17 Burst results for "Michael Corvette"

"michael corvette" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

08:02 min | 3 months ago

"michael corvette" Discussed on Bloomberg Radio New York

"Reporter in a Syriza tweets. Press secretary Jen Psaki says Duck Low, has apologized to the political reporter in center, a personal note expressing his profound regret when he returns, Duck low will no longer be assigned to work with any reporters. A politico Don't miss it terribly. And I'm Susanna Palmer in the Bloomberg newsroom calls are coming in from state Republicans for Governor Andrew Cuomo's resignation This after Cuomo's top aide told Democratic lawmakers in a virtual meeting this week that the administration withheld nursing homes. Covert 19 death toll to avoid a federal investigation. Secretary to the governor, Melissa de Rosa, said that the state rebuffed in August legislative request for the tally. Ah, partial transcript of the meeting was released by the governor's office yesterday, Cuomo was facing increasing criticism for alleged intentional undercounting of nursing home deaths from covert 19. Proposal in governor Cuomo's budget would make spitting and other forms of aggravated harassment against transit workers punishable by up to one year behind bars. More from Bloomberg's Dinis Pellegrini, a coalition of transit worker union says empty a bus, subway and commuter railroad workers were spat on more than 200 times last year. The governor's proposal will do away with the standard that requires AH police officer has to witness an incident of aggravated harassment before an arrest could be made. It would allow officers to investigate based on an incident report that a transit worker files instead. Nisa Pelligrini Bloomberg Radio. Bank of America and Citigroup trimmed compensation for their chief executive officers last year. Filings show Bank of America cut CEO Brian Moynihan's paid by 7.5% down to 24 a half million and Citigroup. Curbed compensation for outgoing CEO Michael Corvette by 21% down to 19 million. Both lenders cited the impact of the pandemic and considering the compensation levels. Czech gun maker announced an agreement to acquire the parent company of Colts Manufacturing the iconic brand, based in West Hartford, Connecticut, whose revolver one the West in American Lord. Global. He was 24 hours a day on air and on Bloomberg. Quick take powered by more than 2700, journalists and analysts in more than 120 countries. I'm Susanna Palmer, This is Bloomberg. This is master's in business with very rich hold on Bloomberg Radio. My special guest this week has been anchor he is GM owes Head of asset allocation during the dot com implosion, the GMO aggressive, long short strategy. Which was long, undervalued Stocks and short, overvalued stocks achieved an 80% human of net return for clients. The farm is led by Jeremy Grantham and currently manages about $60 billion. Then incur. Welcome to Bloomberg. Well, thanks very much for having me bury. So your current role is head of Deimos Asset Allocation team. How did you arrive at that position? Tell us a little bit about your career path. Well, I have been at G M O for the entirety of my professional career. I joined GMO in 1992. I was hired as a research analyst working for Jeremy Grantham. Um And since Jeremy was the person who was kind of most focused on pop down asset allocation stuff that GMO well, I did a lot of different kinds of research over the first. No. Later 10 years of my career, I was The person who had done the most work on acid allocation that our Business in acid allocation grew. I wa so you know his assistant portfolio manager and then the portfolio manager and then over time, the head of the team. That's the short form interesting. So you started early nineties, which was quite an interesting decade to cut your teeth on. How did your early experiences During that era shape your views off the market. One of the things I got early on was this, um And strong understanding and belief that markets can do crazy things, but over time they do. Eventually come back whether that's because they have gotten absurdly cheaper. Certainly expensive, You know, I then got to participate in the next great bubble, which was quite painful for us as investors. But then, you know, got to experience Just how crazy uh The world could get s so it was a fascinating kind of crucible. Torto grow up in as an investor. So you say that was painful, but in the ends Ultimately, the firm and Grantham's calls ended up being right. It was a big money maker. To the downside. Does that offset the pain? What do we take away from? When markets go crazy, but ultimately, you know, as always, that sort of excess ends in tears. Yeah, I think you know it is. It is truly the case. Um That, uh You know the market in the short term, maybe a voting machine but in the long term is a weighing machine on at the end of the day. A to least for assets that were valuation is Relevant on. It is astonishing that we live in a world where there are more assets where valuation is is not a relevant thing anymore, but for the vast majority of financial assets out there We're about valuation is relevant valuation will eventually out. Um you know, at the end of the day, everything is worth the present value of the future Cash float. And what we have seen time and time again is the market will forget that. On and as the market forgets that it will do some Of objectively silly things. But in the end, um those cash flows or the lack of them is a Profound the discipline to the market, which will pull things back now. The timeframe that they're going to pull them back over is uncertain. Um, and one of the things you know we we lived in in the late nineties events. Eyes that while in the end the collapse of that bubble Woz positive for us. It was positive for our clients because we did manage to make the money for it. And helped GMO grow as a business. The reality is there were a number of other Money managers that saw what we saw and did some of the things we did, and for whatever reason, couldn't hold off. So you write very thoughtful, quarterly or so letters that I enjoy. Couple quarters ago, you had explains as some of the tech stocks keep rallying is some of the valuations continue to stretch. No one could really guess where this ends. But the most likely ends will be when the Fed starts to tighten and raise rates. First time I am I oversimplifying that or is that more or less right? And do you still hold that sort of belief? You know, it is not. It won't surprise you at all to hear that The most common question I am.

