that in making these loans, the bank was acting prudently in the interest of both the union of south africa and the members of the bank as a whole. at that very moment, the u.n. had just completed a review of economic conditions in africa, led by william dean, the son-in-law of channing tobias. as the chief of the african unit for the u.n., dean immediately sent white a draft of the report. it dismantled all the cliches about rising tides raising all boats. while south africa had the highest per capita annual income on the continent, most of that went to the white minority population. africans in the union made 75% less year that per year -- 75% less per year. miners only earn $4.12 or week. the report reinforced white's position as he made the case to the media for cutting off all funds to south africa. this was dangerous and shallow thinking, he argued. the world bank loans did not help. it bolstered a racist a caterer undercut moderate forces, saved the political -- just as walter white predicted, the regime's minister of finance waived the world bank's funds in front of critics as proof

at the time of bobby kennedy's visit 50 years ago, south africa was deep in the throes of apartheid, with a liberation movement that had been decapitated in the lily's leaf raid of 1963 and pushed far underground. black south africans at that point lived in fear and their leaders were either imprisoned or in exile, and the nashua party and the south african security forces controlled nearly every state institution. as it was described, nowhere was injustice more stark or the prospect for change bleaker than in south africa in 1966. r.f.k. would later write about what he called the dilemma of south africa, a land of enormous promise and potential, aspiration and achievement, yet also a land of repression and sadness, darkness and cruelty as of 1966. to put it plainly and simply, apartheid was a brutal form of racial subjugation. in the midst of an environment in which white supremacy was codified by law and most antiapartheid leaders and stalwarts were imprisoned or on the run, bobby kennedy was invited to give the university of cape town's day of affirmation address. kennedy began his

file clearance in south africa -- wins final clearance in south africa.rs are searching google and madrid. google says the are cooperating. last month, french investigators raided google offices in paris. mark: plans to bring more diabetes drugs to a place that needs them -- china. >> we are eager to make sure these products can be brought to market because there is a strong need for it. at the moment, new products come into china five years or more later than the eu and u.s. it could benefit chinese patients. mark: the biggest ill ever in the beer industry -- the biggest deal ever in the beer industry is one step to being completed. anheuser-busch, $4 billion takeover. there are some conditions. they have to sell its stake in a south african liquor company. vonnie: time now for our bloomberg quick take what we provide context on issues of interest. saudi arabia's bast oil wealth -- vast oil wealth -- we explore how they plan to navigate the post-oil future. >> women still cannot drive. saudis are attached to crude oil. this is what has changed -- oil rev

financiers to the blood bath was to loan south africa south africa a total of $80 million. disgusted. walter white. executive secretary of the naacp urged the head of the world bank, eugene black, to reconsider. not one penny, white intoned, should flow into that troubled nation until south africa abandons its dangerous and vicious racist policies. black, however, countered that it was not possible to reconsider such loans. and moreover there were no legitimate grounds to even contemplate such a move. the world bank, he informed white, made its loan decisions without regard to political or non-economic influences or considerations. black then tried to assure white that it was our considered view that the projects which the bank has agreed to finance will benefit all of the south african people, regardless of color. the loan will raise the standard of living of their peoples as a whole. this is in the land of you can't make this stuff up. white could only scoff at that assertion. certainly the president of the world bank could not be that uninformed. the grim and bloody trut

south africa is no different. at the south african see a bigthe rand, i climb over the last 52 weeks, about 25%. is that a problem for their exporters? you can check out ectr, which is a great way to visualize trade. at the south africa in the drop-down box, their biggest trading partner here is china, $32 billion of global trade. is the currency here a problem for them? level, iton one should help in terms of exports, the real challenge with that is the weakness in the currency has sucked inflation in. when you look at south africa, it is lowish growth and quite high inflation. of course, that if it persists, can become a very tricky cocktail. matt: what happens to this economy? frankly, it is not very big and seems to be collapsing. what happens when south africa's financial hub has its economy totally fall apart? nicholas: it is the similar challenge with these emerging markets, it comes down to the need to reform. when you look at virtually every emerging market globally, that is what they all have to do. they

