wanda and sunac also rising. 10%, adding over 28% gain on wednesday. rishaad: thank you very much indeed for that. sophie was talking about washington and beijing not getting along particularly well, to put it mildly. let's get to first word news. rosalind: talks between the world's two biggest economies off to a rocky start as the u.s. criticized china for its trade imbalances. wilbur ross complained about the trade gap in unusually blunt terms. both sides canceled scheduled news conferences in response. the open criticism is a change from the past. the two sides normally pledge cooperation. the u.s.n the gulf say and you can put forth a proposal to end the diplomatic isolation of qatar. include the groundwork for direct negotiations based on the accord that result in earlier dispute in 2014 and new measures to counterterrorism. of supportinged extremist groups, something it denies. france has raised the stakes on brexit, putting a figure on this so-called divorce bill the u.k. will be expected to pay to leave the eu. the economy minister said london

checking on wanda hotels.t the chinese government is screenwriting six -- scrutinizing six deals. it is falling over 3%. lined films are -- shares are suspended in china. rishaad: thank you. one man who is not exactly what you may call pollyanna about what's going on, particularly for the prospects of the world's biggest economy, the boss at one of the world's biggest asset managers. he's making headlines on our first word news headlines. that's right. blackrock ceo larry fink says the us economy is growing more slowly than expected, and the trump administration's inability to act is a threat. he told bloomberg that there are dark clouds building. black rock issued second-quarter earnings. revenue missed expectations for the fourth consecutive quarter. the united arab emirates says there is little likelihood of a speedy resolution to the qatar crisis because the saudi led alliance wants a deal that would endure. uae foreign minister says they need a clear signal that qatar will meet him on the position on extr

wanda's negative watch. the reasons behind that, next, at the pressure grows on wanda.s is bloomberg. ♪ so new touch screens... and biometrics. in 574 branches. all done by... yesterday. ♪ ♪ banks aren't just undergoing a face lift. they're undergoing a transformation. a data fueled, security driven shift in applications and customer experience. which is why comcast business delivers consistent network performance and speed across all your locations. hello, mr. deets. every branch running like headquarters. that's how you outmaneuver. anchor: tuesday in hong kong. it is a rainy day out there. the only positive thing is that the markets are murdering. the hang seng index at the highest level since 2015. that is some good news. we are 30 minutes away from asia's first major market open. betty: a little bit brighter over in new york. 7:30 p.m., monday evening. a nice summer, weekday evening in new york. market also close. just mixed i would say. investors are waiting for earnings to really move the market. you saw that with the shares of netflix. i am betty liu in new york

-- or wanda.as an ancient trade route that link these to the west and now the chinese president is looking to the past to paint the way for the future with a $1 trillion initiative to build infrastructure in more than 60 countries. carrie gracie has travelled the 7000 mile route from the mainland to the uk to assess what it may deliver. she spoke to me earlier north—west china. this is still very much in its early stages, it's a huge plan, it is all things to all men and women at the moment and it's very hard to work out which bits matter and which don't, but as you know, rico, the main issue here is china building an almost amount of infrastructure, roads, rails, ports, airports, pipelines, using up the excess capacity from its construction companies inside china and the infrastructure building that's gone on in these china over the past 20 years or so, bringing that construction effort to china's neighbours to boost trade at the end of the day, sell more chinese exports and create more chinese i

's market cap is only $8 billion, and the latest deal with wanda is over $9 billion.ily leveraged company. if financing runs dry, stockholders are left with a worthless piece of paper. rishaad: if you look at ever grande, we tend to be very with chinese developers, but they have been trying to do leverage. what else have they been doing? >> they have not been making those overseas acquisitions. also, they have been very nice to the government. 14% percent stake in a $1 billion loss, and the whole deal is $4 billion, so a huge loss. they have been nice to the government, so they are the good kids on the block suddenly. rishaad: what are the broader prospects for mainland developers? >> you need to play nice with the government. that is the biggest story that comes out of it. if the government wants to come into real estate development, give them a good price. rishaad: there we go. just sticking with evergrande for a moment. it has a triple a rating, while it is being classified as job, a diversions. asia corporate finance register andrew monahan is with me now. the pas

