We are also getting some breaking news out of china for end of july Foreign Exchange at 3. 1 coming in trillion. It is a touch above that. The markets also focusing on the stimulus in the u. S. That may or may not be coming. President Donald Trumps latest attack on Chinese Companies also stoked tensions with beijing, which is why we are seeing treasuries and dollar actually rising. The president signing an executive order prohibiting u. S. Residents from doing any business with wechat, tiktok, or the owners of these chinese apps. Now, lets get straight to the bloomberg first word news. There has been no headway in talks between the white house and democrats over a new virus relief package. There are still major sticking points and both sides are accusing the other of refusing to compromise. One key difference is the top line number. The democrats want 3. 5 trillion of aid. The republicans want 1 trillion. Another round of monetary stimulus is expected from the bank of england. Policyma
The cash trade is one hour away. Lets get your top headlines for you off the bloomberg terminal. Trump signsnald executive orders blocking u. S. Residents from doing business with tiktok and wechat. Shares in tencent plummet. The white house and democrats failed to strike a deal on stimulus. Trumps chief of staff says the differences are still significant as the july jobs report looms. We will speak shortly with Standard Life aberdeens deals, flows,bout and his successor. Results are crossing the wire as we speak. Annmarie, what do you see . Annmarie looks like it is a beach. Eps comes in at 7. 0 pounds. And then the first half adjusted pretax is 190 5 Million Pounds. The estimate was just under 180 so that is a beach and we will dig down deeper into these earnings when we have the ceo, next. I know you have some news coming out of berlin right now. Matt that is right. We have Industrial Production right now out of germany. Pretty backward looking because it is data from the month of j
I now recognize myself for an opening statement. Chair,his tenure as fed he served as the chair of president bushs council of economic advisers. In their first congressional testimony since leaving the Federal Reserve, former chairs ben bernanke and janet yellen called on congress to take action to encourage economic recovery. To 2014 before being appointed chair. In 2014 by president barack obama. Dr. Yellen also previously asved in the white house chair of the council of economic advisers. Time eitherfirst dr. Bernanke or dr. Yellen have testified before Congress Since stepping down from the Federal Reserve. These extraordinary times require congress to seek out of experts with extraordinary experience. As Congress Works to end the economic crisis and enable a strong recovery, we are fortunate to benefit from their individual insights and gain from their unique position as Federal Reserve chairs in the last economic crisis and recovery. I want to thank both of them for agreeing to te
Come to order. Without objection, the chair is authorized to declare a recess of the committee at any time. I now recognize myself for an opening statement. Today, a select subcommittee is pleased to welcome our distinguished panel, dr. Ben bernanke and dr. Janet yellen. Dr. Bernanke was appointed chair of the Federal Reserve by president george w. Bush in 2006 and oversaw the Federal Reserves response to the Global Financial crisis. Before his tenure as fed chair, dr. Bernanke served as the chair of president bushs council of economic advisers. Dr. Yellen served as vice chair of the Federal Reserve until 2010 to 2014, before being appointed chair in 2014 by president barack obama. Dr. Yellen also previously served in the white house as chair of the council of economic advisers. This is the first time that either dr. Bernanke or dr. Yellen has testified before Congress Since stepping down from the Federal Reserve these extraordinary times require congress to seek out advice from expert
President bushs council of economic advisers. Dr. Yellen served as vice chair of the Federal Reserve until 2010 to 2014 before being appointed chair. In 2014 by president barack obama. Dr. Yellen also previously asved in the white house chair of the council of economic advisers. Time eitherfirst dr. Bernanke or dr. Yellen have testified before Congress Since stepping down from the Federal Reserve. These extraordinary times require congress to seek out of experts with extraordinary experience. As Congress Works to end the economic crisis and enable a strong recovery, we are fortunate to benefit from their individual insights and gain from their unique position as Federal Reserve chairs in the last economic crisis and recovery. I want to thank both of them for agreeing to testify today. Crisis, thento this coronavirus pandemic continues to spiral out of control. Today, over 3 million americans have tested positive for the virus, including a recordbreaking 75,600 confirmed yesterday. Than