We are also getting some breaking news out of china for end of july Foreign Exchange at 3. 1 coming in trillion. It is a touch above that. The markets also focusing on the stimulus in the u. S. That may or may not be coming. President Donald Trumps latest attack on Chinese Companies also stoked tensions with beijing, which is why we are seeing treasuries and dollar actually rising. The president signing an executive order prohibiting u. S. Residents from doing any business with wechat, tiktok, or the owners of these chinese apps. Now, lets get straight to the bloomberg first word news. There has been no headway in talks between the white house and democrats over a new virus relief package. There are still major sticking points and both sides are accusing the other of refusing to compromise. One key difference is the top line number. The democrats want 3. 5 trillion of aid. The republicans want 1 trillion. Another round of monetary stimulus is expected from the bank of england. Policyma
That this morning. There are people that have gloom, there are people in in the middle, and there is a sizable group saying forget about it, there is sizable momentum in the economy. We will have to see. Francine lets get straight to first word news in new york city with ritika gupta. Ritika President Donald Trump is moving to ban tiktok and we chat in the u. S. He signed executive order residents barring people from doing business with them. It does not amount to a broader ban of dealing with its owner, tencent. Tiktok says it is shocked by the order and will pursue all available remedies. The u. S. Is looking to tighten workinga president s group on Financial Markets is recommending the sec strengthen auditors, bout in hong kong, plans to offer free virus tests to all residents. The move reflects a boost in Testing Capacity with help from mainland china. There has been no headway between white house and democrats over new virus relief package. The main sticking point, both sides accu
The cash trade is one hour away. Lets get your top headlines for you off the bloomberg terminal. Trump signsnald executive orders blocking u. S. Residents from doing business with tiktok and wechat. Shares in tencent plummet. The white house and democrats failed to strike a deal on stimulus. Trumps chief of staff says the differences are still significant as the july jobs report looms. We will speak shortly with Standard Life aberdeens deals, flows,bout and his successor. Results are crossing the wire as we speak. Annmarie, what do you see . Annmarie looks like it is a beach. Eps comes in at 7. 0 pounds. And then the first half adjusted pretax is 190 5 Million Pounds. The estimate was just under 180 so that is a beach and we will dig down deeper into these earnings when we have the ceo, next. I know you have some news coming out of berlin right now. Matt that is right. We have Industrial Production right now out of germany. Pretty backward looking because it is data from the month of j
Worsening Downside Risk. Raphael bostic knows joblessness seems to be flattening plateauing at a high level. Netflix plunges on disappointing subscriber forecasts. The Group Announces its chief content officer will join Reed Hastings as joint ceo. Just under an hour ago to the start of cash equities trading. With have a look at what is going on on futures market, a little bit of upside for European Equity markets and u. S. Markets for when we get to the u. S. Trading day. ,eep an eye on nasdaq features quite robust, up around 7 10 of 1 despite afterhours negativity around netflix, contained to just a netflix story, not anything broader about the tech sector. Weve had pleasing reports but they havent always been accompanied. Rising share prices is an interesting dynamic to discuss. Getting some numbers from electrolux, recovering faster than predicted. The numbers look to be broadly in line with estimates. Coming up, speaking to the ceo. The ceo will be joining us later on, jonas samuel
Report 1. 5 million euro loss leading to job cuts. Industrial profit forecasts beat sending shares higher the ceo says hes cautiously optimistic we have the prices under control as much as we can control it going forward, there is some volatility that we will see a second wave. Mining giant glen core ditches its dividend following a massive impairment charge following the bottom of the stoxx 600. A warm welcome to street signs. It is a big day before the bank of england keeping rates steady and left the size of the Asset Program unchanged. Bankers are painting a more pessimistic recovery warning that they wont return to precrisis levels before the end of the year. They expect the rate to double by the end of 2020 looking at the action surrounding the bank of england news starting with guilt we have the move lower out 2. 5 . Third year trading 64 points or so sterling has hit a fresh fivemonthify versus the dollar. Currency investors like what they see to get into more detail from the b