guy: george osborne was taking selfies on this trip.id, talk to us about what is happening on the nuclear front. there is a strong desire coming out of london that china should lay a much greater role in the u.k. nuclear development story, both in terms of financing and designd. . david: it is a two-way road, isn't it. britain would like to see china investing in the u.k., in particular, in infrastructure. and in nuclear infrastructure. we have seen these guarantees for the hinckley nuclear power plant. this is something that china is also one of the investors in. there has been an interview in the financial times with the and energy secretary. designed thend nuclear plant in essex. this is a message we're getting from the u.k., that they are willing to back maybe a chinese rollout of its own nuclear designs. britain as a jumping point. guy: let's talk about ping, going to the united states. what will we care about on this trip? david: this is an interesting trip. we saw him before he was the president of china. this time, he will be go

cancel or, george osborne -- u.k. chancellor, george osborne is hoping to increase ties. the bloomberg news reporter david sweet is standing by. osborne's main message for china? >> best friend in the west. that has been coined by osborne and jim o'neill. they are talking about how they really want to integrate into china. what is key here is the delegation being taken to china. was,i thought was key where the people are coming from. he is taking leaders from the northern u.k. cities, all represented. and then they're going to shanghai and beijing. they are also going to cities in the interior, one that many probably haven't heard of. at least that is what osborne and o'neill think is going to be happening which is why they are so keen to integrate not just the city of london or industry but all of the united kingdom into the growth story that is china. look at the cultural institutions coming as well, the head of the british museum and the national theater are also part of the delegation. for five days they will be traveling in china. jon: thank you for joining us this mo

francine: george osborne there.d pmi data morning, showing that the economy is probably maintaining its .4% rate of expansion in the third quarter and will continue to grow. later, mario draghi will give testimony to the european parliament, the right now we have an exclusive interview. let's get to jonathan ferro in vienna with a member of the ecb governing capital. jon. jonathan: francine, good morning. i am pleased to say that i am joined by the governing council member, abel novatni. good morning. over the last few weeks, a series of ecb officials have come out and talked about downside risks. a source of that may well be china. they are painting a very ugly picture and i guess my first question would be, are things really that bad, and what are the sources of risks as you see them? >> well, i think it is not about that bad, but one has to have a realistic perspective. is that wet we see have increasing risks with regard to emerging markets. it is not just china. perhaps china is the number one. about other emer

francine: george osborne is visiting china and pushed cultural ties with britain.says he wants a golden decade in relation between the two countries. david, what is osborne's main message? itid coke desk david: it is -- david: it is a message of integration. it is a fast-growing part of the world. the u.k. wants to be part of it. they want to be the best partner in the west. that's where the u.k. wants to position itself. ist is really interesting the five-day trip he is undertaking. it is not just beijing, or shanghai, he is going wide into the interior. thousands of miles in china, going to various other cities. them aaking with different sort of delegation. there are business leaders, but there also leaders of the the unitedties of kingdom. along with cultural institutions as well, the head of the british museum is going. it really does show the push coming from osborne is to integrate into china and be able to get a piece of that growth. a bit of news out of beijing, we see the u.k. and china are going -- betweent a study shanghai and hong kong. that means inve

chancellor george osborne is hoping to calm away from a trip in china with the deals for new nuclear plants. he announced the u.k. will guarantee $3 billion in funding to build the first nuclear station and a decade sprint osborne is hoping this will attract investment from china. dov charney -- the financial times said that china companies may help. uber is played to set up an end and asian entity. -- planning to set up and indonesian entity. drivers were question said the app does not have the right permits. over them said they are open -- uber said they are obeying the law and asking customers to use twitter to tell the authorities why they need uber. access china is looking to raise almost 280 million dollars in the hong kong ipo. will it be up to make a big splash? bloomberg news asia deals editor joins us now for more analysis. ben, how will investors respond? the ipo market has been weak? be a bit of a tough sell. most of the ipl's that hit in the market that ipo market has fallen from prices more than 20%. it will be a bit of a tough they'll. yvonne: what is their position? b

david cameron whose the prime minister, and george osborne, who is the treasurer.o here are the cable back from the american embassy in london back to d.c. william hague, the foreign minister, has come into the embassy and here's the report. haig said david cameron and george osborne were children and staunch atlanticist. william hague said whoever enters 10 downing street, that's the british equivalent to the white house, as prime minister then learned of the essential nature of the relationship with america. he added, we want a pro-american regime. we need it. the world needs it. so the current government that i am dealing with, which is deployed 100 full-time equivalent surveillance passport around the embassy are the most disgusting from the most boulder, the most embarrassing u.s. sucks imaginable. there's a secondary question as to whether hague was being genuine or not, or whether he was trying to many collect the u.s. ambassador. but either way it's quite bad. these -- if it's genuine or it's a machiavellian type of panhandling that the principal leader of

