The U.S. sees a surprise jump in unemployment numbers with softer hourly earnings data which prompts expectations that the Federal Reserve will pause its rate hiking cycle this month. NEC director Lael Brainard says the economy remains resilient and stable. Chinese property developer Country Garden has reportedly struck a deal to extend on-shore bond payments, pushing shares to a three-week high. Asian equities, led by the Hang Seng, are higher as a result. We are live at the Ambrosetti Forum on the shores of Lake Como where Italian deputy PM Antonio Tajani has told CNBC his country is considering withdrawing from China’s Belt & Road Initiative. Meanwhile, European Economy Commissioner Paolo Gentiloni claims the EU economy can avoid recession, despite the marked downturn seen in Germany. We are also live at the Munich Auto Show where an increased Chinese presence is drawing attention. However the CEOs of Mercedes and BMW tell CNBC that they remain unfazed by the new competition.

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