vonnie: that was bhp ceo andrew mackenzie earlier on bloomberg. question, why are oil companies snubbing u.s. shale? why, what is wrong with u.s. shale assets if they are cheap enough? >> that is the key question. there has been enthusiasm in certain shale places, and you have seen that in the permian, the most expensive to help if you are and oil developer now, but when you look at what bhp's offering, some of it is gassy, so not as available as what is in the permian. vonnie: what kind of costs are we talking about? what would be fair? >> if you are looking at the permian, you want to hit the sweet spot, where it is mostly oil, upwards of $50,000. i do not know if you will see that in this case. what we have seen from analyst is a lot of discussion about how they are in the checkerboard arrangement, and there might be sort of shale buy some, sell some, the complicated transaction to move it around at the end of the day. bhp's: will they solve problems or the view them? >> there was enacted shareholder and -- there was an active shareholder in el

tom mackenzie joining us with the details on that.d out there is no easy win on the issue of trade with china. [no audio] ok, we cannot get the sound up for tom mackenzie. we will get back to him. oh, we have him now. tom? tom: i was saying you will remember trump leading up to the inauguration voiced potential, potentially he was going to slap tariffs of up to 45%. that has not happened. they have been looking for ways, pressure points to put on china over trade. over the weekend, we heard trump will on monday, the u.s. trade representative will consider investigating china over the intellectual property violations as the u.s. sees them. if they take it on, it will carry on for a year, and it could result in tariffs. the other issue was when we heard at the end of the week the aluminum foil products china ships to the u.s. and the fact the administration is looking at slapping tariffs on those. what experts have been telling bloomberg is it is a complex procedure. it is difficult for the administration to hit out or u.s.e tariffs, im

i am tom mackenzie. tom, thanks for that. arguably a pretty big week, rish. datave these slew of china any time loans now from now until tuesday, but at the moment we will see asia and equities returning to close to decade highs. and we will have the jobs numbers on the upside for friday. yes, and of course the dow, nine days, nine record highs, right? incredible. let's look at what is going on and driving the markets in this part of the world. well, take it away. haidi: asia and stocks are gains.g on the morning's equity investors carrying on with what we saw from wall street. we have earnings driving momentum in japan. they are 6/10 of a percent higher. looks little changed. most companies in japan that results i have delivered a beat. in chinese stocks are joining the party. they are up an eighth of a 10th of a percent. shares in changing being led by i.t. and health care stocks. the drop that we are seeing in chinese mining stock seems to be andrsing with a surge material stocks throughout the region

any and for so a class war now firmly on britain's political agenda we're joined now by dr lisa mackenzie research fellow at the mountains.

about the company strategy from their chief executive andrew mackenzie. ♪ ♪ live from bloomberg worlduarters in new york, i am vix. inn.onnie qu mark: bhp says it is in talks with potential buyers with u.s. shale asset, the change of strategy appears to be a concession to activist investors. we talked with the ceo, andrew mackenzie. >> our preferred strategy is a small number of trade sales. we are keeping other options so that we can proceed with a reasonable amount of pace. for now, we think it trades it would work best. >> how quickly to complete an exit? >> it is too hard to say that. we have to be patient. we know what our businesses are worth and we will continue to add to the value through technology and modest investment. , we do notr hand want to let urgency, which is why we have other options in the wings. if trade sales are too complicated and difficult to execute in a reasonable time. because onteresting monday we heard from the french thegy giant total, one of day said is that u.s. shale was not at the top of their wish list because it is too expensive. do you agree about

this fire we are school sort of getting by states possible culture and austerity britain dr lisa mackenzie if state backed neglect corruption and cuts to services that just social cleansing at the ground fell tower in west london this week and we asked the tory co-chair of britain's all party safety and rescue group so david amos how much to raise a mate was to blame for the london fire and. what could the cia have conceivably got to do with the death of the best selling soundtrack artist of all time the inimitable whitney houston we will cointelpro with award winning filmmaker nick broomfield and shin framed on whether to raise them a good deal with. means the end of the northern ireland peace process. coming up in today's going underground but first no one really knows how many people have been killed by government austerity to bail out the bankrupt city of london since twenty zero eight the journal of the royal society of medicine says thirty thousand deaths alone could be linked to health service cuts but if anyone wanted member for the slashing of emergency services social housing and