those are outside the control of south africa. play to thehem downside. it could be a tough time. e municipal elections will be key. anna: you mentioned weakening currencies, the function bloomberg shows a south african currency down from 21% over the past 12 months. been aly, this has poster child for some of the stresses we have seen around emerging markets. in fact, that is one of the hedges we have for our long equity position in europe is to have a basket of these currencies. because he further downside to those even though we've seen selloff already. anna: further downside for which of the currencies do you think will go further? isin: the singapore dollar one of them. the taiwanese dollar is another one. then we would be long u.s. dollar. if we do see another shock out of china, we do have a long equity position in europe which is our positive side. anna: is the focus on the potential shock in china, or a fed shock? amin: either way, we think the basket is em currencies would suffer. whether it is china, or fed, we it could be a good place to be short. anna: where do you sta

i always want to have more animation in africa, especially in south africa, where kids are people, studentan find jobs. >> reporter: by thinking and acting locally, the creators of jabu's jungle are encouraging africa's young people to shoot for big things. taro mittara, nhk world, capetown. >>> it is the rainy season in japan, and people in tokyo seem to have their umbrellas ready for more wet weather. our meteorologist robert speta joins us. >> unfortunately a drastic change. the dry weather, it will come back by the weekend, but for now take a look at the satellite picture. the heavier showers already taking place, and it is still working its way. the the low pressure area, also another low over the korean peninsula. the heaviest rain actually expected to take place, out here towards the north. you'll see as much as 100 to 250 millimeters of precipitation, so plenty of showers to go around. if you don't like the rain, though, and definitely by saturday we're going to be looking at much clearer conditions, high pressure sets in from the northwest, so for sunnier skies, even much -- and k

it is the mirror of the problem south africa is facing today.overty, the huge divide between the rich and the poor, and massive unemployment. brent: we'll have more that -- stick around. ♪ ♪ >> welcome back, everyone. a british member of parliament has been shot and killed. jo cox was attacked in her office in northern england. a man has been arrested campaigning in the european union referendum in the u.k. has been suspended. in south africa, 40 years ago today, black students in the township of soweto rose up against white minority rule. many city crackdown and the budget that followed smelled the beginning of the end of apartheid. on june 16, 1976, students the crowded township took to the streets to protest a new regulation requiring them to study in africa on, that is the language of their right -- white rulers. authorities opened fire on demonstrators, hundreds died. it would take almost two more decades for a particular and but the events in sowedo created a groundswell that would change south africa forever. dw went on a tour of the town

that in making these loans the bank was acting prudently in the interests of both the union of south africa and the members of the bank as a whole. well, at that very moment, however, the united nations had just completed a review of economic conditions in africa led by william dean, the son-in-law of naacp board chairman channing tobias. as the chief of the african union unit for the united nations, dean immediately sent white a draft of the report. it dismantled all of eugene black's cliches about rising tides raising all boats. dean's analysis laid out that while south africa had the highest per capita annual income on the continent most of that went to the white minority population. africans in the union in fact made 75% less per year. and minors despite the growing demand for labor earned only $4.02 per week. the report reaffirmed white's position as he took to the media to make the case for cutting off all funds, especially that of the world bank to south africa. eugene black, white noted, had exhibited a kind of naivete to construe milan's nazi model of racial policies as benefiting

. >>> in the global fight against hiv/aids perhaps the most high-profile epidemic is in south africa. millions of people there are living with hiv and a generation of children who lost their parents to the disease. an ngo is trying a unique approach to carrying awareness for the care-takers of these orphans. nhk world has more. ♪ >> reporter: at the olympics here, all the participants are grandmothers, held in a township, the name comes from the word for "grandma" in the local language. this is the sixth time, what they call the gran ny's olympic haven been held. 600 of them are participating. the grandmothers are divided into teams that compete against each other in various events. with all the singing and dancing, it actually feels more like a party. >> translator: chant, be happy. let's play like children, be very happy, be very excited. >> reporter: the event is organized by a local ngo that supports grandmothers who are bringing up their grandchildren. this tradition is not unusual in south africa where many of the women have lost sons or daughters to aids. >> young people, it's

