Any new stimulus in sight. And that tiktok trade, you cant really trade it, can you, because its not a public company, but bytedance is formally seeking chinas approval for a deal with oracle and walmart, those are two publiclytraded companies. Yes, they are, jim lets talk markets lets start with that. You know, its funny, i dont know what you make of the pull back today, to the extent we are going to have one or what weve been seeing in apple lately. I keep wondering coming back to that softbank option purchase that we kind of we talked about it for a day or two and then we moved on. Right. You know, a number of people have come back on it with me, jim, and sort of said maybe it had a bigger impact than we realized in terms of the run up of some of these names. It did jack the market up in 1999 fashion which, you know, you know, led to 20002001 which was a disaster and it was frankly unnatural other than zoom almost every one of those stocks that they took up have been crushed apple t
Massive local tax increases. Anyone of those alone threatens to make this economic crisis even worse and the combination of all three is almost unthinkable. The bureau of labor statistics just reported that state and local governments laid off nearly one million workers in april. That is almost one million firefighters, police officers, teachers, Emergency Personnel that should be on the front lines of the Public Health crisis but are sidelined instead. Chairman powell, let me start by asking, do you agree that our economy will get worse if state and local governments are forced to lay off even more firefighters, teachers, any and Emergency Personnel . Let me say what we are doing. We have a liquidity facility that is there to address the shortterm liquidity needs that these entities have because of their loss of revenue due to the effects of the pandemic. That is really the tool that we have. I appreciate that. That is not my question. States,ion is if counties, and municipalities con
To this virtual hearing the honorable steven mnuchin, secretary of the department of treasury and the honorable jerome powell, chairman of the board of governors of the Federal Reserve system. We will receive testimony from the secretary of the treasury and the chairman of the Federal Reserve as required under title iv of the cares act. Congress has appropriated 3 trillion to protect and support americans to fight the pandemic and also to stabilize the infrastructure of our economic system. A large portion of this funding is authorized under title iv of the cares act which provides resources for loans, guarantees, and other investments from treasury and the Federal Reserve 13. 3 emergency Lending Facility and programs in support of eligible businesses, states, municipalities, and tribes. Title iv of the cares act provided 454 billion as an infusion into the Exchange Stabilization fund to support the Federal Reserves emergency lending facilities that facilitate liquidity in the marketpl
Ahead of his News Conference there later today. And samsung shares rise as the Company Beats on Quarterly Earnings. Memory chip prices finally begin to climb out of a persistent downturn. It is 8 00 a. M. Across the emirates, 12 00 midday in hong kong. This is bloomberg daybreak middle east. Im tracy alloway. The middle east never has a shortage of news that this morning with iran announcing a seriesf missile strikes on u. S. Bases in iraq, the First Response to the killing of general soleimani, as i mentioned. Reporters are on standby to walk us through the latest developments. What are we seeing in terms of the reaction from the u. S. . So far, u. S. Reaction has been muted. The u. S. Did not release numbers for casualties, and basically, they are still assessing. President trump says all is well. Basically saying so far all is good. Meantime, meanwhile, we are looking at a response from the iranians where the foreign minister kind of hinted there might be actually a deescalation bec
Cause a housing crisis in the u. S. Apple explains how it plans to make it better in sport fowl and declare when the 115 or its now been kept in australia will tell you why the race that stops the nation has been overshadowed by allegations that have shocked the nation after trying to animal cruelty. Lets get going irans president has announced another significant step away from the 2050 nuclear deal passon rouhani says from weapons to iran will start injecting uranium gas into more than 1000. 00 centrifuges now that process was banned under the agreement but rouhani didnt say whether it will be used to enrich uranium irans gradually been shedding its commitments to this unraveling deal on monday as announced its doubling the number of advanced centrifuges. Those will reduce the time iran needs to build up enough material to develop a nuclear bomb if it chooses to well as of now iran is enriching or purifying you raney im up to 4. 5 percent to help generate Nuclear Power thats above th