that's all for this edition of dateline. i'm craig melvin. thank you for watching. [music playing] welcome to "street signs." i'm karen tso. these are your headlines an uncertain start to the second half us equities are mixed as america reports a new daily record of more than 47,000 cases dr. fauci warns infections could reach more disturbing levels >> i would not be surprised if we go up to 100,000 a day. hong kong police fire water

cannons and make the first arrests under the new law and chief executive carrie lam defends the decision >> translator: clearly the decision under one country send showed determination and prove on the system and shows the high degree of trust of the central authorities in the hong kong government germany's jobless total rises by 29,000 taking the unemployment level to almost 3 million people as activities contract in june airbus with jobs on the line as they tell staff the crisis is far from over. bracing for a mighty battle. welcome to the show, we are

closely tracking some data we've had lower pmis the eurozone number crossing the manufacturing pmi, 47.4 up from 46.9 still suggesting contraction taking place across the eurozone one of the bright spots seeing the expansion. clearly saw weakness elsewhere >> let's push on to developments in hong kong police say 30 people have been arrested for violations of the international security law hong kong chief executive carrie lam defended the laws which came into effect on the anniversary of china with the british. it did astonish me that we saw many people going about their business shopping while you had

demonstrators right next to them >> that's right, karen we are back into the studio because earlier, we were standing on the foot bridge overlooking it but it got to the point there were a lot of people on the bridge and you could hear them chanting their slogans. they pointed their guns and weapons up to the breath and that got everybody off the bridge, so we retreated back to the studio here. we are about 15 hours in since the national security law has been instituted and we've had dozens arrested. more than 30 arrested for illegal assembly, violating the national security law and possessing threatening womens.

and one man and one woman holding hong kong security flags. that is against the law just imposed and put into effect last night. we had a chance to hear from chief executive carrie lam this is the first time she comes out to hong kong people and is being able to answer questions on the law she says it untrue the you in-law will undermine the one country/two systems. >> translator: one country two systems is totally unique in this implementation. there are bound to be problems and issues i believe if we are to make this work, there is room for

improvements or put more bluntly in the past 23 years as we implemented the system, we did see certain inadd kwasies. saying this is the most important development since the hand over 23 years ago today marks the anniversary of the hand over from chinese rule from 1997. with this law, it is special because it is the first time china has prom ill gated the law and circumstance vented the council. that is not normally how the laws are enacted in the city certainly questions as to how they are losing the autonomy since this has been handed over. 66 articles long six chapters long. it is not retrospective.

hong kong gets to exercise jurisdiction and gets to set up their own agency the central government has to do the same having mainland agent stations in hong kong. bringing you pictures here, you can see a lot of people on the street normally on july 1, we have the annual protest march against the government this year, it was banned by police, so it was a no-go due to health reasons the previous protest approved resulted in destruction and violence these people if caught are for unlawful assembly. that is near victoria park normally starting about 3:00, as we were just out on the bridge, there were pockets of people walking through chanting their

slogans. this is the tramline running adjacent to the starting line. it does look like many people want to come out and voice their option to the government or make their voices heard whatever it is the risk that they run now that they could be the infringement of the law and unlawful assembly 4,000 police have been mobilized. two water cannon just earlier, we saw the water cannon plowing through the streets. they were not firing water at the time it is mobilized. there on duty watching the development of protests. >> tells you how strongly they

feel about the action for july in the start of the half quarter month. so fwar an hour in, we have been perched stronger we have a technical issue. it is hard to get a clear picture today. the benchmark as you can see up a quarter of one percent as you dive into the market, we are a little choppy on the trade. the ftse has been higher at the outset has been lower it has been preferred in many of the core markets on the trade. i mentioned a technical issue as all stocks have been impacted by this issue the other markets is cautiously firm for smi stronger trades on the per

