earlier ice folks, he has escalated to president of the european chamber of commerce in china. i began by asking him how worried to foreign businesses are about this new anti espy national. them? i think we're not particularly void and above the anti is the boss and no i. so i think it's important that the, the context of the vital development that you've seen in, in china or several years now. we have seen that security considerations, security, been self reliance consideration obligated to saving from all aspects of the, of the cannot make life. and i think that is probably the, the primary concern for us as we are not aware of specific instances where companies have had issues with the anti is in us know itself is also ready to do. it only took effect on the 1st of july. it is all of this into a panel of more of all the sensors of the economy that are coming within the purview of a security across the races you're seeing now for several years to strive towards. it has the chinese. so for the highest was the full energy within a technology that's something that has a fairly d

will stick to the presence of the european chamber of commerce in china. also coming up maritime nations agree on a goal to flash the admissions from the shipping industry to net 0 by 2015, lost our climate reports or how feasible losses this is due to the business on kate ferguson. and thanks for joining me. just days ago, a new on the espionage low went into effect in china, shooting fears that foreign businesses in the country could face legal risk. as a result, the law expands the government's definition of espionage to cover accessing any documents related to national security. this could include university research, multinational business dealings, or even social media chests. meanwhile, in a separate development, china postponed a trip by the use foreign policy chief joseph burrell. scheduled for next week, without giving a reason. tensions between western powers and aging are currently high as countries seek to reduce their reliance on the chinese economy. earlier ice folks, he has escalated to president of the european chamber of commerce in china

ask on president of the european chamber of commerce in china. thank you very much. i to night to some of the other trouble business stories making news. and staying with china is foreign relations us treasury secretary, john jaelyn says a d coupling of the us on chinese economies would be quote, virtually impossible. she made the comments during a 4 day visit to the country intended to stabilize on increasingly tens relationship between washington and spacing. twist or has reportedly threatened to sue massa off the launch of its bible short messaging platform. the new up threats attracted more than 30000000 users and its 1st day twitter owens by 11 multitude mess up, run by mark sucker burke of on low fleet using its trade secrets by hiring former employees in the united states hiring appears to be slowing down with fewer new jobs unexpected creation in june. the world's biggest economy out of 209 size and job last month died from 306000 in may. the vickers may come as welcome use. the federal reserve was recently post it's aggressive interest rates, high come pay. c

on patient will stick to the presence of the european chamber of commerce in china. also coming up maritime nations agree on a goal to flash submissions from the shipping industry to net 0 by 2015. we lost our climate reports or how feasible losses. this is dw business on kate ferguson. thanks for joining me. just days ago, a new on the espionage low went into effect in china, shooting fears that's foreign. businesses in the country could face legal risks as a result. below, expands the government's definition of espionage to cover accessing any documents related to national security. this could include university research, multinational business dealings, or even social media chests. meanwhile, in a separate development, china postponed a trip by the use foreign policy chief joseph burrell. scheduled for next week without giving a reason. tensions between western powers and beijing are currently high as country seek to reduce their reliance on.

in news. we have yet to see details, but headlines suggest there are more measures coming out from china to help boost consumption. the ministry of commercelined a series of four parts. let me look at this statement again. four parts, 11 measures roughly in total. strategies to boost consumption, financial companies should help boost household consumption. it is also worth noting that we were shut down yesterday and hong kong. the losses were exacerbated by concerns over property banks. the losses over two sessions. the last 30 minutes of trade and hong kong, back yet again and 19,000 on the index. let's have a look at japan right now. we were shut yesterday in japan. benchmark wise, 30 24. dollar-yen at about 138. going into this week, you have a boj decision. it is really how the curve has shifted, may be in anticipation of a shift. traders are starting to speculate. if you are hearing the sounds of chirping birds in the background, your not imagining anything. haslinda: the birds are happy. australia's treasurers says the incoming bank governor will be able to combat inflation. >> inflation is moderating in australia, but it will be hi

