Weekend in doha apotentials from the Worlds Biggest Oil producers are gathering for what some call one of the most important discussions in recent memory. The goal, to reach an agreement that would limit output. If that happens it would be the first step in carbon production that has resulted in a glut of oil worldwide. Has thrown companies into bankruptcy. As brian selvin reports, reaching a deal wont be easy. Reporter a global game of political intrigue with hundreds of billions in oil dollars on the line. Major oilproducing nations gathering in doha, qatar, sunday to try to win a deal to stabilize or possibly even cut global oil production. The world is Still Producing 1 Million Barrels per day more than it needs. Even with american output falling this year. Ful the countries attending the meeting face a catch22. They desperately need higher prices to fill their budget holes but they cannot risk slowing production because they need every dollar they can get. The biggest conflict com
Traders say that the vix illustrates the central bank as backstopping the markets so that means theres less demand for downside protection. Speaking of Central Banks, we have two key decisions to watch today. The bank of england is expected to withhold fresh monetary stimulus as the start of the new year gets under way. Forecasters say that the Economic Data is still too mixed to try and trump inflation worries. The ecb also expected to stay steady, holding its key rate at. 75 . Policymakers are seeing refraining as the eurozone economy shows signs of stabilizing. We are going to bring you both decisions as soon as they are announced. And the ecb reports comes out 45 minutes later. First, breaking news out of washington. Today, president obama is going to be announcing his plans to nominate jacob lew as the next treasury secretary. The president will be making that announcement at 1 30 eastern time in an event in the east room of the white house. John harwood joins us now with more on
Pharmaceuticals. Is this the beginning of a biotech merger wave . And generations of debt. Why a growing number of parents over 50 are struggling to pay off not only their own college loans, but also their childrens. All that and more tonight on nightly Business Report for monday august 26th. Good evening, everybody, im bill griffith, in for tyler mathisen. The concerns about what u. S. Secretary of state john kerry called undeniable evidence of a chemical weapons attack in a rebel controlled area of syria, and what role the u. S. Military might play in response sent the markets lower in the final hour of trade today. Heres what secretary of state kerry said during a News Conference in washington this afternoon, in a clear warner to bashar al assad. President obama has made clear to the assad regime, that this International Norm cannot be violated without consequences. And there is a reason why no matter what you believe about syria, all people in all nations who believe in the cause o
Childrens. All that and more tonight on nightly Business Report for monday august 26th. Good evening, everybody, im bill griffith, in for tyler mathisen. The concerns about what u. S. Secretary of state john kerry called undeniable evidence of a chemical weapons attack in a rebel controlled area of syria, and what role the u. S. Military might play in response sent the markets lower in the final hour of trade today. Heres what secretary of state kerry said during a News Conference in washington this afternoon, in a clear warner to bashar al assad. President obama has made clear to the assad regime, that this International Norm cannot be violated without consequences. And there is a reason why no matter what you believe about syria, all people in all nations who believe in the cause of our common humanity must stand up to assure there is accountability for the use of chemical weapons, so that it never happens again. The market had been trading higher earlier on merger news and in spite
Childrens. All that and more tonight on nightly Business Report for monday august 26th. Good evening, everybody, im bill griffith, in for tyler mathisen. The concerns about what u. S. Secretary of state john kerry called undeniable evidence of a chemical weapons attack in a rebel controlled area of syria, and what role the u. S. Military might play in response sent the markets lower in the final hour of trade today. Heres what secretary of state kerry said during a News Conference in washington this afternoon, in a clear warner to bashar al assad. President obama has made clear to the assad regime, that this International Norm cannot be violated without consequences. And there is a reason why no matter what you believe about syria, all people in all nations who believe in the cause of our common humanity must stand up to assure there is accountability for the use of chemical weapons, so that it never happens again. The market had been trading higher earlier on merger news and in spite