Jeremy Grantham Susanna Palmer Citigroup 1992 Bank of America Melissa de Rosa 7.5% 21% Brian Moynihan Dinis Pellegrini Jeremy Nisa Pelligrini Michael Corvette Cuomo 80% Syriza Duck low August yesterday Democratic
"michael corvette" Discussed on WGN Radio

WGN Radio

03:06 min | 8 months ago

"michael corvette" Discussed on WGN Radio

"Market Update with Lauren Lap coz you know what started as a up and down day is now pretty much just down now is down. 143 points, NASDAQ Down 29 Points and S and P 500 Down 16 points. There's O'Ryan Samuelson with business scene or the agribusiness hee know about Steve Alexander and stole. That's right. That's right. That's right. How are you, sir? I'm well about you. I've been thinking about you, man. Oh, good. Good. Good thoughts. I hope good thoughts, I hope NFL football tonight, John. You may wonder what that has to do with agriculture. Good pig skin. I don't know. You tell me Exactly. Got it. Ding ding ding hog futures right now. Trading $3 higher. That's the max that Khun go! That's called the limit that $64 per 100. Therefore, the pigskin connection, although nowadays all the pro and collegiate teams use footballs that are made out of cow hide, but we still call it the pigskin. Also with the Merck Live cattle trading 35. Cents higher at 10505 Ft. Er Cavil or up a dollar 37 at 1 39 62 at the Chicago Board of Trade. Wheat is up a nickel corners up four cents and beans are still in the red down, though only about a half a penny right now. One of the most elite of the rich old boys clubs is breaking up. Citigroup CEO Michael Corvette is retiring early next year and succeeding him will be Jane Fraser. Making her the first female CEO of a major U. S bank. Crazy. It's taken this long right. She is currently in charge of retail banking at city. So if you have a city credit card, she's in charge of that product. Her promotion is that the end of a management overhaul that has been underway at the third largest U. S Bank. Because of lackluster performance. The Citigroup shares have climbed 42% during Corbett's tenure, which began in October of 12 2042% doesn't sound bad until you look at JPMorgan Chase shares, which have been during that same period of time up 141%. I've been a rocky road on Wall Street today, as Lauren mentioned heck, this week has been up and down Tech stocks getting hit the hardest. Apple, the world's most valuable company down 1% after being nearly 3% higher earlier in the day. And the rest of the fangs are mostly lower today to an outlier, though, is Tesla. Shares of the electorate. Vo Cope Electric vehicle Company. Ah Ra's Muchas were as much a 7% higher in earlier trading right now off about 5.1%. Some of that is because of a note to clients from Oppenheimer, which said Tesla would likely benefit from a Joe Biden prentiss presidency. Biden if elected, according to Oppenheimer, is expected to reinstate the Obama era fuel economy standards expand evey tax credits make evey charging stations easier to find. And also buy a lot of alternative fuel vehicles for government use in for the big Oh, that's your money on 7 20. W G. N Well, Chicago even have a.

Lauren Lap Citigroup Joe Biden football Oppenheimer CEO John Tesla Vo Cope Electric vehicle Compa Michael Corvette Samuelson Steve Alexander Khun JPMorgan Chase NFL Chicago Board of Trade Merck Live Chicago
"michael corvette" Discussed on MAD MONEY W/ JIM CRAMER

MAD MONEY W/ JIM CRAMER

02:49 min | 2 years ago

"michael corvette" Discussed on MAD MONEY W/ JIM CRAMER

"So I wouldn't have to justify the position here where at least that's what my say. But my headed very different response you own CitiGroup. The stock for the tangible book, what are we worth? If you close the business, everything and return, the posts to shareholders, this is the single most important metric for the Bank, stocks interest, Marsh, not that. No. And if you believe the city's tangible book, you as clean as I do if you believe there's truly mutt. That much cash on hand, then it would be nuts to sell the stock because eventually that aren't thing will work its way higher preps a lot higher. In other words, it's a watchable to sell the stock of CitiGroup emotionally, it's very tough tone. But nobody should rely on their motions to make money management decisions. Why no city the stock is ridiculously cheap trading in about three dollar discount to its tangible buffet again, that's. What it would be worth if they close the doors tomorrow? But here's the problem. Of course, they're not going to close the doors tomorrow. So we didn't marketplace's cities go to lose that money, or at the money isn't really there to begin with CitiGroup is pledged purchase about eight percent of its shares at these levels because the stock is so darned cheap. I can't where they're coming from. Although I think it's important that we give it a four percent stock would come down. But actually give it a much more advantageous to shareholders. I know that the longer city stock stays around here. The more catcalls we hear about CO, Michael corvettes leadership. But it's not as fall the Bank stocks all pretty awful on the line of Goldman Sachs is training is similar discount to its tangible book, but let's see personalized this for second. Forget city forget, golden key qual, okay, parent company. Keep Atkinson, Ohio doesn't hurt anybody. Here's a stock that cells from yearly the same price. Jeremy's multiplicity group has a higher you for point four two percent. And that unlike city kiss small enough to be taken over which is probably why. Doc trades at a four dollar premium to its tangible book value, and I think this would be an amazing franchise for someone to buy because the company has more than one thousand one hundred inches. Of course, of course, fifteen. You could argue that there's more, but it's the mainstays it's extremely proper, and it's growing at a preteen decent clip yet. No, major Bank has shown any willingness to choir Kikwit, and the big hedge funds are steering clear. Why will the prevailing wisdom is that you can't own the banks here because the yield curve is inverted short-term interest rates are higher than some long term interest rates and that hurts their building and make money. Plus, everyone says inverview curve assign that we're heading into recession which would be very bad for the businesses for both key and city. I think the recession fears people are totally overblown. But the simple fact is there's no real cattles. Thanks, unless the fed decides to cut interest rates several times, I don't see that happening. So what's the endgame here? There is not stagnation and stagnation unacceptable to most performed managers..

