following the reports that chinese regulators might be cracking down on the big spending sprees, icbc they have said that this is all routine. it isa have said that this is all routine. it is a big deal. they basically said the checks and balances comedy checks of loans to companies that invested overseas is just routine. and a handful of the deal makers that have been on those overseas buying sprees, they were also targeted, they saw their shares fall after the matter, in fact one fell about 10% before their shares were suspended, but some of the shares are up—to—date. they are rebounding, particularly a couple. others continue to be sold. sharanjit leyl might think you forjoining us. in other news:, might think you forjoining us. in other news: , and might think you forjoining us. in other news:, and is very new £18 billion nuclear power station has come under fire from public auditors, who called it a risky and expensive project. the report describes the case for the hinkley point seaplanes as marginal. —— c plant. it says the deal with state—controlled french energy firm edf and c

them the icbc came out and said it was just a routine and we should see shares recover this friday. spending and shopping spree isn't yet over. thank you. we can see the effect it's having on the markets... asian shares flatlined but remained on track for a weekly gain. crude oil prices pulled away from this week's10—month lows. crude enjoyed a rare positive day on thursday after hefty selling that sent it to a 10—month low, but the gains were small change as concerns over a global supply glut and us production overshadow output cuts by opec and russia. the sharp losses — oil is down around 25% from its recent highs seen injanuary — has hit energy firms and, despite another pick—up in the commodity, they continue to struggle. the european markets starting friday with a modestly lower start across the board. in the us, investors are eyeing donald trump's revised healthcare bill hoping its success will open the way for his economic agenda. and we now have the details about what's ahead on wall street today. remember the blackberry? the company that bears the name of the once very popu

icbc bank is now in 60 countries. if you go back 30 or 40 years, it was in one.nies are going abroad, which i think is very smart. i think the chinese are quite smart in dealing with their situation. their banks are banking abroad. they want their banks to be winners. they want the next j.p. morgan chase, the next one. i don't want them to have it. i think we should have it. they could buy us one day. we have to be very careful when we talk about american business, what we want for american business and how important it is for the success of america, and not just us. but i put a lot of these companies in the same boat, ge and caterpillar. we have to compete, and we have to compete with some tough competitors globally. david: you have been running a bank, bank one and j.p. morgan, for about 16 years, so what is the greatest pleasure of running a bank? jamie: this is my contribution to making it a better world, is running a good j.p. morgan chase. i tell people that if i don't do a good job for j.p. morgan chase, i heard the opportunities for our people. we can't b

icbc says it's net interest margin shows widening. hong kong and shanghai building its market value in line with its largest peers. yvonne: takata received first-day requests from a court in delaware. shares plunged more than 30% when they finally opened at the end of the day in tokyo. the company briefed shareholders coming under attack for japan's biggest postwar manufacturing bankruptcy and recall ever. >> there wasn't enough of an expedition from takata's management until now. they were quite eloquent at the shareholder meeting. i am wondering why they couldn't explain the situation to shareholders like they did today. betty: reuters reporting that toshiba has given up on assigning a deal for its chip unit yesterday. f gave june 28 is a deadline or bain capital to sign off on buying the unit. western digital submitted a new offer tuesday, despite an earlier bid being rejected. western digital soft to derail sales via legal means. yvonne: we will talk more about toshiba later on when we hear about the proxy advisor that plastered -

it's icbc, the world's largest financial institution has also been suspected of illegal financial activities for the north koreans. so, there are a lot of signals here. >> so that's china. but i'm looking at you and you're skyping in from seoul, south korea, so michael, let's talk south korea. we know that president moon will be at the white house today. president moon and president trump have very different strategies in handling north korea. we heard, you know, that general mcmaster talking about options on the table, potentially military options, even though that's not necessarily what people want. but can you just talk me through the south korean politics with their neighbor to the north. >> greetings, brooke. well, yes, i think president moon wants to have some kind of a detente if possible. but he seems to be pretty savvy about how to pursue it so far. he worked in the president noh administration a decade ago in south korea and president noh really struggled to get along with the bush administration and president noh seemed to be sometimes doing things a bit cavalierly. i think moon i

oil reserves and assets at he los angeles energy firm founded, to win a $20 million subsidiary of icbc convinced the bank he had $1 billion in long-term assets. wire fraud.ed with >> the world's biggest plane has debut.public stratodefounder separatefounder launch. it is powered by six engines used by boeing 747's. the rockets will be large enough small satellites in low earth orbit. almost it froms us on daybreak asia. time for a quick look at what's bloomberg markets. interesting, looking at that plane. just reminds me of the spruce largest wingspan ever. anyway, moving to -- of course, it's about president trump here and that move out of the paris climate accord. here?re the implications how did it change -- actually, i geopolitical machinations that we have going on right now with seemingly the european union being driven china here? i'm going to be talking to christopher. he'll be along to talk about peaking university. what are the implications when comes to other forms of -- >> the diplomatic ramifications. >> absolutely. we've got that. what have we got as well? we've got actua

give us a sense of what it tells us. , it meanss me -- icbc there is an appetite to be in that space> i think it indicates the chinese themselves given with the domestic chinese market, they are looking at ways to grow the global market share and venture into the china europe and within the china space is deleveraging and the main focus and therefore, some of the lending activities in china. francine: if i am a global investor or a citizen, what i fear the most probably is a credit crisis or methadone in china. what does the prop -- crisis or breakdown in china. what is the probability? ruchir sharma: it keeps increasing because the amount keeps -- the debt keeps a mountain. no developed country or developing country has taken on as much debt as china has taken on in a short span of time. what our work shows which goes to the argument in the book that the single best predictor of financial crisis is a rapid accumulation of debt in a country. china has many defenses which it has been able to deploy, a lot of debt is internally owned and owned by government agencies so it can pass betw