Us treasury secretary janet yellen called the downgrade arbitrary and said Economic Conditions had improved under the biden administration. The news of the downgrade came after the close of trade on wall street but in asia investors have been pulling out of equities in reaction. Lets look at markets now in asia. Japan is currently down by over 2 . Hong kong not that far behind. This was off the back of yesterday, and most of this week we have seen the sharemarket, certainly wall street and asia having a strong session but this is certainly spooked sentiment. Lets discuss this with tom stevenson, whos an Investment Director at fidelity. Good morning. Janet woody allen saying this is arbitrary. I have her statement janet yellen and she said she strongly disagrees and says it is based on outdated data. That is based on outdated data. That is riuht. Is based on outdated data. That is right it is based on outdated data. That is right. It seems is based on outdated data. That is right. It s
oil coloured line, as you might say, between conservative policies and labour policies. conservatives want to paint label policies as dangerous, leading to blackouts and job losses but the reality is the north sea has been shedding jobs for years. the workforce is halved over 20 years because northey is a depleted basin, not much oil there, poor quality stuff. expensive to get out. and we are at the stage where global oil and gas demand, will plateau very soon and start to decline. we appreciate and start to decline. we appreciate your - and start to decline. we appreciate your thoughts on that. we shall be keeping across those meetings today and update you as we get any details. it s a very busy time for earnings news and among those revealing how much money they re making is starbucks. the world s biggest coffee