stocks have turned around in shanghai.om china that was close to expectations. a disappointing forecast from malaysia where chief oil is having -- cheap oil is having an adverse effect. >> the imf should be releasing its outlook for the global economy. plus, the movers and shakers in davos. lots to think about at the world economic forum. we see what is topping the agenda. and the richest versus the rest. warnings that the top you will soon control half of the globe's wealth. that is all coming up in this hour of "asia edge." >> what we are seeing is a day when the dollar is stronger. equities are rising. we are looking at gains led by japan, hong kong and shanghai. what else are we watching across the markets? malaysia and australia, the usual laggards. nothing special there. australia oil prices

this report from john sudworth in shanghai. >> reporter: because of safety concerns, this year shanghai's celebrations were meant to be smaller in scale, but photos show a major public order disaster unfolding. the stampede reportedly caused by someone throwing paper money from a window. the injured were taken to a number of hospitals where relatives faced a distressing wait for news. >> translator: i just want to know what's going on inside the hospital. many relatives had asked to go inside and ask the hospital to give us a list of the injured, including the conscious and understand conscious ones, but nobody got back to us. >> reporter: shanghai, one of china's showcase cities with 24 million residents, traditionally celebrates its new year on the bund and once again, thousands packed on to the historic waterfront. one of the injured says people were trying to move in opposite directions. >> translator: we were down the stairs and wanted to move up, and those who were upstairs wanted to move down, so we were pushed down by the people from upstairs. all those trying to move up fell down

john sudworth bbc news shanghai. >>> you're watching "bbc world news." let's bring you some other news from around the world now. in nigeria, a bomb has exploded at a military barracks in gombe. there have also been reports of gunfire. it's not yet known if there are casualties. the explosion itself follows an attempted attack at another barracks on wednesday. >>> a tropical storm that passed through the philippines this week has left more than 50 people dead. the storm hit the south and the center of the country. winds of up to 80 kilometers an hour gusting. authorities have criticized some people for ignoring the storm warnings. >>> in his first public ceremony of the new year pope francis has prayed for blessings for the entire human family as he put it. thousands of people crowded into st. peter's square to see him and to listen to him. celebrating mass in the morning in st. peter's basilica francis asked that god grant peace to our days. >>> a passenger aboard the airasia flight which disappeared last week has become the first victim to be returned

i was born and raised in the shanghai. coming now, and -- of the things i wish to pep nt out, when they talked about a glowing report which is john davis and all these peoples, the peopl rs liberation army walked in shanghai on may 25th, 1949 the few farmers that revers, and the chinese because of all this propagandas they heard overs the years that they very kind nice to the peasants never stealing anything. this is carried on. they found out in six months it was a different story when they took over the estam mishment. thank you very much. >> i wish i had known you when i was still doing the resea form mi >> i am a lith without exception these people were savaged after the communists. it was published in liberation daily. criticized the communist movement for its levels of privilege, the leaders had better food better clothes, better clothes for their kids, everything was better and why should this be? why are we replicating the bills of the old society. this was something to single out one person. that person becomes th

coming off the biggest drop since 2008, stocks and shanghai -- stocks in shanghai. welcome to "first up." i am angie lau. let's check in on markets. australia, it is unchanged at the start of the session. let's see where it heads. rio tinto reporting fourth-quarter production rising 12%. that will move some equity shares today, no doubt. australian dollar is weakening. new zealand unchanged as well. new zealand coming out today with a quarterly survey of businesses. 23 from a previous 19. we are counting down to the opens in japan and korea. higher.25, closed futures in chicago pointing to a higher open. china a day investors in with like to forget. monday saw the shanghai composite plunge close to 8%. the 300 largest companies lost a combined $290 billion. where are we? >> not in a good place. >> what happened in china? >> that is something you do not normally see. i think the last time the shanghai composite dropped this much was during the lehman brothers days. maybe just to recap for our viewers, we had the csr suspending three brokerages from loaning money to c

shanghai is up? >> one of the things where shanghai is up at the hong kong markets are down.in 2014. insane, really. some analysts would describe it. 32.78. this is a five-year high. if you close above 3000 3303 and that would take us back to the high of december 2009. key levels to watch. volume is fairly heavy especially for this time of year. in china about 120% higher. i also want to mention, the repurchase rates a gauge of the availability of liquidity and the system. dropping the most in two weeks. 4.5%? i think. a look of what is happening in shanghai very quickly and the mining stocks. mining energy and transport stocks. that see you. >> angst. we are -- aches and we -- thanks and we are joined by a guest from merrill lynch. what are the prospects broadly speaking? >> 2015 will be a good year for china growth will be moderated. around 7%. inflation will be even lower. i think this is good for china because china has a net input of commodities and will enjoy games g --a --gains especially from oil. >> is a function of supply? >> mostly a function of supply especially f

