prices over the $25.00 companies listed on the brand new shanghai's stock exchange stock market more than. one company a 400 percent of. the price of oil has risen by over one percent in the past hour the market is reacting to the worsening situation in the persian gulf brant crude prices climbed $0.88 to just over $63.00 u.s. dollars concerns that iran's seizure of a british tanker last week may lead to supply disruptions british government will discuss countermeasures on monday solution is not yet in science. corresponded to delaying the end frank oil is up would you call it that but rise dramatically. so while prices are up today as you said it's about 2 percent for the day and they also rose on friday about one percent but there is a lot of concern there's a lot of questions about why the reaction hasn't been more dramatic a lot of analysts are a bit surprised that we haven't seen a bigger and create. this place where the seizures have been happening where this conflict with iran is happening the strait of hormuz is extremely important for the global oil market where about 20 per

china's new stock market some $25.00 companies began trading on the new nasdaq style tech board in shanghai with one logging a 400 percent advance what china expert clifford coonan tells us more about that. also coming up germany's economy minister says brussels could scrap duties on key u.s. industrial exports to avoid a war of tariffs between the e.u. and the u.s. . a welcome to the business asia berlin good to have you with us now then trading on china's new nasdaq style stock exchange got off to a stick tacuba start today share prices soaring one company angy microelectronics technology jumped by more than 400 percent a so-called stock market is part of china's attempt to assert itself as a global tech leader $25.00 companies from i.t. and other sectors listed on the new tech board which is operated by the shanghai stock exchange china has the world's 2nd biggest equity market behind the u.s. but it's been criticized for high levels of speculative activity and a lack of governance. lots to talk about and i'm happy to have a reporter cliff it couldn't here with me in the studio who knows

white shanghai?n located in shanghai, why not vision, what you're reading? two reasons, it has some symbolic significance, that's where richard nixon signed shanghai communicate back in 72. history there. that put the us and china on a path to normalisation of relations and the second reason, it downplays the significance of the talks, instead of being high politics in the capital beijing which makes it ha rd to move the capital beijing which makes it hard to move ahead, shanghai is the centre of business and commerce and makes it much more feasible to have practical, small steps forward. very interesting, duncan, good to talk to you, thank you so much. let's take a look at some of the other stories making the news one of the uk's biggest business groups is warning that neither the uk nor the eu is ready for a no—deal brexit on the 31st of october. the confederation of british industry has published practical steps it says the uk, eu and firms can take to prepare for brexit. yesterday, the minister r

/china trade talks in shanghai. more than 16 months into the trade war, between the two world's largest economies, we have a far-reaching global impact. the trade dispute has put the hurt on both sides of the pacific. china markets will open tonight at 9:30 p.m. eastern time, but this morning, they closed mostly lower, despite the cautious optimism ahead of the renewed negotiations, possibly because president trump tempered chances of a breakthrough by saying on friday afternoon that china may hold out until after the 2020 presidential elections before agreeing to a deal. to blake burman in d.c. blake, some think the president needs to deliver a trade deal with china before the elections in a way that soothes his base, some of whom are suffering due to the tariffs. reporter: there's the political equation of the president potentially needing a trade deal before the election, but president trump made it seem on friday that might not be the case, and that's why there's not very many expectations or at least a part of

and other sectors and missed it on the new tech board which is operated by the shanghai stock exchange china has the world's 2nd biggest equity market behind the u.s. but it's been criticized for high levels of speculative activity and a lack of governance. lots to talk about and i'm happy to have a reporter cliff it couldn't here with me in the studio who knows china and who is take a closer look at this new take a market and mazing launch to the stock market what explains such success on day one well it's only 2015 that we there were billions lost and investors really took a pasting back in china so what we're seeing now is a very significant event in that way and it's only it's basically grossest in on the ground right now so people are looking for places to put their money and i think that when you think that since donald trump came to power 90 percent of direct investment from china into the u.s. has gone so this money is looking for a home and i think that the stock market is very much the home it's going looking for well today a lot of money found a home that is how sustainable

