u.s. commerce secretary gina raimondo telling our jim cramer u.s. with china . >>> and chevron holding final labor talks. if they don't meet, the union will have plans for a full strike next week. >>> here's what to watch today. weekly mortgage application numbers are out. that's followed by the trade deaf silt at 8:30. services at 9:45 and the services index at 10:00. look for game busters and game stop. the fed beige book is out at 2:00 p.m. eastern. we hear from boston fed president susan collins before the opening bell and dallas fed president lorie logan this afternoon. >>> turning our attention back to the markets, the s&p 500 is up 17% this year and is a little more than 6% off of its record kloss back in january of 2022. barry bannister says it's exceptionally unlikely the s&p will hit a new high this year which will require very favorable earnings and favorable conditions. he expects the year to end at 4400, 2% lower. let's bring in patrick fruz fruzzetti. what do you think? agree or disagree? >> i think it's very fair. august was the week

u.s. commerce secretary was visiting china. it caught the industry by surprise and reignited debate over cheap technology. while users were excited about its performance, attention quickly turned to what is powering the device. semiconductor researchers and tech insiders investigated the phone and found it uses a processor made by china's smic, in spite of export curbs imposed by the u.s. >> china is within a couple of real notes of the most advanced manufacturers in the world, and even close to a note of where the u.s. or eu is. this is a major accomplishment on their part, and it really shows the engineers working with china what they can do. >> what does this all mean for the rest of the world? >> it means the rest of the world is going to have to run harder and faster, which is always the case with technology. if you know something can be done, it is at lot easier to copy it and chase after. that has been the history of technology. it was once said that whatever can be done can be outdone and you just have to make sure you

u.s. commerce secretary says the funding debate has businesses on edge. what businesses need to be successful is predictability. predictability, some resemblance of regular order. so these sorts of disruptions that are mainly driven by politics, it's a challenge for the economy and have the potential to set us back. >> the senate does return this week. the house is back on the 12th. >>> welcoming up, burning man has put out a survival guide after rain turned the festival into a swamp. what organizers are doing to get people out. >>> and the spartans are playing on the big stage. we'll tell you how they faired against oregon state. salolonpas lidococaine flex. a susuper thin, , flexible p h with maxaximum ototc strengthth lidocainee ththat contoururs to the b by to relelieve painn riright where it hurts.. and did d we mentionon, it re, really stiticks? salolonpas, it's's good medidi. >>> welcome back. probably heard the burning manifest value turned into a nightmare if nevada after torrential rain and flooding left thousands of people stuck in the desert.

u.s. commerce department regarding negotiations for data privacy framework and it looks like things are coming to the culmination. could you give us an update? also, we note the data privacy framework is reported -- has received criticism in europe from ngo's and members of the european parliament, how sustainable do you think the new framework will be? are another legal challenge? -- expecting another legal challenge? lucrezia: thank you. good morning everyone. i should say i'm speaking on my own capacity so whatever i say cannot beat me to the commissioner -- mitigated by the commissioner. expanding our process and most important steps as you correctly said, we are presented job decisions some time ago. this decision being assessed by european protection law, european network involved in authority. they have express an opinion. also, european parliament has given an opinion and after that the procedure for sees the text omitted to the court -- submitted to the court of the 28 member states and after that subject to the approval by 28 member states that european commissioner can adopt the dec

u.s. commerce department and asked if the seven nanometer tech is within the balance and they did not replycaroline: it is a question mark on a global countdown on china's access to the sort of technology. does it leave question marks? ian: they are not going to comment about individual actions they take against a specific company. that is their policy. we find out when it gets announced and they have taken action we will see what happens there. we wouldn't expect them to talk about it right now. ed: we did learn about where china is at in its technology competence. there is this idea that it is seven nanometer but this so that handset out quickly and that indicates to us that even though it is two generations from the cutting edge that they are not making seven nanometers at the scale. ian: this is a conversation we had last week. you can make a few of them and you are good at the technology but the real art is to make tens of millions or hundreds of millions of these things. we really need to see whether they can do that or not. if they can come up and is definitely a red flag, warning or

u.s. commerce secretary's casting doubt on the country's ability to build advanced tips at scale.an advanced seven nanometer set made by china's -- our chief north asia correspondent stephen engle is in hong kong. the u.s. has launched an investigation into the chinese chip, what is the latest? stephen: we do know that while way is targeting 15 million sales of the handset of this mate 60 pro, the new smart that has the smic chipset. the care and 9000 s chip which is the advanced seven nanometers technology. they have 15 million handsets targeted this year for that phone. that could go up according to annulus to 70 million by next year, 2024. but gina raimondo in congressional testimony in a hearing on capitol hill casts some doubt on whether china has the scale to make a lot of these chips. at scale essentially. this is raising questions, the mate 60 silicon it raises a lot of questions in particular in washington about the efficacy of u.s. led global campaign to prevent china's access to cutting edge technology. last week a group of republican lawmakers demanded congress to full