hague said he, david cameron and george osborn were people of that -- whoever enters 10 downing street, the british equivalent of the white house as prime minister soon learns that the essential nature of the relationship with america, we won the pro american regime, the world needs it so the current government's, deployed 100 full-time surveillant passports around this embassy are the most disgusting, the most vulgar, the most embarrassing u.s. stocks imaginable. there is a secondary question as to weather hague was being genuine or not or trying to manipulate the u.s. ambassador. either way it is genuine or machiavellian kind of panhandling the principal leaders of the british government have done. the other cable which i think is the richest of any one single cable concerns so much in it, so rich, it concerns censorship, turkey, violation of the separation of powers and false status of scandinavian states as liberal democracies and how the head of nato got his job all in one cable and barack obama. so the kurds exist as an ethnic group, 30 million people in regions of turkey, iraq,

in an interview, steve asked uk chancellor george osborne whether renegotiation talks on the country has been tougherer than expected. >> no, we're having very good preliminary discussions. in portugal and spain and i was in scandinavian countries and finland just the other day as well. across the board, europe is not working as well as we'd like it to work for all the member states. you know, there aren't enough jobs. we haven't seen enough prosperity. there's widespread recognition that we need to do more to create a lasting stable relationship to those in the eurozone and those outside of the eurozone. of course, there are many countries in variations that we face in britain in the free movement of people. so i see a further willingness to make this engage. >> still to continue to rebound after the u.s. dollar after hitting four month lows on friday. this ahead of that coming on thursday, euro dollar, 1.1157. you can see the recent highs towards the end of the month just crossing about 1.1157 or 58. we've had a reasonable bit of weakness. >> this is actually an improvement on a lo

. >> there is a lot of talk about chancellor george osborne's visit to china.w high of a priority that is for china. although they're making a big thing out of this, clearly the president is going the opposite direction as osborne arrives there. is that a big deal from china? the visit or not really? >> the key thing we see is doing a lot of ground work for the upcoming state visit to the u. s. it's not usual for the chinese president to have such too high level state visit coming back to back to one another. i think both sides between london and beijing people have worked very hard for positive energy for the context under which that can be made. i think that in the more context of a u.k. china relation we expect that to remain stable and positive because uk. wants to be the best partner that china has in the west and u. k. certainly has been more accommodating to facilitate chinese investment in the country and will remain to do so. >> thank you so much. appreciate it. head of asia. >> as we go to break, let's remind you of the headlines. the emission scandal

george osborne says he wants to help beijing internationalize the currency. let's check in on markets on agents. >> we're joined from singapore. sri. >> hi, susan. emerging assets haven't lost very long. we're back through the global growth concerns, read china, slower growth. with the exception of main land china, we're down by 3% if you look at all of the equities as a guide. a real cyclical end to the market. they're getting clobbered today for bringing down the benchmark 5,000. could crack that if it continues tomorrow. now one of the reasons why shanghai composite was up was only one of the own outperformers. they have a small cap and also on very thin volumes. as a caveat there. i think china will be the theme and the main narrative for equities in this part of the world. we get pmi numbers, manufacturing numbers on wednesday. that will be a big test of send imt in the chinese markets and broadly globally as well. that's where we stand. back to you. >> sri, thank you so much. >>> for that, still to come on "worldwide exchange", it's being called the big

want that but that's not really what is on offer and i am disappointed by what david cameron and george osborneed for and i'm not sure that people will be satisfied with what he comes back with when this happens in two or three months time. >> you're the largest donor to the labor party after the european unions. will that continue under corbin's leadership? >> yes. very much. i'm very happy with that. >> great stuff. thank you for joining us. john mills there. chairman of jml. for now i'm going to enjoy the sun for a little bit and send it back to the studio. >> we're getting jealous here. thank you wilf. let's check in on how glencore stocks are doing. the stock is seeing quite a rebound from yesterday. lost 30% in yesterday's trading session. recooping some of the losses today. glencore up by almost 11%. 75.76. a couple of brokers coming out and confirming their buy rate on the stock. some of them saying the sell off is completely overdone. >> let's talk about yahoo! moving with plans to spin off alibaba stake. earlier this month the irs declined to rule on whether this trarns action would b

