Oct 05 2020 0
Here are the most important financial news of the world today.
The president’s condition
President Donald Trump's doctors added dexamethasone to his treatments, a drug commonly used for patients with more severe Covid-19. "The president's condition has continued to improve," White House doctor Sean Conley, Trump's chief physician, told reporters on Sunday, though it's not clear why they gave him a regular medicine used for patients in the event of worsening.
At the briefings, Conley admitted that he had previously made a false statement about the president's oxygen breathing, the latest in a series of contradictory and confusing accounts of his health. Conley said he told reporters that Mr. Trump was not given oxygen on Friday, when in fact he did, to "reflect the optimism" of Trump and his doctors. At Sunday's briefings, doctors confirmed the president was fine and could be discharged as soon as Monday.
US and Asian stocks are likely to rally on Monday as traders react to the possibility that President Donald Trump could be discharged as soon as Monday. The Yen drops. Futures markets climbed higher in Japan and Australia, which are expected to open in lower volumes due to the holiday season. S&P 500 index contracts rose after US Stocks fell Friday on a volatile day for global financial markets. Crude oil climbed higher after Friday's decline. The pound fluctuated after a weekend call between British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen on Brexit.
Brexit is set to be the decisive confrontation at this week's European Union summit. French President Emmanuel Macron's reluctance to make concessions over fishing rights is worrying officials that he could try to reach a broader trade pact as negotiators start two weeks of talks. stress on monday. The fishing industry may make up only a small percentage of the French and UK economies, but lately it has had great political importance: Britain wants to reclaim its waters, while the EU has risk of losing main fishing grounds. The EU's chief negotiator, Michel Barnier, will also discuss Brexit with German Chancellor Angela Merkel in Berlin on Monday, a sign that the bloc is weighing where it can and cannot give in. Meanwhile, the situation in Britain's home country is not at all more optimistic. UK Prime Minister said people are "angry" about how his government is handling the pandemic, but warns that coronavirus will create a "very difficult" winter that could last until Christmas and beyond. again.
A bad idea
Inside SoftBank, the idea of going private through buyout has been discussed several times over at least five years. Almost everyone is opposed to it, except for its founder Masayoshi Son. The reason is crucial: No one can stand out to buy a takeover anywhere close to SoftBank's $130 billion valuation, it's unclear whether the company can raise the necessary financing and a deal. Such complex pros will distract the company for at least a year. Senior managers are also concerned that without a public shareholder, one person said, it would be difficult to control Mr. Son's uniform impulses. But that doesn't mean a deal is out of scope. "Everything Mr. Son is doing shows they are planning to make the company private," said senior analyst Anthea Lai of Bloomberg Intelligence.
The RBA is expected to be cautious for another month in the face of comments for the government's anti-recession fiscal program during Tuesday's budget meeting. The Reserve Bank of Australia is forecast to keep the interest rate unchanged and the three-year yield target unchanged at 0.25% on Tuesday. While some economists predict an easing policy, say the board will hold the balance until November. The central bank is keeping borrowing costs low across the economy. Bank loan and bond purchase programs. RBA economist Guy Debelle last month launched potential additional options, including raising the cash reserve ratio to 0.10%, buying longer-term government bonds, currency cards and negative interest rates. However, policymakers have reduced the likelihood of the following two options.