do you norman i'm on the first stop shanghai. nice plant thomas straight to china's boom town in the deep end keep me updated. it's saturday night and in the priciest club in the city the local gents that celebrate themselves and their lives of luxury and excess. anyone who's anyone order champagne and not just the one bottle or two but happen doesn't dump earn your one naturally at a thousand dollars a pop. china's young nubile reached party hard most of them courtesy of their parents' money. later that night a jaguar pulls up on a street corner in the same town but a world away from exclusive nightclubs. wealthy young night owls may not be used to waiting in line but they're happy to do it here at this no frills fast food stall. choosing you in bed and will be here all night serving up as your child. at fifty cents a stick. i mean that your holiday with a good shouldn't taste oily it needs to be soft on the inside and crispy on the outside when you bite into it. something to eat it. like any other hit snack your child is refres

but down jus there are still signs of shanghai's culinary history.dumplings steaming on the sidewalk here. >> yes. this is your real neighborhood joint. >> reporter: crystal mo is a food writer in shanghai. she took us to one of her favorite spots for the city's most famous dish, shaolongbao. otherwise known as soup dumplings. a there was a line out the door. >> still in every neighborhood in shanghai. >> reporter: soup dumplings begin like most dumplings do. dough is roll out and pressed into little circles. the fiing, usually pork,s by hand, creating perfect dumpling dimples. a higher number of folds, up to 22, is considered a sign of a higher quality dumpling. but what about that liquid inside? >> it seems magical. i mean, when people come to china and they have it for first time, so is it injected? is there a hypodermic needle? how do you get all of that soup inside the dumpling? >> reporter: the soup comes from pork aspic, a jellied pork oil caught up in the soup mixture. when the dumplings are steamed, it liquefies, creating the distinctive sou

comic had to hike prizes in china and also says it's opening a new factory in shanghai all to escape donald trump's war of tyrants. and as the e.u. said to get even bigger europe's foreign ministers meet in london to discuss six western balkan states joining the block. your business is welcome it's only a week since the latest terrorist from china and the united states multinationals are already scrambling to readjust supply chains so that goods bound for the u.s. don't pass through china the first american carmakers are raising their prices on the chinese market to make up for the higher duties. tesla is the first american company announcing that it's raising prices in china the move comes in response to beijing's decision to impose tariffs on a range of u.s. products. china is the world's biggest car market and tesla cannot afford to be price dollars plans are already underway to build a factory in shanghai which would enable the company to avoid tariffs in the future . germany's b.m.w. is also planning to introduce price hikes in china that's because customers there buy s.u.v.s pr

you see them in shanghai and beijing.e's one of the galleries in shanghai sold 14,771 vehicles 14% of worldwide sales last year would love to increase that. keep in mind as you look at shares of tesla, the cost of a tesla model s in china is now gone up by $27,000 compared to a week ago because of retaliatory tariffs. while this is an important step, guys, it is going to be a long time before we see benefit to tesla in terms of production in china. >> all right phil, one question for you any battery production outside of use in cars expected from this factory green energy certainly an important topic over there as well >> reporter: it's a possibility, but they're not talking about that now they said with giga factories, they could potentially build batteries beyond electric vehicle, already do for energy storage, battery generation for utilities, john, so that's a possibility. >> all right phil, thanks >>> elsewhere in tech, entertainment streaming service philo expanding, offering a 40 channel package for $16 a month. th

the electrical maker announced today it will build a factory in shanghai china.is win is on that story. >>> tesla is coming to shanghai for the first time ever, chinese officials will allow a foreign auto maker to set up shop without a domestic company as a partner. a ground breaking deal which allows tesla to maintain full ownership of the facility as it plans to enter the world's vehicle market. in a statement, tesla ceo said it will be a state of the art factory and role model for sustainable. impressed by the beauty and engine of shanghai and want factory to add to that. shows executives signing an agreement to build the first factory outside the united states. it could eventually produce 500,000 vehicles on an annual basis. cars built there will be mainly for chinese market. >> china is hot bed for manufacturing. and financial district. that's where the money is. if you're looking for venture capital to support your plan, shanghai will be the right place. >> comes as american auto makers face pressure from the white house. looming trade war and tariffs down

