A look at the markets around the world whos up whos down this week and why the u. S. China trade talks continue to impact so many economies its a packed show so lets get started. And we begin today with an actual concrete step in the u. S. China trade talks because every day both sides say that they are close but then nothing really happens friday something happened as china has agreed to waive tariffs on some u. S. Soybeans and pork as what they call a goodwill gesture those tariff waivers were reportedly based on applications by individual firms for u. S. Soybeans and pork imports according to Chinas Finance Ministry keep in mind china had impose tariffs in response to the tariffs launched by washington over allegations of chinas stealing and forcing the transfer of American Intellectual property now speaking of tariffs december 15th that is the deadline for phase one of the u. S. China trade talks to advance otherwise a new round of you have to u. S. Tariffs will kick in those tariffs will cover about 156000000000. 00 in. On these imports chinas move to issue these waivers on key Agricultural Products may be a signal to washington its commitment to get a deal done soon and certainly before the deadline. Germanys industrial sector is struggling facing the steepest decline since 2009 put in the euro zones largest economy fell by 5. 3 percent year over year for the month of october according to the federal Statistics OfficeAnalysts Expect issues with the german industrial sector will affect the overall growth of the eurozone economy in the 4th quarter of this year german manufacturing in october also fell by 1. 7 percent with production of capital goods buildings vehicles machinery and equipment dropping by 4. 4 percent the Auto Industry alone which employs more than 80800000 people in the country and actually affects nearly 2000000 peoples jobs has watched as Vehicle Production fell 14. 4 percent year over year. And speaking of the auto sector its got a real shocker on our hands here tesla announced on friday that its chinese built model 3 cars will receive government subsidies teslas model 3 cars being built in its 2000000000 dollars factory in shanghai were on a list recommended for subsidies for new Energy Vehicles which included plug in hybrids battery only electrical vehicles and those powered by Hydrogen Fuel cells 2 variants of the tesla model 3 vehicles are on the list for the generous Subsidy Program so joining us now to discuss this is the car coach to lauren fix all the way from lancaster new york lauren thank you for being with us today. Thank you for having me tesla is aiming to make more than 1000 vehicles a week by the end of 2019 and ultimately push that number up to 48100 a week and a lot of this is about gaining access to the Chinese Market but its not incredible. But it was incredible how to look at to use to exist based upon government subsidies so what you make of this government Subsidy Program. Well the Government Subsidies Program put in place by china was to entice people to switch over to alternative types of propulsion for their vehicles and whats happened unfortunately is when they did 1st put it out people took advantage of it but nowadays cut it cut it back and now only down to 3500. 00 people of course are not buying it as rapidly as they were now with tesla and their model 3 theyre going to get 3500. 00 of credit to a new consumer on a 50000. 00 car now we dont have exact numbers yet of what the tussle will cost of course how you option it will also make a difference and there are 2 different variants this would be very helpful to get some cash flow in pay for the cost of that plant thats in shanghai its going to be very expensive and its going to take quite a bit of time for them to even pull a profit out of china but in the number one car market anytime you can sell a vehicle thats great remember that a lot of chinese consumers will get the same credit toward other vehicles so hes not the only vehicle out there selling with a 3500. 00 credit also keep in mind is that chinas talking about cutting that credit down to 0 so we just dont know when thats going to happen exactly seems like electric vehicles i mean everyones moving in this direction we reported thursday g. M. And l. G. Theyre spending 2300000000 to build an electric battery plant in lordstown ohio its really good news for certainly the people in ohio where lordstown g. M. Once had a plant that was shuttered there a lot of this is the pave the way for g. M. Plan to introduce what about 20 electric models globally by 2023 is that right. Thats thats what theyre saying by 2023 to have 20 electric models the biggest problem for General Motors at least here in the u. S. Is that consumers are not buying them were still less than 2 percent of people purchasing electric vehicles they tend to do well in other countries based on infrastructure and we still had a problem over the thanksgiving holiday where people are waiting 2 and a half hours in line. Charging station and most people are not going to be patient enough for that until theres more infrastructure quicker charging its going to be hard for the average consumer to take on that but whats good about this whole thing with General Motors and l. G. Is the deal they made with the u. A. W. Is that they would try to reopen