We just met with china. We are doing very well im meeting with the vice premier at the white house i think it is going really well. Sap shares surge. Coceo tells cnbc mcdermott believes now is time for change at the top other than thinking about handing over the reigns and going through transition in the beginning of the year, he felt now is the appropriate time to come out we had a great strong quarter. Hugo boss cuts its out look for the second time. Puwlicis is also at its lowest since july 2012. A warm welcome to street signs. Lets kick off with a fresh report from the iea. They have reduced their Oil Demand Estimates for 2019 and 2020 to 100,000 barrels to 1 Million Barrels a day and 1. 2 respectively they lowered these to reflect weaker demand. They also noted that demand for opec they see falling in 2020. Also comments on supply there. Nonopec supply led by iran, brazil and norway to rise to 2. 2 million. Interesting that they continue to see a ramp upcoming out of nonopec count
O. E. C. D. Would address the problem of corporations exploiting official locations of licenses or patents to lower or totally evade taxes followers of big tech reporting noted the inclusion among the proposals of some from u. S. Delegates as well as targeting companies outside the u. S. Dominant tech sector those 2 developments were taken to signs that the proposal may be likely to receive an official green light from the new from the United States the u. S. And the European Union have been clashing recently over whether and how to rein in the big names from the u. S. Amazon facebook and google among others. Joining us now to give us a handle on the economic events of the day is professor Richard Wolfe Professor Emeritus of economics at the university of massachusetts amherst and the author of democracy at work a cure for capitalism welcome back professor wolfe and 1st on this tax avoidance tax avoidance push by the o. E. C. D. Does it go far enough in your view is it likely to have.
The president meeting right now with congressional leaders at the white house amid on going crisis in syria. Well bring you any headlines from the president this hour. We mentioned we are waiting for netflix now. Wee bring in our panel, gary b. Smith, kadena group president. Also a fox business contributor. Jack hough, barons associate editor. What are you looking for on they netflix. We call it earnings report, how many new customers you bring in who are willing to pay. Last quarter was a disappointment. The stock plunged. I think in this report they dont really have to beat the estimate. I think they do have to meet it. You cant go into this later part of the year without melissa hold on right there. We have numbers. Connell revenue is right in line. 5. 25 billion was exactly what we were expecting. Deirdre will have more details what you see. Stock is selling off there. I dont have a comparable earnings per share number that i can give you yet. Im not sure if it is earnings per shar
Does it go far enough in your view is it likely to happen and how does this push compared to u. S. Action on reining in big tax in terms of taxes. But let me go in there the reverse order the europeans have consistently been ahead of the United States and trying to do something about the monopolies as they see it operated by the High Tech Companies in the world who work very hard to corner particular technologies that they can then sell out of inflated price because theyre the only producer who develop their technology precisely to produce things that others wont have for a while so theyll be the only seller and can therefore get but not believe price and the reason is not far to look in europe you have a much more powerful Labor Movement and in this country you have strong socialist communist and other left wing parties who put enormous pressure in their. Armaments and so on to target monopolies that are basically ripping everybody off so thats why they have to have more of a movement
The committee will come to order. Good morning and welcome to todays hearing on hong kongs summer of discontent. The commission heard compelling testimony from pro democracy advocates including martin lee who expressed concerns about the extradition bill moving towards becoming law at that it time. That would have put anyone in hong kong including u. S. Citizens at risk of extradition to Mainland China. Over the last 16 weeks, millions of people from all waux waus of life in hong kong have taken to the streets from an unprecedented and sustained show of unity. The protesters have inspired the world and risks their lives, health, jobs and education to fight for the future of hoc congress. Thank you for your courage and bravery. We stand with yo stand with you. They used unnecessary force to target those using dem Trump Administrations. The commissioner has called for an investigation. The uk has suspended export licenses for the sale of tear gas gas and crowd control equipment. And the