. >> cars in shanghai as the first wholly owned foreign automaker in the country.ut analysts are questioning its funding plans. hello, from sydney come over it is just past 8 a.m., i am paul allen, and this is "daybreak australia." paul.d morning, it is just past 6 p.m. here in new york, i am a rain ramy inocencio. paul, it is not just what happened on wall street during the trading session, but also afterwards. after the close, we got the headlines that donald trump will finally release the additional list of $200 billion in tariffs on chinese products, targeted from the u.s. to china. this is clearly an escalation. he saw markets close higher earlier, and we will look at features to see what is percolating there. a couple hours before this, i could have just said hey, it was a great day. paul: yes, you could have, but there was always a spanner in the works toward the end of their. it is is expected as early as today, but certainly sometime this week, so that is something to watch out for. certainly never a dull moment , who issident trump also on his way to euro

that's right from not enough rain in in sweden to way too much on its way to shanghai let's take a look at the satellite picture then around the southeastern parts of china because you can see this the cloud is edging its way towards shanghai but it's not alone we've got plenty more cloud to the south and also to the far south as well this one has now given us reports of flooding in the northern parts of viet nam and there's plenty more rain to come there's another storm that's developing just to the north of luzon there that's already given a from flooding here and then there is the storm that's edging its way toward shanghai now is the one here that's going to hit first this one's edging its way towards the west already we've seen some rain in shanghai from the outer bands of the storm and we're expecting the aita more or less hit slap bang in the middle of shanghai at around zero g.m.t. on sunday so we are expecting a direct hit and fortunately the winds won't be too much of an issue they'll be around eighty kilometers per hour sustained winds it's the rain that's really going to cau

looking at the shanghai stocks down 20% from a january high. be having room for optimism. let's have a look at why things are not looking so bad and just onto the week that was. have a few other factors potentially at play that could entice buyers back to mainland markets. you have low valuations, a surge in buybacks and foreign thattors returning for china trading link. i want to show you are earning multiples for the shanghai composite. we are seeing it back below levels that we saw since honey 15. $1 trillion have been wiped out over the past two months. this could be one of those alluring factors for investors. shanghai composite hit those lows, that benchmark rebounded more than 10% over a three-month period. among the strategist seeing a rosy outlook, they have priced in the negative impact from the leveraging campaign as well as the trade war. the secondrebound in half. to see whether or not this might be the case is partner and obius capitals. the big question is, are we seeing a bottom from a man markets? don't think so. in the case of

shanghai saying have it at that moment or just has this it will kill a cloud doesn't look very much to think of the scale of the chart we're looking at here that was a tropical storm briefly typhoon came on land an awful lot of rain and winds strong enough to cause some damage and it may not be the last of the storms coming inland in this part of china but the immediate future. there is still a spinning storm vast amounts of rain just going inland to the north of shanghai and that's taken most of the energy at atmosphere so anywhere else is looking fine quite warm thirty three in beijing thirty eight in tokyo the heat wave continues in japan the deadly heat wave i have to say is quite a humid one as well and no significant relief in the next day or so cloud of course is spreading northwards and beijing but get the rain from the remains that's storm come tuesday shanghai is dry by that time still thirty six humid degrees not pleasant and this is the general area spawning these storms has once regenerated from what was originally over northern vietnam but to be also is at least two storm

the shanghai positive -- surgeon with positive territory. shanghai flirted with positive territory.tated in the asian session. 6.7 is the level that some said we may see intervention. some chinese major banks selling the dollar in the swaps market. as you suggest, very much alive with the conversation. these storm in a teacup, yuan moves. australian dollar against the u.s. dollar, we saw no change in interest rates. just checking on movement in that currency. manus: you have that slight bid from the equity market. havepro-quote is that you bond slightly better off. moment but this is almost a different story. waiting for the minutes. jerome powell could take the hiking error out of the market. with the curve invert? it's a real risk. i was speaking to various people who believe there's going to be a supply dilution -- supply deluge. that showing up in the key bell auction. 2.45 was the bid to cover ratio. there is a sludge of t-bills to come to the market. another 200 billion are going to come to the market later in the year. that's the state of play on the markets. it seems there i

