There is a lot of volatility in the market. We have seen that actually over the last weeks and months. Whenever something is supposed to be there, market is reacting.Uh in our books, I can tell you no, there is no deterioration. Um we have actually we're very confident with our credit portfolio. um and that across the world whether it's in Germany whether it's in Europe uh whether it's in the US um in the different asset classes corporate bank private bank um and and in this regard um I I think the market i ...

Fiscal Policy & Economic Outlook - The UK government faces a challenging budget season with potential tax increases and spending cuts [1] - The government aims to meet fiscal rules, reduce debt as a share of the economy, and balance day-to-day spending with tax receipts [2] - The government acknowledges global economic pressures including conflict in the Middle East, Russia's aggression in Ukraine, higher defense spending, and increasing trade barriers [2] - The government recognizes the need for a buffer to absorb economic shocks, but building more headroom requires further tax increases or spending cuts [4] - The Independent Office for Budget Responsibility (OBR) will provide forecasts, and the government aims to exceed those expectations through policies on trade, investment, planning, and capital market reform [3][14][15] Taxation & Investment - The government increased taxes on the wealthiest individuals and businesses in the previous year [5] - The government aims to create a pro-growth budget that attracts and retains talent and encourages business growth and investment in the UK [6] - The government has secured significant foreign direct investment, including from US technology companies [7] - The government has made changes to tax arrangements for non-domiciled individuals [8] - The government doubled the number of visas available for high net worth individuals, entrepreneurs, and academics in growth sectors [9] Welfare & Employment - The government emphasizes the importance of managing welfare budgets and reforming the welfare system [10] - The government has implemented changes to the universal credit system to reduce incentives related to health-related elements [11] - The government announced a youth guarantee to help young people not in education, employment, and training get back into work [11] - The government is addressing challenges in youth unemployment and inactivity with targeted programs [12]

Labor Market & Economic Impact - Foreign worker program is essential for the Japanese economy [1] - Program is criticized for being a backdoor to secure cheap labor [1] Human Rights & Ethical Concerns - Program does not allow foreign workers to bring family members [1] - Cases reported of trainees' passports being taken away to prevent them from running away [1]

The crypto market is buzzing with anticipation for the next spot crypto ETFs. Will Salana and XRP ETFs follow in Bitcoin's footsteps. Or will the altcoin ETF effect prove to be fundamentally different.Two recent SEC decisions should lead to a wave of new ETFs with Salana and XRP widely expected to be approved. The approvals would mark the SEC's most significant embrace of crypto products since signing off on spot Bitcoin and Ethereum ETFs back in 2024. So, will Salana and XRP follow in Bitcoin's footsteps.T ...

Crude forecasts project further softening for crude oil. WTI crude oil prices have fallen from above $80 per barrel in early 2025 to the $6070 range adid OPEC plus production hikes, rising nonopc supply and softening global demand. This decline reflects broader market dynamics, including economic uncertainties and inventory builds with forecast suggesting further pressure into Q4 2025 and 2026.OPEC Plus began gradually unwinding voluntary production cuts in April 2025 with plans to add over 2.2% million bar ...

US Regional Banks Concerns - The market is worried about the timing and trends related to US regional banks, particularly after credit blow-ups [1][2] - Concerns exist regarding bad lending standards and untrustworthy borrowers, potentially indicating more hidden issues [2][3] - The value of collateral is being questioned, raising doubts about loan quality and the overall state of the US economy [3][4] - Memories of past struggles of regional banks, such as City Bank and Silicon Valley Bank, are contributing to current anxieties [4] Market Reactions and Gold - Mistrust in the US financial system is driving gold prices up, influencing Treasury yields and expectations of Fed rate cuts [5] - Central bank action or positive news from regional banks could quickly reassure the market [6] - Gold's price seems impervious to market concerns, driven by both haven demand and speculative frenzy [7] - Retail investors globally are actively trading gold, maintaining its upward momentum [8][9] - Increased gold jewelry demand in Asia, particularly in India, is contributing to the price surge [9] - A Japanese retail bank has run out of gold bars to sell, indicating strong retail demand [9]

