Being pushed between them and the u. S. With a new cold war. Wang yi, the foreign minister , warned the u. S. Not to cross beijings redline on taiwan. In the u. K. , Oxford University has reportedly run into a hurdle are developing a coronavirus vaccine. According to the telegraph, a decline in infection rates may make it difficult to prove whether the vaccine is indeed successful. A is said that there is only 50 chance of coming up with an effective vaccine. Japan is issuing a state of instituting masses massive testing, but its death toll is far below 1000. Global news 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in im than 120 countries, leighann gerrans. This is bloomberg. Nejra . Nejra leanne, thank you so much. We are seeing clear risk on an todays session. Bear in mind that the holiday in the u. K. Of the u. S. Will be thinner liquidity, but even with the emergence of geopolitical risks with regard to hong kong, euros o
Formal impeachment proceedings with House Speaker nancy pelosi saying he has violated his oath of office. President struck a hard line at the United Nations with comments about china and iran. Investors are weighing another change of tone. Boris johnson refuses to quit as u. K. s top judges attack his suspension of parliament. They say his advice to the queen was unlawful. Stock market,he take a look at this board where you can see the major market averages down across the board. It was donald trump speaking at the u. N. And bashing china. News came out that pelosi was ready to say, ok, we are going ahead with impeachment proceedings. You can see the s p 500 losing a full point. What hit the nasdaq so hard was the fact that donald trump was beating up on big tech companies. Interesting that we are seeing a little bit of an upturn for the stock futures. The s p 500. This hit bonds. Another thing that hit bonds, a big move down in yields, you can see quite a rally of seven basis points a
The Trump Administration is facing fresh turmoil over its dealings with ukraine. The secretary of state mike pompeo has been ordered by the house of representatives to hand over documents as an impeachment investiogation continues. Congressional committees have also summoned five state department employees, including its special envoy to ukraine, kurt volker, who has now resigned. President trump says this is just a witch hunt. Our north america editor jon sopel reports. God bless you mr president. Theres support, theres defiance, but also theres anger. In a twitter fusillade this morning he took aim at the Democratic House chair of the house intelligence committee, adam schiff, the person who will play a key role in impeachment hearings. The Inspector General found that serious allegation of misconduct by the president credible. Donald trump said of him. And then the whistle blower who revealed details of the president s conversation with his ukrainian counterpart volodymyr zelensky.
We start with the cost of borrowing, because the worlds most powerful central bank, the us Federal Reserve, has cut Interest Rates for the First Time Since the financial crisis more than a decade ago. The move disappointed financial markets, not to mention President Trump. They wanted a bigger cut or at least a clear signal that more cuts will come. But the move is part of a global trend of falling borrowing costs from europe to asia to south america as the Economic Outlook grows more uncertain. Lets show you the details. The fed cut its main Interest Rate by 0. 25 to a range of 2 2. 25 . Chairman Jerome Powell citing signs of a global slowdown. Last week European Central bank chief mario draghi made it clear it they are going the same way with markets expecting a rate cut in september along with more stimulus measures. Today its the turn of the bank of england. Its not expected to cut today, but markets are betting it will do so by december, amid rising risks of a no deal brexit. It w
Its liz30am. Now on bbc news, hardtalk. Welcome to hardtalk with me, zeinab badawi. How dangerous is the superpower rivalry in technology and information . Well currently, there is much focus on the tensions between the us and china over the chinese tech giant huawei. Soon, sg networks will be of critical part of our world in transportation, power supply, Payment Systems and so much more. Washington says the chinese cant be trusted because they may use that Technology Infrastructure for spying. Beijing says this is nonsense. My guest is the us top official on cyber information and security, ambassador robert strayer. He is on a mission to dissuade europeans from doing business with huawei, but is washington losing the cyber war . Ambassador robert strayer, welcome to hardtalk. Thank you for having me. What are your fears exactly about using Chinese Telecommunications technology . Well, we are very excited about the promise of 56 technology because its going to power all types of Critic