and china is getting underway in shanghai it's the 1st face to face discussions since the kosi asians collapsed back in ne washington and beijing has so far hit each other with punitive tariffs covering more than $360000000000.00 in 2 way trade the u.s. accuses china of unfair business practices including faith of intellectual property a few days ago trump threatened to pull rick recognition of china's developing nation status of the world trade organization prompting and irritable reply from beijing about the quote arrogance and selfishness of the united states. well for more on this fresh round of u.s. trying to trade negotiations i'm joined by richard mcgregor senior fellow at the now institute in sydney good to have you with us and i understand that you know the political scene in china very well you've written a book about chinese premier pain and the tone between the 2 sides is not exactly friendly these days what's at stake for she and his leadership well i think she and the rest of the chinese leadership have come to a conclusion that it's not really worth they go see i think

china trade negotiations resume and shanghai are we heading for a breakthrough our experts now. welcome to business live from berlin i want to get jones good to have you with us it's an exist but for some big names it's also the season of bad news german chemicals company bias as it is unlikely to achieve its profit goal for this year and the reason the company says it's now facing more than $18000.00 legal cases in the united states over a herbicide that's alleged to cost can set by i gave an update on the numbers as it posted its financial figures for the 2nd quarter. has been the subject of protests around the world in recent years perhaps like life or saying it is causing by a major headache but thousands of people in the usa the effects of the chemical for them has been even worse the weight of lawsuits have fallen on bias since its $87000000.00 takeover of monsanto the maker of weed killer round up which contains life a site in the 1st handful of those cases to go to court juries found in favor. of those who claim the chemical gave them cancer and awarded them huge compens

china trade talks are happening in shanghai right now. while we are getting very few details out of those talks, we are getting a lot of details from the white house from the president, who is clearly thinking about these talks today and he is clearly upset about the lack of agricultural purchases from china, which is a little bit surprising because we have reported, about four weeks ago, and chinese state media has reported that beijing would not move forward with any purchases u.s. companies get licenses to sell to wall way auwei.ha some briefing has gone on at the white house or he has gonorrhea from shanghai, but he is clearly upset today. david: does the white house want to deal? tweets, heident's warned that sleepy joe biden like get elected and he will be tougher if he gets really did. -- if you get three elected. do the chinese want a deal? jenny: we will see that if it gets down to the wire. there's a new player on the chinese side, the commerce minister. i think waiting out a u.s. administration is an old chinese tactic. we have

trade talks are set to resume in shanghai this week.irst face-to-face meeting since discussions broke down three months ago. two days of talks are scheduled to begin tomorrow after jinpingts trump and xi met last month. it neither side really seems willing to compromise. this. get your take on how important are these trade talks? and if you consider how likely they are to reach out, how likely are they to reach conclusion? how does this affect your strategy? probably pricing into market at the moment, trade talks continue. we won't have an agreement anytime soon, but this will continue on a path. forecasting in the of.-china trade war with 10% the remaining chinese imports into the u.s. we think that this could pose particular in the asia-em space. the high-yield currencies are less affected and will likely be more insulated. high-yieldere is a environment for the russian ruble to be able to outperform in an environment where the global central bank is easing in the second quarter. matt: what kind of run do you think those two can make?

shanghai shares of lowered by close to 1%. shenzhen and the chinx, i the liquidity is getting sucked out. , the liquidity is getting sucked out. unofficially, what we have done at bloomberg is put together our own it in-house custom index. it is based in market cap. overall, we are up about 75% today. you do see why that is happening. happening. are up overe names some cases.300% in we knew it would be a good day. it's really how sustainable this two, month 2,day 3, month four, month five. all about losing the valuations. we are in triple digits. about the stock the stock valuations. not the helpful names that most investors are familiar with. going to read on your terminal here at the moment. let's get you caught up with the first word news with paul allen out of sydney. paul: more doom and gloom for exports in the first 20 days of this month a fell 14% from a year earlier. semiconductor sales plunging 30%. china with the biggest buyer of south korean goods, fell by almost a fifth. this insight into july's data comes after fi

on the shanghai comp? >> at the beginning? like april. >>>> they will try, but failed just under those. 3500, right? david: 3300. >> i think about 3000. 30 farad zero is a good level to stop. david: generally speaking, where is a good place to stop? on top of the assets, is there anything on your reader? -- on your radar? >> the noticeable pair is short korea and long australia. australia has been a safe haven bit. the bank is where people run to for yields. . they are doing well. they have hit all-time highs. whereas korea, slowing growth, problems, the korean won much weaker than any other currency in asia. i see weakness in malaysia. singapore i think has been strong. i am shorting that as well. yvonne: and record highs for the asx. pretty close to it. stay with us, more from thomas schroeder, chart earners founder and md. we will look at india. a lot more ahead. this is bloomberg. ♪ get you a quick's check of the business flash headlines. yft shares hit the skids as the company announced the departure of its chief operatin