car maker to high prices in china and also says it's opening a new factory in shanghai all to escape donald trump swore off tariffs. and a call for a complete. trade we talked to the man behind the petition saying no more poles . this is your business update it's only a week since the latest charges from china and the united states but national's already scrambling to supply chains to the good spell for the u.s. do not pass through china and the first american carmakers are raising their price on the chinese market to make up for the high. test is the first american company announcing that it's raising prices in china the move comes in response to beijing's decision to impose tariffs on a range of u.s. products. china is the world's biggest car market tesla cannot afford to be priced . plans are already underway to build a factory in shanghai which would enable the company to avoid tariffs in the future . germany's b.m.w. is also planning to introduce price hikes in china that's because customers there buy s.u.v.s produced at b.m.w. plants in the united states. the company manufactur

that helped spark the rally in shanghai stocks. these bond yields are climbing toward a one-month high as well. we math on a lot of potential for chinese stocks here with industrials and materials. they were many heroes. when it comes to stocks to watch today, i want to highlight this on the radar. this budget 2019 and 2020 earnings estimates did -- due to intense of u.s. penalties. ons is doing consultation dual pressures. that will begin later this month. they are situated takeover of a belgium. couldhinese oil giant surge profits 50%. has up, the trading has been halted after the rough ride for vaccine makers that have seen the company chairman detained by the police. manager says fund that this provides a bargain given the health care selloff. the fund management says the selloff will be temporary given that investors are overreacting and have strongly in the -- indicated this. meeting,i had of this president trump has tweeted that the eu and the united states should drop all tariffs, barriers and subsidies. he says the eu will

seen the shanghai composite, we have seen the nikkei gaining some today. higher. wall street doing reasonably well because there were gains in technology shares like apple, which helped offset some of those resource stocks that have been dragged down by oil prices. and that is it for this edition of asia business report. thank you for watching. you are watching bbc news. 12 boys and their football coach and synchronised days in a cave in thailand have been found alive. and the most senior catholic priest ever to be convicted of covering up child sex abuse has been sentenced to 12 months detention by an australia in court. —— australian. the prime minister has come under pressure to reveal more details about a possible new plan to break the deadlock over how customs will be handled after the uk leaves the european union. details have not been revealed publicly but senior ministers will discuss it on friday at chequers, the prime minister's country retreat. on monday afternoon theresa may made a statement to mps following last week's eu summit. 0ur political

we continue to see shanghai composite rally.e're just kind of racing for what's to come here. it's been an interesting couple hours. we've been talking to guests about what's to come. we've long telegraphed billions of dollars of goods that could slapped with tariffs. we talked to analyst as well. fu.avorite was john he's 20 year veteran, he's not touching these chinese stocks now. not with the trade concerns, lot of things going on now. at opportunities elsewhere. take a listen to what he had to say. permanent not a abandonment. this is a temporary avoidance. the largest economy in asia and cannot be ignored. equityfundamentally house in investment stocks on its fundamental basis. invest in stocks in a vacuum. >> right. opportunity like thailand and vietnam. perhaps economies little bit more stronger. to j.p.o bring it back morgan telling our colleagues, these trade tensions will be like ongoing back pain. it comes and comes back to cannd you how painful it get. we're looking at all these uncertainties. david: the companies can

shanghai remain top of the table.lian a—league side central coast mariners about a potential trial with the club. the eight—time olympic gold medallist will have a six—week trial with the club from next month, in a deal which could see him play for a season in the a—league. bolt has often talked of his ambition to play professional football and, since his retirement from the track, has also had trials with germany's borussia dortmund and stromsgodset in norway. just to recap, england beat india by eight wickets to win the third one—day international, claiming the series 2—1. you can get all the latest sports news at our website. that's bbc.com/sport. but from me and the rest of the sport today team, goodbye. hello there. well, depending on how you look at it, some lucky gardens have received some rainfall during monday and tuesday, but the vast majority of the country on tuesday was dry with plenty of sunshine around, some glorious sunset scenes up and down the country. there were a few heavy showers around across nor

to a hospital in the city of shanghai just a few hours ago there were saving medical care but are said to be in good condition the boys aged eleven to was sixteen years old spent over two weeks deep inside the cave living a nightmare after water sealed off there were turn routes the last week or sadly a tired diver lost his life in the cave while making preparations for the perilous rescue. mission which has come to a successful conclusion and the governor of chiang rai a province was clearly pleased with the success of this extremely difficult rescue mission they took in the no one thought we could do it but we did it it was a first for the world thanks to the thai people government agencies and the private sector. all right today daniel koch is standing by for you he is right outside that hospital where the boys have been whisked off to and are being taken care of daniela good to see i mean it's been just a her rule week rescue we've all been watching in trepidation but now the attention is shifting to the boy's health how are they doing. yes well exactly what i can share with you th

