i mean, certainly the people's bank of china pretty much threw the kitchen sink at china's growth problemas lifted sentiment towards china's economy and the stock market, which is why you've seen this real surge in investor sentiment. a lot has gone down, so the people's bank of china has lowered key lending rates right across the board. they've lowered the amount of capital banks need to keep in reserve. they've lowered the ratio, the deposit ratio, for home buyers, as well. so they're really trying to stimulate lending and try and boost economic growth. whether that will work, it remains to be seen. i think this rally may be a little bit short—lived because ultimately consumers still feel very cautious. the property market has been in crisis for around three years. that's dramatically affected confidence, particularly with house prices still falling in many key cities right across china. it looks like targeted fiscal stimulus will also be needed to really help the economy turn a corner. how important is the ceo to the success of a company? in recent weeks, boeing, nike and starbucks hav

the people's bank of china has slashed interest rates for existing mortgages, and lowered minimum downes of homes. australia's consumer watchdog is suing the country's largest supermarket chains. the accc says coles and woolworths broke the law by temporarily raising prices of goods, before lowering them to either the same or higher than original prices. both firms have issued statements to the allegation. coles said it would defend itself and that it had "sought to strike an appropriate balance" between higher prices and offering value to customers. meanwhile, woolworths said it was important its customers "trust the value they see" when shopping in their stores. the chair of the accc took me through how the regulator discovered these false discount claims. we first discovered it from actual customers contacting us, and we then looked on social media and we found on reddit, x, tiktok, multiple examples of customers querying whether the price discount claims were genuine because they had seen a short period of price spike after a long—term regular price, and then the product was put on

that was the chair of the australian competition and consumer commission. china's central bankmulus measures to shore up its flagging economy on tuesday. the moves follow a series of disappointing data points, causing concern that the world's second largest economy might miss its 5% growth target this year. the people's bank of china has slashed interest rates for existing mortgages, and lowered minimum down payments on all types of homes. report called on businesses in india to increase their investments in the country. global ratings agency snp expects the indian economy to grow by 6.8% in the current fiscal year. the bbc�*s reporter looked into it. fiscal year. the bbc's reporter looked into it.— looked into it. india will continue _ looked into it. india will continue to _ looked into it. india will continue to go - looked into it. india will continue to go ahead i looked into it. india will continue to go ahead ofi looked into it. india will. continue to go ahead of its peers, that is a general consensus. the growth is being driven by one of the rats government spending. l

about the emergence of the global south on behalf of china and africa, which will affect the history of the world. the head of the industrial and commercial bank of china also says: a thousand workers and engineers went to africa in the past years. over the past 11 years, chinese companies have been involved in the reconstruction of more than 10,000 kilometers of railways. nearly 100,000 kilometers of highways, 100 bridges, 100 ports, 66,000 kilometers of electricity transmission and distribution lines, and 150,000 kilometers of basic communication networks were involved in various african countries. china is rising to lead. the world of these countries, which are now gathering in pekandar , will later be china's followers, according to the data prepared by boston university, china's investment in african countries this year has reached its highest level in the last 5 years. today, china is africa's leading trading partner with a trade of nearly 168 billion dollars. this continent in the heart of the road there is new silk. an initiative launched by beijing to guarantee access to africa's natural resources in exchange for huge investments , th

about the emergence of the global south on behalf of china and africa, which will affect the history of the world. the head of the industrial and commercial bankof china also says: china is looking for a win-win game in africa. we will allocate resources to support key sectors in africa. this will increase financial investments in the field. significant investments beijing to build countless infrastructures and send hundreds of thousands of workers and engineers to africa in the past years. over the past 11 years, chinese companies have built and rehabilitated more than 10,000 kilometers of railways close to the surface. they will follow china later, according to data prepared by boston university , china continues to invest in the countries between the united states and china for greater influence in the black continent. amina sadat zabihpour, radio and television news agency. our next contact will be with qabbah in south africa to further investigate this matter. mr. anagma emtinka, researcher at nelson university mandela of south africa will stay with us. hello, mr. emtinka. mr. emtinka , the china-africa cooperation meeting was held while

