Af reporting after the close today. And the one central bank cutting Interest Rates despite inflation. This as we an wait the latest fm the bank of england. First, amd and qualcomm coming up short and giving investors new reasons to worry it is thursday, august 3rd you are watching Worldwide Exchange here on cnbc good morning welcome to the show. Im dom chu in for frank holland. Lets check in on stock futures. Losing steam we are sitting at or near session lows for the futures market s p is implied lower by 15 points Dow Jones Industrial average lower by 100 nasdaq down by 60. You can see a sharp leg lower right around when europe just started trading and it has been drifting lower since here. We currently stand at 4,520 for the s p. This was all after a rough day for wall street on the heels of the fitch downgrade. Nasdaq posting the worst day since february right now,. 50 to the downside. S p down 1 . Some conviction in the move lower based on volume. By the close yesterday, spy clos
Funding cuts of £2 billion annually amid rising costs and a promise to tackle waiting lists. Promise to tackle waiting lists. And our other main story tonight, the leader of labour led Birmingham City council has unreservedly apologised to the citys residents for the budget set out today. The cost cutting set out today. The cost cutting plan includes taking more than £300 million away from Public Services across britains biggest city, second biggest city after it effectively declared itself bankrupt last yeah declared itself bankrupt last year. Councillorjohn declared itself bankrupt last year. Councillor john cotton described the cuts as a result of a raging crisis in local government caused by the conservatives calling them cheerleaders for austerity. At the same time, Birmingham City council is planning to raise council taxes by just less than 10 a year. Suella council taxes by just less than 10 a year. Suella braverman told gb news today she doesnt believe the former tory mp lee
The first Warning Signs for the trump campaign. Hanging above the first three indictments trumps team waiting for another shoe to drop in georgia where fulton d. A. Fani willis says she has a duty to prosecute. I took an oath and the oath requires i follow the law. Also sharing see the questions. The shocking news from the Justice Department tied to two u. S. Navy sailors arrested for spying. The Sensitive National secrets at the heart of the case. We begin with former President Trumps next big day in criminal court. Such five days after republican candidates take the stage for the first primary debates later this month. The former president on truth social bemoaning the high cost of his court battles, quote, my political opponent has hit me with a barrage of weak lawsuits which require massive amounts of my time and money to adjudicate. Resources that would have gone into ads and rallies will have to be spent fighting these radical left thugs in numerous courts throughout the country.
Decade doing trumps dirty work. Credibility issues are why the prosecution used the 20 witnesses who proceeded cohen to basically corroborate his story before they even put him on the stand. It is also why trumps defense team has singlemindedly sought to state their case on discrediting him. Even in cases that might not be read crucial to rebutting the prosecution. For that reason the defense may think they racked up a victory for themselves today because during the crossexamination this morning, cohen admitted that he stole from the trump organization. In addition to the reimbursement for the hush money for stormie daniels, cohen was also given 50,000. That money was supposed to be a repayment for what cohen spent to hire a tech from to rig an online poll on trumps behalf. We dont have time to get into that detail. But as cohen said on the stand, he only paid trump 20,000 and kept the rest for himself. Asked point blank today whether he stole from the trump organization, cohen said, y
Israel has been carrying out intensive aerial bombing of gaza since the hamas attacks inside israel two weeks ago, in which 1,400 people were killed. The Palestinian Health Ministry Says about a,700 gazans, mainly civilians, have been killed in the israeli air strikes. That includes 55 people overnight. Israels military has warned civilians in gaza to keep moving south for their own safety, as it prepares to increase pressure on hamas, which is designated a Terrorist Origanisation by the uk, us and other western governments. The Israeli Defence forces said one of its aircraft also targeted a mosque in the palestinian city ofjenin, in the occupied west bank. Israel says the mosque was used by a hamas cell as a base to plan and execute attacks against civilians. Earlier, the uns humanitarian chief told the bbc that the handful of aid trucks heading into gaza was not enough. On saturday, agreement was reached to allow the first 20 lorries carrying supplies to cross the rafah border from e