Time. How much more can this market take before there is longterm effects on the economy . Thank you. Market does short run corrections. About 10 or 11 or something. Weve been through this many times before. I dont think, even though it is a frontpage story and no one likes to see their asset values go down, i just dont think, at this point, it will have much of an impact. , how longlify that this lasts,. How long this lasts, it depends on how deep it goes. I will remember i remember i was a reagan cub scout and i remember the 1987 market crash and president reagan saying the economy is fundamentally sound and the economy grew by 3 or 4 after the crash. I think President Trump said it in this room two nights ago, we just think the economy is sound. Therefore, i dont think this shortterm stock market plunge will have any longterm effect. [indiscernible] not at the moment. If you had a friend that was thinking about going to china, what would you tell them . Stay home. What effect do you
Im Francine Lacqua in london. These are your markets. 0. 4 . An markets down a lot of the market put a position that the economy and a lot of the earnings would go through the coronavirus. Not so after the apple news yesterday. There is more concern about the deadly coronavirus trade looking at treasuries, they are rising. Americans reopening after a holiday. Yesterday was president s day. Jumping as much as 24 after unsuccessful bid for the small arrival. This may be the kickoff of banking consolidation in italy and then further into europe. Coming up on bloomberg surveillance, our exclusive conversation with the hsbc Financial Officer on the banks job cuts. First word news. Viviana hsbc is set to slash 80 of its workforce. The lender taking more than 7 billion of charges and suspending buybacks as part of a restructuring plan. Plans to exit some businesses and cut costs. Hsbc still hunting for a permanent chief executive. We also spoke to the lender cfo about the coronavirus outbreak
One is economic confrontation and the other is expanding domestic Political Partnership just to bring you some gdp data from determine any, the economy there for 2019 has grown 0. 6 thats the weakest sings back in 2013 in 2018, that was 1. 5 the Public Sector Budget Surplus was 1. 5 of gdp. Thats fall evan significantly from the 2018 number which was 1. 9 the forecast in line, 0. 6 was the forecast those are numbers from the german office. This is all about export economy here in germany. We are seeing trade war Overall Economic slow down challenges when it comes to auto sales all weighing on those gdp numbers which forms the backbone of that heavily focused number my colleague is in frankfurt this morning and can provide more context annetta. Reporter actually, that is bang in line with what we were expecting for 2019 from germany. What you are saying, those factors are still there. The trade war is not going away. The structural changes are not going away the question is whether the
And we have video of the chinese communication has been an issue, tax reform is hard to vice premier meeting with u. S. Communicate. Dagen wrote trump is his own communicator, he is the best trade representative lighthizer communicator. Right now, only video, american maria see you soon, have a great day, varney and Company Begins now. Video of the meeting. Treasure secretary Steven Mnuchin joined for dinner, this stuart history about to unfold deal pauses tariffs Going Forward but still 250 billion on varney and company. In chinese import under 25 dignitaries assembled in the tariff and another 120 billion under 7 and a half percent until white house for the formal signing of the china trade deal. It will be quite a show. The president , Vice President , cabinet, members of congress, Top White House officials will all be there and so will phase 2. He will consider releasing chinas toplevel delegation. The vice premier, the commerce tariffs as part of phase 2. So theres, nothing to do
Whats being done to modernize the library of congress. We heard testimony from dr. Carla hayden, the librarian of congress. This is a little more than an hour. [inaudible] who also chairs the appropriated committee for library and i think thats particularly helpful that you could be here as well. Also a member of this committee so shes here as a of the committee but also on these topics, particularly fallible in her role as appropriate. We have been having with the library, with the smithsonian, with the architect of the capitol these kinds of oversight hearings to fulfill that responsibility and be sure were giving the agencies to help they need. Were glad to be here of course with the librarian, dr. Carla hayden, with mr. Barton, the chief Information Officer and your temple, the register of copyrights. Thank all of you for being here today. I think we want to talk primarily police i want to talk primarily about monetization. We had a chance with dr. Hayden at the last meeting to tal