Bloombergs European Headquarters in london. Breaking news from the iea, the International Energy agency. The report is out and the iea says opecs supply they see opecs supply jumping the most in four years on saudi surges or beget we had a story saying iran is the latest country to jump on the bandwagon, asking for opec production to the cut. Nymex at 54 brent 59. Chinas economy is in the spotlight with all Global Economic indicators pointing to a deepening slowdown. Stocks are headed for their biggest drop in weeks. Bloombergs chief asia economist joins us now from beijing. Tom orlik. Gdp came in target on 7 . The data actually disappointed. What should we read into all this . Tom i think that is right, francine. There was some good news. The premier said he wanted 7 growth for the year. In the first quarter, he got it. Gdp coming in at 7 . There was also bad news. A lot of the monthly data was disappointing, in particular industrial output which is the main monthly measure of growth.
Bloombergs European Headquarters in london. Im francine lacqua. The endgame is looming for greece. The Prime Minister is refusing to back down from campaign pledges to end austerity. A deal with european creditors for bailout funds also remains elusive. Toms neck rolls joins us now from berlin. What is now greeces biggest barrier . Hans there appears to be an emerging consensus that part of the problem is that syriza thinks they have a mandate to fight this austerity that they say is beginning imposed on them. You heard the maltese finance minister clarify and crystallized this point. Here is a quote from him. The mandate that the greek government has got, that is the stumbling block. That is why some are asking whether there should be a referendum. If you think it is the mandate that is the problem, there is a solution. That is to have a referendum. You heard hints about that in germany last week, mr. Schaeuble indicating that he could support that. You have sigmar gabriel, the vice c
With this idea later in the hour. That is all coming up on markets now. Dagen doggie vacation. They just raised about 15 million in additional financing. That is a big chunk of change. Connell is that Better Business than buying stock in an athlete . Dagen guess, probably. Nicole is the New York Stock Exchange with the very latest. Nicole good morning. We are seeing the markets without the aeros. Less than 200 points away from the all time highs that we have been seeing. Yesterday we stopped the winning streak. It was our first down day in six. Look at that, we are back in the green again. We do have retailers and drugs looking good today. We got good Economic News from china. We continue to get earnings. We are watching forward closely. They talked about Global Growth going forward. Ford is up 1. 4 . Doing well with the ford focus. Back to you. Dagen thank you, nicole. Connell the big story in d. C. Today involves these contractors. They are facing some tough questions on capitol hill
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