a very warm welcome to you. this is worldwide exchange. i'm wilfred frost. >> i'm carolyn roth. these are your headlines from around the world. >> europe and asia catch wall street's cold. the dow and the s&p erase more than half of the week's gains. >> chinese premiere says the economy is not heading for a hard landing. >> dell banks big on china. the firm pledges to invest $125 billion in the country in the next five years in a move that will create 1 million jobs in the country.

>> the brokers still love apple. the stock remains on most out perform lists. coming up on the program. s&p cuts brazil's credit rating. also the case against a rate hike is at its most compelling. find out why he wants the fed to wait. we break the latest results later on. something new today. >> new hair cut? >> it is a very warm welcome to

london, susan. >> thank you. it's good to be here and great timing to be here. what's happening in asia and how it's effecting global markets. >> the last month or so has been the most crazy. as you say, the real spark for this correction is china. >> it has been about china and what they're going to do with the policy response. do they know what they're doing at this point. people thought what's happening in one corner of the world we don't really care. we don't just have china but the fed. they're saying please don't hike and then the emerging market chiefs, some of them saying i think the fed should hike. >> and japan, the biggest points

gain since 1994 we saw yesterday. it's circling for all of us. >> burt then we tip back the gains in the overnight session. it's not a surprise. they simply evaporate but wondering how we're setting up in european trade today, wifl. >> yes, thank you. have a look at european markets. yesterday we had a strong set of european equities until about an hour before the close. then we let off about 1% of the gains. that sell off came as u.s. equities started to sell off and by the end of u.s. trade we eradicated about 1% of gains. so something happened over in the u.s. largely it was a descent jobs number. making people think we might hike rates in september. that's carried through today to the start of today's european trade. we opened about a percent down and strengthened over the course

of the last hour. we're now down 0.5%. let's have a look at the individual markets and you can see how that plays out. ftse 100 down 0.4%. that was very strong yesterday. commodity sectors did good yesterday. germany down about a quarter of a percent and france and italy down 0.4 and 0.5%. yesterday was very strong, indeed. particularly japan up 7 p.7%. also for china. doing well because of hopes for further easing. that was the predominant easing for it. also because we had inflation data out of china. a bit of mixed data. consumer prices with 2% growth the fastest pace for 13 months but producer prices down 5.9% and that trend very weak and continuing to worsen so that's weighed on the region this morning. now speaking at the west summit,

premiere league said he was comp ten that the chinese economy would overcome recent jitters. >> there are signs that economy is sliding out of the range. we have adequate capability to deal with the situation. the chinese economy will not head for hard landing. >> jeff is at the world economic forum. jeff. >> yeah, hi. i thought it was a fascinating speech in the round. i think premiere li did what he had to do which is come to this event and use it as an opportunity to try to settle some nerves and clearly again with the inflation data and the ppi number what we see is a continued risk to the down side for the overall economy and some challenges as far as deflation is concerned. but i think also he had to come

here and talk about the currency. so we got a message on what the chinese government intends to do with regard to managing the currency and is there any prospect they'll try to devalue it. let's listen in to what the premiere has to say. >> china is such an open economy and traders take such a big portion of the economy. exchange rates more market based and with flexibility is a good thing for china and the whole world. under the key issue, need a standard or principle of the sdi requirements and it can be and could be part of it. but the whole starting point is the chinese economy need a flexible exchange rate.

>> well, clearly that was the imf, the number two at the imf. i spoke to him after li's speech and we talked about that issue of currency liberalization. he feels it's essential that china continues along this path. it's the only way really that the reform program for the country as a whole is going to work. but he disagreed with the contention that maybe the chinese would try to competitively devalue to get trade advantage. so interesting conversations being had here. the question is really whether what we had from premiere li is just talk or whether the chinese are serious about executing on the reform plans that they have set before the business community here. back to you guys. >> jeff, i hope you're enjoying the lovely port city and lovely time of year there to hold the

conference. let me ask you about the fiscal policies announced this week. i thought and correct me if i'm wrong. they said we don't want to do the same stimulus package from 2008. hence why we have the asset bubbles and take the speed off of the speedometer. again ramping up and trying to get through the new spending plans once again on the fiscal side. >> yeah, a agree to an extent that they have said they're not going to replicate the kind of stimulus they provided for the economy after the global financial crisis. but i think there's probably a bit of frustration that they're not getting more traction with monetary policy. there's been an extensive program of rate reductions and rrr cuts running for the last few months and while it may have rested the speed of the decline

