Interesting enough. We have the gdp numbers, the contraction in that economy, which is awful, obviously, but relatively good to compared to some other parts. Getting the test and trace progress going very efficiently. Fester e talk of an of Investor Outlook for another year. Tom the dialogue on furlough and income substitution over there versus what we see in america. With a briefing, our first word news with ritika gupta. Ritika President Trump and speakers at the Republican National convention put a positive spin on trumps handling of the coronavirus pandemic. The president thanked frontline responders and said the virus is going to be fading. Others warned what would happen if joe biden was elected. There is more work to do, but there is a light at the end of the tunnel. Jobs gains are outpacing what the socalled experts expected. But biden set by radical leftwing policies would stop our economic recovery cold. Hes already talking about shutting the country down again. Its madness.
Not a pretty chart. How concerned is the governor of the bank of england . Governor is extremely concerned. We also had forecast this morning from the ob are, the fiscal watchdog, suggesting unemployment is going to remain extremely elevated and is likely to rise into next year. That will make the governors job in the chancellors job very difficult. The real question is, where does the stimulus come from . Does it come from the treasury in westminster, or does it come from the bank of england . I suspect it will be the bank that does the heavy lifting, not the treasury. Both will have to do some, but the onus is going to fall on the governor. Tom this is the theme of surveillance today. Now that we drift to the end of july, the middle of july, we begin to see gdp data from may and june, the change to Political Economic dialogue. In new york city without first word news come here is ritika gupta. Ritika good morning. Vice president mike pence told u. S. Governors to protect their citize
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
Today and we welcome them. Lieutenant dingell, rear admiral bruce gillingham, surgeon of the u. S. Navy. Lieutenant general dorothy hogg, Surgeon General of the United States air force. Mr. Mccaffrey, assistant secretary of defense for Health Affairs and lieutenant ronald j. Pace director of Health Agency and mr. Bill tinston Program Executive officer of Defense Health care and management systems. Today we have serious questions on how medical reforms have been accounted for in the president s budget for fiscal year 2021. We will have members coming in and out. We are getting briefings on covid19 as we speak and theres a few other meetings going on. Your full testimony is available and i know members had it like i did last night to read through it. Well get start. Across is the spectrum of the military health care to benefit care in many cases the budget justifications lacks adequate detail for the subcommittee to make informed decisions. We hope the Witnesses Today can address the sub