and china is negotiators in shanghai. what do you think will happen well i think their meeting in shanghai which is kind of significant itself we've just seen a new growth market opening there a growth stock market so there's just certain symbolism about it being in shanghai rather than in beijing showing there is going to be a business like approach i don't think we've been sort of already told not to expect too much from the talks that they're going to recess where they left off in may when the talks broke down in the meantime quite a lot has happened but we haven't really seen that much in terms of concrete developments so i think they're going to try and get to know each other again a little bit and then maybe look at these 2 sides and see what direction they want to trade talks to go but the political aspect is still very very strong both on the chinese side which doesn't want to show any weakness on the u.s. side which is very keen similarly not to show weakness and also to try and lord its economic strength over th

they will travel to shanghai with little expectation of a breakthrough.ave been mixed signals from both sides with neither showing much inclination to compromise. china indicated readiness to buy more u.s. farm products, but its purchases of soybeans have fallen to the lowest in decades. at least eight people were killed in a series of earthquakes in the northern philippines. the tremors struck a province with scion -- seismologist reporting 200 aftershocks. the government promised three quarters of $1 million of aid with the president describing the area as one of the most treasured destinations in the country. china's top hong kong policy office will give its verse response monday to the continued escalation of protests in the city. the weekend saw more mass demonstrations in multiple locations including violent clashes with police that continued late into the night both saturday and sunday. 49 people were arrested and what marks an eighth straight weekend of protest activity. global news 24 hours a day, on air and @tictoc on twitter, powered by more th

we will have more on the launch of shanghai's star board.g kong protests turned violent. we will ask where things stand now later this hour. paul: next, we will be live at the shanghai stock exchange counting down to the 25 companies on their new tape board. this is bloomberg. ♪ ♪ kathleen: this is "daybreak: asia." i'm kathleen hays in new york. paul: i'm paul allen in sydney. the big story investors watching today, shang has nasdaq style take board goes online in 19 minutes. it has been dubbed the star markets and will play a role in taking listings back home. selina wang is at the shanghai stock exchange. what can we expect today? i am here the shanghai stock exchange. a lot of excitement behind me. there is a board that is showcasing the top innovation that these companies are showcasing. i moments ahead of the opening ceremony where 25 companies will be listed out of more than 100 that have applied to be on this tech board. we are expecting a burst of activity when the trade starts. on average, demand for retail investors has outstrippe

trade talks begin in shanghai, coming down to the fed rate decision.he president says a small cut will not be enough. april takes off on a forecast that will top expectations. tim cook says he is thrilled to the return to growth. shery: later in bloomberg technology global link, we will break down apple's earnings with bloomberg intelligence. first, a quick check of how the markets closed tuesday's session. another day of losses for u.s. stocks. a mixed bag of corporate earnings. procter & gamble rising on earnings. this coming at a time as the fed starts its meeting. president trump did not help market sentiment when he lashed out at china saying it was ripping off the u.s. late market trading, we did see the sentiment recovery as president trump said he recently spoke to chinese president xi jinping. the s&p 500 fell three chance of 1%. the nasdaq down a quarter of a percent. interesting to see small caps outperformed large-cap sweet the dollar held near a two month high. u.s. futures gaining 1/10 of 1%. let's see how we are setting up for the asian

she looks quite sweet she's from shanghai says matchmaking. her parents are civil servants. james wang owns an apartment and a luxury car impressive status symbols here if you have a better car maybe you have a better chance to to find a woman but for me i wouldn't i don't want to take this into this this path because i would like to find the right woman no woman or girl not just a value me for these things i have but more likely my person. about $200000000.00 chinese are single the pressure to marry can be intense but people are choosy especially when it comes to money often love is not enough. financial security love is wishful thinking and. your financial status is a requirement. of course it's not the only thing that counts but it is a factor. for well heeled clients the match makers will keep looking for as long as it takes the agency success stories line the halls trophies in the hard for chinese marriage market. at this park in shanghai matchmaking takes a more traditional form parents are here on their children's behalf the notes on the umbrella's brag about their ch

and other sectors listed on the new tech board which is operated by the shanghai stock exchange china has the world's 2nd biggest equity market behind the u.s. but it's been criticized for high levels of speculative activity and a lack of governance lots to talk about and i'm happy to have a reporter clifford couldn't here with me in the studio who knows china and who is take a.