u.s. commerce department revealing new rules on chip makers.ompanies receive government funding. >>> striking writers in hollywood with ceos are leaving two days of negotiations without a deal. both parties are expected to return to the bargaining table today. >>> bob iger's talks to sell abc and other disney is overexaggerated. disney up in the pre-market right now .50%. >>> kevin mccarthy sending house members home for the weekend after failing to come to a deal yesterday. he said to prepare for a shutdown next week. >>> and dave mccormick is launching another bid for senate in pennsylvania in what could be the most expensive and closely watched race. >>> here is what to watch on the data front. flash pmi and flash services pmi. we have several fed speeches on tap including lisa cook and susan collins and san francisco president mary daly and neel kashkari. we will watch the auto workers deadline for serious progress and talks with the big three automakers and apple's iphone 15 officially goes on sale today. steve kovach live in new york with

u.s. commerce secretary ray mondo says there is no evidence that chinese phone maker huawei can make advanced at scale. she was upset that they raised the phone during her chip last month. washington has opened an investigation into the chip export controls on the country. a default looming for country garden with bondholders left in the dark. an update that is on your way next. next. this is bloomberg. ♪ rishaad: country garden is in focus, there is some optimism, but again that has been dissipated because the developers past an initial deadline to pay dollar bond interest. but to creditors tell bloomberg they have yet to perceive -- to receive the money. for country garden, this keeps on going, the dollar coupon came and went. and essentially, they are fiddling around with a timetable of their debt. >> the onshore bond extension offers some breathing room. we have been seeing country garden repaying the dollar bond coupons. it shows the developer has the will to avoid a default. and with the upcoming coupon payment, i am not too concerned, it is still a small amount. the company has a recor

u.s. commerce secretary, making trips to china within the last week or so. he was expressing was the concern that u.s. businesses have difficulty doing business in and with china because of the uncertainty around the regulatory and policy environment. there is another ongoing conversation in washington about the world of chips and advanced technologies and the likes of huawei getting access to those chips. that's a big focus of conversation for republicans on capitol hill. jon: thanks very much. we will continue to track this story. earlier today, erik schatzker spoke exclusively to the canadian prime minister justin trudeau who says relations between his country and china have been challenging of late. >> the way it has always been framed for our allies whether it's in europe or elsewhere is the desire of access to markets, particularly the growing and engaged chinese middle class that represents a tremendous benefit for us. over the past many years, there have been lots of friendly and sometimes less than friendly competition between allied countries whethe

u.s. commerce department and they have not responded. ng about semiconductor international core is they are bound by the u.s. technology curbs. is the gap between the u.s. and china shrugging? not on this basis. jeffries has a note out looking at what we have said, looking at this 60 pro. the handset sold out within hours. what that tells is that they had small inventory. not just two generations behind in chipmaking but they are not able to produce it at volume. alix: can return to nvidia? ed: please. alix: the founder had an interesting chat with bloomberg and talked about how nvidia could wind up being too big to fail but too big to succeed. it put a textbook story of big market delusion. what do you make of this? ed: he is known as the bubble hunter. that is how he made his name at research affiliates llc. his point is really simple. the run-up in the stock at its current valuation is us pricing in all of the capex. the run-up is extreme. this has all of the hallmarks, based on his experience, of a bubble and no one is seeing it yet.

u.s. commerce secretary gina raimondo says there's no evidence that chinese phone maker huawei can make advancede. she says she was upset that they released a new phone with a seven millimeter chip. washington has opened an investigation into their phone amid export controls on beijing. shery: justin trudeau vows to hold people to account for the murder of a leader in the country which is government alleges was masterminded by india. >> one of the things that is so important today is that the government of india takes serious this matter. it is extreme lease areas and it has far-reaching consequences in international law and otherwise. for canada, we will remain calm, we will remain grounded in our democratic principles and values. we will follow the evidence and make sure that the work is done told people to account. shery: so how are people in canada reacting to these allegations and what are the next steps for the trigger government -- trudeau government? derek: the reaction was of shock. there are significant ties between canada and india. india is the largest source of immigrants to canada,

