we begin in china where we ve just had a slew of data that shows how deep the impact of both the pandemic and its demographics is having on society and the economy. data from the national bureau of statistics shows china s economy grew by 2.9% year on year for the last three months of 2022. that beat expectations reuters expected the economy to grow byjust1.8%. for the full year growth came in at 3% far below china s official target of 5.5%. excluding the year covid hit in 2020, this is china s worst showing in nearly 50 years. also today, the news that china s population has shrunk for the first time in more than 60 years a change that is expected to have deep economic, social and political implications for china. for more on that let s go to katie silver in our asia business hub. tell us more. that s right. the bi . tell us more. that s right. the big figure tell us more. that s right. the big figure that tell us more. that s right. the big figure that we ve tel
56% of voters seem keen to try something new in a country where inflation is running at over 1a0% and two in five people live in poverty. but many economists are concerned about mr milei s victory. lets get the view of andres abadia, chief latin america economist at pantheon macroeconomics. good morning. a lot has been said about his radical ideas, his promises and he is saying he will bring them into being very swiftly. give us your take on this result. a new chapter in the argentinian economy. he is in the argentinian economy. he: is trying to in the argentinian economy. he is trying to implement new measures. we don t really know what will happen from now on. the reality is argentina is having big trouble in terms of the economy. real gdp is contracting, inflation running well above 100%. around 140%. it will probably end the year at around 200%. we also see capital controls skyrocketing interest rates. the situation interest rates. the situation in argentina is dramatic.
Negative after accounting changes. We speak first to stephan engles. Digital dismay. Publicis is the biggest faller in europe as the ad firm books a 1. 4 billion euro writedown on its Digital Business with underlying sales falling 2. 5 in the Fourth Quarter. A holiday nightmare for thomas cook. Shares sink as the Tour Operator reports a big quarterly loss and issues a cautious outlook for the year ahead. Welcome. Lets look at some of the Market Action across europe. Its fair to say some of the early confidence has started to cool on the markets. Only just holding on to the green for the ftse mib in italy. The French Market moving as big name caps are reporting there in the French Market, were ahead 0. 4 . The german stock market up about a third. And about 0. 10 added to the ftse 100. Lets look at the banks. Among those reporting today, socgen has been out with numbers today. Still trading positive. Up 2. 5 . Commerzbank initially positive, now trading weaker. It is a split picture for
On the high side when it comes to bonds. How many . Were in the record zone at the moment. For germany, the dutch and french. Were seeing record low yields. Keep an territory eye on the debt market. Money going into bonds as we saw yields in japan died lower dive lower. Up we go. We see the yen fog. The dollar higher, the yen lower. As i said, oil trading got much higher today. That is on the back as the talks from opec in russia. Could they come together . 2. 2 . Seeing brent up lets check in with those movers this morning. Weve got results and changes at the top. Up. A samara sky, 1. 5 . More as rupert were going to wait for the message to open. Gamesa to open. Back to you. Guy thank you very much. Let me get to this chart. This chart here absolutely spiking. Zooming ahead. Consensus is what bernstein said this morning. Leading the stoxx 600 now. Lets find out what is been going on in terms of asian trading. Shery ahn is standing by. Give us the full impact of what the boj did early
Tesco as the grocery giant parachutes in its new ceo two months early. The shareholders are not convinced, sending shares lower for a second day. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. And were just going to bring you the eurozone market pmi data that is just breaking as we speak. The composite pmi number has come in for august at 52. 5. It has been forecast to be 52. 4. Let me just jump in here. What were looking at is the september number. If you see that one, thats 52. 3. And theyre coming for the manufacturing number for september to come in at 50. 7, having been forecast at 50. 5. Looking there at the ur euro dollar, which is flat for the day on the news. The services pmi has come in at 5371, having been forecast at 53. 0. So in general, the eurozone pmi numbers coming in pretty much as expected. Fractionally ahead. Chief economist at market, chris, largely coming in with line with expectations . Generally. Although there are