Travel restrictions feeling a little blow to the tourism industry. Im melissa chan welcome to news asia thank you for joining us exactly one week before possibly the most consequential u. S. Election secretary of state mike pompei own defense secretary mark esper has flown to india to meet with their counterparts its almost as if theyre running against the clock rolling out as much of their age policy in case their boss President Donald Trump loses the election india has signed a military agreement with the u. S. To share sensitive satellite information and the 2 will participate in naval exercises next month those are war games along with australia and japan all members of the quad a partnership of india pacific democracies. Joining us is korea mohan of the German Marshall Fund for more agreement pump ale and esper are in india but this is as much about china isnt it absolutely so this meeting comes in the backdrop of chinese aggression at indias border region which shows no signs of
Melissa chan welcome to news asia thank you for joining us exactly one week before possibly the most consequential u. S. Election secretary of state mike pompei own defense secretary mark esper has flown to india to meet with their counterparts its almost as if theyre running against the clock rolling out as much of their age policy in case their boss President Donald Trump loses the election india has signed a military agreement with the u. S. To share sensitive satellite information and the 2 will participate in naval exercises next month those are war games along with australia and japan all members of the quad a partnership of india pacific democracies. Joining us is korea mohan of the German Marshall Fund for more agreement pump aoe and the esper are in india but this is as much about china isnt it. Absolutely so this meeting comes in the backdrop of chinese aggression at indias border region which shows no signs of abating it also comes in the middle of the coronavirus pandemic t
He c. E. O. Of verizon, Hans Vestberg as we proceed throughout the hour. Francine european economies are starting to claw their way out of recession and we had encouraging p. P. I. Physician and the confident p. M. I. Jumped to 54. 8 with the services and manufacturing sectors expanding. Joining us now from paris is william, the Bnp Paribas Group chief economist. It feels like this was a good week for europe. We have the p. M. I. More than expected and the Recovery Fund. If you look at job losses theyre going to get ugly in europe. William that is a concern i have if you look at the p. M. I. Data today. What strike is that yes, manufacturing significantly and new export levels in germany are just flying but the employment series is showing that companies are under no intention whatsoever to increase hiring and on the contrary. Thats a concern. Its a concern because the recovery will depend on what households do, how much they spend and they need confidence. Alix what is going to give t
Tiff movement for 2021 we also see clearly the paces coming in for the third and Fourth Quarter in reverse, the volkswagen numbers fall Retail Therapy shares in the dutch super market giant jump to the top after earnings rise almost 80 in the Second Quarter on the lockdown spending the death toll rises after a massive explosion. President trump suggesting the blast could have been intentional. Our prayers go out to all the families the United States stands with the people of lebanon and well be there to help it looks like a terrible attack. Lets kick off the show with fresh data just crossing the wires. This is the final composite pmi that has come in at 54. 9 that is a touch better than 54. 8, a little color for you on the numbers for july Services Come in at 54. 7 that was a little light. The suppressing strength has come from the Manufacturing Sector which we got earlier this week in terms of the commentary which provides this data, Business Activity rebounded to grow at a rate not
India may miss growth targets as the virus cripples the outlook. Intel plunged after its new chip reduction process was delayed again. The company is under pressure as customers increasingly turn to rivals for chips. We are just getting pmi data out of australia crossing the bloomberg. The pmi actually rising to a record high in july. This is a preliminary number for services coming in at 58. 5. Manufacturing pmi also higher, 53. 4 from 51. 2. Composite at 57. 9. A big jump from the 52. 7 in the previous reading. That returnecting to some semblance of normality as part of australia exit the stricter lockdown. Going forward will be key given we are seeing a fresh sixweek lockdown from victoria. Lets take a look at how we are setting up this friday session. U. S. Stocks falling to the lowest in about a week after unexpectedly high jobless claims rekindling worries of the economic recovery stalling. We are seeing more recovery when it comes to trading in futures contracts come up about. 2