Bank. There was trying to merge they were trying to merge with that. Didn't that didn't happen. So we'll see we'll watch that. And we'll see what happens with it. But it is a little bit scary. Eight four four seven or seven fifty five thirty three eight four four seven zero seven fifty five thirty three let me just look here. I don't think we've gotten any of the housing the new home sales. We did not get they did not come out yet. Let me just look here today is Tuesday yet, ten o'clock new home sales. So we haven't seen that come out. Be interesting. Maybe we'll be able to tell by which way, the market is going because if it's bad we'll probably know it.

German Bank Deutsche Bank Commerce Bank Bank Germany Britain European Union deutchebanks Switzerland euro-zone
"deutchebanks" Discussed on KDWN 720AM

KDWN 720AM

01:30 min | 2 years ago

"deutchebanks" Discussed on KDWN 720AM

"Of the property investment firm, working with Deutsche Bank and PJ t- partners to solicit interest from potential buyers for the resort could fetch four billion dollars or more Blackstone acquired the hotel for one point seven three billion in two thousand fourteen from deutchebanks bid gained ownership through a crisis related loan default in two thousand eight federal immigration officials say the number of arrests they've made this year as dropped about fourteen percent from last year due to the surge of immigrants at the southern border because ISIS, immigration and customs enforcement is devoting where resources to the humanitarian crisis at the southern border. The agency says it has fewer people working on arrests and deportations in the past six months removals of immigrants drug ten percent compared to the same time last year and arrest. Were down fourteen percent acting ice director Matthew all bents visiting the border city of macallan Texas says ISIS had to reassign hundreds of staffers to help deal with thousands of families arriving at the border each week, Manny seeking asylum. Jackie quinn. Washington. North Korea's foreign ministry is demanding that Washington remove US secretary of state Mike Pompeo from nuclear negotiations. The north is accusing Pompeo of playing down the significance of Kim Jong Hoon saying last week that Washington has until the end of the year offer mutually acceptable terms for an agreement to salvage the high stakes nuclear diplomacy on Thursday, North Korea test fired a new type of tactical guided weapon on Wall Street. The Dow starts today twenty six thousand four forty nine.

ISIS Mike Pompeo Washington North Korea Kim Jong Hoon Deutsche Bank Jackie quinn Blackstone deutchebanks Manny director Matthew fourteen percent four billion dollars ten percent six months
"deutchebanks" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:41 min | 2 years ago

"deutchebanks" Discussed on Bloomberg Radio New York

"And I'm Susanna Palmer from Bloomberg world headquarters. The White House says the Trump administration and China delegation led by Chinese vice-premier. Lou heck had productive meetings and made progress on numerous key issues in trade negotiations this week in Washington and White House also says significant work remains and the principals deputy ministers and delegation members will be in continuous contact to resolve outstanding issues two weeks ago, Google established and external panel of experts to review thorny ethical issues related to artificial intelligence it quickly imploded after a staff revolt of the panel's members the company disbanded the panel on Thursday afternoon, its members never even got a chance to meet Switzerland is proposing bigger capital cushions for the country's top banks. This government said in a statement the finance ministry is weighing in amendment two rules to try to win. Sure that the parent companies of systematically important banks that too big deal banks are sufficiently well capitalized in the event of a crisis. Wall Street is already watching the twenty twenty presidential race. Bloomberg's Nathan Hager has a look at what investors are expecting most equity investors in an RV survey. Thank President Trump will be reelected next year. But if a democrat wins more than two thirds think Joe Biden would be friendliest to the stock market are says it could way on the market. If Biden doesn't declare his running or someone else wins the nomination. Fifty one percent of investors. Think Elizabeth Warren would be least stock friendly. Followed by Bernie Sanders at thirty eight percent. Nathan Hager, Bloomberg radio. Deutchebanks moving to reassure US. Investors and customers the German.

Nathan Hager Joe Biden White House Bloomberg world Bloomberg Elizabeth Warren President Trump Susanna Palmer Trump administration US Lou heck Bernie Sanders China Google Washington Switzerland Deutchebanks
"deutchebanks" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:04 min | 2 years ago

"deutchebanks" Discussed on Bloomberg Radio New York

"We're seeing a global selloff in equities with concerns around global growth surfacing and equities are falling along with global yields. We've seen weakness in the Asian session after losses on Friday and the S and P five hundred with banks particularly taking a hit US futures on the back foot as well s and p five hundred Emmys down four tenths of a percent. Nasdaq futures lower by six tenths of a percent, take you look at the ten year treasury yield. It's actually steadying up in today's session after dropping to the lowest since January twenty eighteen to forty five hundred is where we are there. But of course, what's caused a wave of concern. Three markets is the inversion of the three month. Tenure yield. For the first time since two thousand and seven the San Francisco fed likes it as a recession indicator, and it has predicted a number of previous recessions Muhammed Al Arian, though says be careful before reading too much into that. He'll curve inversion the ten year bond yield on Friday drop below zero for the first time since two thousand sixteen it steady today, but we're still just about negative territory but yields edging higher. Elsewhere the ten year French shield upper basis point the ten year. Gilt yield moves higher by two basis. Points are the gilt market opening up right about now. We're seeing the tenure. Edge higher by four basis points as well when we saw the ten year bundle drop on Friday. It took the euro down with it. We saw the euro at drop by six tenths of a percent. We studied today on a one thirteen handle in FX markets were also keeping an eye on cable questions over whether Theresa May could be ousted and questions over whether she'll be able to bring that meaningful vote back to parliament for the third time. We're steady on cable now after some weakness earlier one thirty one ninety eight just to round out the risk picture here. You're seeing WTI and Brent on the back foot for at least the second day WTI down six tenths of a percent. Fifty eight seventy one Brent at sixty six spot seventy five so those your markets. Let's get back to the European equity markets, by the way in terms of industry groups, you'll see most of them in the red with personal and household goods and commodity producers and tech leading to the downside. Let's get in to the individual stocks to watch. Now Simon status in the studio with me great to have you here this morning. Sam's you kicking it off with imam gives us the story. Yes, we. Escape last week, which is a British satellite company. They were likely see a couple of equity companies apex, led by apex. But with Warburg Pincus in that as well that happened this morning. Interesting last week when this big came in the shares did no GOP up all the way to the offer price. See my those a little bit of tennis about whether this was actually gonna happen. It has happened with waiting for an opening price. But the likelihood is the woke up closer to the for pressure by eight percent this morning. Let's talk about saga that of course, has been ongoing for years, and it's that of Deutsche Bank and Commerzbank. What are we learning today? Is there any impact on the share prices Safar? It looks like there's not too much impact on the share price likely. The banks are going to be taken up by the general mood rather than individual news today, we have the unions don't seem to be too happy about the deal. I think when I came in here a little while ago that we said that this very possible that the unions will not be thrilled with the idea of potentially very large Joe cuts. She says no huge surprise there. But just generally keep watching for the for these to come on the the other big debate is about the investment Bank. And what what would the future deutchebanks investment Bank be if it were combined with commerce by I don't know. They don't you back right now. But it's something to keep watching as the week from banking asset management. Let's talk about some of the emanate speculation bubbling in that industry. Yes. It was we had a little bit of this last week as well alliens repair me looking at DWI, which was spun off from from the aforementioned Deutsche Bank. We now also hearing that which is looking at selling its insurance business has had Generale and indeed Alleanza Nassau's. We're seeing some interesting moves in both asset management and also the insurance sector for a little bit of MNA. So what's driving that hard to say at the moment? But if we do start to get away, I think we're gonna see a lot more talk. Thanks so much for joining us in the studio, Bloomberg stocks editor Sam unstirred with the stocks to watch tons of some of the biggest movers. Let me just name some of them for you to the upside you're seeing dominate Campari Milano at she is the best performer on the stock. Six hundred this morning up. Seventy four percent rising the most in more than six years at the moment. Not clear exactly what might be driving that. We did get an upgrade. Trade to buy from Goldman with a price. Target of ten-year-old. Perhaps that's feeding into the upside momentum in the stock on the downside. You looking at the worst performer in today's session so far as why a card so that is the worst performing stock right now. Well, let me just see if I can get you an opening price on the Dax as well it takes some time to get underway. The Footsie-100 is lower by five tenths of a percent. The CAC forty lower by six tenths of a percent. The Dax is also lower by a quarter of a percentage point. All right. Let's talk about bonds. Now as mentioned the bond market, some say is warning of a possible recession with the yield on ten year treasuries below the three month rate for the first time since two thousand and seven concerns over growth and the pivot away from monitoring formalization among central banks seem to be driving the move. But JP Morgan chairman Jacob Frenkel says a recession is not on the.

