and a lot of people in the u.s. government, u.s. companies are worried about supply chain risk, including geopolitical risk. we have the trade agreement with mexico. that is something to advance friend-shoring. how do you think about this trend? >> thank you. i think that we are true believers of trade in mexico. we just became the number one partner of the u.s. last year. about $800 billion in trade. if we are partner number one of the u.s., that means an incredible effort in both countries in order -- this trend. last year also mexico received the most important foreign investment -- direct shoring investment in its history. what is interesting is that many of the companies in mexico, besides -- is they are looking for human capital. if you look there speak with the people of tesla, they say that they found out that they would have -- in mexico that will work. that was one of the most important efforts to stop that investment. another thing i can say is that when mexico exports, we have 40% of u.s. previous imports. when mexico ex

u.s. and europe share a commitment to democratic values from individual liberty to the rule of law and from our response to the cold war to our response to russia's invasion of ukraine, we h for our citizens can live inng them free asse the benefits that brings. our alliance has bee critical to global peace and security. for decades, its strength has deterred those like otherwise who pursued aggressive action. we at it's the stability and securit enables us in the u.s., germany and throughou much of europe to live largely without of widespread conflict close to home and inve and plan for the future. our strong partnership has also brought tremendous economic benefits, not just indirectly from the security, but directly from trade and investment. the u.s. and e.u. are each other's largest trade and investment partners with two-way trade in goods a services totalling $1.4 trillion and combined foreign investment lling over $5 trillion. mi i germany, spain and the u.k. are one of countless ex

the u.s. and europe share democratic values from individual liberty to the rule of law. and from our response to the cold war to our response to russia's recent invasion of ukraine, we have repeatedly stood up for these values safeguarding them so that our citizens can live in free societies and realize the benefits that brings. our alliance has been critical to peace and security. for decades, its strength has deterred those who might otherwise pursued aggressive action. we at times take this for granted. but it's this stability and security that has enabled us in the u.s., germany and through much of europe to live largely without fear of widespread conflict close to home and to informs and plan for the future. the u.s. and e.u. are each other's largest trade and investment partners with two-way goods and service totaling $1.4 trillion and combined foreign direct investment totaling over $5 trillion. microsoft's recent investment in germany, spain and the uk are one of countless examples and

u.s.-european economic alliance saying it was critical to maintain stability. her remarks are about half an hour. >> i remain grateful to the frankfurt school for awarding me this honorary doctorate and today's program and i would like to thank the professors and minister for overwhelmingly kind words. thank you to all of you in the audience today, students, faculty and many others. as the professor described, i began my career as an academic and i greatly appreciate the opportunity to speak to those who were committed to thinking deeply and whose ideas shape policy. and that is the case here. the frank further school has, for decades, focused on putting ideas into practice such as through your partnership with the united nations environment program. and i understand this is also an institution that very much rooted here in germany is internationally oriented as well with students from five continents and nearly 100 countries. so i'm enormously honored to receive this degree. and i also be

guest: u.s. tariffs are still pretty low even though they are used a lot right now and have been the past few years. u.s. tariffs are still pretty low, the average is still 2% to 3%. now we have bigpike other countries, their average tariff can range from 5% to 25%. so india, a lot of theirif who thinks that s are a good idea? guest: it depends on who is in office. a lot of it is political. i think if you talk to any member o congress, any member oft, policymaker, no cameras around, it is clear it is a tax onmpimports, that is c. imports are intermediate inputs like primary goods, raw materials, capital goods, things that u.s. manufacturers need to so, i don't really think many people think that a tariff is a good idea. people are well-intentioned but misguid and feel that tariffs may help to balance our trade deficit. that doesn't work like that. host: our trade deficit is driven by macro factors. in the u.s. we have a pretty big propensity to consume anloensi . other countries are flipped. basi

the u.s.confirms the first deliveries of aid have arrived into gaza via temporary floating pier. president biden makes an appeal to black voters on the 17th anniversary of the landmark civil rights-era ruling that desegregated u.s. schools. hello, and welcome to "world news america." i'm caitrÍona perry. three israeli hostages taken captive by hamas october 7 have been found dead in gaza. israeli forces recover the bodies of itzhak gelerenter, amit buskila, and shani louk on friday. shani louk was confirmed dead at the end of october. the israeli army believes all three were killed at the nova music festival. they were among more than 250 hospitals taken -- hostages taken into gaza, of which roughly half are still unaccounted for. the idf expressed condolences to the victims' families. >> our hearts go out to them, to the families, at this difficult time. we will leave no stone unturned. we will do everything in our power to find our hostages and bring them home. we will not rest until we do.