riffry we have a split between some of those losers and gainers. you can see well and truly outpacing some of those markets. basic resources going higher travel and leisure higher. there are patches of weakness around the defensive areas food and beverage, telecoms are weaker >> stocks in germany and south korea face brighter start. according to our next guest, dan kemp nice to read through some of your research because you put through a good argument. explain the logic to us and what

you have been up to. >> for sure and good morning as we look at investment, we are long-term valuations driven investors. not just into the second half but many years ahead longer term than what we see for the market for germany and the uk looks much more attractively priced than other markets in the u.s. we've seen this very broad based recovery it has been a little bit uneven

creating the valuation >> the dax saw to the tune of about 24%. >> i lost sound. >> we'll try to take a pause on this conversation while we try to restore that line we might scene in a quick break. it is not just the dax today, maybe it is us as well dan kemp with us plenty coming up as we continue to track the corporate stories. 15,000 jobs set to go at airbus but they say they are ready for a mighty battle. more when we return.

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you are watching "street signs. we are picking up with dan kemp. want to come back to your point around the german, south korean market very different the uk stock market lagged

behind less than 10% why do you see them all being improvers now as we head to the next space. >> yes, we see them all being attractively priced for different reasons. we look at the uk market also, if you look under the albon net, the importance of companies both of which deeply out of favor, that is driving attractive valuations on the other side on korea and germany. we've seen two markets there attractively priced, there seems to be negativity about the link to global economy as the forecasters look to the

immediate outlook and those stocks have been held back they've been held back for a long time. people have been worried about global trade for years although we've had extraordinary events of the first half, market leadership hasn't changed. >> saying there would be scares from the emerging market how cautious are you around some of those em countries putting south korea to the side? >> i think the scarring is still too early to see as we were reminded we are really still in this p pandemic is what we can

see across the board is a lower margin of safety th that seems to us to be more of a danger like in the u.s. as ever with investment. it is not just the fundamentalout look but the price you are paying >> thank you for that, dan kemp morning star deutsche bank is experiencing an outage affecting all stocks listed on the dax stock exchange in prague, bud a budapest and vienna.

today, the first day of the second half. we'll continue to watch the boards for the update. let's push onto the big story wirecard's administrator has said many around the world have expressed interest in the firm failing to intervene in the practices in time and choosing to protect customers from short sellers. due to testify to the parliament later today. >> when has been evident is that some of the financial services they've been involved in is a very new part of the economy what investors will be looking to pick up some of these assets if they can?

>> rightly, these are competitors and private equity investors and the insolvency administrator. i guess the interest is vital for those part of the company which is like the core of wire card but also the business they actually acquired themselves for proven substantial revenue they've proven here in germany on the stock market swings, there is a lot of intraday making money. in germany, the discussion will concentrate on barfin and how fintech will look like the future of the current bafin president is at stake. we spoke to the vice chairman of

the german gallet and member of the finance community and german bundes we asked him whether he felt he would have to resign >> caller: he would have to do a lot of explaining. under the eyes of bafin, we saw the biggest stock market scandal in recent german history as you have explained to your listeners, bafin was more busy pursuing journalists who wrote about dodgy business practices >> some are calling it germany's enron. others are saying the current moves have to be

quickly. the future form of the regulator has to have some real power to also go into the companies and have like the possibilities to search companies, et cetera, which is currently not the case. we have one of the lamest so to say, regulatory powers in europe i guess this is bound to change and most likely the germany system needed a wake-up call until then, there was no power with the regulator and also apparently no interest in the way they ordered those companies. thought fully i would say. and that, back to you. >> thank you very much a warning that the airline will slash 3,500 jobs if they refuse to take pay cuts

demanding the best paid captains take a 10% cut and lowest paid flight attendants take a 5% reduction. ryanair will fly more than 1 million passengers this month as it resumes flights to europe now plans to reopen over 90% of routes airbus shares are lower after the company said it will cut over 15,000 jobs saying it is necessary for the industry airbus is dealing with the gravest crisis the industry has ever faced you can hear it in the airline announcements talking about cut backs. there will be fewer airlines flying and why they'll need more aircraft delivered that's right we've seen airlines fighting for survival and trying to delay and

