this is a deal and it s good news, i believe, for the american people. the agreement prevents the worst possible crisis, a default for the first time in our nation s history. the two parties have untiljune 5th to reach an agreement to prevent the us government running out of money. our correspondent in washington jessica parker has more. this deal is set to raise the debt ceiling for two years. that s a big win for the white house. why? well, it means that, forjoe biden, who of course is seeking re election in the 2024 presidential race, he won t have to face this political drama, instability, brinkmanship, right in the run up to that presidential election, so he ll be pleased with that. but the republicans are trying to say they ve chalked up wins in terms of policy, so they are talking about, for example, kevin mccarthy, the house speaker, that there will be curbs on spending. he s talked about how there will be tougher work requirements for some people in receipt of food a
germany s public transport network will be at a near stand still today as two of the country s largest unions strike in an ongoing dispute over pay. workers walked out shortly after midnight for 2h hours. two of the country s largest unions which are demanding significant pay rises for their workers want to increase the pressure on employers ahead of another round of negotiations. there ll be all but no trains, planes or ferries in operation after workers walked out, and motorists have been warned that staff who maintain motorways and repair road damage after accidents are also on strike. damage after accidents let s are also on strike. talk about the impact of all let s talk about the impact of all of this. joining me now is christian schulz, deputy chief european economist at citi. they seem huge. what sort of impact will the strikes today across germany? impact will the strikes today across germany? well, good morning- across germany? well, good morning. everything
To american officials and several media outlets. In a statement, Us National Security Officials Say that Arms Negotiations between russia and north korea are actively advancing. We know that the Russian Defense minister travelled to north korea to convince them to sell Artillery Ammunition to russia. We urge north korea to cease its negotiations and abide by the public commitments that pyongyang has made to not provide or sell arms to russia. The two men already met in russia in 2019, for their first ever summit that took place in vladivostok. It is likely that this meeting, should it happen, would take place in that same city or possibly in moscow in september. Here is whatjohn everard, British Ambassador to north korea between 2006 and 2008 makes out of kimjong un and putins plan to meet in russia to discuss weapons. But of course the background is all about the possibility that north korea might supply russia with useful amounts of munitions and other weapons for its war effort agai
Picked up at the breakdown, more downbeat picture. So the acceleration really driven by net exports. It tends to a bigger decline it relative to exports. We look at domestically indicates this, private consumption, government spending, investment, all of this indicates it actually to curated so that sick new rules weakening. Signals weakening. Is the slowdown on china likely to reflect on the numbers here . If you look at exports thats contracted in the fact that china accounts for 20 of korean exports that suddenly imposing a track on the overall Export Sector. If you look at Customs Trade Data today, total korean export revenues have only about 12 year to year. But if you isolate exports to china, that has fallen by 25 . So that is the key driver of the Export Sector will be missed. In the months ahead, what are some of the key sets of data that you will be looking out for . We will be watching the High Frequency data so far but we have seen for quarter three so far still suggests it
On friday, university of Michigan Survey showing deteriorating sentiment that sets the tone for Inflation Numbers due later this week and what it means for the fed. Japanese yen tracking a slight decline, firming up following two bouts of intervention, but today we are getting closer to the 156 level at this point in time, and also keeping track on whether that becomes a net negative for investors. Blackrock is the latest saying yen weakness could deter foreigners from Japanese Equities even though we haves seeing it be a big moose when it comes to export gains. Lets look at what is happening in korea. Trade data, we do get the 10 day trade data from south korea that drops. We are waiting for those numbers to come out, and exports gaining 16. 5 on the year. Not just for this region but korea a trading bill for the economy. Haidi take a look in terms of how we are starting to come online when it comes to that stagnant open in sydney. Market to coming off three weeks of consecutive gains