The character first made appearances on the short-lived sketch comedy series The Dana Carvey Show indescribed as "a self-important, trench-coated reporter who does on-location stories in a way that suggests his own presence is the real scoop. In these sketches, Colbert began to amplify his character to parody news pundits. The duo supposedly came up with the idea for The Colbert Report after watching coverage of the sexual harassment lawsuit filed against Bill O'Reilly.
Old crime, new twist. The world of hacking is entering a new front and it exposes a vulnerability within the financial world. Why thousands of young children qualify to collect their own Social Security checks. And good evening, everybody. Good to have you along for the ride tonight.
Thank you as always. Well, if China was looking to jolt the global markets, it certainly succeeded. Its largest devalue situation in 20 years.
Those concerns sent stocks tumbling. The Dow Jones Industrial Average fell to 17, Commodities also came under pressure since China is a big buyer of them. Crude was also pressured by a report from OPEC that showed output increased to a three-year high in July.
The impact could be wide reaching.
It was a shot literally heard around the world. Factory output is weak, low inflation is making it harder for Chinese companies to pay off debt and the government has been cutting interest rates while trying to fend off a stock market collapse.
Now, devaluing the currency means Chinese exports are cheaper to buy but the reverse is also true. Goods imported into China, especially commodities like oils and metals are more expensive. AAPLall rely heavily on sales in China. But a weaker yuan means less revenue when their sales are converted back into U.
Overall, it does 27 percent of its business there.
INTCwhich does 36 percent of its sales there. TXN with 44 percent. Just how much the lowered yuan will influence the U.
Some believe it will be a big factor. I think they are going to hold. I think this make it is much more likely that they are going to hold. Others, not so much. All of this, lots else could happen between now and the middle of September.
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Nov 10, · Tonight on Nightly Business Report – the Trump Rally continues on Wall Street as the Dow hits an all-time high.
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Watch video · today investigators saw the biggest drop in the stock market in a month. corporate profits are growing by more than 30% in the most recent quarter, but the economy clearly remains weak.
roger ibbotson joins us from the c.m.e. group. welcome back to "nightly business report.".