Deutsche Bank Sam unstirred Brent US Warburg Pincus GOP deutchebanks investment Bank WTI San Francisco Muhammed Al Arian JP Morgan Jacob Frenkel Theresa Campari Milano tennis Simon
Deutsche Bank set to announce merger talks with Commerzbank: source

Bloomberg Businessweek

00:53 sec | 2 years ago

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

Deutsche Bank And Commerce Ban Deutsche Bank Amazon Deutchebanks Dwa Group Commerzbank Arlington Virginia German Government Bloomberg Aaliyah Twenty Three Million Dollar Nine Percent Twelve Years
"deutchebanks" Discussed on WRIR.org 97.3FM

WRIR.org 97.3FM

04:59 min | 2 years ago

"deutchebanks" Discussed on WRIR.org 97.3FM

"The sun will very senior Putin connected oligarch, a number of people went over to this Russian Bank and help them get their business started. And and then around two thousand ten two thousand eleven Deutsche Bank. Did we lose you? I think we lost our connection here. Could you quickly? Call back. When you say all went through deutchebanks, both in Europe and the United States, and this is an billions of dollars when went through deutchebanks pipes, and this happened to Ben around the same time that don't you Bank lending to Donald Trump was picking up steam, and that's a that may well be coincidence. It's we the evidence of those things being connected is at best circumstantial, there's not any proof. At least that I've seen that. They're that Deutsche Bank was serving as a vehicle for Russian hash to get the Donald Trump. There's tons of evidence Deutsche Bank with serving vehicle for illicit Russian cash flows. But we have not been able to connect that to Donald Trump. And I know that that is one of the many things that a couple of congressional committees are starting to investigate and look I I consider myself to be a pretty good journalists. Unfortunately, I do not have subpoena power. And so. Headed puts limits on the amount of information. I can get out of the Bank or anyone else. These congressional committees. Now that the Democrats are cheering them and have subpoena. Power earn a much better position to answer. Some of those questions. We'll just in the last couple of minutes, the story of Bill Brooks, mid American executive who regarded as the conscience of Deutsche Bank who in twenty fourteen was found hanging in his London apartment, and and his son apparently went on a quest to understand why he's father or if his father killed himself. That's sort of turns this story somewhat into a movie, doesn't it? I mean, I hope so. I really hope that the guy's Bill brotzman as you said was one of the most senior people at the Bank. He was found dead in early two thousand fourteen and very shortly after he died with a few days, I was in London at the time, and I got in touch with his son Val and over the next five years, we built this very strong relationship. And I followed along as Val went on international quest. I figure out what had happened to his dad and why and as part of that Val obtained many hundreds if not thousands of his father's emails and electric documents related to Deutsche Bank. And so that is provided quite a bit of clues about the true nature of this Bank. And some of the problems that were going on inside of it. And it's the type of problems that led to this extraordinary relationship with Donald Trump. And any resolution there? I mean, this is a lot of people have turned on Ted. You got to wait for the book on that? But it's gonna say a lotta people attend up dead in the UK at the hands of Russian assassins. Yeah. No. There's no indication that Russian assassins were involved in it. I think he by all accounts he committed suicide. The question is why is and readers in my book will be able to get that answer. So how can readers of potential readers of your book get in touch with you to urge you to get this book finished because enquiring minds want to know about Deutsche Bank and its relationship to Donald Trump. The easiest thing to do is go to my Twitter page, which is at David enrich. And you'll find a link where you can preorder the book and read a little more about it, Muslim Facebook and Linda as well. And so people can their links there. The follow a preorder read more about it. Well, thank you for joining us. David enrich. My pleasure. And again, I may speak with David enriches a finance editor at the New York Times. He previously was the financial editor prize editor of the Wall Street Journal heading a team investigative reporters. And before that was the journal's European banking editor based in London as well as a reporter in New York is the author of the spider network, how mess genius. And again escaping bankers pulled off one of the greatest games in history. And he's forthcoming book on deutchebanks is coming out in early twenty twenty we're gonna take a pre station break, and we'll be back looking into what democratic candidates running for president can do to neutralize the orchestrated Republican tax. On progressive candidates labeled a socialists with.