a tumble underway for stocks in shanghai.ormers last year, brokerages are leading the way down. and was a they are facing pressure from the government amid trading with borrowed funds. china's drive against corruption and access has forced one macau layer to look elsewhere. it is shutting three of its seven casino groups in macau blaming the industry downturn. they say they will turn their attention to the philippines. alliance industries feeling the effects of cheap oil. the largest refiners reported a profit decline, many falling 7%. their biggest decline in more than five years. that is a check of today's top stories. >> the race to host the 2022 olympics are down to two bid ders. decisions will be made in the end of july, with many expecting the chinese to prevail. the founder of burton snowboards says china is poised to become a powerhouse. >> in some ways, it is better here because we have world-class athletes already as we get the sports going. girls are making the finals in the half pipe. there are some incredible rol

there was a 53% surge in shanghai last year.f you look at -- [indiscernible] this index right now, asia is about a 30% premium. >> tell me what is going to trigger that premium to be eroded? >> if you take a look at the current situation in asia there is a lot of reauthorization because 50% of the market transactions in the asia market -- there was some risk. we do not rule out a short-term reaction in the market. some of the market indices are trading at quite excessive valuations within the a-share market. if we lose some sentiment given that the a-share market is more sentiment-driven, -- [indiscernible] >> isn't the relation here that a-share trading is dominated by the retail investors whereas institutional investors look at h ones? >> that is correct. if you look at the h-share index, it is 50% owned by institutional investors while a-share market is owned by retail investors. the h-share market is trading at more decent value compared to a-shares which are more sentiment-driven. right now, you would buy h-shares instead o

that is -- is delisting from shanghai. the value in the past year -- they lost a total value in the past year. it was an offer before christmas for $30 a share. they are valuing at $3.1 billion. you cannot justify a higher bid. you expect the third of visitors to come from china. samsung is moving from smartphones to tvs. to maintain a challenge to google the first tv powered by software will be displayed as week in las vegas -- this week in las vegas. samsung wants to reinvent itself and in a top $7 trillion -- they may top $7 trillion. speaking of smartphones, china's largest smartphone maker enjoyed 2014. this event revenue doubled last year -- very same revenue doubled last year. take a look at their unstoppable rise. what is the secret? >> it is a big boost. you cannot beat good quality and low prices. they sold millions last year 68.1 million to be exact, and they say there is more. next week, the ceo will release the new phone and announce a key, important product. we do not know what it is but we will lockout. -- w

a new year's eve stampede in shanghai. 36 people dead and dozens injured. china's president calling on officials to quickly determine the cause. and efforts to recover more bodies from the java sea hampered by bad weather. we will have more from our correspondents in indonesia. thank you for joining us here on "france 24." we stopart with egypt's top court ordering a retrial of three al jazeera journalists. they were accused of aiding a terrorist organization. after the quick hearing they were denied bail. >> array -- a ray of hope for three al jazeera journalists. a new trial in their case canceling the sentence handed an earlier. it came at the end of a brief appeal hearing. however, the court didn't grant bail on the journalists must remain until the trial begins. peter greste, mohammed fahmy and baher mohammed have marked one year since the arrests. there were sentenced to seven-10 years in prison back in june. follow the shutdown of -- this follows the shutdown of al jazeera's egyptian operation last week. >> with al jazeera going to be shut down in eg

the shanghai poverty index down 3.6% at this point in time. one last group of stocks i will point out, railways. china cr chr csr -- what is the story here? securities regulation saying the shanghai exchange is examining share training -- trading for executives of these companies. you are talking 11 employees, including the chairman of cnr. that they did trade securities in six months leading to the time when shares were suspended pending the merger. according to filing, we did see trading take place by cnr. but they are investigating whether or not there were violations found. we are following that story. shery ahn, back to you. >> today, we had the launch of the asia financial forum in hong kong. you have been there live all morning in the company of john dawson and a string of guests. john, is the swiss franc top in your conversations? >> without a doubt. it has been the center point of conversations. in davos a lot of people are going to be talking about that as well. it was a significant you turn -- u turn. of concern, will denmark do it

coming up, the shanghai composite recording some violent booms.ould new margin trading rules put an end to its record run? a roundtable discussion when "bottom line" continues in a moment. ♪ >> stay with bloomberg on thursday. bill gates sat down for an exclusive interview with erik schatzker. we have highlights of that interview all day tomorrow. it has been a bumpy and wild week for china's shanghai composite. the index plunged nearly 8%. as after regulatory efforts sparked concerns that traders would pull out from the world's best-performing stock market. today, shares soared. recording their biggest one-day percentage gain in more than five years. hasn't been recovered or could the shanghai composite finally be running out of steam? joining me with answers is scarlet fu and tom warlick. he joins us in new york this week. thank you both so much. 4.7% rise today? what happened? >> it's a bit of dead cap bounce. that does not necessarily tell the whole story of what's going on in china. >> a lot of this rally has to do with expectations. the cent