u.s. commerce secretary visited china. >> travel to the united states is quite well demanded. in the past, we had 6% compared to 2019 levels. after the visit, more flight capacity will be added on both sides. we are very excited to see that. >> reporter: trip.com group's ceo told me she is upbeat about the area focus of the u.s. and china which was chinese group tours. they were revived, if you remember, recently. people have been booking their tours to the united states. putting down $4,000 to $10,000 u.s. dollars for the trip. this is for the october holiday which is a major holiday here in whine. t -- china. the ceo said she is happy spending is returning to pre-pandemic levels. >> chinese consumers are the large spenders compared to the rest of the world. the most expensive tour trip.com told before pandemic cost $200,000 usd per person per trip. 80 days around the world. guess how long it took us to sell the packages? 17 sekconds. that tells you the customers we serve have strong buying power. if you look at the per person, per trip, the chinese consumers spend the most,

u.s. commerce secretary gina raimondo for coming on "mad money."on the show. keep it up. >> "mad money" is back after the break. >> announcer: coming up next, you, cramer, and the answers to help secure your financial future. it's an electric lightning round when we return. icy hot. ice works fast. ♪♪ heat makes it last. feel the power of contrast therapy. ♪♪ so you can rise from pain. icy hot. (fan #1) there ya go! that's what i'm talkin' about! so you can rise from pain. (josh allen) is this your plan to watch the game today? (hero fan) uh, yea. i have to watch my neighbors' nfl sunday ticket. (josh allen) it's not your best plan. but you know what is? myplan from verizon. switch now and they'll give you nfl sunday ticket from youtubetv, on them. (hero fan) this plan is amazing! (josh allen) another amazing plan, backing away from here very slowly. (fan #1) that was josh allen. (fan #2) mmhm. (vo) football season is here. get nfl sunday ticket from youtubetv on us. a $449 value. plus, get a free samsung galaxy z flip5. only on verizon. >>> it is

u.s. commerce department talking about investigations into huawei's latest smartphone chip. of pressure on the tech sector, and the overall mood is negative, as the weather is in hong kong. jennifer: thank you so much for that. let's continue the markets conversation with a look at the yuan, onshore currencies hitting a fresh 16 year low against the dollar. that is after the weakest pboc fixing since july. let's go to paul dobson, this is the pboc's week is fix in months. is the focus shifting? paul: i would say not a massive surprise given the strength we have seen in the u.s. dollar overall. we are looking specifically at the chinese yuan against the u.s. dollar, and it has been holding his ground because authorities are setting that picks more aggressively -- that fix more aggressively against dollar strength and yuan weakness. they feel it is ok to let it go further, to relent, to allow more weakness and pullback. on a trade-weighted basis, the yuan has done well over the last couple months. they do not want to see too much currency strength because that would be bad for

china's ministry of commerce says that restoring stability in u.s.e, derisk, claiming it would stableize business expectations and increase business confidence. u.s. and eu officials often use the term derisk to describe their relationship with china and how they're not looking to completely separate or decouple l. u.s. commerce secretary gina raimondo in china saying, quote, decoupling is neither in our economic or national security goals. joining me, former trump state department and senior advisor christian whiton. christian, good morning. >> good morning, cheryl. cheryl: gina raimondo's trip start to finish is just a lesson in just how to get laughs. what did she really accomplish? >> she accomplished nothing, really. this is the fourth visit by a senior member of the administration to beijing in what i call the summer of love with china and like her predecessors comes home with nothing and leaves china with the impression which is really reflected in the statement that they can get away with anything, that they can engage in any misconduct which

u.s. commerce secretary last week.viously told cnn that he would be meeting with xi jinping in, quote, the fall. and, david, they may still have an opportunity to speak on the sideline of the apex summit, due to take place in san francisco in november. back to you. >> that's right. we'll have to see if they come together on that. interesting to see li qiang going from the party chief to what is happening at the g20. we'll stay on this for a moment. international editor nic robertson is joining us from london. nic, the tone and tenor at the g20, how is this going to change at all with xi not being there? >> you know, i think it's one of the signals that the global structures are changing that the global alliances are changing. not only will xi not be there, but also president putin isn't going. and i think it's significant that we saw president xi attend the brick summit in south africa recently, where he was on a very big red carpet rival when he was there. and the signal from the brick summit is, look, these nations d

u.s. commerce secretary and president biden did tell cnn he would be meeting with xi jinping in the fall.y may have an opportunity to speak on the sideline of the apex in november, it's important to note bidend and xi, they last spoke on the sideline in bali last november. that's been the only in-person encounter between these two leaders since biden took off in 2021. back to you, guys. >> kristie lu stout, thank you. >>> ukrainian president zelenskyy is overhauling the country's leadership military in the middle of a major counteroffensive. zelenskyy said he's dismissing his defense minister reznikov. >> in recent months, the president has cracked down on corruption in his department. reznikov hasn't been directly implicated himself, but mr. zelenskyy says it's time for change. >> translator: oleksiy reznikov has been through more than 550 days of full-scale war. i believe that the ministry needs new approaches and other formats of interaction with both the military and society as a whole. >> the ukrainian military officials say russia has launched massive attacks across the country. air

