Driving car. In a blog post on monday, larry page wrote, quote, we like the name alphabet because it means a collection of letters that represent language, one of humanitys most important innovations, and is the core of how we indexed with google search. ,oining me from San Francisco the coceo and executive editor. Redstone is a Senior Writer for bloomberg businessweek. The cofounder, ceo, and editor in business insider. Im pleased to have them all here. Let me begin with henry in the studio. Why did they do this . Henry this is something a lot of people thought was long in coming. Google has been making massive investments in a lot of unrelated projects you mention, Life Sciences, self driving cars, things a lot of wall Street Investors look at as a huge waste of money with an uncertain payoff it looks like they are wasting capital. Wall street was eager to see real capital discipline. That is one. We are going to get to see what googles business looks like on its own and we will have
S p down 1. 1 , and the russell down 1. 05 . Why . One main reason is china. China devaluing its currency. The dollar strengthening significantly. Oil is down big time, look at that, dollar strength, it takes fewer dollars now to buy a gallon of a barrel of oil at 43. 2, down almost 4 . Brent down almost 3 , gold up just a little bit as you see there about a half percent. Mandy is out but sarah eisen who knows a lot about currencies and china is with us today. Thank goodness youre here. I live for days like this, watching the dow and the impact of china spread across the globe. Bob pisani, anything with any china or Commodity Exposure is getting pummeled. Dow up 240 yesterday, down 240 now. Its a wasted week so far. Put them up, Materials Energy and industrials to the downside. Thats the big losers. Some of the obvious names and their impact from china. We always talk about casinos, wynn 70 of revenues in china, and yum brands 50 of its revenue in china down 5 . Those are the easy ones
Industrials roared because Warren Buffett brought a precision cast parts . Judge big todays action, dow plummeting 212 points, nasdaq nosediving 1. 2 , nobody remembers as all these positives were undone in one horrendous session for the bulls. Now, last night i tried to be skeptical if not down right critical about the rally. Suggesting it could easily be repealed as the week went on. I didnt know it would be repealed immediately. But thats because i didnt think wed be dealing with a chinese currency devaluation that makes their goods cheaper to export and our goods more expensive to sell there. Yet thats exactly what happened. I want to put it in context so you can benefit from it but also so you can be concerned as i am about it and know what could come. First, china, chinas desperate. Chinese communist governments trying to put everyone to work while at the same time putting an end to the widespread corruption in business and politics. We keep hearing that china needs to grow its e
In a blog post on monday, larry page wrote, quote, we like the name alphabet because it means a collection of letters that represent language, one of humanitys most important innovations, and is the core of how we indexed with google search. Joining me from san francisco, the coceo and executive editor. Brad stone is a Senior Writer for bloomberg businessweek. The cofounder, ceo, and editor in business insider. Im pleased to have them all here. Let me begin with henry in the studio. Why did they do this . Henry this is something a lot of people thought was long in coming. Google has been making massive investments in a lot of unrelated projects you mention, Life Sciences, self driving cars, things a lot of wall Street Investors look at as a huge waste of money with an uncertain payoff it looks like they are wasting capital. So wall street was eager to see real capital discipline. That is one. We are going to get to see what googles business looks like on its own and we will have a bett
Concluded their summit in brussels with an agreement to prepare for talks about a future trade deal with the uk. The british Prime Minister theresa may said she remained ambitious and positive about securing a partnership with the eu. Even the European Council president sounded more positive. Donald tusk said reports of deadlock were exaggerated, but that more progress was needed. Earlier the german chancellor Angela Merkel said the main Sticking Point was the bill to be paid by the uk when it leaves. Eu leaders had previously refused to discuss trade until the so called divorce was settled. As our Political Editor Laura Kuenssberg has more. Her report contains flashing images. Tick tock, tick tock. European leaders took 90 seconds today to decide that brexit talks havent gone far enough to move on. Time is pressing. They will start talks about talks. Yet until the uk says it is prepared to pay, no big deal. Im ambitious and positive for britains future for these negotiations but i kno