Came as americans drove more. The council also cited lower gas. Rices global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. Live from bloomberg World Headquarters in new york, i am scarlet fu. Joe i am joe weisenthal. Selling phones on stronger retail sales and Consumer Price inflation numbers. Joe the question is, what did you miss . Haslet Andrew Puzder withdrawn himself from consideration as u. S. Labor secretary. Act on capitol hill telling my birth of the house that the economy is in pretty good shape and so are americans, even under doddfrank. Plus, we will hear from the regulatory what watchdog. This thoughts on the future of Monetary Policy and banking regulation. Look at where the major averages stand as we head toward the close. Abigail doolittle is standing by. Moreil another day, records are heading to the close. Day five of simultaneous record highs. The s p 500 now up 11 days in a row. That is the firs
Europes largely flat, same for the 10year as revised q2 gdp is largely in line. It is all about the fed today. Janet yellen speaking in jackson hole. 10 00 a. M. Eastern time. And right here, you will hear from former fed governors randy crosser in, fred mishkin and former and current vice chair of the Federal Reserve Stanley Fischer at 11 00 a. M. Eastern time in reaction to Janet Yellens speech. To our man on the ground Steve Liesman, good morning, steve. Cant get over the dress. The clothes. Thats all right. Its were waiting at about an hour now less than an hour now for Janet Yellens much anticipated speech, but in the meantime weve had really interesting fed speak this morning right here on cnbc. Most of the fed folks were talking to see rates going up. Not willing to be necessarily nailed down to a timetable but Loretta Mester did say just about a half hour ago, that she sees the u. S. Economy improving enough for the fed to raise rates. I think well have some strengthening in th
Brexit. That came up to a 15, 16 month high. Coming to brexit, i just dont know if she has a plan. I think that is the confusion today. Emphasis appears to be on immigration. Represented in the market. Coming up we have several guest. Charles peabody managing director of compass. Is here to talk about systemic increase. Deutsche banks chief economist joins us to help make sense of store for a Europian Union minus one. Time, the market. Lets get the global score card up. Relatively flat in the united states. Percentage point. Today in losed frankfurt. 128. 78 down. Two opposing forces. Throughout the uk is positive. He politics thats whats weighing on sterling. The pound sliding after the pledged rime minister to start pulling the uk out of the Europian Union by march. Theres no such thing as a ifference between soft brexit and hard brexit. Hard brexit is a conscious reject trade is a false dichotomy. Whether people like it or not, the country voted to leave the and that means we are go
That has just been passed in italy. The law requires them to purchase internet ads from locally registered firms. Caroline hyde us with the details. What is the objective here . It is all about clamping down on the shift of taxable profits. Ofis all aimed at the likes google, amazon, yahoo . We know that they shift large amounts of profit around the world to socalled havens. The likes of ireland, luxembourg, bermuda. Italy is trying to crack down on this and they passed a measure saying that if you are going to buy internet ads from a company in italy, you have to buy it from a locallyregistered company. It cannot be something that happens to be registered in ireland. There is plenty of concern at the moment. This law is not without controversy. Some say could violate eu law. This is what many lawyers are saying. As it stands, the measure does not hold above water when you look at eu law. They say it is a violation of competition law. They are trying to force the hand of the oecd. They
With money running over it. Its more of a gradual slope, but we have to stop the downward slope that were on. Its important that we do that. And this is a body that can do that. Congress can do that. We do a war of words around here, this protecting the rich sticks. I dont know of anybody thats trying to protect the rich. The problem comes into the definition of rich. Thats a hard one to explain. And any attempt that looks like that goes back to the sticky word rich, which nobody is trying to protect. I used to be in business. It was one of those i was one of those Small Business men. And i know that at the end of the year the business would show a profit. Unfortunately, we couldnt take the money out of the business if we were going to continue to grow the business. If we were going to put more people on. That meant that we needed to have more product. That meant we have to have more investment in the business. So the money that we could have taken out that showed as profit actually we