19 Burst results for "Brown Brothers Harriman"
"brown brothers harriman" Discussed on WBZ NewsRadio 1030
"Brennan. WB's ease traffic on the threes. Brimfield fares back, though that's nice. I'm sure there's going to be a lot of traffic around that. But there we have it. So no complaints in the Weather Department for today, Except for that it's today. Would've been nice over the Labor Day weekend. But there you go. It's so nice for the rest of the afternoon, and that's going to continue. Even if you're getting home late from work. It will be a story story night. Right now. We're looking at mid seventies and the high today 80 degrees tonight below 65 so the showers and thunderstorms arrived Wednesday and Thursday. We'll have a lot more on that coming up. This story is one of those just I can't believe it. You know, Even we work in news for years and years, and you still say Ha! All right, a man accused of leaving his dog to the mercy of the next high tide on the North Shore. Please not guilty to animal cruelty charges. Elias Pacheco, Osario says he's sorry he changed his dog. Who was steel rod at Revere Beach Over the weekend. It was in Chelsea District Court. They released him on $340 cash bail. Now his dog is a £50 pit bull mix that he named killer. And he was found on the beach with a heavy rock attached to his chain to prevent him from escaping from the incoming tie. But he was rescued and he's being cared for at Ocean View Kennels and he's getting a second chance. With a new name as well, lovingly named Carmelo. Chico Osario, due back in court, November 3rd and this story President Biden is visiting parts of the Northeast hard hit by the remnants of Hurricane either is in New Jersey this hour after stopping in New York. Earlier, the storm killed dozens of people in both states. Many drowned in their cars even in their homes, while others were swept away by rushing floodwaters. Speaking alongside New Jersey's governor, Mr Biden called. The loss is profound. My thoughts are with all those families affected by the storms and all those families who lost Someone they love. More help is on the way to hard hit Louisiana from Massachusetts 10. Local firefighters are on their way to support their counterparts. There, the first responders dealing with the fallout and the devastation from Ida. They're equipped with her own P p E, including self contained breathing apparatus. Now there have been a series of deaths post hurricane to people. Dying of carbon monoxide poisoning or suffering burns because they've been trying to operate generators. So many people still without power that could go on for weeks, if not months, because again the infrastructure was damaged. So many power lines thousands down in that storm. Wanna wait? Joining us over a Bloomberg is Tom Busby on this beautiful Tuesday? Hello there, Tom. Hi, Laurie. Well, I have good news. The newest iPhone is almost here Apple today. Sending out invitations to a product launch next Tuesday, is expected to unveil the iPhone 13 lineup of smartphones, along with the new Apple Smartwatch, Boston based state Steep Street Bank is buying a part of Brown Brothers Harriman's investment services. It's paying 3.5 billion in cash on Wall Street. The holiday shortened work after his off to a pretty lousy start. Actually, right now, the Dow is down 192 points. There is good news with the NASDAQ. It's up 29. It was closed at a record on Friday. That's thanks to some text shares the S and P though down. Eight I'm Tom Busby Bloomberg business on WBZ, Boston's NewsRadio. And coming up next. A grim milestone when it comes to Cova cases in this country. That's next at 1 15. Alexa Play WBZ NewsRadio..
"brown brothers harriman" Discussed on Newsradio 970 WFLA
"It's a a shame that that people of good standing and working inside the United States government, we're following all the rules and try to abide by The concepts of democracy and constitutional government are compelled to go outside of normal channels like this because there is this to ball inside the United States government actually, almost above the rest of the United States government. They are trying to monopolize this type of extraordinarily important information so they can keep this. They can monopolize this technology that has been back engineered some of it from the recovery of these craft, and they want to keep this out of circulation. And these are the same kind of people in these major. Military contractor corporations. There also are linked together with a major oil corporations. The major big pharma pharmaceutical and chemical corporations. What we're looking at is something analogous back to the robber baron era when I'm from 18, you know the end of the American Civil War 18 68 18 98. Are these? These powerful men who gained control over these major corporations, and what they want to do is they want to secret and cheap. The the the technology out of circulation, just like, Remember, You heard about that. For example, BF Goodrich in the car industry shut down. The efforts in the city of Los Angeles have any kind of public transportation system. Because they didn't because they were trying to maximize the private profits for their own stockholders of car sales. That's right. That's what's going on here. There are these very high level that Truman as we know that after the recovery of the craft at Roswell in July of 1947 The President Truman put together a major group of some people in high level positions inside the military and government, but others in the private military contractors Put them together. Into a secret organization, just like he had done when they recovered the goals. A 12 prompt France's of gold from the Philippines was this majestic 12 Daniel. This is well whether it was actually named majestic 12 or its code named Zodiac, or it's got different names that people attribute to it. It is clear that many of the documents that referred to majestic 12 are very credible now whether some of them have been faked once some of the documents got loose. And there was a very sophisticated program going on in the CIA and in the DEA to try to mix, you know, I think with some of these documents, fake documents so that they could point to these fake documents and they see they're all fake. Because what we're what we're dealing with is the turning of the Central Intelligence Agency and the Defense Intelligence Agency against the citizens of our own country. All of the spy craft and all the duplicity and deception deception that they were promulgated as having been developed to try to deal with the Soviet Union under the auspices they were trying to take over the world. I mean, this is at the end of World War two Russia had lost 20 million people. Yeah, I mean they their country was so devastated by the invasion of Germany. That, in addition to losing 20 million of their citizens, they were so destroyed. They were tearing up the railways that went from Russia into Europe so they'd have level to use And here in here, the United States was recruiting people from the Nazi government. You know, the scientists in operation paperclip and Operation overcast and others. To bring them into the center of the intelligence community, the United States and started, you know, doing the same kind of things that Germany was doing. The Germans worry or a critical national socialist state. They What they were doing is they were establishing control over their country on behalf of the private corporations. That's what this was like The erupts, the crops and the ball burying companies and I G. Farben all of those major corporations. It turns out, they were owned secretly by members of the investment group in Brown Brothers Harriman, a big Wall Street private investment firm. That the CEO of which was George Herbert Walker. That's right. Was the grandfather of George Herbert Walker Bush? Yep. The legal counsel for the Brown Brothers Harriman was Allen Dulles. You know who hated Kennedy? He hated Kennedy. Well, that's right. More than hated Kennedy. Yeah, but that's another story..