u.s. job status according the case for rate cuts this year. the u.k., andrew bailey opening the door to a possible cut next month. the u.s. set to impose tariffs on chinese electric vehicles and strategic sectors in a sweeping decision to be unveiled by president biden as soon as next week. benjamin netanyahu says israel will fight on in gaza with or without u.s. support. this as washington threatens to withhold more bombs if her offerh -- rafah is invaded. it's been a good month for stocks and bonds after the stumble we saw in april. yesterday, the s&p top 5200. less than 1% of its all-time high. u.s. jobless claims jumped to their highest level since august, beating estimates and reinforcing bets on fed rate cuts. today, futures pointing to an even higher [inaudible] on both sides of the pod. you can see the impact of the u.s. data on other areas of the market. so the dollar yesterday was a touch weaker because of the labor market softness. currently a touch stronger. the two year yield

the u.s. in foreign policy and national security. we have seen maybe in our history. ms. adam smith, critical year for moldova. his homeland over will hold both presidential election and referendum on eu aspirations. moldova continue to face russian hybrid warfare putin stops at nothing to replace the pro-western leadership with duke of a button and paid for by the criminal. we cannot let putin paid a triplet public record puppeteer. margolis future is dependent on the success of ukraine on a battlefield. so at the extent between moldova and the russian attack is the ukraine army. one of the reasons why it support we continue to support ukraine. while vexations the se africa's most country terms of population, r-27 your absence in which we has greater a vacuum in the prc has been more than happy to fill so it's got the seychelles has geopolitical significance. it can from your face difficult task of his subject and embassy physically from scratch. that's not can be easy. we can't waste anymore

the u.s.lacklisting cause some problems, now there is nationalistic demand for phones in particular. one of the things for apple is they are struggling in china, trying to figure out how to revive demand, opening up new stores. we will see if they are able to talk about the future and prospects. other key things are the headset they introduced, they view that as a long-term that and they hope it will show promising results. they want to hear about apples ai strategy. we have not heard as much from them as microsoft or google and how apple is going to integrate ai. tom: on that, analysts pointed out the lack of clarity in terms of strategy. are we expecting details? do we have to wait for a big event? where do we stand? peter: we will get questions about ai. other companies have done more to articulate strategies. microsoft is the most aggressive. the ceo is in asia explaining how much they will invest in data centers, particularly in indonesia, india, malaysia, japan. apple will get questions

the u.s.nd china. >> i think it is good for the u.s. ecosystem to have a vivid and vibrant and ambitious european ecosystem it is in the best interest we need more europe. >>> european markets are on pace for their steepest daily drop in five weeks tracking wall street in the red as stubbornly high data throws the rates in doubt. >>> and janet yellen calls for g7 countries to tackle overcapacity as bruno le marie speaks out. >> the war in neither in the interest of the u.s. or china or any country in the world we need an assessment of the situation. >>> hello and good morning we've got a busy show ahead of us let's get rolling here elon musk insisting he does not support the biden administration's announced tariffs on chinese evs this after washington slapped a 100% border tax on chinese evs in response to what it said was unfair trade policies by beijing. speaking to karen at the viva tech, musk said it will be competitive without incentives >> neither tesla nor i asked for these tariffs. in

the u.s.akers are bitterly divided over president biden's remarks putting conditions over shipments to israel after the u.s. suspended sending some heavy bombs to israel over concerns about protecting civilians in southern gaza. in a rare warning from mr. biden wednesday, he reserved the right to suspend further u.s. arms shipments should israel proceed with an all-out offensive into rafah, saying the u.s. will continue to support israel's right to defend itself but when it comes to the rafah ground operation, the u.s. is "walking away from israel's ability to wage war in those areas." in response republican lawmakers wrote an open letter calling on the president to immediately end the blockage saying security assistant to israel is critical to the defense of the u.s. and the free world. republican senator lindsey graham has called the decision to halt arms absurd. >> i just want to emphasize one thing, this is all about president biden and lloyd austin trying to take over the war from israel.