of china in the past years. africa has spoken that will affect the history of the world. the head of the industrial and commercial bank of china also says that china is looking for a board game in africa. we have resources to support the departments we will assign a key in africa. this causes an increase. one thousand kilometers of railways, nearly 100 thousand kilometers of highways, one thousand bridges, 100 ports, 66 thousand kilometers of electricity transmission and distribution lines and 150 thousand kilometers of communication networks. china's investment in african countries has reached its highest level in the last 5 years this year. china today with nearly 168 national trade. an initiative launched by beijing to guarantee access to africa's natural resources in exchange for huge investments, the meeting is being held as the race between the us and china for greater influence in the black continent continues. amina sadat zabihpour, radio and television news agency. welcoming the cooperation with iran in the gas field, the russian president said that this cooperation creates huge opportunities for both sides.

the global south has spoken on behalf of china and africa , which will affect the history of the world. the head of the industrial and commercial bank of china also says that china is looking for a board game in africa. we allocate resources to support key sectors in africa we will give this will increase financial investments in areas such as agriculture, production, energy, digital economy and high-quality productive forces. later they will be followers of china. according to data prepared by boston university, china's investment in african countries has reached its highest level in the last 5 years this year. today, it is africa's leading trading partner with a trade of nearly 168 billion dollars. this continent is at the heart of the new silk roads. an initiative by beijing to guarantee access to africa's natural resources in exchange for huge investments launched and now this meeting is being held while the competition between the us and china continues for greater influence in the black continent. amen sadat zabihpour of radio and television news agency, dear and respected viewers, at the end of this news section, thank you ve

interesting week i think were seeing the stimulus that we were hoping to see in china, the people's bank of china cut rates and we saw a little bit give on mortgage as well and this could spur demand and consumer sentiment increases that we are looking for it is interesting moves in china will send stocks soaring but the fus implications so we saw companies like estÉe lauder and lvh m which luxury brands doing very, very well this week up 18 or 19%, new record for both of them we saw casino stocks do well and we actually saw industrials and like otis elevator up 9% the record from years and years this is really a good new situation. >> china stocks in the technology sector that was very strong, his comments really matter, his one of the best investors in the last decade or two in spite of everything in china that could include ali baba, ten sent, by due which is relatively inexpensive around ten-ish times earnings people worried after the big games it's time to sell and get out but the market technicians have looked at china and see that would be a mistake in the market gets a big jump in takes d

china has borrowed the kitchen sink, suddenly the people's bank of china has in the economy to transdermallyphysical side. more i think is needed on the physicalside. system more i think is needed on the physical side. system with thoughts households as well to really get the economy moving. thank you very much. let's get some of the day's other news now. the owner of the new york sun has emerged as the favourite to acquire the uk's daily and sunday telegraph, ahead of friday's deadline for bids. british—born dovid efune is thought able to offer a competitive bid of around £550 million, while avoiding the political objections that saw a deal involving the united arab emirates blocked by the government. the chairman of open ai says the board has discussed whether to give co—founder sam altman an equity stake in the company— but no decision has been made. reports suggest the firm — one of the leaders in al, is planning to ditch its �*not for profit�* status, a move that could see it valued at $150 billion. that could catapult altman into the ranks of the world's richest people. coming up, atta

changing .4 equities, one of the big moves was fresh capital in china's major banks.hat is a major positive. stabilization fund managed pboc, the reputation is on the line. they've been known to deliver with currency, people are very sure things will happen in the chinese markets. this is filtering through. people realize no turning back. we had an interest rate cut today. basis points shaved off the rates, very positive for all things. tom: pboc not having a press conference. transparency we don't often see. in terms of policy from central bank of china, they've been given a record high for the year and consumer sentiment survey lower than expected. is this bad dater? markets rally. how are you thinking about fed cuts? mark: fair assessment. pricing became stronger, it puts pressure on federal reserve to follow-up and it has been week so it will take a lot, you have to consider that we have an employment report and people are expecting the rate unchanged. if we get a number which is worse than that that will ramp up pressure, could will be that by next week if we hav

