Want to be. Auto stocks drive markets to the green after car sales hit a 5. 5 year high in june amid Strong Demand for luxury brands. Time for a change. Swatch has its best day in over two years as investors shrug off a 20 fall in profit focussing on the watch makers positive outlook. Greece passed the austerity measures required for a bailout. Tsipras urged lawmakers to approve reforms. 229 voted in favor of the bill. Chaos was outside parliament. Parts of the square were set ablaze as they chanted we have been betrayed. And anger inside parliament. Half of the no votes came from syriza as they condemned a very black day for democracy in europe. He wrote a scathing blog in which he likened the bailout to fiscal water boarding. No surprise that he would vote against that deal. He has been very outspoken. Yesterday we saw the deputy finance minister stepping down because he simply couldnt stand behind the deal. Whats so interesting here is that this vote went through because of support
8 million merger as the controversial deal sees them extend control in the largest smartphone maker. Shares of google up 10 in after hours trade. Hello everyone. Seema and wilf are on vacation. A very exciting show for you. This is germanys parliament set to vote on the new bailout deal with greece. That will follow about three hours of debate getting underway now but its widely expected theyll sign off on the greek bailout measures and then we can start the talk on the bailout package. Now this comes as imf chief Christine Lagarde warned about the sustainability of french debt. She wanted to see a full program implemented that includes financial reform. However she reiterated that some level of debt restructuring would be necessary to ease the burden on greece. Lagarde added she expects greek banks to open as planned on monday. Cash withdrawal limits at 60 euros a day but greeces deputy finance minister says that will decrease as the week progresses. This is after mario draghi announc
German Software Giant delivering a mixed bag. Two french luxury stocks today. Shares fall in part to japanese consumer demand and shares in the drinks maker lower. And to our top story in the last couple of hours toshiba announced the resignation of his ceo over the accounting scandal. Hell be replaced by the japanese firms chairman with 8 of the 16 Board Members expected to step down. The changing management is due to this scandal. The president and chief executive will be replaced by the chairman. His predecessor who is vice chairman will also quit. Now we are awaiting for the Leadership Team to announce and tell us about it being made. Its helping the tokyo index approach an 18 year high. The japanese index already trading at a three week high. Investors are cheering the management change. Its going to take time. 8 out of 16 Board Members will be standing down. Thats a lot. Its a big management shake up. More Board Changes to follow they say. Incidentally also now you need to look a
Sentiment. Weak pc demand sending revenue down 5 . But they buck the trend. The turn around strategy pays off as it defies a slow down in china by targeting the high end of the market. Welcome everyone to the show. Shares in apple fell in after hours trade after investors ignore the quarter. They focus on weaker than expected forecasts for revenue in the Fourth Quarter and there were some other reasons they turned sour on the stock. Iphone sales came in at 31 billion with shipments 3 billion below estimates. They also bundled other devices. The tech giant would only say june sales were higher than april or may but the lack of detail left some analysts speculating over the success of the newest gadget. The Earnings Report is also weighing on tech stocks here in europe. Investors are also shrugging off a 32 rise in Second Quarter profits from chip designer arm despite earnings being broadly in mind with expectations. Simon cigar spoke to cnbc earlier about a possible apple takeover. Ther
Firm has no intention of tlashing outtlash thrashing out a takeover deal. Theres nothing to negotiation. Unilever too sales rebound despite emerging markets. The ceo is planning on another year of growth. Overall results 2. 9 underlying growth. This is the 7th year in a row that we have top and bottom line growth. Strong internals as well. And welcome everyone to the show. A number of earnings out of switzerland to cover. First, Credit Suisse beat expectations in the Second Quarter with profit of over 1 billion swiss francs. Earnings continue to suggest weakness in the Investment Bank. Lets get more with carolyn froms urich. As you said numbers were better than expected but the credit doesnt go out to him. Hes only been on the job for a couple of weeks. Yes he might have been very well prepared for that job but were talking about the Second Quarter here and that credit obviously still goes out to the outgoing ceo and im a little surprised to see that the Second Quarter shaped up better