u.s. commerce department, beijing and denies these charges.r the man suspected of killing 26-year-old tech ceo may be over, there is printed report this morning that he was captured late last night this is the suspect 32-year-old jason aldean billingsley he is considered armed and extremely dangerous there are new reports that he is better rested she was found dead monday, she was featured in the forbes 30 under 30 list there was a $6000 reward for information leading to an arrest, critics say the whole story is another example of failed progressive policies in the criminal justice system in the d cursor ration movement in general that pushes basically to let prisoners go free he was sentenced to 30 years in prison only spent seven years behind bars he is also suspected another brutal attack and rape last week. finally the delta ceo after fierce criticism of the company's overhaul of the skymiles loyalty program he announces the changes went too far, speaking of the rotary club of atlanta it will be announced in the next few weeks more changes

u.s. commerce department is now going to invest -- investigate how far -- how huawei was able to put togetherne. what happened is they got a hold of the latest headset from china. they took it to a firm that did a tear down and they found within it a 70 -- seven nanometer processor made from china's leading chipmaker. it had all the harm our -- hallmarks of a processor. even though it is three generations removed, it is subject to u.s. sanctions. they are looking to see if there is a breach of sanctions for the players involved. guy: is it significant that this phone has been unveiled this week? at the same time there is a pushback against apple? is this politics? ed: it's incredibly hard to draw together the chronology of this week with the latest technology from apple coming next tuesday and huawei . the phone was released from huawei mysteriously because it was not released from china regulator. as bloomberg news reported china central government mandated to other government agencies and state corporations that their staff should not use iphones from apple or other handsets from a foreign

u.s. commerce department which has an inventor -- investigation into a chinese chip powering while ways latestt is under u.s. sanctions and preventing them from getting advanced vectored the inquiry adds to growing tensions with the u.s. and beijing responding by banning the use of iphones by employees in government-backed agencies and sensitive departments. >> i must say this was a significant rector. it does show -- a significant breakthrough. it shows that china is pursuing its own strategy towards a greater degree of decoupling, even if not full of decoupling. it is really something that gives the sense and concern in the u.s. that maybe the sanctions are also providing the kind of sputnik moment that gives china the real resolve and incentive to invest in its own capabilities. rishaad: tech insights is a company with bloomberg work with to break down while ways new mate 60 pro smartphone and uncover the technology inside of it. we caught up with the vice chair dan hutchinson earlier. >> the vix and of against is it shows that china has been able to get around or at least get forward on so

u.s. commerce secretary had come to china. that phone has been operating at speeds close to 5g.s one, the company says has another homegrown highlight -- satellite messages via china's own satellite system. now, shares of huawei suppliers rallied on the news. apple suppliers, though, fell. the company, as well as the government here, hasn't really been commenting. although the foreign ministry did have something to say about the u.s. investigation into whether or not huawei or its suppliers had violated u.s. export controls with this new phone. the foreign ministry said that this probe is an unreasonable suppression of chinese companies, and that it only strengthens, they say chinese determination for i.t. breakthroughs. kelly? >> eunice, the question now is, there have been some reacting saying it's more bark than bite. what was your sense from, you know, being there? is this a lot of theater, or is there going to be, you know, some more muscle behind china looking to maybe elbow the iphone out of its market? >> reporter: well, we spoke about this yesterday. because of the econ

u.s. commerce secretary wrapped up trip there, where she stood her ground.back from traveling to china. on that trip was secretary ramando. so what does this tell you? >> they are very serious about building, you know, domestic semi industry, and to really advance the technology as far as they can as the u.s. cuts off the supply of the most advanced chips that they need and want for ai. so this is not a new strategy. it was a strategy outlined many years ago, and one the secretary brought up with me when i was interviewing her in her motorcade. she said they told us they were going to do this. we know they're going to do it, we shouldn't be surprised, but we still have to look out for our interests. you know, i think the feeling on the ground from talking to chinese tech leaders was pretty 50/50 whether china would be able to pull this off, and a lot of people say with the right talent and resources, china will become a player in the most advanced chips. but there are plenty of people who say they won't be, and look at the history of the industry and say the

u.s. commerce secretary, meantime, says american business owners are preparing already for the worst. >> theyre worried. they are very worried. er i think in some cases frustrated that this is how government operates. you know, what businesses need to be successful is predictability. predictability, some semblance of regular order. these sorts of disruptions that are mainly driven by politics, it's a challenge for the economy and have the potential to set us back. so i do hope that there will be a speedy resolution. >> cnn's priscilla alvarez now has more details on those negotiations in washington. >> reporter: as congress returns from recess this month, the white house is asking lawmakers to pass a short-term spending bill to keep the government running and avoid a government shutdown. they're asking for a boost in funding for key programs that provide assistance to millions of americans. separately, the white house is also asking congress for a supplemental request, that is to provide more funds to fema, which has been responding to very expensive disasters across the country and whose fun

