And looks to push shares higher with a big money Share Buyback. Banking on big profits hsbc rakes billions of dollars and looks to push shares higher with a big money Share Buyback. And china cools the worlds second biggest Economy Saw Manufacturing growth slow last month, fuelling fears that chinese growth is on the slide. Welcome to World Business report. Im sally bundock. Also in the programme, we will show you a robot that can crack open your safe. First of all that silly when on the latest numbers coming from europes biggest bank, hsbc, reporting its earnings in the last 30 minutes. It made a pre tax profit of 5. 28 billion in the Second Quarter of this year. A from 4. 6 billion the previous time and analysts were expecting a high number but not as big as that. It announced a Share Buyback as many we predict in, looking at 2 billion worth. It looks to make the most of its huge cash pile. The move will effectively restrict the supply of hsbc shares in the marketplace of course and
Forbid, one day we get too restrictive policy that would end financial repression. Which year when we get there. Would we get there . Bill i think it would take longer than two years. To contract is neutral interest and right now it is below zero and it has been below zero the last five years. Prior prior to lehman brothers, it was 1 or 2 . What is the answer for a high level world that was damaged significantly in 2009 and 2010 . The fed is proceeding gradually. I think the neutral rate of interest in nominal terms is probably around 2 , 2. 5 . Is ituggesting 2019 is at 3 . It is approximately 0 on a longerterm basis, which means real Interest Rate at a zero percent level. It is a delicate process, and not only the fed, but the ecb, all doj all boj Central Banks have to tread carefully as they move up. Scarlet janet yellen stretched stress they were looking at a gradual rate of great increases. Can the commitment of a gradual pace coexists with discussions on how to shrink the Balance
Holding talks about its options including an Asset Management ipo. What will it take to restore confidence . And a spinoff, energy goes public, pricing at the top end of the range. In europes biggest ipo. We will be speaking to the company ceo. Isoline the ftse 100 higher. The outperform or because of the flash crash of the pound. Aversion to all about the Great British pound once again. Little bit talk a about what is going on with the fair value in what is happening with the pound. The pound having an impact around the world. And it will have an impact on the ftse. If there was ever a chart, there it is. The flash crash of the pound rippling around the world. You do not have the british pound sitting up your very often. Down by 1. 23 . That is where we are trading. Seeill be interesting to how this ripples around the world because of the performance. We will find out whether the ftse enters a bull market today. At the moment, fair value suggests not but we are getting close. Will we
Checkout the golden gate you concede the fall covering a good portion of the bay area and to have to remember is we have High Pressure building in squeezing into a very finsen which is making progress nonetheless a cyclical thing befall a tractor also in to tomorrow but mixing up fairly quickly there was a temperature for us right now 64 Oakland Livermore 5854 downtown San Francisco. Reporter that compares to yesterday pretty close all or in a 77 for going on to 2 00 fog and all that it will be warm in the afternoon hours. Reporter 61 4 00 a. M. 1284 do not forget the rest of the 90s by the bed afternoon. Robin winston no major problems come not of oakland through the maze downtown it is pointed the ride or, worse from skyway in here is a live look at the san mateo bridge commute neisse like heading into foster sitting near average drive times 15 minutes that is to get from the nimitz out to the 101 connector. James it began with an armored car heist in windsor that led to guard being
Both are expected to defeat their primary challengers. John mccain is seeking ath term in arizona. Hes being pushed hard on immigration by the state senator dr. Kelly ward. After repeatedly promising not to run for his senate seat. Marco rubio is on the ballot. Hes expected to breeze through despite spending by carlos beruff. The congressional fight in the miami area, the dnc chair Debbie Wassermanschultz is trying to fight off tim canova who was backed by bernie sanders. We dont take money from corporate interests. And it leaves us free to represent the people. They want to know they have a fighter, and someone who knows their way of life and has been in the Community Like i have for 30 years. Reporter there are fresh concerns about the safety of our elections. Harry reid has sent a letter to the head of the f. B. I. James comey to investigated if russia is trying to temper in our elections. Deirdre well talk more about that. Blake berman, coming back to you in a little bit for an upd