Worlds big Oil Producing nations continue their fight to prop up the price for crude on monday the organization of the Petroleum Exporting countries and 10. 00 other nations agreed to extend supply cuts until march 2020 thats according to several sources weaker Global Demand as a result of the us china trade spat have fueled fears that they recently rebound the price would come under pressure again. If youre looking for an insight into the state of the Global Economy. And the status of geo political relationships the oil industry is a good barometer. Because prices are still in danger of falling opec heavyweights saudi arabia and nonmember russia have agreed to extend current production limits for another 9 months. To put. Everyones support of the proposition to extend for 9 months the limits agreed to in december. Opec 14 member countries and its allies like russia account for about half of the worlds crude outputs benchmark brant crude has climbed more than 25 percent this year after
Gear what they just did thats getting a lot of buzz today. Then, watch out verizon. Why Silicon Valley may be asking, can you hear me now . Well explain. It is monday, july 8th Worldwide Exchange begins right now. Good morning and welcome to Worldwide Exchange im dominic chu. Brian sullivan has the day off futures right now are lower, but theyre off the worst levels of the session. Well have more on that coming up but first, to our top story this morning. One of the Worlds Largest banks announcing a massive overhaul. Deutsche bank is pulling out of its globals equities in sales and trading business as part of that move. Its an 8. 3 billion Restructuring Plan the german lender is also slashing 18,000 jobs across the globe. Cnbc is in germany in frankfurt with the latest. Why are they getting out of the stock, sales and trading biz and what are the plans reporter actually, Deutsche Bank has had quite many years now of low profitability of losses and on going problems to stay competitive
The us had just managed to stitch together a truce with china now up in the n. T. Against the European Union and old to stream to over a craft subsidies the u. S. Releasing a new list of goods tariffs worth 4000000000. 00 it includes metals cheese cherries and whiskey the distilled Spirits Council of the United States ones judys would jeopardize american jobs and consumers the World Trade Organization has found the 2 biggest plane makers boeing and airbus receive billions of dollars of powerful subsidies its yet to make a ruling. Lets talk about the Worlds Largest they have a corporate trade dispute with matthew mole from our business desk so matthew w t os taking care of this disputed stake in almost 15 years now trumps taking it into his own hands well last. Well thats right basically this is being on for years and years and years and at the heart of this question was should Companies Like boeing and their boss began receiving government state subsidies and they had to prove the u. S
Directions the u. S. Had just managed to stitch together a truce with china now whopping the ante against the European Union and olds disputes over aircraft subsidies the us releasing a new list of goods for tariffs worth 4000000000. 00 it includes metals cheese cherries and whiskey distilled Spirits Council of the United States ones judys would jeopardize american jobs and her consumers the World Trade Organization has found the 2 biggest plane makers boeing and airbus receive billions of dollars of powerful subsidies its yet to make a ruling. Lets get the perspective from our financial correspondent in frankfurt come at booz and conrad the u. S. Subsidizes boeing the e. U. Props up and boss whos right whos wrong. Well my answer might surprise you but both wrong but both are also right subsidies in making airplanes up to a certain extent is justified its a very expensive affair to construct an airplane and to build it if you dont get the support sustainable Long Term Support of privat
Rest of us hit the 70s by noon. 70s and 80s for our bay and inland neighborhoods, under very strong sunshine. Today one second longer than yesterday. Longest day of the year. 71 to 76, enjoy the first day of summer. Looking at Golden Gate Bridge where volumes are very light. If you look on the far righthand side of your screen, you can see the zipper truck inching forward there. You soon will have more room on the southbound side although you dont need it for at least a couple more hours. Quick check of drive times, westbound 580 tracy to dublin in the yellow at 40 minutes. Westbound 4 antioch to concord in the green at 15, westbound 101 san rafael to San Francisco, 16 minutes. A 1. 5 billion surplus is how much the California University system stashed away, hidden from the public and officials. Meanwhile tuition nearly doubled. Amy hollyfield is live for us in hayward. Good morning, amy. Reporter good morning, natasha. This came from a state audit. It was very critical of california s