Now its time for World Business report. A taxing task for trump, as he pushes plans to ease the burden on business and the middle classes. But can he sell it to a sceptical congress . Plus, crude warning the boss of shell says the price of oil could soon be heading higher as lack of investment squeezes supplies. Welcome to World Business report. Im sally bundock. Also coming up, unexpected good news as chinas factories move up a gear in august. But first, we start in the us in springfield, missouri where President Trump has begun a speaking tour to try and build support for his planned tax reforms. He described the us tax code which hasnt been reformed for three decades as self destructive. And he called for a more competitive system to boostjobs and wages, repeating his ambition to cut americas Corporate Tax rate to 15 . On paper the Us Corporation tax rate is one of the worlds highest, at 35 . Taking into account various tax breaks, top us firms pay a bit less than that, an average o
Are shaping up. And harnessing the power of sd printing in health care. We meet the firm thats revolutionising the way artificial limbs are made making them cheaper and easier for those who need them most. And as you are hearing. Like it or loath it facebook is bigger more profitable and more controversial than ever. What do you think about that . Has it got too much influence . Just use the bbcbizlive. Hello and welcome to Business Live. We start with facebook because despite the ongoing controversy over everything from fake news to extremist and violent content the Social Networkjust keeps getting bigger and more profitable. Facebook has been warning for some time it cant keep growing at this rate but the latest results show no sign of a slowdown. Facebook made profits ofjust over 3 billion in the first three months of this year. Thats a jump of more than 76 on the same period last year and more than investors were expecting. And it is creeping ever closer to two billion users 1. 91;
Shatter at key support level question mark Second Quarter revenues are not as strong as the ceo would have liked. Matt miller will interview the man himself later this morning. What is going on at ficc . That is the rest are from the markets. 30 minutes into the trading day, this is how we are looking on the futures, little bit lower. There is a veritable feast of delivery from the corporate world. The question is how have we run an done on the european equities, the euro is rising. Asked is erica did not the one of its big trials astrazeneca did not meet one of its big trials. Bit a beat. Stocks are a little bit lower. How do you look at the fed, was it bullish for exit for equities, was it bears for bonds . You have south korea higher but we want to focus in on that currency, on the currency moved currency moves that you see. Also a little bit slower but this is where you want to focus on which is the dollar. The dollar is down by an eighth of 1 . It is the nuance in the language. Th
Cash flow really strong we were 2. 7 billion pounds, over a half billion more than last year and this is what gives us the confidence in raising our guidance in Margin Expansion and in initiating a stock buyback this year of 1. 5 billion pounds. Astrazeneca shares are set for their worst oneday loss, after a key lung cancer study fails, wiping 13 billion off the drugmakers market Cap Deutsche Bank shares fall on a 10 drop in revenue, as the german financial giant suffers the same fate as itself u. S. Peers with a slump in fixed income trading well speak to the ceo, john cryan, at 11 00 cet. Downstream powers shell to a beat, as the oil giant more than triples its profits in the Second Quarter Ceo Ben Van Beurden tells us the Energy Market is regaining stability. Bhafrnlg bhafrnlgts. What we are seeing is a market cents essentially in bale market is growing fast probably more next year. And longterm supply is declining. I think we need to discuss this astrazeneca story more. Astrazeneca
Dan will break it down. And later. Come a bubbling crude crude oil just made a run to 50. But theres something in the charts that could spell trouble for black gold well tell you what it is. The action begins now. All right, welcome back, everybody. Lets get to it. It really has been quite a wild couple of days for technology. The nasdaq posting its first backtoback day of losses in a month after earnings spooked investors. But the true test comes next week, when the biggest name in the space, the biggest name in the world reports, and that is apple. So two questions what can we expect from apple . And should investors be bullish or bearish lets get in the money dan . Well, you know, you mentioned this string of losses, two, in the nasdaq thats all weve got. Thats a sign of the market, when we say two days of losses is the worst in the month. So i think it makes sense to go back and look at the biggest names. We had amazon last night, facebook early in the week, google, and microsoft,