Deutsche Bank Donald Trump editor Russian Bank London Bill brotzman Val Ted Putin Wall Street Journal Europe Bill Brooks New York Times Twitter Facebook United States UK president New York
"deutchebanks" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

08:24 min | 2 years ago

"deutchebanks" Discussed on WNYC 93.9 FM

"That Mr. Trump inflated his total assets when it served his purposes such is trying to be listed amongst the wealthiest people in Forbes and deflated his assets to reduce is real estate taxes. And in his opening remarks. Michael Cohen, literally brought the receipts copies of financial statements from twenty eleven twenty twelve and twenty thirteen that he gave to such institutions such as Deutsche Bank. The documents are summary of Trump's net worth categorizing assets, including cash and properties and liabilities in two thousand thirteen those documents show Trump's net worth nearly doubling thanks to a new four billion dollar line item attributed to something known as brand value. This information provided us inflate the president's asset. I believe these numbers are inflated under questioning you just heard from Representative lacy clay of Missouri. Michael Cohen said Donald Trump lied about how much money he had when it suited his interests president ever provide inflated assets to a Bank in order to help him obtain alone. These documents and others were provided to. Deutsche Bank on one occasion, where I was with them our attempt to obtain money so that we can debate on the Buffalo Bills. But this is not the first time deutchebanks involvement in lending to Donald Trump has come to the attention of congress. In fact, last month, the house intelligence and financial services committees launched an investigation into the president's dealings with the German financial giant. So what is the house looking for? And what does Michael Collins testimony reveal about deutchebanks relationship with President Trump? That's where we begin today. This is the takeaway, I'm tansy Nevada, and I'm joined now by two journalists who've been covering Deutsche Bank and its relationship with President Trump closely Jenny Strasbourg is a senior correspondent for European finance at the Wall Street Journal, welcome to the takeaway, Jenny. Thank you, very much and David enrich is finance editor at the New York Times. And he's writing a book on deutchebanks and Trump perfect timing. David welcome to the takeaway. Thank you, Jenny. Let's start with you for those of us here who are less familiar with Deutsche Bank and give us who are they and what is their presence in the United States? Sure. So they've been around for since the late eighteen hundreds started as a German Bank to serve German corporates. And really they came onto the scene in the United States with their deal in nineteen ninety eight to by Bankers Trust, which put them on the Wall Street radar and with and with that grew their aspirations to take. On the likes of Goldman Sachs and Bank of America and the big investment banks. And then that became the source of many a regulatory issue for the Bank, particularly during and since the financial crisis. And it's no exaggeration to say that they're they're future has become a huge question, Mark. But the Trump topic has is front and center there, obviously. Yeah. Absolutely. I mean, this David let's talk a little bit about that. You're literally writing the book on this. How far back does President Trump's relationship with Deutsche Bank? Oh, it goes back. It really starts in earnest in the late ninety s around the time as Jenny said that deutchebanks developed these really strong aspirations to be a proper US investment Bank compete with Wall Street and Deutsche Bank, reviewed Donald Trump as the perfect type of person to do business with because he was a guy who had defaulted on. His debts to other banks and therefore other banks weren't willing to take the risk of doing business with him Deutsche Bank needed a foothold in the United States. And so it needed to do business with people and with institutions that other banks were not willing to touch with a ten foot pole Donald Trump fit perfectly and off to the races. They went David do. We have any sense of how much money Trump has borrowed so far from Deutsche Bank, and whether any of that is still outstanding. And Trump over the years over the twenty years between one thousand nine hundred eighty eight and now borrowed well over two billion dollars. That's billion with a b billion with a beauty huge number, especially given what we know about the limited amount. We know about Trump's net worth which is he says, he's a billionaire that's far from clear that is actually true. So the fact that he's borrowed over fifteen or twenty years billions of dollars from Deutsche Bank is extraordinary currently allowed that's been repaid or in some cases defaulted on by Trump. So it's not still outstanding. As of the time he entered the White House, though, he still owed more than three hundred million dollars to make. It was his biggest creditor, and that's really really extraordinary thing to think about the president of the United States is deeply deeply in debt to a foreign institution, Jenny. I wanna bring you back in here because we're talking about Deutsche Bank today mostly because of Michael Collins testimony yesterday yesterday, he supplied records, outlining President Trump's efforts to secure a loan from Deutsche Bank from twenty eleven to two thousand thirteen Michael Cohen said that this loan was part of a failed effort to buy the Buffalo Bills are to buy a share in the bills. Ginny would Deutsche Bank have known that President Trump's statements had been inflated as Michael Collins suggested in his testimony yesterday. Well, I mean, it was certainly dramatic and exciting to hear from an in a longtime insider, we covered a secret deposition in the lawsuit in two thousand seven that where Trump admit acknowledged, the he was no stranger to inflating his property values. Said and I'll quote from our article, I think everybody does who wouldn't now this is a private deposition, and he said even verbally he inflates, the value of properties in general, not beyond reason. So this is not the first time. This topic has come up and this also came up quite a bit in the testimony with Cohen yesterday. The House Financial Services committee is potentially going to investigate this. Now that there's a democratic majority your thoughts. David, well, I think the holy grail here for investigators in congress in for many of us in the media is the Russia connection and as Jenny said Deutsche Bank has gotten a lot of trouble for money laundering for Russians. What investigators journalists like me and Jenny wants to know is is Deutsche Bank, the nexus between Donald Trump and Russia did money from Russia. Go to go to Donald Trump by way of Deutsche Bank. We don't know the answer to that yet. Journalists have been trying for years to figure that out, but we do not have subpoena power House Democrats now do and so I think we're going to get some. Answers. So David we just mentioned the potential for a house investigation. I'm wondering if you can tell us what threads you think they will follow. I think the big thread is whether Deutsche Bank has been a channel for money to elicit come to Donald Trump over the years from Russia. And the reason this is interesting is that Deutsche Bank for many years was a pioneer of lending in Russia and of building relationships with large Putin connected, Kremlin, connected, banks. And so the rumor that is circulated for a couple of years. Now is that part of the reason to the Bank was willing to take such risks and lend to Donald Trump, and no one else would is that someone in Russia or something in Russia was providing them some sort of protection against the risk of Trump default in and that's unproven. It's unconfirmed. God knows I've been trying and I know Jenny has been too, and we just don't know if it's true. But there's a lot of the questions that people like, Maxine. Waters who's the chairman of the House Financial Services committee and Adam Schiff, who's the chairman of house intelligence have been asking mega quite clear that this is exactly what they're going for. And or at least one of the things that they're gunning for and I don't know what they're going to find. But they have a much better chance of finding that out with subpoena power. And with some of the really serious investigators have they've brought on recently than mere mortals lake me, David enriches finance editor at the New York Times working on a book about deutchebanks and Trump and Jenny Strasbourg is senior correspondent for European finance for the Wall Street Journal. Thanks to you both. Thank you so much, and we should add we reached out to Deutsche Bank for comment on its lending to.

