joining us is lucy macdonald, chief investment officer, global equities at allianz global investors.restingly from the imf about china's being filled much by debt. that is exactly the case was that we are seeing debt everywhere in the world as being the major determinant of growth. that has been the case since the financial crisis, but particularly so in china, which has really driven excess growth, over 6%. that has helped the rest of the world, for sure. pointing out this debt is there and will need to be financed over time is a good caution, i think. it is a common picture around the world, the growth is fuelled by debt. where is the dividing line? read as a become manageable and healthy to keep the economy growing, and being into dangerous territory? we had a very clear number at 90% of gdp. that proved to be not entirely clear that it was an exact number. we are now in the hundreds of percent. 250% we are talking in china and similar levels house where in the world. it comes down to the ability to finance that debt. that is affected by how close the economy is affected by how cl

that is neil dwane, global strategist at allianz global investors.digital radio in a little bit. tv , if you haven't had enough of matt miller and anna edwards, you can always go back and look at it again. tv, you geton your the charts, you get to joining if you are feeling frisky, pompous a question. you have the ib at the bottom of your screen. you know you want to, you just have to be brave. becomeext, could be ftp coalition partners for the second time in pucci chancellor ships. he talked with senior member of that party. this is bloomberg. ♪ ♪ this is the european market open. let's get into some of our top stock stories. nejra cehic is standing by. with thearting gainers, the global building materials company crh based in dublin, selling its america about $2.6n unit for billion. crh said it is a chance to catching on a business it spent more than 20 years building by acquisitions, providing funds to enter fastest-growing set -- segments. america distribution has been a part of crh for years. crh announcing the acquisition of a german suppli

allianz global investments. we are looking for friending teams in expanding our product offering on the pimco side as well as the allianz global investors think we are going for the big deal because we have scale enough and we have a lot of knowledge in the industry and we are leveraging our existing skill and knowledge. on the insurance side, it's very different. there we have markets where the scale is not enough like the u.k. pnc retail business. announced transaction today is really closing a gap on the space. that was the alianza ceo. vonnie: we will hear from attorney general jeff sessions shortly. it's all about leaks of classified material. this is bloomberg. ♪ mark: from london, i am mark barton. in new york, i am vonnie quinn and this is the european close. we start this hour with breaking news -- we are awaiting a news conference from u.s. attorney general jeff sessions. he will speak about the investigation into the leaking of information from within the white house and other executive branch agencies. the director of national intelligence dan coats will also speak at this news conference. it's not clear what jeff sessions m

have also a second successful global investor, we are looking for finding teams and expanding our offering on the ensco side -- pimco site as well as the ions side. -- allianzve a lot of knowledge in the industry and we are leveraging our existing skill and knowledge. we have markets where the scale is not enough like the u.k. today's transaction is really closing on this space. london, thenson in u.k. is changing the discount rate. it is convoluted. it is going to reduce the fall -- profitability when it comes to the extreme end of the catch of the business. you -- worry you? >> i think the change of the rate was the beginning of the year. i think it is a great time to expand in the u.k. and line of business. back to pimco, is pimco this good because of ben iversen? >> you should ask be -- ben this question. he is a leader of a great team .nd the collaboration effort allianz is not a single person, it is always a team who makes the success and that is exactly our companies structure. matt: we don't hear as much performance- goes -- pimco's performance overshadowed that business unit. are they on the same kind of level as far as their performance? >> sure.