thank you stephen take care stay healthy all right let's go over to china now we're tech giant baidu has stepped up the competition to be the 1st commercially viable pe driverless taxi service with the launch of such a robo taxi in beijing here's a look. beijing taxi drivers are famous for their banter how would a robot compete. here in beijing show got to find out a fleet of 10 driverless apollo robo taxis pick up and drop off passengers at 8 stops. tech firm baidu better known as the search engine on a robot car operator has staged autonomous driving demonstrations before but this is the 1st time that no one is behind the wheel although a safety monitor is sitting in the front passenger seat in case of emergency the driverless taxi operations are in a park on the side of a former steel plant to avoid beijing traffic hailing a robot taxi straightforward passengers call a cab and the apollo go up then scan the health code the taxi only moves after detecting passengers and fasten their seatbelts. when driving we've all had experiences like other cars jumping ahead in the queue or chan

baidu plans to expand the apollo go robot taxi service to 30 cities in the next 3 years. tesla's new factory near berlin is key to its european expansion but work has slowed there lately with a planned july opening bell push to the fault in the fast moving electric car market where big brands are gearing up to challenge has every delay is cause for concern. authorized personnel only here at the site of tesla's new plant under construction just outside berlin this fire safety contractor is excited to be allowed in because as a mosque is my 1st time here we got a call because they're having some difficulties they want us to take a look at argo which is what was once the plant is almost finished but it still lacks final approval by the regional environmental authorities a sign of the snail's pace of german bureaucracy if it was taught i think it's sad actually officials in germany need to be a bit quicker and in cases like this push things through if we're going to get something innovative like this we need to adapt a bit and move things along on possible gonski the addition

what do you make of baidu? >> baidu. it used to be our top pick.level, people should reconsider it, because the price is only the valuation for the advertising business, and i think it is priced near zero or a limited valuation for autonomous driving. baidu has benefited, because now, those companies who have heavily invested in autonomous driving should benefit. i think baidu, it also depends on market sentiment. autonomous driving is far away as a business. you probably have to wait three years to five years. when the markets are more tolerant, then they will give baidu a high valuation. at this stage, people are more conservative in terms of giving those long-term stories valuation. >> the crackdown we are seeing in china, what are some of the companies that could get hit by a crackdown? in the u.s., u.s. investment when it comes to this tech giants, perhaps with links to the military allegedly, we have seen other chinese companies impacted as well. >> i think within my coverage, i think that alibaba and another company will probably see some im

baidu was also caught up in the archegos unwinding. it was a shareholding that was unwound quickly.s been a negative effect as well. but competition certainly a focus for investors. shery: fell more than 40% since that debacle. tom mackenzie in beijing. you can also turn to our youtube channel for more context on beijing's crackdown. this is bloomberg. ♪ this is bloomberg. ♪ ♪ ♪ look, if your wireless carrier was a guy you'd leave him tomorrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. i'm deleting it. so, break free from the big three. xfinity internet customers, switch to xfinity mobile and get unlimited with 5g included for $30 on the nations fastest, most reliable network. vonnie: you're watching "daybreak australia." senate majority leader chuck schumer says the u.s. senate will include 52 billion dollars to bolster domestic semiconductor many festering. in a broader bill to enhance u.s. competitiveness with china. it

now staying with china it is of course a leader in a tunnel this driving technology that giant baidu has now launched a robo taxi in beijing a bid to become the 1st commercially viable driverless taxi service here's a look. beijing taxi drivers are famous for their banter how a robot compete here in beijing shogun park to find out a fleet of 10 driverless apollo robo taxis pick up and drop off passengers at 8 stops. tech firm by do better known as a search engine than a robot car operator has staged autonomous driving demonstrations before but this is the 1st time that no one is behind the wheel although a safety monitor is sitting in the front passenger seat in case of emergency driverless taxi operations are in a park on the side of a former steel plant to avoid beijing traffic hailing a robot taxi straightforward passengers call a cab in the apollo go up and scan the health code the taxi only moves after detecting passengers and fasten their seat belts. to anyone here when driving we've all had experiences like other cars jumping ahead in the queue or changing lanes suddenly peopl