the lordstown plant and theyre putting the company in there used to be called work course what theyre doing is were going to build vehicles that are electric powered at that plant the problems we are not guaranteed even if theres 20 of them how many need to be built how many jobs will be given back and now moving on there are a number of automakers kind of hitting harder times right now dialer said friday that it will cut at least 10000 jobs worldwide over the next 3 years now this is a move to cut costs as they move towards electrical vehicles are corrected sticking with that electric vehicle. Right many manufacturers of time up to 10 percent cutting both white collar and Blue Collar Workers thats pretty serious quantity of people and why are they doing that is because im not making money on electric vehicles theres no one today who is making money on an electric field with autonomy coming in or at least all those great new technology the biggest concern that theyre having is how do we make that up before doing the laws on the vehicle we need to make a profit at the end of the year across the board so theyre cutting back on employees because they cant come cut back on production costs and thats good big concern because if people dont have jobs theyre not going to buy new cars lauren i actually want to follow up on this electric vehicle kind of segment that weve been there and you know you kind of make these points over and over again that people really are buying these cars theyre not really a money maker for these brands were seeing people just cut jobs due to electric Vehicle Manufacturers when are the manufacturers going to give up on this is bad i guess if thats what you think it is. Well i think the answer is going to be a mixture for consumers it depends where you live what you do what your lifestyle is if you live in a city and you have infrastructure available it makes sense if youre living in manhattan plugging in is a problem because theres no place to plug in especially. Older buildings back from the turn of the century i actually live in a building thats from 1929 theres no place to charge theres no parking garage nearby that has charging so that for that type of situation is a challenge but if you look at a mixture of things especially some of the new technologies that are coming out with hydrogen theyre looking at using algae in other forms of propulsion using compressed natural gas those may be a mixture of some of the solutions that will allow consumers to have options keep in mind that gasoline powered cars are not going away probably not even in our lifetime its going to be a mixture of options for consumers electric vehicles the biggest challenge i have right now is the Earth Minerals are using to build those batteries and china owns all of those mines and that is a huge factor until Battery Technology changes theres not going to be a profit margin yeah were short on time here before we go i want to ask you real quick about nissan and whats going on there because youre talking about all these different cuts that are going on nissan is now foreseen its u. S. Factory and Office Employees to take 2 days off without pay the u. S. Sells this year down 7. 8 percent how bad are things for nissan right now and how do they pull out of this. They are really bad and part of it is this carlos go india where they accused him of stealing money we still dont know where thats going to unfold of course hes saying he didnt steal money they say he did but the bottom line is sales are down about 80 percent and as far as the Profit Margins are down 80 percent thats pretty serious and if you dont have the cash flow then you tell people youre going to have 2 days extra off but youre not going to get paid and thats not good because it causes good employees to look for jobs elsewhere and thats not good for nissan they need to really start turning some things around lauren fix the car coach thank you so much for navigating us through these stories any time thank you oh it is official saudi aramco is the biggest i. P. O. In history saudi arabia state oil giant has priced its i. P. O. At 32. 00 rials or 8. 48 dollars and 53 Cents Per Share raising 25600000000. 00 and beating the previous record holder ali babas 2014 listing this will give the company a market valuation of 1. 00 trillion dollars when the shares start trading on december 11th the listing is oversubscribed soliciting biz of nearly 4. 00 times with the saudi government claim that it wanted meanwhile the i. P. O. Pricing came as the saudis were locked in discussions with opec and members of the socalled opec plus like russia to restrict Oil Production the o. P. s Opec Plus Group appears very close to an agreement here. This week was a bit of a mixed bag for the markets as global trade and certainly hit a fever pitch with china and the United States not be able to get on the same page in finalizing phase one of the landmark trade deal that has been news all over the world lets start with the mo x. Exchange in russia which is down slightly on the week but there is some good news that the world Bank Reported the countrys Economic Growth will be higher than expected and will continue to pick up over the next few years now in shanghai the composite is up just over one percent and it was a lot of a bit of an up and down this week trade worries really rocked the market falling on tuesday after President Trump said a trade deal could be delayed until after the next u. S. Election but picking up on positive trade news later in the week the market was also boosted by news of a strong factory activity in china than initially was expected with the countrys p. M. I. Hitting 50. 