Faster Consumer Recovery and it is monday, june 1st youre watching Worldwide Exchange right here on cnbc good morning, good afternoon, good evening, welcome from wherever in the world you may be watching us i am Brian Sullivan. Thank you for joining us on an important day on cnbc. We begin our coverage this monday, as we always do, focusing on markets, economies and global business. That is our business here on cnbc and this morning, in a new month, we find those things are at the crossroads of four very important events number one, the planned reopening of the American Economy and whether that is now at risk. Two, both peaceful protests and riots in nearly every major city in the country three, rising tension between the United States and china. And, four, 40 million americans currently out of a job and hoping for a recovery that puts them back to work. Throughout this hour and the entire business day, you will hear commentary and analysis from investors, money managers, executives an
as you ve been hearing, leaders of seven of the world s top economies are meeting in the city of hiroshima. but it s the two that aren t attending that will be talked about the most. as well as new sanctions on russia they ll be focusing on china and how to counter its increasing economic power. as the bbc s nick marsh in hiroshima explains. the g7 kicked off and the two biggest issues on the agenda are a war in ukraine and the economic containment of china. on that first subject the us got off to a quick start before the summit had even begun. they announced a fresh batch of sanctions targeting russia and its ability to source battlefield materials. they are also trying to tighten the ability of russia to use third country loopholes to evade those sanctions. britain as well has announced a ban on the importation of russian diamonds, of copper, nickel, aluminium as well that comes from russia. these are the actions of individual countries. the real challenge will be when ther
trump s old cabinet. the west wing was broken. it was not functioning properly. the problem hesident has a l history with president xi. we re adversaries, we re competitors with china right now, no doubt about that . welcome, it is friday, july 29, 9:00 a.m. in london, 4:00 a.m. in eastern kentucky where flash flood warnings are up right now as more storms and heavy rains move through the region. that is after catastrophic flooding already claimed the lives of at least eight people and the governor warns the death toll will go higher. and he said that it could take years for residents to rebuild and called it the worst flooding disaster of his lifetime. overnight residents near a dam were ordered to evacuate due to the fast moving water and the area has gone through this before, but not quite like this. we ve seen water in the streets before, but we ve never seen water, you know, waist deep in the streets or chest deep in the streets. never seen this in all the year
In that direction. Its notjust investments coming from the outside, in this regard, the us is investing in itself. 6. 6 billion as part of the chips act. This is a significant amount of money, isnt it . You have to put this in some context, though. Other countries, like taiwan, likejapan, like south korea, they been investing in their Semiconductor Industries for a long time, so this is the us finally playing the game of investing in this type of manufacturing which requires in most cases requires some Government Investment to defray the cost of these facilities which has reached Something Like 40 billion for the most advanced Semiconductor Manufacturing facilities, so government assistance here can be crucial to sort of making the facilities more viable commercially. Us treasury secretary janet yellen has wrapped up four days of meetings in china with a warning that the us will not accept new industries being decimated by chinese imports. During a press conference, yellen said us Pres
In that direction. Its notjust investments coming from the outside, in this regard, the us is investing in itself. 6. 6 billion as part of the chips act. This is a significant amount of money, isnt it . You have to put this in some context, though. Other countries, like taiwan, likejapan, like south korea, they been investing in their Semiconductor Industries for a long time, so this is the us finally playing the game of investing in this type of manufacturing which requires in most cases requires some Government Investment to defray the cost of these facilities which has reached Something Like 40 billion for the most advanced Semiconductor Manufacturing facilities, so government assistance here can be crucial to sort of making the facilities more viable commercially. Us treasury secretary janet yellen has wrapped up four days of meetings in china with a warning that the us will not accept new industries being decimated by chinese imports. During a press conference, yellen said us Pres