Speak in some form of the w. H. O. Conference. Theidea of recovery in united states, all of Global Finance transfixed the chairmans comments last night on 60 minutes. Francine 100 . The chairman is talking about the virus, so we will have a look at this second wave of infection and what it will look like. Lets get to first reduce with ritika gupta. Ritika good morning, francine, tom. Jerome powell says the u. S. Recovery could drag through 2021. Powell told the cbs news program 60 minutes the economy will recover steadily through the second half of this year, but he said a full recovery depends on people being confident, and that may not happen until a vaccine is available. It is the first meeting of the World Health Organizations governing body since the coronavirus outbreak began. China will be challenged on two of its most sensitive issues, how beijing first handled the taiwanse status of participation, the e. U. And australia expecting to push for an investigation into the viru ori
Chinas economy contracts for the First Time Since at least 1992 after the coronavirus lockdown but industrial output numbers offer signs of encouragement. Stocks push higher as President Trump outlines steps to reopen the economy despite data showing 5 million more americans filed for unemployment. Plus hedge funds suffer a volatile march. And the worst ever losses posted. We will see this morning what u. K. Asset manager things. Breaking headlines on european car sales plunging 52 in march. European car sales more than getting cut in half in march yearoveryear. The biggest drop on record. We will be sure to talk a lot about cars today. Hsbc upgraded bmw shares to a buy. Anna a lot to talk about in terms of the car story an interesting to see the plans are around reopening car production. Let us talk about man group. The World Largest publicly traded hedge fund. Net inflows for the First Quarter, 5 million. Standing at 104 billion u. S. Dollars. These numbers are coming through. They a
We have been covering the economy, bringing you live coverage from beijing. In the meantime, this is what is happening in europe. Euro area november services pmi falling to 51. 5. Anything above 50 is expansionary but below forecasts. Again, this is for yourarea manufacturing for the month of november. Quite a lot going on in the markets. It is all about the ecb speech and Christine Lagarde. How she means new policies will be taking place. Stocks overall on the up. We had a similar rally when it came to asia. Pointing towards a marginally strong open in the u. S. As investors try to figure out headlines on the trade dispute. Say, a lot of the talk in beijing was on that. The dollar is mostly steady. Lets get first word news in newark city. New york city. I fear this was all going to blow up. Those were the exact words spoken by fiona hill in the impeachment hearings, that is what she told fellow diplomats but that she now understands why he was not involved in security or Foreign Polic
Todayreasuries are posted closed today because of labor day. If you are americans watching us, happy labor day. This is the picture for eurodollar. 1. 09. Have the german figure a short while ago that was worse than expected. The european stoxx 600 gaining but it is all about the trade war. Up, we speak to the chief economist at 10 00 a. M. London time. Lets get to first word news. It is Sebastian Salek. It forced 185 mileperhour winds and could top 23 feet. It may leave the islands devastated. Uncertain if dorian could hit makeda on my or not landfall at all. Argentina has imposed capital control. Corporations will require centralbank authorization to buy dollars in the fx market fx market. The president is trying to stem the growing economic crisis eight weeks ahead of president ial elections. Thelor Angela Merkel euro skeptic alternative to germany did not make a breakthrough in local elections. The result may save prices in berlin. Saudi arabia is putting its portfolio into two min
hello there. governments around the world should subsidise food and edgy for the poorest members of society to double the cost of living crisis. that s the call from the head of the international monetary fund. she is concerned that if central banks raise interest rates too aggressively to tackle elation, stoked by the war in ukraine, they could cause recessions. she says any financial help from governments must be carefully targeted to avoid making inflation worse. they ought to care for and review who and what to support, to prevent the tightening of financial conditions and the shock but inflation is now causing one confidence, to turn what is still a positive world projection into the recession, you rightly are concerned about. so we say to our members, be very careful how much you spend and what for you stand. there are two priorities. one, the very poor people, segments of society that are now struggling with high food and energy prices. for people for whom this is like