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Pricing surrounding the feds next rate decision. Plenty of great coverage coming up. Lets get a first word news update with olivia hows. Olivia at the vatican today, russian president Vladimir Putin met with pope francis. It is a sign of closer ties between the kremlin and the catholic church. Russian officials said the meeting would focus on syria and ukraine. Tomorrows the pope is due to hold talks with the ukraine about conflict in that country. British special forces have seized a supertanker suspected of carrying iranian oil to syria, in violation of u. S. Sanctions against the syrians. The tanks are ready to go, and the fighter jets are set for the flyover, all part of President Trumps changes to the two directional fourth of July Celebration on the National Mal ....
Would be interested in hiking 127. 19. Ut nevertheless, vonnie we are seeing the rally moderating, but we continue to grind up in u. S. Equities and global equities. China mentioning stimulus measures overnight, and that had companies metals rallying today. We are still up about 1 4 of 1 . A couple of stocks to mention, beyond meat down 20 today. Not exactly the worst day for beyond meat, the underwriter saying on a valuation viewpoint, beyond meat is really full at this point. Sprint down 6 , tmobile down with the state attorneys general filing an antitrust lawsuit against the merger. We will have to see how that plays out. Guy we will certainly see how that one plays out. Basically we are in a situation waiting for the cpi data tomorrow. Will that or will that not confirm whether the fed is going to be delivering a rate a rate cut . The trade tension story certainly there as well. We are trying to figure out what the earnings story is going to look like. My big question, why would yo ....
because the eurozone s largest economy is now officially in recession. germany has had two consecutive quarters of negative growth. the country s economy contracted by 0.3% between january and march. this follows a contraction of 0.5% in the final three months of 2022. a drop in consumer spending was main cause of germany s disappointing performance in the first quarter, with household consumption falling by 1.2%, as the cost of living crisis continued to cause headaches for millions of people. joining me now is christian schulz deputy chief european economist at citi bank. thank you for being with us. perhaps no great surprise for those who watch those numbers, but it is symbolically important that what was once was a powerhouse economy is now technically in recession. technically in recession. indeed. germany s - technically in recession. indeed. germany s. .. they ve technically in recession. indeed. germany s. .. they ve had - technically in recession. indeed ....
that s the first increase after five consecutive months of declines. consumer prices edged up from 6.9% in march, which could further encourage the european central bank to raise interest rates on thursday. joining me now is christian schulz, deputy chief european economist at citi bank. lovely to see you. so, the number is on the up, no great surprise considering what we have seen elsewhere, but the big question is how the central bank response. the ecb has made some progress, i guess, the base rate was in double digits at the end of last year, we are now down to 7%. no further progress in april, it seems. looking at the details, there are some positives. food inflation is down, it had been rising and rising. hopefully that is a trend that will continue. also called goods inflation, that is also decreasing for the first time. the bad news is, for the ecb, that services inflation keeps rising and thatis services inflation keeps rising and that is the surprise in this, r ....
we begin in the us in what could become the largest product liability settlement in history. the pharmaceutical s giant, johnson &johnson has proposed paying almost $9 billion to settle tens of thousands of lawsuits that allege the company s talcum powders causes cancer. the new move seeks to resolve all current and future claims and follows a decade long legal battle between plaintiffs lawyers and johnson & johnson. my colleague samira hussain with the details. johnson &johnson johnson & johnson has johnson &johnson has been dogged for use by claims that its talcum powder causes cancer. in 2021 it settle a lawsuit in newjersey brought by 21 women who blame the company for that very cancer and is set aside another 2 billion to try to settle all future claims in what could add up future claims in what could add up to thousands of lawsuits. now the company says it will increase the potential size of all settlement to 8 $.9 billion. the company stopped selling it talcum p ....