Impact change. That will be focused on the rise of technologies, this is about 90 minutes. I would like to welcome you to our forum on Financial Inclusion, we are web casting this event live, so wed like to welcome our viewers and also those of you who have tuned in via cspan for those of you who are wishing to post comments during the forum, we have set up a feed at financialinclusion, you are willing to make any comments you would like. There are nearly 2 billion adults globally, who do not have Bank Accounts. This makes it difficult to Access Financial services, pay bills or transfer money to relatives. In those situations, its difficult to be an entrepreneur. The good news is that many nations have made commitments to expanding Financial Services to the poor, they understand that Financial Inclusion is vital to economic development. They are developing Financial Inclusion policies and implem t implementing a new framework that encourages inclusion, today, robin lewis and myself are
Programme they will be. The Paradise Papers show how britains off shore empire helps the rich and powerful dodge tax. You have an non transparent system dodge tax. You have an nontransparent system we do not have a non transparent system. Nontransparent system we do not have a non transparent systemlj cant see it. You dont count. How were all losing out because of it. Every time they close a school in your neighbourhood. Every time they have to close a hospital, a lot of that happens because rich individuals and corporations are not paying theirfair share individuals and corporations are not paying their fair share of the costs of society. We expose the british tax havens happy to help people beat the taxman. Will you apologise, if a law was changed here to help tax dodgers . If that has happened as youre stating, yes, i will apologise. Weve found a new tax dodge used by the worlds most Profitable Company. You can see them as this fantastically innovative it company but you can also se
The spectrum. We look at Asset Classes and gold and yen and, looking, of course, the geopolitics. In the meantime, this is what the data is telling us. A reminder for all of you americans, it is Independence Day. The markets in the u. S. Are closed, which means we are seeing a little bit thin trading, a selloff in risky assets globally as north korea claimed a successful Intercontinental Missile launch. Havens both advancing. You can see the vix a touch up at 11. 22. We will have plenty more on the markets but lets get to the first word news. Nejra speaking of risky assets, oil has halted gains after the longest winning streak after rude shows that opecs c production rose to its highest level in june. The increase came from libya and nigeria which are exempt from making cuts under the deal agreed between opec and its allies. Janet yellen was hospitalized over the weekend and luncheon for treatment of a Minor Infection and is heading home. Yellen was admitted on friday and released yest
Points at 13,113 and nasdaq at 2 plus point, 2988. The s p struggling, down a tiny fraction now at 1412. It could have been worse if not for the better than expected gdp. Investors still worried about the Corporate Outlook and apples disappointing results last night. The looming fiscal cliff and election and on and on. Here to help us in the closing bell exchange, stephanie link and Steve Leesman and peter sh ii shiff will join us as well. 2 3rs is not enough to sustain, putting the unemployed back to work and taking idle factories and putting them back to work. The consumer seems to be hanging in there. The negatives seem to be a big part of it was defense spending, 0. 7 of the 2 was defense spending, although that was a pay back for 3 4 of declines weve had. This needs to turn around to have a good recovery and have this economy firing on all cylinders, thats not been the case and business seems to be holding back. Stephanie, youre blaming the uncertainty over the election, right . Y
Of 2013, but im back now. In corporate news, boeing completing what it calls an uneventful test, a flight of the 787 dream liner. And opposition is growing to dells big buyout, that 24 billion buyout and a Carnival Cruise ship is floating in the gulf of mexico after an engine fire. Plus, digging out, the northeast hit hard by a weekend blizzard. Hundreds of thousands are still without power. Airlines are trying to restore service. And news out of the vatican about the pope. If you havent seen it, well bring you that, as well. Its monday, february 11th, 2013. Squawk box begins right now. Good morning. Im Andrew Ross Sorkin along with joe kernen. Becky is off. Breaking news, the vatican has Just Announced the pope will be resigning on february 28th. The blizzard brought as much as three feet of snow to some areas in the northeast. Here is the Massachusetts Governor. Were, woulding hard to make sure that the t is fully functional by the morning commute. Utilities seem to be making progres