The issues china is facing. Short of these stimulus packages, we don t know a great deal about where the money is being spent. Would you be looking for in order to try and turn these futures around 7 one of the big issues is the banking system is huge in china, it is loaded with bad debts. It s been forced to lend to bad projects for so long so the first thing to do is rescue the banks of this is something that the fed did after the financial crisis. system. Instead of giving them more money to lend and using that money to set up a fund, buy from them all of the bad assets and let them go back to a clean balance sheet and start over. The government can hold this bad debt, these bad property investments for a very long time but the banks need to have a better capital base to start lending again and you need to stop forcing them to lend only to state owned enterprises which are not profitable and bad projects, bad infrastructure projects with a 1% return on assets. You need to get the
Cut of half a Percentage Point on wednesday has spurred investors sending us markets into record highs. Traders cheered the Central Banks big call cutting the main Interest Rate to between 4. 75 and 5 . Opening the door with a bang on the first rates Easing Cycle in more than four years. President biden hailed the move as good news for consumers but said there was more work to be done in taming inflation. Lets be clear. The fed lowering Interest Rate is not a declaration of victory, its a declaration of victory, its a declaration of victory, its a declaration of progress. Its a Signal Weve entered a new phase for a colony and are recovery. I believe its important for the country to recognise this process because we dont, the progress we made will remain locked in the fear of negative mindset dominating our economic outlook since the pandemic began. Fed officials have made it clear that this cut was only the beginning and investors seem to have liked what they heard. For more, lets get
Prisoners of war and the bodies of the deed it will be done under the guidance of the International Red cross secondly the specific parameters of the cease fire will be agreed upon and food lee azerbaijan and armenia a starting substance of negotiations with the aim of achieving a peaceful settlement as soon as possible with the mediation of the o. E. C. D. Minsk Group Coaches and on the basis of the basic principles of the seattle mint the presence of kurdistan has declared a state of emergency in a bid to and unrest following disputed Elections Parliament will vote on the measure later in the meantime the military has been deployed to deploy troops to the capital base but. The 2nd u. S. President ial debate between donald trump and his democratic rival joe biden has been canceled it was scheduled to take place next week old guys wanted to hold eventually but the president refused. It is imposing tough new rules that will stop candidates in novembers u. S. Election from declaring prem
But you were talking about the dow being in positive territory for the First Time Since september 2nd. Stocks in china reopened after a week long Public Holiday they both jumped by more than 2 the shanghai composite was up by 2. 6 lets take a look at where things stand right now in europe where there is some trading taking place you can see the markets are open there and theres a bit of a mixed picture. Its actually a little bit higher ftse 100 is right around the flat line, andrew. Hey, becky. Weve got so much going on this morning. Weve got this is squawk planner, two major tech events first amazon sales day it begins after it was postponed, if you remember, back in july. Now running two days, starting at midnight tonight eastern time so watch out for that. Ive already scheduled it and then Apple Holding the big event tomorrow the launch event expected to unveil the new iphone. Everybody looking for the new 5g iphone it will include the first major exterior redesign since 2017 and we
A yet another trophy from behind munich this time beating dortmund to win the german super cup. Im Rebecca Richards welcome to the program we begin with the fallout from americas debate debacle u. S. President donald trump is facing a storm of criticism over race after he refused out to outright condemn White Supremacists instead he told a far right group to stand by on wednesday trying to refine that message to stand down but despite his backpedaling his remarks have sparked outrage in the u. S. And beyond. Some commentators are calling it the worst president ial debate in u. S. History 98 minutes of interruptions crosstalk insults and accusations mostly from President Trump the heated exchanges where many like this one over the u. S. Supreme court to consider you should go out and vote your in voting now vote and let your senators know how you get on are you feeling that vote now that impact they will sure you in fact let people know who it is or senator russia im not going to answer