Papal confirms that its bailing on its crypto currency program. And why analysts think thats a wise move. But first to our top story. Lofty investment goals thanks to mashayoshis san. He tells any kay business the results still have a long way to go, and ma makes me embarrassed and impatient. Er used to envy the markets in america. Theres no excuse for entrepreneurs in japan, myself included. Joining me is sarah mcbride. What was your key take away from this interview . Sarah it turns out that msasyoshi was asked more broadly about the japanese environment, and so you can interpret his results to be more broadly, why arent there more entrepreneurs in japan . Why isnt the startup scene as vibrant as some of the places he mentioned southeast asia. There are a number of unicorns out of places like singapore and its just hard to see anything similar in japan. So in that context, i think you cant say, oh, he was just upset at himself over the vision or something narrow like that. Taylor rem
Thinks there could be a demand problem. Power lunch starts right now the dow in triple sdwrdigits take a look at the financials. The worst performing sector today on track for its worst week since march it wasnt the drop. It was the rally ta got every ones attention. The dow has dropped 1200 points at its low this afternoon. Leading the pook wack was semi conductors it was all those names analog, qualcomm and micron. I want to keep an eye on those big names. Home depot, mcdonalds, costco, nike industrials did okay but their rally was much, much more muted. Caterpillar but not as much as more growthy oriented stocks i think the other important thing is probability of a rate cut by the Federal Reserve for this month now 90 probability of a rate cut, 50 in december as well you can see yields also stop going down just about the same time as the market stops going down melissa, back to you kelly, back to you thanks very much. President trump talking all angles of the china trade deal earlie
That vehicle was traveling at highway speeds, they would have been hard to see. Reporter the chp says this is the 25th accident involving a wrong way driver in the bay area. Ten were fatal resulting in 19 deaths. 18 of the 25 accidents involved dui drivers. Its very sad to here. Reporter solomon knew the driver who was killed. He said the night shift is tough, drivers on the road can be tired or drunk which is a big concern for taxi drivers. This is the second wrong way accident in which he knew the taxi driver. Its not safe. Its not the first time. We see a lot of that. Reporter chp is also investigating whether the passengers in the taxicab were wearing their seat belts because on tofe he p was ejected. Reporting live, abc 7 news. Abc 7 news is admitted building a better bay area. Some b. A. R. T. Riders are worried the systems vision or the future will undermine their needs for today. As part of the longterm plan, b. A. R. T. Is converting many of the parking lots at its east bay st
Starting off the week at 1. 53 . Athave an offshore renminbi 7. 1274. One to watch because china comes back from vacation tomorrow. 107. En is firmly below guy letsguy talk about what weve got going on in europe. We have a picture of a positive of a market, which is positive equity market, which is more positive than an hour ago. I will point out volume is very light on both sides of the atlantic. The pound is down, but not by much. 1. 2321 on the cable rate. The turkish lira continuing to weaken quite sharply, now down by 1. 63 . Lets return to the middle of those three markets. U. K. Prime minister Boris Johnson a welcome boost from the courts after a scottish judge ruled in johnsons favor in a case that could force them to obey a law requiring him to obey brexit to delay brexit if you cant reach a deal. Buckley,ined by George Nomura international chief u. K. And european economist. It is a potential hard out for the u. K. On the way. The markets seem are markedly calm. Are we undere
Have to have a clean speech soon, if you listen to what i said in my speech, there are lots of things that need legislation, we will need to have a budget very quickly and by the way, that thing not connected tonight as we will have a budget with the preparations for a no deal brexit and big business tax cuts and the first week of september. Applause. And then well have the queen speech earliest available. Applause. And then well have the queen speech earliest availablem you can give me a date for a budget why not for the speech . As much as i love you and ive gotten to know you. Steady now. Ithink love you and ive gotten to know you. Steady now. I think there are some things we do not need to talk about in the public arena. So the which ill agreement, is it dad . As it is now, yes. We have to be dead. I wanted to get a deal, and so we have to make some profound changes to that agreement, not that does not mean ripping up the whole thing. But it does mean that backstop has to go. Entir