"brown brothers harriman" Discussed on TIME's Top Stories
"Carabello is an author investor and commentator. His forthcoming book is inside money brown brothers. Harriman and the american way of power. There's an emerging consensus in america today that the accumulation of vast wealth by a handful of individuals is untenable for our democracy. Balancing the other worldly success of a few in contrast with the challenges. Many still face is one of the thornier dilemmas of a post covid. Nineteen world where those gaps have grown ever wider the recent analysis of the tax rates of the mega rich which show that the twenty five richest americans including jeff bezos and warren buffett paid a paltry thirteen billion dollars in federal taxes on income and gains of four hundred billion dollars over a four year period from two thousand fourteen. To twenty. eighteen is just the latest powerful example. There is however an earlier moment in the american past that points to a better balance that those with great power bear great responsibility that private gains should not be detached from public good that the flows of money can create but also disrupt and that you can't endlessly bagger the commons there's no going back of course and given how have an earlier time. We're exclusive club we would want to but that past does offer some hints of what might work today the apex of that formula where elites of wealth and privilege answered call to service as they were admittedly self-serving was during and after world war two and the exemplar was the private investment firm brown brothers. Harriman at the end of world war. Two much of europe was devastated. Japan had been devastated. Not just by two atomic bombs by successive rounds of conventional bombings swats of destruction extended throughout southeast asia china and into southern europe and the united states. It had suffered grievous casualties but it's infrastructure and industrial capacity were untouched and it's relative power had never and has never been greater and at that crucial juncture american companies the us government and a slew of highly privileged individuals came together to craft a post war. Global order provide massive economic aid to europe and japan to rebuild and set the parameters for trade and commerce that remained the operating code for the.
"brown brothers harriman" Discussed on Bloomberg Radio New York
"Broadcasting live from the Bloomberg Interactive broker studio in New York. Bloomberg Winfrey. Oh Toe Washington, D. C. Bloomberg 99 1 to Boston Bloomberg 1061 to San Francisco Bloomberg, knowing 16 to the country, Serious exam 1 19 and around the goal. The Bloomberg business and Bloomberg radio dot com Thiss is Bloomberg markets. Coming up this half hour. We are going to talk Vaccine Marathon with Max niece and where we stand now will also speak emerging markets on the US dollar versus China with Winton off Brown Brothers Harriman first, Let's get a Bloomberg Business bash. Jared Techstocks body. They're continuing their trend down and more sharp declines for tech stocks are dragging Wall Street toward a third straight loss was Techstocks, Handan Darling Wall Street, even through the pandemic on expectations that can continue to deliver strong profit growth, almost regardless of the economy, and global health, tech stocks in the S and you're still a 25% 2020 so far silly, ma'am a ways to go. We checked the markets every 15 minutes throughout the trading day here on Bloomberg Radio. Currently the S and P is down. 2.1% down 73 Dads down 1.8% down 506 and the NASDAQ's Down 2.8% down 323 10 years of 13 30 seconds to the 300.67%, West Texas intermediate crude oil. Is down. 8.5% Now at 36 39 a barrel comics goals, little changed in 1933 80 announce Valerie and 5 90 60 euros dollars 17 90 for the British found that all of 30 35. Boeing has slowed deliveries of 7 87.
"brown brothers harriman" Discussed on 90.3 KAZU
"And U. S Bank court reported as well also quite tidy profits. But they're the apparent similarities end because PNC and US Bancorp You a whole lot more consumer business than Goldman does. And they both reported setting aside more money a lot more money actually to handle loans that might go bad. We've been telling you about the past couple of days that that's the story on Wall Street right now. Now, why are banks so worried about whether consumers are going to pay them back? Well, because we're in the middle of a pandemic in a recession. Right? So maybe a better setup is exactly how big should their worry be. Marketplaces Nancy Marshall Ganz reports Big At the end of the first quarter of this year, US consumers were record $14.3 trillion in debt. There's a lot of debt out there reading McGrath is a professor at Columbia Business School. She points out that $14 trillion in consumer debt that was before the pandemic hit. This is a kind of a time bomb that's been coming for a long time. Now massive layoffs have left some consumers wondering how they're going to pay the bills. You know. Neil lost his job as a technician on the New York set of the CBS Siri's FBI back in March. There were two days away from wrapping up Episode 19 and they decided that not only we're not going to finish up so 19. We weren't going to finish the remaining four episodes for the season. On. That was it. O'Neill is the breadwinner for his wife and two kids. They have a balance of about $20,000 on their discover card, plus a car lease payments, Student loan and the mortgage, O'Neill says. So far, he's been able to freeze all those payments they're getting by on his unemployment check that includes an extra $600 a week, which runs out at the end of this month. So when those programs which will run out, that's when I really panicked about one of my supposed to dear O'Neill says his first priorities will be the mortgage utilities and food. The credit card debt that comes last banks know that G. Scott Clemens, chief investment strategist at Brown Brothers, Harriman, says three of the biggest consumer banks have set aside billions in the second quarter to cover loans they might have to write off. Of $30 billion of loan loss reserves for a single quarter. Tells you that they're anticipating a lot worse to come, Clement says. Crunch time could come as soon as this September, especially if unemployed people don't find new jobs or get any more help from the federal government. I'm Nancy Marshall denser for marketplace. It's none of my business. I know. But how many streaming services are you willing to pay for? I'm asking Because NBC's new platform Peacock, it is cleverly called Launched today into a desperately crowded field but as marketplaces, Jasmine Guard reports This one might be a bit of a game changer..
