Anna good morning from london. Manus cranny is in dubai. These are todays top stories. It is a mixed monday for Global Equities as coronavirus cases and u. S. China tensions threaten risk appetite. Mike pompeo suggests action to protect National Security will not stop at tictoc. Shares did as earnings missed the mark. The group says it will accelerate cost cuts. More to come from our exclusive interview. We will hear from sociogeneral after a surprise sociale generale after a surprise loss. Task force head says the pandemic is in a new phase. It has just gone 6 00 a. M. In london. It is 9 00 a. M. In dubai. Normally it is yusuf and i this time. They were very clear, the single worst economy is the u. K. It is one of the weakest economies globally. They have taken a hit. They gave us a global perspective, a wide range of losses. There has been a big shift in the global economy, but it is not going to be enough to steady the ship. The next three to six months will be critically important
Its time to boost your news i you. Know packing and other allied Oil Producers made a deal during a Virtual Meeting today that will take Oil Production to historic cuts arties rachel levin has been following the story all day and shes joining us now with more details to this deal rachel well manila saudi arabia and russia have agreed to a Historic Deal which will see the worlds top will producers cutting output by 10000000. 00 Barrels Per Day amid a sharp decrease in demand from the coronavirus pandemic the deal was made during a Virtual Meeting between opec members and other allied or Oil Producers on thursday and during that conference Russias Energy minister called for unity and warned that if oil prices are not stabilized it will have a massive impact on the Global Economy but you know these circumstances require swift and timely measures all of our Oil Producing countries must poor efforts to change the situation related to the substantial over. Doctrine of oil in the world. The o
Deal keeps stocks near alltime highs. Treasury yields rising. Gold falling below 1500. Shery huawei still see sales growth despite the longrunning ban on u. S. Tech. We hear from the fcc. First, lets get you breaking news out of south korea. We are seeing a balance of payment. 7. 4urplus widening to trillion billion in the month of september. This is coming from the previous month when the surplus was at 5. 2 billion in the month of august. That was also two consecutive months of the surplus widening. We have five months of surplus now after the country posted its first deficit in seven years back in april. It has been under a lot of pressure. We have september exports falling 12 . Now we are seeing 11 months of contraction for those exports and south korea. , alsood balance number seeing the surplus widening to from 4. 7on, up billion in the previous month. Numbers out of south korea when it comes to those payments current account balance. Lets turn to the Australian Market that has c
Crisis. Mark zuckerberg making rounds today on capitol hill. Meeting there with lawmakers amid growing calls to break up big names in silicon valley. Facebook ceo sitting down with senator tom cotton right now. Well bring you breaking headlines that come this hour. Security concerns at the airport. The new move has some critics sounding the alarm, what it all means for you and your familys safety. Melissa fox Business Team coverage. Edward lawrence at white house. Gerri willis at the new york stock exchange, phil flynn watching action in oil at the cme. Lets start to edward. Reporter melissa, trade optimism is happening here. Junior level talks happening with the chinese. This will set up the main event early in october when the two heads of the trade delegation meet, but this could indicate if there is progress for the talks. Wilbur ross says the chinese must show us something this week. If they arent prepared to give on anything were not going to get anywhere. Right, right. Remember
Needle for investors were going to talk about weworks embattled ipo plans and play the long game, thats the white houses message for wall street on china trade stocks pointed to a muted open today. Apple is set to unveil the latest new Iphone Models and other product updates today, features on the phones might include upgraded processors, new camera functionality, the event will take place at the headquarters in california, beginning at 1 00 p. M. Eastern time jim, talking about what else we might hear about, content, some shows rolling out in the coming days i think they have some exciting tv. I want to see trailers i think people are underestimating what they have been working on. I would love to hear more credit card i think that it is too early i do think anyone with the watch, the iterations are getting very exciting. The watch sales, youll hear incredible numbers, i believe. Service revenue very strong. Not sure exactly what to say about the 11, because they have been pretty clos