Chinas factory deflation deepens in may with Producer Prices falling the fastest in over four years. A surpriseower in jump of u. S. Inventory. Manus its just gone 6 00 a. M. In london. It is seven in frankfurt. The seat of the latest breaking news story about banking. Capital. Erberus a five page letter. This is the language that is being used. You got the same story in front of you. An abject failure to take appropriate actions and the refusal of management and the Supervisory Board to acknowledge the seriousness of the situation. Good morning. Nejra good morning. Exactly. Basically, the letter talks about commerzbank suffering from leadership, lax resolve to slash a bloated cost base. This is according to bloomberg news. That raises the possibility of a shareholder revolt if the bank refuses to appoint its representative. This demand is likely to be a topic of the Supervisory Board meeting wednesday according to a person familiar. What else has caught your eye in terms of what we le
And even bigger move at the front end of the italian, and the euro as well bouncing. Up by another 1 . Basically is really intensifying its response to the covid19 crisis and the Economic Impact that it is having on the global economy. Christine lagarde delivering that 600 billion and extending the benefits put forward by the governing council over the last few weeks, making them last a little bit longer. Lets listen to what she has to say. We judged that it was necessary to increase the price and i can assure you that there view and theus governing council that action had to be taken. In the face of that inflation outlook, and given our mandated price ability, action had to be taken. How big a day was it for europe . That ecb decision and Angela Merkel, bob diamond, Capital Funding partner and ceo, joining us now. What do you make of what Christine Lagarde has done, what do you make of what Angela Merkel has done . How big of an impact will it have on the european economy . Fromch a s
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