Rational business. He also has worked in the clinton administration, the u. S. Department of commerce and speechwriter and chief aide and senior economic issues. Also he has been involved in a number of Media Outlets and reporting for which he received among other honors the best business column distinction by the weak magazine. Of course aubrey hruby is at home here and i would like to announce the like all great books, it is already out of date. I am not trying to hamper sales but it is always listed on the cover as the visiting fellow, delighted to make public that with the approval of the executive office of the Atlantic Council, aubrey hruby is senior counsel at the Africa Center at the Atlantic Council so we are delighted on our continued association. [applause] aubrey hruby has had a distinguished career working on a number of project over in the years before either of us came to the Atlantic Council and our share of war stories from various friends in africa. Aubrey hruby was m
Markets at the moment, or down down is likely because investors were disappointed by president johns actions. The strike President Trumps actions. Funding the enterepreneurs well meet the man whose bank specialises in getting cash to small businesses. Rishi khosla , the boss of Oaknorth Bank will be here. And United Airlines, still trying to deal with the fall out from their overbooked flight, will now offer up to 10,000 to give up your seat. What would be your price . Let us know. Just use the hashtag bbcbizlive. Hello and a warm welcome to Business Live. Welcome to the programme. We start with President Trump because once again hes taken the Business World by surprise. The white house has confirmed it has told the leaders of canada and mexico they wont be scrapping the north American Free trade agreement. But instead they will seek to renegotiate the terms of it. President trump has repeatedly vowed to pull out of the pact bill clinton signed in 1993. In september he called it the Si
First we start off with the market, stocks surging today, posting their best gains since midmarch. Rallying by more than 1 . Heres what was really interesting. Stocks rallied along with the dollar, along with crude, while we watch bonds sell off. Are we finally breaking out of the range and it is now time to finally give up that bear suit . Biggest bear on the desk, b. K. Oh, me . You and your bear suit. First of all the answer is absolutely not. Primarily because b. K. s not in the habit of buying into a major Monetary Policy mistake. If the fed raises rates, its going to be a huge problem. This is a one day event. We were down the other day. Weve gone nowhere. The one thing i will say that concerns me from the bearish side is everybody seems to be bearish at this point in time. You could get this fomo rally. Thats the one thing that concerns me. Beyond that, nothings changed fundamentally. We had horrible industrial numbers today. The dollar is rising. If the fed raises rates, the do
Hence why the averages keep getting hammered. Nasdaq plummeting over 3 today, a truliy hideous day. A wakeup call for everyone who ignored our repeated warnings. First up, commodities. Its no secret that china is not just slowing. Its industrial demand seems to be downright exhausted. Which means all companies that help extract or produce commodities are performing horrendously and will continue to do so. Why dont we start with one of the lowest cost pouroducers of iron ore is the colonssal brazilian mining company. The price of iron ore has been cut in half in this year alone. Two companies are gigantic producers along with tons of small producers. You need iron to make steel. But right now we dont need steel. Theres way too much of it. So iron is getting crushed. Im just using this as an example. Plus brazils currency is being annihilated. If you own this stock, youre getting killed both ways. The other two major iron producers, theyre not much better. How about copper . The biggest
That is what matters and it is not clear from todays action. Dow ultimately declining 6. S p advancing. 16 . Nasdaq climbing 3. 2 . We can call it mixed nevertheless it was still a day where the averages looked fabsz at one point but the gains couldnt be sustained. Because there are still so many unresolved issues impacting the overall direction of this treacherous market. Remember i told you yesterday we needed to see stability in a variety of areas before we got an investable bottom . Many people on twitter said the list was too difficult. It was really a canard a strong man, that nobody could get any sort of rally because i set the barr too high. That is not true. I look at what ive looked at for the last 44 years and i came up with examples. Look at some of these. First i said that europe had to stabilize, which i discussed last night as part of the negative impact from the war of sanctions between russia and the west over ukraine. When i got up this morning the european markets we