-- in shanghai. the mood music has been made positive, talking to some of the biggest firms, saying we can look again at buying u.s. soybeans. >> joe, we have heard strong words from the fbi director. steal china is trying to its way to economic dominance. saysstifying today, he there are more than 1000 intellectual property theft cases the fbi investigates. most have led back to china. various ways of getting the information, both through espionage, as well as feeding back to china information from chinese students, chinese scholars working in the u.s.. working with u.s. companies. he said it was widespread. the biggesta is counterintelligence threat to the u.s.. he was pretty adamant that is a major issue for the agency as they investigate these claims. the central bank governor has been talking about the economy. what has he been saying. -- there isgovernor a major focus on what the fed does next. the assumption there is going to be a cut by july. what that means for china has been a focus. we spo

delegation arrived in shanghai weiwei and they answered its financial results for the 1st half of this year showing that revenues increased 23 percent despite that blacklisting from the united states the longer term outlook not so good for a while away it's it expects that its revenue will take a hit in the longer term and its already announced that it is cutting some 600 jobs in the united states so it seems certain that the issue of while away will be discussed while these 2 sides meet in shanghai. democrat party politicians hoping to replace donald trump and the white house are gearing up for their 2nd televised debates they are sure to focus on trump's recent string of racist tweets while also trying to explain their fish for the country john hendren reports from destroyed it's where the debates will take place later on tuesday. it is a battle for the future of the democratic party this week's democratic presidential debates pits safely centrist candidates led by former vice president joe biden against the party's revolutionaries senators elizabeth warren and bernie sanders i want

you kn eunice yoon is in shanghai. >> reporter: china unveiled its own version of the nasdaq today. it is meant to lure listings away from new york and hong kong here to shanghai. 140 cnese startups making everything from lasers to solar cells have applied for the board with 25 going public today. it's seen as a big step toward pital market reform here and solves two big problems for chinesestartups. the ipo rules have been so strict that companies that don't make money choose to go to the nasdaq and venture capitalists who have been scared of investing in chinese tech now see a clear way to get tir money out. chinese firms that l t on the star don't need to prove that they make profits. the government plays a small role in the ipo approval process and stocks are traded more n freely. forevestors can buy in on a restrted basis. i spoke to the chairman of one r stp who said he hoped more foreign investors would eventually take part to professionalize the exchange. for now most international fund ma say they are steering clear with the stock pricesti s vo most of the stocks ended high

team will be in shanghai through wednesday.ly, they negotiate in beijing, but this time they are going to shanghai. this was expected. we had heard of that secretary mnuchin and ambassador lighthizer were holding talks with their counterparts. we have seen more favorable coverage of the talks from chinese state media, talking about the potential buying of agricultural goods from the u.s. also, we saw some developments with the white house, in the white house, with tech companies yesterday talking about the huawei.f or for shanghairs will go to through wednesday, according to people familiar with the matter. 500,w big jumps on the s&p up 6/10 of 1% at the moment. this is bloomberg. ♪ shery: -- amber: this is "bloomberg markets." the u.s. senate banking committee is meeting today on banking in cannabis. analysts will be watching to see how receptive congress will be in terms of enabling financial services further pot companies. many companies are forced to operate on an all cash basis because of a fear of federal sanctions. we wi

-china trade talks in shanghai. the nikkei up, no change the boj policy, but they did cut the gdp and inflation forecast. we have seen movement into the yen. the hong kong hang seng index up after yesterday, falling the most in six weeks. insurance stocks today, and good buying in a lot of chipmakers as well. was looking at the australian market, it is getting close to a record high. level wet the highest have seen since the index was created in 1992. just try to work out on the close if it will be a record, it is looking like it. this is my chart showing we are starting to see a little bit of resilience in terms of the protests in hong kong. this yellow line back in april is only saw record highs on the hang seng. that red dip is when you saw the bulk of the protests in june that got national attention and we saw a quite a bit of selling. yesterday there was quite a bit of selling in hong kong markets as well. investors are not as resilient to the protests. the longer the protests go on, the more likely foreign com