2 in november in japan the nikkei up as well as seeing similar results up half a percent and japanese stocks were able to push into the positive following the rise of u. S. Equities amid the positive swing in trade talks plus japan was able to ratify a unilateral trade deal with the u. S. Of their own and in hong kong the hang saying it is also up slightly on the week facing similar turmoil due to trade negotiations its a definitely a theme here between the United States and china taking a dive after it looked like we would have to wait till next year for the deal but picking up steam later in the week as china announced they would waive tariffs on u. S. Soil beans in a goodwill effort moving to india the sensex is down on the week falling 334 points close on friday following all time highs just 2 weeks ago the losses fall mostly in the banking and auto sectors and theres oeuvre bank of india maintained Interest Rates at their current levels while predicting slowed Economic Growth now moving south to australia more than 2 percent. On the week while trade and certainly played into this conversation the reserve bank of australia actually chose to maintain cash rates at a record low point 75 percent which was expected although the central bank has cut rates 3 times since june and then were going to south africa the all shares index is down on the week South African rand face losses on thursday following news of continued economic weakness in the country and data from the nations central bank showed their current account deficit has narrowed slightly but not by as much as they had originally expected there was however a positive news for south Africa Mining companies in the platinum and gold fields now they were able to make positive growth so were going to toss it over to ben now for European Union and the americas brant thanks for that well heading over to europe to start with the cac in the dax they are both down for the week as they were hit pretty aggressively on monday after consolidating for the better part of november this initially set up the market for some more downside but may still relatively make a strong snap back keeping sellers at least for now a day in the u. K. The footsie well it had a absolutely terrible week there were a few highlights toward the end of the week as the pound pushed up having hit the highest level against the euro since may of 2017 new car sales did fall by 1. 3 percent in november compounding a sharp drop the month before an aston martin shares they are up as a canadian billionaire is eyeing a stake in that company over in brazil it was a very very different story here as the able vessel had a very good even record breaking week this on paolo stock market it actually rose 1. 2 percent this wednesday december 4th and for the very 1st time closed above the 100110000 thats the word point benchmark breaking a new record wall street banks have broadly bullish bets for brazilian stocks with j. P. Morgan and Morgan Stanley seen an acceleration in Economic Growth and strong rotation to equities from fixed income boosting the local markets in north america the b. M. V. Was sharply down this week falling on tuesday and wednesday the s. And p. 500. 00 the nasdaq. New York Stock Exchange all finished the week basically flat in some cases just slightly up its an improvement from where they were at the beginning of the week remember on tuesday president statement that phase one of the trade deal may not get done till after the 2020 election that caused a huge drop but by wednesday things were moving north again when the president said that u. S. China trade talks were going very well keep in mind december 15th that is the date when new tariffs would hit china if one of the deal is not done both the u. S. And chinese negotiators are now saying that they are optimistic to get a phase one agreement before the deadline and finally we go north to canada the t. S. A. Is down for the week as well the week has seen shares of major banks including the royal bank of canada falling sliding Investment Banking fees pressure on margins and an increasingly weak credit environment led to disappointing results and that is this weeks market walk. In time now for a quick break but hang here because when we return its a bit of bad week for 2 of the biggest Ride Sharing Companies as reports of Sexual Assault are hitting both hoover and live art we have Team Coverage of the accusations and how the companies are responding as we go to break here the numbers at the close. Were going to fulfill that purpose is. To the people. Whats the. Now you want to work that. Move no. All. 5 the great in the special can somebody we can benefit so is one of the men of the. Book just put us in the gulf where. You thought the whole doping can russia think was over for get it. Through a complete but i sure would have lost the some of the muscles of the of. 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