Business news live from singapore. The chief Janet Yellens swansong as she chairs the last meeting this week. What can we expect on us Interest Rates . And young tech entrepreneurs in taipei are ditching the traditional culture of playing it safe. Welcome to Asia Business report, im sharanjit leyl. Now, it is the key week for the federal reserve. Janet yellen will chair the last meeting of the federal open market committee, or the fomc, before handing over the reins to jerome powell, and the two day meeting will end on wednesday where it is expected to keep rates unchanged. Other items on the calendar this week include the United States and south korea entering into their second round of talks to try to salvage their troubled bilateral trade agreement. That also happens on wednesday. And on thursday we will see the titans of the tech world, the likes of alibaba, of the tech world, the likes of aliba ba, alphabet, and of the tech world, the likes of alibaba, alphabet, and amazon, postin
Says those affected by last weeks hack will be reimbursed. Betty it is a gamble on the bitcoin markets, but sometimes with the ball wrong you feel like you are gambling if you are buying into the bull market. Busy thisbe extremely week, lots of data in the u. S. , john stayed on friday, the fed meeting, Janet Yellens last, and i want to pull up this chart. 9379, it is really on peoples minds. He melt up so to speak it shows you historically that if you look at what happened with other bull markets, this is the one that ended up in the crash in the 2000s, and this is the 1920s will run that ended in the huge crash in 1929. We are not even there yet. If youre looking at patterns, were not even in the melt phase these longer bull markets were in, it could be some reassurance for those who believe we are at a peak. Yvonne its quite interesting, you might not be able to call it a melt up. The stats are incredible, the s p has been traded within 5 of its record high in 399 days. We have not
The 29th march next year is when the uk government insists its leaving the eu. The second is 31 december 2020. Thats when the eu wants the so called transition period to end. And brussels says the uk will stay in the Customs Union and Single Market until then which means eu rules continue to apply even though the uk will have no say in making any changes. One big disagreement is likely to be over International Trade deals. The eu argues that while the uk is still in the Single Market it cant sign its own trade deals without approval from brussels. But on friday the uks brexit secretary david davis insisted the uk would be free to sign its own trade deals during the transition period. We are hoping to go live to brussels to getan we are hoping to go live to brussels to get an expert view on all of this, hopefully in a couple of minutes we will be able to do that. In the meantime, let us talk to about artificial intelligence, augmented reality, and robotics. Technology is proving a game
Down oil and gas production. Haidi hello from sydney. This is daybreak australia. We are talking about the first major market open. Betty i am betty lou. This weekend has been quite eventful. Just what happened over the weekend with Hurricane Harvey, hurricane category four slamming into texas. The fiercest storm and 50 years. The worst hurricane since 2004. A quarter of the production now expectation is it will not hit the whole of the u. S. Economy but certainly texas itself. Lets get a quick reminder before all of that happened how stocks traded on friday. Watching with bated breath what janet yellen was going to say, she was on message friday. That meant the market did not trade that much, not a lot of volatility as we saw by the end of fridays trade, the dow up 30 points. The s p up 0. 1 . The nasdaq trading unchanged. We have a lot had this week including jobs data in the u. S. , likely to dominate the chitter chatter in the market ahead of the data on friday. That is a mixed ope
North korea despite the latest missile tests, three, in fact. There is a lot ahead to kick off the trading week. I want to start with one story that may not be on everybodys radar, but certainly in california. As we speak may be holding a meeting where they determine afterll be the next Ceo Travis Kalanick was ousted. Overesting developments the weekend. The former ge ceo took him out of the running to lead uber. , i haved, in fact decided not to pursue a leadership position at uber. I have immense respect for the company and founders. Not sure what happened there, but there was speculation that jeff did not like the chemistry of the board. Took herselfwho out of the running, she seems to be back in the running and may be voted in as the next ceo of this company. With all the diversity problems we have in hearing, having a woman lead uber is not the worst thing for the board. It could be a boost to the image of uber after the tumultuous time we have seen. Saying ieen on twitter am not