Paying more than 1 billion australian to settle a Money Laundering allegation, the largest corporate find never levied in australia. Tiktok drama turns another page, owner bytedance asking a judge to halt the ban in america, Chinese State media slamming u. S. Dirty trip u. S. 30 tricks. We heard from larry kudlow in the last few minutes, downplaying expectations we will be getting any more fiscal stimulus through the pipeline, larry kudlow saying he doesnt think the u. S. Needs another stimulus package and that they will be doing targeted measures only and need to be smart about this measures. This comes after course of fed officials, including chair powell, saying there is a long way to go for the economic rebound, we heard from several others, all saying there is further need of more fiscal stimulus to do that heavy lifting. And that comes after congress ended its pursuit of a bipartisan spending bill and are now focused on replacing Ruth Bader Ginsburg on the supreme expected thisin
Too soon could have dire health and economic consequences. There is a real risk you may trigger an outbreak you may not be able to control which will set you back load on the high seas warns container volumes may fall as much as 25 in the Second Quarter. How the virus will hit global trade. Protectionism is a key risk and getting bigger as part of this pandemic as countries saw trying to protect their businesses it is no doubt in my mind it is the wrong strategy the french group pulls out of the take of the bermuda based partner turning shares sharply lower. The uk economy contracted a record 5. 8 in march Economic Activity in the First Quarter slank 2 output in the services and output fell sharply but not as low as expected. Retail sales plunged 19. 1 as the lockdown weighed heavily on the sector it is the biggest monthly fall since the brc began the index in 1995 weve been looking at that data but we know there is worse to come in the Second Quarter when we warn the contraction could
Saying low rates are to blame. Basic change are the Interest Rate environment as well as the general macroenvironment we have seen pressure on margin rates and customer activity. Thats why we are not going to see higher revenue and a whistleblower report alleged President Trump abused his power on a phone call with a foreign leader and then the white house then tried to cover it up. Good morning, commerzbank has formally approved the latest overall. My colleague is with us live from frankfurt what did the angels have to say . I had to ask him why now because clearly the Interest Rate part was pretty much clear already when they had their last quartly earnings in august it took them some time to realize what it is going to mean also for their revenue out look. The bottom line is because of the Interest Rates and easing cycle and also the out look in the economy and revenue guidance this year was too optimistic i had to ask him why now and whats the biggest drag. Take a listen to what he
Good evening. Prince andrew has released a statement about his friendship with the disgraced financier jeffrey epstein, the first time the prince has spoken directly about his links since epstein took his own life in a new york prison cell earlier this month. Prince andrew said at no stage did he see or suspect any criminal behaviour. Epstein had been awaiting trial on sex trafficking charges when he killed himself. Heres our royal correspondent nicholas witchell. What was Prince Andrew doing at the home of a convicted paedophile in new york in 2010, peering out through the door as young women came and went . The questions about andrews friendship withjeffrey epstein have shown no sign of abating and so, from the prince today, a statement in which he says he is eager to clarify the facts. He states. I met mr epstein in 1999. During the time i knew him, i saw him infrequently and probably no more than only once or twice a year. I have stayed in a number of his residences. The prince goe
Im sara eisen look at whens driving the action higher. A thaw in the trade war again. U. S. And china resuming tariff negotiations in october. Strong Economic Data helping ease some recession fears and the s p moving back above the 50day moving average. Key technical level. Tech stocks are leading the rally. Two big interviews coming up on closing bell. Box Ceo Aaron Levie and with Consumer Staples near alltime highs kimberlyclark ceo michael hsu will join us see both interviews only right here on closing bell. Joining us for the entire final hour of trade is stephanie link. Welcome back, stephanie. Thank you. So are you a buyer on this trade rally . I bought a couple things today. I added to a few positions, nothing new, nothing big, but i think the debate will continue are we going into a recession or seeing Slower Growth i have been saying i think Slower Growth mode and a lot of that because the consumer has been quite strong. I know a lot of people talking about that i spent this w