trade talks in shanghai. of negotiations, the expectations have been ratcheted lower by both sides and they are not really at the moment signaling that they will be getting a break in this latest round of negotiations. this is bloomberg. ♪ we're the slowskys. we like drip coffee, layovers- -and waiting on hold. what we don't like is relying on fancy technology for help. snail mail! we were invited to a y2k party... uh, didn't that happen, like, 20 years ago? oh, look, karolyn, we've got a mathematician on our hands! check it out! now you can schedule a callback or reschedule an appointment, even on nights and weekends. today's xfinity service. simple. easy. awesome. i'd rather not. ♪ gentleman that likes raising interest rates in the fed. >> if we had the fed we would be like a rocket ship. gentleman that loves quantitative tightening. us down,lly floats there is no inflation. we are paying a lot of interest in it is not necessary. >> we have a gentleman who likes a very strong dollar. >> we are not playing o

take a look at the decline for the shanghai composite.ething to think about tactically, but anyway you slice and dice it, a great year for stocks. dragging today on the s&p 500, downgrades.niper on ell at rosenblatt for apple. tap andngrading both in juniper networks uncompetitive fears. up year, but a bit of a down day. vonnie: thank you for that. i,ill with us is jim cielinsk janus henderson global head of fixed income. in turkey, the central bank governor was dismissed, another move by aird want to take control over monetary policy -- by erdogan to take control over monetary policy. what looks attractive there to you, or does this make them uninvestable? jim: i don't think we feel a lot of value in those markets. i do think central banks for the most part remain independent, and that is true in the u.s. as well, but i think when you don't have those qualities, it does make investing really tricky. i think you get regime shifts, big jumps in volatility. i don't think you are paying for that at current valuation. in general, that is some

joining us out of shanghai today.g up, we will talk about a reporters going chart to chart and we are competing. we're talking about the battle of the charts. this is bloomberg. ♪ david: probably our favorite time of the day. it is the battle of the charts. we are going to have our reporters go head-to-head against each other. before that favorite segment, we have something to tell you about iron ore. yvonne: prices continue to see if all out of singapore. you talk about the global growth concerns that the imf laid out. but it had a lot to do with vale . they are restarting some of their capacity, so that is waiting on the supply side of things. 100, butill well above we are seeing a down day when it comes to ore and will continue watching that one when it comes out. david: stay tuned -- stay tuned for that interview coming up. we are going to get to the battle of the chart. with melissa? what are you go first? is why don't you go first? >> you are going to like this if you are a music fan. there is a bond backed by t

the latest collection by an american top designer is being presented to selected guests in shanghai.ne of the vip's here is wenjun lau. she's not a film star or a pop icon. she's a kokol, a key opinn leader in social media. in other words, she's an influencncer in the fashion sector. >> kols have advantages. we're fafast, we work with our cell phones and can immediately post what we see. and we have a closer connection to our audience because we're here privately, not for a company. >> she studied design,n, and hr photos and comments on social media have made her a style icon. she has hundreds of thousands of followers. wenjun lau sometimes gets paid for attending events, other times she comes along as a guest. she chooses fashion shows that suit her style. she wants to remain credible for her fans, she says. after an hour, she's off to her next appointment. the influencer travels to fashion capitals all over the world, but she finds shanghai the most exciting. >> fashion in europe is very advanced, but the pace of change is slowing down. we're quite pleased about that here in china.

shanghai head of more formal discussions. presidentdes met as trump lashed out at china saying they do not live up to their word. he posted an angry tweet saying there has been a promise to buy more u.s. farm produce, but no apparent progress. he ended by writing that they did not come through. british oil giant bp said it is enjoy -- avoiding sending ships through the straight of hormuz, because they could be seized by iran. load iraqin plans to crude and took shelter off the coast of saudi arabia. the company fears the vessel could be a target. a british warship had to intervene to ensure the tanker safe departure from the persian gulf. >> we are going to be externally careful. we have had concerning incidents. right now we are certainly not sending british cruise and should dips into the persian and ships.ews about a hundred million people in the u.s. are legally access. prosecutors accused the woman as breaking into the cloud. capital one said 6 million people in canada were also hit by the breach. do you think a robot co

now the s&p 500 is leading the shanghai composite as the shanghai composite starts to turn down.t is worth keeping an eye on because if it is an early tell, it may suggest there could be some weakness ahead for the s&p 500, or at least continued flatlining. vonnie: thank you. prime minister theresa may is leading a meeting to discuss shipping security in the persian gulf after iran seized british oil tanker in the strait of hormuz last week. we also have reports of 17 people young held and potentially executed by the regime. bloomberg'sd by correspondent on international security coverage. what do we know about how many people are being held by iran, and what is proposed to be done with them? reporter: largely what we know is what we heard from the iranian side. there are 17 people they are accusing of being linked to some sort of cia spy ring, and that they have all been scheduled for capital punishment. the u.s. is of course denying it and will never really admit to any sort of espionage activity, so we are not going to have a lot from this side on that. it is the latest sign a