CitiGroup cattles Marsh fed Goldman Sachs Michael corvettes major Bank Jeremy Atkinson Ohio Kikwit one thousand one hundred inche four two percent eight percent four percent three dollar four dollar
"michael corvette" Discussed on MAD MONEY W/ JIM CRAMER

MAD MONEY W/ JIM CRAMER

03:12 min | 2 years ago

"michael corvette" Discussed on MAD MONEY W/ JIM CRAMER

"Call me at one eight hundred seventy three or tweet me at you. Are we in a situation a situation where the only thing we have to fear is fear itself on a not so out there for the Dow dipping eighty six points. That'd be client point five percent. Nasdaq losing point nine four percent. So that stuff sell sell sell. I think he's number. They have sure the real story. Because ma'am, I listened at city groups terrific conference. Call this morning, the one that sent stocks soaring. Four percent. I sure got the sense that we have a lot less to fear than we think in fact, sitting maybe the perfect metaphor for this moment. We're so word state of the global economy that we're missing some great opportunities. Get a load of what CEO Michael corvette told us when his conference call. We clearly see a disconnect between what we see in our business. And what the markets are saying he goes on explained that he sees no significant slowdown. In fact, according to corporate we see the biggest risk in the global economy is one of talking ourselves into the next recession as opposed to the underlying fundamentals taking us there. Wow. Wow. That is some very polish commentary. So what exactly does it mean for you, and your portfolio, I we've been through very serious bear market. I know no one else is saying that except for me. But that's exactly what's happened. Even it was short-lived liberal and in a bear market investors, oblivious to any good news, while we Fred about even the slightest piece of negativity because it's hard to believe that stocks could plummet as hard as they did if everything in the real Connie's, okay cities, a classic example, this dominant international banks sorts stock plunged from seventy dollars before J Paul declared war on the US Konami. Down to forty eight dollars. Slows a couple of months later anytime you made your Bank tastes that kind of slack. You mean stock market say we that could be a real economic slowdown along with the spike in bad loans. Also. Read through cities actual numbers. The only meaningful negative was in the volume of trading reflecting at twenty one percent decline fees. You you're well that was enough to give the quarter the appearance of weakness. The truth is the trading has nothing to do with the real economy, which was robust for CitiGroup without any spike in bad loans whatsoever. And that's the fear of fear itself. Speaking on top of that, we're seeing you very different pattern developing here in the last few times, the banks reported we've gotten used to the Bank stocks kitty hammered. The results because they've repeatedly run up into the quarter. But not this time this time. The Bank socks reflect the fact that people are taking themselves talking themselves into recession people actually believe it. So we haven't had that kind of run up. Instead, we have a situation we're sitting company that made four point two billion dollars in the fourth quarter with the stock that traces substantial discount its Tej book fail actually, put back seventy four million shares of its own stock. Corvette intends to repurchase. Another eight percent of the company share this year. That's stronger gets pick sitting gophers actual momentum here. Thanks to an annuity stream called, and I quote treasury and trade solutions, it's a mouthful, but listen to this one its own. I think this probably could be worse seventy or eighty billion dollars half of city's current valuation work.

