Unprecedented disruption the swiss luxury giant flags a strong recovery in china heineken trades lower as the beer maker plunges prompting the group to intensify cost cuts. In frankfurt, the ecb faces a crucial test will look to prove that it has more fire power needed we bring you more coverage to this runup to decision time. The chinese stock markets plunged into the close despite encouraging growth data. Shanghai composite 4. 5 lower. Marking the worst daily performance in each index since february the china gdp grew rebounding from the First Quarter recession as they use the lockdown and First Quarter stimulus more on the chinese data. A bounce back from growth from q 2 after strict lockdowns and travel restrictions and some of that stimulus kicked in if you look at that key data for the month of june, industrial output lead to the recovery and third output growth of 4. 8 suggesting demand is improving fixed asset improvement fell 4. 81 . Also better than expectations and retail sa
With a video connection please keep your camera on. If you go to another proceeding please exit this one on we will recognize each member in the time slot provided during the preceding. And with the next appropriate spot for the remainder of their time once the issues have been resolved. During testimony as staff address the technical issues. I may need to recess the proceedings for the witness to reconnect and finally remember to be muted until you are recognized to minimize the background noise. The House Resolution 965 if there is too much background noise should a member want to be recognize they must unmute themselves at the appropriate time. We are also following the health and safety guidelines issues that include social distancing we urge members on staff to where a mask at all times and thank you for your commitment to a safe environment for all who are here today. Last night on the eve of the date the Paycheck Protection Program expires the Senate Passes a bill from the incep
With a video connection please keep your camera on. If you go to another proceeding please exit this one on we will recognize each member in the time slot provided during the preceding. And with the next appropriate spot for the remainder of their time once the issues have been resolved. During testimony as staff address the technical issues. I may need to recess the proceedings for the witness to reconnect and finally remember to be muted until you are recognized to minimize the background noise. The House Resolution 965 if there is too much background noise should a member want to be recognize they must unmute themselves at the appropriate time. We are also following the health and safety guidelines issues that include social distancing we urge members on staff to where a mask at all times and thank you for your commitment to a safe environment for all who are here today. Last night on the eve of the date the Paycheck Protection Program expires the Senate Passes a bill from the incep
Fair, orderly and efficient markets; and facilitate capital formation. It plays a Critical Role in ensuring that our nation has Capital Markets that the public can have confidence and trust in. It provides information to investors so that as americans prepare for their futures, they not only have a wide array of financial opportunities, but they also have the information necessary to make informed investment decisions. Chairman clayton, you came before this committee a year ago and assured us that you would continue to take steps to ensure that the u. S. Capital markets remain the deepest, most dynamic and liquid in the world. I commend you and the sec staff for the actions that have been taken over the past year. Actions worth mentioning include the secs final rule package on regulation best interest, which strikes the appropriate balance of increasing transparency in investors relationships, while preserving access to advice relationships and investment products. The sec also propose
And Exchange Commission chairman jay clayton regarding the work and agenda of the s. E. C. I thank you for your willingness to appear before the committee today, mr. Clayton, your willingness to testify is essential to our oversight much the s. E. C. The mission of the s. E. C. Is to protect investors, maintain fair, orderly and sufficient markets and facilitate capital formation. It plays a Critical Role in ensuring our nation has Capital Markets that the public can have confidence and trust in. It provides information to investors so as americans prepare for their futures, they may not only have a wide variety of financial opportunities, but they also have the information necessary to make informed investment decisions. Chairman clay torngs you came before this committee a year ago and assured us you would continue to take steps to ensure that the u. S. Capital markets remain the deepest, moshgt dynamic and liquid in the world. I commend you and the s. E. C. Staff for actions taken o