Steve mnuchin the treasury secretary says that the Trump Administration does not intend to intervene in the currency markets right now. And mixing it up. Well be getting the inside track on a Company Making a stir with its cake mixes. A global slowdown in the diamond market is hitting the sales of industry giant de beers. Today we want to know have diamonds lost their lustre for you . Let us know just use the hashtag bbcbizlive. Hello and welcome to business live. The Business World reacts to the british Prime Ministers decision to suspend parliament in the run up to brexit. The speaker of the house calls it a contitutional outrage. Business groups here in the uk have been quick to condemn the move. The British Chamber of commerce says while the bosses lobby group, the confederation of british industry says the uk government, though, says its working closely with businesses and unions across the country to help ensure they are prepared for the uk leaving the eu on october 31st, whateve
Todayreasuries are posted closed today because of labor day. If you are americans watching us, happy labor day. This is the picture for eurodollar. 1. 09. Have the german figure a short while ago that was worse than expected. The european stoxx 600 gaining but it is all about the trade war. Up, we speak to the chief economist at 10 00 a. M. London time. Lets get to first word news. It is Sebastian Salek. It forced 185 mileperhour winds and could top 23 feet. It may leave the islands devastated. Uncertain if dorian could hit makeda on my or not landfall at all. Argentina has imposed capital control. Corporations will require centralbank authorization to buy dollars in the fx market fx market. The president is trying to stem the growing economic crisis eight weeks ahead of president ial elections. Thelor Angela Merkel euro skeptic alternative to germany did not make a breakthrough in local elections. The result may save prices in berlin. Saudi arabia is putting its portfolio into two min
,fficials warning protesters stepping up its rhetoric on that front. David one of the interesting things is how any people are demonstrating. One recruiter one reporter said it is fewer people, but they are more violent. Nejra we have seen this. Everberate through the markets youre seeing u. S. Futures negative now. They were positive earlier. The 10 year yield dropped 10 basis points last week. We are down to a 1. 69 handle. Session backodays about 1500 an ounce. David the one clear winner is gold for the last week or two. Morning brief. E we get cpi data, followed by china retail sales numbers. We get german gdp numbers. Thursday it is u. S. Retail sales for last month, and walmart reports earnings. Friday, the u. S. Reports Housing Starts for the last month. It is time for the bloomberg first take. We are joined by Brooke Sullivan in new york and Kristine Aquino with nejra cehic. Lets start with argentinas shock, a big defeat for mr. Macri in the primaries that suggests he may not g
We start here in the uk, with travel worries for thousands of Airline Passengers as pilots at europes biggest budget carrier, ryanair, walk out on strike at the height of the Summer Holiday season. The action by ryanairs uk based pilots began at a minute past midnight and will run until midnight tomorrow, the busiest day of the year for air travel. Ryanair is due to carry over a quarter of a Million People on more than 1700 flights from the uk over the 48 hour period. Its drafting in extra pilots and has promised to operate a full schedule of flights to and from uk airports. But it says it cant rule out small delays or changes to flights. Its telling passengers to check their sms or email or the compa nys website. More industrial action by uk pilots is planned between the 2nd and the 4th of september, unless an agreement over pay and conditions is reached. Ryanair failed in a court battle to get the strike blocked by britains high court. But it did succeed in stopping a strike by some
Day of positive territory, but have subsequently rolled over. That happened mid morning, and now we are moving along the bottom. Volumes ok, not great. The stoxx 600 is down by 1 10 of 1 . Banks and airlines are down. The hong kong story front and center. That seems to be the pivotal factor for european and asian markets as people fear what could happen in hong kong. The italian 10 year yield got a little bit of a respite friday. We still have the political story rumbling along. As a result of which, yields are rising, so prices are under a little bit of pressure. Keep an eye on the politics. British pound traded near 1. 21 earlier on. Couldnt quite make it. Vonnie we are following that mounting turmoil in hong kong. Authorities canceling flights after violent protests. Announcing they are working to reschedule flights from six clock a. M. Local time from 6 00 a. M. Local time. Man. Fore us now is yvonne give us a picture. There is still a lively bunch now, but it has gone down from th