Michael corvette Corvette CitiGroup CEO gophers Tej Konami US Fred J Paul Connie eighty billion dollars forty eight dollars two billion dollars
"michael corvette" Discussed on MAD MONEY W/ JIM CRAMER

MAD MONEY W/ JIM CRAMER

03:59 min | 2 years ago

"michael corvette" Discussed on MAD MONEY W/ JIM CRAMER

"North valley community foundation, and we'd love to encourage. Others to go ahead, and please give to these families who have lost so much, and we will let him you say, and we will do that. Absolutely. Of course. 'cause that is you, and that's one of the reasons why we come to expect Salesforce to get the finest people in the country because that's your top priority. The the numbers here are bid stunning in the sense that you're really still talking about beating numbers by hundreds of millions of dollars. Even when people did not expect this to be an important quarter. Because so many people worried about a worldwide slowdown. I don't see a slowdown around the globe. As a matter of fact, I seat excel ration-, particularly in Europe. Jim. We see hitting our big goal, which is twenty two twenty three billion dollars in revenue within two fiscal years by school year, twenty two and the Dow tighten that up here. We are we're giving fiscal year twenty guidance for the first time at sixteen billion. We are really excited. Salesforce remains the fastest growing enterprise software company of all time. That's incredible. Now what for instance, I'm looking at the numbers I compiled for what you could do for fiscal fourth quarter twenty nineteen guidance next quarter, you blew the revenues away in terms of what you give a forecast, but the everyone's focused initially order. I mean, Jim these revenue numbers are incredible. When you say. Great basin for the quarter. Right. Awesome. I'm saying that people should be focused on the ravaged because that's how I gauge your strength. Well, you can see we had a great quarter. The third quarter was phenomenal. You see we're giving phenomenal guidance for the fourth quarter. And I hope you know, certainly, we're all praying and hoping to improve on that by the way. And now we can see a strong fiscal year ahead in fiscal year twenty as well. I don't think the company has ever been stronger, Ben a better position. And the reason why is every company that we're dealing with is going through a huge digital transformation and every digital transformation. Jim begins and ends with the customer, and you just look at one of the largest deals. We did this. This quarter is a nine figure deal with one of the largest banks in the world. And they're just rebuilding how they deal with their customers. That's an amazing amazing story for us just to see everybody. Go through the strengthening nine figure Gil would mean, basically that the redoing everything is customer facing. Everything that is customer facing for one of the top five financial institutions in the world. And another one that I can give you the actual name for is doing something just as exciting a CitiBank, and you know, Michael NFL tastic job is CEO city, we've been working on the retail transformation there and this quarter. They opened the door for us. And now we're doing the wealth transformation as well. We couldn't be more excited about everything that CitiBank is doing. It's Michael corvette is this. So I think this people who are trying to understand the enthusiasm. You know, I've had for your stock since was at eight dollars. They're trying to figure out. Okay. Why does city need Einstein? Analytics why do they need a marketing cloud? I mean, it's just a back. Well, every company is transforming their relationship with their customer, and we're going from a world where if you don't have a digital one on one relationship with your customer. You're just not going to be that successful. And you can look at some of the huge successes that we've had in the quarter. And I've got some great stories to tell you, Jim. But you know, one of the stories that I love is Uber. Of course, we've all called are Uber. Well, goober has a tremendous need to have a relationship not only with you the consumer. But also with the driver their own internal operations. That's been exciting story with us. And as we've been able to improve our relationship with their and other executives in the company we've seen them with really transformed their relationships with their customers. So I have a lot of partnerships last time I saw you as out that we are excited about the app partnership. This does that blurs your producers ulcers at two three year transformation. Spent a great opportunity for us..

Jim Salesforce CEO city North valley community foundat Europe CitiBank Dow Michael corvette Gil Ben Michael NFL Einstein twenty two twenty three billio two three year eight dollars
"michael corvette" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:27 min | 2 years ago

"michael corvette" Discussed on Bloomberg Radio New York

"I'm Barbara Kusak. This is Bloomberg best Bloomberg best is about the insight in the context. Get from our guests. It's a great way to catch up on some of the stories. You might have missed on the Bloomberg stories, you're not going to find in any other news organizations. Bloomberg best. Bloomberg's best stories of the day powered by twenty seven hundred journalists and analysts in more than one hundred twenty countries around the world from the Bloomberg interactive brokers studio, I'm Ed Baxter on this edition of Bloomberg. Best for Wednesday, November fourteen city CEO, Michael corvette on global banking. We tend to operate with fairly large companies US global multinational companies, and I would argue that their balance sheets are in pretty good shape. And then you're gonna discusses the price of oil. It looks like actually from market point of view more manageable than it looked a couple of months ago when there was a lot of anxiety. And that's why among other reasons prices zipped up eighty six dollars all this and more coming up in the next hour of. Bloomberg best. And I'm Doug krizner at Bloomberg world headquarters in New York. Let's check this hour's top business stories and the markets fed chair. Jay Powell said the US economy is strong, but could face headwinds next year as policymakers way how far and fast to raise interest rates. He also said there are growing signs of a slowdown in the global economy. Chinese officials are said to have outlined a series of potential concessions to the Trump administration as the two sides try to resolve their trade war, even so the commitments from China for now fall short of the type of major structural reforms. The Trump administration has been demanding. We are told the talks are continuing. And that they are constructive. British Prime Minister, Theresa may is facing a growing revolt from within her own party, and it's threatening to derail May's Brexit plan and force the UK out of the with no deal. At least two senior ministers are said to be considering to quit at the same time scores of conservative members of parliament or. Are lining up to vote against the accord that maze cabinet grudgingly agreed to on Wednesday, California's largest public utility PG was plunged into a full Brome crisis by the possibility its equipment sparked one of the catastrophic wildfires ravaging the state we had shares in PG and E plummeting. Twenty two percent after the company said it had exhausted its revolving credit lines, signaling growing, financial stress. We check markets every fifteen minutes here on Bloomberg began stronger against the dollar by one tenth of one percent to one thirteen fifty the Nikkei weaker by three tenths of one percent. Hang Seng higher by two tenths of one percents. Shanghai composite is up one half of one percent. The kospi is down two tenths of one percent. And in Sydney, the ASX two hundred down seven tenths of one percent. Global news twenty four hours a day on air at a tick tock on Twitter, powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. This is Bloomberg. League. Oil continued its losing streak today as prices headed for a bear market for more on the recent drops in oil, Bloomberg Joseph Gumilla, Elden spoke with I h s market. Vice chairman Daniel Yergin initial analysis of what OPEC pluses king to do in terms of taking oil off of this market. And what extent you've been caught by surprise about how weak demand appears to be.