and wanda's finances. spanish authorities say a disgraced former banker has been found dead local media reports just miguel blaze up committed suicide. sixty nine year old is appealing a six year jail sentence after being found guilty of misusing company credit cards. in his time as head as head of the lender calf of madrid. i was at the height of spain's banking crisis. mike was later merged with seven other lenders and bailed out by the governmen. a british airways cabin crew are extending their striking to peak summer travel seaso. unite union began a two week walk out this wednesday. already voted to extend that action for a further two weeks in august. they've staged several walk out since january no long running dispute over pay. the carrier says it will do everything possible to ensure minimal disruption. results corruption scandal continues to claim victims in both business and politics. the latest is one of the country's most iconic brands of havana flip flops. issues are part of the jnf group own

>> we have had a long-standing relationship with wanda.h them in 2007, they helped us grow and facilitate the market overall. we have not seen any slowdown in network growth with wanda. they have been an excellent customer, a very good partner. we have rolled out our theaters three years ahead of schedule with them under our original contract. this year, things seem to be business as usual in terms of growth with wanda overall. the things that are happening and people are reading about in the press, you have to remember we are dealing with wanda cinema locally in china making local investment decisions, building local cinemas and local shopping malls. it has nothing to do with overseas investments. it isil now, we feel business as usual with them. they're ahead of schedule and have been a great partner. we have not notice anything from a roll up perspective or operating perspective with them. yvonne: great to get your perspective and dig into the earnings. jim athanasopoulos, iraq ceo from new york. -- imax cfo from new york. mcdonald's is

comics wanda has 100 shopping centers and they are everywhere.n the top notch locations in very good cities, we are not interested it. mention capital expenditure, that you keep a certain amount of cash on the mainland because of capital expenditure reasons. what are your plans for that? what cities are you looking at? have a lot of projects being built in mainland china right now. 18 and the last quarter multiplewe will open , office towers, hotel, plus other projects such as the refurbishment of the grand gateway and shanghai and the office tower there. so there is a lot of capital expenditure and new projects. new cities, we are always looking. david: what worries you the most about china that relates to your business? >> everybody is watching what s at the 19th party congress to see who will be the next generation of leaders. president xi jinping has been doing a wonderful job for the country, such as dealing with corruption. as long as the president's policies continue, there is no reason why we should not be optimistic about the future of c

. >> reporter: wanda watched as flames devoured the trees just a few feet from her house.aid she had one fear. >> that it was going to blow up. >> reporter: before that could happen, neighbors sprang into action using garden hoses to put out the flames. >> i was surprised i still had eyebrows when i was done. >> reporter: the fire changed course, ripping past the homes through the backyard, and into open space before burning on to a grassy field on nearby travis air force base. the base brought in a special truck to battle the fire. firefighters say their biggest challenge? >> the wind, fast moving fire through the grass. >> reporter: chopper 5 captured of a herd of grazing cattle near the fire, as firefighters tried to shoe them away. wanda says it could have been much worse. >> if they hadn't been at the neighbors, this house wouldn't be standing here. >> we did what we had to do. >> reporter: the flames were contained to the field and didn't affect operations at the base. >>> less than 30 miles away from suisun city, more than 500 firefighters are battling a grass fire

wanda giving this piece up?rents as opposed to development, and hollywood is a big attraction, right? the entertainment business is more exciting. angie: the regulatory bodies in looked withind of hesitation at wanda's acquisition when it comes to hollywood. it seems they are looking at these type of deals a little more closely, so in light of that, is it a smart thing for them to move away? >> that is hard to tell, but it seems like a well-established strategy. angie: all right, thank you so much for that. staying on deals, one stock we are following closely, orient overseas. after a buyout offer of osco.billion from c angie: this is a big family deal in more ways than one. our asian industrials reporter has more from singapore. what prompted this bid? >> you have to see that in the last two years or so we have seen so many consolidations in the industry because it has been in bad shape for so many years since the global financial crisis. , this can't be sustained comes of the obvious answer was for a lot of th

