Chancellor unveils his 30 billion pound stimulus package. We will get reaction from the labour party, his counterpart joining us shortly. Life aliveds london, sitting in for francine in the early part of the program. The london market is the real laggard. Well. X in germany going s. A. P. s numbers certainly a big weight in the dax and a big help in those efforts. We do see a little bit of stalling in the risk on moves. We see some of the oil price moves, down by. 7 . Checking ino worth on. Angela merkel in brussels calling for a huge amount of cooperation needed to save europe from its current challenges. Lets get a first word news update. Morning. Global coronavirus cases have exceeded 12 million with the u. S. Now counting for more than a quarter of confirmed infections worldwide. California and texas are reporting a surge in cases. Says the fed president renewed threat is adding to pressure facing the economy. She says these numbers are troubling. Australia is suspending its extrad
Coronavirus cases top 12 million. Vice president pence says schools should reopen. Raphael bostic warrants about the hit to Consumer Sentiment. Stock market frenzy pushes the shanghai composite to its highest level since 2008. Thats after mega cap tech took the nasdaq to another record overnight in the u. S. Recovervenue begins to from the pandemic fuel slowdown as your europes Technology Company sees a bounceback and Software Deals throughout asia. Just under one hour away from the start of cash equity trading in europe. Lets take a look at where futures are pointing us right now. Ftse futures up about. 6 . Take a look at u. S. Futures. They have been down though only slightly. Anna, what have you got . Anna lets have a look at breaking news. Numbers coming out from rollsroyce. The engineering business, the engine maker here in the u. K. Giving us details for Free Cash Flow and cost medication action. They themselves are taking it. One billion pounds for cost mitigation action for 202
And we will get to some questions before we wrap up the conversation. Jake the question we are asking is what should congress be doing to respond to the National Unrest and ongoing protest against racial injustice, and why. You can type your answer in the box under the livestream at politico. Com. At the end of the interview we will check out your responses. We will talk about a few things we are watching this week, and number one is the state of Police Reform. We made the point this morning that we could be surprised in the next coming weeks and months that Police Reform could pick up momentum. There are hopeful signs from republicans who believe that congress should ban chokehold, and beef up statutes that allow for to escape liability some of their actions on the beat and force. Frankly, i think a lot of politicians right now have reached a moment where they believe that there has been a National Reckoning on Police Violence and racially targeted Police Violence. I think it will be
Peacefully protest following the death of george floyd, who was killed while in Police Custody in minneapolis. Governor murphy announced the state is lifting its stayathome order, which has been in place since midmarch, following this event. On coauthor of the politico playbook, joint by my colleague joined by my colleague, and not, with new jersey governor phil murphy, to talk about the handling of the coronavirus pandemic, how the states opening, and what assistance he would like from the federal government. This is part of a new playbook series which will bring viewers behind the scenes with leaders of congress, the white house, business executives, but the new world order and bringing forth ideas to help america course correct ahead of the election. Just a reminder, if you have questions, you can tweet litico live with the politico. We want to hear from you who are watching on political. Com. The question, what should congress be doing to respond to the protests against racial just
Business confidence. The First Quarter was fine, but indicators for the Second Quarter are less strong. I do not see people cutting back existing plans, but they are not leaning forward in the way you might. Anna along for the ride, vw is nvest in ford, valuing it at 7 billion. Tropical storm barry heads for the louisiana, curbing oil out ports. Markets, welcome to the European Market open. 29 minutes into the start of it trading day. This is what the futures story looks like. Ftse futures, cap teachers pointing high cac futures looki. The session in asia is more mixed. The trade story and the impact on asian economies already. President trump tweeting about being disappointed in china and the lack of imports by the chinese. The dyer numbers out of singapore in terms of gdp. Town more than 3 . Much in focus, and the market focused on the inflation story and what the fed will do about Interest Rate. Yesterday the inflation number was higher than expected. A couple fed officials appeared