broadly speaking, steel is steel and higher capacity for steel companies in the united states has difficultyng associated with higher prices and better profitability for names. >> thank carlos de alba, thank you very much. we appreciate it >> thank you >>> coming up, this stock is total garbage and that's precisely why you may want to own it as the reopening gains steam. we'll explain be garbage chart >>> take a look at some of the online sports gambling stocks. several bucking the downward trend. you can see there scientific games of 7%. churchill downs up 2.5%. we're back in two minutes. ♪ ♪ ♪ hey google, turn up the heat. ♪ ♪ ♪ i'm searching for info on options trading, and look, it feels like i'm just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning. see how you can become a smarter investor with a person

on trump and his team while after trump sat down in the oval office, while after the fbi had fired steelor his leaks in the media. new conflicts of interest of the democrat governor of michigan, gretchen whitmer, travel ban on everyone else but reportedly flying to florida on a private jet owned by rich businessmen who do business with the state of michigan, now it's this, to top democrats claiming the biden of administration for the botched border crisis, but the white house press secretary jen psaki is complaining saying it's maddening that people keep asking why the white house is not calling the border what everyone else he, crisis, thank you for joining us, i am elizabeth macdonald, "the evening edit" starts right now. ♪. liz: look who's back former ck e restaurant ceo andy pozner, the white house unplugged the celebration of put the cork back in the champagne, jobs coming in less than a third, 266k is still pretty good, what did you think of today's event. >> there's a goodwill and business that you'll do more business when you're open then you are when you're closed and with the e

spy on trump his team will after trump sat down in the oval office, well after the fbi had fired steeleis leaks in the media. new conflict of interest accusation against the democrat governor of michigan, gretchen whitmer breaking her travel being on everyone else but reportedly flying to florida on a private jet owned by rich businessmen who do business with the state of michigan. two top t democrats slamming the biden of administration for the botched border crisis with the white house press secretary jenb psaki is complaining saying it's maddening that people keep asking why the white house is not calling the border with everyone else sees a crisis. i'm elizabeth macdonald, "the evening edit" start right now. ♪ . liz: look who's look who's back with us former ceo andy pudzer the white house unplugged the celebration of the court back in the champagne jobs coming in less than a third that expected, what did you think of today's event? >> there's a good role of business that you'll do more business when you open them when you're closed and with the economy coming out of the pandemic, y

that has to be because steel makes people sick. certainly in fact util high rate utilization steelworkers families by the workers themselves which suggests one there is a social effect lycos talk about earlier the economic dislocation economic pressure in some way manifesting healthcare utilization. i think that it's important. but to come steel makes the whole regent sick is important version of this we need to try to think about. people live in these valleys all the time. some evidence for the sense that a million and a half people living near 15 or 20 steel mills and i think in the form of environmental health the industry is offloading costs onto the private sector this away. and ultimately onto healthcare workers. that is who is going to deal with problem in a day-to-day way in a healthcare context. linden economic subsidy to it. >> rights, that is a really -- this is obscene not confined to pittsburgh this applies to the carbon economy at large. one of the other consequences of where we have been production wise for a long ti

bobby: it's the size of a credit card and made of stainless steel.re's no electronic components. it is stable secure long-term cold storage. not connected to h&m. we have a stainless steel and goldplated version. you can get it on amazon. this is my invention. we created this multicurrency wallet. it says bitcoin on here but it's deposit address. if you want to do any of these other coins we support over 90 of them and the rc 20 tokens. we added support for nfp tokens. you download the app and your crypto is locked on this device. a title as that is where the value of the item is tied to your name. think about real estate, your car, your stocks. those are tied to your identity. like bobby christopher lee. if i lose my debit card i could go to the bank and get a new one. but bear assets, things like gold and cash or a bottle of red wine, that's a bear asset. we turned it into a digital -- from a digital asset to a physical asset. some to get hit by a bus, their spouse and children retain access to the cryptocurrency because there's no passwords to rem

from the carnegie steel mills in pittsburgh was still— carnegie steel mills in pittsburgh was stillat readily because few other buildings were going up. so many buildings — buildings were going up. so many buildings had been planned and simply— buildings had been planned and simply taken off the drawing board as it were — simply taken off the drawing board as it were. but simply taken off the drawing board as it were. �* ., ., , as it were. but one other building that was going — as it were. but one other building that was going up, _ as it were. but one other building that was going up, the _ as it were. but one other building that was going up, the chrysler . that was going up, the chrysler building. there is a bit of a race as to who was going to be the biggest. as to who was going to be the bi est. . . as to who was going to be the binest. , ., , as to who was going to be the bi est. .. , ., , :: biggest. the race started between 40 wall st, the bank _ biggest. the race started between 40 wall st, the bank of _ biggest. the race started between 40 wall st, the bank of manhattan