of china's desire to be seeing a global sort of influence. tech and health would probably be good sectors to avoid. things like banks and manufacturing. basically factual. >> how long do you think can lean on exports and manufacturing to drive growth? >> we are probably getting most of those limits i would think. particularly to enter -- believe in protectionist regime in terms of will trade. >> why the? >> if you are cleaning on -- if you are leaning on export sectors, they are more likely to buy from you, it makes the sector harder to grow certainly two of the biggest markets being europe and the u.s. become less friendly to china's imports. >> what about when you look at actual risks from tariffs for mark debussy potentially going beyond rhetoric to actual higher tariffs? alluded to this a short while ago but eventually, those are written actual into economic growth in china? >> it is a difficult to answer. the tariffs are being fermented in a very targeted cash in a fairly targeted approach. china has become the world's largest car exporter in the last five years. it depends whether this becomes more hostile. maybe trump presidenc

trading in hong kong on this is reflecting what is happening in mainland china so the people's bank of china homes from 15% to 25% and interest rates have come down in china and they announced a raft of measures to boost growth, so a lot of activity in china today in hong kong over 3% on the announcements from china let's look at the next board so you can see what is going on and you can see a positive end to the day for most of the main markets on wall street which is encouraging co—so to say, about china, a key policy interest rate but also introducing measures to try and boost the housing sector in china and other measures to boost growth in the world's second economy and markets much higher on that news in mainland china and hong kong. that's all from business today and if you're watching bbc one you can join breakfast at the top of the hour and if you are watching around the world, stay with us, because i will be back in a few minutes. hello. we have seen a lot of extreme rainfall over the last couple of days. woburn in bedfordshire had 102mm of rain recorded on sunday. but on monday, i

with our banks, but i think that the use of the digital ruble, which is now being actively tested by the central bank of the russian federation and the digital yuan of the people's bank of china, will be the basis for such a bricks bridge platform. in this case, the october meetings of the brics leaders will apparently be finalized, so to speak. this is the most important thing. indeed, this will be a very big step forward to the dedollarization of the world economic system, and of course, to create a normal environment for economic cooperation of all friendly countries of all countries that are tired of american global dominance. then the president also had an important meeting with alexander, he is the second person in serbia. naturally, the focus was on the issues of our bilateral relations, let's listen to president putin. as for our bilateral relations, they do not need a special presentation, bearing in mind the deep the roots of our relations, historical roots, and spiritual closeness of the peoples of russia, the russian people and the serm people. unfortunately, as far as trade and economic relations are concerned, we are seeing some small, but still a decline - in t

tier consumers kind of being more stable, one of the topics that we currently like his culture bank of china and its results in terms of interest margins. so we are now focused more on companies that are able to sustain attractive dividends. we are still focused on the consumer side of the story. another example is we had decent results from tencent. all pretty broad-based improvement in its activities, so that's also a positive signal. i think you have to be selective to see which companies are adjusted to the weakness in the current cycle and should benefit as recovery comes through. avril: it's becoming difficult to be selective on chinese equities. when you look at picking out the winners, amid the smaller pie that we are seeing in china, how are you discerning, in terms of sectors, perhaps you are looking at -- i do know, somewhere there is less competition. the competitive aspect came through on consumer start earnings as well. >> first and foremost, we still prefer the names that we rate as wide or narrow moves. these are companies that we think and sustain their competitive advantage

of that. and what we've seen obviously as you've just mentioned china has, you know, through state policy banksina development bank, export import bank of china issued $120 billion worth of loans to various african nations but that started to trickle off after 2016 and through the pandemic it dried to a haul to about $4.8 billion. why? many nations in africa are in debt crisis or on the verge of a debt crisis. three makes thes have defaulted. zambia, gappa and ethiopia. so they're reassessing how far they've been overextended with these loans from china. and china with the slowing economy is reassessing what they can get out of these investments better going forward. better returns on their investment. you see a number of different stories all across the african continue tent whether it's in kenya with a rail line that ends in nigeria's capital. you also have a light rail that looks uncomplete or not even being used. these are mega projects that china has helped finance but these african nations are so indebted they haven't been able to service their loans by rising interest rates through the p

