We will start with the us china trade war because President Trump has announced a major escalation in us tariffs on chinese goods, saying that china has broken its promises made in negotiations. The announcement has rocked markets as we saw a moment ago, sending stocks and commodities tumbling. Here is what has them so worried. Resident tom says that from september one, the us will impose a 10 tariff on 300 billion worth of chinese imports that are not already subject to us taxes. This comes on top of the 25 tax already imposed on chinese goods worth 250 billion a year. But they will hit consumer goods such as electronics, toys and footwear. Us business groups have been quick to condemn this escalation. The us chamber of commerce that represents 3 million firms says it will only inflict greater pain on us business and undermine and under wise strong us otherwise strong us economy. President trump began his tweet with praise for the most recent round of negotiations, describing the talk
A first Interest Rate cut in three years for south korea the surprise move comes amid growing trade tensions with japan. Investors wary about some of those delays to trade deals around the world. Reviving a classic well speak to the man whos brought whisky and gin distilling back to an area of scotland that had been running dry for decades. We wa nt we want to know have price rises put you off netflix or are they are too many streaming options . Let us know just use bbcbizlive hello and welcome to business live. We start with the streaming service netflix. Its shares have fallen sharply down almost 12 in after hours trading after the tv streaming giant released disappointing results. Netflix has shaken up the world of tv with its rapid growth but that growth seems to be slowing down as it puts up its prices. In the three months to the end ofjune, netflix had 151. 6 million paid subscribers. Thats a rise of 2. 7 million on this time last year almost half the 5 million the company itself
Live withjohn. Hell give borisjohnson the fight of his life in the conservative leadership contest. Slow progress for the cricketers . Coming up on afternoon yes, sri lanka have asked advantage. Live, all the Sport England chase its turn in 33 3 for england are on top against sri lanka as they go for the win that will victory. England made a good start, return them to the top of the Joffrey Archer took a total of 15 standings in the cricket world cup. And sarah has the weather. Wickets, making him lead out in the competition. In reply, jonny it is the summer solstice today and some summer it is the summer solstice today and some summer like weather on the ba i rstow, competition. In reply, Jonny Bairstow, james vince, owen morgan cards. Heat and humidity rising, the all went cheaply. England are now weekend is looking decent for many, but we are likely to see some thunderstorms late on sunday. You 1193 all the detail throughout the all went cheaply. England are now afternoon. 119 3 aft
Disney also in focus this ahead, of course, that will be an after the bell Earnings Report but the companys espn unit striking that deal with ten entertainment. We will keep an eye on eli lillys record run sparked by not just its diabetes drug but also that very encouraging study in terms of the broader impact of those weight loss reduction drugs. Also an upgrade this morning jeffries. Thank you start with disney and that espn Sports Betting deal sounds like this morning that you wonder why markets not making a bigger deal of it on the disney side. Yeah, because i think one aft things theres 55 Million People who play fantasy. What people usually do is they have their lineup, they put their team on the espn site, but then they go to draftkings to play daily fantasy and daily fantasy is huge in this country now, i think Jason Roberts has done a fantastic job at draftkings, and disney had a stake, but now i think youll stay on the disney espn site to do your gambling and that is very pow