despite that, the shanghai cobb is still up over six months.he swiss decision to allow the frank to trade freely against the euro has caused a big dip. the $830 million global fund was completely wiped out. that follow several brokerage firms that have gone bust because of the move. the european central bank 93% of respondents expect that ecb to announce a sovereign qe program this week. mario draghi is likely to announce a 750 billion euro bond buying program. let's keep the discussion on the ecb, we are joined by the head of the fx strategy at the bank of montreal. great to have you. we will first indulge in a guessing game, let's peculiar -- let's be clear, that is what is your it what is your base case? >> the 500 billion euro number has been floating around and anything between 500 and 1.5 trillion euros as an announcement is something that we should be looking for. the goal of the ecb is a result of these asset purchases. i would look at that as mainly an effort to keep the euro cap. or to use the dollar strength as it were to the ecb adv

the shanghai cop as it had -- composition has fallen more than a percent. the suspension of three lending firms from new accounts. concerned that the recent surge in stock prices could lead to instability. more on this. ivanovic, just spell it out to us what the chinese authorities are trying to -- yvonne just spell it out what the chinese authorities are trying to clamp down on. >> basically, you cannot borrow money to go into this ultra bull rally. use august or magic increase in the year. talk about the plunge. the most in six years. we are talking about 350 alien dollars -- 350 billion dollars wiped out in one day. that is after the government says the largest brokerages were stopped from adding these accounts. nine brokerages were penalized but we did see those tank. eight shares in hong kong tumbling as much as 6% today. dramatic before today's fall. this outstanding margin we see a pretty big chunk of it. ¥1 trillion as of last week were reported. the big question as to why the government is doing that. are they trying to rein in this ultra rally cup

take a look at the response today shanghai, as it -- shanghai composite climbing more than 2% today onhe heels of this gdp figure. is there room to grow when it comes to the equity rally we have seen in china over the past couple of months? >> i think the markets will move slowly. i think they are telling us there are lots of margin investors which are fully -- pushing up the markets. whenever we think fundamentally about chinese equity markets is it on the low-end versus markets like india? the increased volatility we do not like to have as investors. >> imf coming out with its report on global growth. we are going to break that. the world bank revised its growth forecast down, saying that china, among everybody else, is going to be seeing a slowdown, except for the u.s. that was the world bank assessment. when you think about china in that way where can the growth be? i know they are trying to figure it out, but will they be able to control it? >> i think they will be able to control it in china. the u.s. is now really the growth center of the developed world at this point in time. i

celebrations in shanghai have turned to tragedy. many more are reported injured. investigations beginning into a cargo ship carrying 900 migrants and set to a collision course. less than 24 hours after the palestinian authority failed to bring about the u.n. vote in the israeli occupation, president abbas has made good on his promise for a friend approach. threatening israel with charges of war crimes. the move is already being condemned by both israel and the u.s. our washington correspondent says the u.s. state department issued a statement containing some very strong language. >> they say they're deeply troubled by today's action regarding the icc. they say that today's action is entirely counterproductive and badly damages the atmosphere with the very people they need to make peace. confirmation about this move. we know the u.s. believes that restarting peace talks is the way forward. >> have indicated a plan for how this is developing? >> piece talks collapsed earlier in the year. john kerry conducted what was referred to as shuttle diplomacy. going to the mi

. >>> a new year's celebration in shanghai ended in disaster. more than 30 people died in a stampede. people gathered in a popular tourist spot by the river to watch a light show on nearby buildings. so many packed into the streets, they brought traffic to a stand still. then the crowd surged. roiters reports at least 36 people died. city officials say 50 others got taken to the hospital. they're trying to figure out what caused the accident. >> translator: when i was climbing up the stairs people coming down pushed us and we all fell. >> the shanghai hospital is treating the victims. they're swamped with people worried about their loved ones. some frustrated with the lack of information vented anger on the security staff. >>> chinese president xi emphasized china declared september 3rd the day of victory in the day of resistance against japanese aggression. he said china designated september 13th as a day of remembrance for those killed by the japanese military in 1937. the president noted the sacrifices and contributions made by the people who

