But he did say the move would not be the beginning of a lengthy courting cycle by the fed those comments appeared to have disappointed investors action is u. S. President trump was also left disappointed he tweeted quote what the market wanted to hear from jay powell and the Federal Reserve was that this was the beginning of a lengthy and aggressive recording cycle and quote. The u. S. Dollar strengthened against the yen and the euro on the news of the record well that could be good news for japanese and european exporters its another thing that is unlikely to cheer the u. S. President. Lets get the european take on this from a financial correspondent in frankfurt actually just how far is the euro folding 1st of all against the dollar. Point 4 percent making it one percent in the past 2 days but its more about how much did the dollar rise and then ill feel the markets were being greedy expecting more rate cuts despite the u. S. Economy doing solid and to be fair it actually hasnt ruled out further cuts if the economy worsens and he just didnt commit to more cuts and otherwise that would have sent markets in a tailspin if that it wouldnt have come through for some reason but then we all know that powell is not one of the best communicators what about the effect on emerging markets. Was the emerging market currencies also it took some beating the index missed tracks the emerging market currencies saw its biggest fall into months. Hows all the Economic Data out today in asia and europe adding fuel to the fire because i mean things arent looking good for the Global Economy are they. No absolutely not and they did add fuel to the fire today we did see in numbers come out from south korea exports were down for the 8 straight months of Manufacturing Activity in south korea japan taiwan and china contracted in july it was far worse in the euro zone here Manufacturing Activity contracted at the foster faster speeds in more than 6 years so its worrying and the reason for all of them say its the trade wars and the slowing china and to put things into perspective as to how the market should brace for the future said back is because these are p. M. I. Day does based on opinions of purchasing managers and typically look forward into the coming months so thats why we must be bad news going ahead last just look forward for us just briefly and tell us what whats powers timeline as far as cuts to go well that just depends on the health of the Global Economy how soon u. S. Catches cold or it also depends on how insulated power is from st. Ok lets see if they can separate the 2 as it was sunday for us in. Fact in some of the other business stories breaking news the british pound to its lowest level against the dollar in 3 months the bank of englands decision to cut its Economic Growth forecasts bind with investor fears of a new deal brigs it while the pressure on sterling to be a wee has cut its key Interest Rate on hold. Chinas attempting to rival boeing and airbus chinese plane make it cold mixes it successfully tested the poles prototype of its c 919. 00 passenger jet its comparable to boeings 737 and a 320. 00 it could be certified by the end of next year. U. S. Prosecutors have accused you showing tionne chinese medals magnate of invading almost 2000000000. 00 in tariffs thats according to a federal indictment father in los angeles the billionaire has denied any wrongdoing. And australia has pledged to put 55000000. 00 u. S. Dollars towards finding Human Trafficking in Southeast Asia it was announced that the us in summit in bangkok a 10 year program will include training for police and the judiciary to deal with criminal networks. Weve been reporting on this next story the past couple days and still havent got all of the facts but it looks like indias coffee tycoon v g sit down to took his own life he was under investigation by tax authorities Business Leaders are rang great they say the governments crackdown on fraud and tax evasion goes too far. The body of indian entrepreneur v. G. Siddharta washed ashore on the banks of a river in the state of karnataka an autopsy is trying to clarify the exact cause of death suicide a suspect says. I dont think that in the morning. Or the information we went and that we also contacted the family members. Of the. B. G. Siddharta was one of indias most successful entrepreneurs as part of a long established coffee dentist he founded the chain cafe coffee day in 1996 became indias largest with 1700 outlets but then the tight turned in 2017 tax or thora these probes numerous branches and the company was said to be under financial pressure. According to media reports he left a farewell letter which read i thought for a long time but today i have given up as i could not take any more pressure from one of the private Equity Partners forcing me to buy back shares. As an entrepreneur he had failed those are the words he reportedly wrote in his farewell note in response to the companys plight siddharta was gearing up to sell a large stake in the coffee chain to cocacola the stock would fall in 20 percent to an all time low. Lets go over to bangalore where josey john is that is by 1st jersey youre following this story what was it the pressure of the doubters business failing or this added pressure from tax authorities. Well then both of them seem to have done it when there was the there was no or none of the indians conception economy has been slowing but there was nothing fundamentally wrong with his coffee and by it was doing well but he seems to have collapsed chock full of debt including really in the last one is shock and it went to 4 times which is very very unusual in his kind of business thats on one side and on the other side it was back to monitor max found mine of 150000000. 