alexis tsipras has vowed to crack down on 80,000 rich greek taxpayers. be tsipras named an anticonstruction czar if you will. he hopes to collect 2 many 7 euros of uncollected debt. he was president of an independent organization formed to identify greeks who were money-laundering through swiss banks. >> translator: i want to state we already know how much money was picked 41 greece and transferred to switzerland and other places, from 2010 and after. we have all the dates, we have the information. we know how much money was pulled out of greece and went to switzerland. therefore we have no problem with taxing it. >> like elsewhere in the world wealthy creeks have greeks have the be wealth to pay their the taxes. line john gianis, blames the tax problem ton wealthy. his business has lost about $18,000 a year. >> they've -- the rich people can hide money. and avoiding paying taxes. i would say at that time middle class pays the fairest part of taxation in greece. >> this man is an associate at a law firm. he is unmarried, has no kids but does have a large

they are increasing pressure on prime minister alexis tsipras ♪.ing on greek prime minister alexis tsipras. speaking in athens, supra says his government has made -- offers tos made creditors and negotiations are in the final stages. our correspondent joins us from london. david, thank you veer time. how much money does greece have now? david: we do not know how much money they have, but the best guess is not too much area the last two payments they have had to make to the imf have been paid by tapping its own reserves at the imf and also calling in funds from other government departments in greece. how long can greece continue to negotiate with its creditors? david: the real crunch time is the middle of july. they have a huge of payment to the ecb on july 20, and they will be unlikely to make that payment without outside help. that's when time runs out for greece. mark: speaking more about timing, greece gets its share of tax receipts in july. will that be too little and too late to help? for sure,do not know but in all likelihood, that would be t

alexis tsipras is hoping that the german chancellor and french president will help in forming a deal. they already held talks over the weekend over the phone. merkel and hollande are set to meet later today. what about creditors uniting? shery: sources tell us that officials representing credit institutions have gathered to agree on terms of the bailout. buyoutition would be a by european leaders, but this would come from the imf, the european commission. and we know that creditors are seeking concrete action from grace on pension systems, labor markets. angie: with so many deadlines that have passed, so many still to come, what is really the first solid step? shery: finance ministers in europe are saying that they need to achieve a technical agreement by the beginning of this month. if they do not get that done, the disbursement would be really hard to come. the greek economy minister is saying, we are going to get a technical agreement soon. they are saying in a few days. this deal would be followed by a meeting of eurozone finance ministers to free up resources. angie: shery ahn, t

much is riding on negotiations between the anti-austerity syriza government of prime minister alexis tsipras, and the institutions that leant greece money, greece is scrambling to strike a deal before the european finance minister met in brussels, next tuesday, greece owes the i.m.f. about 850 million. that is nothing compared to the more than $9 billion in repayments that greece owes the i.m.f., european central bank in july and august. like i said, the clock is ticking. talk of bond payments and defaults can make it easy to forget the pain that the greek people suffered. years after the global financial crisis and greece's financial crisis in 2010, unemployment in greece is 25.7%, the highest in the eurozone. the greek economy shrunk by a quarter since the melt down. it's not hard to understand why many greeks resent that germany and others nist they make further -- insist they make further sacrifices to get the country in order. and greeks themselves played a major roll - i'm talking about tax evague, not paying the -- evasion, not paying the government money it needs to pave roads, pay p

already, prime minister singh burress has said greece -- prime minister alexis tsipras says greece cannote. prime minister and german chancellor made it clear that tsipras has until the end of this month to reach an agreement. back to you. rishaad: chairman of the chinese solar companyhanergy increased his that against the company. the stock price collapsed last week. falling before being suspended. reporter: very interesting. we see from filings to the hong kong stock exchanges that the chairman purchase 26.4 million shares on monday, one week ago. on the same day, he also increased short positions 7.71%, up from 5.18%. day, that was the day that many professionals were actually closing their holding on the company. the company itself, shares increased by 162 percent just this year which is part of the reason why some of these short sellers were sequencing holdings. that first day that's against the company fell to 3.1 percent of our learning chairs which is the lowest 2013. stockys later, hanergy price fell 47%. there have been mark -- no comment on hannity for the move and no explanati

