Foundations for a new eastwest trade route. Rishaad the weekend hackers may strike again on monday. At apples market capitalization in excess of 800 billion. If you add them up, you have a 8527,d capitalization, we are at roughly 3 trillion. Quite something. That is what we have at the moment. Some people saying these five have too much clout when it comes to soft power and real power with the amount of data they have at their disposal. The tech names pushing higher with the rest of the market treading water. On the asian agenda, some china expected, retail sales come Industrial Production, some of that expected to have ease, particularly industrial activity , painting the picture q1 was week. I want to touch on the credit data over the weekend and on friday. , credit expansion continues to push forward despite the Deleveraging Campaign from beijing that has shaken the markets. We did see these numbers coming in stronger than expected, aggregate financing expanding to just over 200 bil
Vindicates the focus on media and entertainment. ,ollow me on twitter rishaadtv use trendingbusiness as well. China out with manufacturing pmi numbers. Tom mackenzie is in beijing. What are we seeing here . A minor miss for the july manufacturing pmi data. At 49. 9, then manufacturing pmi for july. The forecast had been for 50, so marginally off. It was 50 in june. I dont think that will cause concern amongst holocene makers, but below forecast. China policymakers. Nonmanufacturing pmi and june was supported by the construction sector. July nonmanufacturing pmi 53. 9, so it will be interesting to see if services have picked up. Key details in the manufacturing firms,a is hiring by factories, keeping labor costs low, starting to increase employment numbers. Also, fixed Asset Investment has been weak. It had been hoped that the weaker renminbi would support manufacturing. Deflationary prices at the factory gates have eased somewhat. Thee is more credit in system in china, so manufacturer
Starwood. Well talk to marriotts ceo, arnie sorensen. The president in cuba raises questions about Economic Opportunity there. And were hours away from apples highly anticipated event. Well look at what to expect. Valeant has been halted for the past half hour or so. As becky pointed out, mike pearson leaving the company. Ackman to the board. Predictable or not, jim . No. But there hasnt been much that is predictable. Theres a mea culpa note from Lehman Brothers taking the price target from 135 to 134. Taking numbers from 10 the reason i point this out is because the numbers are all of the map. No one knows the cash flow, what the company is really do. Ackman joining the board is a sign he cant dump the stock. They couldnt dump the stock. This is a great mystery, carl. When you have a company where you have to idea what it will earn, where its dermatological business is being carved up aggressively by allergan. Ophthalmological being carved up by j j. All this stuff. This is a company,
Well over the next two hours. Welcome, everybody. Im Tyler Mathisen with brian and melissa here and michelle in havana. But we begin this hour with john fortt in cupertino. This phone here might look old. The iphone 5s. We expect Something Like it to be the star of todays event. Perhaps called the iphone se. Apple is expected to resurrect this four inch iphone form factor in a newer phone with upgraded internals, better camera on the back, and upgraded chip inside, perhaps the a9, recently been in other phones. Now, part of the question is how much this will cost. Rumor has it could cost as low as 450, comparing to 650 for the iphone 6s. The latest out the gate. That could be important if this is part of apples move to get deeper into Growth Markets like india and china, which have had the strongest growth from apple thus far. It is not just about the iphone. We also expect new watch bands for the apple watch. Now the new watch itself, but new bands and also the ipad expected to get an