00 which he had to cough up money to baby that i thought these are the government authorities had throws at these shares and multiple into prices which he quoted as saying which meant that he had to keep borrowing to kind of he you know servicing debt and that seems to have been a mansard as both his debt and the pressure from the tax attorneys a bit but just to get this play did he do anything illegal we dont know the answer to that yet that taxes are beastly in concealed income and least taxed in modern bat and it is not a small amount of money theres a vote like you said of 120000000. 00 and to the extent that didnt challenge it to court means that you dont want to get out of it or he thought it was too much of a distraction use better off enough so we dont answer to that yet so what Business Leaders getting angry about i mean does is modis crackdown differentiate between genuine business failures and actual corrupt practices. Well we need to take a step back better to do on state western media that has socialist legacy and the as a country as i lost citizens feel trust is a snap so when somebody sees its a genuine business fadia view of it he stepped. On the beat and thats whats causing it but dad said in this instance i think visit huge which a lot of shock across the Business Community that a man with big revenues could get into president unusable one by 5000000000. 00 assets of one side 1000000000. 00 how could such an excuse step as she would want to shop it around and just put it for us there in bangalore thank you very much for the analysis on that story. Looking great for the chinese economy on the trade front its one of the reasons beijings pumping billions more into Infrastructure Projects thats just helping keep the economy going commuters get to enjoy the benefits. Rush hour in shanghai every morning the same story millions of commuters heading to work the citys subway system is pushed to its limits. In shanghai subways passenger flow can reach over 10000000 a day during the morning rush hour there are peak 703 metro trains running things many commuters live in the suburbs or even further right now the metro system is being expanded again 3 new lines are under construction and for more in the planning stage they will stretch well beyond shanghais borders. There are many workers here because its an Industrial Area also its very convenient because the subways right here. These investments are part of the countrys updated Economic Policy china put the brakes on major Infrastructure Projects for a number of years but things are starting to pick up again the ongoing trade war with washington means china needs to find ways to boost its economy. Kind on the deal and. This current round of investment spending is moderate and limited to higher your it aims to hedge against the slowing economy and the impact of trade conflicts and. Its not about boosting the economy itself bennett a couple should be that should. Many older plans for more metro lines have been revived after they were previously abandoned design profitable and thats something commuters can celebrate. Nice doing business with here. The body. The book. The body. The be. The best time to take some audio from subliminal tamira just such the law and fight for the truth above hard to overcome my own troubles and to commit to a modest time for. A new debit. Coming up ahead. Minds. Im not laughing at them i guess sometimes i am but i stand up and whip it up and thinks he can for jam a culture of looking at the stereotypes aquatics it is think its new for the country that i not time. Yet need to see the pictures grandma day out to eat its all about ok. I might show join me to meet the jetman sunday w. Post. Robots because theyre still in the Development Phase of sorts whats going to happen when they grow into it will schumanns and machines be able to peacefully coexist or are we on the verge overrun collapse if we just bumble into this totally unprepared with our heads in the sand fusing to think about what could go wrong then the face of this probably going to be the biggest mistake in human history. Artificial intelligence now spreading through our society just the beginning of a good in digital. Form globally be subjected to continuous state surveillance going to be honest with experts be able to agree on the guidelines or will this Technology Create deadly new autonomous weapon systems clinton. School robot collapse starts aug 14th on t. W. The to play. Place blame blame blame blame. This is you know we news live from berlin raising the alarm over the spread of ebola in the democratic republic of congo rwandan authorities close then reopen the border with the d r c as the 3rd death is confirmed in the congolese city of goma with a population of 2000000 fears of an epidemic are growing also coming up could be a shame to be planning to use force in hong kong and thats what some people are reading into the army says release of a video that includes an egg
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