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This is -- Imus in the morning.
On the -- -- I everybody did better earnings -- from Citigroup now on the bank is reporting an adjusted profit.
Of a dollar a share that's compared to the estimate for 89 cents a share revenue came in at 1717.
The revenue estimate there was for eighteen point 76 billion dollars.
We're getting that revenue number.
As it comes in right now the Justice Department we -- my -- meanwhile is reportedly building criminal cases against several big banks and their employees in connection with the Libor scandal.
According to New York Times -- department has found potential criminal wrongdoing by the firm's.
In their investigation and charges against it.
At least one bank could come later this year mean on New York's attorney general Eric snyderman has revealed that he has his own investigation going.
In the rate rigging case -- along with Connecticut's attorney general George Jefferson started their investigation into the possible manipulation of Libor six months ago.
Over in Britain lawmakers there will -- Barclays former chief operating officer Jerry -- messier.
Over that banks' role in this scandal Barclays says -- messier told the staff the Bank of England had encouraged Barclays to cut Libor.
After misinterpreting a message from former CEO Bob Diamond.
This will mark the first time -- CA comments publicly on the matter since quitting the bank's two weeks ago.
Checking the markets now here in the US futures had been down across the board all morning we're now -- Dow futures down by 29.
The S and -- done by three in the nasdaq's down by five over in Europe stocks have been fluctuating today as mine it miners.
Take a hit following comments -- -- China concerning growth.
Stocks -- currently -- we saw read our us all morning announcing Monday an up and that same goes for Frankfurt there -- not by much while Paris is still down.
By three points and -- to get closer look at what's moving those European markets at rabobank international global head of financial markets research.
Down -- -- over London got harassing young.
They say the UK's economy should return to growth in the second half of this year -- falling inflation and more consumer spending how confident are you at -- happen.
Well we do have -- a full cost -- return to growth.
What is not overwhelming conference on displaying here in many ways UK economy being held hostage to what's happening in and the European mainland that.
And whether the crisis indeed we'll get worse before it gets better when that crisis could still be was sold in many -- the UK basks in the shadow here it's sort of phase.
Benefiting from the fact it is not Europe.
And therefore guilty of soft was a very low levels helped also by a Bank of England which has had no comps -- quantitative easing.
Very much juxtaposed to what the ECB is of course been taking as a more fundamental position which hasn't helped.
-- whole bond issuers.
Nearly as much as the UK treasury has so I think yes.
A recovery for a second half is in the cards.
But it's not a great recovery and it's in many ways beholden to what happens across upon that.
And -- ECB is now reported -- advocating imposing losses on holders of senior bonds issued by the most severely -- Spanish savings banks.
That's a reversal -- what the bank previously said it's also.
It didn't put them at odds with finance ministers so what's your take on that debate and how it affects this bank bailout her or any others for that matter.
-- a couple of angles on this first officer Beth Nielsen divergence from what they did in the prospect for example Ireland.
But senior bondholders were respect.
It is a bit of a surprise.
These negotiations have off -- already taken place the finance minister seem to be linking up to death saying listen -- -- to be on to that they're not signatories.
Agreement -- -- anyway this sort of seem to be be saying to BCB.
Back in your page on this -- police we did this is not an issue we should be concerning yourself with a little bit of irritation -- that of course -- -- of the border picture showing that coordination problems remain at the heart.
Well Fred those trying to look for resolution.
The debt crisis this taking a little bit of the lost the weight off was in in a way was an -- move at least on Spanish problems at least brought to move for once.
All right that's down -- -- young -- back I met a young live from London excellent.
And we want to reiterate those Citigroup earnings of banks reporting a profit adjusted profit of a dollar a share that beat the estimate for 89 cents.
There's also unadjusted revenue number coming in at eighteen point 64 billion dollars that -- -- -- For eighteen point 76 billion.
And you can see shares are higher in the premarket meanwhile CEO Vikram Pandit says the bank is aiming to hike its dividend for the first time since the financial crisis.
And until the UK Sunday telegraph he expects to start discussing the plan by the end of the year.
The bank currently pays a quarterly dividend of one cent a share Citigroup's results will kick off another busy week of earnings for the financials Goldman Sachs.
Is that with -- results tomorrow -- Bank of America -- report on Wednesday.
Followed by Morgan Stanley on Thursday Imus in the morning continues right now.
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