3 trillion is not what it was 10 years ago or 20 years ago. Many of the problems they face are more like the problems of an airline. Most stupid statement of energy i have ever heard. North k a look at oreas energy economy. Straight ahead on bloomberg best. Hello and welcome. Youris bloomberg best, weekly review of the most important business news, analysis and interviews. Theday by day look at weeks top headlines begin with a shakeup in saudi arabias cabinet that could have major implications for the global oil market. Saudi arabia appointing a new oil minister over the weekend. The chairman of the state oil ho hasy replacing w held the post for two decades. For thethe question market is whether anything has changed in terms of policy coming out of saudi arabia. Has it . I think if anything it is probably more policy. He was the architect of the agreement and 2014 to abandon the support of High Oil Prices and go for market share. Hes probably a very similar to nahimni but the rhetoric
Ago. Many of the problems they face are more like the problems of an airline. Most stupid statement of energy i have ever heard. Plus, a look at north koreas energy economy. Straight ahead on bloomberg best. Hello and welcome. This is bloomberg best, your weekly review of the most important business news, analysis and interviews. Our day by day look at the weeks top headlines begin with a shakeup in saudi arabias cabinet that could have major implications for the global oil market. Saudi arabia appointing a new oil minister over the weekend. The chairman of the state oil company replacing who has held the post for two decades. I guess the question for the market is whether anything has changed in terms of policy coming out of saudi arabia. Has it . I think if anything it is probably more policy. He was the architect of the agreement in 2014 to abandon the support of High Oil Prices and go for market share. Hes probably a very similar to naimi but the rhetoric will be more various very
Up italys troubled banks . So, welcome to the program. This is the pulse live here in london. First things first. Lets check on the market. Overall, we are seeing a lot of european shares on the downside. We had disappointing news in terms of earnings coming from japan. We also had disappointing figures from a cement company, goes to construction. It is the backbone of the european economy. I want to show you the pound. Later on, it is the last time we hear from mark carney and the r expectations for Interest Rates. The last time we hear from them before the june 23rd referendum. A lot of banks are under pressure. Now lets get straight to the bloomberg first word news. In Mitsubishi Motors have jumped by 16 after confirmation it is in talks with nissan, including for a possible capital tie up amid a fuel economy scandal. Nissan is seeking a 33 stake in Mitsubishi Motors. Credit agricole reported a decline at First Quarter profit. Net income fell to 227 million euros. Therading revenue
Heres a rally thats not supposed to be happening. [ buzzer ] this one just wasnt in the cards. Sure, tuesdays session, day one of a rally at the britishinspired brutal selloff. That makes sense. Weave ve just gotten through w two of the worst sessions. Day two also seemed like an unusual but reasonable possibility, because we had a big takeover, surprises, rally in oil, but today . Today when the dow gamed 235 points, and the nasdaq at 1. 33 . This was outrageous in its audacity. So few people believed that it should be allowed to take place. It was a totally unexpected surprise. [cheers and applause] let me explain. Go back to a week ago, today. We had just gotten pretty close to surety, surety that the remain camp was going to win, that there would be no brexit. That the European Union would be preserved. And a house divided against itself was going to stand. And i remember boarding a plane back to new york from San Francisco with my daughter, just before the first returns were in. T
A slightly lower open. European markets have, well, weve been hearing from the ecb although not much action, there it is, at least the equity markets at this point lower, though fractionally so you have to say. How is the 10year note yield doing and crude oil, theres a look. 1. 6, 1. 6. Wow. Things are getting crazy there. Crazy. Wti you can see is right around 45, 50 or so this morning. Lets get to our road map. It starts with day four of the Republican National convention in cleveland. Ted cruz was booed, mike pence delivered his speech, and they are gearing up for trumps speech tonight. We will go there live. Elon musk is revealing his master plan for tesla. Part two, by the way. How realistic are his bigtime ambitions for this company . Qualcomm, intel, ebay, southwest, and more, all are on the move this morning after earnings. In fact, i mean it goes on and on biogen, travelers, american express. We will try to get to all of them or as many as we can, give you the numbers you need