From london. Im francine lacqua. We are getting news from the i. E. A. Theyre talking about supply and demand and the price of oil. They think price of oil may have bottomed. It was only a couple weeks ago we heard russia and saudi arabia agreeing that they will not put siad they would not add production. Opec output has fallen. They say, the headline out of this is that the oil price, they believe, may have bottomed as high cost producers have been shut out of the markets. Lets check in on the markets. Its all to do with what draghi said yesterday. Banks leading the charge. The european stocks still retain some of their strength, 17 . 7 . That crude is still a little bit higher for brent. I. E. A. Saying that Oil Prices May have bottomed. Lets get straight to bloomberg first word news. Yuan has henshore raced its decline for the year after the central bank raised its reference rate by the most in four months. The australian and new Zealand Banking Group putting it down to and dollar d
Was aimed at testing the structural stability and thrust of the newly designed engine. Experts say that while liquid fuel rockets take time to fill, solid fuel rockets are easier to fill and require shorter preparation time. In south korea, the country is already on a heightened state of alert. President park geunhye ordered hermel tear ready to respond to any provocations by north korea. On wednesday, pyongyang threatened to attack the president ial office in seoul to eliminate park and her followers. Parks spokesperson criticized the threat as a provocation and challenge to the entire world. Pyongyangs latest threat came in response to a south Korean Military drill. The scenario involved special forces being sent into north korea to attack key facilities. The drill is part of a joint u. S. south korea military exercise that began on march 7th. Pyongyang has warned of preemptive strikes. It has also repeatedly fired rockets and Ballistic Missiles into the sea of japan. The missile tes
Have taken if if it has to be taken with caution. Outgoing peugeot ceo gives up 21 Million Euros pension after overseeing 10,000 job cuts. And its no ordinary thanksgiving here on cnbc. Ill help prepare a turkey here in the studio. Announcer youre watching Worldwide Exchange, bringing you Business News from around the globe. Okay. Plenty to get through today on Worldwide Exchange. Three hours of programming. The u. S. Is closed, of course, today for thanksgiving so we have extra of the good stuff here. We kick off with just a recap of the german jobless numbers. Geoff, we were talking about this at the end of squawk box. A slight tick down in german unemployment. 2. 806 million. Euro dollar back up to 1. 36, about the best level in six weeks on euro dollar. Eurozone october ends three, up 1. 4 on the year, lower than the forecast plus 1. 7 . That means the august to october threemonth average, 1. 9 . Weaker than the forecast 2 . And private sector loans in october down 2. 1 versus 2 in
The People’s Bank of China set its so-called fixing at 7.2006 per dollar compared to an average estimate of 7.3047 in a Bloomberg survey with traders and analysts.