Cash trade is less than an hour away. Here are your top headlines. Republicans unveil a 1 trillion aid package to bolster the u. S. Economy. More direct payments to americans and Liability Protection for businesses. Keeping the borders close. Bloomberg learns the eu is set barriers to travelers outside the block amid rising virus infection rates in spain and germany. Plus, better than bad expectations. Michelin reports operating profit at the highend of estimates despite swinging to a net loss. The delivery here was one of the big delivery hero is one of the big winners. Dont miss our interviews in this program today. We are seeing the ecb, breaking news. The ecb asking european banks to freeze dividends. You can always get the latest ecb headlines on your terminal. Type ecb go for a great dashboard. The ecb is saying it wants european banks to freeze dividends for the rest of 2020. The remaining four months of the is saying ite ecb least not pay at dividends until january 2021. There
Coming up, inflation shows signs of cooling. The latest data being promising. Jay powell on hold saying the fed is awaiting more evidence before cutting. Investors move on keeping bets for at least one rate cut this year. Can the fed achieve nirvana . U. S. Economy is chugging along pretty well. We have had good health for quite a while. There are thousand things that can go wrong but right now everything is in pretty good shape. It is necessary to make sure we in a fiscally sustainable path. The higher Interest Rate path makes that more difficult. Where it will be in six months, how much of the slowdown we see in the bottom quartile, we have to watch the data carefully. Whenever the worlds person in for a soft landing, it is half that. We have a 2 growth rate. The cost of living in mary areas is very high. It is a concern to americans. There are a lot of Inflationary Forces in front of us that may keep it higher than people expect. . What the fed is doing with the rate structure is ha
Yesterday following a ban on the catalonia referendum. This morning it is back in the green. And well be getting the inside track on the business of boring forget slick apps, think more pie and mash. Its all about investing in businesses that do the basics. Today we want to know. Sick of the Tech Revolution . If you had £1,000, what would you invest in . Let us know. Just use the hashtag bbcbizlive. Hello and welcome to business live. The boss of uber, dara khosrowshahi, will sit down for crucial talks with officials in london today. The future of the ride hailing app has been put in doubt after transport for london took the decision not to renew the compa nys licence. Tfl expressed its concern over a number of issues, including the way uber managed driver medical certificates. There was also serious concerns regarding background checks and the reporting of criminal offences. The uk is ubers biggest market in europe and the company serves 3. 5 million customers in london alone. Althou
Financials driving the premarket following those beats from goldman and Morgan Stanley plus, netflix sharpens its fangs. The streaming giants beats on subs and promises an 8 billion on original content next year. The stock is poised to hit all time highs. Trump versus insurers, the president calling out insurers and drug makers, both unh and j and y have results this morning. Well get to that. But we are going to start with the banks. Goldman sachs beating expectations as investing bext revenue rising 17 and morgan stan lids exceeley exceeds on td bottom line. Its a good time to be in the Wealth Management Business Revenue there nearly half of the total. Dont forget has the president tweeted how many electric trillions have been added . I like the fact that Goldman Sachs did not report disappoint on this fixed income trading ip hoping Goldman Sachs reads the release and comes out more positive on the Conference Call. Last time they had good numbers but they were very sir couple inspect
Pete, our story, they say, we expect trumps tax changes to be b voted on by congress, boosting sentiment and growth in the u. S. And risk appetite. I think thats something a lot of us have been talking about for a while now and while youre waiting, if you look at volatility where it is trading now and you see how low it is and you have an opportunity to protect and ride the bull market, why wouldnt you . Theyve heard the pessimism, all the reasons why not to be in the market. If you look at this earnings season, when you look tat xaat companies and how well they performed, financials, they reported great numbers. Now, the performance has not been there and thats probably because the huge move post election. Doc, they say maybe the market got ahead of itself with this whole notion of reflation because of the president s agenda. But its going to pick up and pick up strong into the second half of the year. Theres not pessimism in the markets. There might be pessimism about other thick thi