Its been a long week for barclays Ceo Jes Staley and it ends with him fooled into replying to an email he thought was sent by the banks chairman but was actually from a prankster. Well tell you what he wrote later, but first we want to know have you ever sent an email to the wrong person . Just use bbcbizlive. Hello and welcome to Business Live. We start in europes economic powerhouse, because in the last half hour germany has released gdp figures for the first three months of the year, and they show an economy thats accelerating. It grew 0. 6 on the previous quarter. That translates to an annual rate of 1. 7 . Its being fuelled by Global Demand for the countrys exports, like cars and machinery. But its not all cause for celebration. Let me show you why. Last year germany clocked up its biggest ever Trade Surplus, thats how much more it exports than it imports. At 275 billion, germany has one of the biggest Trade Surpluses in the world. Its a source of tension with its neighbours and a
We are standing by for the White House Press briefing, sean spicer returns to the podium for the First Time Since the firing of james comey. The president shocking many this morning by tweeting, considering stopping having press briefings and issuing paper statements instead. America waiting to find it out if the president was just making a bad joke. That pressure expected live right here. When it begins, we will take you to it. To your top money news. Today, once again, the continued decimation of retailers and their investors money. Today jcpenney and nordstroms. Not impacting your Broader Market investments. Three major indexes are little changed. The dow down a scant 31 points. A little more good news for your money on this friday. Shares of apple and mcdonalds hitting new records. Owner of darden doing well as we bulk up on pasta. Right now lets get back to what appears to be the sad new retail re reality for investors. Jcpenney wiping out hundreds of millions as sales disappoint.
Background briefings to as well to give team traveling from the press corps some logistical updates. Ill be glad to take her question. If you want to go first you may. Thank you sean. Good afternoon happy mothers day weekend. As you know in exactly one week the president will embark on his first trip abroad since taking office. Today want to explain his objectives for his visit to the middle east and europe and it also preview the schedule. The trip has three core purposes. First, to reaffirm americas global leadership. Second, to continue building key relationships with World Leaders and third, to broadcast a message of unity to americas friends and to the faithful of three of the worlds greatest religions. The president prioritize using strong relationships as you see here everyday. With World Leaders as a way to strengthen our alliances. He has been successful. You can see that in his diplomacy with a range of leaders from the Prime Minister he understands America First is not mean
Meantime, the president is the doing a lot of work overtime, going after the media right now. Now questioning the need for White House Briefings as we presently have them. That he is concerned that the way we go about them one gotcha moment after another. Maybe the best way for the media to proceed Going Forward is to give a written he question. They will give you a written response to make sure everything is accurate. He had it with all of this. But for the timebeing, White House Briefing is on. Less than an hour, sean spicer will do the duties today. Blake burman with the latest from the white house. Reporter speaking of work, sean spicer will have the work cut out for him at the White House Press briefing later today, after President Trump set out series of tweets this morning, one click after the next generated one headline after the next. Kind of went through one of them a little while ago there as relates to the president questioning the need for press briefings. The president tw
Bloomberg daybreak europe. From hearing the city of london. Im anna edwards. Lets start by talking about oil. Its been very topical in the last 24 hours. Brent dropping below 45 of arrow, now in bear market territory. What does it do to all the Central Banks . Oilstocks are reliant on revenue. Lets talk about where we been on the inventory story. Too much oil seems to be the basic headline. We are stuck in his air market. Crude inventories slid last week , and thats what you see in the blue at the far side of this chart. But inventories remain above their fiveyear average. 100 Million Barrels above the fiveyear average and u. S. Production is at its highest level since 2015. Opec is aware of this, according to our grant. Consensus is difficult. Radar and at the risk you will see that it looks a little strange if youre expecting the oil story to be rid large across markets right now. Were expecting u. S. Markets to open pretty flat. If you look at the s p 500 energy index, the top perfo