European Market Breakdown
Airtime: Wed. May 26 2010 | 11:31 AM ET
CNBC’s Annette Weisbach breaks down today’s European market action.
Airtime: Wed. May 26 2010 | 11:31 AM ET
CNBC’s Annette Weisbach breaks down today’s European market action.
“We’re going to have another recession, I guarantee you… By 2012 say, it’s time for another recession,” Jim Rogers, chairman of Rogers Holdings, told CNBC Wednesday. “The next time it’s going to be worse because we’ve shot all of our bullets,” he added.
China’s domestic market has become very strong, notes Allan Zeman, chairman of Lan Kwai Fong Holdings, prompting him to set up a similar entertainment strip in Chengdu, as well as a mall in Guangzhou. He sheds light on the changing face of the Chinese consumer, with CNBC’s Bernard Lo & Karen Tso.
Fed Chairman Ben Bernanke gives his opening statement to a House Financial Services Committee hearing on the link between bank supervision and monetary policy.
Japan has revised downwards its Q4 GDP growth to 0.9%. Frederic Neumann, senior Asian economist at HSBC, tells CNBC’s Martin Soong & Karen Tso that this revision adds pressure on the BOJ to extend its easy monetary policy.
The level of compliance to oil quotas among OPEC members has been sinking in recent months. OPEC compliance is now a cause for concern, HE Abdalla Salem El Badri, secretary general of OPEC, told CNBC Wednesday. El Badri added that OPEC is seeing strong demand growth from China and India.
House Speaker Nancy Pelosi (D-Calif.) talks to CNBC’s John Harwood about.