in a statement, china's ministry of commerce said it was to protect national security interests. the largest producer of gallium and germanium, which are used in a variety of products, occluding bitter chips —— including computer chips and solar panels. this is the latest developed in the global battle to control chip—making technology. michelle fleury in new york there. well, those us—china tensions also puts pressure on one of asia's largest financial markets. the operator of the hong kong stock exchange is now trying to attract more international listings and overseas investors by opening offices in new york and london. earlier, i spoke with the head of the hong kong exchanges and clearing, nicolas aguzin, and asked him how they're affected. it is obviously a tough period, during covid, and this is precisely why we want to make sure that we are out there with international investors, opening an office in new york, trying to make sure that we transmit the message of what is going on in our market and also seek some feedback of areas where we can continue expanding our presence.

china more leverage in future trade discussions. gallium and germanium, the two metals in question, will be subject to export controls starting august 1st. in a statement, china's ministry of commerce "to protect national security interests." china is the largest producer of gallium and germanium, which are used in a variety of products, including computer chips and solar panels. this is just the latest development in the global battle to control chip—making technology. let's talk more about this with andrew gardiner, director of european technology research at citi. thank research at citi. you for being with us assessment thank you for being with us assessment of how significant these restrictions are? $5 assessment of how significant these restrictions are?— restrictions are? as you have 'ust re orted, restrictions are? as you have 'ust reported. it fl restrictions are? as you have 'ust reported. it is �* restrictions are? as you have 'ust reported, it is an i restrictions are? as you have 'ust reported, it is an escalation h restrictions are? as you have just reported, it is an escalation of. restrictions are? as you have just| reported, it is an escalation of the ongoing trade w

overnight, abc news confirmed the commerce department was also targeted during a recent breach of microsoft's cloud security linked to hackers based in china . officials say the hackers targeted commerce secretary gina raimondo emails beginning in may and the attack went undetected for about a month. the state department confirms it, too, was targeted, saying it took swift action. we took immediate steps to secure our systems, took immediate steps to notify microsoft of the event. >> the incident remains under investigation and we continuously monitor our networks and update our security procedures. >> the cyber breach started just before secretary of state antony blinken traveled to china in june. and while the commerce department has been imposed sanctions on beijing, then they had over 30 days before it was even reported and almost another 30 days before it was fully mitigated. >> so this is a very long period of time to gain access. >> sources say it appears unlikely that the hackers got access to any high value classified information, but that the threat is growing. the number of cyber attacks affecting government organizations rose 9

in china. they have corporate rules. they have a board of directors appeared they are listed on the stock exchange but every company in china is beholding to the chinese com commercepany in china has a communist celt watching over company activities. every board of directors has to have a communist party member sitting on the board to make sure no one at the company crosses the party line. the 2017 a lot listen to this in 2017 chinese commerce party passing intelligence l that said all companies have to proactively turn over all useful national security information to the national security state in china that means all companies effectively run by the chinese communist party turn over all their data to the chinese communist party in real time all the time. they are collecting all the day tdatayou pointed out, charlie, e apps contain a malware or spyware that ransack your phone comment to call personal data including banking information and who knows what the chinese commerce party when they want to do that information. >> what is your best guess of what they want to do with this information? >> i am not buying into the temu craze i don't think you know what else s

in a tit—for—tat war between washington and beijing after china slaps export controls on two rare metals that are used in the manufacturing of semiconductors. the move by the chinese ministry of commerce the metals gallium and germanium which china is a major producer of. from next month exports of these metals will require a license. michelle fleury has more. us treasury secretary janet yellin is heading to beijing and hers is heading to beijing and hers is the second trip i a cabinet official to china since ties between the worlds to top economies deteriorated earlier this year. her goal is to study the relationship but she has her work cut out for her. ahead of her visit beijing said it was exposing —— imposing export controls on two rare metals essential for making semiconductor essentialfor making semiconductor is. this is seen as a tit—for—tat response after the us, the netherlands and japan recently wrist directed chip exports to china. some say the move is aimed at giving china more leverage in future trade discussions. gallium and germanium, the two medals in question will be subject to export control starting august one. in a statement, the chinese ministry of commerce said