. >> the u.s. tariffs are still pretty low, even though they are in the news a lot right now and have been the past few years. the u.s. tariffs are still pretty low. the average is still about 2% to 3%. but now we have these big spikes in key sectors. other countries, their average tariffs can range anywhere from 5% to 25%. some countries like india , a lot of there are will go up to north of 35%. >> who thinks tariffs are a good idea? >> you know, it depends on who is in office. a lot of it is political. i think if you talk to any member of congress or politician or policymaker one- on-one, if it is just the two of you with no cameras around, it is pretty clear that tariffs are a tax on imports, and imports, that is consumers. consumers are also businesses. half of u.s. imports are intermediate inputs like primary goods, raw materials, capital goods, intermediate inputs. things the u.s. manufacturers need to make stuff here. i don't really think there are many people who think a tariff is a good i

the u.s.ghed in on george's new law with the white house press secretary saying, we have been outspoken about our concerns with the legislation, which runs counter to democratic values, adding that, if this legislation passes, it will compel us to fundamentally reassess our relationship with georgia. the former u.s. ambassador to georgia served in that post from 2015-2018. thank you for being with us. supporters say this is about preventing outside influence on politics and others say it will clampdown on dissent. what is your view? >> my view is that it is a tool that the georgian dream ruling party wants to have in order to suppress opposition. of course, the russian federation did pass a similar law in 2012, which they did used to not only suppress the opposition but destroy it or force it overseas. the vast majority of georgians want to see georgia join the eu, join the west, as your correspondent said. this law, in addition to other movements by georgia in the past couple of years, takes

u.s. shell entities, i'm sorry to say. in 2021, treasury secretary yellen's head, there's a good argument that the best place to hide and launder ill-gotten gains is actually the united states.". yes, the u.s. has allowed cartels, terrorist groups, rogue states, chinese money- laundering organizations to use phony u.s. shell corporations and their illicit schemes. these shell companies may exist only on paper, but they enable deadly threats to americans lives and security. nearly 108,000 americans died of overdose in 2022, according to the cdc. 436 were rhode islanders. the death of those 436 people ripples across my small state in a tide of heartbreak. fentanyl and other synthetic opioids are behind many of these deaths. fentanyl's death toll was the direct result of shell corporations. shell corporations that hide the delivery of precursor chemicals and shell corporations that hide the profits from sales. what doj indictment last year design a network of shell companies in wyoming to lau

topics include u.s.-kenya relations, climate change, and the importance of public-private partnerships including investments from google, microsoft, and a mastercard. ♪ >> [speaking another language] so what a wonderful morning this is been of a fantastic visit, these findings are just the next step in an important journey together between the united states and kenya, and to the leadership of the chamber, suzanne clark and the leader of the chamber to our incredible and talented ambassador meg whitman, to our secretary of commerce gina raimondo, you have laid a wonderful foundation for a successful day here, and i was thrilled to see my friend, an accomplished and talented business leader a part of today's developments. kenya is a special place for me because 40 years ago i was a student at the university of nairobi, and i just this year had a reunion with these students as we reflected about the impact kenya had on each of our lives, but there is a positive trajectory today that is in large part because

