Covid19 own Macro Economic Development Going forward. I in leary, we should expect lower Going Forward. Ab in bef shares up. Vw slashes its dividend after posting the first half operating loss and renault posts a loss and says it is impossible to give any guidance. Astrazeneca rallies as Second Quarter sales top forecast the ceo says he expects to benefit from the Covid Vaccine this is a business that is redirect examinatio resilient. Weve managed the crisis well. Patients are returning to physicians a very warm welcome to street signs. Now on the gdp front, german adjusted preliminary gdp the calendar adjusted q2 number down 11. 7 slightly worse than the 11. 3 forecast the sharpest decline from 1970 the calendar adjusted level, 11. 7 versus 11. 3 predicted the rebound in that data, the pmis came in growth territory but still q2, a very severe decline. Lets bring in annette who knows more about the German Economy than i do. The 11. 7 drop in gdp. Exactly it is worse than expected but t
Off. It was a busy earnings day dominated by corporate news. And we begin with something no one saw coming. Biotech firm biogen surprised investors when it said the experimental alzheimers treatment was ready for the Regulatory Approval press. As you may recall, seven months ago the company discontinued the study of the drug which some expected to be the next blockbuster. Analysts say the profit potential is huge because there are no current therapies to reverse affects of the disease. A disease affecting millions and projected to affect millions more in the years to come. The news sent smars of biogen 26 , the best oneday gain since 1996. But as meg tyrell reports while there is hope there is a long road ahead. It was a diagnosis you dont expect in the early0s. Jeff was only 51 when he was told he has early on set alzhmerss disease with no drugs approved to slow alzheimerss progression he enrolled in a Clinical Trial of an experimental drug made by biogen designed to attack the am man
Good thursday morning, welcome to squawk on the street. Im carl canton . Eua. News is solid and question is can johnson sell that to parliament as early as this weekend. Sterling has had a big mix Housing Starts disappoint. Our road map begins with netflix soaring despite the miss, the streaming giant warning that increasing competitive head winds could weigh on growth. It shows Morgan Stanley to be rallying, this on what looks like a strong quarterly result the banks cfo will join us this morning. As we said, futures rallying on new brexit hopes, uks parliament, approval, though, remains uncertain. Lets start with netflix subgrowth did mix. Rebounded to almost 6. 8 million thanks to International Strength on the earnings call, Reed Hastings did talk about the competition with disney and apple, set to launch their own services next month. Fundamentally there is not a big change here. It is interesting we see both apple and disney launching basically in the same week after 12 years of n
Can i think you and your team at the conservative Central Office for doing a fantastic job . Its been a team effort and shown the conservative family at its best. If i could make one plea as a backbencher, can we be kinder to the next Prime Minister then weve been to the current Prime Minister . [applause] without further delay, im going to hand you over to the one for cochair to the wonderful cochair of the committee. [applause] thank you very much, charles. On the 24th of may, the Prime Minister, the right honorable theresa may, announced that she would be standing down as leader of our party on the seventh of june. Over the past 46 days, the 1922 committee organized five ballots of members in parliament, and then worked with the Party Chairmen and Electoral Reform services to present the final two candidates. They are qualifying nubbers of the conservative and unionist parties that can vote for our new leader. I want to echo charles thanks to brandon, the party board, and the party
With a but of Dollar Strength of their in advance of the ecb on thursday. A quick look at u. S. Stocks, i huge day for earnings both good and not so good. Here we have some of the better ones, leading the s p 500 is hasbro, aladdin toys were very successful. After it is up 5. 6 Beat Estimates as well. Those stocks are higher now so you might think why isnt the s p doing even better than that . Still below 3000, but that is because some earnings stories were not so good. This is their worst performer in the s p 500. Guy getting back to our top story, Boris Johnson has won the race to lead the party and by extension become the next Prime Minister and he has made it clear what his top priority will be. Theres a mantra for the campaign the adjustment by case you have forgotten it. Deliver brexit, unite the country, and defeat jeremy corbyn. That is what we are going to do. Bit of insight now on what exactly is going to happen next, for that we are joined by our Bloomberg Government u. K. R