the shanghai composite tear had losses of 1.6% into the lunch break.ong kong in positive territory, as is the nikkei. a lot of this is factored in in terms of overall market sentiments. you have a late rally, but asian equities are on track for a fourth week of losses. it's been a hard week for asian investors. let's have a look at some of the stocks. samsung meeting estimates. m has an interesting piece on the bloomberg. is the third quarter in a row they have missed estimates. , this is forn 70% additional property curbs that came into effect that shocked a lot in the market. 19.5%,upside, eisai of and it has had a pretty good result for its alzheimer's drug test, jumping the most since 2015. we saw that coming on the nikkei, as well. anna: thank you juliette saly. the u.s. imposed tariffs on $34 billion of chinese imports. the levees target products like semiconductors and airplane parts. china responded immediately, saying it will be forced to retaliate. we are joined by china correspondent tom mackenzie. what is the latest in terms of what we are

copper in shanghai, off nearly 3%.s are saying there is no need to overstate the impact of this on china. advisor is saying uncertainly -- uncertainty before this u.s. list works. onid: this is all based chinois. china will continue countermeasures -- xinhua. china will continue countermeasures. greenback, why it is not the end. the theory out there is that the world's biggest economy will be the least damaged by the trade war. we have the australian dollar, canadian dollar, yan down -- yuan down, all countries heavily dependent on trade. we had this big rally in the bloomberg dollar spot index from the middle of april until the end of june. that was when there were all trade concerns going on. i think the dollar will be the initial beneficiary. rishaad: it has done well so far this year. is this going to renew concerns about chinese plans to arguably weaponize the yuan? >> yes. there are all kinds of terms around this. this is all due to a self evaluation of the currency. basedan is falling today, on a closing level a

shanghai is also in the plus column. mainland, a special trading period for hong kong, leading weighted voting structures before they are allowed to engage in southbound trading. let's get more on this. we are joined by our reporter. we are seeing xiaomi go up on this news. >> this is being read as good news for the stock. we are lacking on detail. thisn't have a time when will be allowed to be traded for southbound investors. >> so no specifics? >> yes. we have not had anything from exchanges on the mainland. there is a disparity between the one in chinese and the one in english. >> in chinese, the statement is a lot shorter and does not say class sharesthat will be allowed on the stock connect program. we are wondering if this was an oversight or if it said something about how each side saw this agreement. we are waiting to get a response from mainland exchanges. we see this as a fate-saving compromise -- faith-saving compromise. the ceo of the hong kong exchange went to shanghai on monday, a very last-mintuute flight.

that's working its way towards the west and it looks like that's going to hit very very close to shanghai as we head through sunday and then it will move inland of course once it's inland it will have lost its energy source so it will disintegrate fairly readily but still it's likely to bring us a period of very heavy rain that is likely to bring a sim flooding so there's that storm system then as it makes its way into shanghai there on sunday further south of also got a circulation here this one is the remains of it all of a storm that was hit doesn't look like it's going to develop into anything too sinister but certainly it's going to enhance the rains across this region a region that's already seen flooding and so there is likely to be more in the way of severe weather from monday to. the pressure is on the fifteen thousand people posing an imminent threat to israeli snipers yes they were horrifying but it's mainly diplomats hamas people not palestinian you'll get a right no no they are the same thing they're never done they are sending them to die it's a cultural traditions and when

shanghai within the past couple of hours. you still have another couple hours of extremely strong and gusty winds and heavy rain for china's largest city. 85 kilometer per hour sustained winds near the center of this circulation. the heaviest and strongest of the winds and part of storm just to the north and east of shanghai but nonetheless this area getting battered with heavy rain from this particular tropical system. i know we also have to talk about what japan has been dealing with lately. if you recall, two weeks ago they were dealing with extreme rainfall leading to flooding. now the recovery efforts are being hampered by extreme heat. tokyo has seen 30 degrees celsius or higher at least 26 times since the end of june. now remember, this area is you kplunsed by ocean current so there's a lot of humidity in the air so as you step out side it fools warmer. tokyo feels like 40 degrees, osaka in the lower 30s. you can see just how people are dealing with the heat. impressive sunshine and just extreme temperatures and a long