mark: united states and china have wrapped up trade talks in shanghai. the u.s.all the session productive and said china confirmed its promise to buy u.s. farm imports. the next round will take place in september in washington. democratic national committee chairman says president trump has the wrong idea when it comes to trade and tariffs. he spoke with bloomberg's kevin cirilli following the first night of the second democratic primary debate in detroit. >> this president, because he is so scattershot, because chaos is their strategy for everything, rather than simply focus on china, which is where our fire should be trained, you end up having tariffs against canada, mexico, and europe. what that does is increase the cost for everyday americans. boris johnson met political leaders and northern ireland where he faces two challenges -- restoring the belfast government and finding a solution for the irish border after brexit. northern ireland is key to secure britain's departure from the eu and is likely to be one of the hardest hit areas if it goes wrong. sudanes

team has to shanghai while sticking to its redline.ombine with a move which could trigger more consolidation in the financials -- in the pharmaceutical space. welcome to bloomberg on this monday. david westin has a much deserved day off. in the markets, do not expect any dramatic trading ahead of the fed rate decision on wednesday. as in be futures only up two after closing on a record high friday. euro-dollar is 1.11. abruptly stronger dollar. stronger dollar. fruit going nowhere. time for your morning brief, a look at the busy week ahead. today u.s. trade representative robert lighthizer and u.s. officials traveling to china for the first-rate meeting since may. tuesday, the boj rate decision and earnings from apple and bp and wednesday the fed rate decision along with chair powell news conference. thursday, the bank of england rate decision as well as earnings from barclays and general motors. friday we get general earnings from exxon as well as chevron. u.s. trade negotiators heading to shanghai to resume trade talks three months a

all this before his trade team heads to shanghai for more talks with china.lake burman at the white house with more. blake? reporter: a lot there. just 2:00 on monday afternoon as we begin our week over here at the white house. for the third consecutive day in a row that the president continues to take to twitter to attack the head of the house oversight committee, the democratic congressman from baltimore, elijah cummings. the president, for example, saying on twitter earlier today, of baltimore and cummings at one point, 25 years of all talk, no action. so tired of listening to the same old bull. but the president hasn't stopped there. he is also taking issue today with the reverend al sharpton who is also in baltimore. the president writing of sharpton this morning, al is a con man a troublemaker. always looking for a score. just doing his thing. he goes on to say of sharpton, hates whites and cops. this was how sharpton responded earlier today. >> i marched on him with central park five. i dealt with him on the "birther" issue. he can say what he wants. c

the premier league champions had an open training session in shanghai. taking part in the premier league asia trophy alongside west ham, wolves and newcastle. welcome to the programme. the world's best golfers are settling in on the antrim coast in northern ireland. the open championship at royal portrush, gets underway on thursday. it's now the final major of the year and the tournament has seen 10 different champions over the past decade. but you have to go back to 2006 for tiger woods‘s last victory, but could he build on the success he's seen in 2019 so far. patrick gearey reports. recently, tiger woods has swapped the green jacket four o'clock of invisibility. now he finds himself back out on the open, and he admits necessary rest has left his game rusty. it is not quite as sharp as i would like to have it right now. i made a conscious effort to cut back on my schedule to make sure i don't play too much. i want to play for as long as i possibly can, and you have to understand that if i play a lot i won't be out here that long. he finds himself in wi