cancel some of the orders with the norwegian canceling 75 orders they have to get to this new environment after 10 years of growth they've said they have to make these arrangements to survive. they've announced in the previous weeks that some difficult decision would have to be made as they were bleeding cash at a rate here. now we are waiting for the details of the announcement. from airbus in the history of 15,000 jobs, close to 10% of the global work force. boeing recently and where they have already reduced the output at 30% some fixed cost that had to be addressed with the future. these job cuts have been

announced. 5,000 in germany, 5,000 in france, 1,700 in the uk, 900 in spain and the rest around the rest of the world. this is the gravest crisis known in history now where are the cuts to be made by next summer which is quite swift for a plan of that scale. we heard from the french junior transport saying he was hoping a lot of those wouldn't be redundancies his comments came through saying the french government would keep an eye closely and hope that most would not be compulsory and came on the back of some union saying it would be an all mighty fight. and they said it would hold at

2,000 out of the 5,000 could be saved. so maybe a save from investors about how much cuts could come through and be made in the near future also the furl owe scheme that had been accepted. so some workers will stay on that for longer. also retirement and early retirement so negotiation starts now for the unions for hoping to wrap the job cuts by next summer. >> thank you let's take another look at french company renault which expects car sales in france to continue to recover in third quarter. auto sales are still seen falling by 20% this year outlook remains uncertain. comments come after new auto regulations in the country rose in june rebounding from a steep

decline in may coming up, could green aluminum be the answer to the recovery more after the break we're going through a really tough time right now, all around the world. and covid-19 is still impacting so many people. if you've survived it, then you're the heroes we need. the plasma that's in your blood can literally save lives. but we have to act fast. so please donate. you fought for your life. now, let's work together to take down covid-19 to donate plasma go to thefightisinus.org

welcome to "street signs." these are your headlines today an uncertain start to the second half equities are mixed and u.s. futures are lower. the u.s. reports a new record of more than 47,000 new cases dr. fauci warns of new levels. >> i would not be surprised if we go up to 100,000 a day if this does not turn around. hong kong police fire water cannons and make the first new arrests. calling out foreign interference and carrie lam speaks out. >> translator: the implementation of one country,

two system and shows that this is improve upon the system the high degree of trust of the central authorities in the hong kong government. >> more evidence of an initial recovery in eurozone as manufacturing activity rises in june with the final pmi heating up airbus puts 15,000 jobs on the line telling staff the crisis is far from over and could get worse. bracing for a mighty battle. >> we've been tracking the recovery they've been betting on the final readings in june

for the uk, june market manufacturing pmi is still out from that market it is expanding. that is the good news for the sector let's take a quick check we've been getting mixed signals. the dax has been off track because of issues. the french market is down but a quarter and reversing trading stocks now down by a 10th. choppy action there. we are moving from the range improving the position now up almost a third a percent slightly lower from the italian market getting a little more action on boards now showing improvement

one of the better performers as we start out the second half >> u.s. futures. we have more from the fed coming up today the market is just a little cautious before the start. there has been a tug of war about the reopening of economies that has been positive for the trade and the reopenings causing coronavirus spikes we've wrapped up the month of june we are looking at the wti trade and appetite for safety too. >> germany's economic institute ifo estimates german gdp plunged 11.9% in the second quarter compared to the first.

expected to contract 6.7% projecting growth of 6.4%. germany has begun the six-month presidency angela merkel added she will look to advance digitization and green policies calling for low-carbon aluminum to be used as part of the recovery package saying firms should be dropped as investment of more climate friendly metal ramp up with us, can i ask you about what you are calling for here. we are watching out for recovery measures the french president enacted or improved by this month what are you hoping for in terms of green initiatives

