Hours. Stock prices are soaring, your own compensation as a stratosphere, the workers are getting a smaller share of the wealth they create and they are working harder than ever. We have a route racial Wealth And Income gap and in the aftermath of the 2008 recession where millions are their jobs, Wall Street made record profits in a pandemic or half a million americans died, we have the highest unemployment, Wall Street still made record profits. I sense a pattern. Like most americans, i want businesses to make money. Some people will be wealthy, that is fine with me. Heres the problem. Under the current system, Wall Street profits no matter what happens to workers because those profits now come at the expense of workers. Your banks are what build that system. We often hear about the invisible hand, but the economy is not physics, it is not governed by scientific laws outside of our control. It is made up of people making choices about values and the society we want to live in. The inv
If robinhood was hoping for an easy ride from the authorities, it will have been sorely disappointed. Not talking about the 13th century outlaw, but the Trading Platform that shares the name. Accused of market manipulation, the app restricted trading in the now infamous gamestop stock as redditers forced professional outfits to take on huge losses. Our north America Business correspondent, michelle fleury, has been following the hearing from new york. This is a new chapter in the gamestop saga, politicians trying to understand how in january, shares were gamestop, Brick And Mortar Video Company rose 2000 and turned wall street upside down. For several days, little investors be beat out big ones with an online reddit form called wall street that. One investor, kate gill, is become the face of the movement and whose alias is roaring kitty, push back against any suggestion he manipulated the market. The idea that i manipulated the market. The idea that i used manipulated the market. Tue i
Companys shares slumped after reports it could be added to the u. S. Blacklist. Discord rains. Oil retreats as opec fails before todays meeting. The uae and pakistan are said to be opposed to the current cuts. 6 00 a. M. In london. It has just gone 10 00 a. M. In the dad. Rally . Uld stop the maybe if yields bust above 1 , but that looks highly unlikely in a world of quasiyield controls. Good to have you back in hq. Annmarie good morning, manus. Glad to be back in london hq. One of the things the market seemingly continues to forget about, but this weekend we heard from all the top experts in the united states. Dr. Deborah birx saying postthanksgiving we are already seeing the disease likely. S 10 times more awake is w keeps her awake is what could happen after memorial day. Aboutey are dealing with 100,000 infections a day. Manus go to the front of bloomberg. Com. We have the headlines coming up across the bloomberg terminal at the moment. Take a look at bloomberg. Com because at the
Will try to fill in his space as he expresses his culinary abilities. Francine we will get clarification on what he is working on. Lets get to the bloomberg first word news in new york city with ritika gupta. Ritika good morning. S p global is on the verge of a giant deal in the Financial Information industry. Bloomberg has learned that the company is in advanced talks to for 44s markets billion. An agreement could be announced as soon as today. It would be the second biggest deal of the year. President trumps coronavirus taskforces propping promising a rapid rollout of the vaccine to 2 million americans i the end of the year. The Surgeon General expects that most americans will have access by early in the second quarter. He says the government hopes to quickly ok requests from two drugmakers for emergency approval of their vaccines. A group of opecplus ministers could reach an agreement on whether to delay januarys oil a fullincrease, before meeting of the cartel and its allies today.
Fishing license. Welcome to bloomberg surveillance. Im Francine Lacqua in london. It is the last trading day in november. Certainly a lot of traders will be feeling the same, but stocks are dropping after this recordbreaking rally. A bit of a pullback on the last day of the month, capping this recordbreaking rally. Oil sliding after ministers failed to reach an agreement on supply. Small caps, energy and companies, banks, that group has been leading the rally in november. Today, a bit of profit taking. A couple of other things im watching for is the price of oil. We talked about that, encouraging news on brexit, which is why we see sterling at 1. 3333. The portuguese 10 year yield come i like that because we are on zero watch, or negative watch for that yield. Word newsyour first with leighann gerrans. Opecplus has failed to agree on an allay to januarys height. Many members support keeping production at current levels but the United Arab Emirates and kazakhstan oppose the move unless