as a final meeting between alexis tsipras and the president of the commission. molly: christoph reporting from riga, latvia. to the united states now. a grand jury has just -- has indicted the six police officers in the death of freddie gray. state prosecutor marilyn mosby announced the revised charges the most serious including second-degree murder, which remained. >> as i previously indicated, my office conducted an independent investigation into the circumstances surrounding the tragic incident with the death of freddie gray paris on may 1, our investigation revealed we had sufficient probable cause to bring charges against six police officers. at our investigation has continued, additional information has been discovered and as is often the case, during an ongoing investigation charges can and should be revised based on the evidence. these officers, who are presumed innocent until proven guilty are now scheduled to be arraigned on july second. molly: freddie gray's neck was broken while he was placed into a police van. it is said -- the officers' lawyers say

prime minister alexis tsipras promised to end the tax evasion problem. greeks owe their country $82 billion in back taxes. but according to the former head of greece's tax authority, evasion won't end until greeks see their tax payments put to work for the public good. >> we also have chronic underperformance of the public sector, agents of the public do not work and they do not provide the service level that people in a modern western country expect. that everyone, everyone rationalizes not paying taxes. >> a technocrat, greeks had high hopes for what he set out to do. he quit his post a year and a half into his five year term. >> the government really didn't want to let go of the independent tax administration. >> theo harris is part of a new party called topotami that wants greece to remain a part of the euro zone. as greece makes its largest payment to date to the international monetary fund on tuesday, economists worry that greece's already unsustainable unemployment level, 26% the highs in the euro zone will continue to rise. greece has a populatio

the government of prime minister -- the government prime minister alexis tsipras alexis tsipras alexissipras holding discussions at the european summit. two takeovers to tell you about this morning. parrinternational buying pharmaceutical. women's apparel and other deal, buying the parent of ann taylor, and incorporated. buying the company. fed president charles evans is in no rush to raise interest rates. speaking in stockholm, he said inflation is way below the fed target, so great that statement rates should stay near zero for the time being. >> i think the federal market committee should refrain from raising the federal funds rate until there is much greater confidence that inflation one or two years ahead will be at our inflation target. i see no compelling reason for us to be in a hurry to tighten financial conditions until then. olivia: the fed has said it will raise the interest rate when it sees improvement in the labor market, and when it is confident inflation will actually rise to the 2% level. pimm: it is a major setback for the iraqi military. islamic eight forces have ta

prime minister alexis tsipras says greece cannot absorb austerity measures.- says company will fall by going on the stock. hanergy increased. they plunged two days later and the stock was suspended. markets in the asia-pacific, it is buddha's birthday holiday in hong kong, but in japan, faye are in the thick of the action. first day of the trading week here 1% higher. australian equities, something very interesting, independence us in a $1.44 billion deal. australian equities climbing. something interesting in the corporate face as well. the proposed restructuring of an indonesian coal miner has taken another twist. leavermer ceo refuses to his position, also his office. the development prompted its parent company asia resource minerals to suspend shares in london. let's go live to has haslinda amin. the berau chairman is not leaving, what is this about? the where the anchor of a man willing to lock himself . berau on theo of verge of a default. he resigned in march but he is refusing to leave his position. like he said, it looks has chosen to lock himself in

we understand that alexis tsipras will be next to angela merkel at dinner. maybe we will get that shoe dropping later. it is a little bit quiet. you've got to reflect over the last few days, look at the equity markets and what they have done. decent rallies being generated, especially in europe. a day of quiet, we wait for the next impetus. maybe it is the day that you are going to be delivering later. we have had some mixed data in europe in the form of the pmi's. nothing, as you say, to move the dial on equities. bonds might be moving a little in europe. tom: what a jumble. brendan: amazing to hear you casually say nothing is going on. with greece so much has been happening and to say it is down to body language because of a sitting placement between angela merkel and alexis tsipras is extraordinary. we have been reading that it was may when this was supposed to come to a head. there is no date after the riga meeting? guy: has always been th the net meeting that is going to take place. we are going to get closer to finding out where we are going to stand o