>> you are right as europe reifies the economy, it is really important, we don't have unintended consequences europe doesn't manufacture aluminum most of it is imported without a definition of low-carbon a aluminum. they actually suck in high-carbon aluminum from china even though it is done in supporting green vehicles. given the huge differential.

ours is just 2.6 tons. given this huge differential in the foot print >> we've been tracking what you've been up to with this low-carbon aluminum. it has been an interesting journey. flushed out of the budget in tariffs and carbon trading allowing bigger polluters. are you saying that doesn't go far enough now >> absolutely. because there is not enough transparency of many of the important deals that support

manufacturers like aluminum. we need to be clear where we are not just sucking in high-carbon materials. there is no point of europe turning off the power stations if we are just ramping up. we were saying let's have zero tariff on the metals and clear transparency and a proper definition of what it means. we'll sign up for whatever the commission decides let's not sleep walk into sucking in high-carbon imports in the unintended package. >> there are mixed signals what we've heard from french president creating a battery

here for electric cars that would be encouraging if we are trying to take down the contact for new vehicles on the other side, you can see the motivation of the recovery we know if you change the playing field, it can change the regulation and have more unintended consequences. are you concerned maybe leaders might step back from unintended consequences at this point >> the moment, we don't differentiate the difference between high-carbon and low-carbon products, which are essential. we know that long-term regulation, for example, around automotive can be a driver of change and growth.

so smart regulation is actually a good thing what we are calling for today in our vision is exactly that free trade in low-carbon vehicles and full transparency so businesses and consumers can make -- don't make them perfectly the enemy of the good. let's get something up and running this summer as part of the eu on these things and drive it forward this autumn as part of the green recovery. everyone wants to build back better today, they are coming up with practical suggestions of how we can do that and protect those jobs here in europe. >> you are the first european secretary speaking about this sector what are we seeing on the demand side has there been any recovery?

what impact are those having >> sure, there was a big fall of demand as industries across europe shut down at the end of the first quarter. that obviously had an impact we saw the that fall as a result the electric vehicle market which is very important. we are seeing a pick up in the price and val assumes. it is a challenging time out there. make no mistake. we are still dealing with the

impacts on the ground of covid-19 this is by no means over >> what do you think about the aerospace cuts clearly the aluminum going into aircraft in the future what are we facing and how long do we look at that impact in that sector because of the impact on aircraft delivered >> it does look like this is going to be a long-term impact on aviation. maybe this means it will need smaller, more fuel efficient aircraft that means more aluminum not only is it sustainable but super lightweight. i think across industries trying

to make more transformation and cost effective trying to make many steel there is growth in independent vehicles where analysts are seeing significant demand growth where we expect to be a key supplier of that sector >> thank you for meeting with us today. facebook has designated a group known as the boogaloo group for violence joining a list of 250 groups categorized as supporting terrorism around the world the move comes as facebook comes under pressure companies calling for it to do

more to stop hate speech misinformation fedex shares up after the u.s. giant posted earnings the company's profit almost half from a year ago as home deliveries surged but more profitable deliveries suffered revenue slipped. the virus has harmed almost all business and declined to provide a four-year forecast coming up on the show, not on the list. eu officials confirm americans still face travel restrictions as the block opens up to international visitors

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america has suffered its bigge biggest one-day spike. texas reported another daily rise california and florida also logged sharp up ticks despite moves to reverse lockdown plans. the u.s. cdc estimates

2.5 million people in the country have tested positive for the skeez. testifying on the hill, white house dr. fauci said he was extremely worried by the figures. >> we are going in the wrong direction. if you look at the curves of the new cases. we need to do something about that quickly short answer is clearly, we are not in total control right now we are now having 40 plus thousand new cases a day i would not be surprised if we go up to 100,000 a day if this does not turn around and so i'm very concerned >> the europon union has decided to reopen the borders. america is not on the list as u.s., russia and brazil are not deemed safe countries. we've been tracking the news