"brown brothers harriman" Discussed on WNYC 93.9 FM
"Quite nicely. Thanks. PNC Financial Services and U. S Bank Court reported as well also quite tidy profits. But they're the apparent similarities end because PNC and US Bancorp You a whole lot more consumer business than Goldman does. And they both reported setting aside more money a lot more money actually to handle loans that might go bad. We've been telling you about the past couple of days that that's the story on Wall Street right now. Now, why are banks so worried about whether consumers are going to pay them back? Well, because we're in the middle of a pandemic in a recession. Right? So maybe a better setup is exactly how big should their worry be. Marketplaces Nancy Marshall Ganz reports Big At the end of the first quarter of this year, US consumers were record $14.3 trillion in debt. There's a lot of debt out there reading McGrath is a professor at Columbia Business School. She points out that $14 trillion in consumer debt that was before the pandemic hit. This is a kind of a time bomb that's been coming for a long time. Now massive layoffs have left some consumers wondering how they're going to pay the bills. You know. Neo lost his job as a technician on the New York set of the CBS Siri's FBI back in March. They were two days away from wrapping up Episode 19 and they decided that not only we're not going to finish Episode 19 we weren't going to finish the remaining four episodes for the season. On and that was it. O'Neill is the breadwinner for his wife and two kids. They have a balance of about $20,000 on their discover card, plus a car lease payments, Student loan and the mortgage, O'Neill says. So far, he's been able to freeze all those payments they're getting by on his unemployment check that includes an extra $600 a week, which runs out at the end of this month. So when those programs which will run out, that's when I really panicked about what am I supposed to do? O'Neill says His first priorities will be the mortgage utilities and food. The credit card debt that comes last banks know that G. Scott Clemens, chief investment strategist at Brown Brothers, Harriman, says three of the biggest consumer banks have set aside billions in the second quarter to cover loans they might have to write off. But $30 billion of loan loss reserves for a single quarter tells you that they're anticipating a lot worse to come, Clements says. Crunch time could come as soon as this September, especially if unemployed people don't find new jobs or get any more help from the federal government. I'm Nancy Marshall denser for marketplace. It's none of my business. I know. But how many streaming services are you willing to pay for? I'm asking Because NBC's new platform peacock, it is cleverly gold. Launched today into a desperately crowded field but as marketplaces, Jasmine Guard reports This one might be a bit of a game changer..
"brown brothers harriman" Discussed on KCRW
"Woman. Sachs did quite nicely. Thanks. PNC Financial Services and US Bancorp reported as well also quite tidy profits. But they're the apparent similarities end because PNC and US Bancorp You a whole lot more consumer business than Goldman does. And they both reported setting aside more money a lot more money actually to handle loans that might go bad. We've been telling you about the past couple of days that that's the story on Wall Street right now. Now, why are banks so worried about whether consumers are going to pay them back? Well, because we're in the middle of a pandemic in a recession. Right? So maybe a better setup is exactly how big should their worry be. Marketplaces dancing martial guns, reports big At the end of the first quarter of this year, US consumers were record $14.3 trillion in debt. There's a lot of debt out there reading McGrath is a professor at Columbia Business School. She points out that $14 trillion in consumer debt that was before the pandemic hit. This is a kind of a time bomb that's been coming for a long time. Now massive layoffs have left some consumers wondering how they're going to pay the bills. You know. Neil lost his job as a technician on the New York set of the CBS Siri's FBI back in March. They were two days away from wrapping up Episode 19 and they decided that not only we're not going to finish up so 19. We weren't going to finish the remaining four episodes for the season on that, was it. O'Neill is the breadwinner for his wife and two kids. They have a balance of about $20,000 on their discover card, plus a car lease payments, Student loan and the mortgage, O'Neill says. So far, he's been able to freeze all those payments they're getting by on his unemployment check that includes an extra $600 a week, which runs out at the end of this month. So when those programs which will run out, that's when I really panicked about what am I supposed to dear? O'Neill says his first priorities will be the mortgage utilities and food. The credit card debt that comes last banks know that G. Scott Clemens, chief investment strategist at Brown Brothers, Harriman, says three of the biggest consumer banks have set aside billions in the second quarter to cover loans they might have to write off. But $30 billion of loan loss reserves for a single quarter tells you that they're anticipating a lot worse to come, Clements says. Crunch time could come as soon as this September, especially if unemployed people don't find new jobs or get any more help from the federal government. I'm Nancy Marshall denser for marketplace. It's none of my business. I know. But how many streaming services are you willing to pay for? I'm asking Because NBC's new platform Peacock, it is cleverly called Launched today into a desperately crowded field but as marketplaces, Jasmine Guard reports This one might be a bit of a game changer..