u.s. system. further russian attack as the u.s. allows ukraine to use u.s. weapons and limited strikes on russian territory. hello, welcome to world news america. i am caitriona perry. joe biden is urging leaders of israel and hamas to accept an israeli cease-fire proposal, saying that it's time for this war to end. in a speech on friday he set out a roadmap for peace broken into three phases, including a permanent cease-fire, with the withdrawal of israeli troops from gaza, the return of hostages held by hamas, the rebuilding of gaza. the u.s. has been working to negotiate an end to the war in which more than 36,000 people in gaza have been killed according to the hamas health ministry. an attack by hamas and palestinian armed groups in israel on armed -- on october 7. he called on the group to accept it well urging israeli leaders to stand behind the proposal. with the u.s. president says is a decisive moment. pres. biden: i know that there are those in israel who won't agree with this p

the u.s. inflation gauge slowdown reinforces fed cuts as early as september. wall street stocks closing at fresh record highs while bond yields retreat. japan's megabanks forecasting record net income as the boj moves away from negative rates, seeing a combined windfall of $21 billion. and china tech earnings on the way. we'll bring you jd.com and baidu results. haidi: take a look at how we are setting up in asia, set to rally after u.s. stocks and bonds climbed on indications of slowly but surely slowing inflation data from that cpi print. the takeaway was that potentially provides affair with a little more room to start easing sooner, even as we've heard from jay powell that in the face of lacking evidence of disinflation or pressures that we may be staying higher for longer. it's a pretty robust set up, sidney futures up about .6%. a pop when it comes to trading in new zealand, nikkei futures looking perky there as well. fresh highs for each benchmark there as well. watching hong kong as a

cvs, the u.s.oesn't buy a lot of chinese ev's but there will be trade diversion of chinese exports to other places. whether that is south america, europe, you are already seeing south american companies -- countries putting tariffs on chinese goods. will there be a trade reaction from other countries as u.s. actions cause a reshuffling of where goods are traded around the world? this is an effect from china. tom: that is interesting. it is a trend that we will watch. how do you think about characterizing this? is this a new normal or a step up in tensions, or the start of a new trade war between the two powers? james: i think the new normal, this is the new normal of increasingly separated trade blocs. the u.s. is setting up a system where they have created a defensive wall around the sectors. they identified as strategic. so chinese goods are limited in how much they can sell into those. you see that in solar panels and ev's, batteries where the trend is over the next few years, rules will mean th

will the u.s. is moved away from negotiating traditional trade agreements, singapore has charged ahead, you've not implemented 27 fta's. within singapore do you think of those is just part of your economic agenda or do you also think about them as part of a foreign policy tool? >> well, i would start off by saying that trade is three times the gdp in singapore. we obviously know the position i will take. i believe in the rules-based trading system. how it was forged by the u.s. coming out of world war ii and has over the decades contributed i think, immensely to international stability, economic growth, allowing countries large and small to repeat efficiencies of scale, productivity, dividends from innovation and someone. i think in our part of the world, seeing how trade has fueled domestic filament, but also regional, even global integration amongst economies. when we talk about foreign policy, domestic support for foreign policy is really important. that is for every country. i think trade has f

u.s. political landscape ahead of the presidential election. china's factory activity unexpectedly shrinking this month. a warning signal from the case after driving the economic recovery. plus, slides as investors worry about what kind of coalition may end up governing south africa. we got an election update live from johannesburg. and of course, we have a great lineup of guests joining us here this hour at the shangri-la dialogue front in singapore. u.s.-china relations, this on the back of rising geopolitical tensions in the south china sea in the taiwan straits as well, front and center. that handshake expected at 1:00 p.m. local time with the defense chiefs in both u.s. and china are expected to make. what is the significance of that? we will bring your commentary and assessment very shortly. of course, the nsa director will be our guest for an assessment of relations between the two sides. let's get you to markets. it is about weaker than anticipated data out of the u.s.. front and c

you look against u.s. futures and we did see u.s. expectations overnight, softness in personal spending. concerns around the health of corporate america perhaps. we did see weakness but so far we are not seeing that translating so far. there are political risks to consider as well and that could of course play out over the coming months. haidi: really interesting. we know a lot of these markets tend to look at the colorful list of -- colorfulness of u.s. politics but this is historic, donald trump the first former u.s. president to be convicted of crimes. this verdict creates a daunting political and legal path ahead as he shapes up to take on president biden in november. jeannie, as we were chatting about, we are in uncharted territory. it is your assessment of the implications of this and how we proceed in terms of the various scenarios going forward? jeannie: uncharted territory is the best phrase to describe this. we are sort of coming to the realization we have the presumptive nominee of a major political party who will be getti

