thank you, stephen carroll.t's time for the press review. ♪ me ton sergeant is with take a look at what the papers have been saying. you're starting with the papers in france looking at the new cabinet that was announced yesterday. , 11 women.rs, 11 men they come from left, right and center. the news calls it a government in working order. several papers are heralding this government as being quite balanced. paper says it shakes up divisions we are used to seeing in french politics. in thear response catholic paper. they call it a balanced government. a balance that macron worked really hard to achieve. where we seeawing emmanuel macron and his prime minister building their government very carefully like they are playing a game of j enga. genie: other papers are saying to government is not as perfectly balanced as all of that. >> there is a really interesting article going through emmanuel macron's promises. technically he has created a government with an equal number of men and women, but men are still playing

it is time for business news with stephen carroll. thehad been looking at market reaction to the twist in this controversy. the dollar has fallen against the japanese yen and euro in trading. currencies,sket of the dollar has lost all of the gains it has made since donald trump was elected. those fears pet eight -- play into the stock market. thisare worried about how could derail trump's tax reform. >> staff are fighting to save plants from closing down. their sights on the president. it is one of the disputes the president is facing. they would rather blow their factory up then see it closed down. marched through the streets in central france. company is one of the primary employers. >> maybe we have not lost the battle. >> employers demand carmakers place an order big enough to save factories from blowing down . the man workers want to get the attention of is their new president. negotiations have gone up to the highest level. we worked with france while whole and, nothing -- france while whole law and -- francois hollande and noth

stephen carroll joins me. we begin in china where the credit rating has been cut. n: it has been cut from one notch to aa3 to a1. the agency expects china's financial strengths to diminish in the coming years as a result. the chinese government has criticized moody's decision, saying that used inappropriate measures in their calculations. incorrespondent and beijing is brian kopczynski. brian: economically, this could create some problems for china's economy, raising costs, for example, for issuing bonds to companies, and in addition, it might hurt china's overall financial soundness, in particular both the stock market took a bit of a hit this morning, so that may be more of a temporary thing. perhaps moreover, though, it is more political. some say this is an embarrassment and a loss of faith on the chinese government, talkingly as they are about the reforms in the economy. economyese leadership this meeting this fall is one of the biggest meeting of chinese president xi jinping's term. a strong,to be seen confident, and smooth sailing. more than anything else, it

genie: time for the business news with stephen carroll.rop inve seen a sharp the value of sterling trading today after a new poll suggested the conservative party risked losing its majority after the election. andipped below one dollar $.28. as the most seen vulnerable to the outcome of the election. if theresa may failed to extend her majority beyond 50 seeds the majority could see a sharp selloff. conservatives with a 15 point lead, hovering just above $1.28. on the stock market, the ftse 100 is trading close to a record high because a weaker sterling tends to help take exporting .ountries investors digesting news that unemployment. that's the in the eurozone has fallen yet again to 9.3%. lowest since 2009. genie: goldman sachs is becoming a target for protesters. >> it snapped up $2.8 billion of don's in the company's national oil company. the deal provides nicolas maduro's government with hundreds of millions of dollars and makes goldman complicit in human rights abuses carried out under his rule. the bank says it bought the bonds thro

genie: it is time for business news with stephen carroll. we will start in australia, where the government has slapped a massive tax on banks. stephen: the country's five biggest lenders are being hit with a levy of over 4 billion euros. the tax will raise cash for the government to help plug its deficit. shares of the bank plunged on news of the levy. australia's finance minister has told the banks they are not to pass the tax on to consumers. >> my message is that they have to do their fair share of budget repair, and that is what they are being called on to do. rejected 3.5s million net, and that has to be 84, and the banks have to ensure that we are doing that. stephen: in europe we have things pretty calm. that is the same calm we have seen since the start of the week since the results of the french elections. these -- despite the news that donald trump fire the director of the fbi, trading is down slightly. the markets are still trading close to high-level's. genie: coal miners in west virginia say they are seeing benefits of the presid

stephen carroll joins me, starting with british airways, where things are returning to normal after they chaotic problems. stephen cole and the airlines has i.t. services are back up and running. they are running full service from london's heathrow airport today, but the country -- company is warning it might take time to return lost bags to passengers. the i.t. system was hit by a power surge. it will also affect the company's finances at a time it has returned to profifit after years of cost-cutting. >> it t is a scandal that is digging into british airways' on profit. it could cost the airline nearly 3% of its estimated yearly earnings, a bill that could run up to nearly 80 million euros. >> we are working -- he will make a full investigation, exhaustive. we will find out exactly what happened, and we will make sure this will never happen again. >> british airways is one of the world's biggest airlines, but like many major air carriers it has been struggling to fend off low-cost competition as the market has opened up facing record losses in 2009, british airways cut thousands of jobs

us.or: stephen carroll with , not even 24hester hours after the horrific attack after the manchester arena. tell us more about the vigil planned later today. it was announced by the mayor, andy berman, and is asking for people to gather at 6:00 at hours gather -- our square and he said is important that they send a message that you though they are grieving they are strong and together. he is asking people to attend to he isolidarity and praising those people who volunteered their rooms, taxi drivers volunteering their services. he is praising the community for standing up area we have been hearing from the health services who are dealing with the injuries. 59 people and they are describing some of the efforts to continue treating those people. being treated at hospitals, some for life-threatening injuries and many more, walking wounded on the scene. the chief executive of the north and you laughs services -- ambulance services saying there were devastated by the attack last night and triggered an emergency response to it as soon as the incident started to unfold. the spread of where

time for business now -- stephen carroll joins me. good to have you with us. we start in the u.k. where consumer prices are on the rise. stephen: inflation in the united kingdom has risen to its highest level in more than four years. to rate for april jumped 2.7% mainly thanks to hire airfare spared the increased cost of clothing, electricity, and other items contributed to the increase. inflation is considered to be one of the biggest risks to the u.k. after brexit as imports are more expensive. the bank of england expects inflation to peek at just under 3% next year. rochelle: next, a report of major job cuts at fort. stephen: "wall street journal" says the carmaker is planning to axe as much as 10% of its workforce part of a cost-cutting plan and that boosting profitability. ford's chief executive has been under pressure over the 40% slump in the share price since he took over three years ago. the carmaker's value in that time has slipped that of rival general motors and tesla. job cuts are expected to be confirmed later this week. rochelle: next, stephen, you have been keeping

thank you, stephen carroll. now time for the press review. taking a look at what papers have been saying today. lots of focus on the backlash following the firing of the u.s. fbi director james comey. >> that's right, and unceremonious firing, the one make you think of his previous reality show. for nla cartoonist, it feels like donald trump misses his old job and is very famous catchphrase, you're fired. although this cartoon says this is the special cover up edition, on to the factusi that many believe that comey was fired because of possible ties between donald trump and russia, and his dismissal has also cast a debt over the future of that russian investigation, according to the new york times. the fbi says it will continue to investigate all crimes. it is business as usual. that is what the acting fbi chief said. >> that man andrew mccabe also has a questionable past of his own. >> the daily beast looks into his background. one thing that stands out, mccabe is a pure product of the fbi, having come up the ranks. like comey and others who