alexis tsipras, angela merkel, and hollande up past their bedtime.hen crude headed for its longest win streak ever. all of those stories and more coming up on this show. ♪ jonathan: good morning and welcome back. i'm jonathan ferro. this is "on the move "on the move." let's get you up to speed on where not to trade this friday morning. the ftse 100 pushing higher. the cac 40 pretty much unchanged. in frankfurt, the dax, quite a trip this week. the last couple of days have been dead flat. dead flat again today, down by just a couple of points. the ftse mib in italy, unchanged. have a look at the fx market. euro-sterling has been the big want to talk about. four days of losses, coming back with a day of gains. yesterday in the fx markets, all about pound power after those stunning u.k. retail sales. in the, that he markets, wti pulling back by 0.1%. almost dead flat at $60 a barrel, but still heading for a record 10th straight week of gains. we will talk about the oil market in a little bit. for now, bloomberg's top stories. mario draghi and other poli

. >> prime minister alexis tsipras has warned that they are in a state of financial strangulation. since taking office at the beginning of the year, his government has been deadlocked in talks with international creditors to release 7.2 billion euros in additional loans becoming increasingly urgent because they are all the imf 1.5 billion euros next month and will likely default if they do not reach a deal. a greek government spokesman said they are optimistic a breakthrough may be reached by the end of the month. a you officials described the latest meetings as "constructive." -- eu officials said it was constructive. >> reforms will be taken in a number of areas. the creation of fully independent administration and the government has also been engaging more conservatively on the issue of privatizations which are necessary for a competitive economy. >> let's check in on the markets now. concerns about the talks in greece weighing in on the european markets but this optimistic comments giving a boost as the markets closed. the athens stock exchange up over 1.5% and the dax closing

that is why so much is riding on negotiations of the syriza government alexis tsipras. finance ministers meet one week from today. million. that is nothing compared to the more than $9 billion in repayments that greece owes the imf, the central bank and others, and the clock is ticking. talk of bond payments and defaults can make it easy to forget the real pain greece people have suffered. years after the global financial crisis and greece's own crisis in 2010, the greek economy has shrunk more than a quarter since the melt down. it's not hard to see why many greeks are resentful of making more sacrifices to get their financial house in order. but greeks themselves played a major role in their plight, tax evasion, not paying the money it needs to pave the roads, pay police, and and not paying taxes is rooted and running deep. always a magnet for tourists but today, also a bargain. because after decades of terribly mismanaged funds corruption scandals and rampant bribery, the greek economy itself is a catastrophic ruin. much of the catastrophe comes from a tax evasion ru

he offered join the ultra left prime minister alexis tsipras in a unity government. i sat with george papandreou and understands the difficult decisions that the counter greek government faces, but says he ha little choice but to cooperate. a reminded george papandreou that a lot of panic started with the deficit his government uncovered in 2009. here is what he told me. >> what happened with greece - order. because we are linked with the euro, it became a question of whether we have the confident of partners in the european union. >> without getting too technical, you asked to trigger a support mechanism that was never triggered before. the euro countries said if one of us is in trouble you help out, and you called on the eurozone to trigger that mekan. >> what did you learn? >> the support mechanism didn't exist initially. we faced the fact we couldn't get on to the market and borrow at viable rates. where do you go to borrow. you end up facing bankruptcy. we needed to find confidence in the market. one thing we had to do was have the changes inside greece, and say

william: since alexis tsipras' comments, markets are lower as hopes are fading of the greek bailout. only the london ftse is in the green. from cash-strapped greece to cash-free denmark, the government wants to change the way people pay, preferring people use cards or smart cones giving up on bills and coins. some danes are not keen. nicholas has more. nicholas: pain with your smart phone or a card is the future, certainly -- paying with your smart phone or a card is the future, certainly in denmark. if the danish parliament gives the ok, the measure will come next year, and the goal is to help his this is but what makes plenty of sense to the younger generation is just another headache for the elderly that are not up to speed in parts of copenhagen. >> that cannot be possible. there is an older population and they are not used to cards yet. nicholas: one out of three games use a mobile app. adding to the generation gap is the mood that going entirely cash free is not feasible. some of our staff face losing tips and have mixed feelings about the prospects of the cashless customer. cr

