Francine welcome to the pulse. I am francine lacqua. Manus i am manus cranny. Next 40 course of the minutes, we are joined by unicredit chief, it is erik nilsson in the house. Francine first, china stocks posted the biggest two day climb. Manus it rallied on news the government is considering shipping two major companies. Francine after data shows a large drop in it worse last month with the steepest decline in nearly six years. Curranef economist enda joins us. What do the figures tell us about economy . Enda curran a very soft reading. Some of chinas biggest customers. Illustrate how soft chinas economy is when you strip away the impact of the big stockmarket boom we had in the second quarter. Left with a lot of sluggish areas like manufacturing and factories and real estate sector. Car sales falling for the first time in 17 years. To one ofn on exports the big engines of growth for china. Into the second half of the year, pretty sluggish outlook right now. Manus lets talk about the
Hey, tony, we heard from one tribal source today who put it bluntly. He said theyre keeping all of their Legal Options open. And if they have to go to court, they will have a good case. Theyre not the only ones with the options. Utah, new mexico and colorado, they are keeping their option open too. But those are the longterm issues, and the shortterm issues are all about water, availability and priority. Gina mccarthy continues her trip since the spill in the animas river. She traveled with russell mcbay and other leaders, and said that they have a good working relationship, despite navajo threats to sue over the spill. And you know epa is not unfamiliar with litigation, but none that have tone was in the discussion this morning, and we hope to build a relationship with the new president , and we expend a lot of time talking about next steps. They are full partners right now in terms of being able to sample reporter people who depend on the river for irrigation and livestock have been
The rest of europe is open, today. It is lower, falling on the stronger euro, the highest level against the dollar since january 2015. 77 use of the u. K. Holiday, below the the french Advertising Company confirmed the industry slowdown which was signaled by wpp last week abandoning its forecast, clients pulled back agencies slashing spending and prices. The chief executive officer joining wpp inciting a slew of problems affecting the industry, from declining investment by clients, economic downturn in higher Growth Markets and hard bargaining as agencies fight for business. Ad Companies Worldwide are being hit. Shares are little changed on the day. The euro against the dollar rising to its highest level since january 2015. The euro is on such a carrot the moment that it took nothing at all on friday from the likes of mariota johnny mario draghi to drive it to its biggest gain this quarter. The concern Going Forward is it may take precisely nothing again to bring the euro back down. Bu
Refiners are facing a renewed threat to their production. Good morning to you, yvonne. Ye on japan e and korea. Trade was focused on Hurricane Harvey. I want to bring up a function. Are hurr you at the red dot, showing some of the refineries that have been closed. You can see that there are more red than blues. The reds meaning the refineries that have been shut down. That has left the markets uncertain today, particularly as this destruction is only going to get worse. The flooding is supposed to peak on wednesday and thursday, so this is not over yet. This is going to be the entire week the houston area will be dealing with the devastation. It seems like it has reignited the storm and flooding , moving over to the louisiana side. Definitely, our hearts go out to everybody in the u. S. We had to take a look at the headlines. In the last 90 minutes or so, north korea, firing this missile. Up and over japan, a little bit more serious given the fact that it has flown over japanese airspa
Facebook said to offer hundreds of millions of dollars to allow users to pay for play. Betty welcome to daybreak asia , i am betty liu at bloombergs Global Headquarters in new york. Yvonne i am yvonne man out of seoul this wednesday morning. Appear in south korea, we are watching what is happening about 30 something miles away from seoul. Our neighbors to the north, so to speak. For the markets, it has been a perfect storm. For not only what is happening in pyongyang, but the hurricane heading to the u. S. Amid debt concerns. Betty we are putting out fires left and right. That was reflected in the markets today. Lets pull up the board. We opened up after the long Labor Day Weekend and went straight down. You can see the dow closing off 234 points. The nasdaq taking it on the chin, as well as the s p. Selling across the board. Asia, whiching into had been reacting the past several sessions this week to the north korean headlines. Lets bring up new zealand, which is just opening up, down