china more leverage in future trade discussions. gallium and germanium, the two metals in question, will be subject to export controls starting august 1st. in a statement, china's ministry of commercegallium and germanium, which are used in a variety of products, including computer chips and solar panels. this is just the latest development in the global battle to control chip—making technology. staying in the uk, a typical five—year fixed—rate mortgage deal now carries an interest rate of more than 6%. it comes after the bank of england raised interest rates to a 15—year high of 5% last month, as it tries to bring down inflation. typically over 100,000 customers come to the end of their mortgage deals every month and often that means paying thousands of pounds more every year in interest payments. earlier i spoke to stefano feelo—pay who's an independent mortgage adviser based just outside of london. he told me his customers fear buying properties due to the increasing rates. rates have been artificially low for a good few years now so we are looking at people coming off a very low fixed rates, two year, five year fixed rates now, and getting the shock of a lifetime in what is ava

in the case. kumasi: abc news confirmed the commerce department was also targeted during a recent breach of microsoft cloud security, linked to hackers based in chinajobina: officials say the hackers targeted the commerce secretary's emails beginning in may and the attack went undetected for about a month. the state department confirms it was targeted, saying it took swift action. the bridge started just before antony blinken traveled to china in june and while the commerce department has been imposing sections on beijing -- sanctions on beijing. >> they had 30 days before it was reported and almost another 30 days before was mitigated. this is a long period of time. jobina: it appears unlikely the hackers got access to any high-value classified information, but the threat is growing. the number of cyber attacks threaten government organizations rose 95% in the last half of 2022. email data from 25 organizations was exposed, the chinese government responded overnight by criticizing the u.s., saying quote the u.s. is the world's biggest hacking empire. reggie: president biden is in finland for a summit with nordic leaders. this is an opportunity for

china more leverage in future trade discussions. gallium and germanium will be subject to export control starting august one. in a statement china's ministry of commerce is the largest producer of gallium and germanium which are used in and germanium which are used in a variety of products including computer chips and solar panels. this isjust the computer chips and solar panels. this is just the latest development in the global battle to control chip making technology. the taliban have ordered hair and beauty salons in afghanistan to close. it's the latest restriction on women there. since the taliban seized power in august 2021, they've steadily eroded women and girls�* freedoms in public and private spaces. according to a report by un women, roughly 91% of women said their lives had changed profoundly since august 2021. arunoday mukharjee reports on the latest limitations on women's participation from delhi. this is the latest decision taken by the taliban regime since it came to power in 2021, the ministry of vice and virtue spokesperson confirmed to the bbc little women's talents need to be shut down within one month. we asked why a space which w

china more leverage in future trade discussions. gallium and germanium, the two metals in question, will be subject to export control subject august one, and china's ministry of commercetional security interests. china is the largest producer of gallium and germanium which are used in a variety of products, including computer chips and solar panels. this is just the latest development in the global battle to control chip—making technology. the battle will go on, i'm sure. michelle fleury with the latest. later today, president putin is expected to participate in his first multilateral summit, since an armed rebellion, headed for moscow, rattled his leadership. leaders from the shanghai cooperation 0rganisation will convene, virtually, for a summit, hosted by india. the sco is a security grouping founded by russia and china to counter western alliances and has members from east asia to the indian ocean. the war in ukraine and continued tensions between china and the west are expected to dominate the talks. live now to duncan wrigley, chief china economist, pantheon macroeconomics. good to talk to you again. this is really fascinating, the shanghai cooperation organisat

