stephen carroll will tell us what is going on in business. ♪ the french call them heroes.hey received a medal of honor for their bravery as they restrained a terror suspect. he embraced the three. take a listen. against attack, even if it appears excessive, barbaric, something can always be done. the government in france in europe to take the necessary arrangements, and even beyond the necessary measures which must strengthen. there is always one's individual responsibility. things a man or woman can do in certain circumstances. douglas herbert has attended the ceremony and tells us how emotional it was at the palace. douglas: the three americans and one briton who subdued and assailant on a train last friday may not call themselves heroes, but the president, francois hollande, definitely does. he awarded them today with france's highest honor, the legion of honor. it is something that fewer than 1000 have received since napoleon bonaparte created it in 1882, specifically for services rendered to france. francois hollande saluting those services today, saluting what he sai

our very own stephen carroll is with us in the studio. we are going to start with ukraine. it has reached a deal on reducing debt. stephen: that's right. the ukrainian government says it has agreed to a 3.5 billion -- $ 3.5 billion reduction in debt, a 20% haircut on $18 billion of its debt, half of what kiev had been seeking. the agreement comes after months of fraud negotiations with private bondholders. reducing the debt burden is seen as crucial to the country's international bailout. we can speak to our correspondent, gulliver cragg. is this a good deal for kiev? gulliver: absolutely. you said it was half of what kiev was demanding, but i think that was in kiev's wildest dreams. this is better than what a lot of analysts in both the united states and ukraine were expecting, $3.8 billion that they don't have to pay back. thisding to economists, allows them to defer payment until -- ukraine is also offering securities in a form of percentage of its growth after the year 2021. that is obviously a few years down the line, but it was an offer the creditors will they could ac

it is time for business news third stephen carroll is with me. we are going to start in china, because it has been another rough day on the market. steve got the shanghai -- stephen: the shanghai composite finished down over 6%. more than 1000 companies in shanghai fell to the maximum daily limit of 10%. the government possibility to manage the market. strict control of chinese shares lost more than one third of their value between june and july. there is no clear reason for today's market plunge. it is partly be earned to fears of the currency to devalue further. aurore: what about the rest of the markets? how are they doing? stephen: here in europe, it is not such a great day for shares. there are falling shares in china, mining companies in london. aurore: here in france, the ongoing dispute about pork prices. stephen: the government was forced to introduce minimum pricing for pork after farmers complained they were not earning enough to live on. but the price that has been set ,s being said to be too high and it is impossible to compete with f

stephen carroll is here with it. open again after being closed for five weeks. stephen: a pretty sharp plunge on opening day at almost 23%. things have come back a little bit since that, since the open. this is the first time that investors have had a chance to react since the referendum held and the bailout on june 28. there are some restrictions on share trading mostly preventing greeks from transferring money from their bank accounts into the stock market. let's go to london and speak to michael houston, chief market analyst at cmc markets. take us through what is happening in athens today. it's a pretty dramatic selloff. michael: yes, good afternoon. it's not altogether a surprise this plunge in the athens stock market. they've been off for five weeks now. they were suspended just prior to the end of june. and the imposition of capital controls. the economic data out of this morning, we saw the extent of the damage to the greek economy. manufacturing, pmi, dropping to an all-time low of 30. 50 is essentially stagnation. 51 is expansion. below 50 is contractio

stephen carroll with business on "france 24." it is time for today's "press review." it.e lupton is here with we will begin in southeast asia with this press review. jim thome it is on the front pages of the music in that country. if we look at the myanmar times, onries on the front page -- that front page, it says ministry seeks foreign aid. right in the center, underneath, it says "mission by the ministry of foreign affairs, that the country's emergency response to the floods has been weak." inside the paper, "the times" spotlights the political consequences of the flooding. the electrical -- the election commission will give in provisional candidates because they have not had time to complete the finalists. we have in part shut down because of the slump. it will be critical. stuart: how is that playing out in the rest of burma? myanmar,e new light of published by the ministry of information -- there you say they have a story on the front page. they mentioned not one word about the government weakness for their admission of weakness. inside they have a lovely little

stephen carroll has joined us in the studio. china still causing havoc on the world market. tell us what the latest figure is. stephen: we will go through what happened in asia this morning. the chance for the asian markets to react to what had happened yesterday. we were talking about the interest rate cut by the chinese central bank. shanghai had a bit of a roller coaster day. up by 2% at the break, closed down 1.3%. nothing like the falls we have seen in recent days. down 8.5% on monday. things are calmer in terms of the size of the fall of the chinese market but it is still not a great day for them. there was recovery in tokyo. markets not share too pleased by things that are happening in china. european markets trading down. .5%.d . >> it does not look like the crisis is over. stephen: not for the moment to read are waiting to get some sort of idea what the chinese authorities are going to do about the slowing economy. this is what fuels this crisis, fears over china's economy slowing down. is beijing going to step in with some sort of stimulus measures? try to doonal mo

let's now turn to the day business news with stephen carroll. hello. we are going to stay with one of our top stories, and that is the series of explosions in the chinese city of tianjin. a major gateway for imports and exports in china, also home to one of china's economic zones that was set up to attract foreign companies. many of those firms have been forced to temporarily close their factories in the wake of last week's blast. that could have -- that could tend -- taint china's reputation. >> a thriving economic hub thrown into turmoil after last week's multiple explosions in the chinese port of tianjin. the repercussions are expended to be that are selected to be extensive. >> the event is likely to be large with initial insured loss to $1.5s of $1 billion billion. atof the carsd the toyota factory in tianjin were damaged, and the plan will be closed until thursday. with at least seven pharmaceutical factories located within the blast site, it is likely they, too, we'll be hit hard by china's worst industrial explosion in recent history. tianjin i