Cash trade is less than an hour away. Here are your top headlines. Republicans unveil a 1 trillion aid package to bolster the u. S. Economy. More direct payments to americans and Liability Protection for businesses. Keeping the borders close. Bloomberg learns the eu is set barriers to travelers outside the block amid rising virus infection rates in spain and germany. Plus, better than bad expectations. Michelin reports operating profit at the highend of estimates despite swinging to a net loss. The delivery here was one of the big delivery hero is one of the big winners. Dont miss our interviews in this program today. We are seeing the ecb, breaking news. The ecb asking european banks to freeze dividends. You can always get the latest ecb headlines on your terminal. Type ecb go for a great dashboard. The ecb is saying it wants european banks to freeze dividends for the rest of 2020. The remaining four months of the is saying ite ecb least not pay at dividends until january 2021. There
For the Global Economy moving forward well bring you indepth analysis we have a packed show today so lets dive right in. And we lead the program with Economic Data out of the worlds 2 largest economies as the globe continues to grapple with the copen 1000. 00 pandemic lets start in china officials are reporting the countrys g. D. P. Grew by 3. 2 percent in the 2nd quarter of 2020 compared to the same period last year now the Economic Growth was a sharp rebound after the worlds 2nd largest economy contract by 6. 8 percent year over year for the 1st quarter of this year now china was the 1st nation worldwide to start lock downs and stay at home orders in january but most restrictions have since been eased more positive data came as industrial output jumped 4. 8 percent year over year for the month of june better than initial estimates from economists now some experts see these data points as a sign of an economic recovery for china however retail sales fell by 1. 8 percent. For the month
Its worst 2nd quarter period on record for the previous worst quarter contraction with a 10 percent drop during the Eisenhower Administration in 1958 but these records dont date back to the Great Depression while hopes one day old on that v. Shaped recovery is Consumer Spending which actually accounts for about 70 percent of Economic Activity it brought down the g. D. P. On wednesday the Federal Reserve chairman powell warned of the lasting damage to the economy of this expectation. Even with the improve Economic News in may and june overall activity remains well below its level before the pandemic and the contract contraction in real g. D. P. In the 2nd quarter will likely be the largest on record. Now this comes as republicans and democrats are working on the one trillion dollar relief package on a looming friday deadline but it appears lawmakers are far from an agreement and they continue to clash during the stalled negotiations. 20 team boeing has had one disaster after another wel
Plunged 32. 9 percent on an annual basis in the april through june quarter this is its worst 2nd quarter period on record for the previous worst quarter contraction with a 10 percent drop during the Eisenhower Administration in 1958 but these records dont date back to the Great Depression while hopes when told on that v. Shaped recovery is Consumer Spending which actually accounts for about 70 percent of Economic Activity it brought down the g. D. P. On wednesday the Federal Reserve chairman powell warned of the lasting damage to the economy of this expectation. Even with the improve Economic News in may and june overall activity remains well below its level before the pandemic and the contract contraction in real g. D. P. In the 2nd quarter will likely be the largest on record. Now this comes as republicans and democrats are working on the one trillion. All a relief package on a looming friday deadline but it appears lawmakers are far from an agreement and they continue to clash durin
A primary focus for those discussions we have a tough so today so lets go and dive right a. Big stimulus this week as the g. O. P. Rolled out their new one trillion dollar Coronavirus Relief package bill on monday Senate Majority leader Mitch Mcconnell unveiled that plan dubbed the heels are. We manage Senate Republicans ministration have been consulting over the last few weeks to come up with a realistic proposal. With what we think is an appropriate amount of Additional Debt to be good to the economy at this time. We think it is about a trillion dollars. And weve allocated it in a way that we think makes the most. For the country at this particular time. Already theres a split between Senate Republicans on the bill but next come to go sheesh and what the democrats this is ahead of some looming deadlines all Senate Minority leader Chuck Schumer called the relief package totally inadequate perhaps the most controversial is the unemployment a that runs out on friday and Unemployment Ins