Bloombergs headquarters in london. I am manus cranny. Time for another reading of growth in the eurozone. Italy this time. Disappointed in terms of estimates. Growth comes in quarter on quarter at 0. 2 . That after after we had the french and german numbers come in, a lackluster set of numbers. The Italian Economy grows at 0. 2 . This is super friday in terms of the overall performance. One people say is good. But lets get out to mark barton with breaking news. Mark breaking news from iea. Its on oil. This is the International Energy agency. It says Oil Stockpiles have 3ollen, have risen to billion barrels because of Strong Production and opec and elsewhere, deepening the rout in prices. Prices have fallen by 40 to the low 40s because of this, this movement by opec to sustain production and keep market share, the behest of the falling oil price. This massive cushion has inflated record supplies from saudi arabia as world fuel demand rose at the fastest pace in five years. That is not a
Institutional bonds, everything up for grabs driving optimism. Driving that hunger for risk. That is how stocks are opening higher. We got better and is china. The purchasing Managers Index in terms of manufacturing, not falling as much. It was all about the ecb yesterday. That is what happens to the euro. 1. 113 at the moment versus the dollar. Down almost 2 . So big moves when it comes to currency. Thanks for marriott draghi. Big moves in oil. Sad news on the back of the death of the king of saudi arabia. He lived to a grand old age. How it is trading on the day. Up pops up 2 . Questions about whether his brother will continue with his predecessors policies. Also, will they keep their oil minister . Big questions but oil markets are getting a boost on the back of the saudi arabias king abdullas passing. This is about ecb returning. Borrowing costs driving down. Italy down. 1. 46 italy is looking to borrow on the 10year. Spain able to access the market at 1. 3 . Germany still less tha
His health care law. This republican shut down did not have to happen. Nearly 800,000 federal employees forced to stay home from work. Museums, parks and monuments closed, including world war ii memorial in the National Mall but barricade didnt stop one group from mississippi. Makes you feel good they didnt get gates open for us. Both house and senate back in session today but no signs of progress. Last night, House Speaker john boehner name aid team of eight republicans to sit down for negotiation was Senate Democrats. Today, they staged a photo op. This table is empty on the other side. We need Senate Democrats to join use but Senate Majority leader said no way. There will be no discussion because democrats are not going to negotiate on obama care. We have a good day. For anarchists. Why . Because the goflt is closed. At this point there is no end in sight but there are growing rumbles that the house leadership needs to cave. It does not include restrictions on obama care but there i
Networking gear faces fresh questions over whether its turn around strategy is working. All that and more tonight on nightly Business Report for thursday, february 13th. Good evening, im tyler mathisen. Around im in for susie. We begin this evening with a megamerger in the media world. That deal that would combine the largest tv providers comcast and cable. If approved the company would have 33 million customers, nearly one out of every three cable households in the u. S. And become a dominant force in delivering tv content. The allstock offer would give time warner shareholders 159 a share. Pretty big premium. Stocks Closing Price today of 144. 81. Julia borstin has more. Reporter comcast acquisition of Time Warner Cable, if its approved, would create a cable and Broadband Internet giant with nationwide reach. Comcast saying the deal will pay off and start generating money in year one. In part because it will have operating efficiencies of 1. 5 billion. Comcast buying Time Warner Cabl
Looks like almost a half a percent drop for both the ftse and the dax in germany. In the u. S. , a packed Economic Calendar today. At 8 30, weekly jobless claims. July cpi and empire state survey. Then at 9 00, tick data. 15 minutes later, july industrial production. At 10 00, the philly fed survey and the National Association of Home Builders survey. And the consumer is in focus once again today. Walmart and kohls among the names to show results before the bell. Well be hearing from dell. This is a little bit of a surprise because the pc maker was originally scheduled to report results next week. No shortage of numbers to be running through. Lots to do today. In other economic news, u. S. Home foreclosures on track for a sixyear low. Foreclosure listing firm realty tracks shows 30,000 homes last month, thats down 31 from july last year. Though up 4 from june. Demand for physical gold soaring 53 in the Second Quarter. The World Gold Council reports the jump was led by opportunistic buy