rishaad: tom mackenzie in shanghai., holding steady to the economic factors weighing on the bank of australia. we discussed the cash rate with the commonwealth bank of australia. this is bloomberg. ♪ haidi: this is "bloomberg markets: asia," i'm haidi lun in sydney. rishaad: i'm rishaad salamat in hong kong. let's look at the business headlines. first-quarter operating profits more than doubled to what it was previously.looking for a figure year of about $1.2 billion.shares have been surging in the company since smashedan: homecoming," projections. they also have cameras, streaming, and playstation games. they spent $143 billion on a 95% stake in distributor automation -- funimation. suppliers are trading lower amid concern about potential holdups when it comes to the new iphone. theyy chain data suggests will announce when it comes to oled screens. it could put the initial shipments back to october. rishaad: china's third biggest search engine expecting to launch a u.s. share offering -- worth $5 billion, trying to clo

tom mackenzie joining us live. arabtech, one of the larger companies in dubai. worth has won a contract 628 million dollars, which is a sizable contract. we did see that series of contracts coming through. last month one came through around $289 million. the stock is down this year. it has been up 21% in the last month. let's get you a bit of a preview of what is to come on the show. we will talk about what is happening with the rba. they are expected to leave rates unchanged today. we will break down the announcement in all of its minutia in 15 minutes. david: the greenback, rather, got the white house blues. flexibility is painting a bleak picture for the dollar. we discuss what that means for the asian economy, next. this is bloomberg. ♪ >> business spirit is the highest and has ever been according to polls. it is the highest it has ever been in the history of these polls. we are doing very well. we have a tremendous group of support. the country is optimistic. i think the general would just add to it. up whenup, business is you look at the markets. chinese p

tracy: that was andrew mackenzie speaking with bloomberg. steve brice rejoins is now.hp billiton clearly looking to sell its shale assets when the price is good that we also so total ceo on monday -- we also monday.l ceo on those excessive valuations what do they say about the trajectory of the oil price? steve: if you look at the possibility of shale, it certainly improves. that is why oil prices fell dramatically over the past two or three years. also we have seen more stabilization in recent times. costs are starting to increase in the shale sector after productivity gains have cut those costs. now we see a flaw in the oil price. probably not going to dramatically higher -- too dramatically higher. our view has been for a few months now that we see oil prices stabilize and gradually grind hard. i don't see anything in this announcement to change that. rishaad: you say flaw. at $65if you're looking a barrel, that is going to be really tough to hit this year. shalell do have that capacity globally, not just in the states. obviously the focus is on the states. if we di

alix: bhp billiton ceo andrew mackenzie and tina. who is going to be the buyer?r are two companies. that is because if you look at the permian where they have the smallest part but probably most attractive, you're talking about shell ownsard where some and will see analysts is the possibility of a trade cells.ng and anadarko alix: which is not unusual because of the longest it goes, though more oil you can produce a you want aligned stacked up against each other, right? when you jewel, you have a better knowledge of what is in the acreage. -- when you drill, you have a better knowledge of what is in the egg rich and you want to add age,- what is in the acrea and you want to add on. you can see acquisition vehicles and when seen james gets back in the game and will sing mark poppa do some acquisitions. that has been i think the permian. a couple of people could come into play. outlooks bank interested in what will the price of the. as we get aa pop for less, do we read into anything about the flow of money and what they are willing to pay in the permian? -- alix:

haidi: thank you so much for that, tom mackenzie in beijing. they have approved a 2 million schaller -- $2 million share buyback. -- we have a reporter. is this buyback, isn't going to help? -- is it going to help? rosalind: i think it could shore up that infrastructure, but it is closing 9.6 -- 9.5 cents lower. the first share buyback for this company, but they agreed to buy back as many as 1300 million shares. this was a 25% premium to friday's close and more info analysts had been expecting. move, there were cointreau speakers. speakers. they have a cache file of more than $6 billion at the end of june, and investors are asking to get a hold of some of that cash. betty: he said he cannot take it anymore. he is leaving. there was the all-out war between the board and the founder. rosalind: he under his tenure which started in 2014, the rose 21%.shares revenue gained 25%. he wanted to transform and update the company to transition to internet and database computing. looking at 6905, you can see infosys has outperformed many others. lack the ov

