Anna good morning from london. Manus cranny is in dubai. These are todays top stories. It is a mixed monday for Global Equities as coronavirus cases and u. S. China tensions threaten risk appetite. Mike pompeo suggests action to protect National Security will not stop at tictoc. Shares did as earnings missed the mark. The group says it will accelerate cost cuts. More to come from our exclusive interview. We will hear from sociogeneral after a surprise sociale generale after a surprise loss. Task force head says the pandemic is in a new phase. It has just gone 6 00 a. M. In london. It is 9 00 a. M. In dubai. Normally it is yusuf and i this time. They were very clear, the single worst economy is the u. K. It is one of the weakest economies globally. They have taken a hit. They gave us a global perspective, a wide range of losses. There has been a big shift in the global economy, but it is not going to be enough to steady the ship. The next three to six months will be critically important
Of a number of Steel Companies the shifting of manufacturing to the global south where the wages were lower where the environmental rules were not either existed or enforced and thats the beginning of this concept of these transnationals they had the technology to do it they had the Transportation Systems to do it and frankly governments werent stopping them. And i just remember one day i was i was working on the boss come up to me and says thats where were going home. I thought were going home early why because were close to. The closed doors on us or. I dont know what to say. Because its a crying shame really is. I was a long time or democrat. But this last election before it came along i switched parties i switched parties on the republican now and. I think mr trump is doing a great job for us i think hes trying youre going to help the country you work for and i think you try and do that really does. That. Kind of doing little to no job in a neighborhood that causes plenty of strain
Once again i say good morning to we have been full by randomness. The story of the french banks this morning is absolutely extraordinary. Francine the french banks, but actually hsbc also disappointed. That is why we are seeing a to thebit of weight banking stocks in europe. I know you want to start with your data tom. Volatility for august. Tom lets do the data check as we go into august. I like what kit juckes of socgen says. August has some risk to it, and we start out with a turn. The markets lower, but the nasdaq 100 trading abruptly higher in america. We will have to see how the tech stocks open. In the yield space, it is a jumble right now. Maybe Early Morning u. S. We are not there. As we see the churn in europe and such. The real news is the u. S. 10year inflationadjusted piece. 1. 01. It breached one on friday, or maybe it was thursday. That is a huge indicator of disinflation. Merrick and oil under 40 a barrel gets my attention american oil under 40 a barrel gets my attentio
Spend time on and we have euro area pmis coming in a touch better than expected but im not sure if it is moving eurodollar that much. 39. 80, always a good test looking at command and what it means for the world economy. Point 1764 and we look at her earnings with a couple of disappointments in the banking sector. Joint manufacturing pmi coming in at 51. 8 instead of 51. 1. Lets get the first word news with laura wright. Laura the u. S. Plans to act against a wide range of chinese owned software companies, not just tiktok. Thats the latest from secretary of state mike pompeo speaking to fox news. On friday, President Trump told supporters he plans to ban the app. Pompeo said the decision should come soon. The u. K. Is considering the worst case in a real of locking down london according to the sunday times. It would see at risk people asked to stay at home. The local government secretary says he is not aware of any specific plans to seal off london but the u. K. Will target local flare
Todays sponsors, target and Thomson Reuters, two Companies Whose core values clearly reflect their desire to connect Law Enforcement with communities, by helping the national Law Enforcement museum to accept the table for meaningful and impactful conversations. Now for some brief housekeeping items before i introduce our keynote speaker. All attendees are muted. If you like to ask a question, please cement your question through the q a tab. Note that everyone in the webinar will see your question. You can upvote questions submitted by other attendees and we will prioritize questions that received the most votes. A link to this webinar would be sent to everyone, and will also be available on that museums youtube channel. Panelists, please room ever to keep yourselves on mute when you are not speaking. I would like to introduce our keynote speaker. Sharon belton, the Vice President of Strategic Partnerships and alliances of Thomson Reuters government. She oversees development and managem