>> absolutely. uncertainty still around us not just for european citizens but travel and tourism that's when this story began and european agents zietded to close the borders to contain the spread of the virus they've been advised to lift travel restrictions and external borders in the first phase, there will be 15 countries exempted from this restriction. 14 to 15 because china is in the list as well this is dependent on whether chinese authorities will allow for european travelers to go there, which is not the case at

the moment this will be reviewed every two weeks. it could change, for instance, we could see some countries being added to this list or removed. that will depend on how the pandemic will evolved across the world or at least from european officials yesterday. one thing we need to keep in mind is the implementation this restrictions will be lifted starting today it is important to monitor for every european country to do that they need a coordinated effort one final point bound to the travel restrictions. we need to monitor whether there could be some political tensions rising we know that back in march when

president donald trump decided to close external borders to european travelers the eu did not enjoy that. let's see how the u.s. and other countries worldwide will react to this move from the commission to also lift the travel restriction starting today >> thank you for bringing us that update we'll hear more. >> that will be later on today speaking to the mns minister. >> that is first at 13:45 cet. the non-farm payrolls will be

released expecting to see 3 million jobs added and 2.5 million and could take the jobless rate 12% lower. linkedin says it will help retrain workers. as many job seekers face the toughest labor market in a generation speaking earlier this morning, many of the most sought after jobs in the future won't require a university degree. >> the beauty is that you don't need formal education. you can develop the skills you need on line for full transparency, i dropped out of university. it wasn't for me i understand people that go directly to work it very much depends on your life stage about whether it is relevant to you or not

>> u.s. schools have taken the top spots. the ceo says the report is of extra value this year as students seek reassurance that their studies can translate to employment at the top of the list, the leading executive mba provider take us through this year's rankings >> yes qs has been producing business school throughout many years we have seen consistent performance from wharton followed by iese in spain, followed by hec and mit and then london business schools.

>> there are five different metrics you take into consideration. >> sure, qs has been a consideration. we are a mission-lead organization we put the student first building through international building development we put employability at the heart of our ranking over 52,000 employers have responded to our survey. employer reputation for those programs make up for 30% of the weighting of this. we look at career outcomes making up another 20%. based on reporting income out

come we look at a combination of representation with academics around the world and the research and citation output of these business schools the other two are the executive profile and the more senior the people who are in your program, whether c suite or senior executives, we feel gives you a richer experience and finally diversity. we believe in diversity. more gender diverse and internationally diverse, we believe the richer the experience >> for iese spain and some of the programs offered by national university of singapore. there have been big improvements

here why such significant change over the pastyear these programs are competing for dynamic and faculty we'll actually see corporations coming in line. >> on the one hand, you can see people have more time and it might be time to embark on the study. that said, the price of these are quite high

what are schooling doing to attract people and changing during covid-19? >> you are right covid-19 is creating flux. i think the programs will see some dip in demand in 2020 they are across the demand for higher education somewhere around the cost of $100,000 that would cause companies to hold back in terms of sponsoring their executives in these. it is the corporate sponsorship that is likely to be paired back in the 2020 intake that means a high portion of students will be self-finances

qs has been monitoring supply and demand typically in recession, we do see an up tick in demand for full-time programs because people may think the use of the redundancy money is good use to vest in their education. >> thank you for joining us. we've been close in tracking developments in hong kong as the new national security law has come in force. we leave you these shots as we wrap up the program. i'm karen tso. thank you for watching "worldwide exchange" comes your way next you say that customers make their own rules.

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it is 5:00 in new york your "top five at 5" one for the record books ahead, making money manager for hundreds much millions he may be preparing for more turbulent times ahead. the number of positive covid cases continuing to climb. one state seeing the biggest increase on record americans not welcome. eu with travel restrictions. first states