Ricardo rakes it in. Helping the luxury group burbery grow and missing estimates in october as cnbc learns trade talks with the u. S. Has hit a snag and learning that canceling tariffs is an important preseason. Good morning and welcome to the show daimler has warned earnings in 2020 and 2021 will be negatively impacted by cost cutting plans a new strategy to stream line business and improve efficiency. It needs to, quote, significantly increase its financial strength at Mercedes Benz it plans to cut workers. Daimler is down 3. 3 volkswagen down, bmw down 0. 1 in france, renault down almost twothirds a percent and ferrari also performing negatively why do you think daimler is doing this looking around, all of the shares, they are all facing a lot of challenges. I dont think it is anything specific to daimler. I think they are all facing global trade uncertainty and steel factories where they might be underusing their capacity they have put a lot of money into r d for future technologie
Less bright than they might appear in the German Economy thats according to a survey of chief Financial Officers conducted by Management Consultancy to lloyds it found a shop drop in both investments and recruitment which levels the lowest in 7 years the Auto Industry engineering and chemical sectors of the most pessimistic especially in investments the Banking Sector trails in recruit but the survey showed c f os were most concerned about a full kastrup in domestic consumption in the coming year just digitisation came out as the one area they are still happy to invest in. Lets go to Chelsea Delaney of financial correspondent in frankfurt chelsea just how bad is the situation because i mean germanys just narrowly missed a recession it is basically stagnating wouldnt investments from both the public and private sectors be exactly what the doctor ordered. Well thats what economist investors have really been begging for over the past couple of months investment is really the really the be
Important problems can become a long term business model. And imagine a 19 hour flight crammed in economy falters completes a double sunrise test flight from london to sydney. And mentors will and thats the business things are less bright than they might appear in the German Economy thats according to a survey of chief Financial Officers conducted by Management Consultancy to lloyds it found a shop drop in both investments and recruitment with levels the lowest in 7 years the Auto Industry engineering and chemical sectors of the most pessimistic especially in Investment Banking sector trails in recruitment the survey showed see a photos will most concerned about a full cost drop in domestic consumption in the coming year digitisation came out as the 1. 00 area theyre still happy to invest in. Lets go to Chelsea Delaney of financial correspondent in frankfurt chelsea just how bad is the situation because i mean germanys just narrowly missed a recession it is basically stagnating wouldnt
Nasdaq up by 33. However the new york fed, bullard as you mentioned and others are pushing back on this idea that a bigger cut will be coming the new york fed itself putting out headlines saying that speech was not about potential policy actions at the upcoming fomc meeting, this was based on Academic Research done by John Williams i dont ever recall hearing the fed walking back what somebody was out there saying a lot of fed president s have spoken to us over the last 10, 12 years at this point pushing become a bit on that. Lets look at what happened overnight in asia. You will see the nikkei was up by 2 . Big swing back for it. Hang seng was up by 1 the shanghai up by 0. 8 . Again, the nikkei reversing course after the weakness we had seen the day before. European equities this morning, you will be seeing green arrows there. The dax is up by 0. 3 . The cac and ftse up by 0. 2 . Italy and spain weaker italy down by 0. 9 look at the treasury market. Right now on this friday were headin
Individual stocks literally minutes from now. All right. Watch out, google. Peter thiel is coming after you and so is the president. Thiel appeared with Tucker Carlson last night. He wants the fbi and cia to investigate. He implies google is a National Security threat. He thinks china wants to infiltrate googles Artificial Intelligence operation. He offered no evidence of that infiltration. Now, thiel is a very powerful man and the president has been listening. About investigating the company, the president tweeted the administration will take a look. Googles stock this morning, this tuesday morning, premarket, down eight bucks at 1142. Watch out facebook and its libra currency. The treasury secretary has quote, very serious concerns about its use by terrorist financiers and drug dealers. Theres a hearing about it on capitol hill this morning. Facebooks stock this morning premarket is down only a fraction. A mere fraction. Is this a joe biden gaffe . Hes made promises about his Health