. >>> in china, dozens killed and we'll be live in shanghai. and new york police here on high alert as more than a million people crowd into the time square to ring in the new year. let's go outfront. >>> and happy new year. i'm jim execute out in tonight for erin burnett. one report is that the main fuselage had been located, not only located but lying upside down on the java sea floor and that official has since dialed back his assessment. and then today the airline ceo emphatically declared it is still missing. search teams have not found it on sonar. >> we are narrowing the search and we are feeling more comfortable that we are beginning to know where it is. there is no information we can [ inaudible ]. >> devastated family members face emotional whiplash informed first the plane was located, providing some small measure of hope and then told the opposite. the plane still missing and the relief quickly fading. and so as day breaks that hour the search resumed but facing big waves and high winds, grounding all aerial operations. searchers ha

also ahead, at least 36 people are killed in a stampede at a new year's celebration in shanghai. >>>orth korea's leader says he is open to talks with south korea. >>> from fiber optic fashion to eyes in the sky, we check out the hottest tech toys for 2015. ♪ >>> we begin in egypt where the first day of the new year has offered the prospect of a resolution for three al jazeera journal journalists who spent all of last year in jail. but they will remain in custody. the retrial could get underway within a month, but there's no telling how long it could take. their lawyers say they will seek bail for the three who were falsely accused and convicted of spreading propaganda in support of the muslim brotherhood. >> reporter: they never saw a minute of freedom in 2014 and with the start of a new year they remain imprisoned. despite an appeals court in cairo, granting the retrial, baher mohamed, peter greste and mohammed fahmy are still behind bars. the judge said it was not in his power to grant bail. >> translator: we welcome the court's decision to accept the appeal of our journalists, but

. >> four officials in china have been sacked over a stampede during celebrations in shanghai. the police chief and deputy police are among those losing their jobs. the crush happened in chennai square where a huge crowd gathered for the counselled down. adrian brown joins us to tell us about the decision to sack officials, and what you know about the investigation. >> well of course it has to be said this is a famous waterfront that is to shanghai what times square is to new york. on what should we one of the happiest evenings of all, we have a terrible tragedy. 36 people were trampled to death. 49 were injured, among them a 12-year-old child. in the hours after this president xi jinping ordered an investigation, and in three weeks we have the results of that inquiry. the investigators recommended the sacking of four officials. now, the focus of the investigation has been whether the police gave adequate notification to the public about the fact that a light show held on the bund that evening would be cancelled. normally the light show is a feature of the celebrations. the que

the greater china taking place in shanghai. >> now to a story that is moving markets in hong kong. billionaire li ka-shing's shakeup of his empire. zeb eckert joins us with the details. cheung kong holdings surging to levels not seen in years. >> the stock is moving in response to this decision by the company to split it up. the corporate empire that has made him a billionaire, the richest man in hong kong, now undergoing changes. this restructuring effectively splits the businesses apart and puts the property business in one separate entity and allows cheung kong to go out and invest in new businesses. that is what we've seen in recent months. they have expanded into the aviation leasing business. they bought 45 planes from general election. __from general electric. they are also keeping the li family actively engaged as shareholders, allowing them to go out and seek these deals. let's listen in. >> if you have two separate companies side-by-side, both controlled by li family, and any shareholder owning shares in each of the companies will be investing directly together with the c

the shanghai composite take a look at that down 7.7%. the biggest one-day percentage drop that we've seen since june 2008. this came after chinese securities regulators punished some major brokers for illegal margin trading operations. the plunge in mainland china pushed down hong kong's bench mark hang seng. it was down 1.5%. here in tokyo the nikkei managing to close above 17,000. barely there. up 0.9%. australia's main index snapping a five-day losing streak to close up 0.2%. well major bench marks in europe are looking like this at this hour. all of them are in positive range right now with paris turning around. it's up 0.2%. london gaining, as well about 0.2%. the frankfurt market is up 0.6%. investors are waiting for the policy meeting of the european central bank on thursday. attention is on whether the ecb will launch a bond buying stimulus program. we're seeing the euro still near its 11-year low against the dollar at 1.1601. dollar/yen is at 117.31. strong u.s. economic data prompted buying of the dollar but the rattle on the s

this deadly new year's eve stampede in shanghai year's eve stampede in shanghai. what police say didn't cause it. >> despite wet december. concern about the drought not ended. another half hour of 7 female announcer: get beautyrest, posturepedic even tempur-pedic mattress sets at low clearance prices. save even more on floor samples, demonstrators, and closeout inventory. the year end clearance sale is on now at sleep train. ♪ your ticket to a better night's sleep ♪ is sz. >> we begin half hours of news with the bagging of mario cuomo former governor of new york. he served 3 terms as governor even considered a presidential run at one point. he passed hours after his current son was sworn into office the second term today as govern. he famously delivered the key note address at the 1984 democratic national convention in san francisco known as the tale of 2 city speech in which he attacked president reagan declaration of the nation with a shining city on a hill. widely regarded as one of the most significant speeches of the 20th century. mario cuomo was 82 years old

