Fox Business
Expand
Browse All Video
Watch Live

You're watching...

FT: Greece Looking for Extension on Austerity Plan

Details

  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 4:53
  • Date

Clips

Also in this playlist...

Fox Business Brief

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Imus in the morning.

On the funds.

Good morning -- -- Let's start things off with a live look at the markets here in the US we've seen -- across the board Dow futures are now down by fourteen the S&P.

And NASDAQ -- both down about three in Europe the Financial Times is reporting Greece wants two more years to implement its latest austerity program.

And will formally ask European leaders for the extra time next week meanwhile standard chartered shares are higher after the bank agreed to pay New York's banking regulator.

340 million dollars to settle accusations that it helped Iran launder money into the US that story was first reported by Fox Business -- -- stocks in Europe.

Are down across the board London's down by about 26.

Paris is down about nine Frankfurt's down 27 let's take a closer look now what's moving those markets James Hughes senior market analyst.

And -- party over in London James according to minutes from its last -- in the bank of being an apparently thinks the UK economy may not be as weak as second quarter growth figures suggest.

And that a new plan to encourage bank lending could help boost thinks -- what do you make of that.

Well I think -- it tends to be a little bit of cussing at straws sort of measure I think of them -- I don't think necessarily.

Well not what is -- is good news is positive news that the bank of being in the coming out saying then of course it.

It takes a -- and of those then talks develop into about might be more easing movements -- rights and and things along those lines but I think -- -- and -- alleviate would -- is nothing that's one of the big issues that we see hated because a lot of via.

The F issues that come -- say these things off.

On necessary as bad as they had seen as for -- it doesn't mean that the problems completely gone -- embassies a couple of good numbers I unemployment numbers they've been.

Little bit better and and -- off signs that we started to move in the right direction that direction.

That the banking reforms audit them necessarily think he's gonna be a massive.

Points you can -- think there's still a long -- to -- we've had inflation numbers.

The GDP numbers were of course bad I don't think he's gonna is gonna take more than a couple officials to tell us that.

Things aren't as bad as the GDP figures look fresh -- to believe him for the markets actually today that.

And -- got to talk about this standard chartered sell -- the banks now paying 340 million dollars to settle these allegations.

About money laundering that it aggressively denied what does that do for the bank's reputation that you see this affecting the industry over on anyway.

Blowing banking reputations have been any she seems to death and I didn't really since since 2009 these banks have been joins it.

Rebuild themselves rebuild the reputations and get the people.

There is the public mind they get the public's trust back on -- with -- now they've had a a few issues along the wipe it.

It on -- -- that probably nice to do squat well but then of course you get paid down this year but such a number of big scandals.

You had to -- just BC money laundering cases where they were fine 250 million.

Dollars you have to -- -- scandal with boxes and ascended Johnson.

With the with -- -- issue as well so I mean.

A lot of that -- -- -- -- rebuilding that happened has been hit quite a -- of course we -- -- standard -- coming on aggressively being in denying it.

And then tying a lump sum so nice and quiet in the cools down.

If it's hard to have that trusted that reputation suits -- we build back is that it's not semi I think it will have it -- -- reaching -- -- -- In the short term definitely just at the confidence that in these banks just wanna be dad and of course.

As a -- we've been taking such a long time to build back their reputations and to be hit them as such things as this.

These banks just don't necessarily do themselves any five -- Now -- -- all right that's James Hughes from up -- London thanks gains.

-- getting earnings and now from Deere & Co.

the maker of farm machinery is reporting a profit of one dollar 98 cents a share missing.

The estimate for two dollars 31 cents revenue came in at nine point 59 billion dollars that was a beat.

The estimate was for nine point 52 billion we also got earnings in from Abercrombie & Fitch that retailer.

Is reporting a profit of nineteen cents beating the estimate for seventeen cents.

Revenue came in at 951.

Point four million dollars that was shy of the expected 992.

Million dollars.

-- is reporting a disappointing second quarter profit office products retailer says it made eighteen cents a share that missed the street's forecast by four cents.

It says sales fell 6% from a year ago to five point five billion dollars hurt.

By weak demand in North America Europe and Australia the company says it expects full year sales to be flat compared to the prior year.

And here's a look at commodities now oil and gold let the markets have been.

In the -- this morning we're seeing oil down by 24 cents now at 93 dollars a barrel gold is down by six bucks.

Imus in the morning continues right now on Fox Business.

Load More