Cooler numbers marks the fed has reached the end of the hiking cycle. And siemens has a net quarter loss the ceo tells cnbc it will take years to work through the challenges keep in mind the charges are provisions for the future. We expect this over the next year to evolve and it will take us twotothree years to work through this of and berkshire jumps to 150 billion with Warren Buffett posting a 7 rise with chevron paying off for the oracle of omaha. Very warm welcome to street signs and special because it is the first time in over a month were back together. We calculated it. Five weeks we havent done the show together. I missed you. I missed the show. It feels good with that, i guess we should talk about aramco. A hard pivot. Lets get to it. The earnings do continue to roll in this time from aramco with 40 plunge in Second Quarter net profits with low oil prices with refining and chemical margins. Dan has been pouring through the numbers. Dan joins us now dan, it looks as aramco wea
Friday following the jobs reports and the apple drag in the amazon drag. Asia though, we are coming off a little bit, if youre looking for us in aligning. 167 on the benchmark right now. A little bit of a pickup following the china open. Indonesia coming online. Hang seng is flat. Oil is very much in focus today. We are coming off a little bit of highs earlier on. We are getting some upside as far as the shanghai contract is concerned. You are getting a followthrough move in wheat prices in the early goings this monday. 2. 5 , 650 a bushel on wheat. Conversations around no recession, soft landing, no landing. Yvonne yeah, you have u. S. Funding needs versus what the demand for bonds overall being weighed on the back of what we saw last week. One of the worst weeks when it comes to global bonds as well as stocks. For some time now, its the start of something. Certainly want to watch. Especially when you are starting to see china not really emerge from this postcovid recovery in the way
From Francisco Blanch we welcome cal ron causing and keith lerner, both here. Good to see you both we can frame this, cameron, as this is perfectly routine, the s p had a total return of 20 in just, its very normal if its a bull mark to have this happen, maybe even something deeper. On the other hand, we havent benefited from further evidence that maybe we have an economic soft landing so take your pick. I think its the combination of all those things. We think its probably right to start asking the question, did he wit the valuation ceilings. They were up 50 from the october lows, so how much further could they run the certain aspect is yes, weve had the earnings beat, but they havent resulted in earnings revisions higher, soens comer in better than expected, but were not raising estimates, which help to point to this sidewayings chop its certainly consistent, but you have folks from either side saying we have no landland. It seems as if we might have a reacceleration in the economy,
Going to be able to turn things around straightaway, but we will get to work on all of that. And hollywoods biggest night kicks off later with all eyes on oppenheimer to see if it can break the record for the most wins at the oscars. The budget the government unveiled on wednesday has left the Shadow Chancellor with a major headache. Jeremy hunt cut National Insurance by 2p for the second time in six months, as well as adopting two of labours policies, which it planned to use to Fund Breakfast clubs in schools and extra nhs appointments, if the party wins the next election. Earlier, the Shadow Chancellor, Rachel Reeves spoke to the bbc s Laura Kuennsberg and started by talking about how they plan to raise money now. We are committed to the extension of working rights, including banning the National Welfare and is a key component of our growth plans, and britain has never had one before. The idea is to live it in private Sector Investment alongside a Government Endowment to invest in so
The truth is taxes are still going up. People feel worse off because they are worse off. So this morning, we have one big question in what direction would labour drive the economy . The woman in charge of the partys calculator, Rachel Reeves, who wants to be the next chancellor is here. The budget promised extra cash to get more bang for taxpayers bucks in the Health Service. Well ask the health secretary, victoria atkins, what difference that will make. And whats it like when your body wont do the Amazing Things you used to do the lead singer of del amitri tells us how parkinsons hasnt stopped him taking to the stage. Morning, morning. Helping me out at the desk for the next 60 minutes, chef and green campaigner Hugh Fearnley whittingstall, john lewis boss dame sharon white, and lord michael howard, former conservative leader, and one time Shadow Chancellor, too. A very warm welcome to all of you. Making the news this morning. The sunday times says Boris Johnson went to venezuela, and