china more leverage in future trade discussions. gallium and germanium, the two metals in question, will be subject to export controls starting i august. in a statement, china's ministry of commercena is the largest producer of gallium and germanium which are used in a variety of products, including computer chips and solar panels. this is just the latest development in the global battle to control chip—making technology. concerns are growing about american evangelicals with an anti—gay stance influencing legislation against the lgtbq community in africa. kenya is the latest country to debate such legislation with one of its parliament members saying the bill will be tougher than the one passed in uganda. our africa correspondent catherine byaru hanga has more details. finding comfort in the midst of a political storm. this small church in kenya's capital was set up to support lgbtq people in a country where most cannot come out. gay sex is already banned here. but now, even identifying as lgbtq could become illegal. there will be violence for people that are queer and people that are not queer. it makes people bolder. anyone that had thought they would want to now, you know, do

in china too. china hackers also got the commerce secretary, gina rah mondeaux, the u.s. arted off at the cyber curt and infrastructure security agencies, and that started back in may and june. china's breach of microsoft cloud e-mails may expose deeper problems is what we're looking at. microsoft acknowledged a breach july 1 11th, and even though they're taking steps to block this abuse, a lot of questions remain about how and when microsoft cloud services were compromised. this though, joey, should serve as an enormous wake-up call to every american to lock up your tech whether you are a government agency, a corporation, a mom and pop business, an individual, on your computer, tablet, smartphone, threats are at the highest in history and getting more dangerous. one in three homes with computers are infected with malicious software. 47% of american adults have had their personal information exposed by cyber criminals. period. you cannot count on uncle sam or big tech companies to protect your privacy and security, so, i mean, this is something -- i have been ringing this

china more leverage in future trade discussions. gallium and germanium, the two metals in question will be subject to export control starting august one. in a statement, the chinese ministry of commerce was to protect national security interest. china is the largest producer of gallium and germanium which are used in a variety of products including computer chips and solar panels. this is just the latest development in a global battle to control the chip making technology. those us—china tensions also put pressure on one of asia's largest financial markets. the operator of the hong kong stock exchange is now trying to attract more international listings and overseas investors by opening offices in places such as new york and london. earlier i spoke to the head of the hong kong exchange and clearing and ask how they have been affected by tensions. it has obviously been a difficult period during covid and this is precisely why we want to make sure that we are out there with international investors opening an office in new york, trying to make sure that we transmit the message of what is going on in our market and also seeking feedback in areas where we can continue to expand our presen

now competition is heating up in china's e-commerce space. enomics sees challenges for online retail giants in the second half. let's get the mid-year outlook from senior consumer and tech analyst catherine lim. catherine, what are you seeing right. well, indeed, i think the e-commerce landscape is still evolving. and particularly if you actually look at one of the biggest market out there right now, china, there is a lot of competition that's ongoing whereby, you know, you get social commerce companies now trying to take a part in the e-commerce or the retailing side of things. so lots of activities that i do expect to actually continue through second half of the year. and essentially that actually poses risk for incumbents like alibaba and jd.com. what happens in 2024? right now, that's a good question because as we step into the second half of the year, a couple of things that will be happening which obviously we are looking forward to alibaba executing on, you know, the ipo spin off the, you know, spin off of their cloud operations itself.

. >>> new details of that security breach in the commerce department by china. the they have access to the commerce secretary's regina remando's office were attacked. do we know why they were attacked? >> well, i can make a guess that they have targeted huawei and gte has sanctioned them, the enforcement arm of the u.s. government of export controls, and it is tough on some chinese companies and not to say it is some sort of retaliation, but more that the chinese hackers would be interested in the communication that any senior officials are having or planning a next level of sanctions of the chinese companies, and we don't know if that is happening, but set a valid reason why they would want to gather information from those officials. i would also expect that the department of commerce and other federal agencies is instruct their senior officials including the cabinet secretaries not to put sensitive information in the email, but it is not to say that you cannot extract useful information from the meetings and when they are meeting, and reason that they would ta

