Cut wall streets Immediate Reaction was pure suspicion. Oh, he doesnt have the heart in the rate cut hes not as worried as he should be hes being dragged kicking and screaming to this rate cut because things are weaker overseas, not here thats why the averages initially got hammered before the market peoplely came to its senses later in the afternoon. Dow only closing up 36 s p advancing 0. 03 and nasdaq declining 0. 11 . The u. S. Economy does have a lot of strength. It does. The rest of the world does have a lot of weakness so we got what pundits were calling a hawkish cut. Theyre so clever, meaning its the last rate cut or maybe the penultimate rate cut apparently that wasnt enough for some money managers. What do they want they were so disappointed they wanted to be surprised and wanted powell to tell us hes enthusiastic about easing and it will find a way to strongarm the others the bulls wanted Bill Belichick fed chief, okay. Lets get this done. Do your job chairman who wont let
Instant with a tweet the market thought of as transplant china at the u. N. Speech accusing china of states subsidiaries. And unfair trade policies. Not only has jhana declined to adopt promised reforms it has embraced an economic model. Depended on massive market barriers heavy state subsidies currency manipulation product dumping forced Technology Transfers and the theft of intellectual property. And also trade secrets on a grand scale. The market is still on edge as the repo market crisis continues to persist despite the poor 100000000000 dollars already pumped into the system by the fed over the past week this temporary problem this Technical Glitch is not resolving itself as they previously reassure the markets that continued rhetoric from the fed was. Everythings under control and that these are merely short term funding shortfalls that will soon disappear once the tax payment and bill sediments were absorbed well that has all been proven false instead the dollar funding shortage
Been a major topic at the United Nations General Assembly as president has taken aim at among others he joins us from across the pond for an indepth look at the current state of the Global Economy. Theres a studios of some just. What is it about eccentric c. E. O. s that is leaving the Business World on edge investigative journalist ben swan is on deck today to analyze the habits of these corporate characters and what their wises and falls mean for markets some market watchers say the valuation of today show is still rising even as it starts lets go. Market sentiment once again has swung towards optimism as hope for a potential trade deal or at least a partial one between china and the u. S. Lifted. Chinese importers ended up buying 10 boatloads of u. S. Soybeans and granted new waivers to several domestic state and private firms that exempt them from metallic tory tariffs this morning open sharply as momo goes with equities up and say things like gold and. Falling but this was short l
For tens of thousands of passengers. A warm welcome to the Programme Briefing you on all you need to know this in global news, business and sport. Also in the programme how cynical are you . Tom hanks plays fred rogers, the us kids tv host, to counter cynicism which has become the default position for so much of daily structure. So do you agree . Are we far too cynical and not optimistic . Tell us what you think just use the hashtag bbcthebriefing. So its looking like another momentous week in british politics and for borisjohnsons government. Later today, mps will vote for a second time on whether to hold an early general election. Also today the mps bill forcing mrjohnson to ask for a brexit extension in order to avoid no deal is set to become law. And then, possibly later today but certainly by thursday, parliament will be suspended or prorogued. Gareth barlow reports. It is the start of another intense week for brexit and for british politics. It is a week where we will see more vo
Volkswagen one of the worlds biggest car makers finds itself back in court today as the company once again faces the fallout of the diesel gate emissions cheating scandal. Hundreds of thousands of german vw customers have joined a first of its kind grouped proceeding to seek compensation from the automaker. The firm admitted in 2015 to using Illegal Software to cheat on emissions tests in 11 million vehicles worldwide. So far the scandal has cost the group over 33 billion, however the vast majority of that sum, 22 billion, has gone to the us in in fines, compensation and legal costs. Vw owners in the uk will be watching with interest as around 117,000 claimants are part of a similar action, also seeking compensation from the auto giant. Simon duval smith, editor of automotive purchasing and supply chain magazinejoins me now. Morning. Talk is through this case. What is it that the group, who were taking vw to court, what do they have to prove . Well, there are 50 questions which are goi