captioning sponsored by macneil/lehrer productions >> sreenivasan: new year celebrations in shanghai turn tragic with dozens killed in a stampede. good evening, i'm hari sreenivasan. gwen ifill and judy woodruff are away. also ahead this thursday, one year after conviction an egyptian court orders a retrial for three imprisoned al jazeera journalists on charges of spreading false news. across the u.s. millions of workers get raises in 2015 as minimum wage increases take hold. plus, economic strategies to help you stay true to your new year's resolutions. >> sreenivasan: those are some of the stories we're covering on tonight's "pbs newshour." >> major funding for the pbs newshour has been provided by: >> lincoln financial-- committed to helping you take charge of your life and become you're own chief life officer. >> supported by the john d. and catherine t. macarthur foundation. committed to building a more just, verdant and peaceful world. more information at macfound.org >> and with the ongoing support of these institutions and... >> this program was made possible by the corporati

the shanghai composite results in the biggest drop. no u.s.ck markets are closed today. >> a big week. a very big week. uncharted territory, we are already there. you be taking another step into that uncharted territory. let's talk to paul in frankfurt. >> the market is anticipating a lot. >> a lot is a subjective call. earlier, we are looking out proposals -- the markets are saying the ecb needs to go further. speculation that draghi will top the new expectations. and he might to. he is looking at a trillion euros to the ecb balance sheet. he has 200 billion euros to be repaid by the banks of the next few weeks. current programs they really have not added a huge amount so far. he is going to have to go a long way. there will be out there saying, we would rather see more. >> the major haggling seems to be over allocating risks. where the possible outcomes? >> quite a few. there are some governors saying we need -- we do not like qe. for example, german taxpayers would take on the burden of potential losses from buying foreign debt. what he wou

rules in the case of three al jazeera journalists >>> a stampede at a new year's celebration in shanghai. at least 35 are dead. >> new beginningings. north korea's leader kim jong un says he's open to talks with south korea >>> we go to kenya to see how the nation is deal with tough new anti-doping laws. >>> but first a trial has been ordered for three al jazeera journalists who were gaoled in egypt more than a year ago. the court in cairo accepted an appeal from their lawyers, but it's unclear when peter greste, mohamed fadel fahmy and baher mohamed will be back in court. al jazeera says the original trial was flawed and continues to demand their immediate release. >>> now, here is a reminder of the case - the three were arrested in cairo on december 29th, 2013. after a trial they were sentenced in june. peter and mohammed to 7 years in gaol. badr given 10 years. the trial was condemned around the world. in october the authorities in cairo announced a judicial review, the hearing on jan the 1st. earlier this week vigils were held to mark one year since their arrest. we have more. >> rep

i was born and raised in shanghai so i'm coming now using -- do you speak shanghai dialect?>> no. >> okay. the other thing i wish to point out when you talk about the glowing reports which is john davis and all these people. when the pla people's liberation army went to shanghai on may 25 1949 a few foreigners were there including my family and the chinese because of all the propaganda they heard over the years that they were very kind to the peasants and never stealing anything. so this carried on. they found out six months it was a different story when they took over the establishment. so thank you very much. >> thank you for that. i only wish i had known you while i was still doing this. [inaudible] [laughter] >> okay, all right. by the way another theme of the book is the tendency and let me just give you one. the tendency of chinese intellectuals to feel favorably to the communists. they would woz and away the devil they didn't know. they had a good reputation they were fighting the japanese. they were protesting the one-party dictatorship. they were calling for the rel

coming off the biggest drop since 2008, stocks and shanghai -- stocks in shanghai.me to "first up." i am angie lau. let's check in on markets.

. >> shanghai's skyline towers over the stampede. people drawn to the plaza named after the first communist mayor. mourners laid flowers, but they were afforded little privacy as they prayed for the three dozen dead. witnesses said the disaster centered on an overcrowded stairway leading to the riverfront promenade. >> there was not enough policing and planning. it is really sad to see this happen in a big city like shanghai. i hope the tragedy will not repeat itself in the future. >> these were the scenes as crowds were evacuated after the crush. civilians and rescue workers linked arms to protect the victims. hospitals received the dead and injured who knew they were the lucky ones. >> people standing above us pushed us down. we could not get up. and then a group of people stood above us. we were pushed down. >> the authorities canceled an official street party nearby. an investigation is now underway into the incident. among the possible triggers, suggestions revelers were scrambling for fake money. although others insist the caus