it's not just chips, it's steel.s a whole range of components that are going to go particularly into ev vehicles as well. how as an investor do you position for that? it is an inflation trade, but a very specific inflation trade. industrials have done really well over the last year. i am wondering whether this pulls back some of that growth, and how as a manager you position around that, as an investor you position around that. nadia: absolutely, we are seeing inflationary pressures across a lot of different sectors, not just the chips. we are seeing increased costs in transportation, and materials from higher labor. so we really want to see companies that can manage through that. we continue to favor industrials in this environment because we think there's a lot of room for industrials to catch up to where we are seeing, so when you look at where you want to position, you continue to want to position and companies that have pricing power and can pass through some of those cost increases. alix: how selective do you h

liberty steel pointed out their plant — liberty steel pointed out their plant in — liberty steel pointedwill require investment and i think that is a crucial conversation the government needs to have with liberty— government needs to have with liberty or— government needs to have with liberty or other interested parties, to understand how we can benefit from _ to understand how we can benefit from that — to understand how we can benefit from that as a country.— from that as a country. thank you very much — from that as a country. thank you very much indeed. _ from that as a country. thank you very much indeed. that _ from that as a country. thank you very much indeed. that is - from that as a country. thank you very much indeed. that is the i very much indeed. that is the business. three former professionals from rugby union, rugby league and football, whose lives changed dramatically when they were diagnosed with motor neurone disease, have met up for the first time since the start of the pandemic. rob burrow, stephen darby and doddie weir have been supporting each other coping with the

if you own anything steel, anything that can be used to make steel or move steel or dig holes or take minerals out of the ground, you have a winner. caterpillar is the best bunch. and that acquisition is finally paying off it mining equipment. plus, they make everything you need to build new highways take terrific holds and move a lot of dirt. united rentals has a ton of machines their renting them, hence the name next up is a company that builds houses t stocks that can find builders, that's the demand from housing that has to do from moving with the cities off the charts. between low interest rates and the covid driven cities, you won't be able to find a nice house that doesn't have multiple bidders meaning you have to pay more than you thought. you borrow the money, which is cheap because the fed wants to keep the economy moving and create jobs. means lennar, toll brothers, d.r. horton. that love extends related to anything with home improve the and home furnishings william so ks-sonoma on the higd and way fair on the low end. black and decker, we had them on they sell goods and to

. ♪ the steel is ready. the steel that will go not to pittsburgh, lancaster, or yokohama.th america, steel to be delivered into the arms of the future. from the united states, and from these south american shops, will come the machines that will convert the unknown and undeveloped areas into human use. convert cotton into clothing, rubber into tires, steel into machines to make machines. for half of south america is a wild frontier -- not enough roads, not enough men, not enough tools. the work has just begun. the work of road builders, the work of health engineers, the work of soil experts. the work of planting in the new fields of the amazon valley. ♪ the seeds are those of rubber. the young tree has the kind of root that will resist disease. but it yields little rubber, so the bud of another variety of tree, whose root is weak but whose trunk gives a high yield of rubber latex, is grafted onto the healthy root. ♪ seven years of care by indian workmen of the ford plantation, and out of the amazonian forest comes the full yield of liquid rubber. science can make the jungl

business — a major business, a major steel business to— a major business, a major steel business tote agree with rachel on the corruption of the government here _ on the corruption of the government here if— on the corruption of the government here if you — on the corruption of the government here. if you look at the cameron issue. _ here. if you look at the cameron issue. it — here. if you look at the cameron issue. it he _ here. if you look at the cameron issue, it he was an ex—prime minister— issue, it he was an ex—prime minister who is employed by greensill, sending 56 text to various— greensill, sending 56 text to various civil servants and ministers who he _ various civil servants and ministers who he used — various civil servants and ministers who he used to basically be their boss _ who he used to basically be their boss too— who he used to basically be their boss. too deeply, deeply embarrassing for david cameron particularly the fact that he signed all his— particularly the fact that he signed all his techs with law. he never signed — all his techs with law. he never signe

liberty steel — which employs 3,000 people in britain — is planning to sell its stocksbridge plant as support the government could offer to local communities. mr gupta promised that none of our steel plants would close on his watch, but after the serious fraud office descended on his empire, the workforce is afraid for their future. now the liberty steel plant in tredegar puts food on the table and pays the mortgage is of my constituents and across the country, 5,000 families rely on the company. we now need the government to ensure that these plants remain open and crucially provide the finance to bridge any transition period should a new buyer or estate purchase be necessary and of course work with the trade unions to test the commitment of any new buyers. if promises are broken, will the secretary of state step in with the finance to support our steel communities? the honourable gentleman will remember that mr gupta asked myself and the department for £170 million and dare i say it, many members opposite were hollering and screaming and saying we should nationalise and in fact, i w

