We start with an Epic Battle Raging On Wall Street that has seen small time Amateur Investors take on the titans of the hedge fund industry. Its all centred around this company the struggling us computer Game Retailer gamestop. It shares have soared at much as 1700 after a group of private investors used online forums to drive up their price. And that has raised serious questions about how Financial Markets operate in the era of social media, as paul hawkins reports. This is a story of david versus goliath, of the amateur online investor beating the Big Traditional Wall Street traders. At the centre of it, gamestop, a struggling American Retailer Selling dvds and video games. A number of the Wall Street Traders picked up on its problems and bet money that its share price would fall, known in the business as shorting a stock. Only for this particular stock, Amateur Investors swapping tips on the social media site reddit saw it as an opportunity. They bought shares, which actually drove
Things like volatile food and energy prices, so called Core Inflation was 4. 7 , the lowest since october 2021. The good news is that inflation has drifted down from last summers a0 year highs, but it is still well above what the Federal Reserve thinks of as normal prices and with the overall trend heading in the right direction, policy makers, well, they may feel that they dont need to raise Interest Rates further. The us central bank, you may recall, raised its benchmark Interest Rate to more than 5. 25 percent, the highest level in 22 years, all in a bid to cool the economy and ease the pressures pushing up prices. So while its too early to say Mission Accomplished from the white house to wall street, there is a sense that progress is being made in the Worlds Largest economy. Chinas E Commerce Giant Alibaba reported its strongest quarterly Revenue Growth in almost two years, pushing its us listed shares up more than 4 . Earlier this week, the latest data showed Consumer Prices falli
53 according to the latest Statement Released in the last hour from the maui county government. Joe biden has already issued a major disaster declaration and the governor has said it is the deadliest Natural Disaster for generations. Thousands have been forced to leave their homes and hospitals have been treating patients for burns and smoke inhalation. Nomia iqbal has this report. Much of the Hawaiian Island of maui is now scorched earth. A pilot can hardly believe what hes seeing. Oh, my gosh look at the harbour this looks like baghdad or something. The Historic Town of lahaina barely exists anymore. Since the fire began on tuesday, it has ripped through, fuelled by Hurricane Force winds, leaving burnt out cars on once busy streets and instead of historic buildings, there are Smoking Piles of rubble. Everybody still out here, its time to go for anyone still in the town, the message is clear get out. If anybody s still here, the fire is on front street and it is time to go this Satell
Hi there. Thank you for being with us. We begin with some Breaking News from the brazilian city of belem, where leaders of eight South American countries which share the amazon have been meeting fora landmark summit. At the end of the talks they issued a joint declaration saying they have now established a new alliance aimed at preventing the amazon from reaching a point of no return. But leaders appear to have stopped short of pledging an end to deforestation by 2030, as brazils president lula, who is hosting the event, had hoped. Our South America Correspondent Katy Watson reports from para, which is the state with the highest Deforestation Rate in the country. Virgin forest still exists here in the amazon, but every day the illegal loggers get closer. From up high, you can see the damage done, the large patches of land totally cleared. This part of brazil has the highest rate of deforestation in the country. Underjair bolsonaro, Illegal Logging soared. President Lula Da Silva has pr