let's bring in the ceo andrew mackenzie to talk to us. great to have you with us.ave indicated a range of options to get out of u.s. shale. what is your preferred strategy to make a clean exit? now, our prepared strategy is a small number of trade sales, but we are keeping other options they are so that we can proceed with a reasonable amount of pace. for now, we think a trade sale would work best. haidi: how quickly are you hoping to complete an exit? >> i think it is too hard to say. we have to be patient. we know what our businesses are worth. we will continue to add to their value through technology and modest investment. we don't wantand, to lack urgency. that's why we have other options in the wings if trade sales look too complicated and difficult to execute in a reasonable time. haidi: it's interesting, because monday we heard from the french energy giant who agreed to buy oil and gas assets. one of the things they set is the u.s. shale wasn't at the top of their wish list, because it is too expensive. with that in mind, do you agree about it being expensiv

have: we are going to andrew mackenzie from bhp on.ing there in front of him, what is the number one question on your mind for him? more a bighink it is picture perspective around where they see some stability and commodity prices. clearly, that is the key driver for php. china was slightly subdued, little the same for the u.s.. it is interesting to see what youview is.re -- view is. do so much. one feature on the bloomberg would like to bring to your attention is our interactive tv function. you can find at tv . you can watch is like the also see previous interviews and died into any of the securities are bloomberg functions we talk about. you can become part of the conversation by sending us as it messages during our shows. this is where bloomberg subscribers only. this is bloomberg. ♪ i am yvonne man in hong kong. betty: fiat chrysler says it has had no approach from potential deep buyers. shares a record in the lawn and new york. it may sell units for more. here is our asian autos reporter. why would great wall be interested in

andrew mackenzie discussed the plans to exit u.s.hale on bloomberg markets asia. >> for now, our strategy is a small number trade sales, but we are keeping the other options there so we can proceed with a now,n apple pay's, but for we think a trade sale is best. >> how quickly can you make an exit? >> we have to be patient. we know what our businesses are worth and we will add to our businesses through our value and modest tech -- modest investment. on the other hand, we don't want to lack urgency and that's why we have other options in the wings if trade sales are too difficult to execute. >> it's interesting because we heard from a french energy giant assets andto buy the one thing they said his u.s. shale is not at the top of their wish list because it is too expensive. foremostree first and about it being too expensive and does this concern you about finding available and interested buyers? >> we have sold some parts of our position over the last two years. this is not something that has happened in a sudden way. half of the rema

tom mackenzie in beijing -- tom mackenzie in beijing.ze of chat with the ceo of square jack dorsey later in our program. yvonne: up next, catesla shares have surged. we dig deeper into the economic effects of electric car demand. this is bloomberg. ♪ yvonne: this is daybreak asia. i'm in hong kong. soaringesalsa shares after hours bringing the model three to market. negative free cash flow was more than $1 billion on the second quarter, twice of the first three months of the year. that is less than what analysts had been expecting. tesla spent heavily to roll out the model 3, which is almost half a million orders. yvonne: let's talk more about this and discuss e.v. and what they mean with the energy markets. as head of asia-pacific research and we want to bring in our gaslight columnist from sydney. let's go to first, because all we have been talking about is the model 3. but there is a lot going on in the electrical vehicle market. what is driving the growth at the moment? first i would say that model three has created a significant buz

everything mackenzie said earlier.s is the ceo that is bidding up the story in terms of the electric car market. how disruptive it could be and what it could do to the demand side of the equation. you have providence. matt: yeah, if you forecast a is one thing but if you cancel your dividend it is another. if your ceo steps down because of a failed strategy that is another. put all three together and s want to run hard from that stock. it has in a painful year for provident financial. leavingpeter cook is and forecasting a wider loss and scrapping the company's dividend. we will see what happens with that company in live cash trading. the open is next. this is bloomberg. ♪ matt: jobs are set for a higher opening this morning. london, paris, frankfurt come all indicated higher. will be one ofn the protagonists for the rally. economists are now predicting a 6% rally in the euro stoxx 50. that will be before monday's close. you are looking at a potential higher opening. we have come off by more than 6% since than peak in

the gall bladder they took a biopsy of the two but that was blocking my lower bowel and the little mackenzie. as you know beau biden vice president biden son served in the military and he served in iraq and she was in perfect health shortly or three count home within nine months he started getting sick he had a brain tumor. and she eventually died from the brain tumor the same type of brain tumor that many of these soldiers that are sick from the four inputs are complaining about same type of cancer there's a lot of circumstantial evidence that points to you know his death may have been caused from the burn pits. but. it just didn't make sense it didn't make sense that my young healthy husband had cancer and then it turned out there were two types of cancer how was it not the burn pits it's not a type of cancer for a young twenty seven year old guy to have because first he didn't smoke he never smoked he's not a drinker and usually that's the type of cancer that older gentleman who smoked for a long period of their lives should tobacco or drink the doctor he said it was chemical exposure. or