a financial squeeze creating a huge conflict for the left wing government led by alexis tsipras. he won after railing against austerity, but the greek creditors, i.m.f. and the bank demonstrated greece cut debt and pensions and raise taxes to boost revenues. the need to raise money forced the cyprus government to back away from earlier promises to get rid of a controversial real estate tax, a tax many citizens came to hate. four years ago after the major bailout the government imposed a broad property tax. it has become permanent and led property tax revenue to sky rocket. last year, for example, the tax raised $4 billion for the greek government. but created a burden for creek home owners. many of them kont afford to -- cannot afford to pay and lost their houses to foreclosures it's a reason a real estate market is in trouble. >> home prices plunged by 13%. last year they fell about 6.5%. many greek citizens are short of money, following recession, are desperate to sell their homes. they are not finding many buyers. some abandoned their home. ali velshi saw a troubled state of g

alexis tsipras is trying to secure more aid, one of those stops was in russia. one of the fears was that greece was negotiatesing on sanctions against russia. greece left russia empty hand he but as john siropolous reports greece and russia share a strange situation. >> it was the greeks who created the slavs to you christianity. greece needs friends. russia wants to prevent eu sanction he from being renewed in june. sanctions which prompted it to ban european agricultural products. >> offering various deals in the energy sector and perhaps a unilateral suspension of the counter-embargo or counter-sanctions on greek agricultural products. but whether they can make a very tempting offer, offer in 30, 40 billion euros in the least which is the amount greece is going to need in the immediate future. >> a direct loan to greece isn't its only option, because greece spends ten times that amount buying russian gas, russia could lower the price. it could also bid for infrastructure greece is privatizing such as port authorities and hellenic rail. there is an overarching

reporter: the left-wing government under prime minister alexis tsipras had promised to curb the privilegesf the shipping magnates. now they're sounding more halfhearted. the tax collectors' union has been advising the government on how to tap more tax revenue. but the officials also seem reluctant to upset the shipping tycoons. >> we expect the government to implement their tax plans. but perhaps they should enter into a dialogue with the shipping owners to get them to pay more tax. they are important for the economy -- but they could pay more taxes nonetheless. reporter: nicolas vernicos can't imagine entering into negotiations with the state over higher tax rates. the privileges of the shipowners are anchored in the constitution. nowhere else in the world is this sector so powerful. for decades, they have been living the life of kings surrounded by beautiful women. aristotle onassis best embodied the stereotype of the flamboyant greek shipping magnate dripping with wealth. but shipowners like vernicos keep a lower profile. he says he can't imagine continuing to sail under the greek flag

we have this tweet from alexis tsipras. manus: he looks very happy.now if that tells us anything about where the negotiations are going. that does it for "countdown." "on the move" is next. ♪ jonathan: good morning. welcome to "on the move." another record high on wall street. heading for the best week of gains on germany's dax since the start of the year. let's get straight to your morning brief. talks in riga go nowhere. late-night negotiations ended without a breakthrough to unlock bailout funds. optimism evaporates. boj optimism meets draghi's reality check. the bank of japan leaves stimulus unchanged and signals a more optimistic view. draghi says growth is too low across europe. the last chance, that is the message from investors to the co-ceos of deutsche bank after they emerged with just over 60% of investors voting in their favor. we will talk about banks later. i'm looking at futures in london pretty much dead flat. dax futures dead flat. euro stoxx futures dead flat. i'm relying on manus cranny to make this more exciting. manus: it might be