u.s. commerce secretary raimondo was in town.o here, don't actually believe that huawei would be able to produce this phone without foreign technology, however state media has been touting this as a poke in the eye for the u.s. commerce secretary and the department's export curbs. cctv posted a social media post and -- which says, mocking her here, mocking her as a huawei ambassador. what was interesting, these are actually phone covers which have been with raimondo's face, there's a counter argument now within the public and that is, that people are quoting what huawei's -- one of huawei's executives said we are far ahead, getting far ahead, and his intention was to say that huawei is getting ahead of the u.s. export curbs, but what people are kind of seeing that as a joke, that huawei wouldn't be able to do that. that's a discussion right now here. >> eunice, it's david. is there an expectation that there will be some sort of official announcement from the chinese government regarding this possible ban on bringing your iphone t

u.s. commerce secretary was in town. the specs are very unclear. the company has been a bit circumspect about them. but what's interesting is that it's running as if it's a 5g phone. the state media has been kind of touting this as a poke in the eye to the u.s., and even cctv has been posting memes that have been turned into phone cases that you can buy, kelly, but are actually showing romando as a huawei ambassador, as they say. >> wow. let's take this a little further. how significant is the huawei phone launch, eunice? how much excitement is there among the chinese customer base? >> reporter: well, it's difficult to say. in terms of the excitement from an official level, state media has been playing it up. there have been stories how there are 800,000 sales. we don't really know the number for sure in terms of the phones. there's been a lot of excitement there. but it's unclear as to whether or not the public really likes this phone or not. i mentioned that some of those memes that have been created online, they're have been people co-opting the

u.s. commerce secretary gina raimondo was in china. for that one the speeds are as close to 5g as people can guess, although it hasn't been confirmed by the company. huawei lists another highlight saying it has satellite messaging from china's beidou system. apple suppliers sank on the news. apple suppliers were getting hit around by more reports that restricts -- or reported restricts on iphones at government entities has been widened to local governments. the nikkei has been reporting and quoting sources saying state firms have also put apple watches and apple airpods on the restricted list due to national security concerns. the government as well as apple haven't commented. the foreign ministry did comment on the u.s. investigation into whether or not huawei or its suppliers had potentially violated u.s. export controls. the foreign ministry said that the u.s. probe into the nua way chip is under reasonable suppression, they said, of chinese companies. and it only strengthens chinese determination for a technological breakthrough. s

u.s. commerce secretary gina raimondo in china saying decoupling not economic or national security goals,he highways appropriations committee house select committee on china ashley hinson. >> good morning. >> thanks for having me one. questions first off, what do we think gina raimondo really accomplished on this trip? i have the doesn't seem like a lot, also, a follow-up here with regards to taiwan. because you know, point is being made if china does make a move on taiwan there going to end up with military equipment that we helped taiwan acquire. >> right. well, first of all, i think we need to start acting towards china based on what there are doing not saying unfortunately, that is not what we've seen out of this administration we've seen continuous appeasement out of this administration, before the secretary's visit she made restrictions loosened on chinese communist party companies, and state media applauded that i think any time chinese state media is applauding any decision by u.s. is probably not our best interests they are taking concessions to get in room not getting accountabi

u.s. commerce secretary gina raimondo after her recent trip. she was just on our show. she's talking about building high fences in small neighborhoods. the neighborhood basically is national security that said the prc banning iphobes for government employees doesn't help solve their youth ub employment problem, does it? it's over 20%. or at least it was before they stopped issuing that number because it's too weak. you don't drive off a great employer like apple when your economy's falling apart. more important i bring up my acerbic view because i don't have enough fingers and toes to count how many times i've heard the best days of apple's growth are behind them. it's true there hasn't been a lot of growth lately no one's dismiss that. the numbers don't lie. but growth here has always come in spurts related to new iphone releases. if you sell the stock at this moment please don't forget that you are selling ahead of one. you're also selling it in spite of a bountiful and growing service revenue stream including new programs, new content including some very exciting u.s

u.s. commerce department separately. we also did hear that u.s.hey think the smic warrants investigation for appearing to have violated u.s. sanctions by supplying components to huawei technologies according to a number of representatives speaking in the u.s. earlier this week in terms of the impact on intellectual property. we continue to watch the story very closely as we did have that bloomberg commission teardown of that huawei phone. 20 more to come on "daybreak asia". this is bloomberg. ♪ hi, i'm jason and i've lost 202 pounds on golo. so the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple weeks later, i seen it again after getting not so pleasant news from my physician. i was 424 pounds, and my doctor was recommending weight loss surgery. to avoid the surgery, i had to make a change. so i decided to go with golo and it's changed my life. when i first started golo and taking release, my cravings, they went away. and i was so surprised. you feel tha