tom mackenzie joins us from beijing. good to see you.is bodes well in terms of china, or does it? what does it tell us about the current trajectory of growth? a lot can change after a big congress. tom: that is an important emphasis. the economists seem to be around the consensus that this data in terms of the pmi number does flesh out a stronger second-half growth. we have seen other weakness. whether that is industrial profits, the satellite index showing confidence. metal prices picking up. there are a few factors feeding into this resilient strength, things like the european households, store demand there for chinese products. firstonger demand their chinese products. these companies can pay down their debts. things like real estate picture has slowed a little bit less than people expected. a lot of credit pumping into the system to build the infrastructure. one area a little -- one area of little weakness, the pmi number below the july figure it we spoke to one economist at figure. -- we spoke to one economist at jpmorgan. overall,

the show with this book we are getting by states possible culture and austerity britain dr lisa mackenzie if state backed neglect corruption. social cleansing at the ground felt in west london this week and we asked the co-chair of britain's all party safety and rescue group.

gm reggie mackenzie said all along the raiders were confidentiality conley would be cleared. >> it is on a young man like that to go through this, and i'm excited that -- for gary and the raiders, you know, for the process to work. >> little league world series. the intermediate world series, aces taking on texas. mathieu ab bass pinch-hitting. drives home a pair of 4-0 aces. with a base hit to knock in abbas. aces win 6-1. next game wednesday at 6:00 p.m. "abc 7 sports" brought to you by river rock casino. you don't mess with danville, dan. >> true. >> dan. >> dan, danville. >> was it named after -- >> i wouldn't mess with it, wouldn't dream of it. >> maybe they named it after you. >> thanks very much, larry. i like to think of it. >> "abc 7 news" continues online, on twitter, facebook and all of your mobile devices with our "abc 7 news" app. >> next newscast at

gm reggie mackenzie said all along the raiders were confidentiality conley would be cleared. >> it is young man like that to go through this, and i'm excited that -- for gary and the raiders, you know, for the process to work. >> little league world series. the intermediate world series, aces taking on texas. mathieu ab bass pinch-hitting. drives home a pair of 4-0 aces. with a base hit to knock in

. >> reporter: photographer mackenzie white is considering the higher quality camera, but also the price. >> phones are definitely an investment. when you're paying $700 to $1,000 for a phone, you want it to last. >> reporter: the new 8 costs about $930, a sign of the times. >> the smartphone has taken over such a central focal point of our computing life. that's why the price continues to go up and they continue to put more of their innovation and technology into these mobile devices versus the traditional pcs and laptops. >> reporter: with competitors about to roll out their new phones, samsung hoping this one will catch fire for the right reasons. jo ling kent, nbc news, new york. >>> there's more to tell you about tonight. when we come back, pardon the interruption. the hilarious moment that all played out on live tv. >>> tonight, powerball fever is in the air as the jackpot has soared to $700 million. the staggering purse has been climbing for days, now at a near record number as the drawing approaches. the cash would change anyone's life, but the chances of winning are just as mind

the company has given no further details and there's been no comment from mr mackenzie.e of gas on hold. the aerospace company rolls—royce has had a good six months. it's reported half year profits of £1.9 billion. that compares to a loss of £2 billion the same period last year. it says its seen a big rise in sales. back now to that story about british gas. its parent company, centrica, says profits from its uk energy business that supplies our homes fell by more than a quarter to £381 million. it also announced that three million people will face higher electricity bills from september. the standard tariff is going up by 12.5%. the company boss, ian conn told us why. we have held our electricity prices flat since the beginning of 2014. we have seen reductions in gas prices in the period since the end of 2013 as well as a small electricity fall at the end of 2013. this is the first time that we've put our electricity prices up therefore in that period and we're leaving gas prices flat. the reason for this is the transmission and distribution costs have been going up as w

let's get to tom mackenzie in beijing to break down the china data.en the block numbers in yuan terms, you have had time to digest these numbers. what does this tell us about china's growth outlook going into the back end of the year? >> well, it's not good, but equally, these are volatile numbers, and this is of course only one month. to get a read on august and september before we can reassess. the general consensus view is that the second half of the year, china's growth will be relatively robust, slowing moderately. i will give you the dollar numbers for the exports, 7.2% up for july, misting estimates of 11%. wellts came in up 11%, below the estimate of 18%. the trade surplus around $27 billion usd, which has narrowed somewhat we know that the global demand picture is going to be strong, whether that's from european households or u.s. households, so that should shore up exports in the months ahead. bloomberg intelligence was saying the scope for china's exports are shrinking, numerous saying there could be currency effects, because the yuan has s

