China is experiencing a rare episode of sliding prices. Japans economy experienced this back in the 1990s and early 2000s. Now, this comes hot the heels of disappointing china trade data on tuesday, which showed that exports sank at their fastest rate since the pandemic, dropping by more 14 in the year tojuly, with imports also falling by more than 12 in the same period. Joining me now is duncan wrigley, Chief China Economist at pantheon macroeconomics. Thank you very much for being with us today. The Rest Of The World looking on in amazement. Considering the inflationary pressures the rest of us are dealing with. What do you read Between The Lines in this latest data . Between the lines in this latest data . Latest data . Ok, i mean, there are some latest data . Ok, i mean, there are some shortterm latest data . Ok, i mean, there are some shortterm factors i are some short term factors that push down the data for this month, there has been a surge of seasonal vegetables, the big pictu
Shares in Goldman Sachs fell 2 . The catalyst was moodys, downgrading the Credit Rating on several small and medium sized us banks, including mnt bank and pinnacle financial. The red flags raised by the Ratings Agency included a potential recession, as well as problems tied to the commercial real estate sector. As one analyst put it, any doubts about regional banking is bad for market sentiment. That wasnt helped by data from new york federal reserve, which showed that for the first time, americans owed more than 1 trillion on their credit cards. Traders have also been focused on corporate results, which so far have been better than expected. That was true for lyft, which reported results after the us market closed. Uber s small arrival is forecasting higher revenue in the Third Quarter based in part on a post pandemic rebound in ridesharing. Meanwhile, Electric Vehicle maker rivium posted a narrower lost than expeted and raised its Production Guidance for the full year. Meanwhile, Nin
wanted by the international criminal court for alleged war crimes. but could he actually be taken into custody? former u.s. president donald trump s legal troubles could come to a head quickly. a new york grand jury may indict him as soon as next week. and hundreds of people detained across france following fiery protests. that after the government pushes through a controversial pension reform plan. announcer: live from cnn center, this is cnn newsroom with laila harrak. the u.s. president is voicing support for a historic decision by the international criminal court against russia s leader. joe biden says the icc had good reason to issue an arrest warrant for vladimir putin over alleged war crimes in ukraine. well, i think it s justified, but the question is it s not recognized internationally by us either. but i think it makes a very strong point. the icc on friday says mr. putin bears responsibility for an alleged scheme to illegally deport thousands of child
aircraft. you can see the breadth of the areas hit. president vladimir putin, the russian leader, threatened further harsh responses. this is following a huge explosion over the weekend on a strategic bridge between crimea, illegally annexed in 2014 by putin and mainland russia. and moments before the attacks in ukraine, duelling in the united nations general assembly where delicates are expected to vote on the annexed regions in ukraine. met with silence while the ukraine ambassador received applause after saying this translator: but my day has started almost 14 hours ago. we started 14 hours ago, because my country was under attack. my immediate family was in a residential building under attack unable to go to a bomb shelter, because there was no because russia has already killed some of my family members, and we see no end to that cruelty. in a rare public appearance today the top british intelligence officer sir jeremy fleming is expected to say exhausted rus
we will look at taiwan in the moment and the implications of nancy pelosi s trip there. we start with oil and the impact high prices is having on the global economy. nearly every country is struggling with the climbing cost of oil and gas as it fuels inflation and households struggle to pay bills so much so that president biden visited saudi arabia last month to persuade the major oil producer to increase supply and cool soaring prices. saudi arabia meets today with the other members of opec plus to decide on their next move. our middle east business correspondent sameer hashmi has more. another opec plus meeting but this one is a crucial one that comes with them if as of august producing the same amount you are back most members of opec plus in the uae only to members which have limited spare capacity. that boils down to them whether they will be able to boost production substantially to balance the market and bring down oil prices. it s very unlikely they are going to mak