and securing an agreement with shanghai.he initial deal is a major development in tesla's effort to open china's first production facility that will be wholly-owned by a foreign carmaker. it raises the question of how they will pay for it. let's get to our bloomberg transport editor for asia. good to see you this morning. what is the cost we looking at here? >> there are various estimates, goldman sachs is saying this could be a plant costing $5 billion and that is a major question for tesla because the company had $2.7 billion of cash at the end of the first quarter. it has been burning through billions of dollars lately and are trying to ramp up production for its latest models, the model three. the company has not reported a profit in its 15 years of existence. so the cost will be a big question. he can go to investors who could give the company more funds through a capital increase that at what terms and what cost to shareholders? that if finance is our tight, cash is a big concern, why the urgency to expand in china? th

go that route they come from all over the country from sheen john chait john shanghai. beijing and even from the northeast we're in a favorable transport location which is good for business in every regard. was just ten years ago we were still in our home village but we moved to the city to make money when the economic reforms came. from the streets in living in a sign it is undergoing a radical shift particularly in the west of the country and inching jang all these cities being built in the desert are cities with skies great bows at the u.s. they are moving. and there's a lot of activity everywhere. lights and even music and color okey vos images that are war teeth of it that i look at there's the x. ray it's a message to the chinese population it is to attract people to these remote areas that there was the privileged and so offensive. to make it possible for people to move to the remote province of shame jiang or to trade their beijing has extended its high speed train along the entire new highway . the travel time for the two thousand kilometers between lunch show

it will be the biggest foreign investment in shanghai.ion for investors is how are they going to pay for it. i think you will see something similar to what they did in nevada with a partner like panasonic. you'll see someone step in there. i think those details will be announced over the next two or three months. >> president trump has arrived in europe ahead of a one-on-one summit with president putin. president trump said those talks maybe the easiest late of his trip. he also repeated his demand that nato members contribute a larger share of the budget. saying he is a competitor. global news, 24 hours a day, on-air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm jessica summers, this is bloomberg. jessica, thank you very much. the front administration has now pushed ahead with those plans to impose tariffs on additional $200 billion in chinese products by releasing a list of targets. this is an escalation of the trade war between the world's two largest economies. tom mackenz

in universities based in their home province they dream of a brighter future in such cities the shanghai or beijing hundreds of thousands now migrate every year to big cities. but the chinese economic system isn't quite ready to absorb all these young graduates. dong is one of them he studied bioengineering for four years in a college from his province today he makes a living from the jobs he dreams of working in the film industry he belongs to this new class of people that are educated but paul. show no hold libet you. are young you write your agent you tour our local paper now make our knowledge and they give you. fashion and. actually you know already down there and see they are all. going to hide it and chanute are one listener and she on the whole you. lead but you know how the war and the word to the house. and the ocean move change on the road she play even though it's a hundred or two on the she's in the hunt for you. and she. you're a woman. and you heart's all that you're in me. and you are. blondes i'm good you're a woman on the plane. and then through the journey and i'm kind

the shanghai, looking flat.d have had a bearing on how shanghai shares have fared, down 17% year to date. when you compare that to their 2% in 2018.parts, keeping and i on what is going on with the yuan, the offshore rate below that handle. as a are catching a bid domestic investors are filling riskier assets. chinese ions for the second quarter with the best-performing the 10merging bonds, and year yield is not too far off julythe low we hit on second at 3.47%, and more gains for chinese bonds check the pboc further ease policy. i want to check in on some stocks i'm keeping an eye on. this stock was downgraded to hold at hsbc. by 25%ce target was cut on higher cost concerns. the stock down 2%. , a pickup andi top and bottom line growth. gaining ground after posting a rise in the first half. we are keeping a night on casino stocks. this after morgan stanley said the recent slump has been overdone. on the bag with wynn front foot, while sands china is off .5%. haidi: thank you so much. kweichow moutai may be a go

