Those u. S. Foods from additional tariffs. Trade talks are expected to resume in the coming weeks. A flash flood in the capital of algeria inundated subway stations and the airport. The damage described as enormous. In 40 minutes, the area got as much rain as it normally does in three months. Residents say city authorities failed to maintain gutters and other infrastructure. Global news 24 hours a day, onair, and tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Live from bloomberg World Headquarters in new york, i am vonnie quinn. Amanda im amanda lang in toronto. Welcome to bloomberg markets. We are joined by our bloomberg and Bnn Bloomberg audiences. A collective sigh from the u. S. Corn belt. China today says it will exempt purchases of u. S. Soybeans, corn, and other products from punitive tariffs. Worked. E work re a series of governance changes to calm investor concerns about its impending ipo. Wooin
Has something President Trump does not. That is a central bank he can factor into. When you look at it from a broader standpoint, as the debate continues on to whether or not therell be an economic recession, the president heading into the 2020 reelection cycle by attacking fed chair jay powell, who he nominated. David thanks. We will talk to about that problem with china. In the meantime, lets turn to ben on tax cuts. We had President Trump say he is thinking about tax cuts, including capital gains. Could he do that . Ben it would be very controversial and probably face a legal challenge. The controversy comes from the fact that 86 of the benefits would go to the top 1 . That might not even stimulate the economy. There are conservative economists that think this would have a minimal effect on shortterm economic growth. David the headlines crossing, President Trump saying he has no immediate plans to do that but what about other plans such as cutting the payroll tax. That could make a
They are indeed. Steady progress for england on the second day so far of that first ashes test at edgbaston. They have had a bit of luck along the way but rory burns has just passed 50, england 88 1. Thanks, hugh. And louise has all the weather a bit quieter out there. It certainly is. Im pleased to say that we have got sunny skies, and the showers are few and far between today, a much better picture in parts of derbyshire. Ill have the Bigger Picture coming up in half an hour. Thanks, louise. Also coming up is this your aircraft, sir . The plane that landed on a busy street and had the police to answer to. Hello, everyone this is afternoon live im martine croxall. Raf helicopter crews are trying to save a dam in derbyshire amid fears it could burst and engulf much of the town of Whaley Bridge. The chinooks are dropping bags of sand, gravel and stone to shore up the dam wall. Experts say the situation is critical. Around 1500 residents were moved out of their homes yesterday. The Prime
Was priced in. The story of the day is on the fx markets. You can see the dollar index moving to the upside. Most of that is down to the weakness of sterling. It does look as though volatility is creeping up and spiking further and further. That is implied volatility in the white line. Sixmonth in turquoise. Three months from now, dont forget that is when we have the punitive date of britain leaving the european union. 1. 21 at the moment, some suggesting we could go to 1. 18. Are we pricing in a hard brexit already . Volatility coming up. We are at levels we have not seen since february, perhaps not pricing in a hard brexit when we had the original data for a punitive release of britain from the eu. Lets find out what else is out there. Lets get out to new york and join su keenan for the first word news. Su lets start with the trade talks, which resume in september after the meeting in shanghai ended with no progress. The two sides discussed purposes of forced technology transfer, i.
First half net profit jump for roche as they lift their Sales Outlook for the year the ceo tells cnbc the trend will continue into 2020. Given the strong momentum we have with the new medicines, we also expect growth beyond the current year and to be able to continue to overcompensate the effect of the entry of the bio similars. Astrazeneca shares hit a record high as they beat Second Quarter estimates. The ceo hales strong growth in cancer drug sales. It was a growth rate of 19 this was driven by oncology Franchise Growth of 58 . We got to 4 billion for the first half, china grew by 35 . So very great driver of growth for us and ab inbev beat Second Quarter forecasts as beer sales grow at their fastest pace in five years, while diageos ceo tells cnbc a taste for gin is boosting performance a lot of that growth is coming in the early evening occasion from ill call it boring wine an boring beer an beautifully served tangaray and tonics have a beautiful space to play. Just some of the la