Growth and uncertain growth. The aussie dollar is falling sharply on that news. Australian stocks, on the other hand, rallying more than 2 on the news. In asia, japans markets were closed for the Constitution Day holiday. Chinas Managers Index shrinking to a 14month for its 14th month coming in below forecasts. A bit of a mixed picture. Shanghai compost up 2 . And hang seng almost the lower. All eyes on . Yeah, go for it. Moving forward, in pretty negative territory. And germany is lower than 2. Ftse lower than 1 . Italy and spain off by more than 2 perhaps because the eu trimming its 2016 growth forecast to 1. 8 from 1. 9 . Its 2017 growth forecast from 1. 9 to 2 . Also cut Inflation Forecasts despite their efforts to do Everything Possible to try to lift inflation. Watching european financials, ubs reporting a sharp decline in management wealth business. Which was supposed to be all the european banks going into wealth management, they were going to be smoother when it comes to their
Barrel is becoming greater. Well tell you the stocks that could benefit from oil falling that far. Thats coming up in a moment here. A new report says walmart buyers are fighting back against increased fees. Somebody says amazon is to blame for this. Shell explain why coming up. Next week one of the most talkedabout events in financial journalism, the september fed meeting. Our buddy larry kudlow will join us to tell us why he does not think the fed should make a move just yet. Looking forward to that. Lets go to the oil pits first. Jackie deangelis following the action on the back of this big goldman call. 20 a barrel. What impact is it having today . It had a big impact today we settled on the session 1. 29 lower. 44. 63 where wti finished. We were down 2. 5 on the week. Up still 4 on the month. This note today is part of the pressure. Goldman is saying oil is going to stay lower for longer. They are looking at 45 a barrel a year out when they were in the high 50s. It is not their ba
Good morning, everyone, im scott mcgrew. I saw a billboard recently that absolutely stopped me cold because its message was so spot on. Here it is San Francisco, meet your minimum wage replacement, an ipad. Hello, may i take your order, it says. It was placed there by a think tank that opposed the citys move to raise the minimum wage to 15 an hour. Though thats exactly what the city did. And i tracked down the fella behind that billboard. Hes Michael Saltsman of the employeement Institute Based in washington, d. C. And funded by big business. Now, i suspect michael and i disagree on a whole host of opinions, but not on this because this is not opinion, its fact. The fact is technology is quickly replacing workers. Not just in factories. We knew that but especially in entrylevel, lowskilled jobs. There are no toll takers on the Golden Gate Bridge theyve been replaced by fast track. Grocery store Self Checkout nothing new, and restaurants like chiles now take orders via tablet. Mcdonalds
Million for his debut fund. What he plans on doing with the money. That is ahead on bloomberg west. First, uber making the rounds on wall street. The company is seeking a 1 billion credit line from a handful of banks. This according to the wall street journal. The company is in talks with six or seven banks. Uber declined to comment. Bloomberg reported uber was planning to raise 1. 5 billion in a new founding round funding round that would boost its valuation. What does uber want with all this money . Is it an ipo in the near future . Katie benner joins me now in the studio, and from d. C. , gabe klein who works as a special venture partner. Gabe you just invested in lyft. , you are the perfect guy to be talking to about this. This credit line is something that facebook, twitter, alibaba had done before. How close are we to an uber ipo . Gabe klein the truth is we dont know. I think that it is typical for Companies Like uber. Facebook did this they went out and started to build Close R
Money. All of that ahead on bloomberg , west. First, to our lead uber making the rounds on wall street. The company is seeking a 1 billion credit line from a handful of banks. This according to the wall street journal. Which says the company is in , talks with six or seven banks. Uber declined to comment. Earlier this month bloomberg reported uber was planning to raise 1. 5 billion in a new funding round that would boost its valuation to a staggering 50 billion. What does uber want with all this money . Is it an ipo in the near future . Joining me in the studio, katie venner and gabe klein who works as a special venture partner. Idc firm focused on next agenda mobility. Gabe, you just invested in lyft. You are the perfect guy to be talking to about this. I know you have been looking very closely at this space. This credit line is something that facebook, twitter, alibaba had done before. How close are we to an uber ipo . Gabe klein the truth is we dont know. I think that it is typical