china is spying and did spy on the state department and on the commerce department this is the latest inwell as russia. they're talking about in spite of the state department as anthony blinken was traveling to china. atlas organization founder jonathan jt ward is here. we'll break it all down. ♪ there are some things that go better... together. hey! like your workplace benefits... and retirement savings. with voya, considering all your financial choices together... can help you be better prepared for unexpected events. for a brighter financial future. thanks. ahh, pretzel and mustard... another great combo. voya. well planned. well invested. well protected. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know

think wechat in china, which is social media, but it's also commerce. it's retail. it's even banking. >> so it's amazon and twitter combined sort of. >> and throw in paypal. that's what he wants. x.com changed to paypal. he's held on to x.com and he has big plans. >> this is a work in progress. x and payment plans is how he became a star and a very rich man. this clip, we're going to go back in time, 22 years ago when elon musk sold his start-up to paypal. >> there's no such thing as the eight-hour day in silicon valley in any field. approximately two years ago, i started x.com. we were only about five people in total. the company is now over 600 people. i would say it's been fairly successful given that x.com, now called paypal, is the number one financial site in the world. >> pretty interesting to see him. we were both here when he was doing that. so x.com starts with five people. paypal buys them. it turns into obviously a huge deal. now we're going back to x, and he wants to make it a bigger, better thing here. >> exactly. and he's got x.com. we're not sure he's

dialogue, again, i knew she would have a meeting with the american chamber of commerce there as well as officials in chinahese trips really bring a large gathering of ceos from different companies and many people where is this trip seems to be not having all that pageantry seems to be not having all that pagea ntry really seems to be not having all that pageantry really is a matter of just trying to build a dialogue again and that is something that the us treasury department said was the goal of this trip, to start having discussions on a more regular basis and some sort of substantial dialogue over key issues such as the slowdown of the global economy. are there any items on the agenda that these two sides may find common ground on and agree on? i find common ground on and agree on? ., , ., find common ground on and agree on? ~' , ., ., on? i think they are going in hand with — on? i think they are going in hand with a _ on? i think they are going in hand with a couple - on? i think they are going in hand with a couple of - on? i think they are going in | hand with a couple of things. one is climate, cli

in the field of investment. a very good meeting next to the state tomb the joint chamber of commerce of iran and china, which is the private sector of the two countries, is held in beijing, which is held with a strong presence of companies in beijing. some other companies also had obstacles and problems, which the chinese side removed, and these obstacles were removed for the top iranian companies of khandouzi. he added that new investments with china in various fields are implemented based on prioritization. among the almost long list of investment projects, a few of them were introduced as investment priorities to the chinese side. energy field too in the field of industry and mining, there is mineral industry, and in the field of agricultural products, of course, this social project also exists in the field of healthcare. in this list, the iraqi prime minister met with syrian president bashar al-assad during a one-day trip to damascus. dealing with common challenges and looking to the future based on comprehensive economic cooperation and coordination to establish security on the common borders, the objective

in the government negotiations. a very good meeting of the iran-china joint chamber of commerce. that the private sector there are two countries, the event was held in beijing with a strong presence of chinese companies, some other companies also had obstacles and problems that the chinese side of iranian companies and mr. khandozi added that new investments with china in various fields the basis of prioritization is carried out. from among the almost long list of investment projects, a few of them were introduced as investment priorities to the chinese side . of course, in many fields in the field of energy, there is a share in the field of industry and mining, and mineral industries are also in the field of agricultural products, of course this social project also exists in the field of health and treatment. in this list, the chief justice of mazandaran announced the issuance of an indictment for the sale of subsidized flour in the open market. a part of the allocated flour of the games was released in the market with fake towels, and the government official overseeing the activities of this company and failing to