angela merkel and alexis tsipras. stay with us for analysis on the prospect of a deal. european leaders gather in riga today for the eastern on a ship summit. the government in germany telling bloomberg that chancellor merkel may week with tsipras at the summit but it is unlikely to be the setting for a deal. good morning and thank you for joining us today. >> pleasure. mark: are we likely to get any semblance of a deal or not? guest: not at all i think. in the best case scenario tsipras movie tells merkel can help if he does his own work. in the worst-case scenario he will be told by merkel and the other leaders that unless they start moving quickly greece will be given a take or leave deal. certainly not a normal deal coming out today. mark: what would it take or leave deal look like? merkel has essentially said you have until the end of the month so explain what that deal might look like? guest: i think i take or leave deal would look like the conditionality's they need to meet to conclude the review. there would be a fiscal component it would be about labor. that is

great prime minister alexis tsipras saying he is going to take a tough line on negotiations and also saying he wants to see some kind of agreement that supports what greece has already done. they need some kind of positivity from this. the ecb's role is crucial. if the ecb doesn't see some kind of progress on these reforms they have been battling over, then the ecb could further restrict access to financing for greek banks. francine: market is, what does greece hope to get from the eurogroup meeting? do we know anything about tactics? are they going to be more friendly than they were last time? marcus: well greece is looking for a positive statement. it is worth noting that this is going back compared with previous meetings, including that acrimonious last one in riga. so often, the meetings have been talked about as self-imposed deadlines to be reached. the greeks have been looking for more funding. this time, they are just holding out for recognition of the progress that has been made so far. they are saying an appeal will be closed in may, but we need something from the other side

at the end of the day, is this something that alexis tsipras is going to handle?o you believe him when he says he wants a compromise? ricardo: of course. i think he does want a compromise. i don't think there is a plan b, neither in the issuance of i-o- u's, nor in terms of leaving the euro. mark: how do they deal with the red lines issue? the creditors are very clear. they don't see the same red lines. tsipras and varoufakis keep repeating that there are red lines. ricardo: in politics, the solution is always a bit in shades of color, not black or white. mark: think lines. ricardo: i think they will become pink. in some cases, maybe they will hold. francine: at this point, we haven't had any closure at all. someone is going to have to give in. it is greece, you think? ricardo: i think both sides will make compromises. for example, there was a certain target for the primary surplus. it had to be at least 3% of gdp. the troika was expecting a number of reforms. the program was very granular. my guess is that it would become less detailed. we leave moscow to the sid

alexis tsipras is still holding a meeting over the weekend.an eight hour talk session saying they are going to take a harder line with their creditors. on the flipside, you have the head of the eurogroup saying that greece needs to do more and it is unlikely that there will be a solution or a positive outcome. the italian finance minister said that time is running out for greece. it is. greece is running on empty. they have this 750 million euro payment to the imf tomorrow. most people say they will make that payment and then, what then? key sticking points are labor reforms pensions -- those issues including private's asian has held up these discussions for four months. they are trying to unlock the 7.2 billion euro portion of eight. what the creditors are agreeing to is that they need more detail on the policy. greece says it needs acknowledgment that it has made some achievements. they are taking a tougher line. it does not bode well. behind all of this is the ecb's role. it is propping up the greek banks almost single-handedly. if there is

the government of greek prime minister alexis tsipras is under the gun to come up with a list of economic reforms. its next hurdle comes tomorrow in greece has to pay $840 million to the imf. china pot's central bank is trying to jumpstart the economy. the people's bank of china is cutting interest rates for the third time in six months. it is raising limits of what thanks can pay savers. both imports and exports fell last month. investors appeared to like the move. chinese stocks rose by the most in two weeks. air forces across europe are grounding all airbus military transports after a crash. the airbus a-400m crashed saturday minutes after a test flight. four people were killed, those two others injured. a german magazine says one of the survivors told investigators the plane has multiple -- had multiple engine failures after takeoff. shares are down almost 3% this morning. it may be a sign of saudi arabia's frustration with u.s. policy over iran. the new saudi king is skipping this week's summit for persian gulf countries. a number of issues will prevent the king from attending. the s

