in the headlines with new ema s trying to overturn the legitimate 2021 results. good to be with you on a friday afternoon. along with seema moody, mike memoli, and ron insana. seema, a significant milestone. this bear market territory that the markets have now touched at this point. something the experts have been predicting for weeks. it s here. tell us more. the earnings story continues to get worse. big names like target, walmart, ross stores confirming inflation concerns. today we heard from john deere, which is struggling with supply chain issues and procuring the parts it needs to fulfill the strong demand it s seeing from farmers, and it follows a sharp rise in wheat and soybean prices. shares of deere down 15%. we have not seen this price action in two years. there s other names like coca-cola, kroger, down 7%, 8%. this while oil prices continue to rise now above $113 a barrel, which means gas prices are up a bit more. i guess the broader conclusion one can draw is
To chris wright, the man responsible for signing Spandau Ballet. The New York Times is offering people a brexit tour of london. It is the brexit means brexit tour. Were asking you today whats your most memorable tour and was it that expensive . Just use the hashtag bbc Business Live. Hello and welcome to Business Live. We start with the worlds second biggest car maker, toyota, which has just reported its latest set of financial results. Its not good news. Full year profits are down 21 . This is the first time in five years that the company has reported a drop in earnings. Our correspondent Rupert Wingfield hayes is in tokyo. Rupert, what more can you tell us about the figures . Good morning, rachel. It is a fall for toyota as expectedment more than expected, but its still, you know, if profits of 16 billion are bad then it is a problem that a lot of companies would like to have, but thats a fall to 1. 83 trillion yen and there is expectation that it will fall again this Financial Year
Eric former Deputy Assistant attorney Thomas Dupree will dig into all of it but we begin with rick leventhal. A stunning set of admissions in Lower Manhattan by a man who was one of the president s most trusted employees. He lied, paid women off he says to pay his boss. He walked out of the courthouse late yesterday free on 500,000 bond pled guilty to hiding income from his Taxi Cab Business and hiding debt to secure a Home Equity Loan and arranging payments to two women in the runup to the president ial election in coordination in and at the direction for a candidate to federal office to try to help him win. Mr. Cohen disregarded that training, that tradition and decided that he was above the law and for that he is going to pay a very, very serious price. He admitted he paid 130,000
to stephanie clifford, Stormy Daniels, because she was ready to go public with a claimed affair with mr. Trump. And he arranged to reimburse a tabloid to bury a story about Karen Mcdougal who also claimed
shares of deere down 15%. we have not seen this price action in two years. there s other names like coca-cola, kroger, down 7%, 8%. this while oil prices continue to rise now above $113 a barrel, which means gas prices are up a bit more. i guess the broader conclusion one can draw is that the earnings story in a way is confirming what some economists have been fearful of, which is an accelerated slowdown in the economy. we ve seen the s&p dipping into bear market territory. is it only a matter of time before the dow and nasdaq follow suit? we ll have to see. the earnings story next week will provide more clarity. we ll hear from names like dollar general, nordstrom, best buy. the color we hear from executives on what they re seeing from consumers across the nation as well as some of the names that perform outside of the u.s., that will provide that level of clarity that investors want on how strong the consumer really is. thank you.
in the headlines with new ema s trying to overturn the legitimate 2021 results. good to be with you on a friday afternoon. along with seema moody, mike memoli, and ron insana. seema, a significant milestone. this bear market territory that the markets have now touched at this point. something the experts have been predicting for weeks. it s here. tell us more. the earnings story continues to get worse. big names like target, walmart, ross stores confirming inflation concerns. today we heard from john deere, which is struggling with supply chain issues and procuring the parts it needs to fulfill the strong demand it s seeing from farmers, and it follows a sharp rise in wheat and soybean prices.