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 I have her statement janet yellen and she said she strongly disagrees and says it is based on outdated data. That is based on outdated data.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 Is based on outdated data. That is right it is based on outdated data.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 It seems is based on outdated data.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
told the ukrainian soldiers to cover under the trees. russians are flying over the positions trying to spot where they are. and novak djokovic reaches another wimbledon final beating britain s cameron norrie. welcome to our viewers on pbs in america and around the globe. twitter and elon musk are in an extraordinary standoff over his more than $40 billion deal to buy the social media company. the world s richest man wants to pull out of the deal, claiming he s not recieved the data he asked for about the number of fake or spam accounts on the platform. but twitter s board says it will sue mr musk to enforce the deal. shares of twitter fell 6% in extended trading over the news. here s our north america technology reporterjames clayton. elon musk is essentially saying that when he put that offer in he thought that there were more users that actually used twitter than there actually are. to be fair, there are a lot of spam accounts on twitter. they say they delete 1 million bots
the commercial real estate industry functions but it never reached its profitability, as you said there. its assets and liabilities of somewhere between $10 billion and $50 billion according to the bankruptcy report. we need to remember this was one of the most exciting projects on the horizon. it was worth $47 billion largely due to a chunk of investment from softbank but wall street were also excited, jp wall street were also excited, jp morgan chase was one of its first big investors. its co founder adam newman projected tremendous growth and took on expensive leases in big cities like new york and london and even here in singapore. but itjust never quite reached its profitability. and like so many industries, the covid 19 pandemic really impacted because a lot of clients now who had memberships with this company have pulled out because many of their workers are now working from home and they have done away with the real estate industry. as we have been reading this mornin
Now on bbc news, all the latest Business News live from singapore. The bell for 2017. Where should you put your money this year, and will economists or fortunetellers have the upper hand on predictions . And remember when the latest technology looked a little like this . We take a looked a little like this . We take a look back at 50 years of the worlds biggest Consumer Electronics show. Hello, and welcome to Asia Business report. 2016 was a mixed year for the global economy, and for the markets as well. The dowjones is at record highs, approaching 20,000, and the us dollar is very strong. The british pound on the other hand took a beating after the country voted in a referendum to leave the eu. Now, in this region it was the Chinese Markets that actually ended up Chinese Markets that actually ended up underperforming in 2016, while thailands Stock Exchange was the standout, closing at around 20 higher despite Economic Uncertainty there. Now, most markets are reopening for the new year
Backed a cross party amendment saying that ministers should guarantee eu nationals right to stay in the uk. He comes bearing gifts. The Saudi Arabian king riots in indonesia where he is expected to pump money into the countrys oil sector. And the owners of snapchat see their Company Valued at 24 billion in a share sale. Welcome to Asia Business report. It has been a highly anticipated state visit. Saudi Arabias King Salman is in indonesia as part of Multi Stop Tour around asia. The saudi king is expected to announce Investment Deals totalling more than 20 billion. Around 6 billion of that will be pumped into state owned refineries, and it is the second oil deal we over saudi arabia this week. Earlier the country invested 7 billion into a Refinery Project over in malaysia. Saudi arabia is the worlds biggest exporter, much of its crude going to customers in asia. I asked why saudi arabia is so particularly interested in this region. Saudi arabia has a lot of money to throw around. It wou