we start with the latest market action and as the trading day began in asia the pound started to slide down nearly 5% at one point against the us dollar that s on top of the 3.6% dive on friday. investors are running for the exits as fears mount the new government s shock and awe tax plans for the uk economy are too big a gamble. on friday the chancellor, kwasi kwarteng, announced historic tax cuts, and the biggest increase in borrowing since 1972 to pay for them. there is now calls for the bank of england to take emergency action to calm rattled markets and bolster sterling. so let s look at how the pound is trading now. it has been hovering around just over $1.05 but one hour ago we were looking at the pound buying $1.03 so it has recovered a tiny bit but not much and you can see that the markets in asia are fairly mixed and we have the price of oil edging lower as well. joining me now is simon french, chief economist at panmure gordon. is at panmure gordon. this what
At least £22. 5 billion has already been spent building the london to birmingham section, while over £2 billion has gone towards the second phase on things such as buying up land and property. Labour manchester mayor andy burnham said ditching the manchester link would be a permanent statement to people in the north that they were second class citizens when it came to transport. Lets discuss the pros and cons. Joining me now is Alexandra Hall chen, whos the principal Policy Advisor for sustainability, skills, and employment at the institute of directors. Good morning to you. This has been such a contentious story. Ever since the leaks came out weeks ago about the future for hsz. What weeks ago about the future for hs2. What do you make of this decision on the part of the government . Decision on the part of the government . The key here is about stability government . The key here is about stability and about stability and Policy Making. Any instability in the business environment, i
billion of profit during the july to september period. if the results are in line with what analysts are expecting, that would be a drop of around 25% if not more compared to the same period last year. it is important to note that the oil prices are in a very different place than what they were last year. last year they were about 110 to $120 a barrel because of the russian ukrainian war which led to oil prices touching a record high, and that benefited producers like aramco immensely because they could record profits last year. if you look at the last three months oil prices have been $75 a barrel and have gone up in the last month which may provide some kind of cushion and the other factor is that saudi arabia has also cut down oil production in the last five or six months. for saudi arabia, aramco is the most crucial company because it relies heavily on the income generated by the oil they must to run many other parts of its company behemouth. the results are crucial no
Before on wall street and a strong session in asia. If youre going on holiday, what do you do with these things, your pets . Would you let someone stay in home for free if they agree to look after your pets for you . We will speak to the man who is trying to make a business from that very idea We Wa Nt Business from that very idea we want to know how far would you relocate for work . Let us know just use the hashtag bbcbizlive. Hello and welcome to Business Live. Yes, do send in your thoughts and your questions about the stories were covering. Including staying in peoples homes looking after their pets. In a decade apple has sold more than 1. 2 billion iphones and it seems like the worlds most valuable company. It doesnt see any end to our enthusaism for one of the 21st centurys most revolutionary products. It appeared to dismiss fears of a delay to the expected september release of its latest model as it told us it made 16. 1 billion of sales in the three months from april to june. So
Their trading day. Slightly down on their trading day. Slightly down on the day and well explain why. And well be getting the inside track on the surprisingly profitable world of babaysitting and the company thats trying to turn it from a job for students into a global business. We wa nt we want to know today which app could you not live without . Let us know. Use the hashtag business live. Hello and welcome to business live. President zuma of south africa faces a No Confidence Vote in Parliament Today and as its being held in secret theres a real chance that he could be kicked out of office by the end of the day. Mr zuma has survived No Confidence Votes previously but this time the stakes, both political and economic, are much higher. Mr zuma has been under constant pressure over everything from Corruption Allegations to a controversial Cabinet Reshuffle that saw his widely respected finance minister, Pravin Gordhan fired. That prompted two of the worlds leading Credit Rating agencies