it hasn't turned around sentiment on either the economy or as far as the stock market is concerned. so perhaps an indication that they feel that something more is required by stepping in with a little bit of modest fiscal expansion. and if you talk to the economists they'll tell you that monetary conditions are still tight. if you want to borrow money in the banking sector, real rates are plus 5% which seems expensive when you look at potential rates of return in some industries at the moment. so maybe this is just an attempt at fine tuning to try to funnel some spending into areas of the economy that they still think will lead to improvements in growth numbers. i'll send it back to you. >> that's right and spending in the stock market since they're thinking of redoing some of the dividend taxes in china. good to see you jeff. let's talk about china and dell

is betting big on china. planning to invest $15 billion into the country over the next half decade and the company says those investments will add about $175 billion to imports and exports sustaining more than a million jobs they say in china. last year dell founder and ceo michael dell spoke to cnbc about the importance of doing business in china. >> we continue to invest locally in china. building our business there. building up relationship with local suppliers and partners. it's got it's complications as you suggested, but it's a very very large and super important country to be par gattis patdti >> but in 2010 dell announced it would spend about $250 billion

on procurement and other investments on the next decade in china. the second biggest market outside of the u.s. cnbc also learned that the blackrock ceo was recently invited to join a discussion on the volatility that's been rallying the chinese markets. our sources say that mr. fink travelled to china in late august to meet with officials and he was in hong kong for half a day as well before journey over to the mainland. but let's tell you about china and the market dynamics feeling the ripple effects in the rest of the world. joining us here in london, fred newman, hsbc, i think they brought you in on my day one to make me feel more at home. >> i flew in specific for this event. why not be here. >> i feel the love, fred. >> broadcasting globally.

>> yes. >> how much love do you feel for china right now? >> i give them the benefit of the doubt. they got a bit of a bad wrap. they're saying china is collapsing and they're going to join the currency wars. i don't think they are. they're trying to reform the regime and they're trying to stabilize things. we always said don't go out and do a massive stimulus. we don't want to see another asset bubble so they're doing it incrementally and they're trying more than we give them credit for. >> isn't there a sense that so much focus has been on stimulus whether it's fiscal stimulus or monetary stimulus? maybe the reforms announced by officials the two years or so when they came in office, this is something we need to focus on to sure up investor confidence.

>> they did have some progress like the capital account and interest rate liberalization. we're still behind the agenda they laid out a couple of years ago and perhaps it will take another two years before we see real reforms breaking through because we're in sort of a stabilization period. the economy has weakened too quickly for comfort so now it's all about trying to stabilize things first before you take the painful decision of reforms. >> we need to see more in order to get the stabilization. the monetary policy liquidity taps have been on for quite sometime and hasn't fed through yet. susan was talking about the big fiscal policy lever with jeff. are we going to have to see that from them to get the level of stabilization they want. >> you have to make sure that the floor doesn't break away so

more stimulus is required on the fiscal side as well. that's how they stabilize things. particularly with the housing market or construction still weakening, need to add more infrastructure, that's the first order of business and they're doing more than they let on. susan will know you hear on a daily basis how there's individual programs rolled out to sure up infrastructure spending. that's what it's about at this point in time. on tremendous forms, some of the reforms are tricky like closing downstate owned enterprises would in the short-term dampen demand even further. that's why they backed off from that for the moment. >> you're going to stick around for one more chat. we'll talk about the fed. in the meantime maybe we can get you some coffee or tea. let's talk about the other top story of the day. apple shares lost nearly 2% as

tim cook unveiled the latest products. while some were underwhelemd most remain positive. shares on apple suppliers had most ending the day lower. european suppliers also underperforming today following the event although dialogue semicon up by .3%. do stay tuned for that. >> that apple launch yesterday has us talking here on the show. we want your involvement as well. apple looking to push into the business space with that increased size ipad but can you imagine your boss spending a thousand for every one in their office in order to get the new ipad pro? do e-mail with us your views. worldwide cnbc.com.

i wonder what you think. mine would be fat chance. i don't know if our bosses are listening. maybe they can surprise us ahead of christmas but $1,000 per person isn't likely to happen. >> even if we have an on air union here. we could all ban together and try to get one. >> what do you feed them for? if you already have an ipad what do you need the extra one? >> because all the corporates run on microsoft operating systems the security hasn't been for them to adopt ipads. that's moved forward now. >> we got the desktop. what do you need an ipad pro for. >> we're going to get free ones. >> let's focus. >> i'm sold. >> let's get a break and pay

some bills so we can afford the new ipads for us here. coming up we have five reasons not to hike. why larry summers think the federal reserve should be holding steady when it comes to increasing borrowing ratds.

