3000 jobs will be cut under bains new ownership. Bain capital ownership, which in addition to these details relating to jobs, we are also expecting to hear about aircraft fleet and the future as well, this after bain bought Virgin Australia in what is a pretty bold that on an industry that has been shattered by the travel restrictions and the coronavirus pandemic. Virgin australia committed to regional and charter flying. Of targetsindication and priorities when they are restructured in addition to 3000 jobs being cut. Also getting data out of australia. Manufacturing pmi, services as well as composite index coming through. Dropping from that preliminary number for july. The composite number of 67. 8 also a little bit weaker. The performance of Construction Index coming in at 42. 7, higher than 39. 5. Lets take a look at the aussie dollar. Largely to do with the situation in victoria. We have that renewed lockdown, stricter stage four restrictions. At this time, later on today and tomo
Slowing economy. Joining us for the hour, stephanie link great to have you. What do you make of this market right now . I have fatigue over trade i really do. Its impossible every day it changes. So im trying to ignore it and focus on fundamentals. Today i thought we got some good data on the economy. The philly fed better than expected vince were better than expected meaning he they went own maybe were bottoming. Lets see the flash pmis tomorrow existing home sales up 5 yearoveryear good consumer, lets talk retail earnings have been very good Minus Department stores and some one office. I think that bodes very well for the consumer fatigue over trade but excitement over m and a. Very much so. Im still excited by trade. Im more excited about bristolmyers closed earlier than expected. Thats a great story for 2020. So theres a lot underneath the surface to this market of whats going on and thats what im trying to focus on versus trade. Lets get straight to that big story, the potential c
Above its all time high after last weeks major sell off. Falls to the bottom as th Worlds Largest miner delivers a strong full year profit and dividends but warns the u. S. China trade war is a major threat to growth and facebook and twitter call out china. The social media firm take action to block accounts they claim are being used in a beijing backed Propaganda Campaign against hong kong protestors well, our top story today, italian Prime Minister is to address the senate later in a speech that could spell the end of his government. The far right party is looking to table a no confidence motion in an attempt to bring an end to its coalition in the movement and force a snap election. Meanwhile, the leader says a 50 billion euro budget is necessary next year to bring about a quote, shock fiscal stimulus so that seems to be the operative word over the last couple of sessions modest in italy and germany and in the context of the u. S. Overnight as well. But lets focus on whats happening
Nerves inside paralysed peoples bodies are rewired to give movement to their arms and hands. And after his victory in the mens doubles at wimbledon last night, andy murray is back in action in the mixed doubles today this time with serena wiliams. Good morning, and welcome to the bbc news at nine. The british car manufacturer Jaguar Land Rover has announced it is investing hundreds of millions of pounds to build electric vehicles at its Castle Bromwich plant in birmingham. Its a boost to the industry after a series of setbacks in recent months. Initially the plant will produce an electric version of the jaguar xj. Jlr says the move will help secure the jobs of 2,700 workers at the plant. The business secretary greg clark said the announcement was a vote of confidence in the uk Automotive Industry protecting thousands of skilled jobs at Castle Bromwich. Lets get more on this now from theo leggett, our Business Correspondent whos atjlrs Castle Bromwich plant for us. Hugely good news morn
Reportedly approached 21st century fox to buy all or parts of the company lets get to Julia Boorstin with the very latest. A developing story, julia, what do you know . Reporter the latest is that comcast is in talks not to buy all of fox but certain assets, the entertainment assets it would not include the broadcast network. Likely a similar assortment of assets that disney was interested in, plus sky in the uk and star in india those two International Assets are particularly important comcast, although its cable assets are here in the u. S. , Nbc Universal is obviously more global but this would really allow comcast to position itself more as an international company. We have confirmed with a source that talks are still happening between fox and disney and it would be with a structure similar to what disney was pursuing now we see fox shares up 5. 5 on the news, comcast shares over 1 certainly a lot of movement in this media space right now, melissa. Weve had earnings reports since t