olivia: the government alexis tsipras expects the eurogroup to a knowledge that greece is moving in the direction. greece is quickly running out of money. tomorrow it has to pay $840 million to the imf. china's central bank is trying to jumpstart the economy. the people's bank of china cut interest rates for the third time in six months overnight. the chinese economy is struggling to meet this year's growth target of 7%. imports and exports fell last month. investors appear to like the move. equities rose by the most in two weeks. ofger talk is pushing shares grocers in europe. in discussions with the dell hazy group of belgium. -- if you would like to see the fender bender's of the future, head to california. an investigation by the associated press says 10% of driverless cars in the golden state have had accidents in the past year. two accidents happened while the computers were driving and two while human drivers were in control. the computer controlled accidents were both at speeds less than 10 miles per hour. those are your top stories. let's take a quick look at where u.s. markets

pimm: greek prime minister alexis tsipras said his country is close to an agreement with creditors., former aig chief executive hank greenberg is waging one of wall street costs longest and most expensive wars for redemption -- wall street's longest and most expensive wars for redemption. we will look at his legacy. pimm: good afternoon. i'm pimm fox. betty:

how this could force prime minister alexis tsipras to reach a deal with creditors.sode of classic" features a coke ad. we talk about whether that coke ad would still work right now. good afternoon. i'm betty liu, here with mark crumpton. let's talk about what is moving the markets, starting with u.s. equities. yes, another record for the dow and the s&p. the s&p higher by point 2%. commodities --

alexis tsipras holding talks with his cabinet members.fficials calling doubt they will take a tougher line. you have the creditors and the eurogroup led up by mr. bluefly bloom and said they need to get a deal. you have shui blinn saying the greece is running out and warning both of a possible accidental default. this send a precarious stage. -- it is setting an precarious stage. they wrapped up early. they soweto do what we wanted. the sticking are pension and all of the things that have moved forward. the eurogroup saying we need more details. greece saying we need agreement we have made some progress and we wanted that and the statement tonight. that's what the greeks are saying. that is key. the ecb's role is central. if there is a positive statement, the ecb gives a bit more in a bit more ease and liquidity to those great banks that are propping up for the past few months. if the tone doesn't change, the ecb may likely restrict further access to the liquidity. they may also increase the discounts on greek collateral increasing pressu

pimm: greek prime minister alexis tsipras said his country is close to an agreement with creditors. the age of 90, former aig chief executive hank greenberg is waging one of wall street costs longest and most expensive wars for redemption -- wall street's longest and most expensive wars for redemption. we will look at his legacy. pimm: good afternoon. i'm pimm fox. betty: i'm betty liu. the u.s. charging international marketingicials and of rampant corruption. media and marketing rights to games. about this case with a former federal prosecutor, now a partner with a law firm. guest: this case was built, importantly, critically, built on cooperating witnesses. in addition to unsealing the indictment, the criminal pleas of four individuals were released. at least one of them was cooperating with the government in building this case over the last several years. this is a big deal for fifa and for soccer. pimm: what would you liking it to? if you think back to a fraud/corruption case you have seen or were involved with the doj that there's any resemblance -- that bears any resemblance t

alexis tsipras who leads the party reportedly spoke with angela merkel.e know what progress might have resulted? hans: no. we tried. on the phone call, francois merkel, wengela asked the finance minister of france. he did not give us a readout. it is difficult to get a readout when three has of state have a conversation. if there will be recriminations, we may get some line coming out of that meeting. right now, everyone is in the same spot. that is that greece needs to make a decision on what direction they want to go. will they reform pensions? will they do something on labor laws? will they meet the targets? this morning, we heard from varoufakis again. he keeps saying they are close to a deal. byt is rejected at least others. no one in dresden thinks greece is close to a deal. pimm: when is the next meeting? when do they get together again? hans: that is a great question. if there is some sort of agreement on a technical level -- just to give you a sense of how difficult technical talks can be, they were supposed to start wednesday in brussels. for th