"brown brothers harriman" Discussed on Secret Societies
"Abstract example while individual words have meaning whether us together in a sentence they have greater meaning and power even even more as a paragraph as a book as a library when applied to politics. God becomes the state like God. It's power our should be absolute and it requires complete obedience. Dr Sutton summarized the State is supreme and conflict is used to bring about the ideal society individuals find freedom in obedience to the rulers it the skull and bones society is truly a Galleon Organization nation the implications of its vast reach into the halls of power suddenly becomes a lot more threatening each bones. Men believes in strict obedience to the leaders. It's up there. Crew and the goals of the Organization and believes that obedience to the state should be the goal of society. So who's the leader. Who who decides the goals after studying the roster lists of over one hundred seventy classes of bone spin doctor sudden believes that there are fifteen to twenty core core families running the group which he calls the order? There's some of the oldest wealthiest dynasties America's history many of them can trace their lineage back to the colonies families like the Lord's the Phelps. The bundy's the Whitney's the Wadsworth and the tasks along the way they've picked up some new money families the Rockefeller's the Harriman's the Pillsbury's the pains the Sloan's and the Davidsons together they dominate the government industry finance education media. And more under Dr Sutton's theory the same mm small group of wealthy elites has maneuvered throughout history to influence and control the state if true then two thousand four was truly elite peak Hegelian Ism for the skull and bones whether it was George W Bush or John Kerry who was elected president of the United States the order her one if the skull and bones society did bottle their philosophy on German Galen Ism they wouldn't wouldn't be the first well known group to do so it also greatly influenced Adolf Hitler and the Nazi Party and there are a number of links between prominent bones men and Nazi Germany The Guardian reported findings from the US National Archives confirming that as early as nineteen twenty four bones men funneled money to German businesses. That funded Hitler's Ause thus aiding his rise to power not only did bones bent support Nazi supporters financially. But many believe they also supported Hitler's views on eugenics and the master race based on these notions one could argue that while the skull-and-bone society poses as a simple college fraternity. It might actually have roots as a white supremacist group. Grappling for global global domination coming up the connections between the bones. Men and the Nazi party's race laws. AUSE now back to the story. Dr Antony Sutton argued that when the skull bone society was founded in eighteen. Thirty two two. It adopted the German philosophy of Galen Ism as its guiding principle with this in mind. The group is angled to dominate politics and industry to bring about the head Ganley an ideal of an absolute state in America another notable group that subscribed to Galions was the Nazi party. Halloween unionism believes that conflict is necessary to bring change. The struggle between the thesis and antithesis will synthesize into a better result. One one of the simplest ways to create opposition is to single out in other and created US versus them mindset for bones men it's in group versus group for the Nazis. It was the superior Aryan race verses the inferior lesser races. In the second case the result of the synthesis emphasis would be a unified Europe led by the absolute German state. The galleon ideal extensively feeling connected by their like-minded 'cause several bones. Men pledged monetary support to some of Adolf Hitler's financial backers in the early twentieth century. One of the more notable double names on the skull and bones roster is w Averell. Harriman he was truly a Jack of all trades. A business tycoon. A venture capitalist capitalist a diplomat and politician he served under four presidents earning the distributor of super diplomat he was also on the board of directors of at least three companies while investing in several more. Perhaps his most well known business was the one that bore his name Brown brothers. There's Harun today. It's one of the oldest and largest wealth management companies in the US and since inception the firm has employed legions of bones jonsman Prescott Bush night. woolley Robert a Lovett and more by nineteen seventy two nine of the twenty-seven managing partners. There's at Brown brothers. Harriman were bones men but this wasn't the only financial institution managed by my skull and bones. Harriman also established an offshoot bank around nineteen twenty four called the Union Banking Corporation. He formed it in partnership with bank. For handle and scape part owned by the Thiessen family. Fritz Thiessen was a German businessman. And industrialist he was also one of Adolf Hitler's lers largest financial supporters. His autobiography is titled. I paid Hitler through the Banking King. Partnership interested Americans could deposit money into a union banking corporation account transfer at first to the bank for handle then to the August Thiessen Thiessen Bank in Berlin where it was funneled to the Nazi party journalists Ben Aris and Duncan Campbell wrote by the late Nineteen Thirties. Brown own brothers. Harriman and UB see had bought and shipped millions of dollars of gold fuel steel coal and US treasury bonds to Germany. Both feeding and financing Hitler's build up to war. We know this occurred because eventually the. US government clock wind up these exchanges in nineteen forty two. They seized you. BC underinvesting order accusing the Bank of trading with the enemy and these suspicions shins were confirmed when investigators examined the UB sees records. They found an account in Fritz seasons. Name holding three million dollars. ARS roughly sixteen point two million dollars today but Harriman and his bones Ben. Investors weren't just financially supporting the Nazis. They were also profiting off their war. Crimes Brown brothers. Harriman was a major investor. In a steel manufacturing company in Poland called the consolidated Salesian Steel Company or C S S see when Germany invaded Poland. They seized most of the factories and methods of Industry Strea- However the American investors in CS AC- and other Polish factories continued to receive dividends. Hitler was hoping to persuade swayed the US to remain neutral in World War Two by allowing them to benefit from the Third Reich Advancement Brown brothers. Harriman appeared more than happy to do. So Oh but the. CSC plant like many factories in Poland at the time was stopped with slave labor sourced from various incarceration camps including Auschwitz more unsettling. There's evidence to suggest that American investors were aware of the Labor source because they fought to protect it in January of nineteen forty four. FDR issued an executive order to take all measures to rescue European Jews. As part of this he wanted to destroy various concentration camps and they're connecting railway lines through airstrikes but the order was ignored after a group group of American business executives led by bones men Prescott Bush who pressured the government not to bomb the camps. It's been suggested that they wanted to protect their labor source to preserve their revenue stream. However there's also another possibility beyond ruthless business acumen? Some believe another another reason might be that the bones men wanted the camps to remain open because they supported the genocide being carried out there because in addition to sharing Hitler's political political views on Galleon ISM several members of the skull and Bone Society shared the Nazis views on racial purity. Dr Sutton suggests jess that the secret society is actually a eugenics tool to preserve the integrity of elite bloodlines. One of the most pervasive rumors about skull bones. Initiation ritual is that new members are forced to masturbate in a coffin to be reborn as a bones. Men they're we're also compelled to reveal their entire sexual histories to their brothers. The jury is out on the first part. There's no hard evidence that ejaculation is a part of the skull cullen bones history but there's overwhelming confirmation that new bones. Men are forced to reveal their sexual past. It's a process called connubial connubial bliss in the weekly meetings following initiation one by one. Each new member takes his turn confessing his complete sexual actual history in Alexandra Robbins book the secrets of the Tomb. The bones men. She talked to insisted that. It wasn't as rebelled as one might assume while the first twenty minutes might feel like locker room. Talk revealing details of past conquests eventually it evolves into a larger conversation about relationships and becomes a bonding experience one alumni explained there was nothing perverse or surreal or prurient just to kind kind of open exchange. It's like TV's Ricky Lake. Now there's a national mania for pershing thoughts at large. This is a way of doing it in a very private it. Non Sensationalist way that benefits the people who are listening and the people who are telling but it's hard to imagine the original members hours of the skull and Bones Society Waxing poetic about lost loves or examining their behavior and relationships to determine why.
