Good afternoon everybody. And everybody who is looking at us virtually and everybody in line in the security line trying to get in. And everybody who will be watching sometime soon on a cable network. So i am jane harman, president and ceo of the Wilson Center and today we are probing a very complicated issue that is in my view policymakers in washington and all over the world. At least three parts of the problem are the u. S. China, and the 5g supply chain. The Wilson Center has just produced this is a prop, a spectacular policy brief by Melissa Griffith who is in the front row, and we will see in a little bit which is entitled there is more to worry about the huawei. I think you get the just of this. And she will explain in detail but run, do not walk to read this. Meanwhile, what captures the attention around 5g is that Chinabased Huawei has led the way in developing the superfast networks which will power self driving cars, virtualreality and other cuttingedge technology. Since Chi
Galaxy a german team has revolutionized gear driven systems. But 1st a crime committed on a huge scale the scene the kitchen the perpetrator food fraudsters adulterating Food Products is a lucrative business and far more common than you might think now regulators are trying to stop the criminals behind it with a high tech d. N. A. Database. Olive oil isnt always what it says on the label it breaches e. U. Regulations on marketing standards more than any other product often its mixed with low quality salad oil coloring fragrance and flavoring but sold as extra virgin 25 percent of all of oil on the world market is allegedly floor didnt. Appear organic honey supposedly in fact style looted with sugar syrup. She is sold the champagne. Is widespread and highly profitable. Its estimated that the trade in fake Food Products is even more profitable than the drug trade. Worldwide 10 percent of foodstuffs tested are fake even oregon it was sometimes adulterated with chopped hay leaves other bul
Official think lowering to a negative rate will not provoke a backlash. Attention on the trade war. The deficit seen widening last month. Lets get a quick check of asian futures right now. In japan we got the nikkei futures pointing modestly higher. A similar story and south korea. While here in australia we have got futures pointing higher. New zealand been trading for an hour now. Not a great deal of action to report. Paul shery ahn u. S. Futures not doing much of the moment. After stocks drifted throughout the session, and then we had a slight uptick for the s p 500 to gain. 3 . We have consumer shares rounding and Energy Stocks were some of the big losers. Losing a lot of ground after that huge surge we saw a 15 for crude monday and continuing to fall below 60 a barrel. We also have banks underperforming. Ahead of thatll fed Rate Decision on. Wednesday ahead of that, we are now seeing the money markets and turmoil. Take a look at this chart on the bloomberg. We saw the rates surge
First half. Is ticking asck london and brussels plan new talks. They can still block a new deal divorce. Kathleen breaking news on south korea Industrial Production. I was talking about whether or not the bank of korea might cut their key rate and a couple of hours. The pricing jump, up 2. 6 . Up more than forecast at 0. 5 . That is what was expected. In terms of the monthly number, lets move on to the yearoveryear number. Up 0. 6 . A big improvement over 2. 9 . That has been revised a little bit higher, 2. 6. Very good news for south korean Industrial Production, closely linked to manufacturing, closely linked to the trade war. We will get more details on that and get more on that later. Beijing for ato look at the asian markets. There has been a lot of volatility this month but it looks like on the last day, we are seeing cautious optimism. More green across the board. For the nikkei. Positive numbers out of korea so that will help bolster when the markets open, up almost 1 . 5 thise
Fallout. Deutsche banks sweeping turnaround gets a thumbs down from investors but what will it exit from equities mean for other banks . Tech tensions. Japan says a resolution to the trade spat with south korea is dependent upon souls response. We should hear more about that this hour. Is the European Market open, 29 minutes ago until the start of the European Equity trading day. Bitres look a little sluggish. We are slipping around the Global Equity story. We were slipping on wall street yesterday, slipping in the asian section, slipping back on european futures, slipping and waiting to hear from fed officials, waiting to hear from the fed because the market is betting we will get a rate cut in july despite the strong data on friday and the markets will be looking to test that theory dayshe hypothesis in two of testimony from Jerome Powell. Lets show you where we are on equity markets. Is close to the markets right now, that is something we are watching and watching fed minutes on wed