Terrible composite pmis from the region. Oil continuing that recordbreaking rally yesterday. Some delegates a little bit more optimistic about getting deals done. Now i want to update you on our top stories from our new york team. We want to begin with europe. Thentioned the economies in slump of unprecedented scale, pointing to a contraction of about 10 . Bloombergs Michael Mckee joins us with more. Good morning, mike. Michael we are getting to the point where Economic Data are almost irrelevant to investors. Yeah, it is terrible. We know that. Weve traded it. Thats why you are not seeing a huge reaction in equity markets in europe because it was largely expected. It is sort of exactly what you think wouldve happened. Services pmis and composite pmis just falling off a cliff. The story in spain and italy there, but also france and germany. Those economies have basically shut down. Economists try to put a number on what that means, and that is where you get that 10 contraction figure,
Economists were expecting at least a 4 . Property investment is a sore point, still eight. 5 down. Worse still 8. 5 down. A slight pickup in the jobless rate. I cannot seem to find a be. It seems like a miss across the board on activity numbers coming through. We are still waiting on some other numbers. In some ways we thought this would be soft but not this soft but the rate cuts in the seven day. Markets are not really reacting as much. Yvonne currency continues to be something traders are ignoring, pboc fixes given the pressures we are sitting on the currencies. Yields are taken higher globally. We could be seeing a scenario of 754 china but looking at how markets do say were seeing slight declines so taking it in stride right now. Maybe a cushion in markets in terms of sentiment. The retail sales print is the lowest we have seen since last december. National bureau of statistics should start their press briefing to give more context. And we have helen chow out of bank of america. W
The power is out on the country. Its a Black Mountain like, oh this, it was a little lock outs. Are serious. We hope they never happen, but they could my boss, the income, the its a blackout. How say you over not you, are you for a long time, more and more people in germany fee of this, Alexander Holland house and that has no fits. He sells backup generations. Demand has been growing. And not just since the start of the war, new crying we get from life. Its why im going to states in the past 2 years. This has been increasing steadily. But in the past few months, its going up shop late on the growth of more than a 100 percent. The demand is definitely that compared to the previous year, its going up by more than 100 percent. And which the who are the people that are worried about such horace scenarios. So we said thats preparing for a complete collapse. The Electricity Supply vehicle has been signed up into yachts is all into nima. Weve got the dentist, the veterinarian and company. I k
With Nuclear Weapons, we are not the only ones talking about it today, my name is iryna sisak, and we are starting. A drone attacked the gasprom naftohim Salavat Oil Refinery in beshkyria, russia. This was announced by the head of the republic, radii khabirov. As a result of the attack, a fire broke out, Emergency Special services went to the enterprise. Now, according to khabirov, the plant is working normally, the source informed. Svoboda reported that the drone belonged to the Security Service of ukraine and set a historical range record. It was a security drone that set an alltime record by covering a distance of 1,500 km the sbu once again proved that it has powerful Technological Solutions that help deliver painful blows to the enemy. And i will note that the city of salavat is located approximately 1,500 km from the ukrainian border, the oil refinery itself is there. One of the largest oil refining and petrochemical production complexes in russia, which specializes in the produc
The next sixty minutes. In syria captures the moment a suspected russian ass strike hits a camp where families are sheltering. They sound another scandal which began in a Dairy Factory in france spreads to more than eighty countries. Also marking seven years since the arab spring into this year we look at why the same issues are still getting people out onto the streets. The good old. Times you know and why the legend of johnny cash lives on in some of americas toughest prisons. Welcome to the news i could have your company sustained attacks by Syrian Government forces helped by russian air strikes are continuing against rebel held areas pushed into the provinces causing a new wave of people to flee the violence about one hundred twenty thousand people have been forced from their homes in recent weeks but rather than finding places of sanctuary many continue to face danger. No law. Well i dont know what to do yeah. I know the feet are feeling. Very good you know law. But look at me. An