General motors is hoping to get the all clear for the sale of its loss making brand opel. But is the traditional car industry coming to an end . Well get a hands on look at the latest in driverless technology. Welcome to World Business report. Im rachel horne. Today the Eu Commission will decide whether or not to give the green light to General Motors for the 2. 5bn sale of its european operations. Gm is hoping to offload vauxhall and opel to the psa group thats the French Company which owns peugeot and citroen. Its easy to see why General Motors wants to sell their european operation, which is dominated by opel, has lost about 9. 1 billion since 2009. If successful, the deal would make psa the continents second biggest car maker after volkswagen and ahead of french rival renault. Opel employs 38,000 people across europe but its feared the sale could put thousands of those jobs under threat with workers in the uk and germany considered to be most at risk. With me is anna marie baisden,
We will have their ceo with us just before he goes on a conference call. Happened withat the failed coup on friday we want to see what the central bank ones are doing. They left their benchmark rate unchanged at seven and a half percent and cut their overnight lending rate about 25 basis points. We do have the lira depreciating slightly against the dollar. The Turkish Central Bank said it took measured steps for simplification simplification. The lira on the move to the downside. Lets get a check in on the rest of the market. Record highe fifth on the s p 500 in just under a week over a week. Future softer. The dax down by one full percentage point. All 19 Industry Groups on the stoxx 600 have been in the red so far. The ftse 500 down one third of 1 . Germany Investor Confidence absolutely plunging. The fx market, the aussie dollar getting absolutely whack. We have some minutes from the australia centralbank, very dovish minutes potentially setting us up for a rate cut. The dollar is u
Alltime high. The blue chip dow index breaks above 18,000 for the first time this year and not to be outdone, small caps also finished the day at a record. Strong Economic Data out of europe gave the markets a lift early on and hopes that greece and its creditors will reach some sort of deal when they talks on monday. Dow jones rose to 18,019. Nasdaq gained 36 points to fresh 15 year high and the s p 500 was up 8. For the week the dow rose 1 . The nasdaq up more than 3 best week since last october and the s p 500 gained 2 . The Energy Sector was helped by a 3 rise in west texas crude. It is now up nearly 20 from its lows last month. Brent crude back up above 60 a barrel actually above 61 for the first time this year. Both benchmarks have now risen for three consecutive weeks. Whats behind the broad based runup and is a sign the bulls will stay in control . Dominic chu reports. Reporter it may not feel like it for many investors but we are once again at record high levels in the stock m
Alltime high. The blue chip dow index breaks above 18,000 for the first time this year and not to be outdone, small caps also finished the day at a record. Strong Economic Data out of europe gave the markets a lift early on and hopes that greece and its creditors will reach some sort of deal when they talks on monday. Dow jones rose to 18,019. Nasdaq gained 36 points to fresh 15 year high and the s p 500 was up 8. For the week the dow rose 1 . The nasdaq up more than 3 best week since last october and the s p 500 gained 2 . The Energy Sector was helped by a 3 rise in west texas crude. It is now up nearly 20 from its lows last month. Brent crude back up above 60 a barrel actually above 61 for the first time this year. Both benchmarks have now risen for three consecutive weeks. Whats behind the broad based runup and is a sign the bulls will stay in control . Dominic chu reports. Reporter it may not feel like it for many investors but we are once again at record high levels in the stock m
Alltime high. The blue chip dow index breaks above 18,000 for the first time this year and not to be outdone, small caps also finished the day at a record. Strong Economic Data out of europe gave the markets a lift early on and hopes that greece and its creditors will reach some sort of deal when they talks on monday. Dow jones rose to 18,019. Nasdaq gained 36 points to fresh 15 year high and the s p 500 was up 8. For the week the dow rose 1 . The nasdaq up more than 3 best week since last october and the s p 500 gained 2 . The Energy Sector was helped by a 3 rise in west texas crude. It is now up nearly 20 from its lows last month. Brent crude back up above 60 a barrel actually above 61 for the first time this year. Both benchmarks have now risen for three consecutive weeks. Whats behind the broad based runup and is a sign the bulls will stay in control . Dominic chu reports. Reporter it may not feel like it for many investors but we are once again at record high levels in the stock m