at least 35 people died in a stampede in shanghai.lorence libby reports. >> reporter: a night of revelry turned chaotic. this is the scene of what started as a new year's celebration. instead, the injured lie on the ground run down in a stampede on shanghai's waterfront district known as the bund. the stampeed started just before midnight. police say they are still investigating the cause. >> we were downstairs. those who were upstairs wanted to move down. we were pushed down by the people coming from above. all trying to move up fell down on the stairs. >> local media say witnesses reported seeing coupons being thrown into the crowd. they looked like dollar bills. pictures of the coupons have appeared on social media. the bund is a popular spot in the city with restored buildings and narrow streets. a new year's eve lazar display had been planed here the 1 in 2013 had attracted some 300,000 people. but a week ago, the local government cancelled the show. the official reason: to improve traffic flow. >> it's hard to cancel tradition.

the injured lie on the ground run down in a stampede in the waterfront district in shanghai. it started just before midnight. police are still investigating the cause. >> translator: we were downstairs wanting to move up and those who were upstairs wanted to move down. so we were pushing down by the people coming from above. all those tries trying to move up fell down on the stairs. >> reporter: witnesses reported seeing coupons thrown into the crowd and looked like dollar bills. the pictures of the coupons appeared on social media. they have restored old buildings and narrow streets. a new year's eve laser display was planned here. the one in 2013 attracted 300,000 people. a week ago the local government canceled the show. the official reason? to improve traffic flow. it's hard to cancel tradition. it's a gathering place for major events so people went thru anywhere apparently in the thousands. it's not clear what kind of crowd control measures were in place, but it seems whatever it was, it wasn't enough. florence liu, al jazeera, beijing. >>> north korea's leader is propos

it could sell in shanghai for more than 11 million euros.he company has only received 10 orders for such buildings. the egyptian government ordered 20,000 small houses. some say that 3-d printing technology could have wide appeal but only if we find a way to build vertically in paris, because there's not enough space here. >> and sure it will happen soon enough. thanks for that business roundup. next, time to see what is creating a storm on the web. it's web news. ♪ >> welcome to the web news, with our pick of the stories making online headlines. miss lebanon in hot water for posing with miss israel. and an american dad creates a massive children's play area. miss isrtaael is currently in miami for the miss universe pageant, which will be held january 26th. she posted a selfie to her instagram page in which she's posing alongside fellow contestants from japan, slovenia, and lebanon. seems harmless, but it prompted strong reactions in lebanon, on social networks, and in the press. a lebanese paper reports that the photo triggered controversy

an investigation is being launched into what caused a mass new year stampede at shanghai's waterfront that left 36 head and dozens injured. the chinese president has joined others in expressing his condolences to the families of the dead. huge crowds have gathered at the city's historic waterfront from midnight party when panic broke out. today, some of them were returning to the site. >> hundreds gather at the square to pay their respects to those who died in the stampede. just a few hours earlier, the scene was very different. the chaos began half an hour before the clock struck 12. police are investigating what caused the panic but they have dismissed early speculation that fake money played a role. authorities say promotional coupons which look like banknotes were thrown into the crowd from waterfront building after the stampede occurred. ambulances struggled to make their way through the crowd so they could transport the injured to nearby hospitals. some survivors were in shock. >> people upstairs wanted to come down, and those downstairs wanted go up. people at the top began to

the shanghai composite getting focus earlier. it is down .5% after having posted its biggest one day gain in five years. so tokyo and shanghai underperforming somewhat and that's all for me. back to you. >> thanks a lot for that update. >>> president barack obama has called on congress to finalize the transpacific partnership free trade deal. he made the appeal in the state of the union address. >> china wants to write the rules for the world's fastest growing region. that would put our workers and our businesses at a disadvantage. why would we let that happen? we should write those rules. we should level the playing field. that's why i'm asking both parties to give me trade promotion authority to protect american workers with strong new trade deals from asia to europe that aren't just free but are also fair. >> u.s. trade representative michael froman spoke in washington the day after obama's speech. >> we look to congress to pass bipartisan trade authority. it's clear that administration and congress are on the same page in neg

the shanghai composite is up 1.87% following the plunge we saw on monday of over 7%. australia is also trading higher on hopes of further growth in china. that's all for now. >>> major japanese machinery construction makers are trying to offset a labor shortage by using information and communications technology, or ict. officials at komatsu have announced they'll introduce an ict system with machines supporting work at construction sites next month. they say an automatic flying robot or drone can survey a construction site in less than one hour. the same task would normally take humans a few months. construction machines that receive the data collected by the drone will then automatically excavate the ground. seasoned skilled workers are generally needed for this kind of land survey, but with the new system, workers will only have to transport machines to the designated sites. the number of people working in the construction industry has been falling. industry officials are concerned that the labor shortage will become more serious as preparations continue for the 202