President Trump Deutsche Bank Trump Jenny Strasbourg David president United States Michael Cohen German Bank deutchebanks Wall Street Journal House Financial Services Buffalo Bills Russia Michael Collins Bank of America New York Times White House
"deutchebanks" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:14 min | 3 years ago

"deutchebanks" Discussed on Bloomberg Radio New York

"Sources say the spring and private equity giant Apollo on border provides premier with additional financial firepower right now premiers up one and a half percent, Chevron is up one tenth of one percent. That's a Bloomberg business flash. I'm Greg Jarrett. You're listening to Bloomberg markets with Lisa Abramowicz in pulse. Weenie on Bloomberg radio. Deutchebanks was one of the only major banks that would continue to lend to the Trump organization after a series of bankruptcies, which created a sort of conundrum for the German lender. When President Trump won the US election. Joining us here to talk a little bit about the deliberations inside of Deutsche Bank at the time and the implications today Shahir syrup poor he is a reporter for Bloomberg news joining us here in our Bloomberg interactive brokers studios, so Shaheen can you lay out just what was happening in two thousand sixteen and how Deutsche Bank was discussing it. Sure. So in the aftermath of twenty sixteen election Deutsche Bank, discover that it had, you know, what would appear to be a problem on its hands where it had lent a considerable amount of money to the incoming president in his company, and those loans we're going to be or start coming to during a hypothetical second term, and they had to confront the risk of. Well, what happens if he defaults the company defaults, and we have to go after. After assets. What what does that what kind of situations that create for us, so internally add your Bank at the highest level, Bank executives discussed this possible hypothetical risk and as part of their deliberations, they discussed extending the repayment term for his loans. So they wouldn't mature until after hypothetical second term now the Bank ultimately decided against this. They didn't change the terms of his loans, and instead they decided they won't do anymore business with them. So the current status of the business between Deutsche Bank, President Trump in his companies as I understand it. It's not the corporate investment Bank making the loans, that's the private wealth management that. That's right. That's right. So the investment Bank had been doing business with the president or with Mr. Trump and his company. Deck more than decade ago. They headline actually considerable amount of money to Mr. Trump to construct this tower in Chicago now issue is he defaulted on the loan. There were dueling lawsuits. Trump's lawsuit against deutscher accused them of basically having having started the global financial crisis back in two thousand eight or being part of the banks that brought that brought that into existence and so the investment Bank decided we're not going to do any more business with this guy, but the private Bank in the wealth management decided they wanted keep his business, and they started extending credit, so Eric Trump, which is who is one of the sons of President Trump said this story is complete nonsense. We are one of the most under leveraged real estate companies in the country. Speaking, of course of the Trump administration. How does this factor into the Trump organization today as well as deutchebanks sort of a perilous relationship with the president? Already is an existence with respect to these loans. That are outstanding. Let me for the Trump organization. Eric is right in that. They don't have a ton of leverage that we can see the loans that they take out against their properties when weighed against the value of the properties, and a lot of cases, it's pretty small, you know, they'll have a building valued at like, let's say ex and the loan will be for like a tenth of X, which is not typical when it comes to commercial real estate developers, and they own a lot of their properties free and clear. Now, the issue is they have a tremendous tremendous amount of debt owed to deutscher as well as ladder capital in Deutsche that relationship has one thing that Democrats in congress really want to spend the next two years going over with a fine tooth comb because they've spent the last two years in the minority. They haven't been able to dig into this relationship, and they think there's something there. And that's what they're gonna do. What what do they think is there there is this, you know, no one will say this explicitly? But if you read between the lines they? These are two separate threads that they're chasing on one hand. They think of Deutsche Bank as a Bank that has gone to problems when it comes to money laundering controls. It's so that's that's one thing. The second thing is Deutsche Bank has a lot of business in Russia. The third thing is Deutsche Bank has done a lot of business with President Trump. Now are those three things connected in some way. That's kind of the overarching question that they want to answer. Okay. So that's why we're going to be getting a lot of news about Deutsche Bank and President Trump from here on out right because this is scrutinizing this and probably tripling it out to get a sense of some kind of illicit relationship. But as far as what we know now, there is no evidence to that effect crabs. No evidence whatsoever. Okay. And to not public at least not public evidence. And Eric Trump's point it is not an over leveraged company at this point. That's facing bankruptcy or anything like that. No. I mean when you look at Trump organization loans that have been securitising to C N B S, they're making their payments on time. There's no delinquency of any kind and the amounts of they borrowed are very low relative to the value those buildings. If don't your Bank is not doing new business with the Trump organization who is that is equally question. We don't have that ex-. That's next on early answer. That's the next story. Okay. Because I've the real estate business a business that obviously needs big chunks of capital. But I'm guessing there's also revolving credits at the need to maintain properties do upgrades and things like that. And that typically means external financing somewhere. That's right and a lot of these loans. I mean, some of their loans are interesting with balloon payments at maturity, and the there Pat, the company's past practice has been to refi those loans when it's nearing maturity. So for a lot of these loans from ladder from deutscher. They come do the hypothetical. Second-term question is what happens so they pay off those balances or they seek financing from other lenders, and what kind of risks does that entail. Both lenders for the company for the White House. Yup. Excellent shaheen. Thanks very much Shaheen poor Bloomberg reporter for Bloomberg news in our Bloomberg eleven three go studios. Thank you so much for this. I'm sure there'll be more reporting on this to come up. We look forward to that. Now, let's head toward ninety nine one studios in Washington DC.

President Trump Deutsche Bank Bloomberg Trump president Bank Bloomberg interactive brokers Shaheen deutscher reporter Greg Jarrett Deutchebanks US Chevron Lisa Abramowicz
Deutsche Bank, China And Germany discussed on Masters in Business

Masters in Business

00:16 sec | 3 years ago

Deutsche Bank, China And Germany discussed on Masters in Business

"In October. Deutchebanks top investor. China's h an group continued to cut its stake in Deutsche Bank people briefed on the matter have said h NA plans to dispose of its entire stake in Germany's largest lender. Chinese group weighed down by debt once held almost ten percent of

Deutsche Bank China Germany Ten Percent
Deutsche Bank, China And Germany discussed on Bloomberg Businessweek

Bloomberg Businessweek

00:15 sec | 3 years ago

Deutsche Bank, China And Germany discussed on Bloomberg Businessweek

"Deutchebanks top investor. China's H a group continued to cut its stake in Deutsche Bank people briefed on the matter have said h plans to dispose of its entire stake in Germany's largest lender. The Chinese group weighed down by debt once held almost ten percent of

Deutsche Bank China Germany Ten Percent
"deutchebanks" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

