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Prices are down more than 30 percent. Saudi arabia pushed back. Here is the secretary general. Last four years and a half, we have a price decline. Theave to wait and see how market will set. I have said many times you that we dont want to panic. I mean it. Federal regulators are now formally debating a nationwide recall of 40 a faulty airbags. They have told japans to Cott Corporation to recall by december 2. So far, they have recalled the devices in areas with high humidity which is blamed on making bags malfunction. Gains in Consumer Prices fell for a third month in a row. For the first time ever, yield on the twoyear note fell before below zero. British prime mr. David cameron is raising the prospect of britain leaving the European Union over immigration. Cameron wants leaders to restrict welfare payment to immigr ....
Breaking pmi data slightly ahead of expectations. Pmi rising. 51 point five. Just half a basis points higher than expected. If you look at the competence of each country, it is the same as manufacturing that was week and some parts. We have to put up. For in percentage terms. We are trading at highs on the back of a composite number we have had out. I think what will be fascinating is to see how the european economy reacts to significantly lower oil prices. Russia. Lets talk about russia and what is happening there. The backbone for the ruble. The russians situated and cruising entries rate to 70 overnight to defend the currency. That went well. The Russian Central Bank 17 overnight to defend our currency. They lost percent of their value yesterday and you have to go back to 1998 to see a similar day loss. And a rate hike and today, the ruble has given up all of the gains on the back of that and is down against the dollar. I ....
More than economists forecast it. Plunging oil prices is the big reason. The ecb working on a plan to buy Government Bonds. The central bank tried to prevent a deflationary spiral of falling prices and decline in consumer spending. Oil halting its slide, at least, for now. We saw brent crude this morning dropping below 50 a barrel for the First Time Since may 2009. It was headed for a fifth straight day of losses, but both brent and of uti or racing games the last 30 minutes wti erasing gains in the last 30 minutes. Crude oil stock piles he was probably increased last week. The white house and congress about that words on the keystone pipeline. Republican Senate Leader which mcconnell has promised to make a gallant keystone the first measure to pass the new congress. Heres how josh earnest responded. This piece of legi ....
Terms of what were communicating. The ruble recovers from its biggest daily loss in 16 years, but russias woes claim another victim. Shares in Italys Saipem plummet. China has its biggest daily rise in over a year with banks and grocery stocks leading the way. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Brent and wti are currently trading lower after bouncing back during the u. S. Session yesterday. They are up today, up 0. 66 and 0. 23 respectively. Wti crawled back around 5 of recent losses to move back above 65 a barrel. Some oil drillers have responded to operations by putting their operations on hold. Operators around the globe are looking at stacking their rigs, meaning making them temporary idle. The 3406 is aimed at lowering costs despite the offset in the market, but remaining ready for reemployment when it recovers. I ....
President obama finishing an address to the nation just moments ago announcing the normalization of relations with cuba and it has some far flung effects. John harwood is live in washington with some of the details on that for us. The president reversing a policy that was set in place 50 years ago during the time of john f. Kennedy. This is another indication that this president meant it when he said he was going to make big changes in office. This is something he can do with the stroke of his pen. Here is the president. Though the policy has been rooted in the best of intentions no other nation joins us in imposing these sanctions and it has had little effect beyond providing the cuban government with rationale on restrictions. Today cuba is still governed by the castros. Neither the american nor cuban people are well served by a ridged policy rooted in events that took place before most of us were born. Reporter now, the president cannot with this action lift the embargo. That is emb ....