u.s. business to disperse about on the fed holding interest rates until at least december. sec approves trade products tied to ether, opening the door for a spot etf, and we are live at the g7 finance meeting in italy where ukraine's allies are wrestling over a deal to use frozen russian assets to support kyiv. we will be speaking to a secretary-general later this hour. let's check in on these markets, global stocks at bonds up for weekly declines. the good news on the data front, bad news for the markets team is a back with u.s. activity data. composite pmi, services, and manufacturing strengthening the most, composite and about two years. that led to a selloff on wall street. european futures, a losses of point five of 1%. consumer confidence picking up for a second consecutive month in the u.k. losses across the ftse 100. s&p futures looking to modest gains after losses of yesterday. nvidia was the bright spot yesterday across the u.s. equity space with gains around 9%. let's have a loo

u.s. agricultural export and robust international trade is a priority for our farmers. u.s. soy is actively working in 112 markets across the world to introduce new customers to our high quality, high protein crop. opening new markets has been one step followed by time, attention and long-term relationship maintenance to ensure market access. our trading partners are all critical to the success of u.s. soy farmers but no expert compares to china. in the last marketing of the expert value of u.s. soybeans totaled over $32 billion. china accounted for nearly $19 billion of this total. for perspective, the next largest destination by value totaled approximately $3 billion. the sheer scale of china's demand for soybeans cannot be replaced and an farmer turns one in every three rows grown in the u.s. and ship to china to fill demand. during the 2018 trade war, u.s. soybean exports to china came to a halt and an estimate of the impact of retaliatory tariffs on u.s. agriculture, the usda found th

and the u.s.exposure to the u.s. equity market that seems to be more confident given the rally in the run-up that we've seen for the stock markets. those that don't have that exposure are feeling much more glum. you have to break it down to see a picture of u.s. consumer. you are getting the fed out later today in terms of building out picture of the resilience, the relative resilience of that u.s. economy. if we are starting to see cracks, we see this across global bond markets in the session today is the lack of demand, the relatively tepid demand for the auction. $70 billion with a five year options. two-year auction than a five-year. it was the weakest demand in over a year. seven your auction later today, leading concerns to some to leave to the yields and treasuries. more demand for higher yields. softer demand, higher yields and that potentially is a concern. we think about the cutie operations of the federal reserve only saw eight basis point move in terms of benchmarks. let's flip the boa

topics include u.s.ya relations, climate change, and the importance of public-private partnerships including investments from google, microsoft, and a mastercard. ♪

u.s. soy is working in 112 markets to introduce new customers to our high quality, high protein crops. opening new markets is followed by time, attention and maintenance to ensure market access. our trading partners are all critical to the success of u.s. soy farmers but no export destination compares to china. it totalled 32 billion china accounted for $19 billion. the next largest destination by value totalled $5 billion. farmer terms one in three grown in the u.s. is shipped to china to fill demand. during the 2018 trade war, u.s. exports came to a halt and and retall tower tariffs and the value of u.s. exports to china decreased 76% from 2017 to 2018. it estimated the trade war cost u.s. agriculture over $27 billion. soybeans accounted 71% of these. this has had major consequences for u.s. soybean growers. as a result of the trade war ramped up production to meet demand. and in the 2017 and 2018 marketing year, brazil over took the largest producer of soybeans. our farmers are facing c

looking at how u.s.k assets are trading, this as we continue to look for market reaction to the historic news that donald trump has become the first former u.s. president to become -- be found guilty of criminal charges related to the hush money payment to a porn star. this models the outlook when we are just five months away from election day in the united states and the implications of when the sentencing will happen, what it will look like and how it complicates his path to return to the white house. u.s. futures, s&p futures a little softer ahead of inflation data. this is bl haidi: donald trump was found guilty on all counts in his hush money trial. let's talk about the verdict with our reporter in new york. really great to have you with us. talk us through this uncharted territory when it comes to where we go from here. was this a surprise and where to be go from here in terms of the expected sentencing? david: i would say it was not a particularly surprising verdict for those who sat through the t

