Contraction for the australian economy. Worse than anticipated, but investors with a moment shrugging that off. Chinese markets under pressure. Quickly moving it along, having a look at what else is going on out there and doing that, of yvonne. With yvonne lets start with that aussie gdp number. The second consecutive quarter for the three months through june. And thee first first technical recession in 30 years for us trail you Australian Household spending well by 12 as lockdowns and restrictions shut out consumers. The aussie dollar against its u. S. Peers. Theres a new warning about the u. S. Economy with a fed governor ating there is uncertainty head. She told the Brookings Institution that america will be to depend on the fed and policymakers in d. C. As the economy continues to recover from the coronavirus pandemic. She says Monetary Policy must pivot from stabilization to accommodation. Treasury secretary seems to agree with the fed governor, saying the u. S. Economy urgently n
It will probably unfortunately get worse before it gets better so they go to like saying. Also this hour a steroids with an lifesaving boost a drug being tested in britain thats being hailed as a breakthrough treatment folk over 1000 patients. About people stand with the sports the n. F. L. Agrees to scrap the 20 to 20 preseason games as another 50000000 play is based positive coronavirus. Thank you very much for joining us a vote is expected in the coming hours that will give israels government new power to impose coronavirus restrictions across the country the move comes as protests grow louder against Prime Minister Benjamin Netanyahu as handling of the pandemic thousands of demonstrators have been arrested after chaining themselves together and blocking people from entering part of ent in west jerusalem harry fossett. Reports. Benjamin netanyahu has weathered protests before socalled black flag activists have waged a years Long Campaign against what they call his anti democratic ru
And violence in west jerusalem as thousands of protesters call on the israeli Prime Minister to resign over corruption charges and his handling of the pandemic and ethiopia says heavy rains have begun filling his controversial dam on the blue nile as the government continues to negotiate with its neighbors egypt and saddam. With the sport b. N. F. L. Agrees to scrap the 2020 preseason games as another 95. 00 players taste positive for corona virus. Thank you very much for joining as we begin with the growing tension between the United States and china the u. S. Government has ordered beijing to close its consulate in the city of houston in texas saying its a way to. Protect American Intellectual property a spokesman for the Chinese Foreign ministry has denied media reports that stuff at the consulate had been burning documents inside the building and is accuse the u. S. Of violating International Law in response china is threatening to close the american consulate in war and has warned
And his handling of the pandemic. And the steroids with a lifesaving boost the drug being tested in britain has been held as a breakthrough treatment for covert 1000 patients. Welcome to the program theyve exchanged threats and criticism over covert 19 trade and the South China Sea now the diplomatic war between china and the us has a new front china has been given 72 hours to shut its cultural or office in the city of houston the u. S. Says the move is to protect American Intellectual property and it comes after firefighters in the city were denied entry to the Office Following reports that staff were burning documents that Chinas Foreign Ministry denies that accusing the u. S. Of violating International Law and its war Chinese Students in the u. S. To be on guard for what it calls arbitrary interrogations this was u. S. Secretary of state might pump a is speaking in denmark. Were not going to allow this to continue to happen where they have seen the remarks that nashiri advisor brian
Going on the president announces a travel ban but the lack in detail and large scale coordination is rattling the markets on the legislative side, theres little agreement on how u to move forward on any relief and just this afternoon, the fed announced a massive injection of liquidity into the market. It briefly shocked stocks higher but now weve drifted back down towards the lows o the day a number of big interviews this afternoon. Jack lew on the economic response cmes ceo, terror ki duffey on ty and ben is the former ceo of sprint currently sits on board of jet blue hell join us to discuss the pain thats being felt in the travel sector, and zoe, does it hurt we are all over this massive market sell off. Charlie from Ariel Investments is with us for the hoyer hour. Meg is tracking all the new details on this coronavirus outbreak and elan is in washington with the latest on the house stimulus vote. First, the new york fed just announcing that massive liquidity injection. Cnbcs senior