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big gains in the nikkei yesterday but today we're in the red for nikkei closing down 2.5%. this after july core machinery orders hit the lowest level since 2014. raising concerns of a slow down in japan. elsewhere, they suffered sharp losses after they cut rates to 2.75%. the central bank governor added further easing was likely to come as you can see 1.3% of declines against the u.s. dollar. let's check in on broader markets in asia. sri is standing by for us in singapore. >> we called that one on capital connection last week when we had sean saying before the ooecht expect to see some easing and cuts. you heard it here first. let's have a look at the broader markets. it's risk off reversal mode for

asia pacific and remember that monster rally that we saw on the nikkei yesterday. we're up by 8%. it looked a little overcooked. your market came down. we're off by 2.5% at the settlement but let me say that the valuations remain quite compelling. they're not inexpensive but at the same time if you look at the trading between 14 or 15 times earnings so relatively inexpensive compared to their peers. the china data disappointed the market but we're at this point where it's consistent with continued sluggish growth. inflation numbers. ppi and cpi are very consistent with being in the thick of a deflati deflationary environment. that was a catalyst for the reversal in the nikkei. so risk off broadly the asian markets still prevail ago head of the fed next week. that's where we stand.

back to you. >> let's take a look now at fixed incomes. we have questions about whether or not the fed is going to hike interest rates next week so there's still a lot of deliberations on exactly what they're going to do. we're looking at declines when it comes to ten year. we had the yield still sitting at 2%. prices have come down a bit. yields have gone up a little bit. still it's 50/50 when it comes to the call if not below 5050 for the rate decision. meantime a little bit of gains today. there have been declines across the equity markets. maybe people are getting more interested when it comes to fixed income. let's look at commodities as well. we have brent crude and west texas in play and a little bit of an advance up .6% and brent crude seeing a little bit of

demand today. copper may be up 1% but far off the levels we've seen over the years. carolyn. >> the fed must stand still on rates a cording to former u.s. secretary larry sommers. the federal reserve should resist the urge to pull the trigger amid global growth concerns and pull back on wall street. he says the case against a race increase is even more compelling than two weeks ago when he called a september hike a serious mistake. >> meanwhile, central bankers have called on janet yellen to lift rates sooner rather than later. the senior deputy governor named uncertainty for the turmoil. the bank warned that a rate hike could destabilize developing nations. to discuss the possibility of a fed rate hike further joining us from morgan stanley in london is the head of european fx

strategy. ian, let's put this simply, when do you expect them to hike? >> yes, our economists are looking for the fed to deliver the first rate hike in december. this time around we're unlikely to see the moving as you are just discussing it is a fairly split debate within the markets. if they did surprise the markets with a move this month it would have an impact on currency markets. i think it will provide a little bit of a shot through currency markets so that's something to be aware of. traditionally when we have seen the fed going into a rate hike cycle they had the tendency to prepare the market for that. the debate seems to be open. we don't believe the market has been prepared for that initial

lift off as yet so we think it's still very much a focus on the september meeting. >> stick with us. i'm going to bring fed nred new in. how does that impact china? >> we think december is more likely. however i'm not so sure that it's going to be as destabilizing if we get a surprise move next week. at least in asia. i think the idea -- and we heard it from the indonesian central bank. get it over with. if we get a dovish hike which is the fed comes in with a hike and we're going to hike now and then and monitor developments that might be more reassuring than saying no hike but we'll like at some point in the future. >> back out to you, how do you position in terms of your u.s. dollar, your euro, your pound holdings for next week. you say you're not expecting a hike then. you're only expecting one in december but as you just said to