the people's bank of china has cut the interest rate on one year loans to 2% from 2.3%.timulus package. here is a reaction from guests across bloomberg. >> chinese markets have gone through a long period of underperformance. people just don't want to be there. what the moves are saying is we have probably reached the end of the underperformance. >> the things we would need to see that fundamentally alter the trajectory are the ingredients including reforms that ultimately push the savings rate down and drives structurally higher demand from the household sector. >> they need to take more decisive measures with larger scale funding to help stabilize the property market. >> is signals a change of the policies. it went from a highly reluctant stance showing a high degree of tolerance for slower growth over the last two years toward one that is much more proactive. >> it will probably take some time to see how effective it is. the stimulus policy they have announced. scarlet: we are joined from washington. let's take a step back. in this package announced over two days are a

the s&p 127, cat country for in the dax index higher by 125, in asia overnight china's central bank announcing a slate of stimulus, the shanghai composite, hang seng up better than 4% on the session china doing a slate of support measures admitted economic slope, slump rather and as a result the major indices stored overnight, the shanghai composite of 4.1%, the hang seng up 4.1% in china holding the rear briefing in an attempt to boost the economic standing. back at home the labor department tries to revert the looming port strike which could shut down shipping before the busy holiday season everything you need to know coming up, put polls put president trump ahead of kalama harris is in key swing states georgia, arizona north carolina as the 45th president is planning to roll out new incentives today at 1:00 p.m. eastern for foreign businesses to operate out of america with incentives to do so after campaigning a pic of vania and appealing to farmers with plans for tariffs on china kamala harris says she will roll out more pieces of her economic agenda in pittsburgh tomorrow, jordi the conversation all

support their domestic activity in their own economies we can also look at the messaging of people's bank of china, talking about further policy support that's important too maybe the most important key investment is there's a significant discount of the chinese market relative to global stockmarkets and european china typically trades cheap any good news is doubly good news it's important to separate the distinction around how the economy is going and how that policy and support and stimulus is going to support economic activity over time, which is an interesting open question. too soon to say. we'll have to watch the data closely and separate that from the observation of what it can do to animal experience and investments in the stockmarket, particularly at a point in time when the stockmarket is significant. >> let me ask you on the other side of the story. you were highlighting what we got from the fed last week also this provided a little bit more certainty about what to expect from the fed, but as a result, i've been seeing a couple of comments suggesting that this is the moment to buy when

will come through with a lot of the companies i'm not hearing you talk about china don't fight the fed in china you would've either fed with a central banker the peoples bank of china in which basically made it very clear started a week ago that they will add stimulus to jump up the economy, jd.com we could cycle through these, billy billy had an incredible week up 35% is quite unbelievable dipping your toes in all and brent in anything that is foreign like china? >> we like international stocks and we've been concerned about emerging markets most like in the u.s. with the stimulus does of the rate cutting does is it too late investor should continue to own international stocks and we think a better way would be for the development of which is europe which gives a better balance if not also, that is a year that we focus on more and develop markets of emerging so we have some exposure with india, mexico and other places. >> you saw this engine up 10% overnight will see if that happens, brent, chad, thank you so much. time is running out to avert a massive port strike that could result in major supply chain disruption and we know what that does it makes pric

of more than 15%. china's entire stock market was on red bull overnight. red dragon, red bull, whatever you want the call it. the people's bank of china, their version of the federal resive, brought out the money bazooka by announcing a plan to trim interest rates, lower the amount of reserves banks have to hold and cut rates on existing mortgages by half a percentage point. they are desperate to stimulate a flagging economy. shanghai composite overnight up 4%, same within shenzhen composite. and suddenly you want to talk about action-reaction, copper prices skyrocketed to the 10-week high. markets anticipating stimulus will rejuvenate china's building and real estate sector and then, of course, reaction that spills over the copper miners. copper miner or freeport-mcmoran coming along for the ride gaining 8% at the moment. it is at the very temperature of the s&p right now. so let's bring it back to the surprising september market performance this is the month that's known sort of as the stock market's junkyard dog, one that most years has left legions of investors bloodied with losses. so let's get right to the floor show to