Bloomberg Bloomberg Joseph Gumilla Bloomberg interactive brokers Bloomberg world US Barbara Kusak Jay Powell fed PG parliament Daniel Yergin OPEC Vice chairman Doug krizner Twitter CEO California Ed Baxter
"michael corvette" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:22 min | 2 years ago

"michael corvette" Discussed on Bloomberg Radio New York

"Bloomberg best Bloomberg best is about the insight and the context get from our guests. It's a great way to catch up on some of the stories. You might have missed on the Bloomberg stories, you're not going to find in any other news organization. Bloomberg best. Bloomberg's best stories of the day powered by twenty seven hundred journalists and analysts in more than one hundred twenty countries around the world from the Bloomberg interactive brokers studio, I'm Ed Baxter on this edition of Bloomberg. Best for Wednesday, November fourteenth city you'll Michael corvette on global banking. We tend to operate with fairly large companies US global multinational companies, and I would argue that their balance sheets are in pretty good shape. And then you're gonna discusses the price of oil. It looks like actually market point of view more manageable than it looked a couple of months ago when there was a lot of anxiety. And that's why among other reasons prices zipped up eighty six dollars all this and more coming up in the next hour of Bloomberg best. First. Let's check the markets and some of today's top business stories. I'm Charlie Pellett. Stocks fell for a fifth straight day as investors remained on edge amid ongoing concerns over trade political turmoil and economic growth, and we are just about fifty minutes away from remarks from fed chair. Jay Powell remarks, you will be hearing live here on Bloomberg radio. Randy Federick is vice president of trading and derivatives are Charles Schwab think there's no question that he will continue to be optimistic about the economy saying that rate hikes need to continue. And I think he's also in a tough spot because President Trump has been pressuring him. He has to try very hard to not look like he's being influenced and Jim Bianco is the president and founder of Bianco research. That's part of the problem with the Federal Reserve's communication is that we have to, you know, look at the white and black puffs of smoke that come out of them and trying to terp it it, and it's there it's the way that they do it. I Paul's a little bit more plainspoken, and he's trying to fix that. But they still have a ways to go industry. Data suggests rising interest rates are taking a toll on the housing market. And with more. Here's Bloomberg's Vinny Del Giudice mortgage applications for the third week in a row under Dan by more than eleven percent since the start of the year. The Federal Reserve has been lifting interest rates to guard against inflation will probably keep tightening into the new year the average rate and a thirty year fixed mortgage just top five percents since the beginning of Tober any del Giudice, Bloomberg radio after the bowel Cisco systems gave an in line forecast for the current quarter, signaling confidence in continued corporate spending on computer infrastructure as some P five hundred index down twenty a drop of eight tenths of one percent. Dow Industrial's down two hundred seven points, a drop of eight tenths of one percent. Nasdaq down sixty four a decline of nine tenths of one percent. I'm Charlie Pellett. That's a Bloomberg business flash. Bloomberg. Best with that Baxter continues. Oil continued its losing streak today as prices headed for a bear market for more on the recent drops in oil. Bloomberg Joseph got meldons spoke with IHS market. Vice chairman Daniel Yergin, your initial analysis of what OPEC pluses came to do in terms of taking oil off of this market. And twenty percent you've been caught by surprise about how weak demand appears to be..

Bloomberg Bloomberg Joseph Bloomberg interactive brokers Federal Reserve Charlie Pellett Ed Baxter US president and founder Vinny Del Giudice President Trump Charles Schwab Jay Powell Jim Bianco vice president Vice chairman del Giudice Michael corvette Randy Federick Daniel Yergin
"michael corvette" Discussed on The Lead with Jake Tapper