us there's a chance they might still do that. they might still surprise the market and that would be a big shock to currency marks. how do you want to be positioned? >> yes i still think there's a case to be bullish on the dollar. we believe it's going to form even if the fed doesn't move until december. we think the dollar is going to strengthen against the commodity related currencies and against the em currencies as well. we think the dollar is still in a very good position to maintain it's bullish trend. ian from what i understand a lot of traders here just want the fed just to go next week. let's get this over with, right? you wouldn't agree with that? let's get it out of the way and focus on fundamentals instead? >> certainly i believe the longer term, the focus will return to fundamentals. that's one of the reasons why

we're likely to see the dollar sustaining this move. traditionally we've seen the dollar rally going into a fed rate hike cycle, but it's not exactly consistent when we look at previous experiences. this time around because the focus will remain on the fundamental picture that the dollar will maintain that strength. so we do think this is a continued sustainable dollar that we're still in. so even post the first rate hike we still look for the dollar to continue with this upward trend. >> thank you for joining us. fred also. thank you for joining us today. much appreciated. do tune in later. special decision time program. myself and nancy to bring you analysis of the u.k.'s monetary policy.

after the dow and s&p erase more than half of the weeks gained. >> despite more disappointing data, the chinese premiere says the economy is not heading for a hard landing. >> dell bets big on china. managed to invest 125 billion in the country over the next five years in a move that it says will create jobs in the country.

>> a lukewarm response for investors but they still love apple. the stock remains on most out perform lists. >> let's check in on markets and we're seeing declines sell off of close to 1%. the dax is down and also lower by similar levels a long with the ftse mib. the lovely chart there telling us what we're seeing across the rest of the european markets and it's close to a sell off. >> in the bond markets yields lower for most of the core paper but you're seeing the treasury yield higher at 2.19%. treasury yields did fall yesterday though. we saw the ten year auction seeing higher demand. so attracting lots of buyers.

in the currency markets little changed in terms of euro dollar. we're at 11194. keep an eye on cable today as we get the boe meeting and the minutes. that was really interesting early on today. we did get some indication of some further easing by one of the politicians from the lpd. we saw a knee jerk reaction but we're back at 12079. >> let's have a look at the biggest individual movers here in europe today. up 1.9%. near the stoxx 600 after they beat with an 8% rise in the first quarter sales numbers. also let's have a look in shares after the clothing retailer posted a 7.1% rise in the first half. the company sold more products than expected at full price. finally morrisons is off pretty sharply as you can see down 4% after the company posted the

lowest profit in 9 years. britain's number four supermarket also cautions it's turn around would take time and required sustained investment. >> apple shares lost nearly 2% in wednesday's session as tim cook unveiled the company's latest products while some were underwell med by what they saw most brokerages remained positive. josh lipton has a wrap up of the product launch. >> we are about to make some monster announcements across several of our product lines. >> a big step in the enterprise and under the hood upgrade on your wrist and your hand all unveiled in san francisco as apple gears up for the key holiday shopping season amid a sliding stock price and investor concerns about a slow down in

iphone sales. one of the big worries, china. but cook announcing that the company saw 75% year over year iphone sales growth there. the iphone 6s and 6s plus featuring enhanced camera capabilities along with touch which is a unique way to use phones. pay $32 a month and upgrade phones every year but will the refresh and pricing plan ease investor concerns about the stock. >> you have less than 30% of customers that upgraded to 6 and this is going to be a catalyst and it's a prove me situation, a white knuckle situation. but they layed it out on iphones, apple tv, on the ipads. you walk away from her confident. >> most of the attention on the refresh of apple tv three years in the making. the new set top box addresses the needs of the next generation

of mobile and at home viewing. >> we believe the future of television is apps. this transition has already begun. >> the new apple tv will include it's own operating system and integrates siri into a new remote and will allow you to shop and play games and will be available at some point over the next two months. from the living room to the conference room apple also introduced a new ipad pro. a 12.9 inch device cook says is the clearest of computing. it comes with an optional keyboard and stylish called the apple pencil. a product steve jobs famously hated. but if the pro reenergizes sales there could be a lot to like for investors. for cnbc business news, i'm josh lipton in san francisco.