i like steel is looking for a catalyst. the chinese currency -- alix steel is looking for a catalyst. the chinese currency is moving up. here it is about terrain in the hamptons. alix: nothing to really move a lot of needles. on the one hand, you have strong economic data continuing to come out. we will break down more of that gdp second quarter in a second. president biden reportedly is going to be unveiling. you also have the republican version of their own infrastructure bill. you have the recovery trade, small caps, financials, materials outperforming. yields obviously pushing higher. selloff across the bond market on that catalyst. it is really about the fed and inflation. iron ore popping higher despite the fact that it was in a bear market for a minute. that is something we will address throughout the show in terms of the relationship with china and what the readthrough is to inflation. the outperformer in the g10 space, a bank of england policy maker saying the way when -- saying we may want to think about raising i

still with us, james carville and michael steele.ing you wrote for the website today, remember this is a former chairman of the once great republican party. quote trump has redefined the party, becoming party of angry white nationalists and faux patriots, afraid of their future and stewing in their own victimhood as they dine an steady diet of gop cancel culture, conspiracy and lies. i've asked you before, going to ask you again, does it ever get back to its old definition, roots and identity? >> hope always springs eternal but reality is cruel. cruelty of this i think for more and more republicans around the country is that it doesn't. the fact that kevin mccarthy put out a tepid statement, has taken no action with respect to marjorie taylor greene. her crazy just goes up exponentially, she double and triples down. wants to be the female version of donald trump and will do everything in her power to do that because cha-ching, there's cash at end of that rainbow. that's where the party is. will kick out liz cheney and elevate here. d

and michael steele, former chairman of that republican committee and also the host of the michael steelerotest. gentlemen, welcome to you both. james the news organization reported that mcconnell was so taken by the interview gave vox that it was a democratic strategy that he distributed it to his caucus to our audience. all remind you here is some of jane's comments in that. democrats have to make the republicans on that insurrection every day. they have to pound it. they have to call bookers on cable news shows. picture lsu football. they have to get people to write op-eds. there will be all kinds of investigations and stories dripping out for god knows how long and the democrats should spend every day tying all of it to the republican party. so james i have a dual question for you, has your party lived up to that challenge you lay down and or are the republicans doing it for you through their intransigence? >> as i understand, at this is the largest investigation in the history of the united states. this is an attack on law enforcement. it's an attack that tried to stop a constitution

steel -- this is "bloomberg markets," with alix steel and guy johnson. ♪ guy: wednesday the 12th.rom london, i'm guy johnson. alix steel is over in new york. welcome to "bloomberg markets." a massive upsides if i -- upside surprise on inflation. alix: you're looking for the hot inflation, and you definitely get it, whether looking at the overall number of the core number. rich clarida says we are going to see inflation over to present -- over 2% for our target. tech is getting hit, but we still have a reopening trade going on and potentially some overvaluation issues, so there are other factors that could be leading tech. the nasdaq 100 is down about 1.5%. we are obviously seeing a selloff in the bond market. we are still range bound from what we have seen over the last couple of months. given rates are all moving higher, but it is really in the two and the fives. the dollar of about 0.3%. again, a muted type reaction. financials, energy really the only upside right now within the s&p. let's break down some of the numbers and get more at a. mike mckee has all the details. michael:

tycoon sanjay gupta steel aluminum mining financial services and real estate those are just some of the interests of the companies owned by the group the family group alliance sanjeev gupta empire employs 30 $5000.00 people around the world that accounts annual revenues of $20000000000.00 now it's under investigation by britain serious fraud office charges include suspected fraud and money laundering in connection with invoices sent to its major finance or the now bankrupt greensill capital. green says implosion has rocked britain's business and political classes former prime minister david cameron was grilled by lawmakers about his lobbying for the company this week right i said there's a strong argument that having a fool of prime minister you gauge on behalf of any commercial interest no matter how laudable motives and cools can be open to misinterpretation perhaps that's especially so when the communication systems we will use in the heat of responding to a crisis of text. rather than the more formal approach of right now group his empire is facing the heat criminal scrutiny and

