Ladies and chess, thank you very much for coming. Coming. , thank you for we are in the season where the city tends to empty out and we are delighted that you are here that isss a problem arguably as important here in the United States as it is around the world, where we will be focusing on it. Let me briefly introduce myself and who will be conversing with today. Im sarah chase at Carnegie Endowment for International Peace and the democracy and rule of law program, not the climate and energy program. ,imon is going to kick us off simon taylor, one of the founders of Global Witness, which is in my view one of the most innovative and effective organizations working in the space around the world. It very interestingly combines advocacy with extremely rigorous investigations, and is one of the things we will be talking about today, a recent report by Global Witness about shell pass activities in nigeria. s activities in nigeria. He hel a coalition of 40 countries worldwide, called publish
Of all we are into the season where this city tends to india and so we are already delighted that you are here to discuss a problem that is arguably as important here in the United States as it is around the world where we will be focusing on it. Let me just very briefly introduce myself and who will be conversant with today. Im sarah chayes. Carnegie endowment for International Peace in the democracy and rule of law program, not to the climate and energy program. Simon is going to kick us off. Simon taylor who is one of the founders of Global Witness which is in mighty one of the most innovative and effective organizations working in this space around the world, and it is very interesting combines advocacy with extremely rigorous investigations, and thats one of the things that will be talking about today is a recent report by Global Witness about shells activity in nigeria. He also helped galvanize a coalition of suicide organizations of 40 countries worldwide, working for more accou
We start off with autos. Very bleak picture for auto sales in the month of may. Numbers tanking across the board. Gm and ford falling hard today. What are the dismal may numbers signaling . Autos, trouble. Autos have been a huge driver of gdp growth since 2009. Cash for clunkers. Then subprime loans exploding. Now, mike jackson was on cnbc back in january. Hes the ceo of auto nation, the largest car dealer. He said back in january that things were slowing down. Whats interesting is the automakers, they increased production. So now we have an inventory problem. We have almost three times as many cars in inventory as are being sold. At that level, thats the last time we saw that level was back in 2008. And that generally signals the peak of an auto cycle. We talked about the peak, but as that comes down and you start to see ford and gm start to take some production offline, if this really is peak auto, thats going to start hitting unemployment, thats going to start hitting gdp growth and
Futures little bit negative here in the u. S. On over in europe, 1. 3 . Y stocks 600, down almost 8 last quarter, switch on the board. Global market being reduced to what feels like one big fat trade. Stronger euro. Score card and treasuries ahead payrolls. Yields pushing higher by two bases point. Crude prices down by 2. 43 . The bottom one, bought to you by saudi arabia. Love these little. Ponsorship we will start getting money. Justt to point blackberry cents a, loss of three share. Lets get a check of the headlines. Starting with saudi arabia is getting ready for the twilight oil age by creating the sovereign fund. Themmed bin salman said fund will control more than 2 million. Asset will be shared. At the Nuclear Summit in the focus will be on islamic state. President obama will try to efforts from again oh keep getting nuclearettin facilities. And new york are with the first states with the 15 minimum wage. Approved in california the higher wage to take effect 2022. L by governor
Enough to buy the Worlds Largest public traded companies. Lets head street to the markets desk with julie hyman. Quandary with better economic numbers and lower margins. This is the quandary we used to be in, right . Mention we are getting the final read on march Consumer Confidence mentioned by the university of michigan coming in and 91. Coming in at 91. Adding to the slew of Economic Data we are ready at this morning. We are getting the isn manufacturing report coming in at 51. 8. 51. 1 was estimated by economists. Big one. Report is the if you look at the major averages, we are indeed creating up off the lows, investors trying to weigh the future for Interest Rates. I want to take a look at the sp y. He gives us a good snapshot of the reaction and stocks to the jobs report moments after the report. Here we are at 8 30, we saw a pickup. It was lower in a couple of random trades. Maybe a couple of bad traits. As bouncing up off the lows we had these into the session. I want to look a