the same time we have never been more aggressive in using our departments tools to address the threats from china. i want to say that again this commerce department under president biden's leadership has never been more aggressive and using our tools that we have been in the past for years but today it like to focus on three key areas of investment in the presidents budget budget request for the commerce department that will strengthen our ability to outcompete china. first, this budget makes strategic budgets and innovation, manufacturing and supply chain. the fact of the matter is, without strong manufacturing on the jobs and innovation and technological leadership that flow from it we are at a disadvantage in the race to commercialize future technology. number semi- written statement but the budget supports funding for the national institute of standards and technology including manufacturing extension partnership and the international trade which will improve american manufacturing capabilities, strengthen our supply chain and improve our export capacity. additionally as been mentioned today, thanks the chips in science act the dep

in addition to the government negotiations, a very good meeting of the iran-china joint chamber of commerce, which is the private sector of the two countries , was held in beijing with a strong presence of chinese companies. the iranian company also had obstacles and problems that were removed by the chinese side, which removed these obstacles for the iranian companies . new investments are to be made in iran, considering that various ministries have requested many investments , but it was the egyptian government that based on a prioritize this work should be done, from this almost long list of investment projects, a few of them were introduced as investment priorities to the chinese side, and they were noticed, of course , in many fields, both in the field of energy , and in the field of industry and mining, as well as mineral industries. in the field of agricultural products, there is also a social project in the field of health care. in this list, in addition to the meeting of the commission, a limited and closed very productive meeting was also held with the chinese head of the joint co

in china. that was revealed last week. that included the commerce secretary's emails. now we hear the u.s. bassador to china as well as the assistant secretary of state for east asia, w ho is in charge and has been building up all the back channel diplomatic efforts for those big high-profile u.s. visits to china like blinken, like yellen, like kerry. those two gentlemen allegedly had their emails hacked as part of this fairly sophisticated, according to some sources, attack more recently. it came at a time of increased u.s. china dialogue and those visits. here you are seeing antony blinken get off his plane in beijing. he is greeted on the tarmac at the beijing capital airport by nicholas burns. if this was indeed a hack from china, they were trying to glean more sensitive information about those visits as well as u.s. policy as it re-engages with its allies in east asia. when we learned last week about the gina raimondo alleged hack, the administrator of foreign affairs in beijing was asked about it. they said the u.s. should account for its cyberattacks as soon as possible rather than s

morning, friday morning, in beijing with the former advice premier then met with first public appearance with american business representatives, from the -- chamber of commerce, china, sitting around this table representatives from boeing bank of america, s&p globalt others the president in china says he appreciates the secretary's visit because when policy breaks down with china economics can be a common ground. >> people in this room agree with that approach, because we've been trying regardless what have happened political level, to -- counterparts, manufacturing, producing buying selling paying taxes, doing it all in a manner reflects u.s. values. >> you see the draw of the money in china but all eyes were on early afternoon in china secretary yellen met with second highest ranking person in the communist party in the great hall building, said this. >> we see he hopefully -- competition -- the -- >> says both companies have obligation to work together, around the globe, in leadership, however, china has same issues that keep coming up over and over year after year jackie. jackie: sure do. he had ward lawrence thank you florida congressman michael waltz armed se

when we go from here whether these export controls that china's commerce ministry announced will start being put into place from august first. anybody inhina who is selling it abroad will have to apply for an export license. good luck there. this looks like a political retaliation -- looks like. [laughter] shery: you said it. we don't talk about these metals, gallium and germanium. tell me who else produces these metals, what happens to prices if you don't have supply from china, and what happens to the products that they go into? stephen: well, prices go up. i would imagine. it will depend in the short-term what kind of stockpiles those buyers would have in the rest. but you mentioned as well those other suppliers, that will be key as well. where will the market be able to get other supplies if the prices of china-originated germanium and gallium start going up as they are expected to do. the timeframe is key. let's bring up valium. we have that spot prices here. these are from the china metals exchange. it went up overnight from 5% of the last time i checked -- gallium. prices have been depressed. china has cap the prices of these ke