tumor at midnight facts from japan and shanghai down 1%. gerri netflix test and a high-end subscription service with definition stream. but will people pay for it. "fbn:am" starts right now. cheryl: 5:01 a.m. in new york. thursday, july 5th, the day after july 4th. i'm cheryl casone. >> good morning. i am tracey carrasco and for lauren simonetti. drink your netflix is playing extra i will go ahead. a lot to get to this morning. a lot of this happening on your holiday. china says it will not fire the first shot in a trade fight with the u.s. beijing making the announcement is the u.s. and china prepare to impose tariffs on each other tomorrow. the u.s. has to hit china to 25% tariff on $35 billion worth of chinese products in china is due to retaliate same day with terrorists on an equal amount of u.s. export. cheryl: president trump telling maria bartiromo she is focused on straightening out the trade deal. >> would have a trade with china. nobody bothered to make a deal. l. church 25% for a card which urged to .5%. you've used the numbers

it will be based south of shanghai. it was approved on july 18 with registered capital of $30 million. but despite problems working in appearede registration to be removed from the government website later that day. hundreds of people are dead or missing after a dam collapsed in southeastern lower. the portion that collapsed was an auxiliary dam that was still under construction. -- the dams has been had seen three times its normal rainfall. is pulling thep plug on her fashion line. 18 months after stepping back from the company over claims of conflict of interest, she said the line is to be wound up. most of her products are made overseas, even as the president decried outsourcing. china granted the company trademarks. several stores have recently dropped the line. global news, 24 hours a day, on-air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm jessica summers. this is bloomberg. taking a closer look at the rally that faded on wall street, trading began wi

shanghai composite rebounded to play 5%. at the box office that was a disney weekend. >> maybe you just need someone watching your back. gerri: man the wasp does to the south of the weekend box office. i guess bugs are big money. we will have all the weekend winners. "fbn:am" starts right now. train 25:01 a.m. in new york. monday, july 9th. i'm cheryl casone. gerri: and gerri willis in for lauren simonetti. cheryl: a lot of breaking news. i have to tell you that second sequel to the ant man supposedly is hysterical. gerri: that's about my speed. cheryl: a lot of breaking news this morning. officials in thailand resuming the operation to rescue the remaining poison their soccer coach from a flooded cave. they lashed the region once again to replenish air tanks along the route. before they go into. 4:00 in the afternoon in thailand waiting for updates right now. >> boys have been trapped in a cave for more than two weeks. a diver died last week while preparing for the rescue mission. meanwhile, elon musk is testing a small tin

shanghai composite extending gains. we've got the shanghai composite up by 2%.g seng, stronger than earlier in the session. up, curve flattening goes global from the u.k. to indonesia. investors have been joining their u.s. counterparts in driving yield curves flatter. what that means for your portfolio. we will talk about that next. joinedoday, we will be by -- this is bloomberg. ♪ anna: this is "bloomberg daybreak: europe." 7:19 in london. let's get a bloomberg business flash with juliette saly. she is in sydney. microsoft's earnings report forecasted -- investors as it provided evidence the company can increase cloud sales and raise more profit while cutting into amazon's industry-leading. profit and revenue till the end of last month xt did analyst at -- exceeded analyst estimates as it did for cloud sales in the current quarter. looking tofund is invest almost $1 billion in china's group as it seeks a stake in the world's most valuable artificial intelligence startup. bloomberg understands the fund is still finalizing terms of the deal and the details could

it's shanghai. usual suspects always seem to get crushed when the trade war heats up and the developing list of winners that avoided being crushed by the shanghai express. the most important movie i could find with shanghai in the title. don in massachusetts, don? >> caller: how you doing, jim? >> i am doing well how about you? >> caller: i'm doing great, thanks jim, i'd just like to give a quick shout out the my fellow investors kevin and bill, whom are astute followers of yours. >> kevin and bill, hey, how are you doing, chiefs? what's up? >> caller: okay, jim, as you know, marvel sells chips used in networking applications. to compete against juggernauts broadcom, qualcomm and intel, marvel acquired cavium -- >> networks last year. also marvell executives are promising an aggressive 150 to 175 million cost energy target by late 2019. >> right >> caller: but with the escalating trade wars and all, i do have a major concern. >> okay. what would that be, sir? >> caller: much of their revenue is gene

in universities based in their home province they dream of a brighter future in such cities the shanghai or beijing hundreds of thousands now migrate every year to big cities. but the chinese economic system isn't quite ready to absorb all these young graduates. dong is one of them he studied bioengineering for four years in a college from his province today he makes a living from odd jobs he dreams of working in the film industry he belongs to this new class of people that are educated but pull. your. shell no old live bait you didn't mention. your routine to do or our local how they are coming on knowledge in that you. are surely our higher our younger and see that you are all you are. going to harder than your listener and she got on the whole you can go. to her leper you know harder and. to the house. and the ocean move change on the road she play even though it's a hundred or two on the she's in the one for you in it. and she. you're a woman. and you heart's all that you're in me. and you are. going to do a woman on the. journey and i'm kind and you're very good called me kenya you

