process to the extent that we have been concerned about china's failure to engage in negotiations consuctive. iss a get that change. where should we start when we are thinking about new roles for state owned enterprises? if we go and look around at a lot of initiatives on the free trade agreement that has been proposed in recent years for the united states the transpacific partnership agreement has estate owned enterprise chapter. i will put that up in a moment. they were all proposals for state owned enterprises. the oecd program on state owned enterprises has been tasked already with developing this overcapacity thtodeal with steel. at the g7 readout that came out over the weekend there was acknowlent of this issue also applied to aluminum and other high-tech sector so there is seemingly an engagement to get on and address this issue. finally the european commission has been dealing with these roles with concerns raised by six differing levels enterprises for decades. there's lots of institutional materials and experience that we can draw on. if you do not remember the agreement it is ther

after winning the champions league with real madrid for a third consuctive time, this man, cristian ronaldobuild up largely disrupted by the sacking of their manager on wednesday. he is very tall. very tell indeed. so this is how friday in russia is shaping up. mo salah's egypt take on luis suarez‘s uruguay at 1. that's on bbc 1. you can listen to morocco iran on 5 live and then catch portugal against spain back on bbc1 at 7pm. naga, you're comin' to mine to watch it? that's right, you can listen to morocco iran on 5 live and then catch portugal against spain back on bbc1 at 7pm. that one appeals to me! golf will appeal to her! it was a day of wildly mixed fortunes on the opening day of golf‘s us open in new york. northern irelands rory mcilroy really suffered in the early testing windy conditions. he eventually finished on ten over par for his opening round and struggling to make the cut. englands ian poulter is the pick of the british contenders, tied for the lead on one under. british number one johanna konta says she feels fortunate to have beaten compatriot heather watson in straight s

>> from our perspective, we are not as consuctive on the dollar as other market participants reflectingore of the fed rate hiking cycle is priced in. you see headlines cpi in the states relatively elevated. the core cpi measure is just given the fact we will get a twin deficit scenario in the states over the energy or two, i think we will see the dollar continued to depreciate over the coming months and years. tom: what euro level does europe nt? europeecb and broader are not concerned about the euro. once wrote an inflation does with the ecb thinks it will do. if we see inflation coming toward trend, 1.5%, if we see core cpi in the eurozone grind higher to 1.2%, 1.2% and gdp growth around 2%, the ecb will not be concerned. only if we see inflation decrease in the eurozone as a result of the higher euro. if inflation and growth does what the ecb thinks, they will not be bothered by the euro. francine: talking about italy and spapolitical turmoil and betray concerns. how much of an impact -- the tray concerns, how much does it have for these countries and europe a large, integration, if