in december 2022, the galveston regional chamber of commerce received a five star accreditation from the u.s. chamber of commerce, the highest rating in the industry. out of the 7,000 chambers in the nation, only 142 hold this prestigious distinction, with the galveston regional chamber of congress being just one of 27 in texas. and the only one in galveston county. not to mention all of the awards and recognitions she has received and all the boards she sits on and has sat on, i could go on and on. madam speaker, we thank gina for two decades of remarkable service. let us also celebrate the values of dedication, leadership, and community that she embodies. gina, your legacy is one of inspiration. and we are grateful for your tireless efforts to make galveston a better place. congratulations on your outstanding achievements and make your journey ahead be as bright and rewarding as the path you have paveed for our community. thank you, gina, for your unwavering commitment to galveston and the texas gulf coast. we are blessed to have you why our lives and i can't wait to cheer you on as you co

u.s. secretary of commerce was visiting. her agency is the one that's been imposing all of the sanctions on huawei because of national security concerns. starting 2019, the u.s. government cut off huawei to the chipmaking tools. that's why the company, once the second-biggest smartphone producer in the world, has seen that part of their business almost wiped out. that's controversial and unexpected sale of the new model has people buzzing here. a lot of people have said that sh shows huawei has a workaround to dodge the u.s. sanctions. we have not heard anything definitive. that's the focus of a lot of consumers around the world. this is a key piece of the u.s. technology of export control. advocated by the biden administration. what they call small yard and high fences. the number of technologies is restricted but restrictive measures to keep u.s. technologies safe. if hauwei is able to make the 5g phone, the high fences may not be as effective as the biden administration has been saying. that's why you heard a lot more voic

u.s. state and commerce departments and the stock taking a bit of a hit here down about a third of a percentnly not at lows of the session. in other breaking news, u.s. secretary of state antony blinken in the last 20 minutes announced new aid for ukraine totaling more than $1 billion and that's $665 million in new military and civilian security assistance. he made the announcement in kyiv, he's on the ground there with president zelensky of ukraine. the pentagon announced today a new security assistance package, that one worth up to $175 million for ukraine as a russian missile strike killed at least 16 people in the country's eastern region of the country. what does this mean for the military maker. it's resistance and ambush protective altering vehicles in the morning and you're altering things ands company is a leader for the manufacturer or defense and fire emergency and also commercial vehicles worldwide and i'm joined in a fox business exclusive and this breaking news could really affect you and i know it's hard to judge because we don't know and you don't know what the department of

u.s. secretary of commerce was visiting china, they launched a new phone model that apparently, with 5g capabilities the company has worked around the controls. and experts who took apart the phone count a domestic chip in it, along with two south korean chips. the company told cnn, they have no idea how the chip not in the phone. all of that developments alarmed a lot of people in washington with her saying she was upset when she learned about the launch in china. more members of congress to call for stricter export controls. controlling huawei and the chipmaker that i mentioned. all that pointing to the loopholes for the sanctions so far. the chinese consider this a milestone moment in the tech history. very excited about this with a lot of nationalist fervor with this, as well. >> thank you so much, steven. we'll check in with you later. >>> for u.s. space agency nasa, it's an unpress dcedented achievement. >> touchdown. >> a 4 billion-mile journey has brought to earth samples from an asteroid that could reveal skretds about life on our planet and the solar system. the capsule containing rock and

u.s. chamber of commerce president saying the uaw strike and the summer of strikes is the natural result ofiden administration's whole of government approach to promoting unionization at all costs. for the 94% of american workers not in a union the costs are stacking up. you may remember this. >> mr. president, are you worried about an auto strike? an auto strike? uaw? sir. >> we'll see how worried he is later on today. the two sides are very far apart. >> sandra: what a moment this is. >> bill: economy is still number one. "wall street journal" writes this about the next guest senator tim scott. can tim scott rev up the economy? the senator's new plan is a good start but too cautious. let's barrel through it now. nice to see you. you want to make the trump tax cuts permanent. you want to return spending levels to pre-pandemic days, okay? "wall street journal" says you got to go bigger to stand out. what do you think of that point? >> well, we are going bigger. bigger means build, not borrow. by extending the tax cuts we save $2 trillion for the american families. that's the biggest tax cut

