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At the same time, we generated more capital through earnings. Thats why are ratio is 12. 5 . Talk to me about the merging of the two units. What is the reasoning behind that . The Investment Bank merger is something weve been discussing for months. Even my predecessor, it was already a topic. 2015, clearlyn the two had to be separated. We had to restructure the trading business. Are at a stage or we can put them back together again. Most of our competitors have it anyway. This is not a cost exercise. There will be some cost benefits. Its really about having one overriding business to have one Investment Bank globally, one equities business. A Global Trading solution business, which build on our success. It serves our equity, fixed income, transactional business for the private bank and institutional business. How diffi ....
Francine welcome to the pulse or call the pulse. Super thursday has been dubbed the thursday of the year. The bank of england is said to publish a slew of data. The boe decision minute of it meeting are being released at lunchtime as the governor mark carney works to improve transparency. In this torrent of data, how many members are we expecting to call for an Interest Rate hike . That is the big question. The majority of economists do expect a split in the vote. There are nine members. 19 of the 20 economists surveyed by bloomberg expect if it expect a split. More than half expect to members to vote for decision. We have seen some vote for tighter policy, they dropped that in january when they all inflation fall. They will be closely watching to see of any others vote. Francine the strength of the currency is also compensating things for the governor. Absolutely. This is a tight rope he will have to walk as he delivers his press ....
Francine welcome to the pulse. I am francine lacqua. Manus i am manus cranny. Next 40 course of the minutes, we are joined by unicredit chief, it is erik nilsson in the house. Francine first, china stocks posted the biggest two day climb. Manus it rallied on news the government is considering shipping two major companies. Francine after data shows a large drop in it worse last month with the steepest decline in nearly six years. Curranef economist enda joins us. What do the figures tell us about economy . Enda curran a very soft reading. Some of chinas biggest customers. Illustrate how soft chinas economy is when you strip away the impact of the big stockmarket boom we had in the second quarter. Left with a lot of sluggish areas like manufacturing and factories and real estate sector. Car sales falling for the first time in 17 years. To one ofn on exports the big engines of growth for china. Into the second half of the year, pretty sluggish outlook right now. Manus lets talk about the ....
We have steve ratner, who is with us often. He is one of the advisors. He is about to come here by himself in front of the committee on the tactical issue. We have a lot coming up. On the tax reform issue. We have a lot coming up. Similar story for stoxx 600, down by 3 10. Removing the currency market has truly been unbelievable. 1 buildingr 1. 1 on the rally we saw yesterday. Fourar yield now back by basis point. This is your safety check. Dollaryen down 6 10 of 1 . 112, a huge move. Oil trading on its own fundamentals up 3 10 of 1 . David thank you very much. We will set the stage now. We go to our chief washington correspondent, who is across town. Lets start with the facts. It is fair to say washington was rocked yesterday with this report that supposedly President Trump encouraged fbi director to stop the investigation into flynn. What do we know . Kevin it has been such a busy morning that i have not been able to get to the ....