"brown brothers harriman" Discussed on WAFS Biz 1190
"Some pretty good gains here for the day and a few more stores before we get to our featured stock of the day. What stock that we've been keeping our I on P, R, V B? That's the biotech that thinks they might have something going on with a vaccine for cancer. It was. Was it cancer diabetes? Yeah. You're right. It was diabetes type type one diabetes. Okay. Now, what are these companies do when they get a big jump in their stock? Almost always all marchers. Sure. Sure, prevention, bile files for five point five million share stock offering now before they had the news. There's no way they could have done been tough getting the secondary offering for five point five million shares. That's quite a few shares that's almost at twelve dollars thirteen dollars per share. I mean, they're looking to raise sixty to seventy million dollars here price in terms of not yet been announced the stock is down on that news by five almost six percent, but this was a stock that was up three hundred thirteen percent yesterday, and I added it to the app now we don't have a ranking on it yet. This is the stock that just went public last year. Traits vary Finley, but it's now in the best stocks now apps so that we can track it. Maybe it will become an a plus momentum stock. We'll keep her I on it, but they are using this opportunity with a big jump in their stock to reach out to investors, their hand out will work for will work for vaccines for eighty-five million dollars is what they're looking to raise and another story, here's going to be another pot ETF global X management plans to start an exchange traded fund that will invest in marijuana Gordon to a perspective that filed last week, the global ex-mayor factor, creating an index the global marijuana ETF, invest, at least eighty percent of its total assets in the securities of the under lawing index. A company must arrive at least fifty percent of its revenue operating income or assets from the marijuana value chain Brown brothers Harriman, is the custodian talking big names, here now, global X management. There are pretty big time ETF operator. And of course, Brown brothers Harriman. They've been around for a while. And there is one there's MJ ETF that is out there and I track it, I added it as a sector to the best stocks now out. MJ has really not done very well. It gets a little bump every once in a while. But for the most part, this is a sector that still looking for profitability. Now here's the mall operators. I saw an interesting article while you've got Chico's. Game. Stop and dress barn and gap stores hurting a store by the name.
"brown brothers harriman" Discussed on Bloomberg Radio New York
"Along. Tom keene. Keenan Paul Sweeney and the s&p five hundred is higher at the open up almost two tenths percent or four points at twenty seven eighty seven Dow Jones industrial average up less than a tenth of a percent up seventeen points at twenty five thousand one hundred fifty two and the NASDAQ is up three tenths percent or twenty one point seventy five sixty eight ten year treasury upland thirty-second, yield, two point two five percent yield on the two year two point one zero percent. Nymex crude oil up at third of a percent or nineteen cents to fifty nine zero one a barrel. Comex gold down twenty. Eighty cents. It's little changed at twelve eighty six ten an ounce. The euro, one point one, one to seven against the dollar and the yen said, one nine point seven one, Tom and Paul. Thanks so much, Tom. Keene. And now more than timely discussion Winston is at Brown brothers Harriman holding court on foreign exchange and really good perspective on emerging markets as well. But I thin before that we need to note that you took your parchment from Richard Clerides's, Columbia University. Dr Clarita will speak today to the economic club of New York, Dr thin. Please tell us who is Richard Clarita. Hi, tom. Always a pleasure. I appreciate you having me on. As you mentioned. I talked to Columbia finished, my coursework already by time. Mr. joined, so I didn't have any classes with a good set of mine. Very, very smart. And, you know, if you asked me to he's been a big driver of this whole shift in the fed the whole policy study that we're undergoing right now. Look, Mr Powell, he's, he's a market guy. He's a really a market sky, sort of meeting catos markets, which I don't mean to be negative any manner, but he weren't guy, whereas, Mr. Clarita. Sort of the academic, intellectual. He's driving this. Existential rethink. Does the framework of Clarita Gertler the dynamic fungible? Space that we're in of dynamics to cast, a general equilibrium theory. Does that math work right now? Dr thinner we in a different place and space? It's not steady that central banks around the world struggling with the same essential question. We all went to great financial crisis amazing. We're almost a dozen years after this, and we're still feeling the aftershocks hangover from this. Look for this would be a great time. Bigly grad student so much study we etcetera etcetera. There's so much. I have no doubt that the universities around the world continue, turn out condoms. But right now it's to be determined. We don't know. I think if you look at their comments, this sort of. Going status quo. Yes. Phillips curve, and we look at sort of the standard mce miles, but it is clear that something's different the transmission between wages and federal. What used to be transitory or is it structural, the big question? I don't have an answer right now. I think that's that's to be determined. So doctor, let's turn our attention to the trade tensions here. One of the issues is the yen historically. I think love investors view that as a safe haven should things. Get even more rocky between the US and China share that you. Yes. So don't always work. But yesterday we had huge risk off day and Swiss Frankin and the end with sort of the big along with dollar. I remain dollar poll for, for several reasons, but I think when all said and done the doll should also gain against the yen on the dust settles. You know, we'll be of the risk version sort of. Sort of. But in general, I feel pretty confident dollar remains in an uptrend big debate right now. I think I'm in the minority of the dollar bears calling end but to me the conditions remain ripe dollar gains. So what would cause your dollar bull case to perhaps lose a leg or two? The table out from under it. The US recession the next US recession that the game changing, and it's not a matter of if. It's a matter of when. Right now, the dollar enjoys quite a you'll advantage over the rest of the world and it clear. I think that if if when we go into recession can react, pretty pretty grisly cut rates. Do normal sort of monetary policy response. So in that sense. The field advantage point that the US would just blow out to impress levels, and that's a recipe for dollar weakness. I'm not sure when that's going to be I think, twelve or twenty twenty story for now. I would say this, that my confidence in the US recession has been shaken by two version of the US yield curve, and the ongoing trade tension. I think two obviously inextricably. But warning the yellow light to flash. On the US economy, I remain upbeat, but have to admit that the recession is rising Winston think is so much thin with Brown brothers Harriman this morning to walk through the data before we launch over to one of the stories of the day with Paul Sweeney curve steeper risk on kind of feel only sixty two points, the Vic sixteen point nine four does better by a full figure. That's a good move point nine six Vicks points yields are fragile. And what do I mean by that higher? Yield earlier after two ugly days, three, ugly days, rather. And then we've given that up. Now we have flat truly flat tenure yield, two point two six percent and the two year in fractionally lower as well. Also noting the thirty year bond comes in full basis point two two six eight two point six eight percent. Dollar strength post radio. Look at Uber in it was forty five and then there was a shocking. Aww thirty six. And then there's what we call Mathis nodal dampening function, which is lower highs and higher. Lows sort of a pennant kind of thing that we're going to what do what do pros listen for in first conference. Call in earnings release is it about the math or is it just tone of the class officers? I think it's really, it's really the tone is the message still the same message that I bought into at the IPO in this case, just a couple of months ago. Anything materially changed its should not change. Certainly specifically the challenge for the stock, and for lift, by the way, is this business model? It's not a business model that a lot of tech investors are used to wear operating leverages income statement, Iki and really get a sense of where and how during what time train you can reach profitability for Uber. And for