u.s. chamber of commerce. hi, neil, thanks for your time tonight.laming president biden for this strike. why do you think he bears responsibility here? >> well, i think part of what we're seeing going on in this strike and really a summer of strikes, over 200 strikes so far this year and counting, is this kind of sense of unrealistic expectations of what can economically be done. no one's talking about not raising employee pay. in fact, you just showed the graphic yourself bringing in this segment, 20% pay increases that are being put forward by the major auto companies. so the question is, what kind of pay increases can be absorbed in this moment? and i think what we've come to realize is that when you want to increase pay by 40% and you want to get paid for five days but only work four days, these are the type of kind of demands that just aren't grounded in economic reality. and if they were to be forced upon these companies, what it would mean is they shutter their operations. so no one wins. that's what concerns us quite a bit at the u.s. chambe

u.s. chamber of commerce in the opinion pages of "usa today."overnment shutdown is a dumb choice is the headline. he likes that if government shutdowns were another failed legislator tactic, policymakers and no one would care much. but because of real-world negative consequent as that hurt american people and the american economy, during a shutdown, mortgage and loan applicants are delayed because lenders cannot access income records or social security verification services. these are delayed -- visa and passport are delayed, hurting american travelers. the ability to get government permits can slow everything from fishing and the export of american made goods. there is more there if you want to read it. "usa today" is where you will find you. let's hear from robert in georgia on the democrats line. caller: yes, i want to give a kudos to the man from louisiana. he just made my day with the kentucky five chicken recipe. that is what we need to do with the way things are being done. donald trump had this country captured for so long and they are n

he seems determined to roll back reforms from the last 40 years when china went all in on commerce with u.s its export oriented growth story. ever since president trump put tariffs on them and they got wealthier. western companies can get a much better deal in vietnam, for example. a lot thought the biden administration would tone things down but if anything they've cracked down harder as part of an effort to prevent the chinese government getting its land on high-tech components that can't be found elsewhere and used by the people's liberation army and why china acted so quickly to hurt apple after the recent visit. remember when we spoke to her, she said they're trying her patience even as president biden said in vietnam he doesn't wish ill-will toward china although china i think sees that assen expression of ill will. let's bring it back to the "mad money" level. every american company trading into china is trading horrendous list with their peers with less exposure. thanks to worry about possible government sanctions and the fact that china's economy is collapsing. either way i'm not a

u.s. chamber of commerce said the strike is biden's fault.s, uaw strike and the summer of strikes is the natural result of biden administration's whole of government approach to promoting unionization at all costs. now as karen noted, biden has to legal authority to intervene in this strike. unlike strikes involving the air traffic controllers, what do you think are his options here as president. >> they are limited because this is a true test of his leadership and i think he's going to be defining by this in many weeks to come. though he could not put his hand directly in. there are people looking at this as the frustration that is there with the american workers and in an industry that is pivotal. so many people have short memories of 2008. but when you talk about this president, and how he has seen so many of our greatest challenges through, i don't know that he has it in him to help quash this and he could send out the surrogates and they could cite the data and i see them do it from the white house podium that everything is fine. but we

u.s. competition watchdog announces a landmark lawsuit against amazon, accusing the e-commerce giant of using monopoly power to inflate prices, exploit vendors u.s. colleagues will be speaking to ftc chair khan. >>> slow fashion. h&m post ed earnings lifting shares. >>> the prospect of a government shutdown looms large as the senate moves forward with a bipartisan funding bill. >> the senate hasn't passed one appropriation bill. i don't know how many in the press stand and ask schumer what he's going to do, the house has continued to do their job. we can't sit back and look at the border of where it is today. >>> let's get a check on how markets are faring. yesterday was a very negative day for trading. we're seeing slight more positivity in some of these indices today. lot of focus on the political stories, so in spain, for example, we have a parliamentary vote on whether the conservative leader can actually be tasked to form a government unlikely that he does get the mandate, but again, we've been monitoring the political evolution in spain since those elections. whether that task is going

u.s. chamber of commerce, they're blaming the administration for basically not heading this off for the fact and she said that the uaw strike and the summer of strikes that we've seen is the natural result of the biden administration's whole of government approach to promoting unionization at all costs. given the role you used to play in this white house, what's your reaction to that? >> i like suzanne, but she's dead wrong in this. if you look at since president biden's time in office, you look at the increase in wages, think about the opportunity for people to move around, the interest in unionization, the power is back to the people and the workers. you can't blame an administration just like you can't blame an administration for not getting you a contract. it's unfair to do that. there's been plenty of strikes under republican presidents that i don't think the chamber of commerce commented it's their fault for not getting it done. i think companies understand and recognize they're paying their employees more, looking at flex benefits more. you talked about 9 million people out of work. 9