also on the show who's in the driver's seat no one has tech giant baidu test its autonomous taxi service in beijing. and strong results for siemens energy in the 2nd quarter the new spin off from parent companies even doubling its profit from last word. flowed welcome to the show i'm seeing beauty and berlin the e.u. has shelved its efforts to what approval for a massive investment deal with china after tit for tat sanctions were imposed over beijing's treatment of its weaker population european commission vice president valdis dombrovskis said tuesday that future efforts to ratify the deal depended on how broader each china relations evolved investment pact was pushed through by german chancellor angela merkel in december but had been expected to face opposition in the european parliament. brussels and beijing signed the ca i and the simpler it's meant to establish a framework for trade and investment in each other's markets to enter into force the cme must be still must still be ratified by e.u. member states and the european parliament where it faces opposition the deals that offer eu

also on the show who's in the driver's seat no one has tech giant baidu test its autonomous taxi service in beijing. and strong results for siemens energy in the 2nd quarter the new spin off from parent companies events doubling its profit last work.

. >> it's only ten stocks in this nyse fank plus index you mentioned the three of them, throw up baidu and alibaba, netflix, there's your index on this stock on an equal weight basis. they all contribute more or less to the overall sentiment in this particular index but that fang plus index is up 4% it's still underperforming technology overall which is up about 7% on a year-to-date basis and the spider s&p 500 up about 12% on a year-to-date basis. again, fame plus underperforming those ten stocks that are more heavily traded technologyish type names if you look at the weak side of things, take a look at some of those moves we are seeing elsewhere in this echo system and market those particular stocks, tesla, twitter and nvidia, over the past week, it's been these stocks, tesla up 7%, twitterer up 6.5%, and nvidia up 4.5% that have been driving a lot of those gains so far this week so they're the ones responsible for it if you take a look at some of the stocks that have been doing so. >> a year and away basis, we're talking about google parent company alphabet up 36%. facebook up about

he went in and these stocks were cut in half due to forced liquidation and he bought baidu, he bought vip shops and tencent music along with discovery by the way which had the merger yesterday, and i think that's going to prove to be the trade of the year. you're seeing even today, in a weak take, the chinese stocks are up and i like that trade quite a bit, so i don't think the buffett 13-f tells us a lot about what wavelength en is thinking i think it tells us about todd and ted and as far as michael burry to scott's point the notional value is 500 million, but what he has at risk maybe a few million, maybe a few tens of millions but i wouldn't bet against elon musk long term, the thomas edison of our day. short-term the trade works, we'll find out if he took profits or not. liz: fascinating stuff and yes, it is a good point and i like the outlier with george sorros and that investment because he's now acting like buffett, who says you want to rush in when everybody is selling and panicked and you want to leave when everybody is excited, so scott, tom, good stuff, thank you very much

have this antimonopoly crackdown in china, the big tech companies like tencent, like alibaba, mike baidui just talked about, xiaomi, they are pledging to plow so much of their new areas, fundamental tech and infrastructure like ai and the like, these are areas that the chinese government, not coincidentally, while these companies -- once these companies to plow into. shery: let's turn to amazon. it agreed to buy mgm film studio. the deal sets up the e-commerce giant to become a more formidable force in the streaming industry and puts more pressure on its retail rivals by offering its customers more free tv and movies for the price of a prime subscription. emily chang delves into the details. >> the past is not dead. emily: the multibillion-dollar deal between amazon and mgm means you could see james bond or rocky in your shopping cart also included, the pink panther and robocop franchises as well as the oscar award-winning film, silence of the lambs. >> fava beans. emily: it is amazon's biggest acquisition since buying whole foods for $13.7 billion in 2017 and jeff bezos has not been shy