steel case is here on how they're moving the goalposts. but first, warren buffett's hot hand is back. berkshire hathaway clocking just over $7 billion in operating profits on $64.6 billion in revenue. the parents of more than 70 businesses that buffett and vice chair charlie munger built 56 years ago hitting an all-time high right now, up 2.25% at 421,581. stock has never split, that's why it's so expensive. the meeting was held virtually in california without the usual 40,000 buffett faithful who every year make the annual trek to omaha where they pour through the front doors, they rush right in to hang on the billionaire's every single word. but this time the oracle began virtually by taking a swing at online brokerage robin hollywood, bankrupt9ly calling those who trade on the free app gamblers. >> well, that is really waving the red flag at the bull. [laughter] finish i think it's just god awful what something like that would draw investment from civilized man and decent citizens. it's deeply wrong. liz: buffett saving kinder words for

forces fired rubber coated steel bullets tear gas and stun grenades at more than $300.00 palestinian worshippers for a 2nd time in a week and there's been widespread international condemnation of the continuing violence and recalls are growing louder for a deescalation between both sides. focused. on the situation in israel the west bank gaza. very deeply concerned about the rocket attacks that. need to stop and he stopped. al-jazeera how the force that has this report from occupied east jerusalem. for days the question is hung over this simmering city would monday jerusalem day 2 israelis marking the start of israel's occupation of east jerusalem be the day of definitive violent eruption as the hours tick by the answer came repeatedly grimly in the affirmative at 6 o'clock hours threatened hamas launched a long range rocket attack on jerusalem's outskirts. and by nightfall it was counting a growing number of dead including children as the israeli military struck gaza one blast in the northern city of beit hanoun killed 9 people including 3 children and the side let it out that the c

the sale is set to include stocksbridge's mill at brinsworth, and performance steels at west bromwich by sanjeev gupta, employs 3000 people and is in the process of refinancing after its main backer, greensill, collapsed. the questioning was opened by an mp who said many of his constituents worked in the threatened plants. in the government's view, your view, how realistic is it that this will continue and create jobs? my own view and that of my officials, who i've discussed this almost on a daily basis with, is that the assets themselves are good assets. he believed buyers would be found. assets, fundamentally, are good assets. the workforce is skilled and dedicated, the managers of the plant are very experienced, and i've spoken to them very frequently. but the issue that liberty had in particular — maybe we'll go on to this — was to do with financial engineering of gfg, the leverage, the finance, the debt that they've incurred. all of that was what i think put a lot of pressure on those businesses. without that, i think there's healthy interest in the assets, and i think they have

steele. customer no one had ever heard of christopher steele. and yet, everyone believed him immediately. >> the allegations in the christopher steele dossier, and you went to the timeline very well, are stunning. they are actually substantial portions of what was in the steele dossier. it was a raw intelligence document. >> based on our own reporting and word from numerous official sources, in fact, it is far from bogus. >> i think we are actually going to have to stop calling it the infamous dossier. >> tucker: based on our reporting. liars. now they have been exposed as liars. the hole story has been memorable. barry meyer has written a new book that examines the dossier and the broad relationships between journalists in the intelligence community. the book is called "boot." the rise of private spies. he joins us now. thanks for coming on. in the next short. period of time, tell us the connection between these intelligence communities locally in american journalists. how broad is that? how

what is their ability to do that when we are seeing record steel production at the moment, record steelrices, economic growth rebounding in 2021 and 2022? so the macro backdrop is pretty positive. having said that, the one unknown is clearly inflation and what that could mean in terms of narrative around interest rates. that is the thing that, at an overarching level, will impact these mining share prices. alix: let's talk about steel because one would think that with iron ore prices like this, the steel guys would get hit really hard, even though there's demand. but steel mills in china, their margins are really good. how long could demand hold up with these prices? alan: not just in china. the amount of upgrades we have seen as well. again, i think it is a function of capacity, a bit like the mining story. there was certainly a restriction in the amount of capex in the same way restrictions were brought into minds, and i think that is -- into mines, and i think that is the same thing we are seeing now. it is not something we are going to correct overnight. as you said, margins are pre

the other price is very important, the steel price.ommented earlier that steel was going up and will continue to go up. that's very important for the older part of the fleet. when you arrive to an age where you are doubting whether you should continue to trade your vessel or send it to a recycling yard, you look at the price of steel, recycled metal, scrap metal. then you make your decision. we are at an all-time high at this point in time. to recycle a 20-year-old ship that you have been operating for 20 years, you can fetch $20 million. knowing that a new one will cost you just under 100 million. it's 1/5 of its value. it's relatively high. it should incentivize people to do that. anna: there's a scrappage rate increase. that's interesting. i suppose you have a lot of visibility about supply vessels in your industry. do you have a sense? you told us about what you saw as older vessels. given the climate change agenda and the new regulations that are coming in as well, do you think you have a firm hand on the supply of vessels to mark