09:11 min | 3 years ago

"deutchebanks" Discussed on Bloomberg Radio New York

"Deutchebanks contracted for the eighth straight quarter complicating chief executive Christian savings turnaround plans this as a report continues to build about a merger. Lindbergh's Mattis spoke to the company's CFO, James malt, say the results were in line with the streets expectations, certainly informed by the context as we've seen through. Our peers earnings reports that the industry faced in in the fourth quarter, and with that in line performance, we weren't able as we'd hoped to stabilize revenues on a relative basis but being down two percent year on year in light of the backdrop that was the industry's backdrop, and frankly, some of the idiosyncratic stresses that we faced we thought was reasonable for performance. We continue to work now on the stabilization and growth of our revenues. We think we've built a lot in terms of foundational improvements in the company that that will carry over two thousand nineteen. The whole street saw drop and trading revenues, but Deutsche Bank had specific issues the rates, for example in the quarter. How much of the drop do you think was the industry and how much of the drop was deutchebanks Pacific? We'll take two things one is in terms of business makes we're we're obviously a leading rates and also leading credit house and those two areas were among the most affected in the market so vaction in the fourth quarter. The Ray did absolutely impact our business especially in in December. It's always hard to measure how much but clearly being in the headlines in that way, is is unhelpful to client confidence. We've gone some way to restoring that and stabilizing again as reflected perhaps in CDS spreads and our credit spreads. That's encouraging. But I think there's more work to do to communicate the nature of of these issues, and how we want to resolve how much has the Danske Bank issue affected you and how much do you expect it? The cost of this year. Well, it's in the papers a lot. And of course, again that affects both employees and client confidence around the name. We're seeking to put it behind us quickly as possible by explaining our perspective of the facts cooperating, of course, with all increase that are out there. But as we've said a number of times in the public as we look at the fact pattern and research our engagement with with the dance Goto Estonia branch, we see Deutsche Bank acting responsibly with its against its obligations as a correspondent Bank. And we hope that has the authority is go through in their increased they'll see that fact pattern as we do we've not incremented our legal reserves or contingent liability. Probably the best reflection of our financial if you like an accounting view of the risks attached to these matters in the fourth quarter. And that's intended to signal something about how we see the fact patterns in. What are reviews tell us? Have you been contacted by the commission regards to new sovereign bond collusion probe? We have not. So you're not one of the banks that the European Union's looking. We have not been contacted by the commission. Okay. Cost cuts were better than expected. And indeed, you raising basically your target for cost cuts in twenty one thousand nine hundred is that difficult to do at the same time as you're trying to boost revenue that's clearly been been the market's concern, and why it is that we went through the reshaping in. But also, we achieved some notable strategic milestones in our asset management DWI and also in our personal and commercial banking business in two thousand eighteen it was a year of tremendous transition change in the organization, which again is part of the foundation that we feel very optimistic about as we as it carries us into two thousand nineteen. So we've we've made enormous progress, and and we feel confident about that. We we have moved away essentially completed the reshaping as it impacts our front office staff as it impacts clients at this point, we will continue to work to drive a fishing sees in our platform. Absolutely. That'll be a multi year effort. And we think is there now that we can bring the billion euros of additional savings to the bottom line as we've announced in line with our revised downwardly revised hearted. You. Boosted revenue in the global transaction Bank. Five percent. I think the private and commercial Bank was to two percent. He is. Is the mix solid now or are there still areas that you want to tweak the mix of solid? We've we've talked about growing stable businesses. We have excellent businesses that went represented well over half of our of our revenues, particularly PCB private commercial banking, which is which grew strongly in Germany, particularly but also in international franchise and global transaction banking, which is you say grew five percent year on year in the fourth quarter. We see momentum in those businesses among other things incidentally in lone grove. We had significant loan growth of over twenty billion euros in the year. And of course, loan growth is a leading indicator for future revenues and an indicator of the health of the franchise in those businesses. CFO James von multi speaking to Bloomberg's Matt Miller, not Israel's ruling party Likud hose primaries on Tuesday as the general election fast approaches, but the main challenges for the current Prime Minister Benjamin Netanyahu comes from eyesight bennigan's, former Israeli military chief is popular has set himself up as the anti BBC seeking to defy him and deny him his fifth ten at office. Meanwhile, Israel's attorney general rejected a request from Netanyahu to delay. The decision on his possible indictment on corruption charges until after the April vote. Joining us from Tel Aviv is Middle East politics reporter Jonathan Jonathan good to see this morning Netanyahu is running for his fifth term. We know that the polls show him at pretty much neck and neck with his Ponant. But could it be the end of Netanyahu? What are you reading? Well, I really could right now. The polls show him running even more or less with Benny Ganz penny Gaunt's is absolutely new phenomenon. He was cooling off for three years since he stepped down as the chief of staff, and he looks very good on television. He's been untested as far as debating Tanya who that may come up during the during the campaign. But right now people are thinking, maybe is time for an alternative. Tunnel that alternative dance in the form of a former general sorry? He I mean, he was one of the top generals. What else can you tell me about him? He photographs quite well. There isn't a whole lot more. He was in uniform for forty years. He's a paratrooper commander. He led the the the war in Gaza. Four or five years ago? And. He presents himself as a as a tough guy. That is very attractive two two Israelis, and whether he can be a diplomat. That's really right now. We'll see we'll see what he can. What convinces rallies about? Benjamin Netanyahu has got investigations. A number of areas, and it looks like his request to delay. Those investigations has run into sort of cold water. Well, that's true. It looks like the prosecutors are nipping at his heels. But as far as the election goes, he's he's at run them. There is a good possibility that the attorney general Mandal blade will issue a draft indictment, but even that gives Netanyahu a chance to respond, and that's going to take several months even up to a year. So he has some breathing room. And he says it fits it's not even happening. He's turned the. He turned the gun around. And he's firing at the the prosecutors saying that they have no case. Okay. Let let's see whether there's any validity to that Middle East politics reporter Johnson Fettes, it fetes get fed tiger from Tel Aviv. More on that election as it draws closer. Not coming up. Also that.

Prime Minister Benjamin Netany Deutsche Bank Tel Aviv Danske Bank deutchebanks Pacific reporter Deutchebanks attorney chief executive Ray CFO Israel European Union James malt lone grove Lindbergh dance Goto Estonia Benny Ganz penny Gaunt
Deutsche Bank queried by U.S. House panels on Trump ties

