S p up s p up and the dow indicated up look at what happened overnight in asia. The nikkei opened up in europe where there is active trading, youll see green ar owes across the board. The ftse was up more than half a percent. Youll see at least the 10year is yielding 1. 8 big news, weworks board now weighing two competing Financial Rescue offers. Expected to accept an offer from softbank to take a controlling stake in the company the decision could come as err will early as today the are rescue package from sofk to buy up to 3 billion in shares held by other investors they would also put together 5 billion in loans sources say theyll pay the founder adam neumann up hundreds of millions to leave you are paying him twice. Hes the only one who has made money on this deal. Meanwhile, theyll begin layoffs almost immediately of almost 2,000 people. One of the reasons they delayed the layoffs is they couldnt afford the severance youll wait here for adam neumann to go home im told that will ke
For the first time in two years. Our road map begins with the market. Stocks set for a tripledigit drop as investors react to claims that argentina default earnings and the fed. The food safety scare in china causes big damage to its kfc and pizza hut locations. The earnings parade marches on. And the biggest u. S. Ipo of the year set to debut right here at the nyse about an hour from now. Were going to start with yum, though. That start down sharply in the premarket trading. Reports of Improper Food handling at one of its China Suppliers is causing significant negative damage sales in that country. Interestingly, osi was not a major supplier to yum, but theyre saying that all the Media Coverage in that country is enough to make this filing. They dont know how long it will last. Its been ten days. But if it continues at this pace, it will be material to the year. Yeah, it took 18 months for the company to turn last time on one of these scandals. People do have memories. 18 months, mayb
or that meeting? well, jeff, the economic relationship between united states and china has long been a priority for our two countries. that s certainly been true while president obama has been in office. i think previous u.s. presidents would say the same thing. that relationship has only become more important as we ve seen china s economy grow and the importance of that relationship manifests itself in a variety of ways. it includes intellectual property rights. certainly there will be continued discussion about chinese efforts to move toward a more market determined exchange rate for their currency. it also raises some questions about the concerns that we ve expressed in the past about china s behavior in cyberspace and that there are samples of cyber espionage that have had economic consequences for our relationship. so these are all kinds of things that have remained high on the agenda whenever president obama has sat down with his chinese counter part and i m confident