laura linkson ending that exclusive report byjean mackenzie.nt. scientists are using it to study dementia by measuring navigation skills, one of the earliest things to decline in people with the disease. james gallagher has the story and has been to play the game. prepare to enter a virtual world. you are now captain of a boat. your challenge is to use your sense of direction to chart a course through complex waterways and icy oceans and even feed hotdog—loving sea monsters. but this is not only a game. it's collecting anonymous data while you play as part of the biggest dementia experiment in the world. this doesn't feel like medical research — it's fun. but one of the first things to go with dementia is our ability to navigate, and that's what you can test in virtual reality. the first version of this game was a smartphone app that had three million players and gave unprecedented insight into how our sense of direction declines with age. but making the leap into virtual reality will allow scientists to study dementia in greater detail. the va

gm reggie mackenzie said all along the raiders were confidentiality conley would be cleared. >> it isn like that to go through this, and i'm excited that -- for gary and the raiders, you know, for the process to work. >> little league world series. the intermediate world series, aces taking on texas. mathieu ab bass pinch-hitting. drives home a pair of 4-0 aces. with a base hit to knock in abbas. aces win 6-1. next game wednesday at 6:00 p.m. "abc 7 sports" brought to you by river rock casino. you don't mess with danville, dan. >> true. >> dan. >> dan, danville. >> was it named after -- >> i wouldn't mess with it, wouldn't dream of it. >> maybe they named it after you. >> thanks very much, larry. i like to think of it. >> "abc 7 news" continues online, on twitter, facebook and all of your mobile devices with our "abc 7 news" app. >> next newscast at food. water. internet. we need it to live. but what we don't need are surprises, like extra monthly fees. i see you, fee, played by legendary actress anjelica huston. you got me, mark. internet for one everyday simple price and no extra mo

tom mackenzie filed this report from beijing. exports undershooting forecast for an 11% increase.ts also missed by a wide margin. china's trade surplus for the month ticked up to $47 billion u.s. economists warned against reading too much into one month's run of numbers. bloomberg intelligence says a longer period of wheat exports -- of weak exports -- u.s. trade sanctions also pose a risk all -- as does any sharp downturn in the equity markets. vonnie: staying on china, beijing's suspicious -- suspicions to back the u.n. sanctions against north korea have cooled trade relations with the u.s.. kevin cirilli joins us from d.c.. what does that mean in reality? the commerce secretary has been threatening imposing new sanctions against china on a host of different industries. they have backed off of those claims. when you read in between the lines, we see china step up to the plate on north korea. we have also seen china dramatically shift the relationship with north korea i not taking as much -- by not taking as much. as a result, there have been pickups between the president as well

this fire we are schools are of getting by as states possible culture and austerity britain dr lisa mackenzie if state backed neglect corruption cuts to services that just social cleansing that the growing felt tower in west london this week and we asked the tory co-chair of britain's will find a safety and rescue group so david amos how much to raise a mate was to blame for the london for the.

as andrew mackenzie said, he is committed to more conventional offshore assets even as the exit fromplan to offset -- -- for the potential buyers? fi ho are the potential buyers? 50 thousand that acres, some of it in very promising areas, the basin is the hot ticket in the shell space -- shell space. that is the thing that people really want to get their hands on. analysts and investors really expect themselves to the estimates, i think that macquarrie has talked about potentially the shell expects -- assets raising. we have heard from investors in the past 24 hours a want to see more. they can see more than 10 billion in some of these assets. they will be sold off in four key basins and he's one of those areas has a different honor, we are already hearing suggestions of the likes of anadarko. they could all be interested because they have operations that are contiguous to bhp's assets. this can be successful for bhp. >> the timing of this, what about the timing of these sales? how much will they bring in for bhp? david: as we said, potentially, it could be more than 10 billion. bhp