Radio Atlantic

01:27 min | 3 years ago

Deutsche Bank queried by U.S. House panels on Trump ties

"But there's this anecdote you guys have about Trump Deutsche Bank. And that's in the piece where you mentioned that you say to win financing from Deutsche Bank to build a Trump hotel in Chicago, Mr. Trump, personally, guaranteed forty million dollars of the debt when he could not make his payments during the two thousand eight financial crisis. Deutchebanks executives were open to granting him more time to repay the loan. Thanks to each Bank. But before a compromise could be reached Trump, flip the script. He filed a lawsuit and argued the Bank had helped cause the worldwide financial meltdown that essentially rendered Mr. Trump unable to make his debt payments at the time to Bank, call the lawsuit. Quote, classic Trump the Bank eventually settled with Trump saving him from having to pay the forty million dollars. Mr. Trump expressed his gratitude to the lawyer who fought on his behalf by what not fully paying his Bill. He left me with some costs said, the lawyer, Stephen Slesinger with friends like these Maggie who needs enemies. I I wonder if that behavior reminds you of twenty seventeen when Trump basically cut the short-term spending deal with Pelosi and Schumer, aka cryan, Chuck Schumer and Mansi Nancy Pelosi. I mean, do Republicans should Republicans be looking at this example, or generally his behavior of no alliances really that you should depend on it anytime as as a cautionary tale. No, I think if they wanted to look at it a cautionary tale that that that ship has sailed I think that they could have attended as a cautionary tale awhile ago. They've known the cautionary tale exists, and yet they have continued to walk out on tree branches for this president only to have him saw off, you know, a little time. Later, for instance, current shutdown. Remember this happened after Mitch McConnell passed a continuing resolution through the Senate because he was told that the president was going to sign it. And then it was, you know, blown up in the house or by the president's allies who got him to abruptly pull out of it. So he has done this over and over again, and you'd constantly here in twenty teen concern, especially from Republicans in the house in marginal districts that the president was going to try to push them to take positions that were very problematic for them. And then he might not be there later, and so one of the things that I think the term is holding the bag only one of the things that people who have done congressional negotiations have said to me over and over again is that the key piece here is consistency. And it's a little less significant business, but consistency in negotiations is always really important because you know, who's sitting on the other side of the table. You know that you can trust what they're saying. You know that the fulcrum is not gonna shift, you know, suddenly, and that's just not the case with him. So. So it's all over the place people in the hill doesn't even know who they're supposed to be negotiating with there's Pence. There's there's Mick Mulvaney. There's Jared Kushner there's the president himself throwing himself in. Sometimes this is this is not how you do it. There is a similarly antagonistic story from the late eighties. When Trump tries to develop Manhattan's west side rail yards, and he gets into a public brawl with then Mayor Ed Koch who he had been asking for a seven hundred million dollar tax break. This is from reporting in Bloomberg at one point Trump's at the mayor had quote, no talent and only moderate intelligence. This is a I mean, you could really use that same phrase for any number of Trump's adversaries in the present day and Trump said that the mayor should be impeached. Ed Koch would do everybody a huge favor if you would get out of office, and they started all over again, the bluster and the the throwing people who you need things from under the bus behavior is I it's amazing. To actually see it play out in the eighties. And here we are in twenty eighteen and I feel like the exact same thing is happening all over again. It's reasonable to argue that we are living in a Tom Wolfe novel for the capital actually, interviewed him

Mr. Trump Trump Deutsche Bank Donald Trump Mansi Nancy Pelosi President Trump Mayor Ed Koch Mitch Mcconnell Mick Mulvaney Stephen Slesinger Chuck Schumer Tom Wolfe Jared Kushner Senate Chicago Maggie Bloomberg Manhattan Forty Million Dollars
"deutchebanks" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:23 min | 3 years ago

"deutchebanks" Discussed on Bloomberg Radio New York

"This is Bloomberg daybreak. It's five thirty on Wall Street. Good morning. I'm Nathan Hager. And I'm Karen Moskow where just about four hours away from the opening of US trading. Let's get you up to date on the news. You need to know at this hour global stocks are mixed to start the day following yesterday's one point four percent decline for the S and P five hundred uncertainty over trade and politics continues to permeate global markets in Europe, the UK parliament is moving closer to a plan to delay Brexit, and we get that story from Bloomberg's Tim Ross. Joe McDonnell Labor's chief finance baseman told the BBC labor is now increasingly likely to backup proposal to delay breaks is if the prime minister can't get a deal with labor settled the plan to extend that March twenty ninth deadline is much more likely to be passed. If it is a vote in parliament next week in tim'rous, Bloomberg daybreak. All right, Tim, thank you. We're getting word that the Federal Reserve is examining how Deutsch. Bank handled billions of dollars in suspicious transactions. Bloomberg's John Tucker joins us live with a very latest. Good morning. John. Good morning. Karen, sources say the feds pro is scrutinizing whether deutchebanks US operations properly monitored money brought into the US from a branch of dansko Bank. Dansko has admitted that about two hundred thirty billion dollars it handled been dirty the US requires banks operating under its jurisdiction to scrutinize clients in their dealings to detect potential bunny laundry. Deutchebanks says it's received several requests for information. From regulators John Tucker, Bloomberg daybreak John. Thanks on the earnings frontiers of Berber, you're down four tenths percent in London holiday sales at the British retailer fell short of estimates here in the US two dozen companies and the S and P five hundred report earnings today, including United Technologies Proctor and gamble and Ford Motor shares of IBM are up six percent in early trading. The company gave a positive forecast for twenty nineteen and beat estimates for fourth quarter sales and earnings. And the Bank of Japan left monetary policy unchanged inflation outlook once again, the move underscores. How far away the central banks price target is? And how few options at has for drawing closer, it is five thirty two on Wall Street. Let's get you up to date in how stocks are faring. We check the markets every fifteen minutes throughout the trading day on Bloomberg s and p futures are up seven points this morning. Dow futures up eighty two NASDAQ futures up twenty three the Dax in Germany is down at tenth of a percent..

Bloomberg US John Tucker Karen Moskow Tim Ross Joe McDonnell Labor Deutchebanks Nathan Hager Federal Reserve Bank of Japan Europe dansko Bank prime minister Dansko Germany UK Deutsch Brexit
"deutchebanks" Discussed on All In with Chris Hayes

All In with Chris Hayes

03:09 min | 3 years ago

"deutchebanks" Discussed on All In with Chris Hayes

"We have all of that work to do. And so we've done we've got to do our now, don't forget inquiries into Dutch Bank was part of the work. We had already started to do. We had sent letters to deutchebanks trying to find out about two internal reviews that they had done. And what did they find out? Of course, they did not answer us. We've been trying to find out about the money ties to Russia through deutchebanks. We know that Dutch Bank Lynn's this president. I have known him a lot of money, and we want to know whether or not to money laundering is going on. So we'll do a little of that. We'll do some abet continuing work, but we won't be concentrated just on that. So the the your Bank increa-, George makes pay these enormous settlements right with both domestic and international regulators. That's right about money laundering. So you already had pre existing increase. They also happen to be the Bank that became the kind of lender of last resort. The president, right? No other Bank will. Lend to money and it stores. So you want to do you want to talk to the head of deutchebanks you in a column before the committee? Are you're gonna investigate them. What? Well, I think we're going to follow up on the letters that we have already set and sit the heavy change of mine now that things have changed in the house. You're seeing the letters. You said them as the ranking members post letters, you might send them back did not respond to those. So we're going to see it. They got to be a little bit more cooperative. And then we'll see where we go from there. You talked about moving UCF PB. There's been two things that have happened in the area. You are receive financial services one is a real kind of deregulatory push at the sort of executive level. There's also been legislation passed that ruled back some dodd-frank trae how perilous how dangerous do you think the last two years had been for the sort of health of the system? Well, the last two years have been very dangerous. I have been appalled and surprise at how blatant it has been this administration is not at all concerned about the welfare. Of the average family and the welfare of people who are struggling every day to make a living. They don't mind him getting ripped off admitting ways. Whether we're talking about the consumer financial protection bureau that oversees things like payday loans other involved in, you know, trying to that this administration is involved in many ways and trying to undo the work that we have done to try and protect the average family and homeowners you you entered congress believe in nineteen Ninety-one, right? So that's been that's twenty eight years ago. What is it like today to see this incoming class and the variety of backgrounds? They represent compared to what it was like when you walked in and took that that oath twenty years ago, it's very different when I came to congress, the financial services committee was the old banking committee and people were fleeing the back because there was the Bank scandal going on until those of us who were pushed onto it with kind of punish bad assignment. Oh, terrible aside because like savings and loans.