spy called christopher steele.ristopher steele and yet everyone believed him immediately. >> he went through the timeline very well a few moments ago. it's stunning. >> there were substantial portions of what was in the steele dossier which was an intelligence document that has indeed checked out. eco-based on our own reporting and numerous sources the dossier is far from bogus. >> i think we have to stop calling at the infamous dossier. increasingly it's the accurate dossier. >> brace, cut based on our reverting, layers. you don't hear a word about the steele dossier. barry meyer wrote a book that examines that dossier and the broader relationship between the intelligence community. it's called spooked. thanks so much for coming on. it dawns on me that this is an hour-long conversation that we should have the having but in the next short period of time, tell us the connection between the intelligence community globally. how broad is it? how big is this? >> it's very big talker and thanks much for having me on. jou

alix: you brought up steel. guy brought up steel. guy: ok. you can blame me.er] but i think it is going to be an amazing headwind. my key question, and i continue to be challenged by this one, would you drive an electric pickup? do you want an electric pickup? are you going to get an electric pickup? matt: i would definitely drive one because i want to see how they perform. mary barra was on yesterday, and i would love to see if the hummer really has it. i like the kind of weird look of the cybertruck. the riviere and -- the rivian is quite cool in suv form. i'm not sure that i want one. want a dodge ram power wagon. alix: i would drive it. i have my drivers license now, so score. matt: congratulations. [laughter] guy: i mean -- alix: i mean, i've had it for five years, but still. matt miller, things a lot. apparently, vaccine makers are under pressure because of this ip issue. you had angela merkel coming out and saying she disagrees with the u.s. in terms of waiving those coronavirus vaccine patents. we are going to break that down. biofarma stocks are now o

maker. detested caples mike third largest steel maker-— steel maker.tching this with a certain amount of anxiety. tuesday will mark a year since the killing of george floyd — the black american man killed by a white police officer. the death triggered protests against racism and police violence across america and around the world. members of mr floyd s familyjoined activists and citizens of minneapolis on sunday to begin marking the anniversary. barbara plett usher reports. the killing of george floyd was such a pivotal moment for race relations in the country and for the city. it's taking stock now of a year full of grief and anger and passionate debate about what to do with policing and police reform. so this is a time to take stock, to mobilise for the future, and to pay tribute. i will stand and be the voice for him. the change for him. i will stand and continue to be the legacy for him. there was that crucial moment of accountability about a month ago when the former police officer derek chauvin was convicted of murder. it felt then as if the city

steel soaring to outperform, setting higher steel prices guy, we've talked a whom lot about cliffs and for a long time now >> tim has, without question, we've all talked about it at different times. you go back to u.s. steel in march 2018 it was a $45 stock seepingly going significantly high erwhen everything went down on the china tariff front and saw how low the stock traded i would agree and tim would agree we're in a better environment now than steel three years ago and by definition the stocks should be higher. i'm surprised they're not higher now but i understand the stair step they're taking. cleveland cliffs, talking about a eight-year high with still an upside, so despite people saying these are over extended i understand that but i personally there's room to the upside. >> yeah, tim how about you >> yeah so guy's right, referring to good cycle, it's a super cycle is what credit suisse called it and someone who is invested through another of these in late 90's and 2005-06 and topping out in the crisis in '08 all of the ininflaflationare part of story and all going on here, chi

and of course michael steele is still with you.find so haunting. he says we need to know why it took so long for the reinforcements to come. the entire animating theory, other than the politics about benghazi, was trying to find out why it took so long for reinforcement to come. there's too much conspiracy layered on top of that, but why don't they want to know why it took so long for reinforcements to come to the capitol? >> i can't figure this part out outside of political bringsmanship, the decision trees, decision flows, and various players i think would be critically important to understand, so that we owe it to these mere, also as what is mentioned? , we haven't defused this issue. it could very well happen against in what's important in that law enforcement itself an investigation couldn't uncover, or a committee in and of itself. the commission has to do the deep dive, present that information to the american people and present a road map to ensure it does not happen again. that's i think where congressman katko is trying t

alix steel is over in new york. this is "bloomberg markets." to be closer to that $9 billion acquisition of mgm, the movie studio. a never-ending battle to control content. dave wilson is here. dave: looking at it all. this deal has been kicking around for more than a week. at least, that is when the initial reports came up that amazon was looking at metro-goldwyn-mayer. we had a person familiar with the matter tell us that there may be a deal announced as soon as today. the $9 billion price tag has been out there. this is a studio that made $5.5 billion just last year, so it just goes to show you how much value amazon and its peers see in being able to control movies, television shows, you name it. james bond you've mentioned. there's the rocky franchise, pink panther, robocop, a lot of series that have big fans. so people looking to take advantage of that. you see what the numbers have been over time at the box office. now the focus is really on streaming, with amazon looking to beef up its amazon prime video service. alix: is that inflation