coming up, south africa's minister of finance will be talking about commodities, brexit and the southexclusive. ♪ get ready for the rio olympic games by switching to xfinity x1. show me gymnastics. x1 lets you search by sport, watch nbc's highlights and catch every live event on your tv with nbc sports live extra. i'm getting ready. are you? x1 will change the way you experience nbcuniversal's coverage of the rio olympic games. call or go online today to switch to x1. jonathan: from london and new york, this is bloomberg. as we await data out of the united states, futures stabilizing around these levels, down about a 10th of 1%. the ftse down about nine points. stoxx 600 banks index in europe, stocks have been hammered, down 14%. that is the situation, here. alix: initial jobless claims for last week coming in line with estimates. the estimate was for 267. -- revised slightly lower, so this encompasses the stress that is happening among the fed numbers. you have continuing claims going lower. on the flipside, you have that disappointing jobs report for may. that dynamic continues in t

south africa's own internal politics affect what needs to be done? we have the roadmap, the nine point plan. practical work is happening. i'm confident that we will have the space and momentum to get things done as we want to get them done. caroline: what about the negative publicity surrounding your own role within the government? is that put to bed? pravin: that might come on and off as the noise we see in the political system. we arebest of times, allowed to do what we need to do. part of the governmental system and the government team. i'm confident we will make progress in each of these areas. the good times will remain and become better times. mark: in terms of the politics, debateh has the brexit affected a country such as yours? pravin: to the extent that europe would be an important destination for the african exports to what happens in the european environment and any stability within the u.k.-europe relationship would have an element of uncertainty created. let's assume brexit actually happens and the decision goes in that direction come e

south of the equator in south africa, they're actsiing like is still high time summer.y have a stick, they have a camera. taking a selfie. oh, they also have the surfboards and some sand. who says you need a beach? it is called sand boarding. >> who wants to try to stay on? that is a serious view going on. that is like 45 second run. >> hey, you don't have to do it on your belly. he does it standing up like a boss. he looks like he has his snowboard down in the sand. >> pretty much works the same. same theory. if you're all covered in snow, you have to keep going in the water. >> so cool. >> yeah, they totally have the right idea. >> absolutely. we jump into the water right off tanzania and check this out. somebody got their ggi phantom three pro out and they captured the beautiful images of somebody just kite boarding. >> the colors are incredible. >> how many different colors of aqua are there? watch this video. it will show you. >> up to no good. >> things can get a little weird whether dad is home with the kid. he kept the kids all weekend and stepdad is back. it st

they found themselves in port elizabeth, south africa. starting a new life with nothing, stan's parents worked hard to build a retail business, support their two sons as well as four elderly parents. they all lived together in a small house. not wanting to bring children into the world in apartheid, stand i i moved to the united states we graduated college. >> we're so grateful to have stan as a role model, someone who has shown us how to do such impactful work with respect, with vision, and with passion. >> his parents would be proud of their stanley. i'm sure on this special day, they are looking down with great pride. >> he as always supported and believed in me, guiden and mentoring me to prove myself. >> everything he's done in his life has always appreciated and credited those who helped him along the way, and all his success and the success of the organization and people with whom he's worked has been the as a result of teamwork with other people. >> he's a decisive person, but to usen a analogy, not drive in the fast lay, stanley

he was faced with abuse and addiction and extreme versions of township poverty that existed in south africa, whether it's a poor young man in uganda who i worked in a creative writing program who come from a polygamist household who was abused, as many people were, abused by hismothers and was in prison because he didn't have the now pay the bribe get out, or the person in brazil who is in solitary confine independent a super max, federal super max in brazil for 22 hours a day, and when -- who looks -- i never found out his age but looked no older than 18 and i was told there he was there because the spit in the prosecutor's face and is in solitary confinement for years as a result of that. so there were a lot of horror shows along the way. >> that's the nature of reporting, is that it's a little built of hit-and-run endeavor where you don into people's lives, you get what you need and you establish a connection, so that there will be that kind of sharing and openness that will get you a story. elizabeth i wondered if in the research you did, if anybody -- if there were interviews from the

that is the big news from south africa. hear a big sigh of relief coming out of south africa. the european close continues. ♪ mark: live from london and new york, i am mark barton. liu.: i am betty this is the european close. to the walk free foundation, the answer is yes. the annual global slavery index showed 46 million people remain in some form of enslavement, including forced labor in factories and farms, commercial sex workers, and forced marriage. 58% of enslaved people live in just five countries. india, china, pakistan, bangladesh, and whose pakistan. andrew forrest is the founder of the walk free initiative. he joins us now from san diego. thanks for joining us this morning. how did you get involved in this, why are you so passionate about this issue? andrew: thank you. i got involved to my daughter, who, when she was 15 years of age, won a scholarship to work with orphanages in nepal. discoveredsadly, we that all the children she looked trafficked into the sex slave industry. i think she had a fairly close moment