-china trade talks have ended in shanghai. now erased its gains for the day as the headline breaks. again, u.s.-chinese trade talks have ended in shanghai. coming up next, boxed in? smurfit kappa posted a strong revenue gain. but is europe's largest cardboard box and packaging maker feeling the heat over brexit? we speak to the ceo anthony smurfit next on bloomberg. matt: it is 7:18 in london, 41 minutes away from the start of trading across the continent and in the u.k.. this is "bloomberg daybreak: europe." i am matt miller in berlin. nejra: and i am nejra cehic in london. u smurfit cover has posted a strong revenue gain and 10%.d dividend gains earlier this year, the group said it was insulated over brexit. but how is it feeling now? joining us now is the ceo, tony smurfit. sounds like these numbers, you're feeling quite comfortable -- confident about the outlook. with boris johnson as prime minister in the u.k., does that change the outlook? tony: we operate in 35 countries, the uk's one of those countries, but we have bee

now, shanghai —based company is looking to take control of thomas cook's to operating arm, with investment0 million. it already owns 70% of the company. it already has club med and cirque du soleil in its portfolio. because of commission rules, the company would own a minority stake in the airline business. non—eu firms are not allowed to own more than 40% of an airline. it isjust allowed to own more than 40% of an airline. it is just 27 years old, but with the increase in the number of chinese holidaymakers it has expanded rapidly. if this deal goes ahead, even though thomas cook will effectively be broken up, it will safeguard the future of the business, which has looked increasingly shaky over recent months, and give some reassurance to the 22,000 staff around the world. so what more do we know about the company planning to rescue thomas cook? let's go to our asia business hub where rico hizon is following the story. this tourism group is a subsidiary group of the fosun international ltd, which is an investment company with headquarters in shanghai. it is listed on the hong kong stock e

delegation has arrived in china's financial capital shanghai trade representative robert light hisor and treasury secretary steven nugent are due to spend the next 2 days around a table with chinese vice premier trying to find a deal the 2 sides however are as far apart as ever the u.s. is pushing for an end to unfair practices as donald trump likes to describe china's economic policies these policies include billions of subsidies which keep chinese prices artificially low for its part china wants a deal where both sides make concessions. so far the u.s. has imposed customs duties on chinese goods valued at $250000000000.00 china has responded with tariffs on $110000000000.00 worth of goods and all $360000000000.00 worth of merchandise is affected by the trade dispute to avoid further escalation and chinese president xi jinping agreed to a form of cease fire at the osaka g 20 in june however heading into this round of talks there is little sign of agreement from either side. we spoke to china expert richard mcgregor and i asked him how likely it is that china will back down. i think

trained shailene monks to perform in the rain but as our correspondent katrina yuri forced from shanghai not everyone is convinced with the east meets west so experiments. this is not what the op than expected to do. after almost 2 decades of strict comfort training. but he's not complaining the 30 year old is the budding stock of oriental wrestling entertainment. china's answer to american pearl wrestling the chinese audiences this ruthless written room is wolves away from the familiar silence of the shaolin temple. 2 years after its introduction here the sport is starting to win over fans but you don't see young men like this nowadays there so it isn't yet so powerful i like their strong physics not everyone however is convinced the wish i don't think this kind of white think will be too popular in china we chinese prefer to watch. while it's not the only fighting style used by the restless. is central to the sport. many of those taking part trained as shallow monks who are from martial arts schools in ancient china is doing strange and moss a lot of protect their communities from band

the stage is set in shanghai for a restart. u.s.rade representative robert and steven mnuchin are traveling to china but may be up against the same set of sticking points. itning us now is the former deputy director of the economic counselor. the firm intner at washington. we are now hearing that china's commerce secretary may join the stalks and shanghai. he is known to be more of a hardliner. how challenging will these negotiations be question mark >> they will remain challenging. the reality is, for the last 2.5 months, the sides of not been talking about the real issues. they haven't talked about structural issues. see whenhuawei will they start talking about the structural issues again, can they start from the baseline of where they were in may or will they take a step backward? it's important for the u.s. to get back to where they were in may. theink the inclusion on team is a good thing and he has a reputation as a hardliner but from president chi's perspective, it wants a deal, he wants the hardliners broaden as well as the

shanghai stock exchange, expecting representatives from 25 companies to be there. of 100 applicants that applied to be a part of this. there has been huge demand for this that outstrips supply. context, demand from retail investors outstripped supply 1800 times. we are expecting a huge frenzy of activity, a lot of investors going to sit it out because they expect lofty valuations that will die down after the initial excitement. the stakes are incredibly high or this to succeed. xi jinping promoted this, it has been touted by the top levels of chinese government and has taken with the tradeds war, at a time china is threatened from being cut off from the global supply chain, it is greater reason for china to have a domestic exchange to a debate and provide enough resources for domestic tech innovations. what are the rules of the new exchange? changesthere are pulled in the new exchange. it does away with the opaque government controls that have ruled exchanges in the past in china. here are the three biggest changes. first of all it is getting rid of the previous pr