commerce feel cheryl casone with all the details now cheryl. cheryl: maria according to new exclusive report "the wall street journal" the china-based company wants to sell made inoods, here in the united states. with e-commerce business, watching, tiktok going to store ship items like clothes electronics tiktok continues to face scrutiny from u.s. lawmakers over security risks. lowe's many ploye fired, has now been rehired donna hasbro was fired by company for violating policy that instructs plez not to engage with thieves one punched her causing a black eye, the company changed course issuing statement saying three suspects i've had not clear if apprehended, management became aware spoke to dona reinstating job, she has accepted the offer to return to lowe's. maria they did the right thing, all right. new poll from axios ipsos revealing a stunning one this americans say never able to retire won't be able to call it quits even though 6 % say could make them feel a lot better, only 36% aged 55 older say able to retire at age planned, almost half respondents said they have to change retirement plans due to economic factors out of their control. the song try that

in ukraine. but they do feel like they do need to sort of establish more normal relations with china. they're certainly interested in doing commerceth the west and the united states. but we spoke to jake sullivan, national security adviser about this yesterday and he made clear there is one glaring worry that remains. there's still no communication between the two militaries here. the beijing's military and the pentagon. china has not wanted to restab those contacts and that leads to a risk, perhaps some sort of incident that could lead to a reescalation of tepgs. they want to push re-establishing ties and they hope to do it before the year is out, either looking at the g20 in india or perhaps a pacific state in san francisco in the united states in november. >> yeah, that's certainly going to be one that we all have eyes on especially as biden during the campaign has sort of prided himself on knowing the relationship with china and the u.s. and knowing xi jinping. thank you, jonathan. i know you're going to be back for "morning joe" for thanks. >>> coming up, cnbc joins us live with this morning's business headlines and a look at

buying twitter he wants x.com to be a large, major app in the way of we chat in china where it is social networking but also commerce and even perhaps banking. twitter itself is just known for tweets and social media. he wants to take this to a different level. it is hard to do when you first have to break down a brand instead of build up a brand. >> and popular and well known. the banking thing is dicey. a lot of people are not going to feel safe doing that because it is not a bank so not fdic insured if you have your money there. >> most bng apps are n fdicured i you hav the money in there. you cannsfer likaypal b we't keep money in there. b trust issuesh elon sk. >>re is a thing going ar about whether x is owned by somebody else. i dnderstand you need explain. >> as if the story isn'tizarre gh, apparentl x,nd this gets even better,as ptally owned for social media purpo by meta of all companies so there i still this musk zuckerberg battle. >> as in facebook? >> yeah. that one. >> i am really confused. >> so he owns x.com but does he own x? it is after all a letter. there is still much more to go. this is a reall s

, important businesses in mexico and canada, an important business in china, and india, where flip cart is one of the biggest e-commerceompanies in the country. ed: tiger, why did they sell? >> they have been keen on indian investments. they got in, and 2009, at a $40 million investigation. in this environment, when there are so few ipos, it helps them provide distributions to their investors and provide a return to them. they got a good price for their exit, given how early they got in. ed: here on bloomberg "technology," i think we focus on india a lot. there are a lot of people there. i think it's a big opportunity. what have they set about opportunity? brendan: they first went into flipkart in 2018. they bought a majority stake for $16 billion. that is walmart's biggest ever acquisition. now, they have flipkart going toe to toe with amazon and other companies in india. the other part of it is phone pay, which is a digital payment company, which used to be part of flipkart. the two separated in december. omar has high hopes for both companies. they have talked about potential for a public offering. timing remains mu