>> shares in apple suppliers in japan had most ending the day lower. most suppliers underperforming today following the ooecevent. joining us now is the head of telecommunications investment research. always great to have you on the show. a lot of investors and apple fans were underwhelmed. >> expectations were set high and in the short-term investors may continue to be disappointed. you may get downgrades but on the two year view on a long-term basis this stock is still on our buy list. >> but why is that? because it's all about iphones. they make up more than 50 or 60% of their revenues and if you take a look at the recent upgrade years, 2014 for example we saw the 5s upgrade.

that only saw a 10% up tick in sales where as the new launch, the 6 saw a 50% upgrade. why are you still pretty positive on the stock? >> it is all about iphones just now for the reasons that you mentioned but as i keep trying to say it's a best in class ecosystem and there's two trends that will send the stock higher. it's moving into entire new industries and apple is transforming from a hardware company to services company just like ge with aircraft engines. we saw the first bits of that in terms of financing iphones. it will move into big data services and mobile payment services and give recurring reven revenue. >> we have spoken about the fact

that you thought that apple tv could be a big game changer for the company. was the announcement yesterday a game changer? >> it was a disappointment for me. i was expecting the announcement of a pure internet tv and that's something that allows apple to see live tv programming. other rivals like sony have already done this on their playstation streaming service but apple hasn't. they're selling this as an app based store. probably because it hasn't got enough content and it hasn't refined this live streaming technology. >> people were excited about this new pen which cost $99 on top of the new probut isn't this going away from the purist vision of steve jobs. weren't they saying this is a larger iphone and ridiculed any accessories but they're doing just that. >> i think it will appear to a

minority of people. what's really important is the fact that microsoft is now a partner. they were on stage yesterday with apple and it's moving very heavily into the corporate world. so there was a presentation from a federal devices kaen. fr company. and from adobe and microsoft. it's moving from consumer services to business services. >> thank you for joining us. managing director of cm research. now as we discussed earlier, of course apple pushing into that business space and we have been asking you, would your boss spend a thousand dollars for everyone in the house in order to have an ipad pro. we said wishful thinking for those of us. he tweeted in saying not everyone needs a desktop computer. an ipad is cheaper and mobile and has less viruss. >> i don't know about that. >> they crash less than a

desktop don't they? >> i don't know. >> i agree with him. >> probably because people use ipad less. less than their iphones because everyone is glued to their mobile devices. >> as you were pointing out with the accessories, with the keyboard it looks so like the surface pro and they're morphing into what we used to call a desktop. >> do you find it interesting that they are asking other companies to join in the event? adobe and microsoft and all of these outside players for collaborati collaboration. i stick with what he was saying as well. i was hoping apple tv would be a game changer but no one on the street is that excited about the announcement. >> we haven't even touched on

the apple watch band that's going to cost $1,000. >> i missed that. >> how could i miss that. >> crocodile probably a assume. >> tech merges with fashion. continue to get in touch with us throughout the show at cnbcwex is the twitter handle. >> let's talk about amazon. amazon is extinguishing it's fire smartphone. get it. that's a pun. and that's just as apple unveils the latest iphone models. the move was reported by the verge and geek wire and later confirmed by amazon itself. it has depleted it's inventory and won't be restocking the phone but will still offer customer support. amazon launched it's fire phone last year but it was met with lackluster sales. not many people were buying it: seeing declines today along with the rest of the broader market. we're going to get a break here but still to come on the program, bringing wall street to

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it again in the coming months. back pedaling by brazil's government on its budget deficit targets and division among fiscal policy. the move comes as brazil's economy is in recession with second quarter gdp shrinking by 1.9% and the only thing i can say to this is about time too. once again the credit rating agencies seem to be so reactive rather than proactive when we consider what brazil faced over the next couple of months and years. >> during the financial crisis we accused them of being behind the curve. it doesn't mean too much for brazil because for many they would be forced to sell their holdings and assets once it's at least two credit rating agencies so you still have the other two, the big ones, moodys and fitch but it's a wake up call to push ahead with spending and bigger

reform plans. the question is will they actually do that? >> maybe they're spending too much. does that mean they have to borrow at higher rates to pay for the olympics in 2016. >> that's a completely different topic. >> a lot of that is already funded i would imagine although no doubt will run over budge but when we talk about the fact that ems are under pressure and currencies over the last couple of months this summer it's particularly been a perfect storm of issues facing it when you add in oil price exposure and of course political corruption and uncertainty. doesn't help at all. >> no it doesn't. >> so not totally surprised. >> i'd be curious to see what the currency does on the back of that and the potential fed hike next week. >> how are we looking at in commodity market. >> we were just talking about brazil. let's look at the commodity classes. west texas crude seeing gains of 1%. you're paying about $44.60 per barrel. we're looking at brent going in

