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And the countrys upcoming general election. Anna welcome to countdown. Im anna edwards. It is 6 00 in london this tuesday morning. Lets talk about what is happening in markets. The feds brainard speaking overnight, talking about what she sees as the case for really pausing and not hiking rates in september, purging them urging them with less urgency which is really setting the agenda for markets. We will look at the u. S. Equity session yesterday, pushing equities little higher. The story in asia is a little more complicated, some markets were closed previous day so there is not a downdraft from previous bouts equity market nervousness. Is not. Features quite like yesterdays trading picture so that is taking the edge off the asian trading day. We have the aussie dollar at light of the chinese data out in terms of the retail sales numbers, the factory output numbers. All of that looking better than estimated, but the Australian Doll ....
What is going on in germany. We have breaking news. This is germanys largest power producer. We are ready have some of the topline numbers. They prereleased some of the numbers. They were suspending their dividends. We have details on how the performance is going. 2015are talking about the net loss going in at 170 Million Euros. A profit previously of 1. 7 billion euros. The adjusted net income we were expecting this is the unadjusted number. The operating result has also fallen compared to the Previous Year. We are getting a breakdown of how they performed in all of the various parts of their business. Ae Bigger Picture story is broader story about power prices at their lowest level since 2002 in germany. A shift to renewable is underway putting pressure on the struggling coal and gas part of the business. They are puttin ....
London headquarters. I am francine lacqua. Decision not to hike Interest Rates last thursday. Morning that the euro may fall. Lets get some Quick Reaction from andrew parry, he is head of equities. He manages 29 billion pounds in assets. Thank you for joining us. Andrew, your first quick thoughts. We disappointed that the fed did not take that window to hike rates . Andrew you can see in the markets reaction that everybody disappointed, even though it was expecting them to raise rates. How the markets reacted was a clear statement. That was the frustration. Is the message that they are sending in the dumbest comment. Is it the conditions that are worrying . Francine are you worried about china . A focus on m a for example. Andrew we try to focus on the bottom up. Statement,ays a economic start to admit as statistic. Statistic. A broad direction of travel is important. Thats w ....
From bloombergs European Headquarters. Lets get to our top story, credit squeeze. Raised capital as a part of its strategy. Francine lacqua is on location. Pressing, a good morning to you. A great interview so far, talking to tj talking to tg tijian. Francine it was quite strategic overall. Clearly focusing on the wealthy in asia. He did say he will unlock value in the swiss bank. Handinhand with costcutting. This is what is getting investments investors worried the most. You have to be efficient no matter what. That [indiscernible] it is a very serious decision. Something we will like to keep. We have pushed for selfhelp. We are rightsizing the Investment Bank. We are cutting by 72 . We are cutting prime. That is good to free up capital, because we are reducing the capital cost. Where cutting cost of 3. 5 billion we are cutting costs, 3. 5 billion. 2. 7 initiatives w ....
Earlier today. The eastern and south eastern areas. But today we will see increasing amounts of cloud in the rain is quite heavy across some North Western parts of the uk as well as wales. The man has been piling in from the atlantic and earlier on in Northern Ireland it was quite heavy. Particularly heavy across central and northern wales now but the heaviest of the rain i think in the next 2a hours or so will probably fall across the Lake District and south western parts of scotland. To the south of that bit more patchy here and there. A mild south westerly wind with bits and pieces of drizzle here and there. Certainly not a cold night. Tomorrow the High Pressure is to the south of us, low pressure to the north so we are closer to the low pressure. Blustering wind ....