Budget set to be outlined in parliament today. Tesla takes the trade war in its own hands. Suing the u. S. Government and Robert Lighthizer over the tariffs over imports from china. A warm welcome lets kick off the show with fresh numbers out of germany the Business Climate for the eve owe since september has come in a touch light. Current conditions 89. 2 for spent versus 89. 5. So just a touch light of expectations in terms of the expectations component, came in at 97. 7 versus forecast of 98. Slightly weaker but generally similar to what was expected the august numbers have also been revised we have the Expectations Index at 97. 2. These september figures and the forward looking part of this index has come in at 97. 7 for the month of september as business morale rises. This comes after data yesterday. The pmi flash for september showing that manufacturing in germany continuing to improve. Services contracted. Dropping below the 50 Mark Services trends in the economy we are going to
Progress on u. S. china trade talk as the worlds biggest economies discuss technologies consumption, investments and exports fall sharply during the height of the pandemic President Trump accepts the Republican Party nomination taking aim at the democrats accusing them of, quote, trying to steal the election. We have to be very, very careful. This time they are going to try to do it in the whole post office scam. You can see them setting it up watch them carefully we have to win this is the most important election in the history of our country. Some breaking news coming out of germany this morning. From the eve o from t from the ifo data. 92 92. 6 versus the forecast of 92. 2 you may recall back in april when we saw many lockdowns the data started to cross then and we are seeing recovery in those numbers. The ifo Current Conditions is 87. 9 in august forecast was lower and what we are also seeing in the ifo Expectations Index is up to 97. 5 in august versus a forecast of 98 so slightly
The german chancellor says the cost are two great. 00 too great. Good morning, everyone. This is bloomberg surveillance. I am Francine Lacqua here in london. This is what markets are focusing on, partly what Angela Merkels, partly Emmanuel Macron. Let me go through the impact heavy on the markets. Areou look at stocks, they really fluctuating after data from the economies here in europe, and that is really costing casting doubt on the resurgence virus infection. We have french manufacturing unexpectedly contracting in august. Highlighting the need for further stimulus. I am also looking at offshore to extend less than six months, seven months, actually, when china market from the pandemic became one of the worlds fastest. This is what we are getting in terms of pmi out of the eurozone, expectations or certainly there in mind with what we were expecting. Barring 50. 1. Coming up later, everything you need to know about Exchange Traded funds. Iq europe is back. Exchange data funds. Pmi w
Mind blowing. Reporter grind bartfelt said when he first heard about the fire this morning, he had no idea how bath it would be until 4th arrived on scene. High heart sunk add i saw our building up in flames when i turned the corner. Reporter he building where his family started the business more than 70 years ago appears to be a complete loss. While he hopes insurance will allow them to carry on, right now he says its simply too early to say. When the dust clears, the smoke clears, so to speak, you know, what the obviously big time damage, you know, well cross that bridge when we get to it. Reporter and lieutenant Jonathan Baxter from San Francisco fire is on scene briefing us with the latest developments. Well go to that live right now. That firefighter has recent by released from the Trauma Center and is going to be okay. We have the three displaced residents, as well as an unaccounted number of employees from the established businesses that are affected from this fire. Our Fire Dep
British Education Company sells its final stake in random house and ceo announces his retirement and fedex share another profit warning site significant challenges and changes well, good morning. We have a very busy show for you today. I want to get you to some german data lets break it down for you. We know p german business moral has risen in december. That is one positive for the current condition that has come in at 98. 8 higher than the estimate of 98. 1 the Expectations Index coming in higher than the forecast today at 93. 8 versus expectations of 93 Business Climate index was revised to 95. 1. The current index was revised to 98. 8 as well it appears to the upward revisions. The numbers for the month of december are coming in higher than expectations going into today. Worth mentioning that we did have the ifo a while back saying the german industry does remain caught in a session. Because the Manufacturing Sector does remain flagged. Not the least procured by the trade war. That