Strongly disagree with fitchs decision, and i believe it is entirely unwarranted. Its flawed assessment is based on outdated data, and fails to reflect improvements across a range of indicators, including those related to governance that weve seen over the past 2. 5 years. That weve seen over the past 25 yeas that weve seen over the past 2. 5 ears. ,. , , 2. 5 years. Other democrats used the downgrade 2. 5 years. Other democrats used the downgrade as 2. 5 years. Other democrats used the downgrade as an 2. 5 years. Other democrats used the downgrade as an opportunityi the downgrade as an opportunity to point the finger at republicans. While Republicans Blamejoe Biden and democrats for trillions of dollars in new spending. Many economists dismiss the downgrade, Includingjp Morgan dismiss the downgrade, including Jp Morgan Chase ceo who called it ridiculous and said that the decision ultimately didnt really matter. And he may not be wrong. Us treasurers, that is government ious, remain th
President and not facing a ramifications politically. As a medium effect, short term effect and a long term effect the immediate is hell raise a lot of money. In intensive of support from his core base. In the short term we will see that it benefits him most likely within the republican primary put up as he is being indicted more and more often which is a bizarre thing to say, what weve seen is it reinforces trumps Court Message that the government is rigged against him, theres a two tiered System Ofjustice and so forth. All of which i think is false but it reinforces that political argument from trauma. In the long term is of youre an independent voter, somebody who voted for donald trump and 2016 but then voted forjoe biden in 2020 for the especially important in states like arizona and georgia, we see more scepticism about donald trump coming back. Benefits him in the short term, long term still very real problems with this. Thats on the political fight, much less whats happening in
Force to reinstate nigers president , mohamed bazoum, after he was ousted by members of the president ial guard last week. The bbc s Nancy Kacungira has this breakdown of the issues as we know it. Niger is the largest country in west africa. Its a key part of the sahel region. Thats the belt of land that stretches from the Atlantic Ocean to the red sea. Now, this is a territory thats been Destabilised Byjihadists and military regimes, and thats one reason why niger is so important. It was seen as an oasis of the walk an otherwise troubled reason. So, what went wrong . The soldiers said they staged a coup because of the lack of Good Government and insecurity in the country. Translation the government and insecurity in the country. Translation the action of the cns pete country. Translation the action of the cns pete is country. Translation the action of the cns pete is motivated country. Translation the action of the cns pete is motivated by country. Translation the action of the cns pe
Michelle fleury has more. Americans love of lattes and iced coffee helped starbucks through the worst of the post pandemic years. But with high inflation in the us, a cup of coffee is now 5 on average. The big question for investors going into this Earnings Season was would consumers still spend money on elaborate coffees . The answer was mixed. Sales in North America grew 7 , even after the chain raised prices. That figure was below wall streets forecast. Customer traffic only increased by 1 . Most of the gains came from existing customers spending more money. Sales in china, its second biggest market, rose sharply. Same store sales increased a whopping 46 from a year ago. Starbucks remains a favorite brand among chinese consumers. The company benefiting from a rebound after strict covid 19 restrictions were lifted. But the coffee chain said that Wage Increases and investment in its cafes dragged down its overall profits. Starbucks ceo laxman narasimhan, who took over from predecessor
Out stop , plays out. Interestingly, the other servers went up also what are the other services . Overall Services Continue to be strong, a key part of apple growth story, and really that is something they are building out further and further. Youre going to also have, going into this next year, cloud, i think app store, if you look at that, that continues to uptick. That has been a big part of what i call the re rating of apple stock. Meanwhile, Retail Giant Amazon has reported a quarterly profit that smashed Market Expectations for q2. That came in at 6. 7 billion, eclipsing forecasts. In fact, this was amazons biggest earnings reveal since the last quarter of 2020. My colleague Michelle Fleury with more. Amazons results show its firing on all cylinders. It turned in a strong Online Retail performance and registered higher sales at its Cloud Computing business. Revenue for the Second Quarter rose ii . Investors liked what they heard. Shares in the seattle based company, already up 50