00:00 Speaker a
Well, the first thing you need to know is we are trying to focus on the labour market. After weaker than expected jobs market figures this week, August employment will be reported to the East at 8:30am today. The report is expected to confirm these trends seen elsewhere in the US economy. Economists hope that the US economy will add 75,000 jobs in August, a slight increase from July numbers. Meanwhile, the unemployment rate is expected to rise from 4.2% to 4.3%.
00:29 Speaker a
And now, looking at wages and economists, we expect hourly income to increase by 0.3% from the previous month in August.
00:46 Speaker a
Now, all the next thing you need to know is about energy, and we're talking about the winds and clashes between the Trump administration and the Danish company Austed. Shortly after the new profit warning was issued, shareholders approved the issuance of $9.4 billion in emergencies. Orsted's pitch to raise the capital comes amidst the chaos caused by a sustained attack on President Trump's offshore wind project. In fact, last month, the White House ordered the company to stop working on almost entirely wind farms. The company's stock, which has fallen nearly 90% since its peak in 2021, is currently up over 2%, as we're talking about.
01:29 Speaker a
And the last thing you need to know is we head towards the world of technology. And US President Donald Trump yesterday hosted a famous dinner with more than 20 high-tech executives at the White House Rose Garden, where industry leaders praised the administration's stance on AI and business. The rare get included Mark Zuckerberg of Meta, Tim Cook of Apple, and Microsoft founder Bill Gates, but not Elon Musk. In fact, this morning, the FT reports that the Tesla committee will award him $1 trillion if the EV maker hits some formidable targets. Now, listen to the exchange between Metabos and the President.
02:22 Speaker c
I thought you would say some words and we probably could ask some questions later. Mark, do you want to say some words about the company?
02:30 Speaker b
of course. Well, that means I'm sorry, I need to turn this on?
02:33 Speaker c
Yeah.
02:34 Speaker b
Okay. Um, thank you for hosting us. So, this is quite a group to get together, and I think you know. All the companies here are just making big investments in the country to build data centers and infrastructure to empower the next wave of innovation.
02:54 Speaker b
So, we don't often come together as CEOs of various companies, but it's good to meet everyone.
03:03 Speaker c
How much are you spending, will you say in the next few years?
03:07 Speaker b
Ah, oh oh um, I think it will probably be something I don't know. Yeah.
03:22 Speaker c
Is there a lot? No, um, that's important.
03:36 Speaker a
Today, we conclude the big week with an AI revenue report with some big news. Broadcom and Openai are working together to build AI chips. That's according to the Financial Times. And this is the latest indication that there is a growing gap between winners and losers in artificial intelligence. Let me explain. Broadcom Stock is an outstanding winner. Look at this, go up 9% or more in advance market
04:02 Speaker a
After the company reported record revenue last night. Let me remind you of how big this is here. Broadcom rated at around $1.45 trillion. So we're talking about about $130 billion being traded overnight. Broadcom also thrilled investors with AI revenues surged and stronger outlook, delivering record revenues of around $16 billion in the third quarter. News of the Broadcom Openai Partnership is driving speculation this morning that Broadcom is aiming to take on Nvidia.
