Todayis today is a big win for European Citizens and tax injustice. Trouble in the pipeline . The price of oil tumbles below 70 a barrell for the first time since 2021 as concerns grow about the state of the world economy. It relates to how two apple subsidiaries in ireland were treated for Tax Purposes between 1991 and 2014. Ireland has a low corporate Tax Rate of 12. 5 but its been accused of so called Sweetheart Deals with certain companies allowing them to pay a much lower rate. The Decision Cant be appealed apple said its disappointed with the decision and accused the European Commission of trying to retroactively change the rules. Here is what the Eu Competition Commissioner had to say. There commissioner had to say. Is a bigger picture, our investigation there is a bigger picture, our investigation has decisively contributed to a Mind Shift and change in attitude amongst member states, they have helped to trigger and accelerate regulatory and legislative reform. Take ireland, to
People might say it has been the best performance currency, thailand. And the bank of thailand. We have an exclusive interview. Kathleen markets have opened. Aussie yields are rising. Little change to the upside after the session on wall street that saw u. S. Stocks pare gains after a fresh eye. The offshore yuan. This check in on the yen morning, holding onto a threeto decline after a wild start to 20, holding onto a threeday decline after a wild start to 2020. New york crude staying below 60 barrel, falling as much as 5. 7 overnight. Oil supplies remain intact. Haidi . Haidi President Trump backed away from a war on iran but said they will be tough, new sanctions until they change their ways. Statesrump the united will meet liam pose additionally additional, punishing sanctions that will remain until iran changes its behavior. , by all assessments, it seems like that reprisal from create noesigned to additional fatalities. Is this a step down for them to theeast put an end to situati
2. 2 on the hang seng sessions. That should take us below the 100 day moving average. Jakarta, nothing much so far. It would take the trunk of Southeast Asian markets. We should be looking at some steep losses. Mse i china down to percent. We are watching out for that. The bonsall of taking place separately. We are softer in crude but it has not been solved for seven weeks of gains on this. Yvonne it is interesting. When you look at how the little space everyone has been pressing down the slowdown in china. Youre not seeing that and it will markets. We will demand in china is looking strong given the pent up demand in travel. Maybe that is the bright spot to the commodity space. Look at Country Garden, this is the story that keeps on giving in some ways. Your of Morgan Stanley same default risk is moving. All those gains we sell post politburo have evaporated. David s they are on the csi 300 which should be at 3800. What is the price target of Morgan Stanley . Yvonne . 75. David 75 mor
Those deflationary pressures, gdp target front and center, will it be 5 . Could it be below five, some say unlikely, but we wait and see in terms of where the target would be. It is also about the fed. We have fed chairman Jerome Powell set for testimony expected to reiterate the fed is in no hurry to cut rates, it is likely to lean towards a hawkish tone. We heard from many officials saying that the fed can afford to wait given the data, given strong inflation remain sticky, and the economy remains resilient. The fed, as well as china, expected to did cake dictate sentiment in the market. Also keeping an eye on thailand, india, as it is said to join the trading day in 44 minutes. Lets look at the set, currently up 0. 3 . This is a market that has been lackluster, one of the worst performers in asia yeartodate. Down 3 on the year. The thai baht has been under a lot of pressure, but today gaining 0. 1 . 35. 805 versus usd, and indian future is pointing to a higher open, up 0. 3 . Adani
Before we talk about markets. Ecigarette maker juul, which, pardon the pun, almost went up in smoke last year, bankruptcy. Were hearing the company is seeking to raise about 1 billion here and it is working with jeffries to do that fundraising effort. The company had a bite had about 800 million in revenue in 2022. The hot headline is they are looking for about 1 billion in funding there. We will get you more details later in the show. That aside, and smoking is not good for you just in case, markets right now, not really up in smoke but we are coming up to lows in the day. Were down for a third day. China opened up and is providing some left to these some lift to these markets. We will flash it on your screens in a moment. Down for a third day. Certain sectors are picking up the slack,. 5 to the downside still. But were stable here. You had a big drop in u. S. Markets overnight, you had a melt up on yields with a 10 and 30 year continuing to move up. We are now closing at 4. 10. It re