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This is this Imus in the morning.
On the -- those.
Good morning everyone let's wrap things up with a look at the markets here in the US we've -- green arrows across the board all morning Dow futures are up by 31 the -- and he's up by four and the nasdaq's up by fifteen.
In Europe shares a standard chartered are plunging by as much as 20%.
After New York regulators accused the bank of hiding dealings with Iran.
The bank rejected that charge but still shares are plummeting meanwhile UK's industrial sector collapsed in June posting its sharpest drop.
In more than three and a half years stocks in Europe are currently mixed London's down by just under two points Paris is up.
By about 27 -- bank it's up by about 37 let's take a closer look now what's moving those markets with Peter Dixon global equities economist.
At Commerzbank over in -- -- standard chartered shares plunging this morning and allegations the bank was involved in money laundering for Iran.
What does -- do for the industry itself to have allegations like -- -- right on the heels of the Libor scandal and the allegations against HSBC.
Yeah I mean it's it's one thing after the -- down in that does appear to be a concerted efforts on the parts of politicians -- -- have -- real go at the banking set to -- trying clean out some of the things we say believed to be.
You know egregious errors.
-- I think ultimately is gonna end up with it but it's -- banking sector I think this is a concerted effort on the part of authorities around the world.
And over the course of the next in a few years.
It's gonna be the banks will become much more risk averse -- will not -- do the kinds of business that they were doing in the past.
Analysis of the net effect will be small to fund its.
And competed -- positives can go after them but didn't done a lot of these things happen because the government isn't regulating always supposed to.
A lot of more regulation I don't -- -- right.
Ops I'm Cynthia -- I think regulation has been asleep at the wheel foot -- the last decade.
So it it does seem all the world's votes you know the cutting -- the banks now when you know governments and what exactly known for having clean -- in in many instances themselves -- -- elements of the give.
Kettles and pots going to the black -- -- unfortunately we are where we -- we have to live within that regulatory environment.
Indeed and said in the last -- Peter we also spoke about the IMF pushing the Euro -- To lighten the burden of Greece's bailout loans and that -- saw this.
As a sign at the IMF is actually prepping Greece for a withdrawal rather than aiming for recovery here -- Greek.
Fund I think the Greece.
The catalog for the bit longer yet to meaning that you could all -- that says this is a case of -- -- being given a bit more leeway because but frankly.
And we know the burden -- which it says so -- -- intolerable.
And unsustainable in the longer term -- -- it just giving him a little bit more trying I think the inevitable is going to be.
It it inevitably we we will see a -- the whether we'll see -- exceeds all of Greece from the Euro zone I think that's.
Something for the -- with him to be quite honest.
That's what that's Peter Dixon from Commerzbank in London thanks Peter -- straight talking can't.
And investors are deep pockets are gathering in Saratoga Springs in new York and are -- Fidelity is they're taking a look.
At the high stakes in the sport and king -- now.
Good morning -- they call this the sport -- -- and for good.
Agrees at last you're alone ten point seven billion dollars.
Was waged in the thoroughbred racing industry one point six billion dollars -- -- prize money the wealthiest buyers from around the world have descended.
Saratoga Springs York this is the basic Tipton sale is one of the most exclusive sales.
In the world many it is horses will be bought -- shipped overseas to the Middle East to Europe to Japan to Australia to raise a lot of winners.
-- -- -- -- -- Here many celebrities many notable names millionaires billionaires were -- last night ending up to box this exclusively with inside of the auction house it Diane.
Was amazing I had to the left of me I had the ruler of Dubai Sheikh Mohamed.
He was betting through John Ferguson released -- and today on Fox Business also to my right you're saying as he was dropping a couple 100000 dollars on a horse as well he's gonna be on fox -- today.
Where are going to be at here all afternoon talking to the buyers the sellers and also there is -- way for our viewers to play this it is risky but if you want to bet.
On the horse racing if you -- investor horse racing there are syndicates out there to be talking to one of the top syndicates.
He is based in New York City he as well -- here in Saratoga Springs now.
I have to tell you the horses are absolutely amazing animals themselves are beautiful we're gonna have a lot -- horses out.
Throughout the afternoon and a warning of course on Fox Business Network and -- -- in.
Studio apparent that Sarah study -- -- -- brings thanks Sarah.
And quickly we're getting earnings in government and health care health care services companies reporting adjusted profit of ten cents a share -- estimate was for four cents.
Revenue -- 2.2 seven billion dollars matching the estimate dead done.
Quick look at commodities oil and gold -- both up Imus in the morning continues right now hunt Fox Business.
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