s u.s.epartment report criticizes israel's conduct in gaza but stopped short of recommending the u.s. holt weapon supplies. russian forces launch a surprise attack on ukrainian territory. in a bid to tackle immigration at the southern u.s. border, the biden administration introduces new rules to speed up certain deportations. ♪ welcome to world news america. we begin with breaking news. the u.s. has released a report to congress finding israel may have used american supplied weapons in breach of international humanitarian law in some instances during the war in gaza. the document says the u.s. government does not have complete information to verify its assessment. it also says this by israel not fully cooperating with u.s. efforts to get humanitarian aid into gaza, it does not currently assess israel is prohibiting or restricting the transport of aid supplies. the report culminates a difficult week for u.s. israel relations. president biden saying the u.s. could suspend certain arms shipment

the u.s. seeks to cut its access off to cutting edge tech. annabell: tensions rationing higher in the middle east as israel calls a deadly airstrike on a gazan refugee camp a tragic mistake. haidi: take a look at how we are setting up. a pretty slow start to the week when you consider we have had u.s. markets on a holiday. a number still not trading but this is the picture as we set up in asia. sidney stocks up .1% when it comes to futures. muted gains. could see a boost. some of the other china related assets look more muted. huge tranches of global inflation readings. the u.s. cpi gauge will affect market expectations for the fed. chicago nikkei futures up .5%. a little upside in hong kong. shanghai futures are on the rise. annabelle: as you say, not a lead-in from the u.s. because the markets are shut for memorial day. in the european session, we saw shares edging higher. you put that in combination with the signaling in asian equities. if you see a bit of upside potential coming through, m

of the u.s. chamber of commerce, business leaders and executives of u.s. corporations, ladies and gentlemen, on behalf of my delegation i thank you for the excellent work they have put into the preparation of this breakfast meeting. i'm delighted to have this opportunity to share with you various opportunities to leverage the strongin during and dynamic -- strong, enduring kenya and u.s. relationship and further enhance the partnerships between our business communities. this gathering comes just a month after the summit of 2024 in inside robbie. at -- nairobi. in that summit many of the entrepreneurs i see had a platform to collect and and interact with their counterparts in africa. this want gives us yet another chance to reflect on the outcomes of the nairobi summit and deliver in the way by which we can inject momentum into the bilateral trade and mac mac use them. we had a number of government to government and government to business deals and while additional agreements were unveiled earlier

the u.s. aid supplies have crossed into gaza. the president of china continues his european tour, making his stops in ties -- countries with strong ties to russia. ♪ macon. the u.s. has it the latest shipment of thousands of bonds to israel last week over concerns with military operations and rafah. joe biden is opposed to a ground invasion in the southern city of gaza. most palestinians are already displaced from other parts of gaza. the u.s. still says it has not seen a plan from israel. military aid consisted of thousands of bonds. the u.s. is by far the largest contributor of military aid to israel. since 2009, the u.s. state department says it has provided israel with three point $4 billion in aid each year. president biden asked congress for $14 billion in emergency aid for israel. the congress did not agree on a package until april, when it passed legislation giving israel $17 billion in military aid. the u.s. defense secretary told members of the senate that the department is now consi

u.s. futures currently flat after the losses of 1.6% on the s&p yesterday, the worst drop since january. the dollar strengthening. again, concerned leading up to the meeting on the stickiness of inflation. u.s. futures as i mentioned currently flat. u.s. futures flat. the u.k., one of the few markets in the region that is open today. nasdaq futures pointing lower by .3% despite the decent numbers that came through from amazon with a focus on aws, the cloud part of the business with the ai component. let's flip the board. the two-year yield back above 5%. the dollar strengthening again. and the wrecking ball of the u.s. dollar and in concern and pressure many global fx and currencies. two-year back above 5%. in the oil space you saw a drop in brent prices of 1% yesterday. of course the focus on the talks around a potential cease-fire in gaza. that is all factoring into the oil space. brent down. bitcoin had a terrible month, falling 16%, the biggest drop monthly since the collapse of ftx on