the same direction. there was divergence to kick off this week and gold and copper, the out performance probably coming from copper now despite the fact that we had ppi in china. that's producer pricing falling for a 42nd straight month so still not a lot of up tick there. now speaking of oil and commodities, in a first on cnbc interview at the world economic forum in china we had the ceo of air asia. the budget airline in asia saying he predicted the oil route glut a long time ago. >> i've been on oil bear for a long time. but also like china. the drive to have clean air and fresh air means less burning of fossil fuels and more electric and renewable energy. oil is about where it should be. maybe lower but we're 50% hedged so we have another full benefit

of low oil. 2016 is fantastic. we're unhedged at the moment and beginning to start hedging. that's a big plus. currency versus oil, oil has been a much better tail wind for us than head wind for currency. >> so you see 40 or sub-40 for sometime to come? >> i have been of that view but the market is the market and things change very rapidly but if you look at the fundamentals there's a lot of oil out there and i have been looking at the research, the cost of getting shale out is going down. the cost may have been high but the cost of extraction is not going down at an inverse curve. >> and air asia is unhedged when it comes to their fuel costs. a lot of these airlines have been reporting these unrealized fuel costs hedging losses that we see on the balance sheets but i would say given the strategy that air asia has taken sounds like he's putting his money

where his mouth is. >> that's a really interesting perspective. i wasn't aware they didn't hedge it. most european airlines yes they see a pick up in volumes if they can cut them a little bit there, they usually hedge down so they haven't benefitted that much from their oil prices. that's a very interesting fact. let's move on and talk now about greece. greek leaders have faced off for the first time in a televised debate ahead of the election on september 20th. the leader of the conservative new democracy party accused alexis tsipras of damaging the greek economy. tsipras responded by saying the international bailout had stabilize the nation and added that the compromise reached with greece's lenders may be painful but has positive elements. >> they're currently neck and

neck in the polls. >> poll situations also went to head to head on tv. he called the left wing opposition unstable. meanwhile the latest polls suggest the incumbent coalition government will retain it's power. >> danish authorities have closed railways as they try to slow the move of migrants north of sweden. it was closed when about 300 refugees began walking on it. this comes as senior u.s. officials say the nation plans to raise the number of migrants it takes in the next year by 5,000 to 75,000. meantime russian forces have started taking part in military operations in syria in support of the government that's according to media reports. this comes after u.s. secretary of state john kerry spoke to his russian counter part to express concerns over suggestions of russian military activities in the nation. hadley talk to me about the u.s.

priorities. is it the migrants? syria? russia? >> at the moment even though they've seen these images for the last couple of weeks in term of the migrants and devastating pictures that was wiped off the front page yesterday in the sense that now you're seeing real concern from u.s. officials on the question of syria because what we do know, we have seen all of these reports. there seems to be concern as to why they're doing that. if you look at the question in a broader sense, what's going on in syria. we don't need more military in that country. you have u.s. airplanes in support in operations against isis. you have hezbollah backed by iran. you have assad's troops that aren't doing very very well but still putting up quite a fight. and owl of these are creating

problems in the region and not just in syria but if you would subscribe to this world view of why russia does what it does in terms of their territorial aims and in terms of expansion, they only have one naval base in the mediterranean and that is in syria. so the idea that they're backing assad in some sort of play to push him as opposed to isis should be revisited. what they're trying to do here is make sure that they keep a foothold in the mediterranean. >> but we heard david cameron saying isis must be removed. assad must be removed. this really raises sere warehouse friction. >> this is interesting, isn't it? >> it changes the dynamic. >> the western leaders are still backing this antiassad move but we understand that the gulf leaders even raised the possibility of okay assad can stay as long as he and possibly russia who they're getting quite close to, at least the saudis

are, they're raising the possibility that assad might be able to stay if they go after isis and help in the fight against the islamic state. so lots of moving parts here and the west hasn't caught up yet. >> lots of moving parts. i'm sure we'll revisit this in the days and weeks ahead. thanks very much for joining us. >> still to come on the program, yes it's early but we'll get some earnings making profits stretch. we'll bring you athletic's wear retailers lululemon's second quarter earnings in 30 minutes.

dell bets big on china. the firm pledges to invest $125 billion into the country over the next five years and this is in a move it says will create over 1 million jobs. >> but growth concerns remain after another round of disappointing data from beijing. the premiere league says the economy is not heading for a hard land