tom mackenzie live from beijing. sydney as the company's annual results released this morning. paul allen joins us from perth, a decent set of earnings, profit doubling, writing this rebound .n the price of iron ore double, and that was a miss, analysts were expecting 2.36 billion dollars, but a strong set of numbers. the dividend was expected to rise, $.45, a beat. signal that this might be the time to look at returning money to shareholders, so they have certainly done that. the ceo is $260 million richer. is fortescue --iron ore is fortescue's only product, and the prices been volatile this year. >> that's right. the ceo has described the price as "uncharacteristically high." ands subject to speculation he has suggested that pursue users and consumers have a look at contracts to bring certainty back, but a couple of charts, this is #6104 that shows iron ore exports increasing. milliono expecting 100 extra tons to hit the market this year. consider the in line with this chart, #6103, stockpiles in china continue to

the victoria derbyshire programme's jean mackenzie has this exclusive report. over and over, and there was this hot, burning pain that never ended. laura remembers being fitted with essure, an implant used by the nhs to sterilise women. i went from being a mum that was doing everything with her children, to a mum that spent most of her days in bed, unable to move without pain, to basically being a shell of myself and at one point suicidal. the small coils which are made from nickel and polyester are inserted into the fallopian tubes. they are designed to trigger inflammation which causes scar tissue to build up, eventually blocking the tubes. if you look what it is made of, you start to get worried immediately. 10% of women are sensitive to nickel, there is an immediate problem, but it is also made of a compound which is present in this, pet. when you heat this bottle up, it will release compounds that are potentially dangerous into the water. that heating happens in the human body. while essure works well for many women, thousands have reported side—effects an

'stty: again, that was midea vice president speaking to tom mackenzie.iness of online education. we are going to speak to the ceo of a chinese company that is now valued at $1.5 billion. has some big chinese billionaires and a silicon valley venture firms invested in it. this is bloomberg. ♪ yvonne: this is "daybreak: asia ." i'm yvonne man in hong kong. betty: i'm betty liu in new york. let's focus on the booming mixture of education and tax. online education company matching chinese kids with teachers in north america, valued at more than $1.5 billion after a funding round from investors including tencent. joining us from beijing is the ceo. thank you so much for joining us. you have just completed raising $200 million from sequoia, tencent, and others. quite a big expansion for a company that has only been around for a few years. . what is going on with the market? how did you first see this demand? is huge inet demand china, given our population. the market size itself is a $15 billion u.s. market, so we have all this policy, many more kids are start

tom mackenzie has the story in beijing. take us through the numbers.stern posting an increase, up 34% for the first half. china southern, a different picture, profits falling 11%. china eastern saying what they want to do now is focus on pushing up passenger yields. they say they would do that by adding more corporate clients and more direct ticket sales. and addedf capacity flights, they will be focused domestically on the top tier cities here. to beger yields tend higher. china southern sticking to its plan to expand internationally, focused on north america, is where ith expects international traffic to pick up 15%. we do have a chart showing chart -- 7941 is that i should say 730 eight, the revenues for the big three state-owned airlines. we are expecting china air results later this afternoon as well. rishaad: why are we seeing a pullback in overseas expansion by these airlines? all about capacity versus yield. in the last few years generally and broadly the airlines have been focused on expanding capacity very aggressively, but passenger yields h

tom mackenzie caught up with the south african trade minister.are you hoping to gain from the next few days of talks here in china with your partners? guest: there's been quite a lot of interaction with officials for economic and trade issues. they've been developing the areas of cooperation that we would be agreeing on as ministers of trade. it was previously the ministers of industry that i attended. all of this will lead into the summit, which will take place next month. i think there is a businesslike approach. a number of very important issues that are on our agenda as trade ministers. reporter: the trade tensions between some of the nations are leaving this partnership between the brics less relevant than it was to be? guest: i think brics remains incredibly relevant at the level of trade and economic relations. it is the most significant grouping of emerging economies in the world. what we are facing now i think is the common challenge that there is this new industrial revolution with a huge change in technologies, digitization, and the qu

speaking to our very own china correspondent tom mackenzie and shanghai.ts, a mixed bag at the moment here it details coming up. plus, the next hour, a former boj board member who was a vocal opponent of governor kuroda. ♪ who knew that phones would start doing everything? entertaining us, getting us back on track and finding us dates. phones really have changed. so why hasn't the way we pay for them? introducing xfinity mobile. you only pay for data and can easily switch between pay per gig and unlimited. no one else lets you do that. see how much you can save when you choose by the gig or unlimited. call or go to xfinitymobile.com. xfinity mobile. it's a new kind of network, designed to save you money. >> from our studios in new york city, this is "charlie rose." charlie: graham allison is a professor at the kennedy school at harvard and the author of "destined for war: can america and china escape thucydides's trap?" he examines the potential for conflict as china threatens to displace america on the world stage. i'm pleased to have graham allison. welc

