Type tax reform. Today is day two of the Senate Committee review live on capitol hill. This is just getting under way. It collects input from amendments that have been filed. Because of a larm number of amendments we have processed the modified mark will be given to members later today as has been discussed with our Ranking Member and everyone can then have time to read over the modifications. After that process we will resume a markup tomorrow morning with the modified mark. Before we proceed today i want to make a few comments. I appreciate members participation during yesterdays session. I was glad to hear everyones initial thoughts. However a number of issues were raised that in my view werent additional responses. First is a massive tax cut for the rich. That particular claim was repeated by almost every minority member of this committee. The problem with that is that its just not true. J. T. C. s analysis shouldnt be ignored all together. Secondly there was the repeated claim tha
[inaudible conversations] senate reconsider the consideration of the tax cuts in jobs that and begin by walking through with the chief of staff from the joint committee on taxation following the conclusion of this process which will likely take some time it will be provided to members later today. Because of a large number of amendments we have processed a modified mark will be given to members later today and then everybody can have time to read over the modifications. We will reserve the markup for tomorrow morning with a the modified mark i appreciate members participation of yesterdays session and was glad to hear everyones initial thoughts however the number of issues were raised the required additional responses that characterization the bill as a massive tax cut for the rich that particular claim was repeated by almost every minority member of the committee but it is just not true. The committee on taxation has concluded not only does it maintain the tax code but the largest tax
We have a lot of news to go through and we are looking at the 10 year treasury yield, of course, the markets, and the implications of a divided u. K. , brexit talks, and the macron win. First, lets quickly get onto your data. It is one thing that markets are looking at to see whether there are any tensions or not. Global equities are rising and that is filtering through to europe. We saw stocks in hong kong gaining, as Technology Stocks are beginning after their biggest weekly selloff last week. The yen is falling. Oil is down, and we see little bit of pressure on gold. More on that, but first the bloomberg first word news. Nejra theresa may is to chair an emergency meeting of the countrys Security Response team this morning, as police are investigating a potential terrorist attack after a van plowed into pedestrians outside i a north London Mosque. At least one person died and eight people were injured when a van was driven into Finsbury Park. A forest fire triggered by thunderstorms
After 2016s foreign takeover spree. We have the world covered on daybreak asia. We go to watch the developments out of beijing as chinese mostators watch the prolific overseas dealmakers. And we are watching the e. U. Summit in brussels throughout the morning through this is daybreak asia, coming to you sive from bloomberg asian headquarters. I am yvonne man. Betty is that the wharton global conference. A very busy friday and a happy one as well. Yvonne we are marking the oneyear anniversary of brexit. We have the stress test, keeping an eye out on china as well. First it was anbang, but regulators could be targeting other companies. A lot of big guests on our show with betty. Starting this hour, Geoffrey Garrett in 40 minutes time. On Bloomberg Markets, betty will be speaking to the incoming chief executive of hong kong. Her as have to talk to we start next week, marking the anniversary of the handover. You do not want to miss bettys chat with tom friedman at 10 40 a. M. Hongyou do no
Of detoxing withjuice. The founder of nosh detox will be in the studio with us. And ten years on from the beginning of the Credit Crunch, we want to hear your memories of the crisis and how it affected you. Let us know. Use the hashtag bbcbizlive. Hello and welcome to Business Live. Get in touch with your memories. I know for us, it was the start of ten long years of covering the stories and the repercussions of it. This week the main Stock Markets in the us have had another record run and londons ftse 100 flirted with breaking into record territory. Its a far cry from ten years ago when the global Credit Crunch began. Ten years ago today 9th, august 2007 banks suddenly found that they had billions of dollars in toxic debts that customers couldnt afford to repay. So overnight, they stopped offering loans. The financial crisis that followed cost the british economy over £7 trillion in lost output thats close to 10 trillion. For the us economy, the cost hit a staggering 22 trillion. So