and alix steel. ♪ guy: 30 minutes to the close.hat do you need to know out of europe at this hour? further sanctions by eu leaders. this after a flight lidded over the weekend and someone arrested on board. the u.k. telling aviation authorities to avoid the airspace. we will speak to willie walsh in a moment. mining stocks under pressure. china increasing its pressure. virgin galactic sees its shares rocket after this weekend's successful spaceflight. we will be joined at hour by its ceo. basically, volume is down 50%. a lot of markets are closed. taking volume out really across the board. some markets are open, but basically it is a national holiday. the result of which, volume on the light side. the stoxx 600 going sideways because of this. miners right at the bottom. commodity prices under pressure. the euro back with a .122 handle -- 1.22 handle. 1.2220. alix: same in the u.s. but we are a little better than in europe. it is a good play. the s&p sector is up. the nasdaq outperforming as well. you have a bid into the bond market

still with us, david plouffe, michael steele. comment, what does he have in common with the weather in hawaii. if you don't like what's happening now, wait ten minutes and it will change entirely. hear now the comments of lindsay graham. >> i accept the results of the election. i don't know what the audit is all about in arizona, i don't know the details, but i'm ready to move on. 2020 is over for me. i'm ready to march on and hopefully take back the house and senate in 2022. >> michael steele, over to you, what do you make of it? >> just move past it. it's irrelevant what lindsay thinks about that at this point. any of those folks who come out after this thing has been allowed to progress to this point, it's not important. it's unfortunate it's taken republican officials this long to come out and say something, they need to shut this down. you know, the supervisor's right, will make it harder to conduct elections in the future, and fact that you've got at least one party right now that is propping up this lie, you know, you can

you have to make steel with no emissions," that steel would cost you 4 times what steel does today.our electric bill would more than double if we just take the technology we have today, so supporting those companies and drawing other investors in-- one thing breakthrough energy has done is gotten a lot of co-investors. green investing didn't go very well in the first round, and so it looked like a field that might evaporate to some degree. becausbev's come in and been able to bring a depth of understanding to these things, not only have they been able to invest-- the first billion will be fully committed within the next year-- but we've gotten other investors, so that's gone quite well, and the technology, they only invest in companies who have a chance of reducing greenhouse gas emissions by a half a percent, each company, and they've found 20, and i'm sure they'll find another 20. rubenstein: now i'm the smallest investor in that fund, i think, so am i gonna get my money back and make a return, or what would you say? gates: i'd say it's-- of the things you invest in, it's probably

maker, liberty steel, has announced plans to sell off its stocksbridge steel plant as part of a restructuringg it faster and cheaper. so steel works across britain closed, taking with them thousands ofjobs. in 2017, sanjeev gupta snapped up specialist steel—makers convinced he could be the man to save them. but to fund his plans, he entered into a complex financing agreement with a company called greensill capital — the same firm who was at the centre of a recent government lobbying row involving former prime minister david cameron. they went bust in march, raising big questions about how gupta's steel business could survive but he told the bbc he was certain jobs were safe. all our steel operations in the uk, one after another, was in the process of shutting. it's hard work which means they now have a viable future. it's still a tough journey ahead, the uk has many disadvantages, the uk steel industry has been decimated for the last few decades. we still have a lot of work to do, i'm not going to give up in the uk. as long as i am in charge, my plants will stay open. but who believes him now

the mo-town of steel, the steel stocks are mostly in the red at this hour, as manufactures and unionsdea that's been floated on how to drive down costs for home builders, auto manufactures, high-tech companies and the rest grady trimble is in the thick of it at a metals manufacturing plant in missouri and really has a guess the give and take and the push and pull over this one idea, what is it, grady? reporter: exactly, it's tariffs, liz. this particular manufacturer and hundreds of small manufactures across the country sent a letter to the president xiing him to do away with those tariffs that president trump imposed in 2018 on steel and aluminum. we are at homeyer precision manufacturing i'm with the president of the company tim wetzel, so what's happened in the last six to eight months in regards to steel and aluminum prices? >> actually its been going on longer than that actually since about two years we've been see ing lead times increase and we've seen costs go up and also the minimum order requirements are going larger, so we're see ing an impact on our business that way. repor