The Lead with Jake Tapper

02:02 min | 3 years ago

"michael corvette" Discussed on The Lead with Jake Tapper

"He was advising the administration according to a cnn source familiar with those conversations it was also talking about a possible role with the white house that was discussed though it was never though it never materialized in november two thousand seventeen after all these meetings kushner companies was given at one hundred eighty four million dollar loan by apollo global management that loan is three times the size of their average property loan according to the times in addition citi group lent kushner companies in one of its partners three hundred twenty five million dollars for a different project alone may last spring after which kushner met with citi group chief executive michael corvette a spokesman for apollo said the loan went through the standard approval process citigroup says it see it was not involved in the transaction and never discussed it with jared kushner a spokesman for kushner's attorney told cnn quote mr kushner has met with hundreds of business people during the campaign transition and indeed ministration to hear ideas about improving the american economy he has added role in the kushner companies since joining the government and is taken no part of any business loans or projects with or for the companies after that we should note kushner remains part owner of the company that got the loan from apollo after he met with the head of apollo in his official white house capacity and jared kushner owns a stake in the entity that got the loan from citi group after which he met with the ceo of citigroup in his capacity as a white house official now this report is just the latest calling into question kushner's ability to function in his position as senior advisor but sources tell cnn kushner is planning to stay and the white house reaffirmed that the president wants him to let's go now to cnn's pamela brown family we've seen many tumultuous weeks at this white house is there any sense among allies of president trump this time all the tumbled everything going on with jeff sessions with the market today with jared kushner with hope.

"michael corvette" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:26 min | 3 years ago

"michael corvette" Discussed on Bloomberg Radio New York

"The company's corporate image barclays chief executive jess daly is warning investors and business leaders that the mood at this year's world economic forum in davos is too similar to two thousand six when everyone thought there would never be another financial crisis he spoke about how to prevent the next financial meltdown with bloomberg's tom keene along with citigroup ceo michael corvette and harvard professor can rogoff calamity will leave this the last financial crisis in the damage that was done globally and i do think one thing that is different this time that we need to utilize i think the the connec 70 in the collaboration between regulators and academics and and and publicly firm an an investment firms and banks is that a whole nother level them than it was precrisis you go back in two thousand five thousand six bank would meet with the fed may be once every quarter uh uh today we have the the bank has been the pera aiding fca there in the bank every day in the british june this matter a more focused i'm going to call i think in both sides of the atlantic the degree of integration or or or work between the regulators and the banking community not only to fix what happened last time but now i think as most of the corrections through bank regulations have occurred it really is we need to work collaboratively with our regulators to witness crisis he'll on one level clean two thousand eight an an an and as an on the regulators were there just bear witness in it's something went on they would use their abilities to bring the big bang inordinate something in order to shut up uh course correct the economy uh realtime today the deep political body have told the regulators i want you to regulate the systems distressed after what not so you avoid the next financial crisis ill my some almost two years clear finance we never whether the next financial crisis it's so and so i think is incumbent upon banks and firms and academics is to work collaboratively with regulators triglav wanted the next financial crisis because lightly so the political cost of the banks have endured because of what happen 10 10 years ago been very high so i do think we all need to sit down and forums like this and.

jess daly davos financial crisis bloomberg tom keene ceo professor fed barclays chief executive citigroup michael corvette harvard 10 10 years two years
"michael corvette" Discussed on WAFS Biz 1190

WAFS Biz 1190

02:00 min | 3 years ago

"michael corvette" Discussed on WAFS Biz 1190

"With barclays ceo jess daily plus over ceo dara class were shot he explains how he's rehabilitating the company's corporate image barclays chief executive jess daly is warning investors and business leaders that the mood at this year's world economic forum in davos is too similar to two thousand six when everyone thought there would never be another financial crisis he spoke about how to prevent the next financial meltdown with bloomberg's tom keene along with citigroup ceo michael corvette and harvard professor can rogoff calamity financial crisis than that and the damage that was done globally and i do think one thing that is different this time that we need to utilize i think the the can activity in the collaboration between regulators and academics and and and publicly firms and investment firms and banks is that a whole nother level them than it was free classes you go back to two thousand five thousand six a bank would meet with the fed may be wants to three quarters uh uh today we have the bank of england in the iranian sea there in the bank every day this matter they leave a more focused i'm going to call think both sides of the atlantic the degree of integration or or or work between the regulators and the banking community not only to fix what happened last time but now i think as most of the corrections through bank regulations have occurred it really is we need the work elaborately with our regulators to what the next crisis he'll on one level pre two thousand eight as an an anti as an on the regulators what they're just to bear witness and if something went on they would use their ability to bring the big bang inordinate something in order todd of course correct the economy realtime today the deep political body have told the regulators i want you to regulate the systems the.

barclays dara class jess daly davos financial crisis bloomberg tom keene ceo professor fed chief executive citigroup michael corvette harvard rogoff bank of england three quarters
"michael corvette" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:58 min | 3 years ago