Dutch Bank deutchebanks Dutch Bank Lynn president Russia congress UCF George executive two years twenty eight years twenty years
Stocks Mixed as G20 Summit Kicks-Off in Argentina

Bloomberg Daybreak: Europe

01:30 min | 3 years ago

Stocks Mixed as G20 Summit Kicks-Off in Argentina

"As you mentioned oil sink yesterday. But I think since the last European clothes has kind of been fluctuating, which may be why oil stocks are up a little bit this morning, but oil is ready on track for its worst month in a decade. And I mean like with all other major topics everyone will be watching the g twenty meeting coming up because everyone's basically wondering what Saudi Arabia is going to do. I mean is it gonna anger President Trump and try to cut production or or might kind of prioritize can of keeping oil prices higher. Absolutely. Vladimir Putin holding talks with Mohammed bin Salman, the Saudi Crown prince that will be closely. What some folks are saying. That is the real OPEC meeting. Let's also talk a little bit about Deutsche Bank. We've seen a lot of news floor regarding this stock, of course in the past twenty four hours rain and today it's actually down again zero point five percent after ready a pretty sharp drop yesterday. But of course, people are still kind of looking at the ramifications of this money laundering probe that we read about yesterday. And you know, my colleague has been writing about concerns over bonuses whether Deutsche Bank will be able to retain its talent. And also the fact that I mean deutchebanks new CEO is really in this very familiar negative feedback loop again between bad news rising funding costs and dropping revenue. So it doesn't seem like there's a there's a light at the end of the tunnel. Just yet.

Deutsche Bank Saudi Arabia Vladimir Putin Saudi Crown President Trump Opec CEO Mohammed Salman Twenty Four Hours Five Percent
Deutsche Bank says to swing to profit in 2018 despite steep third quarter drop

Bloomberg Daybreak: Europe

01:16 min | 3 years ago

Deutsche Bank says to swing to profit in 2018 despite steep third quarter drop

"Bank fake is. Of course, the the Nordic banks awnings breaking this morning as well profit in the quarter fell short of expectations net income fell eighteen percent to six hundred and eighty four million euros, the CEO casper on the coast school is saying that the three months to the end of September were challenging are not satisfied with the revenue development. Nordia says also down year today not as badly hit as deutchebanks still though we're seeing loss here of some sixteen percent for Nordia Bancshares. And this, of course, only really the tip of the iceberg when it comes to European earning said this morning Matt's. Yeah, we're getting so. So many of them. Let's just go back and forth here Norsk Hydro third quarter underlying Ebid earnings before interest and taxes operating profit was two point six eight billion kronor the estimate was for one point eight seven billion kroner, so really blowing away the under the underlying operating profit estimate from the street revenue was thirty nine point seven seven billion kronor that's a little bit less than the forty

Norsk Hydro Nordia Bancshares CEO Nordia Matt Eighteen Percent Sixteen Percent Three Months
British Airways website suffers data breach; 380,000 payments affected

John Jastremski

00:26 sec | 3 years ago

British Airways website suffers data breach; 380,000 payments affected

"Is eight thirty here in London ninth as you were in Paris will Berlin I'm on it was you're listening to Bloomberg daybreak year. We gotta read headline across the Bloomberg in relation to Deutsche Bank. Dow Jones reporting that HANA is said to exit deutchebanks so are they getting out of these business? One of the stories that we've been carrying earlier on today suggested that don't you Bank have been talking to hedge funds trying to rebuild up some of that business in the United States on Wall Street despite their

Bloomberg United States London President Trump China Anna Leeann Europe Turkey Washington Vinny Del Giudice Dow Jones UK Asia Twitter Mci Asia Pacific Deborah Deutsche Bank
TSMC recovers 80 percent of virus-hit production line, warns of production delays

07:39 min | 3 years ago

TSMC recovers 80 percent of virus-hit production line, warns of production delays

