Estimates to the value of coming under a unified structure. Were open to all ideas which can simplify our business. This is a project that still has a wide possible range of outcomes and raking in the cash covestro valleys as they say theyre generating cash faster than expected due to Strong Demand but the ceo says he is not eyeing any specific acquisitions theres lots of opportunities. What is missing is value created opportunities. We have a fixation on any deal, if we were to do one, has to be value creating. Shares in ihg check in at the bottom of the stoxx 600 after the hotel Group Launches a Strategic Review and halts special dividends. The ceo tells cnbc how the firm is spending its cash we announced a number of Strategic Initiatives to accelerate those trends and bringing new brands to new markets, launching new brands, investing in technology and funding more efficiencies in business to fund that growth good morning lets look at how european equities kicked off the morning. Th
Welcome to countdown. Im anna edwards. 6 00 in the morning this tuesday. Lets start with the oil story. Two things to talk about we are back in a bear market once again and we will come to that chart in just a moment. Statoil is the other thing major oil is reporting numbers. Secondquarter adjusted net income is coming in at 7. 2 billion norwegian krone, ahead of the estimate. The net income bottom line number looks much better than markets were looking for. We will get further into the dividend story as we go through the morning because that could be some interesting stories. Q2 sales once again above the estimate. They are talking about how much of an impact the Maintenance Cost are having on the business in the 2015 number they talk about maintenance being 45 Million Barrels per day. It is in line with the overall 2015 trend, what they expect to see in the Third Quarter. They also say they will declare a Quarterly Dividend in u. S. Dollars from the Second Quarter. Plots to talk abou
Consumers and businesses cut spending and asked its fell. That is a set of that is a setback for shinzo abe. Germanys chancellor Angela Merkel is saying she is willing to consider debt relief degrees. She made her first Public Comments since area finance ministers endorsed bailout for greece. She is confident the imf will join bailout. There may be some leeway on the Interest Rates the greeks are paying on their debt. Searchers in indonesia have found the wreckage of a commercial prop just that appeared to have crashed prop jet that appeared to have crashed into a mountain. There were 54 people on board. And lost contact with the air Traffic Control while flying in cloudy weather. He is elected president , donald trump says he would deport all undocumented immigrants from the u. S. The republican president ial candidate laid out his position on immigration in a fourpage document yesterday. He appeared on meet the press. Donald trump we have to a whole new set of standards. When people
Good day to you. Chinas stocks have slumped from the highest level in three weeks. The benchmark index sank6 following concerns that the government will pare back efforts to prop up the equity market. After a drop in Interest Rates and removal of property restrictions. Economics chief asia correspondent is in hong kong. Mini rout . Ket is this the rerun of a big run . Enda it is early days to tell whether we are going for another. Its certainly a correction. It has come about because we had some good numbers today. We had some data. That is interesting when you consider the big stock markets we had in june. It kind of illustrates perhaps the net effect on wealthy Consumer Confidence with what was much less than people anticipated. We will need to see more durable prices before calling a turn in the housing sector and before calling a turn in the economy. Francine what does it mean for the wider economy . How much can we read into this . Enda one of the recent stocks fell today was peop
What is happening overnight, things you might have missed. The rally in the u. S. Stock markets halted a selloff that had erased trillions of dollars in equities. Lets check in with the latest. David, good morning. David it is about midday here in asia for our thursday trading session. We are really seeing a tailwind coming from that, no other way to describe it, that surge in wall street overnight. We did feel it at the open. Volumes are heavier. Compared to the 30 day average, or just about every Single Market here and in the region except for shanghai, which i will get to. A move back to riskier assets, as well as cyclical commodities. Copper actually gained in asia. That being said though, the other side of this is that we are coming off and i think this happened over the last hour or so we are certainly coming off a high of the day. We are of as much as 2 . Japan a big reason for that, as you can see here. That is what we have done so far on thursday, we are only up about 7 10 of