Todayis today is a big win for European Citizens and tax injustice. Trouble in the pipeline . The price of oil tumbles below 70 a barrell for the first time since 2021 as concerns grow about the state of the world economy. It relates to how two apple subsidiaries in ireland were treated for Tax Purposes between 1991 and 2014. Ireland has a low corporate Tax Rate of 12. 5 but its been accused of so called Sweetheart Deals with certain companies allowing them to pay a much lower rate. The Decision Cant be appealed apple said its disappointed with the decision and accused the European Commission of trying to retroactively change the rules. Here is what the Eu Competition Commissioner had to say. There commissioner had to say. Is a bigger picture, our investigation there is a bigger picture, our investigation has decisively contributed to a Mind Shift and change in attitude amongst member states, they have helped to trigger and accelerate regulatory and legislative reform. Take ireland, to
Hsbcs turnaround picks up speed. The bank surges in hong kong as speculation grows around a return to Dividend Payments. Good morning, everybody. It is wednesday morning, just over an hour away from the start of cash equity trading. Lets look at futures. European equity markets, u. S. Equity markets of by more than 1 . And, of course, we have touched the levels key levels. The dow at 30,000, and the s p touching an alltime high at the close as well. Real strength coming into today, in futures suggest we have some upside to play for. Futures all point higher. European futures also to the upside. Ftse futures up by about 0. 3 . Broadly speaking, it is the same as the last couple of days. We are talking about vaccine optimism. The news about janet yellen picked up the appetite. It is into just stocks. We can look at what has happened through the asia session. Some of the markets in asia have turned increasingly negative as we have gone through the session. Parts of asia now retreating. Th
Breakthrough could happen any minute. Good morning, everyone. This is bloomberg surveillance. I am Francine Lacqua here in london. The focus of courses on the markets, because we are expecting a lot of earnings, banks, roche coming out, and later, u. S. Stocks. Poundlso looking at the on the back of the selfimposed brexit deadline. If you look at some of the earnings, they reignited a bit of concerns about the number of cost cuts and job cuts. Time, you can see european stocks down 1. 7 . Now lets get to the bloomberg first word news. Here is leighann gerrans. Hi, leighann. Leighann good morning, francine. Disappointed by the slow brexit trade talks, and a call with eu leaders, he said he will decide after this wiis key summit if it is worth continuing to work for a deal. He previously indicated the u. K. Will walk away if no agreement by october. Germany is still optimistic a deal can be reached. Always the right way to discount questions that can be difficult, and sometimes at the la
The german lender taps Deutsche Banks retail head, manfred, for the top job, ending months of management turmoil. Shares and hsbc jumped the most in over a decade as its biggest shareholder, ping an, raises its stake to 8 . And buckle up, brexiteers. The e. U. And the u. K. Enter the final round of formal brexit talks this week as britains conservative Government Faces another Party Rebellion at home over emergency covid19 powers. Just under one hour away now from the start of cash trading throughout europe, and in the u. K. Take a look at futures. We see more than 1 gains across the European Equity indexes. European equity Index Futures contracts that are trading, gaining more than 1 with euro stoxx 50 futures up one point 1. 6 right now. Trading higher, up more than. 5 on the nasdaq contract right now. S p and down jones futures or jones futures trading. 7 . 8 . Anna you try and catch up with gains in the United States on friday. I want to mention what is going on. The real focus on
Business on robots in berlin welcome to the program the beijing motor show is finally taking place after an almost 6 month delay because of the coronavirus pandemic its the 1st major Auto Industry fast since the covered 19 outbreak and comes just months after reports a drop in car sales a record drop indeed the manufacturers passers by the economic fallout of lockdowns the event off as an opportunity to showcase their latest innovations as they strive to gain market share in the worlds biggest auto market one of the highlights is the array of socalled new Energy Vehicles thats electrics and hybrids which make up 25 percent of the exhibition this year. Lets speak to aunt ellen cost too much analyst with Investment Advisors bernstein how important was it for the Chinese Government to get this event off the ground this year. Well look i think its a hugely important to show the strength of the economy its back the consumerist back were handling the coronavirus relatively well in china and