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time now to get down to business. let s start here in the uk where prime minister liz truss has been announcing her new cabinet. she has been busy into the late hours. she s decided to give kwasi kwarteng the second most powerful role in downing street after appointing him as new chancellor of the exchequer. mr kwarteng has a tough job on his hands and takes over at a critical time for the uk economy with millions looking to him for help with soaring winter energy bills. so, what about the man himself? he attended the exclusive private school eton college and went on to graduate with a double first from cambridge university in classics and history. kwarteng then went on to work as a columnist for the daily telegraph and a financial analyst at banks, includingjp morgan. more recently, he was appointed as business secretary in 2021, replacing alok sharma in the borisjohnson government. that is a short synopsis. joining me now is fiona cincotta from city index. nice to see ....
That either increases or decreases inflation, the fed is a to offset that with an adjustment of monetary policy. have to amend that and the fed doesn t necessarily offset all changes in inflation. they do allow what they call supply side adjustments on supply side adjustments on supply level and focused mainly on demand side inflation. if the policy successful in reducing inflation from the supply side, it could theoretically reduce inflation a little bit. maybe the drug pricing area is one area where it could have a small dollar effect on inflation.- effect on inflation. when it comes to effect on inflation. when it comes to this effect on inflation. when it comes to this so-called . comes to this so called inflation reduction act, a lot of it is dependent on very long term policy changes, isn t it, and if there is a change of government at the next election could notjust be unpicked? yes, i think that is the case. i don t know exactly which provisions could be reversed but in rec ....
Americans. purdue is currently in bankruptcy court, trying to settle thousands of lawsuits brought against the company, filing for bankruptcy almost automatically puts all of those lawsuits against the company on hold. but crucial point. that doesn t stop the mounting pile of lawsuits against the family behind purdue pharma, which was enriched to multibillion dollar effect by the sales of oxycontin and that has taken billions of dollars out of the company as the company approached bankruptcy. so bankruptcy stops the lawsuits against the company but not against the family. except now tonight lawyers for purdue are asking the bankruptcy judge to also put on hold all the lawsuits against the sacklers personally, which is an effort to try to shield the family s wealth from these lawsuits. lawyers as of now are asking for an injunction against lawsuits against the sackler family personally because they say they are related parties to purdue in the overall bankruptcy case. ....
Then you have that trade were, that ongoing trade spats between the u.s. and china. that s why you are looking at apple, saying they are going to sell less iphones than anticipated in the world s second-largest economy. we have had this in the market for the wild. we know that they have been slowing down. we know there s a strong dollar effect. we know that there are ongoing china trade tensions. the fact that we are looking at apple right now getting hammered, some are thinking apple should have come out ahead of this because we have the suppliers telling us weeks in advance that they were looking at iphone orders decline. apple trading at its lowest level in 18 months, harris. it s its worst loss in six years. harris: i can t even speak to the fact that they didn t know that was coming seven days later, that feels disingenuous. that s tough. really quickly, when i sat down with the president a couple weeks ago at the white house, he told me i asked him if china would capitulate s ....
There is no possibility they would score it at a trump level. that s a good point. you say what s it going to take to build a wall. what s it going to take to get man back on the oh moon? the bureaucracy or donald trump? what trumpism is the cutting through the baloney, eliminating the red tape, being frugal and practical. now can answer the question i raised in my monologue. you have a trillion dollar infrastructure project. if you run that through washington d.c., you lose $0.50 on the dollar. don t think of a trillion dollar bill. think of a trillion dollar effect. help me out. okay. we set up a public private partnership and folks run in and say i m going to put up half the money. federal apt fell. we say to the canadians let s do ....