>> reporter: a great white off the coast of south africa breaching in the moonlight for a discovery "ek" special "air jaws, night stalker." >> i think these new cameras are going to allow us to see into the nighttime world of the great white shark like never before. >> reporter: before i can dive to see the secret world of sharks i have to get my feet wet during the daytime to prepare. we're going to get up close and personal with sharks. i'm ready to go. i get a crash course in diving. >> what's up, man? >> reporter: meet with my guide, andy casa grande, renowned underwater cinematographer who studies shark behavior. >> i've been diving with sharks 15 years now all over the world. filming at night can be a challenge because you can't see them until they come into range of your lights. once they disappear from the lights it's basically anyone's guess where they went. the last thing you want is a shark to sneak up on you in the dark. it gets a little sketchy, i won't lie. >> the number one rule i live by is to not act like prey. if you act like prey, the sharks treat you like prey. >>

greatness so he tried to put itself in danger in india as a war correspondent and then went to south africa were the war just erupted he was a correspondent but he volunteered to go in an armored train the trainer was attacked and he was captured put in a prison camp and they made great propaganda value out of this but he escapes by himself to make his way across 300 miles of enemy territory with a chocolate bar and a few coins but then gets to neutral territory comes back and fights battles and then is freed from where he is held captive. >> one of the most gifted narrative historians writing today and the third book is a two-time finalist for franklin roosevelt is a very single moment was during the korean war with very unpopular president truman and douglas macarthur when mccarthyism was coming for to the front and they wanted to use nuclear weapons to stop the flow and truman disagreed and they had a power struggle this is the moment that is just as dangerous although not as well-known dissidents the idea that as unpopular as he was he took a very principled stand to push back behind th

sharyl: this is in south africa? chris: this is in south africa.nd so, what the state broadcaster is doing instead of telling people about the protests, they are worried that if they show demonstrations that will then lead to demonstrations, so that's why they're not showing that at all -- they're trying to sanitize the news. sharyl: what forms of censorship are faced in china, is it very blatant? are journalists sometimes told by government what not to publish or is there self-censorship? lijia zhang: they are certainly self-censorship, but there also is lots of censorship from the government. i have a friend who's editor of a newspaper in beijing, and she received a long list of things not to talk about. neil clark: i see a big change, really, in the british media, certainly in the last ten, particularly in the last five years. the parameters of the things that we can sort of say and write are much narrower now than they used to be. sharyl: can you elaborate a little bit on that? neil: yeah, i call it the new mccarthyism and i don't think that's

than --install more clean energy in south africa, egypt and ghana by 2018.as made good business sense. >> we are coming in at half the price. if you want to build cold wind or solar, it is going to build wind or solar. selena: the rose biggest utility is said to be shopping in south america. world's biggest utility is said to be shopping in south america. they are looking to buy some or all of the shares owned by engineering conglomerate. it is 23.6% stake could be valued at $1.5 billion, not including premiums. that is your bloomberg business flash. anna. manus. manus: thank you. , they arel reserve conducting a series of stress tests to the -- for the u.s. banking system. the tests and results are tonight to determine whether the lenders which are improved -- are approved for next week. janet yellen says she expects -- she doesn't expect banks to boost capital. -- he is still with anna and myself. let's talk about these stress tests. janet summed it up. building up capital, something she is not averse to. michael: the last five to six years have been about

they found themselves in south africa.ing a new life with nothing, stan's parents worked hard to business, support their two sons -- support their two sons as well as four elderly parents. not wanting to bring children in apartheid south africa, stan and i moved to the united states as soon as we graduated college. >> we are so grateful to have stanley as a role model, someone who has shown us how to do such meaningful, important, impactful work with respect, with vision, and with passion. >> his parents would be proud of their stanley. i'm sure on this special day, they are looking down with great pride. >> he has always supported and believed in me, guiding and mentoring me to prove myself. >> everything he's done in his life, he has always appreciated and accredited those who have helped him along the way. and all his success and the success of the organizations and people with whom he has worked have been the result of teamwork with other people. >> stanley is a very decisive person, likes to act quickly. lane -- ifn t

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