Transcripts For BBCNEWS Business Today - NYSE Opening Bell 2

Transcripts For BBCNEWS Business Today - NYSE Opening Bell 20240924

To the us economy. Another sector expecting a boost aS Property, with Reports Majorfund managers in the uk are looking to buy the dip in us commercial property, anticipating a recovery. Ifjoining me now is Clayton Triick from Angel Oak Capital advisors. Are you surprised to hear Uk Investors are looking to jump into americas beleaguered commercial Property Market . We are not at commercial Property Market . Are not at all. We have seen recent reports and in the last 12 months it has been very good market be stepping into, us commercial properties. Its the kind dotted at the Monetary Policy has continued to be very tight and there has been a headwind for that sector. In the last 2a months that cut of 50 basiS Points could turn men into a tailwind looking forward so we are not surprised investors are looking to take advantage of that. You investors are looking to take advantage of that. Investors are looking to take advantage of that. You have got the Markets Advantage of that. You have got the markets trying advantage of that. You have got the markets trying to advantage of that. You have got the markets trying to eke advantage of that. You have got the markets trying to eke out i the markets trying to eke out another record on the dow. There is optimism amongst investors. Whatever sectors do you think will benefit from falling rates . We you think will benefit from falling rates . Falling rates . We actually wrote about falling rates . We actually wrote about this falling rates . We actually wrote about this last falling rates . We actually i wrote about this last month. Falling rates . We actually wrote about this last month. We think bonds are a very interactive investment for the second half of the urn for next year as Interest Rates should continue to fall. There is so much debate and 50 basiS Points was a big signalfrom much debate and 50 basiS Points was a big signal from the much debate and 50 basiS Points was a Big Signalfrom The Fed but we are looking at how much more they could the rest of this year and into next year. We have seen numbers come up this morning and we talk about continued Rate Cuts in the cycle and that should be very bullish for Bond Markets in the us. To kick it off around us Mortgage Bonds. We think Mortgage Bonds. We think Mortgage Bonds. We think Mortgage Bonds are extremely cheap. That could be a big tailwind in the united states for us mortgages. We tailwind in the united states for us mortgages. Tailwind in the united states for us mortgages. We Ust Heard Rafael Bostic H for us mortgages. We ust heard rafael bostic saying for us mortgages. We just heard rafael bostic saying he for us mortgages. We just heard rafael bostic saying he backed i rafael bostic saying he backed the Half Point Cut and sees morehead. Thank you very much. To the Chip Maker Intel now as rumours grow over potential takeover bids. They were widespread reports last week of an approach by the Tech Giant Qualcomm and reports over the weekend from bloomberg of a multibillion Dollar Investment Approach from apollo global management. Intel has so far declined to comment. Around since the 1960s, intel is one of the worlds biggest chip makers, but its been going through a rocky period with its Share Price falling by nearly 60 this year alone. Chief Expert Malcolm Penn explained some of the Pressures Intel faces. This really is a riches to Rags Saga this really is a riches to Rags Saga it this really is a riches to Rags Saga. It started a few years ago saga. It started a few years ago when intel lost their technological leadership and handed over that pattern to tsmc handed over that pattern to tsmc and allow them to steam ahead tsmc and allow them to steam ahead from the technology. If you lose ahead from the technology. If you lose the Technology Race and give you lose the Technology Race and give up on that it it put you and give up on that it it put you back and give up on that it it put you back on that setting. They were you back on that setting. They were going through thiS Period of trying were going through thiS Period of trying to recapture this lead of trying to recapture this lead and it takes a long time to do lead and it takes a long time to do that and they were very ambitious to do that which requires ambitious to do that which requires good people and a lot of luck requires good people and a lot of luck as requires good people and a lot of luck as well. Then suddenly they of luck as well. Then suddenly they lost of luck as well. Then suddenly they lost their main market. The they lost their main market. The whole emphasis swung from the products they were good at making the products they were good at making the ones that were being made making the ones that were being made by making the ones that were being made by their competitors. Lets head to Sri Lanka now where the left Leaning Politician Anura Kumara Dissanayake has won Sri LankaS President ial election. The election on saturday was one of the countrys closest and the first since masS Protests unseated the former Leader President Rajapaska in 2022 during Sri Lankas worst economic crisis. Archana shukla has been covering the story. He has won on pledges of making it easierfor ordinary he has won on pledges of making it easier for ordinary Sri Lankans who have been with high living costs, he haS Promised to cut Income Tax as well as Sales Tax on essentials like Food And Medicine and hes also spoken of renegotiating terms of the imf loan. How will he be realistically able to manage and deliver on these promises . While at the same time keeping Sri Lankans Balance Sheet positive, it would be a critical task and experts say it could be difficult at the moment. Sri lankas foreign resource of 6 Million at the moment can only last for the next three months. The Imf Programme is halfway through the country and is still on Aid Money and the Debt Restructuring Plan is still not finalised which means Sri Lanka is not out in the market to get fresh loans. To the eurozone now where Business Activity has taken an unexpected downturn this month according to the latest survey on economic trends. The purchasing Managers Index showed Business Activity drop across the block with germany continuing to decline in France Contracting after an olympic bump. All of which could be feeding into something of a sell off in the euro, which is trading sharply down against the dollar. Chris williamson is chief Business Economist at S P global market intelligence, the people behind the survey. Your report makes for gloomy reading particularly about germany. Can you break down a bit more of what you found . You break down a bit more of what you found . Gloomy reading indeed for the what you found . Gloomy reading indeed for the euro what you found . Gloomy reading indeed for the euro area, indeed for the euro area, focused on germanys