and the world bank of china provides easy lows, was loan repayment plans and low interest rates. that's what i did is looking for. however, that concerns within the niger and society, especially from economies, they want to see the balance of trade improved much farther. they want to see more chinese investment in manufacturing within the country to utilize local real materials for exports and full look of development that in, in they say we also encourage job creation in the country. there is also that concern that much of the, uh, some substantial amount of the lowest being taken from china have been mismanaged by officials in previous governments. and that is a big concern for many, many degrees. i'll just say that about, as well as the for a many leaders will plead for major concessions on debt restructuring, a more infrastructure investment among them sent a goal will be hosting the next you olympic games. nicholas hawk reports from its capital the car. it's a race against time in less than $1000.00 days. 1400 athletes age between 15 to 18 will take part. in the car 2026 you

then you talk about the bank of china was in trump tower these are all a place, but to some extent structure. now, he's over the board. you're talking about cats and it's not just that you're talking about cats and dogs which is crazy and of itself it's that you're going from rally size to cats and dogs. it's a malfunctioning appliance. it's like we all have people in our lives with a laptop at some point it might have been the laptop now, it's you know, the battery drains fast, the screen colors are off it's really heavy considering what's going on. end, you have to restart a lot to get back to factory default. and i think that's what we saw last night. he is not carrying thoughts through when i if i were to lose, i thought why now it'd be silent for a second or two and then i'd recover i think he's losing train of thought and he's just blurting out the next thing in his mind. he's not using names a lot like look, he goes off about covid but never mind says anthony fauci. i mean, if this had been four years ago, you'd have to hear five minutes about anthony fauci or jim comey when he goes o

awhile, probably not going to jump in here >> just recently, you had a number of banks cutting their growth forecast for china and a lot of banks saying that china is not the place you want to be equity-wise, but the distinction you made between tarp and what happened during the pandemic is very applicable here, because it is not a direct handout. so, the transmission mechanism is more roundabout it's not a direct check. china can't afford to create a welfare state. that's just not feasible so, what are they doing? all these other measures so, can this actually be transmilted to the consumer in an effective way, so they will actually go and spend, which is what all these stocks are moving on that notion that this will get consumers to spend but the property issue is the problem here, and that's not necessarily fixed at this moment >> whoa. i mean -- shut it down yeah, i think it's interesting that the outperformance came from consumer names. so, if you look at jd, baba, you look at pdd, i mean -- so, they've been so unloved, right people have this narrative about the chinese consumer, we know it's property-ba

capital of canada chanted slogans against the zionist regime and demanded an arms embargo on the occupying regime and an end to the encroachment on gaza and the west bank. the president of china in a joint meeting with the heads of african countries in pekin he said that his country will provide more than 50 billion dollars in financial support to africa in the next 3 years. xi jinping added this amount in forms such as corrections. military and food aid investment credit is provided. night and days of heavy traffic at beijing international airport. leaders of more than 50 african countries arrive here one after another. from south africa to kenya, burundi and egypt to participate in an economic meeting hosted by shirin ping, the president of the china cooperation summit. we will make the highest efforts to build a common society between china and africa. chinese government and african leaders they try to formulate a new development plan and pave the way to create a constructive and stable relationship. what the chinese foreign minister refers to as a new document for the development of africa-china relations includes things such as the provision of modern technologies that e

of 1% and we are seeing tokyo electron softer in japan. china has warned japan of retaliation over potential new chip curbs. let's look at china property stocks as well, banks because bloomberg is reporting china is considering cutting interest rates up to $5.3 trillion worth of mortgages, to lower cost for homeowners but squeeze profits for banks. more in the moment. this is bloomberg. ♪ ryan t. writes, "moving is stressful. can you help me take one thing off of my to do list?” ugh, moving's the worst. with xfinity, you can transfer your internet in just a few taps. just a few easy moves. did somebody say “easy moves”? ♪ ♪ oh no. no, i was talking about moving your internet. this will move the internet. ♪ ♪ ooh, ooh. -let's keep it professional. professional dancers! -ok! stay connected during your move with the best in home wifi. easily transfer your services in the xfinity app. bring on the good stuff. paul: welcome back. china markets heading to lunch right now, a bit of a sluggish day on the mainland, we are seeing the csi 300 better by a couple of points and the shanghai composite pretty flat. also more news coming through that one of the big investme