tom mackenzie joins us now from beijing. what are the details of this new deal? tom: it is big.big. of china's merger number one coal producer with one of their top power generators. and will rename this entity call it the national energy investment corporation. in terms of the size, i'll break down the details. , $271 billion worth of total assets. the company would generate revenues that would put it in second place in terms of power companies. of storage capacity, it would be the number one power company, 225 gigawatts of installed capacity, taking it spain, so itor will be a huge company. it was signed off on monday by the authorities in beijing, the merger, and it signals what analysts say could be a new direction for state-owned enterprise reform, so cutting down some of these bloated state enterprises. the suggestion is we will have companies within certain sectors that are going to be merged, synthesizing, and trying to find some efficiencies there, and this is an example in terms of ahead. mergers going there is an expectation we will get more state-owned enterprises te

tom mackenzie is covering the brics in shanghai. rushing off the latest sanctions?ng off the latest sanctions? tom: that's right, remaining bullish for russian growth, saying sanctions approved by the u.s. congress on july 25 and sitting on the president's desk would not hobble the growth trajectory for russia. he said it was more about trying europeanhe wings of companies trying to do business with his country and said it was a u.s. ploy. take a listen. >> the u.s. sanctions do not involve russia. european business and u.s. business. relations are becoming worse .fter the announcement made the u.s. is trying to win competition against european companies in different markets. divisioning up the have seen over sanctions, not just between the white house and congress, but the u.s. and the eu because of course we heard from france and germany, their disappointment at the u.s. congress stance because they see french and german business is being targeted, trying to curtail their relations with russia. picture, it is positive. he expects full-year gdp above 2% for russia

any and for so with class war now firmly on britain's political agenda we're joined now by dr lisa mackenzie research fellow at the london school of economics she's the author of getting by estates closs and culture in austerity britain thanks so much is going back home serviceable asking me what your reaction to the resumes supporters very clearly according to the london british media report saying they don't want the london politicized. this this cannot be anything else but political this is not a natural disaster what's happened here is it's about carelessness it's about. not caring about working class people in this country housing is our biggest shame and actually has been britain's biggest shame for generations this is not new there is no political points to score here there is only the truth. about this is you know this is been my life all of my life i grew up on a council estate i have i have lived in these sort of places one more read about my child and what happens to was you know this isn't really much more than a political point but it is it is politics villages it is closer to h

tom mackenzie joining us now from beijing.change and why is there this controversy? tom: it is a chinese firm leading this bed. interestingly, their business here is focused on real estate and sewage treatment plants. what they want to do with the exchange in chicago is use it to help chinese companies list in the u.s.. say think and their backers it would help breathe life into the chicago stock exchange, which deals with volumes of less than .5% of all trading volumes in the u.s. of ipos int listings the u.s. have been falling off over the last two decades, so proponents say it could help boost the number of ipos in the u.s. detractors include a number of representatives in the house and president trump himself, who hit out against this deal on the campaign trail. he has said what you are not going to be able to do is get visibility on the owners of the exchange if they take it over. there is also concerned that could become a place where you than six chinese companies listing in the u.s., imposing a thread on u.s. investors

that is tom mackenzie in beijing on the birth of a behemoth in chinese energy.l talk more about how this plays out in the markets. >> looking at china, we could argue it is showing some signs of shining. china and hong kong indices have been beating earnings estimates this year. returnchinese companies on equity, really improving in the first half. >> correct. china's return on equity has been falling for four consecutive years. the first half, we seem to see that the r.o.e. has stabilized and picked up. one reason is because of largery consolidation, companies. it ties to the merger. when the government wants you to carry out the supply-side reform and ends -- industry consolidations, you -- economicfrom an standpoint, that is the question. >> absolutely. we looked at all of the publicly listed chinese companies in hong kong and we noticed the large companies are growing faster than the smaller ones in terms of sale and earnings. that is surprising because you would imagine smaller companies grow faster. rishaad: because of the consolidation and the point being