lift of that business model. Not there that visibility to profitability is just not there and investors wondering is that a year way is a two years away is at five years now for Amazon. They waited arguably a decade. But that was the credibility of the basis was able to create in the question on this call manager team give the market a sense of. Hey, we know we're doing we're going to get profitable. Now folks point of Bloomberg surveillance, where we go all McKinsey on you. Come on. The strategy is cars aren't enough for driving is not enough for us. We need to do this, this, and this, and this are any of those other this, this, and this and this had identifiable future depends, it's kind of like the Google moon shots. We're going to have some hits, we're going to have some MRs, but our core business. The core rideshare visit that's going to drive our company a cash cow. That's right now, you're getting to it now, you're getting to it. So that's the real challenge, because Google has a fairly fixed operating expenses. So their profitability scales quickly. This business model the ridesharing business model does not have that. So therefore, investors. I again, I just don't know how corbin's gets profitable an update on over there and look for the coverage on Bloomberg radio. We'll do that the septa noon Uber Dow green in the screen up, sixty nine sixteen point nine two yields fractionally lower. This is Bloomberg. Good morning. Let's get some national headlines right now with Michael Barr. Michael, thank you very much. President Trump called at the greatest presidential respite in history before leaving for Colorado. The president told reporters he felt special counsel, Robert Muller was never qualified to lead the Russia probe. The director. We had a business. I wasn't happy with what I did. Meanwhile, former secretary of state Hillary Clinton didn't hold back with it came the Trump, the former presidential candidate gave the commencement speech at college in New York City, may not be tanks in our streets. But make no mistake, we are witnessing an assault on the rule of law, and the foundations of our democracy. Turkey is said to be considering, deploying, a Russian missile defense system, along the country's southern coast. It's warships are coveting vessels exploring for energy. It would dramatically enhance Turkey's military capabilities in the eastern Mediterranean, where it's embroiled in a spat with Cyprus.
"brown brothers harriman" Discussed on Bloomberg Radio New York
"China cannot be good for emerging markets to get a sense of how to view emerging markets and current scenario returned to Dr Winston Dr thin as global head of currency strategy at Brown brothers Harriman and company joins us on the phone from New York, Dr thin, thanks so much for joining us. So how do you approach emerging markets given the deteriorating trade scenario that seems to be developing over the last week or so I I think so it's always a pleasure to come on. Honestly, I've been what EM all this year, and that's really many due to the slower global growth simmering trade tensions story. So to me this latest up in the trade was in sort of crystallizes, those ricin, and you know, doubles down on because face it tariffs. A trade war between the two biggest. The world. Economy's was one of those stocks that could will that could trigger a serious downturn in the global economy mess on my base case terrorist, but I think the poorest is growing based cases that they still work. They it takes a while longer than we expected, but they work out some sort of face saving compromise over the next couple of months, and you know, it's disappointed all the comments were steering the markets, which deals close we're going to get one in May June, and you know, much like the word we're hearing from both sides China annual. So this was a real gut check. And I think it's. You know, take a while to get over it, you know, so where we left well global trade will suffer global growth arising, and it are two very very very negative for EM. And so actually continued weakness they intensified with head. Okay. So right now, we are saying the MCI emerging markets currency index actually poised for its worst day since August two thousand eighteen its lowest level now since January so the beginning of January, so we basically a raised twenty nine thousand nine gains. I guess the question is going forward how much more downside. I mean, you were saying basically could deepen. But are we talking about, you know, a real sort of downturn? That is devastating for all the people who are logging earlier this year. Yes. I say. You know at at say, we MCI EM just equities it self. Then you have to look at possibly visiting the January low. I mean, I think the currency you point out the currency index, which is based on the equity index, it's leading this move. It's almost it's it's heading towards that way. So my my feeling is that the currencies. Well, most likely dragged equities lower. I think that you know, for the EM we have a chain ury low of somewhere around nine fifty something and change. I think nine forty something. I think that's totally within reach again Parbat. Also, how attractive is if it was to shorten sweet or short and sharp, then okay? Then we can kind over this. But I think both sides are taking in. I think I think what happened with Friday people got ill Optimus, go. Hey, they're both making some constructive comments. But over the weekend, you know, the sabre start rattling we start getting some sniping. And to me, it's it's not the so the environment for guests can do for deal. We had that a couple of weeks ago with the way things have kinda built in, you know, very very to me every sharp escalation of trade, threats, and and and retaliation. I don't think there's something at the two sides and get over quickly. So. Think maybe at least a month or two before we could actually talk about been talking right now, they they've been invited back to China, but there's no date set. So, you know, I it's it's not gonna be easy. Again. My base case is not that this turning all trade where that lasts for months and months and months, but that is a Taylor. I think markets are are starting to price him because I feel like China now has a greater incentive to allow devaluation of the Chinese currency, especially as trade rhetoric heats up. I mean, how much does that kind of factoring into your scenarios here? Well, that's always a sort of a piece pops up from time to time. But to me, the Chinese officials, despite you know, all these tensions what's last year. The of business said look, we're not gonna weaponize you on. And I I take him at the word. You know, we had it depends. He's last week. So we're going to history of the of the extremes their policy the last time. He divide was I think August two thousand fifteen and it it would cause mayhem not just in global markets in Chinese especially in Chinese works. He was capital outflows from China than that required. Extensive capital control has very stabilize into China, not just the global markets. And I don't think they want to go down that road. So I really do take them at the word. I don't think it will be weaponized yesterday. You want is performing poorly. But it's within the context of of a m. Bastet EM meltdown. So at to date the on it actually flat right now, it's one of the top performers like five or six performers flat. Whereas peso Argentine peso down twenty percent Turks thirteen percent etcetera etcetera. So, you know, if anything I think they would like to kind of keep it on more stable side. But it's funny. If you do if you correlation, I I love this one of their functions on on Bloomberg correlation between C N Y currency and MCI EM FX index on point seven five, which means to me. Ravin sort of resisting market forces the policy-making, China, actually, allowing you wanted to trade more in line with market wider EM and market forces. So look, you know, people asking weird, I think you want us to I said, well, what do you think EM's going going to weaken, the then you want is gonna weakness? Well, and that's what we're seeing Dr. Thank you so much for joining us on this day of some skittishness in emerging markets, and certainly the currencies there. You're seeing volatility pick up a lot more you're seeing in developed markets. Dr win thin global head of currency strategy at Brown brothers Harriman. Joining us from New York. I really interesting to see just how much the risk off trade is picking up to your yields the place of haven trades. That is where you are seeing people piling in yields now at their lowest since February two thousand eighteen at one point dropping the most since may of two thousand eighteen across the equity complex the indices being dragged down by the NASDAQ down almost three percent at this point. But the SNP endow indices not much behind it. Two point two percent losses on both of those. This.
