The England Rugby team. And remember you can get in touch with us, about any of the stories were covering this morning. Just use the hashtag bbcbizlive. Hello and welcome to business live. It isa it is a busy show, so lets get started with news that. London city airport has been closed after a World War Two bomb was found nearby in the river thames. The royal navy are removing the device. The airport will be shut all day and all flights have been cancelled, affecting up to 16,000 passengers. Last year, more than 4. 5 Million People used london city airport, which is close to londons financial district. Our news correspondent andy moorejoins me now. Welcome. This is the closest airport to the city of london. 16,000 people use it everyday. Tell us about how many will be affected. 16,000 people will be affected today. Something like 200 flights. The airport is used a lot by the business community. A lot of people would have been flying to go to work at ca nary wharf have been flying to go
To prevent these types of things. We talked about it here numerous times and going to continue moving forward in that process. Thanks, guys. Reporter anything on davos . Liz press secretary Sarah Sanders addressing the shooting that happened of course yesterday, that School Shooting where two children were killed, and another 18 were injured. This, of course, was just a horrific situation and there was a tussle and verbal discussion regarding that kentucky shooting. We are watching a whole bunch of metrics in the wake of that very newsfilled news conference. The markets trying to come back here perhaps on the news that Sarah Sanders revealed. Thats that the president will reveal his infrastructure plan this coming monday. Supposed to be a trillion dollars. The dow now up about 43. At one point, shortly after 1 18 p. M. Eastern, the dow fell 103 points after having been up 182. So enduring a 285point swing. Thats a bit of a jaw dropper there. Part of that infrastructure plan includes so
Business confidence is plunging. Haidi more disappointing news from the factory floor and japan , machine orders slumping, Producer Prices staying flat. Rishaad the long and short of it, hong kong stocks being targeted by skeptical researchers. Of course all this Political Drama, the British Election, james comey and his testimony to congress. Having a look at gold. Start toshed in and buy gold at times like this as a haven play. This is 502, a look at the last three weeks. Have had three weeks of gold prices falling. Never mind if you look at gold in sterling terms, but gold is priced in dollars. We could be heading for a negative fourth week third week for gold as well. Haidi thats right. You mentioned that excellent point about gold being a currency play. You look at this chart. It is showing that correlation of the prices metal priced in sterling gaining 2. 2 after that calamitous result in the u. K. Of election. That is very much isolated when it comes to bullion nominated in ster
News for twitter. We start off with the retail getting dragged down. Trump euphoria, colder weather, it should ben nirvana for these guys. Until we get tax clarity, is this group suddenly a notouch, guy . I think it is. We get a lot wrong, this one i think we all got collectively ride. Nordstroms, for example, this stock had a tremendous run up to 60 in november. We talked about it and said, the run in nordstroms, too much, too fast, all the shorts have gotten forward. At 20 times forward earnings, theres no way the stock should be there. We stayeaid, look for a pull ba. All this summer, 48 1 2. Magically, here we are. I dont think you can go out and buy it on this level, but at least valuationwise it makes a little more sense than it did even two weeks ago. You had two things today that hit these retailers. You had personal income come out, which was essentially flat. Its been decelerating since 2014. You also had an mpd group report out saying holiday sales were running 4 below last
Agrees to buy a company for 5. 5 billion. Right, half an hour from the start of the trading week. No trading in the u. S. , Martin Luther king jr. Day. In japan, machinery orders better than expected, the ppi,cer price index, factory gate inflation better than predicted by economists, but still in negative terrain for december. But see how the markets are tracking. David. David thanks. We are looking at a mixed bag. Markets just opening up, taiwan, malaysia. Have a look at singapore. One of the better performers performingthe best market in asia save for the philippines. Mixed. Ight times index,verything else canceling out japan pulling things down, australia, flipped the board, some other benchmarks at the moment. Australia, that comes down to the fact you are getting a decent bid when it comes to the mining stocks, japan, strong japanese yen weighing on that index. Assets. Ook across 1. 20, roughly at those levels. Dollaryen, still close to session lows, 114. At 2. 4 yields unchanged