>> we are going to start flying to shanghai. we've invested several years ago the shanghai-based carrier in all of china and it's going to be truly one of the commercial capitals of the world within asia and our opportunity to work alongside them is going to be meaningful. >> let's talk -- i have one more question. [inaudible] on the test questions. >> do you know all the answers. you have all the answers. in october 2016th dennis boylan berg said his company is working on a long-term r&d prospect to increase the jet aircraft to mach six, which is 600 feet of ground, which you know. >> we don't own any of those. >> that would enable a flight from new york to beijing in just a few hours. what are your thoughts on this and how realistic and how soon? >> i think the question would be coming in know, we've seen already the concorde didn't work for lots of different reasons. one of the challenges with the technology and while i think that's great innovation in there will be a market segment that desire to the question is the market s

universities based in their home province they dream of a brighter future in stocks that is the shanghai or beijing hundreds of thousands now migrate every year to big cities. but the chinese economic system isn't quite ready to absorb all these young graduates. dong is one of them he studied bioengineering for four years in a college from his province today he makes a living from odd jobs he dreams of working in the film industry he belongs to this new class of people that are educated but paul. told live beijing. i do everything to do our. part i'll make on the watch and i get. really. award down there and see that you get. to go on the harder it is when you're. on the whole you can. lead but you know. change on the. plane you know it's. so that. you're a woman. and you. and your. group once. you're into the journey and. called me do you walk on them being i don't do it too or do you do a hard hit area beyond oh boy if. you are doing them in your quiet quiet manner your cheating in some cooked how it should do their dirty can injure or that. you moved your way to. being in the. rule on

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cities the shanghai or beijing hundreds of thousands now migrate every year to big cities. but the chinese economic system isn't quite ready to absorb all these young graduates. dong is one of them he studied bioengineering for four years in a college from his province today he makes a living from odd jobs he dreams of working in the film industry he belongs to this new class of people that are educated but paul. either it didn't you do or. are. on the watch and i get. really. bored down there and see that you get. to go on the harder it is when you're young or and she got on the whole you can go. but you know how the war and the word to the house. and the ocean move change on the road choo choo play even though it's a hundred or two on the she's in the hunt for you. and she. you're a woman. and you heart's all that you're in me. and you are. blondes i'm good you're a woman and the pain that. led to the journey and i'm kind and your you called me do you walk on them be i'll do it too or do you do they have their have be our lawyer. or leave them in your quiet quiet manner y

gerri: in china shanghai composite jumping 2%. of potato ships, lobster chips, chesapeake chips, yum, yum, get the beer right now. s&p begins right now. ♪ ♪ gerri: it is nearly 5:30 a.m. in new york, good morning i'm gerri willis in for lauren simonetti. adam: good morning, i'm adam shapiro in for cheryl casone. gerri: you may see politicians during vacation. one democrat in particular is getting a lot of attention, new york's alexandria ocasio-cortez is joining vermont senator bernie sanders this week stumping for other left-wing candidates. this even as the 20-year-old democratic socialist star's rising profile continues to rankle some democrats. >> if the victory of ms. ocasio-cortez in bronx and queens is taken as a direction of which the democratic party should go nationally, democratic party is not going to look to president in 2020. >> joe lieberman voicing that far-left democrats might fracture their party. caprie, i will start with you, are we going far left? >> i certainly hope not and i don't think so. i think the circu

fox and shanghai up 2%. gerri: in sun valley idaho, the bidding war for sky news. the report. two in seven starts right now. 5:01 a.m. in new york. good morning. i'm gerri willis and for lauren lauren simonetti. cheryl: good morning. i'm cheryl casone. gerri: day two of the nato summit in brussels. president trump arriving for the next round of talks. yesterday he lashed out at nato allies demanding a double military spending while at the same time questioning nato's value. the president's most directed attack aimed at germany. here is late-night treats. presidents tried unsuccessfully for years to get germany other rich nato nations to may more -- pay more. the u.s. pays tens of billions of dollars, too much to subsidize and loses big on trade and on top of it all, germany started paying russia come in the country they want protection from come of billions of dollars coming out of the new pipeline from russia. all nato nations must meet their 2% commitment and that must ultimately go to 4%. cheryl: german chancellor angela merkel shooting back saying that germany is the secon