bucking the trend, though was shanghai closing at a 5.5 year high.investors there bought shares on hopes for more policy stimulus. moving on to currencies now the euro has recovered a bit against the dollar after briefly falling to an 11-year low. we're seeing euro dollar right now at roughly 1.1592. the surge in the safe haven swiss franc also triggered buying of the yen, which is also seeing as another relatively safe asset triggers though bought back the dollar when it hit the 115 yen level. we're seeing the pair now at roughly 116.61. well trade officials from japan, china and south korea are meeting in tokyo for a fresh round of talks on a three-way free trade agreement. the focus of the two-day gathering is to iron out differences on a framework for tariff discussion. chief negotiators kicked off the talks by tackling tariff elimination rates and time frame. they then plan to deal with tariff cuts item by item. negotiations have frustrated officials for the past two years as they try to hammer out a broad framework. japan is calling for the swi

more than 35 people died in a stampede in shanghai. we have a report. >> a nice of revelry quickly turned chaotic. this is the scene of what started as a news celebration. instead, the injured lie on the ground, run down in a stampede on the water front district. it started just before midnight. police are investigating the cause. >> we were down stairs, and wanted to move up. those upstairs wanted to move down. we were pushed down by the people coming from above. all those trying to move up fell down on the stairs. >> local media say witnesses reported coupons being thrown into the crowd that looked like dollar bills. pictures have appeared on social media. it is a popular spot in the in the city with restored buildings and streets. a week ago the local government canceled the news show to improve traffic flow, but it's hard to cancel tradition. it is a gathering place for major events, so people went there anyway, apparently in the thousands. it's not clear what crowd control measures were in place but it seems whatever it was it was

. >>> in shanghai, a new year's celebration turned into a stampede killing 35 people and injuring 42 others just before midnight. state media says many of the victims were women, students and shanghai's annual new year's eve countdown along the riverfront was canceled last week due to crowd control issues. this stampede appeared to be near that same area. officials are now investigating what caused the party goers to stop running. >>> -- start running. >>> no problems in new york where the clean-up began almost immediately after the ball dropped with much fanfare and many kisses. nearly one million people crowded into times square where temperatures were very chilly. there was also a heavy police presence with bomb sniffing dogs. they checked including a search of every bag. >>> still ahead, what jeb bush just did that makes his presidential aspirations even more clear. >> and later, how a high school student is honoring her past at london's new year's day parade. >>> pope francis prayed for blessings for the entire human family during his annual new year's day service. tens of thous

he's reflecting on the stampede in shanghai that injured people.called it anxiety resulting in tragedy. it's what is certain is when asked to -- what an accident is long overdue in a city that takes particular often reckless pride coming staging large spectacles which draw big crowds that underscore the worthiness of the expense. these are increasingly happening. >> one of the critical parts of china strategy is to switch over from the industrial bassist urbanized. as population growth slows, we have to make things more urban. as you urbanized, per capita things rise accidentally. -- exponentially. you have to have infrastructure to handle that. >> last week, we reported that the biggest equity mix that had the biggest rise last year with a shanghai composite. you don't get that kind of growth without problems. those events are twinned. >> the problem with china is that it does thing in extremes. it doesn't have a measured approach. crowd control, they know how to react in extremes with guns. they haven't mastered the art of crowd control in modera

shanghai's composite index was down 0.9%. the hang seng losing 0.4%. analysts say both of them were dragged down by financial and property shares. they say investors are concerned about the effects of the cooling chinese economy on profits. well in terms of currencies traders have been buying back the euro against the dollar. the pair now at roughly 1.1276. investors have their eyes on the outcome of the u.s. fed's first policy meeting of the year for any clues on the timing of a rate hike. meanwhile the dollar is in a pretty narrow range against the yen at roughly 118.07. market players are watching the u.s. economic indicators including new home prices and manufacturing data. >>> well finance ministers from the eurozone nations have discussed how to handle the debt problems of greece after the country's new anti-austerity prime minister took office. the ministers say they will hold talks with the new greek government if it stays in the eurozone. alexis tsipras led the party to victory in sunday's election. he's calling for a review of the austerity m

. >> shanghai, china's largest city. its towering waterfront and bustling streets. it is also home to chemical companies churning out synthetics, or pure poison. in the emerging global market of the synthetic drug world the shanghai region is the epicenter. >> come in. >> this is the office of a synthetic drug dealer. undercover video taken by a french documentary filmmaker of a bragging drug entrepreneur claiming to supply the world with his manufactured highs. >> this stuff pv-8. sells popular in russian market. people take it and put in mouth or in nose. it's okay. >> this tour is a sales pitch. the undercover reporter is pretending to be a buyer. >> safe. not dangerous. not poisonous. >> this is k-2. very famous in america. not for human consumption. [ muted ] all this stuff work. you send us your design, your logo, what kind of size packing you want. we can send to you from other european countries. more safe than directly sent from china. we handle all the logistics. if the package is lost, we resend again -- >> for free? >> for free. so that's our guarantee.

