With aaron and World Business report. Never mind those Exploding Phones samsungs on track for its best profit in years and pledges to put the Galaxy Note 7 debacle behind it. Plus, technology, trade and trump. The boss of sony tells us why goods and information must keep flowing freely. Welcome to World Business report. Im aaron heslehurst. Also coming up, mr trump locks horns with toyota over plans to build a new car plant in mexico. But first we start with samsung. In the last few hours South Korean Tech Giant has said its on track for the best quarterly profits in more than three years. Its a major boost for the company after the exploding Smartphone Scandal that put a serious dent in its reputation. Lets give you the numbers. In the three months to the end of december, samsung is forecasting profits of 7. 8 billion. Thats up by half on the same period last year, much better than expected and the best quarter since mid 2013. That might come as a surprise as we know samsung was force
Dan what is next is that we have reported that mr. Renzi, according to one italian news agency, has already met with the italian president. He has to formally submit his resignation and then resolve this political crisis, turning it over to the italian president , who will hold probably two days of Political Consultations with the leaders partiess political before deciding on a mandate government for the country. David a lot of focus was on the italian banks and what this would mean for the italian banks. Do we have any sense of the answer to that question . There aretle bit, but still a lot of Unanswered Questions so far. , the worlds oldest bank is in the midst of a 5 billion euro Capital Raising plan. It has started the first leg of that. The board is probably meeting today. They are likely to put out a statement to find out what happens next. Are they going to proceed with this plan or perhaps postpone it, given that while markets are not as volatile as people expected today, who k
What is going on with this market, you have seen selling since the election basically. We are down six of the last eight weeks. Majority of the dow opponents have come under pressure. The vix, the fear index, to the upside. I cannot tell you how many people were asking me about todays jobs numbers. Obviously, we have had Hurricane Sandy to contend with. We have our bed numbers then and they were also disappointing. We are still remaining under pressure. Lori the fiscal cliff front and center this week. Rich edson is in washington with the latest. Rich since the election, they have been staking out their opening fiscal cliff positions. For the president and democrats, increase taxes on those earning more than 250,000 a year. Opposing republicans who want no increases. It is politically unsustainable and the policy makes no sense for them to say that nobody in the country gets extended tax relief unless higher income individuals get a bonus tax break. An opening bid of 1. 6 trillion in n
Despite the first decline in german Investor Confidence in about six months. The roadmap begins with a slew of bigname earnings, verizon, j j and travelers and delta beating estimates well break down the quarters of each. Taking a large position in dow chemical calling for a Strategic Review. And attention Business Travelers the eastern half of the u. S. Bracing for another big snowstorm and biting cold, well get into that, but first, its a big morning for earnings. Three dow components in the mix, verizon and j j and travelers beating the streets with their quarterly results. Outside of the dow Delta Air Lines did also exceed consensus with profit of 65 cents a share helped by lower fuel costs. Lets go through the big dow names. Bus unlike last week unlike last week almost uniformly good. I like what verizon had to say, buzzing about it with david beforehand. I like the earnings per share. I really like the Revenue Growth. I like the churn. There was a discussion about churn. Still be
Top list of the most expensive thing, because i think its about 7 billion to get that one done. He says next in line for commuters, the opening of the tunnel, which could happen by the end of this month. We were a little bit nervous that if we had delayed opening of theb theyd beat us to it. So theyll be opening in the next several weeks. Reporter juliette, allen, steve told me they learned a lot of lessons, obviously, on this particular project. They say it will help them probably when they have to take on high speed rail. The cost of that one here in california estimated at 65 to more than 80 billion. Wow. So get ready. Thats the grand daddy. Yeah. Looks like smooth sailing behind you, but were there any problems during the weekend closure, ken . Reporter he said he had one that came up a little bit unexpectedly. That is why they planned about a day and a half float time to get things that are unexpected. It was the oakland touchdown. It was the demolition of all that concrete and ro