A heated discussion going on here in europe how to reduce or stop coal fired plants to save the planet but only a few are actually walking the talk in fact coal is gaining market share across the globe in 2018 coal consumption grew by 1. 4 percent that equals 3770000000 tons a day experts agree coal is here to stay for years to come to meet Rising Energy demand china by far has the worlds biggest appetite for coal india comes in 2nd consuming 12 percent of the worlds coal and on the other end of the spectrum germany only uses 1. 8 percent so it seems like the future health of our planet depends on china and india and the way they satisfy their energy needs for more im joined by day for a chat or g. From a Business Standard in mumbai day if i hope you can hear me already and here i can see you good to have you with us so 1st of all explain to us how addicted is india to coal. We are quite addicted to just look at the start that it takes almost 74 percent of in the us totally 3 days in r
Depends on china and india and the way they satisfy their energy needs for more im joined by day for a chat or g. From a Business Standard in mumbai dave i hope you can hear me already and here i can see you good to have you with us so 1st of all explain to us a how addicted is india to coal. We are quite addicted to just look at the started to statistics almost 74 percent of indias totally sick days in rishon is from politicians and not only that almost 60 percent of indias in star gappers is from boston so its we are certainly addicted to the call and there is no way out as far as a couple of makes deals is concerned what is happening is the government is unable to change to change the of again do doesnt want to abandon. Our stations that is because if we shut down this gold base politicians it will leave a lot of bad debts in the indian Banking Sector which is already quite weak and this one of the big problem which has happened in india and carmel power that is the best quality can
Printed, washington has named china a currency manipulator, which President Trump promised he would do on day one in office which he hasnt done until now. They have had many opportunities to do that, but the statement they have come outwith. We have been talking about this trade war the tariffs and what is going on with china and the us, but it is now alleged that baiting has unleashed their most potent weapon, which is weakening their currency, and it has the impact of an unfair advantage to chinese exporters. The us is saying this is unfair, they claim it is a currency manipulation. It happen in 2008, the last financial crisis, the chinese currency weakened. It went past the cracking seven and it is about seven to 1. It does come with potential of biting the chinese back. It makes purchasing us goods for chinese consumers much more expensive, global oil is priced in dollars and any chinese companies, borrowers of dollars at the moment will find is very difficult to cope with. The ta
Lets start with the huge sell off currently taking place on global stock markets, which over the past 2a hours have seen their biggest falls since 2018. In the us, the dowjones and s p 500 both fell by almost 3 on monday, and tech heavy nasdaq was down by 3. 5 . Investors are concerned about the latest developments in the trade war between washington and beijing. A few hours ago the white house officially called china a currency manipulator after a sharp fall in the value of the chinese yuan against the dollar. It passed the seven per dollar level for the First Time Since 2008. Nervy investors have been pouring their money into safe haven assets as a result, with gold futures currently trading at a six year high, hovering around the 1,500 level. Lets get more now from samira hussain, who sent us this report from new york. It is clear that investors here on wall street were spoke by chinas moved to devalue its currency. Us Financial Markets and their worst day in all of 2019. Investors
The hang seng was down more than 200 points. Talked about the violence that erupted overnight. We will talk about that later on. Strongerr seems to be on the back of asia fx currencies, like the south korean won. We saw the export and import numbers from south korea for the first 20 days not looking pretty. Chip exports plummeted 30 . Royal watching rick rude brent crude. Political tensions between the u. K. And iran. The latest on the strait of hormuz. We are seeing a mixed decision see yieldskets higher. Some of the boards will show you what we are watching out of china. All of the love has been in shanghai. The less rest of china is overlooked. Csi down 4 10 of 1 . Shanghai shares of lowered by close to 1 . Shenzhen and the chinx, i the liquidity is getting sucked out. , the liquidity is getting sucked out. Unofficially, what we have done at bloomberg is put together our own it inhouse custom index. It is based in market cap. Overall, we are up about 75 today. You do see why that is