Minister of Economic Development maxim rishetnikov proposed his own way to solve the problem of ruble volatility and high inflation. Standard methods of currency control, according to him, do not work, so it is necessary to study the chinese experience, analogies, and he decided to borrow from the science of biology. From our point of view, we kind of carefully studied, we, of course, need to do, well, probably some kind of, lets say, analogue of the chinese model, that is, when there is still some kind of membrane between the internal external ruble market ruble market. China has a single currency, the yuan, but it is divided into two rates, onshore or domestic offshore or foreign exchange, how they differ, the former is traded on the territory of mainland china, while the offshore yuan circulates. Beyond its borders, the Exchange Rate of the former is under the control of the peoples bank of china , the base rate is published every day, transactions can be completed within 2 of this
We past the largest tax cuts in this countrys history along with other things. The vote was close. There we re things. The vote was close. There were so many things. The vote was close. There were so many last minute changes to the bill that senators had to scribble them in the margins. Democrats say the package will benefit big business and the wealthy. Republicans believe it will help the middle classes. For the administration, it was a welcome distraction from the other drama. Donald trumps former security adviser Michael Flynn pleading guilty to lying about the fbi about his meetings with russians. The former three star general played a key pa rt former three star general played a key part in mr Trumps Campaign and lead this chant about Hillary Clinton which will live in infamy. Ifi clinton which will live in infamy. If i did clinton which will live in infamy. Ifidida clinton which will live in infamy. If i did a tenth of what she did, i would be in deal today. If i did a tenth of
Set to get the green light. Well assess the possible impact. And well be getting the inside track on the changing world of cinema. The global audience for traditional theatres is dwindling, so will new ways of watching movies lure us back to the Silver Screen . Today we want to know, are you a fan of the cinema experience or is streaming your movie the only way to go . Let us know. Just use the hashtag bbcbizlive. Hello and welcome to business live. Lots to fit in today. The future of the South African retail group, steinhoff, hangs in the balance. Its battling a huge accounting scandal. Today, the retailer is meeting its lenders here in london, to find out whether those that it owes money to will throw them a lifeline. Its origins are in the furniture business in germany in the 60s. But its now a global giant, with brands across europe and the us such as conforama and poundland. Reflecting the global deal making, the company has at least 200 subsidiaries and affiliates and is dutch re
All closed at records for the second straight day. We have more on that in just a moment. But we begin tonight in our nations capital, where there are new developments on an issue of critical concern to investors like you tax reform. Today the republicans sent out a save the date notice for september 25th, when they plan to release the core elements of what they call big, bold tax reform. This is the beginning of the process. Its the beginning of a very important process to achieve for the first time in a generation overhauling our tax system and giving middle class families and as the gop prepares for its legislative push, the president , encouraging lawmakers to work quickly, made clear what he wants to see in the proposal. Make the tax code simple and fair. Cut taxes substantially. It will be the largest tax decrease in the history of our country for the middle class. Encourage companies to hire and grow in america. And by doing that, were going to have to reduce the taxes for compa
Im seema mody in for sara eisen. It is Throwback Thursday we are throwing it back with the clash i fought the law. In honor of martin shkreli, perhaps. I think so. I have a feeling later in the show, given l. A. Being awarded the olympics, well go back to california themed songs. Lets check in on markets. Slight gains yesterday it is a ha behas been a decent k five positive sessions out of six for the dow. We had a good start to the week. Its managed to hold on to that. Yesterdays gains were not particularly pronounced. Today we are called lower only fractionally in the premarket. Down a point or so for the dow tenyear treasury note, back above 2. 2 very briefly closing just below it thats where we remain at moment, 2. 194 given that last week, we touched 2. 05, its been a marked increase in yields with that we have had an increase in the u. S. Dollar as well now to asia, we did get a barrage of data from china mostly the data came in weaker than expected. Fixed asset investment, facto