Warning of weaker Global Oil Demand because of jet fuel demand. And martha pollick on the colleges plan this fall. Lets get back to the lead story on the Economic Data front in the u. S. The number of americans applying for Unemployment Benefits falling below one million since the pandemic began in march. We are seeing economic recovery getting some traction. Joining us is michael mckee. Is it good news, bad news . Think itsdont either. It doesnt show that the recovery is gaining traction as much as the decline is flattening out. We are talking people filing for the first time and it is still almost one million. Their deep scars in the labor market. Although the data is two weeks old the number of people receiving some kind of benefit is over 28 million. There are a lot of people still hurting. Will that push people in washington towards making a deal . If we havent had that already, its hard to see how this number in particular fix them one way or the other. Alix is there anything to
A big question about Political Risk heading into november. Francine we will have plenty more on u. S. Politics. We start with Leslie Vinjamuri shortly. Lets start with first word news with ritika gupta. Ritika joe biden is counting on thela harriss ties to Africanamerican Community and herself branding as a prosecutor. As a progressive prosecutor. She is the first black woman in the first asianamerican on a major Party President ial ticket. Before being elected to the senate, she was californias attorney general. Upcoming trade talks with the u. S. , bloomberg has learned to chant that chinese will bring up President Trumps second ban on the two apps, wechat and tiktok. In hong kong, media tycoon jimmy lai has been released from jail after being arrested monday, the most prominent figure detained yet under chinas sweeping new National Security law. It is seen as a sign of how hong kongs independent Justice System is being undermined. The apple daily is critical of chinas communist part
Package. El wanted 500 billion, but the hardliners were said to be pushing for as little as 350 billion. Grants ase amount in opposed to loans that countries like italy, that stricken, would have to pay back. Bloomberg eulling hardliners are ready to accept 390 Million Euros in grants so a deal can be done. A mixed picture for stocks amid a spread in coronavirus cases. Infections hit a daily record as a u. S. Congresswoman calls floridas outbreak out of control. Underways in getting in europe. We will see how the pandemic impacted phillips when we get their earnings and we had to zurich as there is a big week for the banks. Let me just tell you quickly that we have phillips earnings, Second Quarter revenue four point 4 billion euros across the bloomberg, the estimate was for four point 31 so revenue beating the estimate as far as earnings are concerned for philips. The earnings before taxes, philips in the Second Quarter, 418 Million Euros and we were looking for, according to a survey
Flares up again this time over hacking accusations of market correspondent will fill us in. And shop til you drop well that was difficult securing lockdowns now retailers can sell again but those based inside shopping malls have a hard time getting back to normal. I want to come to the business after this his visit to london today the u. S. Secretary of state my compare today arrives in denmark on the agenda is likely to be the topic of whether greenland is for sale a year ago the United States and now they were interested in buying the territory rich in Raw Materials but denmark rejected the proposal another point of contention could be the north stream 2 baltic sea pipeline which runs through danish waters. And sanctions towards Companies Involved in the project the us is wary of russias growing influence in europe. For more im joined by claudia conferred the face of Energy Economics and sustainability of the German Institute for Economic Research good to have you with us please expl
Donald trump orders in and to hong kongs special status well signing legislation to sanction chinese officials. Beijing vows to take strong countermeasures. Earnings season continues. In the united states, Goldman Sachs reports after jp morgan, citigroup, and wells fargo set aside almost 28 billion for bad loans in the Second Quarter. Welcome to the program. Just under an hour away from the start of the cash equity trading day, lets have a look at futures. We do have a lot to talk about when it comes to the Banking Sector and the bad debt story in the u. S. All of that was quite dominant in yesterdays session, but we do have some catch up to play in the europe in europe. Plus, we work in the latest trial data from moderna over in the u. S. That particular vaccine getting some headlines. As a result of that, we see that lifting stocks in asia and futures in europe and the united states. Lets get to some breaking news. Some numbers coming through from burberry. Lets get to those in the f