chancellor george osborne is in china and will be speaking at the shanghai stock exchange at 7:00 a.m he is leading a trade delegation in the country. yesterday the announced a series of deals, including financing for chinese construction of a new u.k. nuclear plant, possibly linking the u.k. and shanghai stock markets. make no doubt about it, i want the ut k -- i want the u.k. to be the western hub for r&b trading. package can announce a of agreements that will firmly established london as china's bridge into western financial markets. dateshere are some of the , tomorrow we get preliminary pmi readings for the euro area. on thursday we hear from the chinese prime interest or, he will have his goals for the rest of his term. janet yellen also speaks on thursday in amherst where she may elaborate on a central bank. on friday we get second quarter gdp from the united states. guy: mario draghi will be speaking out as well. let's turn back to the story of vw. they could be facing a criminal investigation by the u.s. department of justice and further probes at home and abroad. admitting -

chancellor of the exchequer george osborne announced a series of deals with china at the shanghai stockxchange. osborne: today we can announce a package of agreements that will firmly established london as china's bridge into western markets. matt: he said the u.k. was vulnerable to the turmoil caused by the chinese stock market collapse, but says that the u.k. should not run away from china. mark: lloyd blankfein, goldman sachs ceo, says he has lymphoma, a type of cancer. he writes that his form is highly curable. he says he will keep working, though he will cut back on travel. he has been the ceo of goldman sachs's 2006. shares are down on the news today. matt: a decision that could have a huge impact for the energy industry. the obama industry says that the sage grouse does not need to have its endangered identity lifted. buffer zones will be established where the grouse rather for breeding. assigned at the u.s. housing market still has momentum, home prices rose more than expected in july. buyers have been finding fewer homes to pick from. gains were highest in the mountain region.

guy: george osborne, the u.k. chancellor thinks china is the opposite of the u.k.'s economic woes.s a view shared in the labour party conference. anna edwards is down there. jeremy corbyn giving his address later today. he has been fairly diplomatic some would say over the last day or so. anna speaking to some of the party faithful. anna: specifically last night we were talking about europe. the policy network and the city of london corporation hosted a debate about the u.k.'s future in europe. lord peter mandelson was on that panel and he started by linking the conversation to the very holding together of the united kingdom. as important in terms of the magnitude of the conversation about europe. andescribes himself as instinctive european performer. i wanted to get an idea from him about how united the party is on this message around europe. is the leader on board? he seems to have made some positive comments about europe as of late. peter mandelson talks about what he sees as a return to the left leaning policies of the 1970's. then he gave these more positive remarks. >> i supp

chancellor,r the george osborne. we are also on fed watch today. is scheduled to speak this evening. janet yellen and president james bullard will address a conference. that is at 8:00 p.m. u.k. time. let's talk to our guest host, the chief european economist david allen's. let's come back. we had this data out later on, which is likely to once again provide us with a very negative stories surrounding inflation in the eurozone. jean-claude trichet used to talk about the compass being inflation, and the inflation at the moment is very flat. is there anything that drug you will have to take sorts from? david: jean-claude trichet so --ways around target, now the focus is much more to core inflation. it is stripping out energy through to back out and that has been running in the eurozone quite close to 1%. if you strip away taxes, in germany is flatlining, at picking up another countries. the u.k. had fallen from over 2% to 1%. of the bank of england will be looking at measures like that, stripping away all the volatile things which are currently pushi

george osborne has said that the united kingdom was vulnerable to the turmoil caused by their stock market should not run away from china. rose more than expected in july, according to the federal government. gains were highest in the mountain region, with cities such as phoenix, las vegas, and denver. new england was the slowest rosing housing market, falling unemployment and hiked inventory has increased the prices of houses. mark: lloyd blankfein says he he says it is highly curable. he is 61 and has been goldman ceo since 2006. brian moynihan comes out on top in a power struggle at bank of america. will remain the chairman and ceo. some shareholders of the board overstepped its powers when they meet him chairman last year. that is able to the top stories we're following at this hour. president hasna's touched down in seattle, washington. he will meet with tech and business leaders. chinese cyber espionage and chinese trade barriers are two topic slightly too, -- likely to come out. pimm: darden restaurants have increased lunch items and takeout items we will give you details on their e

george osborne is doing a brilliant job as chancellor. -- i am one of the 50% sure, they will be ready for the election. george will probably be the prime minister candidate. he said before the election he would not seek a third term, and it will probably be osborne. >> may hand wringing at the guardian and the spectator, what has he done to tony blair? tony blair do with that party? what did he fail to see coming to set the groundwork for this? that heell: it is not or peter manson failed to see it . they are threatened by the trade bill that has been passed. they are concerned about the restriction of striking rights. they have to give two weeks notice before a strike. there is control of social media activity. maybe rightfully concerned about their position. corbyn is a union candidate. him to berniee sanders here. i actually think it is very different. he is nowhere near as left-wing as corbyn. foot was a more intellectual figure then corbin. tom: in the middle of the strand is the air force church. has he ever been in that church? tories have toe be careful. they can't be too triu