"michael corvette" Discussed on Bloomberg Radio New York

"Davos with barkley ceo jess daily plus over ceo dara costs were shot he explains how he's rehabilitating the company's corporate image barclays chief executive jess daly is warning investors and business leaders that the mood at this year's world economic forum in davos is too similar to two thousand six when everyone thought there would never be another financial crisis he spoke about how to prevent the next financial meltdown with bloomberg's tom keene along with citigroup ceo michael corvette and harvard professor can rogoff willy list the last financial crisis in the damage that was done globally and i do think one thing that is different this time that we need to utilize i think the the connec 70 in the collaboration between regulators and academics and and and publicly firm and investment firms and banks is that a whole nother level them than it was freak license uh you go back to two thousand five thousand six a bank would meet with the fed may be once every quarter uh um today we have the bank that's been the tran fca there in the bank every day this matter they leave a more focused on a colon center i think in both sides of the atlantic the degree of integration or or or work between the regulators and the banking community not only to fix what happened last time but now i think as most of the corrections through bank regulators have occurred it really is we need the work collaboratively with our regulators to witness crisis he'll on one level pre two thousand eight an an an and as an on the regulators would there just bear witness and if something went on they would use their ability to bring the big bang inordinate something in order to conduct a course correct the economy uh real time today the deep political body have pulled the.

fed harvard michael corvette citigroup chief executive dara barkley real time bank regulators barclays professor ceo tom keene bloomberg financial crisis davos jess daly
"michael corvette" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:47 min | 3 years ago

"michael corvette" Discussed on Bloomberg Radio New York

"With barkley ceo jess daily plus oversight yo dara costs were shot he explains how he's rehabilitating the company's corporate image barclays chief executive jess daly is warning investors and business leaders that the mood at this year's world economic forum in davos is too similar to two thousand six when everyone thought there would never be another financial crisis he spoke about how to prevent the next financial meltdown with bloomberg's tom keene along with citigroup ceo michael corvette and harvard professor can rogoff economic calamity willie lift the last financial crisis in the damage that was done globally and i do think one thing that is different this time that we need to utilize um i think the the can activity in the collaboration between regulators and academics and and and publicly firm and investment firms and banks is that a whole nother level them than it was precrisis uh you go back to two thousand five thousand six a bank would meet with the fed may be once three quarters uh um today we have the banking system that the iranian theory there in the bank every day in the british doing this better they have a more focused i'm going to call on i think in both sides of the atlantic the degree of integration or or or work between the regulators and the banking community not only to fix what happened last time but now i think as most of the corrections through bank regulations have occurred it really is we need the work elaborately with our regulators to witness crisis he'll on one level pre two thousand eight an an an anti as an eye on the regulators what they're just bear witness and if something went on they would use their ability to bring.

fed british willie harvard michael corvette citigroup chief executive barkley banking system barclays professor ceo tom keene bloomberg financial crisis davos jess daly once three quarters
"michael corvette" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:09 min | 3 years ago

"michael corvette" Discussed on Bloomberg Radio New York

"Four dollars ten cents to thirteen thirty six an ounce the euro hundred dollar 22 forty two the yen one ten point six two and bitcoin this morning is up sixtenths percent at ten thousand four hundred nineteen dollars that's a bloomberg business flash now here's michael barr with more on what's going on around the world michael jurado strolled earthquake is prompted a warning for the southern coast of alaska and the west coast of canada according to the us geological survey two quake registered at a magnitude seven point nine about one hundred seventy five miles southeast off the coast of kodiak alaska officials in kota yarka warned residents to evacuate if it live in a low lying areas people on social media say they felt the quake hundreds of miles away in anchorage president trump signed off with a measure to end the threeday government shutdown in sports in the nhl the devil's were shut out by the red wings the islanders lost in overtime to the guy on his in the nba wizards lost global news 24 hours a day powered by more than twenty seven under journalist the matt almost it more than 120 countries i'm michael barr this is bloomberg bob michael the world economic forum is underway in davos switzerland we'll be bringing you interviews from the that whole week beginning this morning haunts ago bloomberg surveillance host tom keene hosted a pal with barkley ceo just steely citigroup ceo michael corvette harvard economics professor kenneth rogoff and many others and a second listen now to some of that conversation with professor rogoff bergeron right now claim of your workman carmen reiner this times do you feel that now is the time is i mean i feel i feel we're still coming out of the last ice does it the systemic as the slightly experience as a long after alive and taking a two ten years to fully recover is not unusual and i i must say a lot of the talked about secular sect nathan astle network good again conflate genuine essex like demographic a kibiti with on the.

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"michael corvette" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:03 min | 3 years ago

"michael corvette" Discussed on Bloomberg Radio New York

"Charts writer at bloomberg news contributor to the mlive have a blog of course a do sign up for his his email daily email reminded state how we do that by sending me an email go he's you know he will soon at bloomberg that net that's d wilson bloomberg dot net and as for the banks the means story there is really their ability to offset weakness in there arab trading business jp morgan for example with a third quarter trading revenue drop of twenty one percent just a bit more than ceo jamie diamond forecast last month the same time they had growth in corporate loans the highest lending margins since 2013 and record profit in asset management at citigroup you had revenue beating analysts estimates in a bloomberg survey partly because of the game from selling a bond analytics business in cities expenses dropped two percent as ceo michael corvette push measures to keep a lid on spending and as you mentioned david both those stocks higher in early trading at t though downwind and a half percent the company lost ninety thousand video subscribers in the third quarter because of heavy competition and weatherrelated disruptions the drop more than offset growth of a new online television service called direct tv now which actually added three hundred thousand subscribers in the quarter general motors down two percent the automaker said it reached an impasse with striking workers at a canadian plant the factory makes these chevrolet equinoxes sport utility vehicle and gm said it's looking at other locations to handle production viacom's down four percent the owner of mtv nickelodeon in other cable channels warned charter communications customer that they may soon lose its programming by a comes said it would cut off the channels of a contract dispute is resolved by this weekend you've got juniper networks down five and a half percent the networking equipment maker coming in with.