the u.s. cpi numbers. asia stocks are treading water. although we are seeing a bump up on the hang seng. keeping in ai on the offshore you on as it moves toward the 724. in keeping in ai on the japanese currency, along with jgb's. we got the boj in today's purchase, reducing the number of bonds for five to 10 year. this, as some say, a test balloon for scaling back its bond purchases. take a look at the data out of china. this is a broad measure of credit. it has declined for the first time since 2017. this is when the data first started being -- the concern here is the pboc's ample liquidity that the household firms are not biting, adding to the list of concerns related to china. paul: thanks very much. staying on china. bloomberg has learned beijing plans to start the sale of one trillion yuan and ultra long bonds that will begin friday. an economist joins us with more. $140 billion, sounds are in you on. what is the money going to be used for, and is the demand there to soak this up? david:

the u.s. revokes licenses allowing huawei to buy semiconductors from qualcomm and intel, further tightening the screws of chinese tech giant. in indian stops -- stocks jumped to a tiredness -- highest on signs that modi's ruling priority may win fewer seats than expected in national elections. let's get you to markets and how markets are faring in asia. avril hong is on top of it. it seems that markets are looking for catalysts to go higher and finding none. avril: they are looking for something that will push the momentum as you well know. in the month of may asia stocks have done a pretty decent job in recouping that april route. this is thanks to fed optimism, as well as pretty solid earnings out of the u.s. as we saw overnight, u.s. stock string of gains has stalled. asia stocks, a struggle for direction and the clients are being led by japan where we are seeing strength is in the u.s. dollar. that's putting pressure on u.s. currencies. put the board. i wanted to show you some of the stock

max, head of u.s.ity research at ubs. >>> let's get back to the corporate stories here as i alluded to, bhp has walked away from the 39 billion pound pursuit of anglo american after the six-week offer where it raised its price. bhp's desire to sell off the iron ore operations ran away from the board who called the plan highly complex and unattractive. anglo american shares off 9% this morning. we saw bigger losses in yesterday's trade. bhp, you would see relief for the acquirer here. not really happening this morning. shares are off by roughly 1%. >>> china's foreign ministry has call on the eu to end the probe into chinese electric vehicles amid reports russells will postpone any tariffs on until after the european elections on june 9th. the ministry claims it is unreason able and not in line with international rules. a commission spokesperson told cnbc the investigation is ongoing. >>> auto trader has posted a pre-tax profit of 345 million pounds per year and revenue climbing to 571 million pounds be

it's important for the u.s.to strengthen their footprint on the african continent at the very moment when the polls the t shows that the u.s. has lost their leadership position in africa's heart -- in africans hearts. the chinese now surpassed the united states and russia is growing and growing and recorded the biggest and highest increase inrity among the global powers on the african continent. what are t concerns with you is losing their presence there and t countries, specifically china and russia? guest: kenya is supposed to be a tr forhe u.s. and that's where the polls are the most hard. it was important for president biwh promised travel to the continent unliks predecessor who did not. there is many hotspots on the afn e u.s. has experienced a bad situation. for example in nig, the u.s. military and troops have been asked to leave the country. st important military debate in the region. u.s. to be therek in some way we visits. a lot is going on today. there is an important meeting on hoe and congress. even

the u.s. nato bombing of the chinese embassy in belgrade 35 years ago, submitting those ties with the belgrade government. now this one to hungary will really bring all of the issues together where we are expecting xi jinping and the government of viktor orban to sign more than a dozen agreements. a lot of them will be in the priority industries xi jinping is pushing. the so-called new three including electric vehicles. already bite -- byd in december announced it would build its first european plant in hungary. if that is underway now. we are expecting possibly another even bigger ev plant to be announced at sometime today. assigned with great wall motor. see atl, the big battery maker, is also building a big battery plant in east hungary. clearly victor or bond costs -- victor or bond is welcoming chinese investment with open arms and he has also been at odds with other european union leaders especially over its stance on russia. he has open arms with chinese investments. there is this belgr

