You are looking at 120, possibly 125 on dollaryen over the next 18 months. That is a pretty big call by rbc, but it is not that outlandish. Markets are rebounded from two days of losses. Republicans take the senate. Lame duck president is what you hear a lot about. Will there be a contest against mariota Draghi Mario Draghi . The a look at some of equity markets in the u. K. Us go for oil. Gold is declining this morning. Down by more than 3. 35 . Marks and spencers, this is an interesting report in that general merchandise decline. Nonfood sales dropped by 4 . Rse than the market estimate. Pretext profitability is up. 260 million pounds. That beat analyst estimates because they are not discounting. Margin is king in retail. You saw supergroup and next warning in terms of profitability. Marks and spencer said our margins are intact. Our Gross Margins will be the basis points, 150200, or 1. 5 2 . That is almost double the original guidance. Stocks falling. 404. 7. It could be a moment of
Focus today, the biggest names in Monetary Policy in paris for the International Symposium. Speakers include janet yellen, mark carney and kuroda. Lets bring in our chief economics correspondent on the ground. Simon, we talk a lot about divergence. How much our people worried about this on the ground . They are very much worried. Former elerian, the chief executive of pimco, talking to the conference moments ago and talking about this divergence. It is a big issue for the Financial Markets next year. We are seeing signs of that divergence within the last 24 hours. Just last week, the fed pulling back and ending quantitative easing. Divergence, a big theme of today. Who should be the most worried in all of this . Europe is a big factor. Also, kuroda is here. The bank of japan surprising markets last week. Have beenntral banks pointed in the same direction and now they are starting to move away. This is going to be a real challenge for investors next year to work out where the money is c
Here. That ipo pricing at 14 last night. But right now you cannot get it for that price because you can see there its up to almost 24 bucks on the session. A huge move day one for the Cloud Company despite vocal skeptics. Theyre questioning their profitability. This feels like the debates we were having back in the 90s during the dotcom boom. Im not saying thats the case here, but off booming ipo with people wonder wrg is the money right now. Another bombshell from the president s tax plan. President obama wants to challenge College Change i should say College Savings plans known as 529s so the gains would be taxed as regular income. Right now they are taxedfree as you know as long as the money is used for a childs college education. The president says these plans only help rich people not the middle class and we will put it to the test coming up on todays closing bell. This was all part of the state of the union. Making Free Community college. We have heard jeb bush and others say it
Impossible to live with. Reporter the governor is proposing the selection of a committee to find ways to reduce the universitys cost structure. In the meantime, the speaker of the Assembly Said she would vote against the hike but would work to get the legislature to prove more funds. I think there are other alternatives. I think the system does need more resources and more money. I believe that when i put the legislation forward and im going to continue to work on that. Reporter in the end, the regents Planning Committee voted to approve the hike as protesters continued with their chant. The full board of regents will vote tomorrow. The proposal is expected to pass. In San Francisco, lyanne melendez, abc 7 news. A couple of notes about tuition. There hasnt been any increases in the last couple of years, but tuition has more than tripled since 2001 and since 2008, the state has cut its funding for the uc system by nearly half a billion dollars. Traffic throughalong inters just a real me
Today because not too soon. I am honored to represent detainees regions of india no other American School of irish roots. Their shifty powers of undocumented living in the United States because of their status. They are on a boat returned to ireland to visit Family Friends Immigration Reform initiative in u s senate the us house of representatives is a real opportunity to come strong desire to live. My great grandfather left here in time of stress. Seeking to better himself his family. Too many irishmen and women from every walk of life played a role in creating three of them. Im certainly proud to be part of the great Irish American tradition. O bond between our two countries runs deep and strong and im proud to be here. In recognition and celebration of our times shopping for Immigration Reform and all of Irish American hope that the laws and life when i was living in the shadows to reach their potential. Im going to be according to the United States of america the british on speakin