Hotel giants see room revenue plunge 80 the central bank said they only answer to the court not the government the call to justify its Bond Purchase Program significant loss of output has become inevitable. That is the message from the governor andrew bailee forecasting a 14 drop in gdp. Sterling rising as the bank of england predicts a sharp recovery in 2021 caller expect a recovery much more than the pull back from the financial crisis. After the british telco cut its dividend looking to shake up its sector a warm welcome to street signs. Lets get to our top data point, chinese exports jumped by 3. 5 in april as reopened factories in the country moved to fulfill back log of orders. With a 2 fall in the month. The biggest decline since 2016 the trade surplus grew to 45. 3 billion. Far above expectations how meaningful is this jump in exports . Is it reflective of rebust gains or concentrated in particular sectors . Even after that beat . Export numbers in april, the con k consensus im
Surveillance. I am Francine Lacqua in london. Here are your markets, you can see the stocks europe 600 is down. But nothing like some of the anxiousness we saw over the last couple of days. There is definitely a deescalation, so in certain parts of the world, there is relief in the markets. Im looking at eurodollar 1. 180. If you are looking at the yen, it is also a little bit off the anxiousness we see out there. This is the picture for the u. S. Yield, one of the main metrics we have been following closely. Look at the 30 year yield over the rest of the day. Coming up, a conversation with mike wells, chief executive of prudential. Lets get straight to a to bloomberg first word news. We begin with the German Economy, shrinking in the Second Quarter, piling pressure on Angela Merkel. Economyht, she said the was going through a difficult phase. From the previous three months, output fell and exports slumped as the trade war hit manufacturers. The italian Prime Minister has been called t
Billion listing in hong kong, amid the political unrest in the territory. Also in the programme. A fall generally and asian shares, but markets rally. Helping the Beauty Industry go green. Well talk to the woman who says you can look good while doing good. A study estimates up to a0 million old, unused tech gadgets are piling up in uk homes. So, what do you do with your old phones, computers, etc . Let us know just use the hashtag bbcbizlive. Hello and welcome to business live. Get your tweets coming in. I have drawers of old gadgets, but i do not know where any of the charges are, slight problem a major complaint by many workers across the world is that their salaries remain fairly stagnant, while their bosses continue to enjoy bumper pay rises. However, times may be changing. A new report by the High Pay Centre suggests the salaries of chief executives for the uks top 100 listed companies saw a significant drop last year. The report found that median pay for ftse 100 bosses fell by 1
City this morning. For our audience worldwide, this is bloomberg surveillance. Equity futures on the s p 500 up. 2 . Date two for chairman powell and in washington, d. C. It is the state of the Union Address. We will catch up with amh in washington. It was a win for wall street but not the kind of win we were thinking about. This was not Monetary Policy, this was about Financial Regulations. Lisa there are lobbyists in washington, d. C. Getting massive bonuses. We saw that 19 Capital Requirement that the largest banks in the u. S. Were going to have to hold under new proposals basically being rolled back. Jay powell saying we will make a lot of changes to this after a lot of lobbying. Jonathan day one was in front of the House Financial Services committee. Date two was in front of the senate committee. The senator from massachusetts, Elizabeth Warren, i imagine Elizabeth Warren has followup questions about yesterday. Lisa i imagine she will not be particularly happy when people are loo
25 of the jobs in america and close to 25 of the nations gdp. Right now, they are feeling good about the economy. A brt survey came out which suggested the rating right now in terms of how they feel about the economy climbed 11 points to85. That is a little above the reading83. Feeling good about the capital sales. Those are up double digits from the last quarter. Plans for hires have particulared higher. They sent out a survey asking ceos and if they think Government Policies are undermining American Free enterprise. 75 of ceos think that. Of those who answered yes, 92 partly s92 cited over regulation. We will talk to the ceo as and what they would like to hear from the administration and what they feel is most important to growth policies in the United States. Thats what we are talking about with the ceos today. I can forecast whats coming. Some buyback stuff. They dont like those. Corporate ceo compensation stuff. A lot of different populous rhetoric coming out of it. What is weird