alexis tsipras told reporters the deal is close, but the eu says a lot remains to be done. officials will continue meeting in brussels later today. since has to make another imf payment at the end of next week. -- offense has to make another payment at the end of next week. to vote outclients senior executives who don't make new profitability standards -- one third of the company has missed the mark on their five-year average return on equity. sony and sharp among them. gucci is looking to clear the -- shells ina china before releasing the latest collection. as much as 50% of merchandise designed by the former creative director, prompting long lines of shoppers. this comes as china cuts import tariffs. plunge in stock and a $19 billion reduction in market value, the chairman of energy is speaking out. hanergy is speaking out. he calls it pure rumor. what else did the chairman have to say? reporter: impossible is what he said when he came to the probe hong kong regulators here it this is an interview he did with --n one news in her agency like the youtube of china. this is a

alexis tsipras says the deal can be reached by the end of the month.s they want and at any measures that will deepen the recession. another takeover offer on the table for time warner cable. smaller rival charter communications made by the company for just over $55 billion. that is a 14% premium on time warner's friday closing price. the deal could be announced at the end of the day. waster bid in 2014 but given up one the other bid collapsed. japan slipping into the red. it is slinking into the negative territory. kospi is also lower right now. australian equities are getting a lift from fortescue, jumping the most in one month. that is from reports companies linked to the -- to china may be interested in buying it or raising their stakes. china is still the biggest worlds biggest iron ore buyer and its appetite is a key driver prices. let's bring in david stringer. is reallyike china heating up its interest in australia. that's true. the evidence points to that. if we look at the first quarter of this year, the value of deals by chinese in the austra

european creditors threaten to restrict athens access to funding unless alexis tsipras present a credibleeform package. they are in such dire straits that some members of angela merkel's political parties a greased should default. they believe that will benefit -- euro and all-out greece allow greece to handle its own reforms. in a small sign of august, as spoke bytsipr phone twice last week. goldman is bullish on the economy. despite a string of economic -- bad economic data. current conditions in china parallel last year, i find that government will step in to boost short-term growth. she cites a combo of monetary and fiscal listening. the bank of china announced its third interest rate cut in the past six months. this goes with two reductions to bank ratios and target injections of liquidity. this is bysts say the disappointing april trade acres. they say external demand will give help -- china healthy jump in. i don't giant toyota has big plans after a record year. hasutomobile giant toyota big plans after record here. it plans to buy back shares. toyota sees profit rising to $18.8 bi

alexis tsipras is sticking to the pledge to stick to austerity.e set to meet and l -- in latvia. greece will push for more aid. they are due to make a payment to the imf on june 5. alibaba for --rt a company is suing alibaba for allowing products that in a french on pa -- infringe on patents. kering said in the alibaba has profited for fake goods. alibaba is saying that suit has no merit and they will fight vigorously. last year month before alibaba listed in the u.s., kering withdrew a similar lawsuit after talks between the companies. rishaad: another story on bloomberg is a bill gates and why he believes it is wrote is wrong to just taxes are hurting the u.s. growth -- and why he believes it is wrong to say taxes are hurting u.s. growth. that is on bloomberg.com. we will look at what prime minister modi has accomplished. our next guest is bearish on the euro to the dollar. find out why when i am rishaad salamat. -- find out why when "trending business" continues. ♪ rishaad: checking on the currency markets. range for ais while. trading on 119 y

economists say the collateral problem could force alexis tsipras' hand. within three weeks. is expected to bring up the crisis at a meeting of european leaders in latvia. a major setback for iraqi forces. the islamic state now controls the capital of the largest province ramadi. they overran security forces and raise the black flag in triumph. this is the third or fourth civilian massacre ensued. secretary of state john kerry was asked about it while traveling in south korea. >> there are targets of opportunity like ramadi or anywhere else where they have the ability to inflict great damage. notice what they've done. they have destroyed. they have sent in huge numbers of vehicle-borne ied's, big trucks, massive amount of destruction, and they've destroyed the place. >> it is just 68 miles from baghdad. in waco, texas, rival motorcycle gangs opened fire at a restaurant. nine people killed, 18 wounded, all gang members. police were there and said they shot several bikers. alibaba rejecting claims that they make it easy to sell counterfeit luxury goods. the