rubber coated steel bullets batons and stun grenades for a 2nd time in 3 days the inside of the mosque became a scene of battle. blocks all ords. and jerusalem a red line whoever bears all the consequences of this dangerous zionist aggression is the israeli occupation this is why the situation is exploiting. israeli official said palestinians triggered the violence with stone throwing palestinian witnesses blamed the israelis for firing rubber coated steel bullets from long range injuries quickly mounted into the hundreds the palestinian red crescent said its own medics were among them in the neighborhood of shakespeare are where palestinian families face eviction palestinian israeli members of parliament faced off against representatives of far right israeli parties israeli jerusalem day march was called off after the government barred the usual route through the muslim quarter of the old city citing the risk of violence but through the day into the night that violence came anyway the day that ended with violence just now and doing and. women holding on to that began here simmering te

people said that the steel that was arriving from the carnegie steel mills in pittsburgh was still warmd that readily, because few other buildings were going up. so many buildings had been planned and had simply taken off the drawing board, as it were. but one other building that was going up, the chrysler building. there was a bit of a race here, wasn't there? who's going to be the biggest? actually, the race started between a0 wall st, the bank of manhattan building, and the chrysler building. and the chrysler building announced they were knocking off at 875, 900 feet, so the bank of manhattan building put a crown on top of their building — it topped out at 925 feet. and chrysler snubbed his nose at them and kept on going, with the addition of the spire, the stainless steel art deco spire on the chrysler building. it took the height of the building to 1,046 feet. it was the first building taller than the eiffel tower. the empire state building had been progressively getting higher, and they had determined to knock off at 80 stories, or 1,000 feet, in large part because of the 0tis ele

especially steel was very badly managed in the latter decade. it completely vanishes.2 it's gone completely. so creepy your gps still says east street it's all gone and so now you have these warehouses. a bunch of others too. i talk about the difference in the work. obviously the warehouse work is physically taxing and wearing. and is not as treacherous as what was experienced at the steel mill because there is no comparison. but, one man and many people like him feel the loss of the work routinely. because as dangerous as it was it paid a lot more, but more importantly it just gave them vastly more sense of purpose and camaraderie and community and meaning alike. there is a reason why they allow mostly men to stay there for decades for their whole career. not only because they provided middle class kind of income but also because they felt part of something. i was talking to another retired still worker recently and he still lives right there. after the shifts at the warehouse you see all the guys go the workers men and women go screaming out of their. then to put in

make steel which we roll and finish and turn it into specialised steel. travel and weather where you are. good morning from bbc london, i'm alison earle. the government is advising people not to travel in or out of hounslow and bedford, due to fears over the indian variant of covid—19. the guidance published online says to avoid the eight worst affected areas, unless essential for work or education. they're also urging people in those places not to meet indoors. the leaders of some councils involved have criticised ministers for not consulting them first. the evelina children's hospital is using new technology to connect families separated due to covid restrictions. nurses in the neonatal wards have been recording and sharing videos of the babies in intensive care. it's also the first unit in the country to play clips to the newborns recorded by parents, to help with bonding and development. a new curriculum about black british history, developed by hackney council, has been introduced in schools around the country. the lessons teach children about the co

to cool -- steel prices start to cool again.r consumer spending is strong enough to get past ppi pressures into cpi. there is no sign of that happening. shery: will asian economies see those price pressures? what does that mean for the central banks? >> we are feeling relaxed about underlying price pressures in asia. you will see base effects from oil, food prices are higher. what central bankers are looking at is underlying rights pressures on the consumer side. because we have a relatively subdued recovery in local demand in most places, even in china things are cooling at the margins. we are unlikely to see an increase in underlying price pressures. what does it mean for central banks? no one will hike rates this year. they will all sit and rate -- sit and wait. it will be them -- it will be until the middle of next year before we see tightening in asia. haidi: these liquidity injections measures, how much does that limit both fiscal and monetary policy tools they can reach for? quick it is very tricky. they are facing huge e

china's oversupply and flooding their market and our market with cheap steel.id: some of your predecessors have done trade missions. taking business people around the world and right now you cannot do that because of covid, but the administration seems to say we don't want to have greater access to foreign markets so much so that people can build factories overseas. we want them to be built here. amanda: >> -->> we need to do both. i plan to be active in export promotion. we need to continue to have free markets. we need to do business there. we need to export there. right now, we need a domestic focus. for at least the first 18 months, a lot of my focus will be domestic david:. -- domestic. david: you've been running the department to some extent, remotely. do you expect some point -- do you expect at some point that people will come back and you will be going back to the way the department was run before? >> maybe not five days a week every week, but certainly back in the office. i think work from home is here to stay. look around. this is a ghost town. i hop