tech or india, probably a lot of sectors, and a lot of names in china and if you look at say bank ofmerica for fund managers there is a lot of optimism for the oil markets and japan and india. the buckets which have risen, deck stocks, they remain the top bets so all in all markets are normal but the press conference is the next thing to watch out, the press conference. if he is able to manage the narrative it looks pretty positive. tom: the governor coming up at 730 across the markets in july so we will monitor it. . now to the french politics. proposing a new government after two weeks of consultations with rival groups. i'm joined by caroline connor. are we getting closer to the french government? >> after two weeks since prime minister we should get final details of new government before sunday. two months to name a prime minister and then two weeks for the prime minister to present a government. shows you the complexity when no one has majority in parliament. there was speculation they would quit over the past few days. a bit of a poker game to get people on board and one less d

i'm also talking about the people's bank of china. both of them coming out. ey give the message to the central bank. now it is time for you to do your part, and they are cutting rates more aggressively, as well. jonathan: i did this a little bit earlier, chinese tech is up by something like 20% on the week. look at european luxury. and all of these names just flying. we have seen movies like this before, china comes out, says the right thing, does a little bit of the right thing at the same time and then they fade and roll over because it does not gain traction in the real economy. there is a difference. lisa: you have david saying yesterday that basically about what the fed did last week with the china easing and i did not know that they would bring out the big guns the way he did. but then the china beige book's came out and said, the major take away is that the widening chasm between assets of the macroeconomy, and he does not buy it, and it is not necessarily doing more than that. annmarie: when it comes to asset price, you are turning bullish pretty quick

special meeting tomorrow for its financial regulators, including the governor of the central bank, the peoples bank of china they're finally serious about stimulating and maybe we'll get the bazooka we haven't gotten over the last few years because the data in china has gone from bad to worse, so perhaps that's helping some of the commodities trade, which had already been firm last week in oil and nat gas and gold and that sort of sector. energy outperforming today. >> china has been tough. a piece over the weekend looking at the new phrase that the chinese have to describe their economy. "garbage time" a sports term when the game is so lost all that's left is just the end of the clock, essentially, and that's on social media in china that's kind of how they're referring to things because xi's not going anywhere for now and at this point there doesn't seem to be hopes that there will be policy that will reverse some of these trends in unemployment. >> significant stimulus they don't seem willing to do, particularly sort of at the local level to try to at least give some semblance of confidence to the proper

50 basis point cut from the fed you had the stimulus coming out of china the chinese stock soaring all week because china and central banks weighing even more stimulus injecting $145 billion into the banks when you think of the china stimulus home and industrial metals you don't see much of that quite yet and what bothers me about china they become increasingly a government controlled economy. it might well be the all the stimulus in the world is not going to bring china back to where it was when china relied more on market forces to drive growth, moreover china faces the threat of higher tariffs on imports from china and the united states after this year's presidential election. maria: i would not touch the chinese stocks we don't know how much the ccp is subsidizing other companies they're not giving us accurate proper reports, had an impact this week for sure and we have the job that was out this week, what are you expecting what do you look at on how to engage allocate capital. >> 135,000 new jobs for the month of september down a little bit from what we had in august, the august number is probably going to be revise

bank of america cutting down to 4.8% from 5%. yet another of these big banks cutting its china growth forecast. e aingele is big bank seeing china achieving the 5% growth target. u.b.s., j.p. morgan both a 4%. bng of america going further as well, cutting its growth forecasts for 2025 and 2026. way down to 4 nevada%. -- 4 1/2%. >> this is this macroeconomic backdrop after the data over the weekend reminded us how weak things are. i think it's no surprise that we're seeing yet another large investment bank just kind of bring us back to terms on the expectations of growth for china this year. but taking a look at the story of the day as well, what we're seeing that selloff continuing in asia chip stocks. we're seeing the likes of tsmc and samsung electronics. as well as pairing some of the earlier declines, tsmc's earnings are the direct suppliers for nvidia on a day where we're seeing a real, really, steep drop. that's it for boom blergs that's it for boom blergs markets asia. ♪♪ sandals jamaica sale is now on, visit sandals.com or call 1-800-sandals with so much entertainment out there wouldn't

