Shares in Goldman Sachs fell 2 . The catalyst was moodys, downgrading the Credit Rating on several small and medium sized us banks, including mnt bank and pinnacle financial. The red flags raised by the Ratings Agency included a potential recession, as well as problems tied to the commercial real estate sector. As one analyst put it, any doubts about regional banking is bad for market sentiment. That wasnt helped by data from new york federal reserve, which showed that for the first time, americans owed more than 1 trillion on their credit cards. Traders have also been focused on corporate results, which so far have been better than expected. That was true for lyft, which reported results after the us market closed. Uber s small arrival is forecasting higher revenue in the Third Quarter based in part on a post pandemic rebound in ridesharing. Meanwhile, Electric Vehicle maker rivium posted a narrower lost than expeted and raised its Production Guidance for the full year. Meanwhile, Nin
The programme. Turning back time on a family business. Later in the programme well speak to the young entrepreneur whos hoping to revive the watch making company set up my his ancestors. And according to the trade union congress, todays the day that an average Chief Executive in the uk has earned as much as an average worker in a whole year, so we want to know, are they worth it . Just use the hashtag bbcbizlive. Welcome to the programme. In a few hours well receive the latest Inflation Figures for the Eurozone Economy. The block managed growth of 0. 3 in the Third Quarter of last year and a sustained rise in prices could lead to the scaling back of the European Central banks de facto money printing program. As you can see here, there has been a marked improvement in the rate of inflation for the block and in yellow you can see the 1 Inflation Rate that economists are predicting for the last month of 2016. Although this is still some way below the European Central banks Target Ofjust u
well, the country that experienced deflation orfalling prices back in the 1990s is now seeing the opposite. we are talking aboutjapan. inflation injapan has been hovering at around a ito year high, and that means that despite a rise in wages, consumers aren t feeling the benefit. in fact, household spending has slipped for a fourth straight month. earlier, i spoke to consumer sector specialist nobuko kobayashi, who explained by people aren t buy more despite the wage hikes. thejune the june number that was out that shows that year on year growth on household spending was negative for four consecutive months, he was negative in june consecutive months, he was negative injune by 4.2%, and this is damaged by the growth that was real negative, this was negative for 15 consecutive months. so that s a balance of the nominal group offset by the wage increase. that s been around 2 3% plus, which is good news, but the cost increase has