steel that is dirty. it's dirty in terms of its emissions. it illegally subsidizes that steel and dumps it across the world. these 232 tariffs reduced american imports by more than 10 million tons. will the biden administration commit to protecting american steel producers from overseas manufacturers dumping dirty, low quality steel in the u.s. markets? >> congressman, that's a commitment to support american steel production against unfair production. part of our larger project of enforcing policies that counter act the race to the bottom that i think you described pretty adequately right there. >> thank you. i yield back. >> let me recognize the gentleman from ohio. >> thank you, mr. chairman. ambassador, i would like to echo the sentiments of so many people here, so grateful for your work. i want to congratulate you. i'm a physician. i'm a member of our doctors caucus here. we've been involved with "operation warp speed" since the beginning. had sure we weren't cutting corners. this was safe and effecti

david: european countries are not happy with the tariffs on steel and aluminum, and the president isthe g7 summit soon. do you expect we will see any news relating to those tariffs? gina: i expect robust discussions between now and then. the europeans are not happy, i have had discussions with my counterparts in the eu and they are our allies, europe is not a threat to american national security. china's oversupply and flooding their market and our market with cheap steel, that is a national threat and we need to work with europe to prevent china from doing that. david: some of your predecessors have done trade missions, and right now you cannot do that right now because of covid, but the administration has said, we do not want to greater access to foreign markets so people can build factories overseas. we want them to build them here. as part of your ethos, to build more here? gina: we need to do both. i plan to be active in export promotion. we need to help american businesses to export. we do need to continue to have free markets, even with respect to china. we need to do business

trends oversupply -- china's oversupply of chief steel -- e cheap steel it a threat. -- is a threat. i plan to be active in export promotion. we need to help american businesses export. we need to continue to have free markets. we need to do business index -- we need to do business and export in china. and my focus will be domestic . >> po expect at some point you will be going back to the way the department was run before? what do you think will happen. >> it will be like business. i think more from home -- work from home is here to stay. i hope it a few from now you will see the vibrancy -- in a few months from now you'll see some vibrancy here. to help more people get back to work and paying job. level the playing field so american workers and compete. ip policy that allows innovation to continue. helping start up companies the baking wall. all of that at the end of the day, americans don't want a handout. they just want a chance at decent jobs. i'm assessed with that. -- i am obsessed with that, i was assessed as governor -- of zest as governor -- i was obsessed as governor and i

stone aggregate used in the creation of steel. limestone. construction material stone. today, salt is mined in the great lakes region and carried by boat from city to city for road salt. they carry a variety of products. there are still boats on the great lakes that carry grain. grain silos on riversides across the great lakes place grain in the cargo hold of a boat and it will be shipped off the great lakes to the st. lawrence seaway. in many ways, if you took a photograph of a port like toledo or cleveland or milwaukee in 1911, the port would look chaotic. there would be hundreds of vessels operating out of that port on any given day. it would be different because they would be a wide variety of styles of vessels. in 1911, you still had hundreds of sailing vessels. schooners delivering cargo on the great lakes under sale versus a boat like the schoonmaker, which was operated with steam. we are now in the engine room. the engine room is of course where the power that is created to move the boat through the water comes from. originally, the colonel james m. schoonmaker

the uk s third largest steel maker, liberty steel has announced plans to sell off its stocksbridge steelwill hope it will satisfy credit suisse, but that does put into question the future of liberty steel, there's 5000 jobs hanging in the balance and the future of the whole firm is under question. stock press stockbridge is known for aerospace parts and is on the further to plans that would be a part of this sale and another 260 or jobs or so. but this is all to do with the fact that liberty steel cannot raise funds at the moment, they cannot raise money because they are sort of under the spotlight here. not only from a serious fraud office but also the financial conduct authority, the relationship between liberty steel and green silk sadist sale of this plant is not really that much of a surprise, and earlier i spoke to chris mcdonald and he is also not surprised by this move. i am unsurprised, the business produces very high quality aerospace deals. bud produces very high quality aerospace deals. �* , . produces very high quality aerospace deals. . , ., , , ., deals. and it is that lib

the steel tariffs that he put in place are still there, the tariffs on aluminum are still there, andiffs on auto products from china are still there. is there any insight on why they are still there? gina: although we do not agree with the way that the trump administration handled many things, one of the things is they brought to light the fact that our competition with china is serious, it is a strategic competition that will define our time, and president biden agrees with that. we are going to continue to play tough with china. we are going to continue to use all of the tools at our disposal to protect american workers and businesses from unfair practices by chinese government. the reason that we have not made those changes is really that, we need to continue to be aggressive with china. david: european countries are not happy with the tariffs on steel and aluminum, and the president is going to the g7 summit soon. do you expect we will see any news relating to those tariffs? gina: i expect robust discussions between now and then. the europeans are not happy, i have had many discu