Welcome to the program, this is countdown. We have numbers coming through from the German Chemicals giant. They toldthrough we have numbers coming through that came through at 1. 9 billion euros, beating the estimate for the First Quarter. Going into these numbers, we could see volume putting pressure on cost and the product mix. We are looking out for anything they say on the ability to cut cost, also there are emerging market dynamics, as expectations for growth have been on the wane, and we are getting various comments coming through. The forecast is based on the average oil price of 40 a barrel, which is interesting. Trading a little above that. The items are slightly below 2015. Their Sales Numbers are coming in at 14. 2 billion, and actually actually a touch below the estimates of 50. 1 billion. They see that in 2016, they see considerable sales decline. That said, they confirmed that outlook. Interesting comments coming through for the future of this year, considerable sales dec
Payments to Government Contractors as the slump in oil prices pushes the country into a deficit for the First Time Since 2009. Francine that is according to three people with knowledge of the matter. They say the Infrastructure Projects have been waiting six months for payment as the government seeks to preserve cash. Manus lets get straight to the middle east and bring in our finance reporter, matthew martin. Good day. Let us through what these measures are run us through what these measures are. They say they are delaying paying contractors give us in context. It is important to remember that saudi arabia going into this period of time with very low debt and huge reserves, but as it comes to the realization that the oil price leave staying at this sort of thel for the mediumterm, government is starting to take some measures to try and reduce the spending levels as it starts to work out what sort of Government Spending, what sort of budget it can sustain Going Forward into the future.
Chinas gdp is front and center. Its a huge deal. Right now, we need to get to our first word news. Isnie chinas economy staying close to the forecast. Slowest poorlyhe expansion since 2009. That is set to off set exports. The Chinese Government wants it to grow 7 year. Thed is taking site at biggest play since the civil war. They are backed by a ring in special forces and russian airstrikes. Wave ofuld be another refugees heading west. The palestinians are giving up a wave of attacks on israelis. One israeli soldier was killed and 10 people wounded. The attacker was shot and killed in police say they shot and killed a foreigner by mistake. The Iranian Nuclear deal has now taken effect. All sides will have to start delivering on a promises they made. That means a limiting 95 of your rich enriched uranium stocks. The west is getting ready to lift economic sanctions. This may be the end of the road for a Stephen Harper after a decade in power. Canadians vote today. The poll suggests the l
Opening, comparing and switzerland. And theynd is drowning defend their domestic economy this morning. I know jon ferro where is he . Somewhere lost with an important conversation. Francine lost in the outs about about the alps franc. British warplanes will target Islamic State in syria, including oil pumping facilities and emma dumps. Thel recently infrastructure targets have not been hit because of the kurdish ground troops. At the climate talks in paris there is a dispute of who will pick up the tab. Developing nations will receive 100 billion a year. China insists when it comes to Climate Change it is a developing nation itself, so they will not be contributing. India and pakistan have agreed to resume peace talks. The two countries have a disputed border and increased fighting and the region has made it difficult to get talks going again. In washington, congressional negotiators are moving closer to a deal that would make a series of tax breaks permanent. They will heat up talks o
Commodities are on the move. But i would focus on is this exhaustion at the end of the year, where people are saying when does this stop . There is no indication that it will stop this morning. Francine there is no indication and they are looking for the fed. Tom theyre looking for the fed. Michael mckee will join us. I dont know how the fed links then with iron oil links in with iron ore. Francine and currency traders have been burned on the back of it. Lets get to the first word with nejra cehic. Nejra in paris, the Climate Change conference has been extended by at least one more day. The talks have been sent to end frenchut the foreign minister there are a number of issues to be resolved, among them, how rich nations will pay to help clean up the air. Put off aron has decision on whether to allow another runway at Heathrow Airport. There wont be another decision until the next election. The British Government says there needs to be more research on the environmental impact. Tomorrow