"They've stopped defending, Neo, on they think it's going to help offset the US effort to. Get rid of their unfair trading sounded The. Currency fall, though I think it's just money leaving China because, it's a lousy investment and that continues that were really damage the Chinese economy if the Shanghai composite falls. Another three tenths of a percent. Today, then that would put it at about. A two, and a, half year low we've got some interesting data for China this week the probably one of the more important numbers are going to be trae data to see whether or not this trade war is actually beginning to creep into some of the numbers meantime China may actually be about to report its first half year current account deficit. In decades the story from Bloomberg's Yvonne man deutchebanks says, China is likely to report a current account deficit of about, fifteen billion dollars for the first half that will be the first half year deficit for the country since. Nineteen ninety eight db analysts. Juillet John and you say the expected to. Client is part of a, structural trend due to consumption upgrades and slower export growth and they say trade tension will reinforce the The. Downward pressure on China's current account in the second half. And in two thousand nineteen in Hong Kong Yvonne man Bloomberg daybreak, Asia well some well-known Asian tech stocks may be moving today on word that. Google is looking for partners to offer its cloud. Service in China details from Bloomberg's rainy incensio ten cent and inspir- electric information industries Asia traded stocks may get some attention today on word Google's parent alphabet is in discussions with. Them, on the initiative Yahoo Japan Nanjing panda electronics Xinjian son yes electronic China security and Shenzhen. Innovates tech are also stock to watch because, of this we're being told Google has been in talks on a possible partner on this since early this year and narrowed candidates down to three companies in the spring the goal is to run services like drive and docs, through Chinese data centers and servers but we're also hearing that trade tensions could make progress difficult Ramy, Inocencio Bloomberg daybreak, Asia Taiwan Semiconductor Manufacturing Co. Racing to recover after a crippling computer virus more from Bloomberg's Denise Pellegrini TSMC now says eighty percent of its fabrication tools are back after. Being, hit, by the virus. Friday, evening the Taiwanese company also says the incident will delay some shipments and hurt revenue operating margins for the quarter but it still sticking, with its forecast for single digit revenue growth for the year in. Dollar terms TSMC's in the middle of ramping up chip-making production for Apple's next iphones it's not saying which customers are, affected, by, the, delays, to, these Pellegrini? Bloomberg. Daybreak, Asia and TSMC opened. About one percent lower on continuing to. Trade around that, level two hundred forty four fifty stock has come up from just a little more than two hundred and ten dollars though over the past month or so. All right the time is now six and a half minutes past the hour let's get, the latest in news San Francisco Ed Baxter's there China's serving itself Ed throughout Asia, and, some, new reports that Make some progress with, as Ian tell us more, yeah well the conference over the weekend Brian has you know the conclusion there's some school. Of thought China's move to a better now relationship with Azza nations they're listening to them anyway dole who, is a senior researcher at Pango wall institute says they have worked out scenarios of mutual security help in situations like on the oil tanker what we are going to do. So all those measures that will move forward that longtime peace and stability cooperation between China and that's John countries I think yes indeed quite productive he says China will. Be important component. At that and at US stay Mike Pompeo's made the promise to talk to Russia about alleged violations on North Korean sanctions that detracts. From the. World's goal finally fully denuclearizing North Korea would be something that America. Would take very seriously and the, Trump administration is now admitting that there are definite problems in, the talks with North Korea National security adviser John Bolton on foxing promises. Have. Been, made there's nobody in this, administration, starry eyed about the prospects? Of North Korea actually denuclearizing but I think what's going on now is that the. President is giving Kim Jon, masterclass, and how to hold a door open for somebody US intelligence has been reporting now for over a week that Kim Jong UN is still working on ICBM development seven point zero. Quake Indonesian island Blomberg has taken at least eighty two lives now officials say the quake felt very strongly in, neighboring Bali, some, damage, done there. Australia's home, affairs minister Peter Dutton as one of those evacuated from oh tells in the region and we're getting reports of aftershocks USGS saying a five point three global news twenty four hours a. Day, on Aaron talk on Twitter power by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries in San Francisco I'm Ed Baxter this is Bloomberg I'll, take it over here, Toby Lawson Zor guests managing director at Salk gen securities Australia, Toby what do, these signals warn you about we've got, a flat yield curve we've got a sort of impending trade war we've got what's happening in emerging markets we commodities and China. Slowing what does. That tell you Picked him all on the on? The the worst case scenario and. All of those elements and I don't think. That's necessarily way at all I think. You could at flattening a. Little bit of moving on Flattening, Leach technically towards recession in the US into the. Twenty. Nineteen but right now not bad US economy strong early days and how's it going to impact TDP with a medium-term godly get. Brought at this stage not a hell of a. Lot of the impact immediately emerging markets will let US dollar story Have? You still, have strong that puts the pressure on the aims but during the last time we had a dollar crisis again fundamentally they're in better shape, than they would so I'm not as negative I roll but they certainly watch points you're looking at and they relevant are, you bearish on the you want I mean? We've seen, quite a bit of depreciation here over the last several weeks, in particular Friday when we hit six ninety one against the dollar. And then we had to the PBOC, kind of imposing. That the reserve requirement twenty percent on some four x. forward contracts what do you expect, for the you want I mean have they drawn. The. Line implicitly in the sand at seven No I think, this slide it up I think you have? A look, at the statements to that move on the wind shift significant He's nice surprise the PBS candy slow it down but I think this. Is not. Necessarily the end of it I just think it's. A matter of getting poised to happen at the, at the time banks nice surprise we saw that move coming from PBA identikit. Ends, it intends to pressure on the. One for depreciation but at least it'll give a bit of breathing space for the market, to Deep edit will be and subject. To have the trade will if they start to. Escalate how they will have an impact on, the Chinese economy you guys had sought Jenner usually pretty pretty sober and a. Little bit nervous so that's why I served up to you and I'll, come, from the other direction. When. We continue our. Conversation because as looking at Prada, LVMH and Gucci, these stocks are all surging and essentially that's China that's really. Where they have their big big moves so how do we square that with.

China Bloomberg United States Asia Juillet John San Francisco Google Ed Baxter North Korea Shanghai Tsmc NEO Hong Kong Yvonne Inocencio Bloomberg Yahoo North Korea National Security Shenzhen Kim Jong Un Pboc Asia Taiwan Semiconductor Manu
Apple launches $300 million green energy fund in China

Bloomberg Markets

01:05 min | 3 years ago

Apple launches $300 million green energy fund in China

"Quickly threatening a recession that chairman jerome powell present the information to congress next week according to reports pal has said the economy is it really good place adrienne mitchell bloombergradio goldman sachs and blackstone group of taken a minority stake in private equity firm francisco partners terms of the transaction were not disclosed but lemberg has learned that u investors will hold less than ten percent interest francisco is a tech focused firm that has invested in more than two hundred companies since its founding in nineteen ninety nine apple the iphone maker has upped its environmental efforts in asia bloomberg's courtney donohoe has more apple announced at three hundred million dollar fund to promote clean energy in china the company wants to boost the use of renewable energy and its supply chain which is primarily spread across the country apple and ten of its key suppliers and partners will contribute to the fund over the next four years deutchebanks asset management arm will manage and invest in the fund earlier this year apple also helped aluminum suppliers alcoa and rio tinto start developing a new technology that eliminates greenhouse gas emissions during production that.

Rio Tinto Asia Francisco Partners Adrienne Mitchell Congress Chairman Alcoa Jerome Powell Courtney Donohoe Bloomberg Apple Francisco Lemberg Blackstone Group Goldman Sachs Three Hundred Million Dollar
Apple is spending millions to clean up China's environment

Politics, Policy, Power and Law

00:59 sec | 3 years ago

Apple is spending millions to clean up China's environment

"Threatening a recession that chairman jerome powell present the information to congress next week according to reports pal has said the economy isn't a really good place adrienne mitchell bloombergradio oil is poised for its biggest weekly loss and almost five months new york futures plunge almost five percent to speak trade tensions between the us and china rattled investors and libya's plans to boost production quelled some fears of a supply crunch apple the iphone maker has upped its environmental efforts in asia bloomberg's courtney donohoe has the story apple announced a three hundred million dollar fund to promote clean energy in china the company wants to boost the use of renewable energy in its supply chain which is primarily spread across the country apple and ten of its key suppliers and partners will contribute to the fund over the next four years deutchebanks asset management are more manage and invest in the fund earlier this year apple also helped aluminum suppliers alcoa and rio tinto start developing.

Rio Tinto Asia York Adrienne Mitchell Bloombergrad Congress Chairman Alcoa Jerome Powell Apple Courtney Donohoe Bloomberg Libya China United States Three Hundred Million Dollar Five Percent Five Months