writer bloomberg jp morgan citigroup general motors gm viacom mtv nickelodeon bloomberg news ceo jamie diamond michael corvette david two percent twenty one percent four percent
"michael corvette" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:05 min | 4 years ago

"michael corvette" Discussed on Bloomberg Radio New York

"To the california a group of people mike mayo your fiery ian impassioned in let's get right to the house of mr hor back people have been waiting and waiting why now and citibank so we expect citi group stock to double the next four to five years that's partly because of what michael corvette ceo and citi group has done and it's partly because of what we think they should do what citi group is done is they've reduction reduced structural risk permanent riskreduction it citi group to probably the lowest level that i've seen since the merger with travel this and that through the stock beta you're going to see the biggest reduction the stock beta the biggest reduction in the costs of capital and the biggest reduction in risk premium for any bank stock iran how much is citi group like cindy wiles citi group is a completely moved on from the wild years it so much moved joint both number one group can concentrate on being a large bank and optimizing what they have no more big bank mergers and night ernest if you never say never with mergers but the big mergers the merger after merger it took sake group you know like a decade and a half to integrate these acquisition taxi citi group had something called project rainbow which is creating wind global consumer platform they finally finished that last year and that's didn't back from the early part of last decade was sandy wiles acquisitions that's one number two would be the credit risk citi group has a lot more prime lending and super prime lending a whole lot less subprime lending us some of that was put in the books after sandy weill left for sure but i'd say in terms of the credit risk the overall risk profile of the firm acquisitions risk is a lot less at citigroup and over the next five years we expect citi group to buy back one third of its shares and the only thing that prevents them from doing that is messing up says long as they don't blow a big hole in your balance sheets long as they don't now trip on the way to.

california the house ceo bank mergers citi group sandy weill mike mayo ian citibank michael corvette iran ernest five years
"michael corvette" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:32 min | 4 years ago

"michael corvette" Discussed on Bloomberg Radio New York

"Percent the restaurant chain second quarter results topped estimates us sales at stores open more than a year samestore sales rose more than analysts expected thanks to drink deals and new items and then you have the declines among the dow stock three m law lower by two percent second quarter profit and sales were just below the average estimate now three 'em raise the low end of their earnings forecasts rates for the year the midpoint though trailed the average projection united technologies is down one percent their second quarter results were just fine problem is the jet engine makers talking about second half earnings being lower than the first half when they discussed the results on a conference calls that didn't go over so well beyond the dow you've got citigroup up two and a half percent the banks holding its first investor meeting since two thousand eight financial crisis ceo michael corvette 70s may reach twenty billion dollars by 2020 up from last year's four eighteen point six billion dollars biogen's higher by four percent their second quarter results beat projections have benefit from surging demand for spin rods it's the first drug to treat a rare disease called spinal muscular atrophy general motors down half a percent secondquarter revenue estimates as the automaker shunned discount sales to rental car companies gm focused on more profitable deliveries to us consumers and a few stocks with bigger losses after earnings you've got the hospital owner ahca health care down four and a half percent the advertising agency owner inter public group down seven percent and the.

citigroup ceo advertising agency public group dow financial crisis michael corvette spinal muscular atrophy rental car gm twenty billion dollars six billion dollars seven percent four percent one percent two percent three m
"michael corvette" Discussed on FT Banking Weekly

FT Banking Weekly

01:31 min | 4 years ago

"michael corvette" Discussed on FT Banking Weekly

"I think that one versus two year probably not a major issue for anybody know positions take time in in many businesses end in traditional commercial banking businesses it takes while to build up a positions i think that relaxing the parameters of a tasked could potentially be negative and you know the the question that again a tradeoff that people are considering there is how to conduct the test and whether or not to include some of the large capital buffers some larger banks have to include so how that tradeoff gets managed again we will need to see the detail of that for us to be able to react but our basic principle is stressed as he has been uh real contributor to the safety and soundness of the banking system that we see today but wall street doesn't necessarily see it that way the lower the equity of the hundreds on the neck with you which is the higher the right of bonuses they could paint you know it's very clear that some banks are earning over there kosta capital but not many and some really have work to do there and some have been pretty transparent about it i mean if you look at the first quarter results uh citi group and bank of america were still trading slightly below book value of some of the european banks are trading below book value there's a few banks that our treaty above and you know some have been pretty transparent about it to you you know michael corvette chief a city group has said.

banking system citi group bank of america michael corvette two year