he sold off most of his theme park business in a $9 billion deal it is a privately held company, wanda. it's debt levels are unknown regulatory filings suggest that the parent company's debts could top $100 million moody's is down grading the commercial property unit to junk status they had hoped to relist that which they had taken private now that they have paid down debt. it is unclear how much debt that entity, how much it has to the parent company >> it's a mess >> it's a big mess again, one of these big sort of classic expansions, trophy building, hollywood. >> all the signs. >> a hedge fund manager a couple of weeks ago once told me, i will short any company where the ceo buys a big yacht >> this guy bought the whole company. now, he is buying a yacht company. >> hoiswho is the buyer >> another chinese company there is some de the that wanda will continue to hold but then some revenues that may flow back it is two chinese entities that the government is bound to be involved >> the journal is according that dalian wanda is going to loan the money to the company to buy the company.

. >> reporter: wanda watched as flames hit the trees near her house. she says she had one fear. >> that it was gonna blow up. >> reporter: before that could happen, neighbors put out the flames with garden hoses. >> i was surprised i still had eyebrows when i was done. >> reporter: the fire changed course, ripping past the homes through the backyard and into open space before burning onto a grassy field on nearby travis air force base. the base brought in a special truck to battle the fire. firefighters say their biggest challenge? >> the wind, fast-moving fire through the grass. >> reporter: chopper 5 captured a herd of grazing cattle ambling close to the fireline at the base as firefighters tried to shoo them away. the fire hit 40 acres and burned down a trailer and shed. wanda says it could have been worse. >> if it hadn't been for the neighbors, this house wouldn't be standing. >> reporter: the flames were contained to the field and didn't impact operations at the air force base. in suisun city, christin ayers, kpix 5. >>> less than 30 miles away i

and she said that john got hurt and he was hurt really bad. >> reporter: wanda's husband john nearlyn an accident at the shipyard where he worked. >> we would have never thought that this would have happened to him, because this is things that he did every single day. he went to work as my husband and he came home as a child. >> reporter: wanda now takes care of her husband 24 hours a day. the accident happened three years ago at a v.t. halter mississippi shipyard. a surveillance camera recorded as williams' crane lost balance and suddenly tipped over. his co-worker, willie horne saw it happen. >> the boom pulled back and it just bounced back all kinda ways and he was just messed up. his head was crushed. that stuff like that, it's just something you just can't forget like that. >> reporter: the accident crushed williams' skull and left him blind. for months before the accident, he had complained about the crane's broken load sensor. v.t. halter re-installed the sensor two days earlier, but the occupational safety and health administration, or osha, later determined it wasn't fully o

that deal would make them the third largest shipping liner wanda selling theme parks and tourism productso sunac for 9.3 billion. that's expected to strengthen the case for listing on the main land after it was de-listed last year apollo global management got club corp, comes after the golf course operator announced retirement of its ceo. club corp previously decided not to pursue strategic transaction after it didn't result in offers. >>> volkswagon executives were told the cost of emissions scandal a month before informing investors. oliver schmidt, company executive arrested earlier this year told volkswagon former ceo about possible financial implications at an august presentation investors were not informed until mid september. >>> shire, alleging incomplete misleading statements. barrens says apache could be worth double they're upping stakes in the company. strong management, sizable assets have fund managers to place big bets on oil and gas producer >>> now to this week's agenda on wall street. start with the economic docket today, may consumer credit out, tomorrow wholesale trade

wanda in michigan, line for democrats, go ahead. caller: yes, you know, when they sent that kid back from north korea, almost dead and he did korea flexing their muscles and this eagle like to raise its head they did with osama bin laden, seals to take care of the guy and get rid of north all together and let god sort it out. something has to be done, it is enslavement camp for everyone living there. the only one living good is the needs to be gone, we know we can take care of it. when are we going to act? have to say. guest: thank you. first of all, human rights now still right three other americans being detained on ridiculously trumped charges, periodically, north korean services arrest them and we saw with this case treated horrendously. americans are returned, obviously not in that condition, regime north korea mistreats its citizens, the un ecurity council, commission of inquiry concluded human rights violations are so widespread constitute crimes against humanity. as far as taking out kim in -un, you know, assassination attem

