You need to do. Disco. Subscribe to documentary. I think. Investors drop saudi stocks in light of the case and the last of the big Foreign Companies pull out of a key Investment Summit in riyadh officials scrambling. Just one notch above junk status a Credit Ratings downgrade for italy of one of the markets wide and one of australias last piano makers adds a full two walk to his latest creation but will the instrument keep an age old craft alive. Ive been physical and lets do business just about everyones bailing out now the saudis a struggling to get their International Summit up and running. Siemens chief executive joe kayser is the latest to pull out of the future Investment Initiative following the killing of journalists. The german engineering giant is one of the last companies to decide against sending its top executives to the posts in the days that Many Companies including j. P. Morgan and ford had canceled as well as u. S. Treasury secretary stephen moved. To give a response t
Joe kayser he announced his withdrawal following pressure to respond to allegations of saudi involvement in the killing of journalist jamal. A turnaround since last week when qasr said he was still planning to attend in a statement posted on his linked in profile he said i will not attend the future Investment Initiative twenty eighteen its the cleanest decision but not the most courageous one and its not a decision against the kingdom or its people its a decision based on how much responsibility one can assume at one time for now the truth must be found and justice must be served. Cases one of several Business Leaders who find themselves in a moral quandary in the run up to the side of the conference but the wording of his statement especially his eagerness not to condemn his would be host its a reminder that for Many Companies this is primarily a tradeoff between profits and p. R. Our financial correspondent. Following. He joins us now from yans american firms were much quicker to pu
The ceo tells cnbc the investments are bearing fruit. Our innovation pipeline is delivering when you look at the filings with some cell and gene therapies, and filings of other upcoming launches, you get the sense that we have a strong Growth Profile building in our innovative medicines portfolio. And he mixed messages on italy coming out of brussels austrias Prime Minister warns any overindebtedness is a danger for europe good morning welcome to street signs. Well take you to some live pictures of the eu leaders arriving at the summit in brussels we know they had a dinner where theresa may gave a speech to her counterparts, and out from that we got the proposal for an extra year of extension of the transition period weve been talking about. Well get a bit into more detail on that topic as the show goes on we have various leaders arriving we saw angela merkel, the dutch Prime Minister is also there that is European Council president donald tusk there as well it is not all about brexit
Rate hike. Australian stocks are down 6 10 of 1 . Japan is the clear at performer today. This is hovering around 113. That is helping to boost this. This is inching closer to that 114 handle. There is a canadian boost ahead of the net video. It could be hours away from reaching an agreement. We are under quite a bit of pressure here now that we do see a lot more of these strategists ratcheting up their cause. Jp morgan sounded the alarm saying they are factoring an allout trade were now and more weakening could be for the renminbi. We are seeing a mixed bag for asia. This is a very tragic situation here. This is a senomyx as well. An earthquake over the weekend. We are flat on the currency. There arent a lot of close here. Yield is taking lower. We are seeing a bit here for sovereign debt. We want to watch the stocks that could be related to the recovery of efforts there. These construction stocks are seeing a decent bid. We are up 4 10 of 1 . A lot to watch here when it comes to not j
Up again electr General Electric is removing flannery stocks sending higher, canada and the u. S. Reached a deal. Tha theyll join mexico to revamp. Elon musk agreeing to pay a 20 million fine and give up his chairman seat for at least three years. Lets get straight to John Flannery, out of ge and now is larry cope Thomas Horton is the lead director the Company Announced will take a 20 billion noncash charge for the power business david, you have been all over this all morning long and talks among other things of the huge cultural shift to bring someone from outside as chairman and ceo interestingly as well, mr. Culp taking that job, he has been on the board not too long and eventually selling down these stakes and baker used the ge company it will be interesting to see. He does not have an office yet hes getting there and sitting down and trying to figure things out. The board is frustrated by the Decision Making by mr. Flannery, you can see a positive response this morning well see ho