today were learning that shanghai tightness rules on home purchases by companies.to highlight this, green chemical spill maker sliding, a report that samsung has selected a chemical company to provide component first new phone set to be released early next year. david: thank you so much for pointing what is down and down a little bit. bitcoin, the price of a five data. still of 7% for the week. it has rallied since the start of july and the second half of this year. the do's recording market had lost about half its value since early may. market hadtal coin lost half its value since early may. a simple question, is this rally for real? >> that's a question we've been tossing back and forth all throughout this year. we've seen multiple times where bitcoin has fallen off. it will hit a resistance level and then it bounces back and treads along at that price level and then comes back again. the price were talking about now is the level we saw reached after were dropped past 7000 couple of weeks ago. it were talking about getting back to 6600. understandably, investors

fast growing megacities are at risk kids for example the pudong district in the chinese city of shanghai in one thousand nine hundred was mainly farmland now it's a finance and high tech hub and home to over five million people. entire island states such as the maldives are at risk of being swallowed by the sea. rising sea levels could make climate refugees of more than half a billion people worldwide. coastal flooding can destroy farmland by making it too salty deserts growing not only because of rising temperatures they are all seen used to be the fourth largest lake in the world until water was diverted for irrigation now it's almost completely dried up in africa over grazing in the sun hell has destroyed much of the soil the region subsistence farmers are struggling to survive. with. more than a fertile land surface is desert and many deserts continue to grow. ever more forests are being cleared every three seconds one hundred trees lost that's the rate at which deforestation has been going on in the amazon for the past forty years yes that's right one hundred trees felled or burned

yvonne: seen the shanghai composite both of 2900.3500 there, do more upside there for equities? what is your year and target now? frances: for equities, we are only looking at a very micro-effective. i think one thing we can look at, one perspective is to see which products or which sector has a higher or lower .. even with the tariffs, not all trade with the loss. it really depends on the consumers and also the competition. it comes with how much vertical integration is. take up thisg to list of they want to trade directly with the u.s.? yvonne: thank you frances appreciate your time. do not forget our interactive tv function for bloomberg subscribers only and shigella tv . -- check it out at tv . this is bloomberg. ♪ yvonne: this is daybreak: asia. ramy: let's do a quick check of latest business flash headlines. qualcomm is said to be in china for less money talks. chinese regulators haven't an taking apart for the last few days in the deadline for the deal expires at midnight on wednesday. qualcomm's interest was announced

." >> tesla has plans to build act y in shanghai.ctric carmaker's planct ex to produce 500,000 vehicles a year some time in the next decade. they reveal that teg sla'seo elon musk is in agreement. shanghai is tesla's second biest market after the united states. >> cnbc is out with the annual raing of the top states for business. all 50 states were ranked for competitiveness. outwas thi utah was third and it faced underfunding for its schools. washington sta came in at number two thanks to the solid workforce, but high costs were , negatiut the top state for business is texas, helped by rising energy p tces andhe job growth that goes right with that. scott cohn is in the lone star state for us tonight ♪ >> year after year, from the hill country to the gulf coast, no s has more of what it takes to compete than texas, america's top infrastructure. >> this is the energyit c of the world. >> ready access to capital and a culture of innovation, but this year texas has something else. >> a prop rightour here. >> yan see it at the mulberry c

universities based in their home province they dream of a brighter future in stocks that is the shanghai or beijing hundreds of thousands now migrate every year to big cities. but the chinese economic system isn't quite ready to absorb all these young graduates. dong is one of them he studied bioengineering for four years in a college from his province today he makes a living from the jobs he dreams of working in the film industry he belongs to this new class of people that are educated but paul. your view is show no hold live beijing for. you either it didn't you do or our know for how they are coming our knowledge and i give you. any higher or younger and see that you have or you're. going to harder than your listener and he. on the whole you can. lead but you know how the war and the word to the harsher. and yoshimi would change on the chee chee play even though it's a hundred or two on the she's in the hunt for you. and she. you're a woman. and you heart's all that you're a me. and you are. blondes i'm good you're a woman on the plane. and then to the journey and i'm kind and you're