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May 20, 2014
05/14
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LINKTV
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c,ench credit agricole, hsb and j.p. morgan chase. the european commission charges them with rigging a key benchmark known as eurobor. the rate is used to set interest rates on financial products worth trillions of euros, including car loans and mortgages. the commission says the lenders have to answer allegations they colluded to boost trading products -- profits. >> if confirmed, such behavior would be a breach of our antitrust rules that prohibit cartels. we would look at all the arguments before taking any final decision. hsbc say they and will defend themselves vigorously against charges. agricole says it wants to take a closer look before they decide what to do next. if found guilty, they could face fines of up to 10% of annual revenue. it is a story to watch. another story we have been watching for you. russia has failed to reach an agreement on tuesday that would see it supply gas to china. there were question hopes of reaching a deal during a visit by president putin to shanghai, but a spokesman for the prime minister says th
c,ench credit agricole, hsb and j.p. morgan chase. the european commission charges them with rigging a key benchmark known as eurobor. the rate is used to set interest rates on financial products worth trillions of euros, including car loans and mortgages. the commission says the lenders have to answer allegations they colluded to boost trading products -- profits. >> if confirmed, such behavior would be a breach of our antitrust rules that prohibit cartels. we would look at all the...
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May 21, 2014
05/14
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KICU
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hsbc intends a vigorous defense while credit agricole is studying the allegations. on tuesday, jp morgan shareholders approved pay packages for the bank's top executives. including jamie dimon who says he is staying put for the next 5 years at chase. the banks legal fines top $20 billion. medtronic's earnings are taking a hit due to a long running patent fight. shares tripped 2% yesterday. the medical device maker said it will pay a one time $750 million settlement to edward lifesciences, followed by annual royalty payments of 40 to 60 million dollars through 2022. the two companies which have been engaged in a nearly 6 year long dispute over a heart valve patent. president obama is striking up conversations with corporations about investing in america. tuesday, 11 executives from companies that have opened new plants and are creating jobs in the u.s. met with the president at the white house. we want to make sure we are doing everything we can to be responsive to that process and we are doing a better job coordinating both between agencies and also between the vari
hsbc intends a vigorous defense while credit agricole is studying the allegations. on tuesday, jp morgan shareholders approved pay packages for the bank's top executives. including jamie dimon who says he is staying put for the next 5 years at chase. the banks legal fines top $20 billion. medtronic's earnings are taking a hit due to a long running patent fight. shares tripped 2% yesterday. the medical device maker said it will pay a one time $750 million settlement to edward lifesciences,...
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May 21, 2014
05/14
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KQED
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jp morgan, hsbc, and french bank credit agricol face billions in fines if convicted of price -- fixing prices on derivatives linked to the so-called libor rate. >>> finally tonight, what will the u.s. military look like in 25 years? with the pentagon working with smaller budgets every year, will we see a smaller military force? in an industry that focuses more on computers and drones. jane wells takes a look at the future of defense. >> reporter: in 25 years u.s. military forces will have fewer men. >> we can throw it. >> reporter: more machines. it's one of the many trends which frank kendall must fund now. he is the man at the pentagon with the checkbook. sdroo i'm worried about our pipeline of new products. >> reporter: he says due to budget cuts, much of what we will see in 25 years is upgraded versions of what we have now. there will be some new programs for cyber defense, and he hopes to find money to protect our satellites. >> there is an attempt at least by some countries to build systs that would allow them to dominate space, to take out our assets. >> reporter: solutions incl
jp morgan, hsbc, and french bank credit agricol face billions in fines if convicted of price -- fixing prices on derivatives linked to the so-called libor rate. >>> finally tonight, what will the u.s. military look like in 25 years? with the pentagon working with smaller budgets every year, will we see a smaller military force? in an industry that focuses more on computers and drones. jane wells takes a look at the future of defense. >> reporter: in 25 years u.s. military forces...
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May 20, 2014
05/14
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BLOOMBERG
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agricole says they want to examine the complaint more closely. more top turnover at target. talking about the discounter replacing the head of the money-losing operations in canada. target named three new executives, vice president for merchandising, former ceo step down earlier this month. and warmer weather is finally bringing people out of their houses and into home depot. the nation's biggest home improvement chain says sales are rebounding in the second quarter. though estimates they will recoup the end of next month. o going public. they have filed for an ipo. daredevils can make it he owes. they said they will now position themselves as a media company. bringing in our senior west coast respondent, jon erlichman. what does that mean? >> we have one. my husband uses it when he goes skiing with my kids. active people. >> we use it when we are doing certain types of taping. >> i think you have two stories. one is that everyone uses gopro thethat shows up in numbers. they said they were in the process, and now they are giving us the goods, the financials. pretty good reve
agricole says they want to examine the complaint more closely. more top turnover at target. talking about the discounter replacing the head of the money-losing operations in canada. target named three new executives, vice president for merchandising, former ceo step down earlier this month. and warmer weather is finally bringing people out of their houses and into home depot. the nation's biggest home improvement chain says sales are rebounding in the second quarter. though estimates they will...