china planning to punish wanda nation's breaching the restrictions on overseas investments in six ofary regulatory approval. this is according to people familiar with the matter talking to bloomberg. it is 7:08 in london. let us talk about easyjet. the ceo of beef airline -- of the airline said she will step up for leadership at the itv from the eighth of january next year. this as easyjet struggles with the impact of the brexit vote. joining us now from berlin, managing editor for global business, benedikt kammel. what sort of company is carolyn mccall leaving behind that easyjet? announcement on friday around their operations highlighting the structural challenges ahead. benedikt: that is right. she is leading a company with a lot of challenges. brexit is the principal one. the ability to move freely, to be able to operate, particularly within continental europe, as one number to highlight backthat, planes -- highlight that. for the company to keep operating as they do now. they took one step last week with the operating certificate of austria. that gives them some breathing space.

pending an unprecedented $14 billion on such deals, some c gobblingr with suna up wanda's assets for china's largest real estate transaction today. it is maker consolidation under the government's deleveraging campaign. medium size developers have trouble getting finance. they want the targets for the bigger developers. you will see a lot of developers, small or large, they will change their strategy slightly to an asset-like strategy, some were sales of moving assets and capital into different areas that have high growth potential for paying down some debt. ac property developments are popping up all across china, and find the one that power lay, do we have a new debt keen in sunac?king in china with soared, and s&p puts sunac pundits and negative watchlist. they have raised their foot rent from four chinese cities to 44. the chairman has complaint options as being at absurd levels. wouldis a reason why they like to fork out for existing or older lower yielding properties, perhaps for redevelopment when the land underneath is more viable than what is sitting on top. shanghai, we hav

looking at stocks in detail, a lot of focus on these wonder -- wanda deals.ay, plunging on these fears, banks are worried about the risk. to fall.tinues toshiba is having an ordinary day, its biggest jump since february. this after we heard the u.s. hedge fund greenlight has picked up a stake in the company and also western digital to not gain an injunction to block the $18 billion sale of the chip unit. we were talking about china prices. this actually shows that even though the property curbs is not having -- property curbs is not having an effect in smaller cities, but it is in larger cities, they are all represented by different colors. .41%ll home prices fall by in beijing in june, the biggest decline in some time. 60 out of 70 cities reporting price growth. >> thank you. back to the top story, the u.s. mitch mcconnell has abandoned efforts to pass his health care bill. he will inevitably try to repeal obamacare, but without a replacement, it is almost certain to fail. >> if the gop is unable to deliver on its promise over the affordable care act, it wou

wanda roberts, a paige worker -- a minimum wage worker in st. louis, said the new $10 wage brought in an extra $400 a month and helped the local economy. >> if we're we'll spend that money. >> reporter: now that it's being reversed, what will that do to you? >> i will go back to struggling, worrying about how i'm going to pay my rent, how i'm going to pay my bills, and how i have money left over to buy household supplies and food. >> reporter: here in st. louis, the paige was supposed to go up to $11 an hour in january, but now that's not going to happen. and by one estimate, james, 38,000 workers could miss out on a raise. >> anchor: dean reynolds in st. louis. thank you, dean. coming up next on the "cbs evening news," skiers enjoy an endless winter in the west. and later, new evidence amelia earhart may have survived a crash landing on her final flight. so we know how to cover almost almoanything.hing even a swing set standoff. and we covered it, july first, twenty-fifteen. talk to farmers. we know a thing or two because we've seen a thing or

wanda roberts. minimum wage worker in st. louis said the $10 wage brought in extra $400 a month and helped the local economy. >> if we make it $10. we will go back out and spend money. >> now it is being reversed. whatl >> i will go back to struggling. trying to worry how i will pay my rent. how i will pay my bills. and how have money left over to buy household supplies and food. >> here in st. louis, the minimum wage was supposed to go up to $11 an hour in january. but now that's'going to happen. and by one estimate, james, 38,000 workers could miss out on a raise. >> dean reynolds in st. louis. thank you, dean. >> coming up next, skiers enjoy an endless winter in the west. and later, new evidence amelia erhardt may have survived a crash landing on her final flight. ♪ bite into magnum double caramel... ♪ and unleash your wild side. ♪ made with silky vanilla bean ice cream and rich belgian chocolate. ♪ discover magnum. best friends share everythin