Get started now. Folks are still arriving which is fine. But we want to get started because weve got a fantastic program for you and not a lot of time. This hour is going to flyby. Toms book is really a fantastic read. But i do think that folks especially in the United States are going to find the book controversial. Thats a great thing about a book. If the book doesnt generate a conversation then it may not be worth reading. This is a glass halffull story about chinas economy in the management of the Financial System. Its offered at a time when u. S. China relations are declining. And attacks from all different corners in the United States of china system are growing. And theres this argument that chinas economy, how it manages that economy, is incompatible with the international system. And as a result the u. S. And others need to reduce their exposure to chinas unique risk. The book tries to answer the question, how did china japan should do it . How did they manage to continue to g
A stimulus plan to offset the pandemic and another big week for earnings. Results from sap as europes largest tech companys speak year ceo speaks with us and ryanairs cfo. Speaking of ryanair, weve got numbers coming through from the airline. Tax, quarter loss after 185. 1 Million Euros. The estimated loss was 276. 9. That is a smaller firstquarter loss after tax than was expected. What we are hearing from ryanair in terms of commentary is the biggest fear is the virus second wave and fears are already swirling around that in terms of the news over the weekend with u. K. Imposing quarantine from spain. We will no doubt get comments from my ryanair. Losses are mounting. Basically, First Quarter customers, zero point 5 million versus 41. 9 million, the estimate was 96 , theor, 61 versus estimate was 57. 8 but the main number to look at is the first and basically ryanair said it will continue losing money through the summer. It is concerned a second wave could push back to recovery into n
Amid consulate closures and arrests over spying allegations. Ray dalio warns the capital war could hit the dollar and gold source to a record high. Ryanair says its biggest fear is a second wave of the coronavirus as the Airline Reports a loss for Quarterly Earnings as the u. K. In forces a 14 day quarantine on travelers from spain. Plus, sap plans to spin off its Consumer Survey unit two years after buying the firm. It also beat Free Cash Flow forecast for the year. We are under an hour away from the start of the cash equity trading in europe and the picture, firmly risk on which might seem a little counterintuitive given we are seeing gold at record highs but this is the state of play. Euro stocks futures called 1 5 of a percent higher. Travel stocks could be active given the decision to impose a quarantine on travelers returning from spain amid increasing concerns of a second wave in the country. Ftse futures called higher by a similar margin and s p 500 mini futures in the u. S. ,
China sea. Coronavirus cases are in the u. S. Florida passes new york is the second highest state after california. Gold futures had a record, beating levels last seen in 2011. Sasol are plunges. Lets take a look at how export thesis shaking up when it comes to the start of trading here in asia. This is what we are seeing when we are seeing futures. U. S. Stocks fell for a second day on friday. There is a faltering sense of recovery in the u. S. This is expected to focus on unemployment insurance. Pelosi has called that passage contracted the futures is down by a 10th of 1 . Japanese stocks coming back online. Mildly positive. Sydney futures extending losses down about a half percent. A flat start to the cash trading session. Lets take a look at gold. That is always the been the story. Gold prices are not looking too far behind. General concerns about where the Global Recovery goes from here. Global virus cases have exceeded team. 1 million while there are signs the virus spread is slo
Affected companies and disrupted billions of lives and jeopardize development process. The june edition of the world banks Global Economic prospects which motivates todays conversation and visions a 5 1 4 percent construction in global gdp in 2020. This is a different recession sinceworld war ii. And a drop in capital incomes since 1870 and it is a timely and vigorous report informed by an assessment of the fundamental drivers of longterm growth includingthe collapsing investments which will slow capital formation. And the dislocation of trade and supply linkages among others. Beyond the headline Economic Growth numbers the pandemic is having a disproportionate effect on low Income Countries where the dependence on commodity prices, food is the largest and in a way economies are dominated by the factor with which lowers its ability to adjust to measure such as confinement similarly, the most vulnerable populations in the advanced economies are relatively more exports as such a pandemic