Announcer news the build a better bay area. This is abc7 mornings. Its sunday, june 16th. Good morning, and thanks so money for joining us. Im chris nguyen. Lets start with a first look at the accuweather forecast. Lisa . On live doppler 7 a lot of cloud cover for this fathers day. The marine layer is extensive. Heres a look from san rafael, a lot of cloud cover, numbers in the 50s, 58 in oakland. Mountain view is at 59. 60 in san jose. From the airport, 44 minute delays at sfo. The peninsula, in the upper 60s later on. San mateo, low 70s redwood city. Right now in the east bay, upper 50s to low 60s with the cloud cover. San francisco, you will be below average, many cities today continue that trend. Slightly warmer than yesterday. Numbers, cool up the coast, warmer inland just by a few degrees today. Developing news on the peninsula, all lanes of highway 101 in redwood city are back only after multiple crashes. The first happened just after 2 00 in the north bound lanes. The chp says
pre tax profits ringed in at $7.7 billion in the third quarter. now, this is all driven by rising global interest rates feeding into their balance sheets. but there have been questions before that these high rates were not being passed on to savers. joining me now is the independent banking analyst, frances coppola. nice to see you, doing rather well. i imagine those paying higher mortgage rates and everything it is a bitter pill. tell us more about the numbers? it is yet tell us more about the numbers? it is yet more tell us more about the numbers? it is yet more profits from their very healthily inaudible it has shrunk ever so slightly in this quarter but it is still way above where it was last year and that does reflect the fact that they have passed on interest rates to lenders much more quickly than they have to savers, which i think some people might get quite cross about. ~ . ., , , about. wanted we are seeing, is we are seeing about. wanted we are seeing, is we are
but that moving patients many of whom are in intensive care is impossible. more from the middle east in a moment. more from the middle east in a moment. time for a look at the business news now with ben thompson. good afternoon, ben. thank you very much. let me bring you up to date. let me bring you up to date. we start in china, where the world s most indebted property developer evergrande has been granted more breathing space by a court in hong kong, before a decision is made over its possible liquidation. the firm, which owes over $300 billion, has until a hearing scheduled for 4th december to come up with a new restructuring proposal, as nick marsh reports. evergrande has got five weeks to achieve what they have failed to do for the past two years, which is come up with a repayment plan that its creditors will agree to. now, if they don t manage to do this, then liquidation is a possibility, but don t think that that would mean the end of the evergrande story. in
cheaper for customers because it makes their products cheaperfor customers in because it makes their products cheaper for customers in other countries to buy. the yen has been steadily depreciating against the us dollar and that is likely to continue boosting export profits forjapanese export profits for japanese companies export profits forjapanese companies according to damien thong the head of japanese equity research. it thong the head of japanese equity research. equity research. it is a big tailwind for equity research. it is a big tailwind for firms - equity research. it is a big| tailwind for firms exporting from japan and also firms which manufacture outside means a lot of the profits they generate overseas will be brought back to japan and a overseas will be brought back tojapan and a very overseas will be brought back to japan and a very attractive rate of exchange. rate of exchange. japanese companies rate of exchange. japanese companies have rate of excha
If you ever built a house or renovated your apartment then you know how many things can go wrong the plumber says he has to wait until the electrician is finished the guy who does the wood and flooring so the builders have no work to instructions the painters have brought the wrong paint and the architect is just shaking her head well now imagine building a power station or an airport today made in germany is thinking big and i mean really big hello and welcome to the Program Every big project starts with an idea then you need to make a plan if your idea is very ambitious you might find that you need components that dont even exist so when maverick entrepreneur elon musk announced his plan to build a hyper fast train line that runs at speeds beyond one thousand Kilometers Per Hour he needed a seriously fast propulsion system which didnt exist so i decided to run a competition for the fastest one a group of german students thought how hard can it be. This could be the future of travel r