To the upside. Other news coming through about approvals for future houses as well. The asx up 119 points. Thats move along and look at other Asset Classes. Crude trading yesterday with a 33 handle, hasnt had a huge rally since then. Part of that is down to russia and opec looking like they will not be hiking reduction in january. That news helping to propel oil prices up to over 97 in the last six hours or so. ,old remaining where it was just shy of the 1900 level. Thats ahead of the u. S. Election. The u. S. Dollar index marginally down, the Rate Decision coming expecting a 0. 15 cut in the base rate and we do have in anticipation of all that move slightly higher than that, and thats down to a commodity related currency and the crude price helping that along. Lets head over to new york and join karina mitchell. We start with the latest headlines on the pandemic. Starling fell to its weakest in the month, with an economy already reeling from similar measures earlier this year. France
The subcommittee will come to order. I ask unanimous consent the chair can declare a recess at any time. Without objection so ordered. I want to remind members of key regulations on rules and then members must also continue to use the video function and then to experience connectivity issues or other technical problems. And then let us know as soon as possible so you can receive assistance. And you can call the committees for a technical assistance. Members may also not participate remotely any other proceeding occurring simultaneously. It is the responsibility of each member and mute your microphone prior to speaking. If i hear any inadvertent background noise lastly please mute your microphone. All standard rules apply. We will have a good faith effort to address the connectivity issues and participate fully members will have five minutes to ask questions to insert a document into the record, please have the staff email it. This hearing is also live streamed for the public to view an
The concern about the stronger currency, not to worry just yet. We saw that euro jump. Ist weakness on brexit sparking a rebound in the dollar. Your offshore renminbi, we are set to break six weeks of gains. 683 right now. That is below 40 right now. We have copper also and gold on the back foot. Oil prices on track for the biggest twoweek drop since what we saw back in april. Lets get to the first word news, we have Karina Mitchell. Senate democrats have shut down a relief plan proposed by republicans. They failed to get the 60 votes they needed. Estimatedican plan is at anywhere between 500 and 700 billion dollars. The democrats are proposing to. 2 trillion. 2. 2 trillion. Boris johnsons government refused to scrap plans to reignite the divorce accord. The eu is threatening legal action if the u. K. Does not drop the legislation within three weeks. Thes president has painted an optimistic picture. Economic data suggests a strong rebound. They kept policy on hold for Economic Contract
Keep . Are we in agreement . I think i agree with supervisor ronen that these are interrelated and if we do find some funding, either from this or from, i dont care, you know, to fund the civilianization, then i am in agreement. Chair supervisor mandle man . Ok. Chair so i think that we have said that we will cattleya academcut threeAcademy Classes e chief which Academy Class to keep and not keep any of the Academy Class on reserve. Lets get to the overteam. Theres been a proposal from supervisor walton to cut the budget to 75 and by supervisor yourself eesupervisoryee to cute 50 in reserve and then theres a use of the overtime money for some of the overtime money to civilianize the police force. Now, supervisor walton, you have put a proposal of 75 of the 17 million to be cut from the overtime budget. Would you comfortable with supervisor yees proposal of a 50 cut and 25 of that 50 being put on reserve . Yes, yes. Thank you. Chair supervisor ronen, are you comfortable by cutting by 50
Declarations and directives. We will participate in the meeting through video as if present. Public comment will be available on each item on the agenda, both channel 26 and sf tv is streaming the number across the screen and each speaker will be allowed two minutes to speak. Comments or opportunity to speak during Public Comment period are available rhea phone call by alling 415 6550001. The i. D. Is 146 8471266. Ten press pound twice. When connected, youll hear the meeting discussions and muted and in listening mode. When your item comes up, dial star three to be added. Call from a quiet location, speak clearly and slowly and turn down your television or radio. Alternatively, you may submit public email to the budget and Appropriations Committee clerk, linda wong. If you submit Public Comment via email, it will be forwarded to the supervisors. Finally, items acted upon today are expected to appear on the board of supervisors agenda of september 15th unless otherwise stated and that c