"brown brothers harriman" Discussed on Bloomberg Radio New York
"He's a Bloomberg business world headquarters. I'm Charlie Pellett. We've got thirteen minutes to go ahead with the clothes on this. Tuesday. January eighth. The Dow the s&p NASDAQ and the Russell two thousand dollars advancing stocks are continuing their broad rallied. Today is the possibility of progress in US, China trade talks overwhelm skepticism about financials. The Russell two thousand up one point four percent. Nasdaq up one point one percent s&p higher by one percent up twenty five points. Nasdaq by the way, gaining seventy two points. Dow Industrial's up two hundred seventy four points up by one point two percent tenure down seven thirty seconds. Yield two point seven two percent. Gold up a down three tenths now at twelve eighty four ounce and crude oil advancing two and a half percent closing in on fifty again right now at forty nine seventy three a barrel. I'm Charlie pelletan. That is a Bloomberg business flash. Journal. Let me drive. Who is no. Honey, please. Dr. Question. This is the drive to the globe. Thanks, Dr dawn on Bloomberg radio. It is time for the drives. The clothes got clemen is chief investment strategist, Brown brothers Harriman, roughly five point six trillion dollars in assets under management joining us in our.
"brown brothers harriman" Discussed on Bloomberg Radio New York
"Dr Andrew Pechora is chief innovations officer at Hackensack Meridian health one of the largest teaching and research spills in the nation. He's also a world class oncologist working with research universities, like New Jersey institute of technology to revolutionize healthcare. The cross fertilization between academic institutions by NJIT and the life. Science industry is essential the convergence of science as we sit here today. It's the most exciting and dynamic. It's been in the history of man, we're on the verge of quantum computer nanotechnology is real and it's very rapidly. So we can build scaffolding and structures one atom at a time genome editing in stem cell science is are all parallel tracks that are converged together and change what we understand the humanity. We can now Jeanette it sells and make us if you didn't have a disease NJIT, New Jersey institute of technology. Learn more at storiesofinnovation dot NJIT. T dot EDU. Best of BusinessWeek breaking business news every weekday afternoon to Carol Massar. Jason kelly. Forget fangs David master Angelo at key Bank, capital market. He's a fan of wait for it spam? And we cannot forget about volatility. We break it down with Scott Clemens at Brown. Brothers harriman. Bloomberg BusinessWeek this afternoon at two on Bloomberg eleven three oh, the Bloomberg business app and bloombergradio dot com. Bloomberg the world is listening. Indepth analysis concise reporting need to know, global business news around the world and across the markets. Bloomberg. Connect the dots for decision makers, stay on top of today's headlines. Follow big breakthroughs in tech understand the latest political issues. See how the world's wealthiest are spending their money track. What's happening in the markets and much more subscribed today to Bloomberg global standard for business reporting. Get it all and Bloomberg dot com slash subscribe. What would.
Nasdaq falls as U.S. lawmakers grill Facebook, Twitter executives
"Seventeen past the hour. Let's get you caught up on market action kind of a mixed picture for equities in the states. The big story was tech. We'll talk more about that. In a moment. Ten year treasury last quoted in New York at a yield of two point nine zero on ESPN really kind of stable. We weakened but not by much and right now futures trading in Chicago for the Nikkei at twenty two thousand five thirty which has us maybe fifty points below where we finished in the cash market yesterday in Japan time now for the morning, call Melena Konia, MS here, she is a reporter for Bloomberg's macro squad quite a day for tech. Yeah. Really was done. So tech. Shares foul after lawmakers grilled Facebook and Twitter executives on Capitol Hill. Overall, US stocks were nice lower
L.A prosecutors declined to pursue sex abuse charges against Moonves
"Detectors undetected swat teams bomb sniffing dogs brought into Schenectady, today they check out a number of city and county buildings after vague threat was discovered on a note. City hall the county courthouse several other government. Buildings evacuated over a period, of a, couple of hours buildings were searched but Nothing dangerous was found a note was found on the avenue side of the Schenectady. County office. Building, and the contents of that note led to the evacuation, and search, all buildings and roads have been reopened CBS chief less Munoz won't face any, criminal charges in Los Angeles over a decades old sexual abuse case and acquaintance of Moonves went to the. Police in February to tell them about three incidents that happened in the eighties involving the CEO CBS prosecutors tell NBC, news at the statute of limitations has expired they're. Not, pursuing the case moon vez the, focus of a recently published article in which he's accused of inappropriate behavior and the CBS board of directors. Say there are looking for outside counsel to investigate WGN news time five oh five. Good update on Wall Street let's get the latest in. The Bloomberg market minute this Bloomberg market minute on WGN. Wise presented by Boucher financial group for CFP's one CPA, this is expertise. You can trust stocks advanced on hopes for dialing back of trade tensions. The Dow Jones, industrial Rose one. Hundred eight points or four tenths percent to twenty five thousand four fifteen the. NASDAQ gained forty two points or half a percent the s. and p. five hundred closed up thirteen points. Also half a percent the Federal Reserve opened its two day policy meeting Marc Chandler of Brown brothers Harriman is confident there will be no interest rate hike gradual mean it does not mean rate hike back to back meeting since the fed began. Raising rates in December twenty fifteen only readers rates whether the. Press conference scheduled Chandler is hoping the. Statement released by the fed tomorrow makes mention of some recent weakness in the housing sector the latest case Schilder report says that in may home prices in twenty big markets were up, six and, a half percent from may. Of last year the crude oil futures fell to. Sixty eight dollars and seventy six cents a barrel in New York today from.