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the u.s.s sprint. it's not just the optimism we had in the u.s. equity session on friday and over the course of last week, but something else that could hurt asian equities is what we get in china because we had mainland markets that were shot for the past three sessions last week. golden week holiday of course. and during that period, it was a very good run-up for hong kong stocks in particular actually entering a technical bull market. it seems perhaps we have found a footing for the chinese economy, some science perhaps that consumption is picking up somewhat. really, things seemed a little bit primed for hong kong stocks or chinese stocks looking to ride on hong kong's coattails perhaps in the session later this morning. haidi: one of the other things bloomberg intelligence is looking ahead to is the delay to be held in july. it was supposed to be held by the end of last year and any kind of policy cues from that could see the extension of this optimism that we are finally seeing and it is

the u.s. dollar. we will do a deep dive on the japanese yen in a minute. a challenge once again in terms of the emfx space. 4.83, two-year, brent $82 a barrel, down 0.6%. we keep an eye on the stockpile buildout in the u.s. and geopolitics. $82 a barrel on brent, gold at 2318, a little puff for the yellow metal. let's cross over to avril hong standing by with the earnings story in singapore. what are you looking at this morning? >> just what you just outlined there, as we see that winning streak of four straight sessions being snapped, tracking wall street performance, the declines being led by the nikkei, as it slumped about 1.7% at one point. this was no thanks to the declines in tech stocks, but also as the focus shifted towards the earnings, as we had the automating document -- auto making giant toyota reporting. the sector is declining. the numbers show the miss on the outlook for the full year. this is no thanks to the production cuts related to the safety scandal. the stock slumped as m

two u.s.ar-old jovokhir attoev of uzbekistan crossed into arizona in february 2022 where he was apprehended and vetted by both customs and border protection and i.c.e. he was not on the u.s. terror watch list and was released into the u.s., those sources tell us, then in may 2023, uzbekistan put out an international attoev was affiliated with isis and wanted there. but it took nearly a year for u.s. officials to figure out the suspected isis member was living freely here in the u.s. u.s. officials tell us dhs made the alarming discovery after reviewing attoev's application for asylum. shortly after they connected the dots, he was arrested in baltimore two weeks ago. former homeland security officials tell us his case raises red flags about the vetting process for migrants after they cross the border. >> should alarm bells be going off here? >> we are in the midst of a really volatile threat environment. any time i see a gap in a system like we are seeing in this case, i do have concerns. any t

we know the u.s. is working with allies and partners, particularly at the u.n., and through the un security council resolution on this issue. to start off, could you tell us more about what the u.s. assesses that russia is developing, and how is the u.s. working on this threat? asst sec. stewart: thank you all. really happy to be here today. the united states is extremely concerned that russia may be considering the incorporation of nuclear weapons into its counterspace programs based on information we deem credible. the united states has been aware of russia's pursuit of this capability dating back years, but only recently have we been able to make a more precise assessment of their progress. russia has publicly claimed that there satellite is for scientific purposes. however, the orbit is in the region not used by any other spacecraft that in itself was somewhat unusual, and the orbit is a region of higher radiation than normal lower-earth orbits. but not high enough of a radiation environment to al

u.s. inflation print but traders seem to be interpreting it as a risk-on event. haidi: particularly after producer prices showed stickier inflation. we heard commentary from jay powell suggesting higher for longer is still where the narrative is. this kind of push and pull between fiscal and monetary policy is present here in australia with this budget that delivers subsidies to just about every household how is that going to potentially translate into that inflation battle being won? annabelle: certainly could complicate the picture for the rba moving forward. we have the opens of japan and australian. south korea shut today for a public holiday as is hong kong. japan coming online this morning and we are in the thick of earnings season for japanese companies. lots of different announcements last week and this week. today the focus is very much on the japanese financial companies because we have the likes of mitsubishi and more, all releasing their numbers. nomura also one we are tracking