Live from new york, at the opening bell, this is business today. Traders tread water on wednesday. Cranking up the voltage on trade tensions. Canada slaps hefty import taxes on electric cars made in china older, wiser, and ready to spend. How businesses are finding a Silver Lining in indias ageing population. Welcome to business today, im Michelle Fleury live from new york. Us markets slip at the open after the record close. More on that any moment. Lets turn our attention to markets, the dow is down two tenths of a percent right now, after the wreck a close yesterday. The snp and nasdaq have not fared so well. Traders are turning away from the Technology Stocks right now. For more on this is the chief market strategist, great to see it this morning. Are you surprised this rally is stalling . What should we read from the dow slipping back slightly . Read from the dow slipping back sliuhtl . ,. , slightly . Good morning, i dont think they slightly . Good morning, i dont think they can
hello, i m with your top business stories. should one of britain s most influential newspapers be owned by the abu dhabi royal family? that s a question the uk government has been grappling with since the 169 year old daily telegraph agreed to a major investment from a uae backed firm late last year. redbird imi is backed by shekih mansour bin zayed al nahyan who also owns manchester city football club. the deal has been put on hold until later this month while uk media regulators examine it. but the man leading the bid, the former boss of cnn jeff zucker, has dismissed concerns about editorial interference by the gulf government at the telegraph and its sister magazine the spectator. speaking exclusively to our business editor simonjack, he said the deal will provide much needed investment in uk journalism. we think it is a two terrific brands that have been under invested in for a long time and is a great opportunity to export these brands, to invest in these brands, br
mischievous asia s richest man hits back against us traders who raised doubts about his finances, wiping $10 billion off his companies share prices. and never too late to influence why brands are seeking out older people to push their products hello. we start here in the uk, where in a few hours time the government s finance chief chancellor of the exchequerjeremy hunt will announce plans to boost the economy and tackle the country s poor productivity. central to those plans, freeing the city of london s giant insurance firms from eu rules on how much cash they have to keep in reserve. they say it could release 100 billion pounds to invest in things like clean energy and infrastructure. mr hunt will also warn against an attitude of declinism amid accusations from business that post brexit uk is in danger of getting left behind in an increasingly competitive world economy. the future looks very uncertain because you have that ira, the 350 billion dollars been spent in
months of this year. these are the first set of quarterly gdp figures since the end of the country s strict covid poilcy in december. this boosted retail sales, which were up over 10% on this time last year. also a huge expansion in travel, with some 45 million air passengers taking trips last month. all of this has helped spark positivity from investors, with groups like citi upgrading their china growth forecast to 6.1% that s well over china s own targets. joining me now is rory green, chief china economist at consultants ts lombard. these numbers look strong. is it a short term bounce or was it more sustainable. it short-term bounce or was it more sustainable- sustainable. it is generally fairly sustainable sustainable. it is generally fairly sustainable for sustainable. it is generally fairly sustainable for the sustainable. it is generally fairly sustainable for the remainder i sustainable. it is generally fairly sustainable for the remainder of 2024. what sust