deputy representative of china in the united nations , stating that the international community should not allow the human tragedy of the gaza strip to be repeated in the west bank, said: china wants israel to attack stop the west bank and respect the preservation of the current status of the holy places in quds. but the representatives of the united states, france, and england at the united nations once again reiterated their unwavering commitment to they emphasized the security of the zionist regime and proposed the release of the zionist captives in the gaza strip . the president of turkey said in a joint press conference with his egyptian counterpart in ankara that the two countries have an immediate ceasefire in the gaza strip, especially recep tayyip erdogan and stop the killing of palestinians in the gaza strip and achieving a ceasefire should be a priority. erdogan also said that the zionist regime is preventing humanitarian aid from reaching gaza and is trying to break the will of the people of gaza by starving them. erdoğan rejected netanyahu's accusations against egypt and said: "turkey supports the efforts to try the officials of the zionist regime."

of china. those chinese stocks soaring all week because china central bank is weighing even more stimulus, injecting5 billion into the banks. what do you make of this china stimulus. well you know that may put some more upward pressure on commodity prices. oil industrial metals. you don't see much of that quite yet though maybe a little bit higher. what really bothers me about china is the fact that china has become increasingly a government controlled economy. that's true. it might well be e world is not going to bring china back to where it was when china relied more on market forces to drive growth and moreover, you know, china faces the threat of higher tariffs on imports from china in the united states after this year's presidential election. yeah. look, i wouldn't touch those chinese stocks because we don't really know how much the ccp is subsidizing these companies. they're not giving us accurate profit reports. but still, it had an impact this week for sure. john, let's look ahead. we've got the jobs numbers out next week. what are you expecting. what do you look at in terms of gauging how t

ken wilcox, the former boss of silivon valley bank knows all about the challenges of doing business in china out for us. the biggest lesson i would say is brief prepared for things that you wouldn't otherwise expect. china may look similar in many regards, but in so many regards looks are deceiving. could you elaborate on that? what is so deceiving? so many different things, _ what is so deceiving? so many different things, one _ what is so deceiving? so many different things, one is - what is so deceiving? so many different things, one is the - different things, one is the extent to which government is involved. i would say if you are operating in china and you are operating in china and you are not being controlled to one degree or another by the government, you are probably doing something that is totally insignificant and a very little value, but if you are actually doing something that is significant and of value, you are going to be controlled. the outcomes will be controlled by the government. if outcomes will be controlled by the government.— the government. if you would talk a bit _

swift, from something else, yes, there is a system for transferring interbank messages of our central bank, yes, chinauch a system, iran has such a system, other countries have too, but to combine these systems or agree on what we will work on, these are the most such a sensitive, most painful question, because, well, essentially, this is part of the country's financial sovereignty, so negotiations are underway here, naturally they are quite discrete, closed, but our colleagues are finding ways to move forward, there are, let's say, such temporary palliative forms on how to twist. i cannot help but ask a question about a possible single financial unit within the framework of brics, to what extent is this possible, what work is being done in this direction, what kind of unit could this be? the need arises, because countries like brics, yes, they are irritated by the sanctions pressure that is being put on them, i mean secondary sanctions, i mean simply political pressure. in finance, in energy, in the subject of the same green economy, yes, we are making , we are making our contribution, we are aware t

bank of england. brent that 72.91. gold that record levels of .1 of 1% at 2659. let's cross to mark cudmore for analysis on the market moves of the day. let's start with the china peace. what is your view on what we have been hearing, further support for the banks, liquidity injection for banks. what is your sense of whether these gains can be sustained and what the implications are for that economy? mark: i think these gains can be sustained. what we saw was a major turning point in the story. if you want to take this and a few of today's announcement, the situation in china has been there is been a lack of demand for that kind of love. supply is not the issue. the capital injection does not make a big difference. they are already well capitalized, but that is the wrong way to look at this. the point is that they are continuing to add to measures having already given the massive cocktail of stimulus for every sector. they are trying to generate animal spirits targeting the equity market, which is important, but they are really targeting the equity market a blood providing support for the consumer, m&a, property market, mortgage rates, almost every single aspec