Manufacturing Sector primarily. ItS Producing sector has been hit by a number of headwinds recently, since the ukraine war its had to diversify away from russian energy and buy more expensive energy from elsewhere. That is made its going to list competitive in a market which has already been damaged by the demand for the Machinery Germany usually exports so well to the rest of the world. China is not demanding so many of these goods now. And also intense competition for sectors such as the auto business. Germany is struggling in this environment and to have the Energy Impacts on top of these forces means its Manufacturing Sector is reeling at the moment. But this is not the only sector in europe struggling. The Services Economy across the eurozone is grinding to a halt. Production of and factories in france is doing badly in the rest of the region are struggling. There is no individual sector thatis there is no individual sector that is the weakest as such, its a broad based malaise that has infected the region as a whole... whole. How Big A problem do you think this is whole. How Big A problem do you think this is for whole. How Big A problem do you think this is for europe . Whole. How Big A problem do you think this is for europe . Its think this is for europe . Its lookin think this is for europe . Its looking like think this is for europe . It s looking like the sector is stagnating at best in the third quarter and we could be on course for a downturn in the fourth quarter. Germany is already in a technical resource recession. There seems to be problems here. The European Central Bank has cut rates but is it cutting them fast enough. The survey brought some good news in terms of prices. So it looks like the Inflation Problem is behind us. The Rate Hikes we have seen has killed off inflation. But they have also killed the recovery as well. So the ecb, the markets are saying the ecb may have to be more aggressive in its rate cutting. Be more aggressive in its rate cuttina. cutting. The chief of the eur0pean cutting. The chief of the European Commission l cutting. The chief of the l European Commission has cutting. The chief of the European Commission haS Put Competitiveness Front and centre in a political priorities. What does Europe Need to do . Need to do . The data this is ke to need to do . The data this is key to a need to do . The data this is key to a lot need to do . The data this is key to a lot of need to do . The data this is key to a lot of you need to do . The data this is key to a lot of you europes| key to a lot of you europes malaise. Its Manufacturing Sector in particular is struggling when you have competitors elsewhere around the world that have got quite aggressive policies designed at Steering Industry to new technologies such as Electric Vehicles and europe really needs to look at what it produces and where it should prioritise its efforts and expand its capacity and if that requires State Aid like we are seeing in the us and india and china, that is what is going to have to happen. To the uk now where the finance minister, rachel reeves, has been laying out her plans for the economy ahead of the new governments first budget next month. The first Ever Uk Female Chancellor Of The Exchequer struck a positive tone, claiming a new era of stability after years of economic uncertainty. Saying this was a pro business, pro Worker Government that will deliver a New Industrial Strategy to unlock growth and draw investment. Im joined by yael selfin, Chief Economist at kpmg in the uk. What is the Uk Chancellor been saying today . Saying today . One of the key thins is saying today . One of the key things is that saying today . One of the key things is that she saying today . One of the key things is that she is saying today . One of the key things is that she is really things is that she is really trying to promote the Growth Agenda and potentially unleash more investment. Public Sector Investment in the uk. That she will still be constrained in terms of where the public finances are because even if the fiscal rules will change a little bit in the Autumn Statement the level of debt is still elevated. So i think they will be some room to manoeuvre but not as much as she would probably help. But not as much as she would probably help probably help. Sitting on the side of the probably help. Sitting on the side of the atlantic probably help. Sitting on the side of the atlantic after probably help. Sitting on the side of the atlantic after the | side of the atlantic after the Liz Truss economic plans, investors here in the us have been confused by What Britain is doing. Do you think she can Restore The Uk because My Credibility . Restore the uk because My Credibili . ,. Credibility . Lets hope so. We will need credibility . Lets hope so. We will need to credibility . Lets hope so. We will need to wait credibility . Lets hope so. We will need to wait for credibility . Lets hope so. We will need to wait for the will need to wait for the Autumn Statement but as long as she is relatively clear as to whether she is going to borrow more and how that is going to be used and how that is going to be invested, i think that is still possible. She iS Playing two cards, on the one hand she is relatively conservative in terms of how she wants to preserve public finances under control spending. Preserve public finances under controlspending. But preserve public finances under control spending. But on the other hand she is relatively ambitious in terms of the investment that she would want to make. So its a fine balance that she would need to tread in order to retain market confidence. Order to retain market confidence... Confidence. Thank you very much forjoining confidence. Thank you very much forjoining us in the us the dow looking to add to that record and obviously here just at the start of the day. That is all we have time for. To stay with a share on the bbc. To stay with us here on the bbc. Hello from the bbc sport centre. In football theres been a long awaited breakthrough in the search to find a buyer for Premier League Side everton. The friedkin group, who also own italian side roma, have agreed a deal for Farhid Moshiris 94 stake in the club. The american Investment Group had previously agreed a deal in principle injune, but talks back then broke down. The new agreement is still subject to approval from the premier league, football association, and financial authorities. A big blow to barcelonas hopes in La Liga and the champions league. Goalkeeper and Captain Marc Andre Ter Stegen is set for a long spell on the sidelines. The club have confirmed the german international suffered a serious Knee Injury during sundays 5 1 victory at villarreal. Hes going to have surgery with no timescale yet put on his return. After the Game Barcelona Coach Hansi Flick admitted Ter Stegens absence will be huge. Spanish Football Broadcaster Alvaro romeo says it means uncertainty for barca. The

© 2025 Vimarsana