Even the European Central bank. Instead, it was the Swiss National bank stunning currency markets around the world by removing the price ceiling on the swiss bank designed to keep its currency artificially low against the euro. That sent the value of the frank soaring and swiss stocks tumbling. Today, the frank at 1 point up about 20 when it was all said and done against the euro. Now, the defensive move comes ahead of an expected announcement from the Ecbs Mario Draghi next week of a massive euro zone quantitateive easing plan like one in the u. S. The past few years. That would weaken the euro sending investors flooding into the frank. Lisa boyason has more. Shes in zurich. Reporter a swiss shock. Theres simply no other way of describing what took place on the swiss markets. The Swiss National bank coming through and surprising everybody by deciding to scrap a cap thats been in place preventing the swiss frank from appreciating above a certain level towards the euro. At the same time
Even the European Central bank. Instead, it was the Swiss National bank stunning currency markets around the world by removing the price ceiling on the swiss bank designed to keep its currency artificially low against the euro. That sent the value of the frank soaring and swiss stocks tumbling. Today, the frank at 1 point up about 20 when it was all said and done against the euro. Now, the defensive move comes ahead of an expected announcement from the Ecbs Mario Draghi next week of a massive euro zone quantitateive easing plan like one in the u. S. The past few years. That would weaken the euro sending investors flooding into the frank. Lisa boyason has more. Shes in zurich. Reporter a swiss shock. Theres simply no other way of describing what took place on the swiss markets. The Swiss National bank coming through and surprising everybody by deciding to scrap a cap thats been in place preventing the swiss frank from appreciating above a certain level towards the euro. At the same time
Mcdonalds joins walmart, gap and target announcing a wage hike for 90,000 employees. The ceo saying its all about the turnaround. Europe going big against google. Reports the eu is seeking a 6 billion fine. Does google in fact have an antitrust problem. Futures are mixed after the first trading day that q2 had. Saw losses on wall street. Oil prices pulling back as investors await the outcome of the ire ran Nuclear Talks. Jobless claims down last week from 20k to 268 near a postrecession low. Data coming out of tomorrows jobs report. Stock markets closed for good friday. A special edition of squawk box tomorrow from 7 00 to 9 00 a. M. Eastern time and of course theyll be all over the jobs number, which jim, after adp, some think might be disappointment, somewhere in the mid 100,000s but now claims. People playing name the number. They have to redo their name the number, right . Whatever they came in yesterday, they had to come and revise. These numbers are so in inconsistent they must d
Pimco woes. The death toll from turkeys mine explosion rises to 205. The countrys Energy Minister warns it could be the countrys worst incident of its kind. Youre watching worldwide exchange, bringing you Business News from around the globe. Good morning to cnbcs worldwide exchange, tragic news out of turkey this morning. Well be getting the latest update on that. Meanwhile, plenty of other Corporate News were following this morning. Lets kick off with sony. Its recorded its sixth annual loss in seven years. The company says it must bite the bullet on restructuring as it tries to turn around its failing electronics division. Shares this morning in frankfurt are lower. Weve seen losses of around 2 , 3 . Joining us with his thoughts is managing director and head ofation research at pellham smithers. What is sonys fundamental problem. Theyre still making hardware electronics. Until they can work out a way of creating an environment in which that is profitable, theyre in trouble. Others ar
Food allergy is the reaction of the immune system that gets triggered in some people after eating foods containing allergens, say nuts, milk, eggs, soy, wheat, fish, and shellfish.