Oil rallied to the highest level in five months as a fresh wave of US sanctions against Russia’s energy industry threatened to crimp supplies from one of the world’s top producers. The US imposed its most aggressive and ambitious sanctions yet on Russia’s oil industry on Friday, targeting large exporters, insurance companies and more than 150 tankers. In the UK, the pound extended losses against the dollar, pressured by UK fiscal and economic concerns. But member of the UK House of Lords and former chairman at Goldman Sachs Asset Management Jim O’Neill tells Bloomberg’s Francine Lacqua that sterling’s moves are because of a strong dollar, not a weak pound. "We have a very strong dollar and the dollar is rising against many, many currencies," O’Neill says.
Today’s guests: Janet Henry, HSBC Global Chief Economist; Jim O’Neill, member of the House of Lords and former Chairman of Goldman Sachs Asset Management.
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"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Chapters:
00:00:00 – The Pulse With Francine Lacqua
00:03:18 – New US Sanctions on Russia
00:06:04 – Pounds Extends Slide on UK Fiscal Woes
00:06:40 – Janet Henry, HSBC Global Chief Economist
00:10:59 – US Core CPI Seen Cooling Slightly
00:14:06 – Traders Pare Back on Fed Rate Cuts
00:18:18 – Los Angeles Faces Little Relief From Fires
00:21:43 – Trudeau Says Canada Tariffs Ready if Trump Starts Trade War
00:26:48 – Markets Position for Weaker Pound
00:29:28 – Jim O’neill: UK House of Lords Member
00:38:19 – One Week Until Trump Inauguration
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