Sending shares higher. Ocado shares spike as the online retailer offers a tie up to grow its ecommerce business. And socgen says it will close about 15 of its banks as the french bank looks to cut costs. Well speak to the cfo at 14 00 cet. The uks largest lenders passed stress testing with flying colors. The bank of england indicated none of the banks it tested needed to raise additional capital. Rbs and barclays who fell short last year boosted capital to a sufficient level the bank of england also said banks could withstand a disorderly brexit, but governor mark carney hoped for a transition agreement soon. The time of achieving a transition agreement, the sooner the better i wont put an end date on it. Any transition period will be valuable we signaled back in june of this year some major risks around derivatives, around insurance, around data, around other aspects of the Financial System, these crosscutting issues, we provided weve done a lot of work since then and provided conside
Let us quickly check on the markets. Quite a lot going on. I am looking at the stoxx 600 in europe which is gaining a touch on the backs of gains in Energy Companies and a bullish outlook from one of the sectors bellwether. Looking at the dollar. And the fed and what we will hear from powell. Therude oil including impact of the opec meeting. We need to wait a little more to see how long we will cut production. A lineup our lineup today is looking pretty good. We feature some of the top names in banking and economics including Tidjane Thiam. We speak strategy and outlook on the Global Economy. And jim oneill. He speaks u. K. And emerging markets. Later, we will also speak with John Studzinski from blackstone. Let us get straight to the bloomberg first word news. Nejra in the u. S. , the Senate Tax Bill is headed for a debate. Should it pass, Republican Leaders will have to hammer out a compromise. Two republican members of the senate what your say they may not agree to vote the measure
Higher by 0. 3 or greater. Look at the nasdaq. It has been a little more beatendown but today up more than 0. 5 . The best day from the nasdaq since november 30. Perhaps investors are feeling a little more certain around tax reform, d. C. Drama and more. One stock that is helping the indexes today we will be getting to in a moment. This seems to be a continuation of the trump trade. Here is this stock, General Electric is up nearly 0. 9 . This is after the Industrial Company announced they are cutting 12,000 jobs within their power unit. That is the biggest unit within their business, about 30 of the business. It is also the most troubled unit. The fact that they are flushing out the plan they gave back on november 13 to cut 1 billion in cost by cutting these jobs, investors seem to be cheering it to some degree thinking it is a solid first step in the turnaround plan. Shares on the year down more for theiron peak worst year since 2008. The industrial sector is the top on the day. Ge,
Rishaad a day of optimism. Record highs again for the big three. We will go into detail on the little later. This is an ultimate trading week of the year. We are malaysia, taipei, singapore, all starting the session. Positivity being the watchword. Sophie it is the watchword, indeed. Climbing in sydney, singapore, but malaysia is coming online in the red, down. 5 . Take a look at the big picture. We have bonds on the retreat. Currencies are mixed. Gameng on to last weeks gain. The korean won is leading gains. Is sticking and a narrow range. Japanese stock is fluctuating this morning. Cindy shares headed for the strongest growth since january 2008. Little change after the rba meeting minutes. Seeing we could also be we have not seen these levels since 1991. Sophie when you take a look at the big picture, when you take a look at the japanese equity contribution to the regional index, that will help fuel the fire for the regional benchmark to surpass last months record. When you take up t
Cspan, where history unfos daily. In 1979 cspan was created as a Public Service by americas cabletelevision companies and is brought to you today by your cable or satellite provider. Up next an official with the International Energy agency on the future of coal. His organization is forecasting decreasing coal usage as use of Renewable Energy continues to increase. From the center for strategic and International Studies, this is about an hour and 15 minutes. Good afternoon my name is jane, and senior fellow with csis National Security program. Its my great honor to welcome peter fraser who is the head of gas coal in Power Markets Division for the International Energy agency based in paris. He is here to launch the call 2017 analysis and forecast of 2022, thats the thats the name of the publication. Cole has been the world dominant fuel for more than a century but its the future use has been under quite a bit of scrutiny today. The power sector, certainly i guess robust deployment of ren