. >> paula hancock is live in seoul, and david mackenzie standing by in hong kong. paula we know this meeting is set to take place in the next 15 or 20 minutes with the chairman of the joint chiefs of staff and the south korean president. what more can you tell us about what's expected and why this is such an important meeting? >> reporter: george it's important from the south korean side to know the u.s. thinks the same way they do. over the last week you've seen some strong remarks from the u.s. president donald trump whereas in this side, the south korean side, would like to see more diplomacy, and a chance for the economic sanctions to work. so i think that's what the president will be looking for. we heard from the south korean president he had a special advisors meeting and he did urge north korea to immediately halt all provocations saying if north korea did decide to take the right path and make the right choice they would see improvements in korean relations and developments in those exchanges. also saying the south korean preparations of a contingency plan

takeover bid ppg earlier this year elliott has raised its stake in bhp billiton this allows ken mackenzie to take constructive steps for bhp and owners elliott called bhp to exit the shale business and end all parts of its petroleum business. >>> get in touch with us on twitter, streetsignseurope@cnbc. tweet me directly, @carolincnbc. do send us your thoughts on anything you see on the show and maybe about this -- coming up on the show, after a short break, runway wars air berlin filed for bankruptcy sparking a battle royale for assets we'll examine who is eyeing what after the short break. and i got robbed. that's why i started lendingtree-- the only place you can compare up to 5 real offers side by side, for free. it's like shopping for hotels online, but our average customer can save twenty thousand dollars. at lendingtree, you know you're getting the best deal. so take the power back and come to lendingtree.com, because at lendingtree when banks compete, you win. fixodent plus adhesives. there's a denture adhesive that holds strong until evening. just one application gives you superio

jordyn mackenzie. bob is usually here. she is absolutely gorgeous.e definitely looks like her mother and not bob. bob, we love you. she looks just like me [ laughter ] seriously. congratulations, bob and carla, we love you guys. thanks for watching. good night. >>> this quote from steve bannon. now i'm free. that's the tune from president trump's now former chief strategist after being ousted from the white house. that is one of our stories this hour. welcome to "cnn." i'm natalie allen. >> i'm george howell. >> it is 10:00 a.m. in barcelona, spain. i'm becky anderson. a manhunt for the man still at last. cnn newsroom starts right now.

mackenzie put out a report earlier this year from the top 10 firms that they expect to see a 30% reduction so that equates to something like so billion or 1.3 billion you would expect to see some job losses. vonnie: on the other hand though , sara, you can buy to the research capabilities for less perhaps now for a certain way or of research. that might create jobs if more people buy and that would not have necessarily been able to afford it. also, what about specialty research houses? could there be more of those? sarah: of course. firms are so going to employ analysts, but they will keep the top ranking. you might see those teams fall out of the top three or four spinoff and go into their own things. we are starting to see some of that emerge. going to pay for research, you will be more discerning about what you're going to pay for. it might put the specialty houses in the better light and it will help businesses along as well. consider ising to that asset managers themselves need that their party researcher and analysts. for those lucky analysts that find themselves without a job on the

tom mackenzie joins us from beijing. how much do we know? this is policy catching up with reality.ndave seen these curbs they have started to bite already in terms of out founded dealmaking. this is the state council formalizing this, three categories they will be focused on, taking a hands-on approach to overseas investment from chinese firms. completely, banned casinos, gambling, military technology. there will be restricted areas, leisure, entertainment, sports, property. thirdly, the category of outbound deals that will be actively encouraged, deals focused on the health and road initiative, oil, mining, -- belt and road initiative, oil, mining, essentially a question of focusing on bread-and-butter dealmaking to underpin china's national economic priorities, less of the big, headline glamorous deals, and it follows on the extra scrutiny we have seen on the conglomerates here. some of the big private companies have been on a massive buying spree in the last few years and we have seen them scrutinized over bank lending. of this renewed focus on financial risks and the government

tom mackenzie joins us from beijing. you have to say this is down to downstream operations.he oil price around $53 a barrel, up 30% from last year, is a key part of positive results broadly across the three major energy producers in china. sinopec enjoying the others reporting last week was stronger earnings. it is the best profit we have seen in the first half for sinopec and since 2014, net income of $4.2 billion. in terms of the different units of the businesses, the chemicals side saw some strong numbers, profits up 26% because the prices around the chemicals products that sinopec produces have been stronger. 6% outstripping the negatives from the refining parts of the business, profit down around 10%. so it is the chemicals unit in sinopec that has driven the first half profit, and that stronger crude price. the refining part of the business takes in that crude price as the main input, so that is a drag, but it is the chemicals numbers supporting. a strong set of earnings for china's oil and gas sector overall. that's right. petrochina and cnooc last week. petrochina ca