Above that level of poverty according to the un. Today is the United Nations International Day for the eradication of poverty, something Global Leaders committed to do in 2015 that established the uns Sustainable Development goals. So, why is solving global poverty proving so difficult . Joining me now is Luis Felipe Lopez calva, global director for poverty and equity at the world bank. A very warm welcome to the programme. This is such a big issue and we have a few minutes in the world of television which is not enough time, but in your opinion, why is this problem getting worse and not better . ~ problem getting worse and not better . , ~ ,. ,. Problem getting worse and not better . , ~ ,. ~ , better . Thank you very much. As ou ve better . Thank you very much. As you very well better . Thank you very much. As you very well explained, better . Thank you very much. As you very well explained, the you very well explained, the world agreed that poverty would be our objective number one
Visit the war zone as he heads to israel tomorrow. And Vladimir Putin lands in beijing for a closely watched sit down with xi jinping. It is tuesday, october 17th, 2023. You are watching Worldwide Exchange here on cnbc. Good morning. Welcome to Worldwide Exchange. Im frank holland. We kick off the hour with the check of the u. S. Stock futures. Take a look. Red across the board right now. The dow looks like it will open 85 points lower. Sn s p and nasdaq is opening lower. We are coming off a strong monday session and this is the russell 2000 showing strength rising more than 1. 5 yesterday for the best day since july. You see the moves right here. Big swing here. Same story for the dow transports coming off a nearly 2 gain. Take a look. Up 2 . Big swing right there. All this on the back of falling treasury yields. You can see a rate sensitive sector getting a benefit. We are seeing a rise in the treasury yields this morning. The tenyear at 4. 74. Moving higher this week. The long bond
Engines, Nuclear Power plants for submarines, defence and civil aerospace, and the problem they have identified is that it is underperforming relative to its peers, so when he came into thejob he promised to shake things up, and what he wants to do is take the three big divisions that make up rolls royce, civil, aerospace, defence and a Company Called Power Systems in germany that makes large engines, and bring them close together, rationalise them, meaning there will be a lot of duplication in back Office Functions that can be got rid of, so that is where we expect the job cuts to happen, other parts of the business, its Nuclear Submarines business, we dont expect cuts there, and in civil aerospace, people who make engines, a lot of those job cuts will trend back during the pandemic, in fact rolls royce is now recruiting in those areas so that is unlikely to feel a big impact, those areas so that is unlikely to feela big impact, one of those areas so that is unlikely to feel a big imp
Two areas of tech doing two distinctly different things. Youre getting buying on the dips in mega cap and selling in the more growthy, high beta type ecommerce names, roblox, shopify, palantir, airbnb, match, uber. All of those are down reasonably significantly, certainly at the top of the list since they reported earnings. All of those mega cap stocks are up week to date. Ask yourself the question, whats the difference between the growthy mid and Large Cap Technology names you just cited and the mega caps, besides the size, whats the main difference to me, the main difference is the mega caps represent stability, represent reliability, and have the ability to cut costs and get their way to better and better earnings each quarter. You cannot say the same, unfortunately, for roblox and shopify. Thats a different driver of those stocks, thats the major difference that gives you the answer to the riddle shopify is fine but the outlook isnt as good as people thought it would be. Airbnb is
International monetary funds Chief Economist Pierre Olivier gourinchas. The imf and the world bank are having their annual meeting in marrakech and later today, Finance Ministers from the 620 and Central Bank Governors will be meeting to discuss the health of the Global Economy. According to the imf, Global Growth remains dampened by Supply Chain Disruptions linked to the covid 19 pandemic and russias war in ukraine, persistently high inflation, and spiralling borrowing costs. Heres our economics editor faisal islam. The message from the imf for the 190 Finance Ministers and central governor business in marrakesh is that the World Economy they hope had turned a corner after three years of rolling your clinical crisis. Well, it is limping forward rather than sprinting forward now with geopolitical crisis. Slowdowns in very specific countries like china that they had not expected. There is an additional worry about this new higher for longer Interest Rate world that might affect the bank