A very warm welcome. I am anna edwards. Said, why about in terms of the oil market. What are the consequences of commodities . Look at this . You have that economic surprises. The Commodity Index down four days in a blow. Oil down 11 this week. There was a lovely piece, if you are long commodities, our condolences. That is an understatement. Anna we have seen weakness in the commodities space. Prices down another 3 . A focus on the oil price. It is interesting to debate whether this is about demand, specific commodities, or the chinese growth story. Broaderisk radar, the commodity story. Here we have got the iron or ore futures, down 7. 7 percent. A weekday yesterday, down. They aussie dollar. The worst performing currency after the Canadian Dollar. Heading for another legally weekly loss. Market, the question you need to ask yourself as you look at iron ore futures, these moves are not the harbingers of recession. We have gone from an upbeat view temporary reprieve. Turning it over to
Flat. The ftse is down by 0. 1 in italy. Crude was the big story yesterday. Wpi this morning is up once again by 1. 6 . Gain of 77 cents to 48. 10. This comes after it looks like additional countries from opec are standing with saudi arabia saying those production cuts need to be expanded and also we saw a surprise decline in the supplies here in the United States. Now lets talk about todays corporate story. Shares of snap plunging after the Company Released its first report since going public. Snap missed on the top and bottom lines. The company struggled to keep up with user growth validating a lot of concerns about its ability to take on facebooks insta fwram and tgram and the s feature. Heres what evan spiegel had to say about competition on that call. People will copy your product if you make great stuff. When google came along, everybody felt they need a search strategy. When facebook came along, everybody felt they needed a social strategy. With snap, we believe everybody will d
Clinton, rem, tupac. She is interviewing mariah carey. She is talking about her new book that is all about a subject near and dear to the bay areas heart. It is act two for her. If you gentleman could pick an act two perhaps after, you know, broadcast news, is there anything completely out of this realm that you would like to tackle . No. Not really. Okay. I like photography. Okay. I love this job so much that i dont really think about that. I have been a professional photographer in a past life. Now maybe i would be a chef. Lets hook up. I like that idea. She is diving into minor league baseball. I have a love for the game of baseball. It is not just about photos on the field. Very personal. Moments that we dont get to see. Right. With these Minor League Ball players trying to make it to the show. We will talk to her in a couple minutes. An act two for students after taking an exam they spent all school year preparing for. Now dozens of them at one Marin County High School has to reta
If you check out crude oil, which is probably the biggest market story weve been watching for a week or so crude Oil Yesterday was up slightly to 42. 74. This morning up to 42. 84 youre still talking about wti below 43 a barrel. Americas 34 largest banks did well in the stress test. The results show even during a large recession large banks would be well capitalized and could support homes and businesses when times are tough. The second part of the stress test will be released next wednesday. There are talks about whether things might have loosened up a bit with the fed. Doug parker says he is not happy with Qatar Airlines plan to buy a 10 stake in the company. Parker telling phil lebeau he found out about it yesterday parker telling cnbcs phil lebeau he found yesterdays offer confusing, adding why an airline were aggressively fighting would want to take a stake makes no sense he wonders if the motivations were misguided and ill conceived. They have been fighting over policy in washing
Muted start. And Chlorinated Chickens, the Electric Mini and tech titans well be looking at whats been a busy week in today we want to know does great wealth bring great responsibility . Yesterday amazon founder jeff bezos was, briefly, the richest person in the world what would you do if it was you . Just use the hashtag bbcbizlive. Hello and welcome to Business Live. We start with retail giant amazon it has seen its shares fall sharply after its latest figures disappointed wall street. The good news it is raking in huge sums of money as its sales keep expanding. The bad news its spending a fortune on developing its business and that is making investors nervous. Lets show you the details. Total sales in the three months tojune jumped almost a quarter compared to last year to just under 38 billion. Unfortunately they spent almost all of it Operating Expenses surged to well over 37 billion. That means there wasnt much actual profit a comparatively measly 197 million and down 77 on last