also to come, a stampede at a new year's celebration in shanghai, 35 people are reported dead.th korea's leader kim jong un says he's open to talks with south korea. ♪ ♪ >>> the celebrations around the world as 2015 begins. ♪ ♪ >>> but first an appeals court in cairo has ordered a retrial in the case against three imprisoned al jazerra journalists. the court of cass saying was unable to grants bail for the three because it legally is not able to do so. however the court has canceled the jail sentences handed down to the three last sum her. mohammed far me, peter greste and ba mar mohamed were convicted of broadcasting false news and helping the outlawed muslim brotherhood a charge al jazerra denies. here say reminder of case, they were arrested in cairo on december 29th 2013. after a trial they were sentenced in june, peter and mohamed to seven years in jail, bahar 10 years. the trial and sentencing has been condemned around the world. in october the authorities in cairo announced judicial review, with a hearing of the case on january 1st. earlier this week vigils were held to

relatives of 36 people killed in a new year's eve stampede in shanghai are demanding answers.eople rushed to grab coupons tossed of a balconies because they looked like dollar bills. police say that did not cause the rush. >> translator: we were downstairs and wanted to move up and those who were upstairs wanted to be move down. we were pushed up down by the people coming from above. all of those trying to move up fell down on the stairs. >> reporter: officials say this was the worst disaster in shanghai in four years. >>> the ib investigation into the shooting death of a 12-year-old boy by police could soon be handed over to an independent agency. the thought the toy gun he was holding was actually real. cleveland police officials continue to collect evidence and conduct interviewed. >>> protests in southern california this week have centered on the case of a 25-year-old unarmed black man killed in a fight with police. the investigation is not over but the autopsy released this week shows he was shot three times, once in the back. america tonight's michael ohcue reports. >> r

>> a news celebration takes a deadly turn in shanghai. what sparked a wild stampede that killed dozens. >> growing frustration for family members of the victim of the airasia flight 8501. >> after spending more than a year in an egyptian prison, three al jazeera reporters are granted a new trial. >> ringing in 2015, the world's biggest and best news celebration. >> good morning, welcome to al jazeera america. >> while millions of people range in the new year peacefully, it was a trankic start to 2015 in shanghai. 35 people were killed, dozens more injured at a stampede at a celebration. >> someone dropped coupons out of a window that looked like money when it started. >> a night of revelry quickly turned chaotic. this is the skean of what started as a news celebration. the injured lie on the ground, run down in a stampede on the waterfront district. it started just before midnight. police are still investigating the cause. >> we were down stairs and those upstairs wanted to move down and those upstairs wanted to move up. we were pushed do

at least 36 people are killed in a stampede in shanghai. new beginning, he is open to talks with south korea. we check out the hottest tech toys for 2015. ♪ ♪ we beagain in egypt where the first day of the new year is offer add resolution for the three journalists who spent all of last year in a cairo prison. they have order add retrial that peter greste mohamed fatny will remain in custody. the retrial could get underway in a month, but there's no telling how long it could take. the journalists were not present when that decision was made, but the lawyers say they will seek bail for the three that were falsely accused and convicted of spreading propaganda. yeahle ma has more. >> . >> they never saw a minute of 2014 and the start of the new year, they remain imprisoned. despite an ael poos courtn't graying the retrial, they are still behind bars. the judge on thursday's session says it was not in his power to pant pail. >> we welcome the court's decision to accept the appeal, but at the same time, we demand that they are immediately release

shanghai, the most starbucks in a word shanghai. shanghai shanghai. >> shanghai. >> remember what schultz did, other guys had troubles in china. when he goes over he invites families moms and dads of the workers. he understands the culture. other guys could use a refresher on that. >> saudi arabia is in mourning, after the passing of king abdullah at age 90. joining us by phone, saudi prince alwaleed bin talal, the chairman of kingdom holdings. thank you for joining us. our condolences to you and your family. maybe you can tell us a bit about how your country and how you are reacting this morning. thanks for the call. yeah, today i just buried the late king abdullah and tonight there will be the big meeting of members of the royal family and members of the saudi community to come and pay their allegiance to the new king of saudi arabia king salman and the new crown prince prince. >> the king was known as reformer. he opened up the economy, doubled down on his relationship with the u.s. he got you into the world trade organization. what do you think will be his tru