Agreement to cut Oil Production and russia will not attend the meeting. Saudi officials uploaded the idea of not reaching an agreement at all. Iran says they will produce more, while the iraq minister says hes optimistic. Bearish on bonds. The trump dollar rally is stirring up emergingmarket bearers. The most irish the most bearish for the year, caused by the collapse in Commodity Prices in china. Donald trump announced just this morning he will nominate congressman tom price for health and Human Services secretary, this has retired David Petraeus is considered for secretary of state amid open infighting among who to pick for the posts. That is what you need to know. Will kennedy, managing editor for middle east and africa, coverage of energy, joins us from london. At this hour, what do we know . We know that less than 24 hours from the meeting, there are still significant disagreements among opec leading members. Saudi arabia is insisting iran raise the structure and iran [indiscernib
Tours the u. S. Ahead of his meeting with u. S. President Barrack Obama. Boeing the big beneficiary state side as they win to provide china with a range of aircrafts. Lets show you whats happening in japan right now. We are looking at Prime Minister shinzo abe holding a press conference to discuss his Economic Policy and according to the Japanese National broadcaster nhk, abe will be announcing a plan to try to increase the countrys gdp to 600 trillion yen and thats up close to 22 hopefully launching that third arrow and fiscal measures in the future. The yen not really going anywhere with these comments from the japanese pm. Also want to draw your attentions back to shares in bmw. Were off by roughly 3 last time i checked and this is on reports oh, now, bmw has limited some of its loss. Were only down by 1. 22 . Quite a bit of a recovery. This is on reports in auto bild one of the influential car magazines in germany saying that bmw too overstepped emission limits. Theyre talking spec
Rising to 114 in september verses the reuters poll and were looking at conditions holding pretty steady. This is important with the german ifo because the index may have increased in the month of december but this is before the volkswagen cheating allegations came to light and also the migrant crisis explosion so this isnt really indicative of recent events that were seeing but checking in on the euro 112 levels versus the u. S. Dollar. Still below that 114 we saw just a few weeks ago. Also want to bring you the norwegian Interest Rate decision. Cutting its key rate to 0. 75 from 1 . The crown falling on the back of that Interest Rate cut. Its a very very close call going into that decision. The norwegian Economic Growth is likely to remain low for longer. Once again hitting a four week low of 9 45 per euro after cutting the Interest Rate by 25 basis points. They talk about the breleaker economic aspects. Well talk more about that later on. Interesting divergence. Some are tightening a
Vinterkorn said he was shocked by the events of the past few days. The scandal has pressured the stock which is down more than 30 over the past few days. It has prompted investigations and lawsuits. Phil lebeau has our report on the resignation of volkswagens ceo. Reporter the crisis involving rigged diesel emissions has claimed its first executive. Martin vinterkorn has resigned saying he didnt knowingly do anything wrong. But the vw board said it may be possible there are criminal proceedings involving executives at the automaker. Meanwhile vws board will choose the next ceo on friday. Herbert diest, mathias mueller, and rue better stiller are considered frontrunnerers. Their job will be to stabilize an automaker who has admitted it screwed up and sold clean diesel cars that really werent clean. In fact, the epa says almost 500,000 vw diesel cars hive been out on the road emitting up to 40 times more pollution than allowed. Consumers feel duped. I think its appalling, honestly. I was
Globe. In a statement ceo Martin Vinterkorn said he was shocked by the events of the past few days. The scandal has pressured the stock which is down more than 30 over the past few days. It has prompted investigations and lawsuits. Phil lebeau has our report on the resignation of volkswagens ceo. Reporter the crisis involving rigged diesel emissions has claimed its first executive. Martin vinterkorn has resigned saying he didnt knowingly do anything wrong. But the vw board said it may be possible there are criminal proceedings involving executives at the automaker. Meanwhile vws board will choose the next ceo on friday. Herbert diest, mathias mueller, and rue better stiller are considered frontrunnerers. Their job will be to stabilize an automaker who has admitted it screwed up and sold clean diesel cars that really werent clean. In fact, the epa says almost 500,000 vw diesel cars hive been out on the road emitting up to 40 times more pollution than allowed. Consumers feel duped. I thi