of the asian development bank albert park. he was talking about chinese stimulus and putting more money into the hands of consumers. we are getting reports that exactly what chinacash hand—outs to the poor in a rare announcement of direct aid. that's according to state media, the money will be distributed before october the 1st, the start of the national ist, the start of the national holiday. the move follows a series of stimulus measures that were announced by the government this week. turning to the world of art and luxury, christie's has opened its new asia headquarters in hong kong. the auction house holds its first sale today where an array of artwork, including two multi—million—dollar paintings by claude monet and vincent van gogh, will be up for auction. but the global art market has been struggling amid a difficult macro environment. christie's apac head, francis belin. the sales were down in the first half but the results were very resilient. the rates across our sector were very strong and the prices we achieved for the objects were equally strong. we are excited about the second half, we are very excited about this new headquarters we just opened a

so the root of these problems, i felt well to say that one word is china, china used to be the strongest call market in the world. and specifically, some of the german carmakers were banking fully on a china and especially folks log in. they actually got about a 3rd of their sales, a 3rd of their revenue from china. so they had a full bed on china and that went very well for a number of years. but over the last couple of years, china has the weekends in terms of the car market there we have initially with realistic prices turned into a bigger economic crisis. so, so people are not spending that much and even more important just domestic competition. now the chinese have invested in their own car sector. so german carmakers are doing a lot worse. there. combination though, is a key jim and industry at the end. is the government likely to get involved? yes, the government has already involved itself just to de just earlier this morning. well that, how big the comic minister we have since just referred to here was that the volkswagen plant in northern germany in the town of and then, and he said he wants to get involved to a point where he hopes that i want to of a statement

of her concerns that the exploiting u.s. data. i want to get your take china's central bankd to revive the economy but all of these other things affronted centered in terms of what china has been doing in exploiting the u.s. these bills are trying to stop that, your thoughts? >> these bills are essential in the house had the china week the 25 bills that passed which are a step in the right direction but they were not strong enough, they did not cover enough areas. i'm glad senator ricketts has a bill on the financial sector which is really important. we have to stop underwriting the enemy as you say. we have to go a lot further than we are prepared to at this moment. maria: my special undermining the enemy is streaming on vaccination is specifically looks at the companies traded on the u.s. exchanges that investors may not realize underwriting the enemy by investing in those companies who. >> certainly when you talk about underwriting the enemy that is were signal, that is a second-worst signal that we've gone from china in the last ten days which means that xi jinping is ab

make of the china stimulus it's a week of china bullishness because of the ccp injecting money into various sectors yesterday saying china ways injecting $142 billion of capital into the top banksf you look at the chinese stocks trading in the u.s., by duke, ali baba, they are soaring because of the china stimulus. what is your take on the impact of the china stimulus on the rest of the market on u.s. companies. >> china is having a very difficult time locally or in country, their imports are down and therefore they have to stimulate their exports in their dumping their goods anywhere that they can in the world, that is going to go ahead and cause a difficult situation for competitors abroad on the goods that they manufacture in country and shipped throughout the wo world, the stimulus being done by china's government who can almost afford to be endless and people need to recognize that even though the undergoing challenges in terms of the real estate sector at home or their banks haven't been investing in failing investments, at the end of the day the government itself has a lot of firepower to stimulate, you are playing with fire if you go to go ahead and be short china or ch

of this. china's central bank unveiled a range of bigger than expected monetary policy in a bid to boost the strugglingconomy. the pboc announced a 50-basis point cut and it will cut 20 basis points bringing it to 1.5%. the bank said interest rates on existing mortgages would be reduced by average of 50 basis points. let's dive into the sectorial moves with the names and you think about how important this announcement is. anglo american shares up 6%. rio tinto up 4.5%. this story is vehhaving implications with the luxury stocks in europe. i highlighted household goods this morning. look at the individual stock names. lvmh up 4.5%. kering up as well. analysis suggesting we are getting closer to the bottom of the luxury cycle. so perhaps more upside in some of the names in the window of three-to-six months according to this one analyst. the announcement from china having significant implications in the equity space. looking at hang seng which closed 4%. shanghai closing at similar levels there. to highlight some officials are looking at the announcement from the chinese central bank and suggesting it was