Mcshane. Didnt quite get there on the s p. Were live from joe bidens hometown. Scranton, pennsylvania. Ahead of the presumptive nominees speech tonight at the Democratic National convention. I spent a lot of the day speaking to owners and Business Leaders in the area. You will hear a lot of that throughout the hour. First the top stories. Fox Team Business could have with gerri willis keeping an eye on markets blake burman at the white house as usual gerri, we start with you. What a difference in the markets and what a difference the a day makes. They are shrugging off recovery concerns. The dow powering ahead. The dow on pace to snap a threeday losing streak. It did just that. S p up three of the last four sessions. Nasdaq was the star here. You remember back in march we were under 7,000 . Closing at 11,264 to be exact. Apple, guess what, they have the two trillion dollar crown. That is new market cap for apple. Shares hitting alltime high. Unbelievable at 2,012,000,000,000. Apple is
Anna im anna edwards. Its 6 00 here in london. 7 00 if youre watching in paris or berlin right now. Lets dig into the basf numbers, the German Chemicals business. Adjusted earnings before interest an tax 1. 18 billion. That against an estimate of 1. 16 billion, in line or a touch ahead of that estimate. Q4 sales coming in above the estimate of 14. 1 billion. Theyre proposing a dividend of three euros per share. They say 2017 will be slightly higher. The estimate has been 7. 24 billion for that number. Well get more details as we go through the earnings release. Well be speaking to management of basf. Lots to talk about with chemicals an the agriculture business. Lets also get to some other things coming up in the show. The French Defense business is reporting numbers, theyre reporting number this is morning. They see adjusted renews rising 3 in 2017, thats the guidance part of things. The 2017 adjusted 1. 804 billion and theyre paying a dividend of 1. 52 a share, the divedebbed up by 1
Add. The e. P. A. Has also finalized similar regulations for Industrial Boilers and cmac kilns. Together those regulations are having an impact of more than 63 billion on the economy. By the way, no ones refuted these figures. 63 billion on the economy and they have destroyed 800,000 jobs and may result in the shutdown of 18 cement plants around the country. In another section of the law, the e. P. A. Put a rule together knowing it would increase the cost of gasoline. The rule is known as the tier 3 rule. And it regulates the amount of sulfur that can be in gasoline when it leaves the refinery. Tier 2 standards were put into place back in the early 2000s and that resulted in a 90 decline in the sulfur content of gasoline by 2010. Thats already behind us. Thats been done. And it had a measurable impact on the environment. The need for a tier 3 standard is not articulated very well. In fact, e. P. A. Did not have any unique Scientific Data to support the key benefits of this rule and the
Im dave briggs. Im christine romans. It is 5 00 a. M. In the east. This is the big story. The white house and allies quick to seize on a report from the Justice Department watch dog on fbi actions before the 2016 election. The doj Inspector General calling former fbi director james comeys actions extraordinary and insubordinate. He was not politically motivated. The report details numerous failures by top officials heading the Hillary Clinton email probe. Concluding the fbi actions cast a cloud over the bureau. One of the ironic findings, comey used a personal Gmail Account for official government business. And in the other issue with the fbi, peter strzok and lisa page. The Inspector General did not rule out antitrump bias with strzok. He noted the russia investigation for a month instead of following up on a cache of clinton emails. This is tout by trump allies by deep state conspiracy to damage the president and using it as fodder to get rid of the russia probe. Trump lawyer Rudy Gi