Hes leaving the company after nearly 30 years. Takes its truck business public use the money for electric Car Development is this the way forward for other comics. This is your business im in berlin welcome as the 20 leaders are gathering in. Japan one topic dominates above all of us trade and most importantly the dispute between china and the u. S. There is optimism dubbed u. S. Trade representative robert lighthouses said this week that and not that 90 percent of the deal was done and donald trump has so far refrained from provoking the chinese on twitter on saturday he needs to chinese president xi jinping to see if any kind of breakthrough can be found. Getting the hellos out of the way but soon theyll be getting down to the real business of the weekend. Technology is a critical front in the ongoing us china trade conflict both nations see digital and technological supremacy essential to their economic futures the role of chinese firm weiwei and building 5 g. Networks and a u. S. L
Good afternoon from asia. Im Francine Lacqua in london. Stoxx 600 down. We are expecting more choppy trading on the back of the testimony this week from jay powell. Prospects after we had conflicting signals from the world economy. 1. 12. Ollar coming up, paul the fx calls all the fx calls with david bloom. Tensions between japan and south korea are threatening to wallop much now depends on whether shinzo abe and moon jaein can work out a compromise. A cycle of measures and countermeasures would not be ideal for both countries but if south Korean Companies begin experiencing actual damage, the government would have no choice but to respond as necessary. I hope it does not come to that and we urge japan to withdraw its measures. Greece primenew minister has a new finance minister. One of the first tasks will be to renegotiate. Epstein being held at a Correctional Center in new york as he awaits a bail hearing on charges of sex trafficking and conspiracy. The charges include sex acts 14,
Lets get a check in on the markets. European equities are pretty flat. The stoxx 600 struggling for direction. You heard and the headlines, three key things we heard. The dovish message from Jerome Powell reiterated and we got better than expected data in terms of retail sales and factory output, pushing the 10 year yield up. It also pushed the dollar higher and we hold on to those gains. The question as whether President Trump can have the weaker dollar at the same time as a strong economy. And can he have gains in stocks as the same time as a trade war continues . As you made those comments, the s p 500 took a hit, dropping for the first time in six sessions. Coming up, we speak to the oecd secretarygeneral. Dont miss that interview live. Lets get bloomberg first workers. Word news. The u. S. House voted to condemn comments from donald trump that are racist. Week, he tweeted for congresswoman should quote go back to where they came from. Trump says he is not racist and does not have
And gilt yields higher. The soft july u. S. Inflation print sees the highest week as markets now decide the fed is all but done with hiking rates. And x corps Linda Yaccarino has full autonomy and tells cnbc in the exclusive interview that major advertisers are returning to the platform. As we go through the plan that it stuck with us and brands coming back. Are they coming back . Cocacola, visa, state farm c theyre coming back. Good morning welcome to street signs. It is friday im going to bring you breaking news that we have from the monthly report this is the oil report ill bring you the major headlines which have come through. Mainly the iea says Global Oil Demand is still set to expand by 2. 2 Million Barrels a day in 2023 that is steady from the previous forecast World Oil Demand will hit a record 103 Million Barrels per day in june and august could see another peak that is interesting. They have, however, lowered the 2024 Global Oil Demand forecast to 1 Million Barrels per day t
let s now get down to business and the drama that let s now get down to business and the drama that has let s now get down to business and the drama that has been unfolding over the weekend in switzerland is dominating once again. they ve had fraught negotiations as the authorities, the central bank and leaders of two of its biggest banks tried to reach a deal to prevent another damaging financial crisis. late on sunday it was announced. the troubled bank credit suisse has been taken over by its rival ubs in a government backed rescue worth over $3.1 billion. that s less than half the value of credit suisse at the close of trade on friday. the deal s been widely welcomed, including by the bank of england, the european central bank and in the us. switzerland s central bank wanted to prioritise financial stability and protect the swiss economy. here s the chief executive of ubs. translation: it means we bring back stability translation: it means we bring back stability and