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May 20, 2014
05/14
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the european union is accusing jpmorgan, hsbc, and credit agricole of rate rigging. the three banks did not sign onto the settlement deal last year. it looks like the european union is charging formal charges as a result. over each region having fixed rates that everything is based off of. the rate rigging affects everyone out there. >> the subtlety of this
the european union is accusing jpmorgan, hsbc, and credit agricole of rate rigging. the three banks did not sign onto the settlement deal last year. it looks like the european union is charging formal charges as a result. over each region having fixed rates that everything is based off of. the rate rigging affects everyone out there. >> the subtlety of this
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May 20, 2014
05/14
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BLOOMBERG
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agricole weret also accused. taking on the ipad. microsoft is going to take on the ipad mini. satya nadella expected to unveil a smaller version of the today with a qualcomm processor. cory johnson is in new york. if you fail to make an ipad killer, try to make an ipad mini killer? >> go small or go home. microsoft has failed in the marketplace with the surface. the push of a push of a push and are trying to the corporate deals and big sales in a large institution. they are spending a fortune on marketing and getting this out there in the public eye. they are getting product placement and every possible tv show they can get it into. to make it seem like people are using it but in reality people are not. >> fundamentally is it not a good product? >> one of the things we see havening is market leaders this experience with certain apps and they want to stay with them. the product has not been as good as the ipass. i would not be surprised if microsoft catches up. their funds are fantastic but they have not caught on in the u.s. >> do they need to do more marketing? what is it tha
agricole weret also accused. taking on the ipad. microsoft is going to take on the ipad mini. satya nadella expected to unveil a smaller version of the today with a qualcomm processor. cory johnson is in new york. if you fail to make an ipad killer, try to make an ipad mini killer? >> go small or go home. microsoft has failed in the marketplace with the surface. the push of a push of a push and are trying to the corporate deals and big sales in a large institution. they are spending a...
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May 20, 2014
05/14
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BLOOMBERG
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the european union is accusing jpmorgan, hsbc, and credit agricole of rate rigging. the three banks did not sign onto the settlement deal last year. it looks like the european union is charging formal charges as a result. over each region having fixed rates that everything is based off of. the rate rigging affects everyone out there. thing isbtlety of this that the rate may have been manipulated lower, which at the surface says people are getting lower mortgages. but remember, it is a zero-sum game here. a continuing story. >> the three banks need to respond to the antitrust complaint in writing and at a hearing. >> let's get our morning brief. overnight, u.k. inflation accelerating faster than forecast on a higher airfares and shipping costs. that is a little bit in the weeds. no economic data to speak of in the u.s. earnings.number of >> home depot just reported. earnings per share is a little bit lighter than what analysts were looking for. nate -- net sales coming in a little bit light. analysts were looking for $20 billion. in terms of full-year forecast, it ter
the european union is accusing jpmorgan, hsbc, and credit agricole of rate rigging. the three banks did not sign onto the settlement deal last year. it looks like the european union is charging formal charges as a result. over each region having fixed rates that everything is based off of. the rate rigging affects everyone out there. thing isbtlety of this that the rate may have been manipulated lower, which at the surface says people are getting lower mortgages. but remember, it is a zero-sum...
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May 20, 2014
05/14
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CNBC
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european union antitrust regulators are charging hsbc, jpmorgan and credit agricole. that's what i remember from four years of latin. they charge these banks with rigging financial benchmarks linked to the euro, six other banks, were hit with a -- external aud i external audits found more than twice as many are found by accident than external audits. >> joining us right now is hank smith. he is chief investment officer at haverford investments and peter bookmar, a cnbc contributor. he's also with the lindsay group. you see t.i.n.a., what does that stand for? >> i took it from jason treanor. there is no alternative. that's the world we live in right now. no one wants cash at 0%. u.s. treasuries at 2.5%, no thank you. the german bund at 1.5%, no thank you. how about the italian ten-year at under 3%. a definite no thank you. it really brings you to equities. here we are, five years into a bull market, up 200% in magnitude. you can still find equities that yield better than bonds. it's remarkable but that's where the opportunity is. >> you think, though, we're due for a m
european union antitrust regulators are charging hsbc, jpmorgan and credit agricole. that's what i remember from four years of latin. they charge these banks with rigging financial benchmarks linked to the euro, six other banks, were hit with a -- external aud i external audits found more than twice as many are found by accident than external audits. >> joining us right now is hank smith. he is chief investment officer at haverford investments and peter bookmar, a cnbc contributor. he's...