"brown brothers harriman" Discussed on P&L With Pimm Fox and Lisa Abramowicz
"I think that's one of the problems that ms pricing em during this whole rate in environment and now re repricing em and the ones that were had the worst con fundamentals where we were sort of the most miss price than we have we started early in this game who gets re priced next indonesia brazil well brazil mexico are sort of in the sites because we've got a heightened political risk for both elections coming up as well as as someone week fundamental so you know again you know we're not talking about a huge you know devaluation sort of default the valuation scenario we are seeing know under this floating change regime we're seeing these currencies with poor fundamentals come under pressure so i would probably throw in south africa perhaps russia's well indian of the worst in asia but not it's really not as bad as what we're talking about in argentina turkey but again the microscope is on all these countries you know i would just talk clients and invested in general to be to starting to look at the fundamentals and realize that you know you can't tell everything on mass some some should do better than others some should be worse than others and that's that's really part of the fundamental story that's lost sometimes when there's a lot of the quality being thrown around dr then thank you so much for being with us a really important day for you to to be here giving us some insight dr win thin global head of emerging markets f x for brown brothers harriman in new york i'm sure this is a very interesting time for dr win thin as well as all those dealing in emerging markets considering the volatility that we've seen throughout the spectrum of currencies from turkey to argentina this is bloomberg markets.
"brown brothers harriman" Discussed on On Point with Tom Ashbrook | Podcasts
"Look at the professions involved in manipulating money or engineering cash somebody who worked at brown brothers harriman in the nineteen twenties did not make the kind of salary potentially that their equivalent that goldman let's say a hundred years later makes they they had a nice life they had a suburban house more metropolitan areas had a short haul rail to take them to the cause cobs in the greenwich is in the will mets in the win 'cause they lived a nice life but that separation that they had between the people who were making the stuff of society was not as great as it is today yeah that's right and i you know i experienced that firsthand i guess you can call it salary shock because i in in the nineteen eighty s i was only graduate student in philosophy and looking for a job i wound up in managed and consulting management consulting for financial services and it was i was stunned really to see the differentials how you know how big the gap is between the kinds of compensation that people expect in these professional arenas versus this sort of average american worker and you know that that is only grown and it's grown dramatically over the last thirty years jaso so writes i'm an upper middleclass american probably ninety percent and i'm astounded when i hear peers complain about our lot in life talk about lack of imagination stroia and rights i quote i struggled and i made it those people never those people reassure themselves that struggling is both necessary and sufficient to become rich they never ascribed their success to unfair advantages or simple good luck this is the fundamental myth of america and it is destroying us richmond virginia is next joe welcome to the program.
"brown brothers harriman" Discussed on P&L With Pimm Fox and Lisa Abramowicz
"Any want replacing the dollar chinese officials themselves recognize added they they they seem to be more circumspect about the role of china in they really more strategic view i hear a lot of people talking about about china and the and do the petrodollar the beginning of it petro rb the launching eventually they say of a of an rb denominate oil contract people are people in the private sector in the market are talking about the dollar's that'd be replaced but i find that sometimes of price action influenced the news and sometimes in news impacts of price action is one of the times i think a falling dollar is getting all these kind of like conspiracy theories and the how the dollar's going to be dethroned out of the woodwork these ideas and i think that the rb is nowhere close the dollar makes up about sixty three percent of the world's reserves the are and be a little bit more than one percent thanks for putting in prospective forest mark chandler's the global head of currency strategy at brown brothers harriman two two two the question of need does anyone really need an suv that goes from zero to sixty and three point six seconds or can do one hundred ninety miles per hour does anyone need six hundred forty one horses streaming behind them is it in yellow it is in yellow or and can be in yellow and it is the new lamborghini suv it is called the arrests and it joined now by the a global chief executive up automobilia lamborghini is stephane a the minute cali thank you for being here in our studios much appreciated at what was the thinking behind the creation of the or a speak 'cause there are already a variety of a high luxury suvs even from the likes of bentley and the likes of audi and so on that you can call luxury what inspired the lamborghini brands to want to make their mark in this market well i would say that these parisian came from the knowledge of the marked.
"brown brothers harriman" Discussed on WSJ Watching Your Wealth
"Support for wsj comes from comcast committed to improving your customer service experience with twohour appointment windows including nights and weekends because they should fit into your life not the other way around learn more at xfinitycomservice today and watching our wealth how women entrepreneurs can get funding for their businesses this is watching your wealth from the wall street journal now from our studios in new york here's veronica dagger this is frantic adaren you're listening to watching your wealth while you learn all you need to know about building your wealth and protecting your money adrian penta is executive director of the center of women and wealth at brown brothers harriman welcome back adrian thanks for annika great to be here great to have you so adrian tell us about the situation in terms of this funding gap how real is this gap and can you qualify it for us and fortunately the funding gap is a real thing so women businesses women own businesses are getting less funding and by funding i mean all types of funding whether it be debt or equity seedfunding angel funding private equity venture capital all types than armed businesses that are run by met so to put some numbers to that starting with debt so women only get four percent of conventional small business loans right now go to a woman business owner only three percent of total be cedler venture capital are invested in a company with a female ceo and i think that's the area that we hear the most about when we're talking about the funding gap is that so much venturecapital still goes to companies run by man and so little goes to women own companies are women run companies and then when you get to angel funding only nineteen percent is received by women at the same time women entrepreneurs are doing incredibly well they're running big businesses they're generating one point five trillion dollars of revenue annually and they're actually performing better businesses with a woman on the executive team are more likely to have higher valuations at series a sixty four percent higher.