Place in his new disinflation is the new wildcard. We will examine the bill gross departure from pimco and we begin with julie hyman and the latest of elements at pimco and Janus Capital. Good afternoon. The financial world is reeling and trying to figure out what was behind the departure of bill gross from pimco. One could argue that perhaps some of the warning signs or flags were there. The firm has been in tumult for the last year or so following 16 trade months of redemption to its flagship ones which is the Worlds Largest bond fund. That was downk of 200 33 billion and now down to 22 billion in assets. Bill gross is leaving the firm he founded back in 1971. There had been some infighting as well at pimco and there was the departure of his top lieutenant, Mohamed Elerian who went to the Parent Company alley ons as a Global Economic adviser. That is the background here we have seen. Hass going to janus which struggled to get its fixedincome business up and running. We talked to jack
Sachs leverage finance conference with a number of exclusive interviews, including the banks chief european economist and the cfo of europes telecom giant. Youre watching worldwide exchange, bringing you Business News from around the globe. And were just getting news out of italy. Rates came in at 12. 3 for all in july. It was 12. 6 and its expected to stay at 12. 6 . It came in lower than expected at 12. 3 . The youth Unemployment Rate hit a new record high of 44. 2 in august. So the overall rate is falling, but the youth Unemployment Rate going up. Were getting some data on the health of the german labor market. The seasonally adjusted jobless rate falls to 2. 8 million. German september jobless unadjusted rate was at 2. 65 . Slightly lower. But the adjusted rate was 6. 7 . Obviously, a lot of focus on germany. It can rely on growth, were talking about the biggest economy in europe. A lot of questions or concerns around what further sanctions in russia will do to germany. Absolutely.
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