Here is scarlet fu. This is a betterthanexpected read on the Manufacturing Sector here from the philly fed. 7. 5 when it, as were looking for slight uptick to 6 from the prior months rita 5. This is the Philadelphia Fed business outlook. You can see this slight move up is from five to 7. 5. We are long way off from the peak of the end of last year at 40. Weve seen softness in the Manufacturing Sector take root because of the stronger dollar and a drop in oil prices. That seems to be improving for this particular index. Earlier this week, the Empire Manufacturing number came in with a negative read. There is still a lot of debate over whether manufacturing has bottomed out and were ready to see an uptick. As the dollar stabilizes and oil stabilizes, perhaps we can look at some stabilizing and the Manufacturing Sector as well. In the same index, new orders index at 0. 7 versus 3. 9. In terms of effect on markets the s p 500 down, nasdaq holding onto their losses. No real change as a resu
The former world cup goalkeeper for the u. S. Talks soccer over the next hour. First lets get headlines. Thank you. Barclays is in legal hot seat being sued over allegations they gave traders unfair advantage. Eric schneiderman is accusing the bank of falsifying marketing materials. In after the bell earnings, they are tumbling. This after the home good retailer profit fell. The u. S. Economy shrank 2. 9 in the first quarter. That is more than forecast. The worst reading in five years. Gdp was hurt by a slowdown in health care spending. Now to the big aereo decision. The u. S. Supreme court ruling it violates the copyrights of broadcasters. It is a setback for aereo and aereo only. There are arguing before the Supreme Court was to mislead the court into thinking that we were going to be hurting consumers. What the consumer gets is the highest Quality Programming which costs a lot of money to produce. They will continue to get that. What area was doing was taking our technology and sell
Goalie. The former world cup goalkeeper soccer over talks the next hour. First lets get headlines. Thank you. Barclays is in legal hot seat being sued over allegations they gave traders unfair advantage. Eric schneiderman is accusing the bank of falsifying marketing materials. In after the bell earnings, they are tumbling. This after the home good retailer profit fell. The u. S. Economy shrank 2. 9 in the first quarter. That is more than forecast. The worst reading in five years. Gdp was hurt by a slowdown in health care spending. Now to the big aereo decision. Ruling. Supreme court it violates the copyrights of broadcasters. It is a setback for aereo and aereo only. Before therguing Supreme Court was to mislead the core into thinking that we were going to be hurting consumers. What the consumer gets is the highest Quality Programming which costs a lot of money to produce. He will continue to get that. Takingea was doing was our technology and selling it to the consumer. The decisioned
Amazon slashing the prices of its new fire phone. Amazon does not release its sales but this dramatic price cut comes six weeks after the fire phone was released. Ebay is going to start excepting bitcoin in the coming months. They will work to enable those payments, which could open up the possibility of Virtual Currency in millions of transactions. 800 investors packed the room in new yorks famous waldorf astoria hotel. Founder and chairman were hit with a number of questions, particularly Corporate Governance issues, corporate this is according to people who were inside that meeting. It is the first of many roadshow meetings that will take executives from the Ecommerce Company around the world, everywhere from San Francisco to hong kong and beyond. Leslie was at the waldorf astoria you tell me what you heard after the meeting was underway. , i was not allowed to go inside the roadshow. Those are closed meetings to the press. What i heard from investors is a got questions answered reg
In emerging markets. Hit 100any says it million active users in africa, 87 of which are accessing facebook via mobile. Way,ile sues chinas wah accusing it of stealing its robot technology. The suit says it stole part of its smartphone testing robot called taffy and even took a piece of taffys arm. Wah way has been described as a National Security threat in court and is a big concern. To our lead story alibaba will start pitching its potentially recordbreaking ipo. Jack mott arrived just a minute ago. Some 500 people are expected to be there for meetings at lunch. Baltimore,mps up for boston, San Francisco and los angeles, then overseas to hong kong. Alibaba could raise 21 billion in the offering, making it the largest in u. S. History if the roadshow goes off as they hope. You are watching bloomberg west. Im cory johnson in for our Bloomberg Ipo reporter joins emily chang. Tesla has just expanded in to us from outside the waldorf astoria in new york. Eight the scene for me. Japan, deli