reports emerged earlier thisin week that hackers in china breached e-mail accounts at two dozen organizations including the u.s. department of state and commercecks like this in bold in china. imagine what is possible if the ccp attacks and hacks our grid. this could shut down power to keep national security facilities like military bases for they can prevent power from getting tota hospitals. cause widespread blackouts prevent critical energy resources from getting to the people that needed the most. it is vital that we secure a critical energy infrastructure from thosese threats. especially as the systems becomes more complex. increasing productivity of our electric system praise more vulnerabilities and opportunities for adversaries to infiltrate a critical infrastructure and inflict widespread damage. these dangerous threats to our grid is why this committee reported out hr 1160 rob wahlberg and schreier critical electric infrastructure cybersecurity reporting act back in february while securing such a vast complicated network of electric infrastructure is a daunting task, it is a necessary one. lives depend on it. that actors both at home

china. two big obstacles when it comes to finding mutual agreement in terms of commerce and trade. are a few low hanging fruits they might be able to find some kind of mutual areas on. one of those might be clement change, there has been discussion on both sides of resuming discussions about finding climate change targets. we may see discussion of debt relief, the u.s. has asked china to provide debt relief to countries it has led to. we have this ambient deal potentially in the offing -- zambia deal potentially on the offing. but it is a tense visit. the best we can say is the u.s. is learning to find a better way to disagree with china. lizzy: a diplomatic dance. bloomberg's asia government and politics correspondent rebecca choong wilkins, thank you for taking us through it. now to a top story in the online space. instagram has unveiled threads, an app to can pete with twitter. users can move a red existing follower names from instagram, which has more than 2 billion users. european union users won't be able to download the app for now, as the company is still working out how da

we learned from microsoft that china or hackers based in china have been hacking the state department and the commercevernment. they hacked the e-mail account of our chinese ambassadors, nicholas burns china is saying show us the proof before you go spouting off about that. what do you make of all that, gordon? >> these hacks were in coordination with hy high level visits to beijing. even though cities were unclassified e-mails china got this was really important. also in china stuck not going to art making fast preparations to do it, the loss of any information even unclassified is important. the problem here is you have the biden administration continuing to try to minimize these attacks on our infrastructure and they should not be doing that. right now the biter ministration should be top on this but they are not. >> why? we know the chinese spy craft that went flying over sensitive military sites for more than a week. it was shot down. the biter ministration has said oh, let's let bygones be guided by arms, why? since the president really wants to establish lines of communication with china. he is

commerce, which creates jobs in america. >> commerce secretary gina raimondo, thank you for the time today. we'll be watching that a.i. meeting very closely from the white house. interesting comments there in china as well, confirming she's still planning to go even with the recent hacks >>> the return of the box office and barbenheimer we have the ceo of mattel with us that stock rallying 20%. >> and goldman sachs chief global strategist, peter oppenheimer. has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term bashen himer bashen heemer. you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. - i got the cabin for three days. it's gonna be sweet! what? i'm 12 hours short. - have a fun weekend. - ♪ unnecessary action hero! unnecessary. ♪ - was that necessary? - no. neither is a blown weekend. with paycom, employees do their own payroll so you can fix problems before they become problems. - hmm! get paycom and make the unnecessary, unnecessary. - see you down the li

china has slapped export controls on two rare metals that are used in the manufacture of semiconductors. the move by the chinese ministry of commercethem both. from next month, exporting these metals will require a licence. the announcement comes just days before the us treasury secretary janet yellen arrives in beijing for a key trade visit. jon heffernan, professor of semiconductor materials and devices at the university of sheffield and director of the national epitaxy facility, joins us now. do you want to correct me on that first? ., ., , ,., ., do you want to correct me on that first?_ great, - first? you are spot on! great, treat, first? you are spot on! great, great. that — first? you are spot on! great, great, that was _ first? you are spot on! great, great, that was a _ first? you are spot on! great, great, that was a lucky - first? you are spot on! great, | great, that was a lucky guess! first? you are spot on! great, - great, that was a lucky guess! we will come onto what that means in just a moment. firstly, let's deal with this issue of china putting export tariffs on full but what does it mean? it export tariffs on f