Takeover Bid & Shareholder Decision - Sabadell shareholders decided against the takeover bid, which BBVA fully accepts [2][3] - Retail shareholder behavior might have been influenced by expectations of a second cash offer [2] - Passive funds might not have tendered as expected [3] Strategic Plan & Financial Performance - BBVA has been delivering record results with a 30% annual net travel profit growth rate over the past three years [9] - BBVA is growing market share across different segments in Spain, with a 6% annual loan book growth rate in the last 12 months [10] - BBVA approved an ambitious strategic plan with goals for 2025-2028, including a 22% return on tangible equity and a 15% annual increase in tangible book value [11] - BBVA aims for a net attributable profit of $48 billion to maintain its lead in the European banking sector [11] Capital Return & Shareholder Value - The lapsing of the Sabadell takeover bid removes restrictions on shareholder distributions, leading to an immediate acceleration of capital return [12] - BBVA will start a €1 billion share buyback on October 31st, along with an interim dividend payout, totaling €28 billion [13] - BBVA plans a sizeable new share buyback program pending ECB approval [14] - Since the current chairman took office, shareholders have multiplied their value by five, exceeding European peers' 33% multiple [18] Future Strategy & Leadership - BBVA is now focused on executing its strategic plan based on organic growth and returning excess capital above the 12% target to shareholders, not on M&A [16][17] - The current chairman intends to continue leading BBVA with the full backing of the board and management team [17][19]

TOM: GOOD MORNING. THIS IS BLOOMBERG DAYBREAK EUROPE. HAPPY FRIDAY.I’M TOM MACKENZIE. A GAUGE OF U.S. REGIONAL BANKS PLUNGED MORE THAN 6%. THE FEARS OUTWEIGH NEWS OF TARIFF RELIEF FOR THE COUNTRY’S AUTO INDUSTRY.MEANWHILE THE U.S. PRESIDENT IS SET TO HOST UKRAINE’S VOLODYMYR ZELENSKY AFTER A SECOND MEETING WITH VLADIMIR PUTIN. THE SPANISH BANK IS OFF AFTER SHAREHOLDERS SAY NO. BLOOMBERG HAS THE FIRST INTERVIEW WITH THE BBVA CHAIRMAN LATER THIS MORNING.♪ TOM: IT IS RISK OFF ACROSS THE GLOBAL EQUITY MARKETS A ...

JOUMANNA: THIS IS HORIZONS MIDDLE EAST & AFRICA, TOP STORIES IS MORNING. PRESIDENT TRUMP AND PUTIN SET TO MEET IN BUDAPEST TO DISCUSS ENDING THE WAR IN UKRAINE. UKRAINE'S VOLODYMYR ZELENSKYY WILL MEET THE U.S. PRESIDENT TODAY AT THE WHITE HOUSE.GROWING CONCERN AT THE U.S. CREDIT MARKET WEIGHS ON WALL STREET IS TO REGIONAL LENDERS DISCLOSE LOAN FRAUD LOSSES. CHINESE EV MAKER BYD IS WRAPPING UP ITS GLOBAL EXPANSION, TARGETING SOUTH AFRICA FOR GROWTH. IT HAS JUST GONE 8:00 A.M. ACROSS THE EMIRATES. I'M JOUMANN ...

IF THESE RECIPIENTS OF CHINESE GOODS FEEL THE HEAT, WE MAY STILL HAVE THE RISK OF A TRADE WAR MOVING FROM ONE PLACE TO ANOTHER, SO OUR MESSAGE TO EVERYBODY IS BECOME AN TO CHINA, BE CAREFUL. DO NOT PROVOKE OTHER COUNTRIES TO SEE YOU AS A THREAT. HASLINDA: THE IMF IS CALLING FOR CALM AND RESTRAINT AS BEIJING AND WASHINGTON TRADE SHARP BARBS, ESCALATING FEARS OF A DEEPENING TRADE WAR AND GLOBAL FALLOUT FROM TARIFFS.LIVE FROM SINGAPORE, THIS IS "INSIGHT" WITH HASLINDA AMIN WHERE WE DIVE DEEPER INTO STORIES THA ...