u.s. chamber of commerce president released a statement, that the strengths of the national result of the biden administration's whole of government approach to promoting unionization at all costs, and for workers not in a union, the costs are stacking up. i want to get a reaction. >> sec. jean-pierre: the president believes collective bargaining works, and we have seen that. it is important that workers are able to have benefits and wages so they can raise their family. that is with the president has always talked about, whether it is his economic plan or, in this instance, as we talk about unions and making sure that workers come together with the companies and have these businesses and these hopefully win-win agreements. it's important that workers' rights, that they have their rights and they are able to ask for fair pay and fair wages. that's what we will continue to say. we believe the collective bargaining system works and we have seen that happen, and it is important that we move forward in that direction. >> reporter: it will the president get the shot on camera like we have seen

u.s. commerce secretary speaking about china on face the nation. cutives. i want to know how you think about the geopolitics and the risks around china as you position in the months and years ahead. >> the real question for us, what really means to the u.s. equity markets, is china's ability to get back on its feet economically. as you mentioned, it looks like we are seeing some good improvements in the chinese housing market. that is good on all fronts for us in the u.s.. because china doing better gives us more confidence here. china has a lot of exposure and u.s. multinationals, it is good for u.s. profits, our companies in the u.s.. tom: indeed. the importance of seeing china enact those policy measures, europe is very exposed as well to what happens in china. at least switching focus back to the u.s.. are you concerned there is complacency in these markets, equities had a bit of a rough august but last week was descent for u.s. stocks. our u.s. markets looking through some of the risks, and is there complacency? catherine: complacency, i would

in gaza as stable as possible through its relationship with hamas, ensuring the free flow of commerce and u.s. warships through the suez canal, keeping counterterrorism operations going in the sinai, president cece does these things because it is in egypt's national security interest to do so, not because we pay them to do it. maybe when we started giving them $1 billion in aid back in the 1980's, egypt in fact complied with our national security requests because of that monetary relationship. but today egypt engages in those activities because they have an independent reason to do so. in fact, it's telling that even though the egyptians continue to receive $1 billion per year in military aid, even with that money, they are reportedly and have been reportedly seeking to do deals with the russians and the chinese. earlier this year reporting on leaked documents reveal that egypt had made a secret deal to provide russia, in the middle of the ukraine war, with 40,000 rockets. now only after a flurry of high- level diplomatic interventions did the egyptians change course. and despite a reported r

u.s. chamber of commerce reports the nation has a massive shortage of skilled workers, especially plumbersechanics. that's driving a new push to get young people to bypass college for vocational schools. tony dokoupil reports. >> reporter: the problem with school, as many kids will tell you -- >> what's on level? >> reporter: is there's not always a clear connection between the work and how you'll use it in the real world. >> what's our total span if the run is 4'3". >> reporter: but that's not a question at a school like this. > the data says that the new jobs are in the technical fields. >> then here you're going to put up the walls. >> reporter: angela mike runs the career and technical education program here at carrick high and other schools in pittsburgh preparing students for jobs they know will be waiting for them at graduation. >> it's phenomenal because you have a student who may be wondering why am i learning this in math, and then they go into a class like carpentry, and then they put it to use, and now they can go back in their academic class, and now it all makes sense. so lea

u.s. and more specifically in e-commerce. alix: what you think peak season looks like?t is going to be soft. it is uncertain. we will know a lot more toward the end of the month. that will be a clear indication for us. on the ocean, that has often and tells -- has softened and that tells us inventory is reducing and not everyone is in a hurry to replace it. once they get into a hurry to replace it we are there to support them through our fixed network operations. we will know more towards the end of the month. guy: are we still any services driven economy? we were talking about what was happening on e-commerce with kenneth both from smurfit. are you seeing restaurants and people like taylor swift coming up? mike: we are the big winner this year and we saw that through the increase in air travel costs. e-commerce, we are seeing growth. it has been resilient from that perspective. more money continues to be spent on experiences and we expect that to continue into next year. we are ready and equipped for the growth of e-commerce. if there is a peak season we stand ready bu

commerce giant. the federal trade commission was joined by 17 u.s. states filing suit in washington, d.c.. antitrust regulators said amazon had forced sellers of its marketplace not to lower prices on other platforms while charging them exorbitant fees to use it service. it also said amazon prioritizes its own brands over other brands and are to be a better quality. -- over other brands it knew to be of better quality. >> amazon is a monopolist that uses its power to hike prices on american shoppers and charge sky high fees. seldom in the history of u.s. antitrust law has one case have the potential to do so much good for many people. >> amazon shares tumbled after the announcement, finishing the day down more than 4%. other textures like apple, alphabet, and microsoft also dropped by around 2%. wall street's major indices all closed the day down more than 1%, as you can see, as a new report showed consumer confidence in the united states dropped to a four-month low in september. jpmorgan chase will pay $75 million to the u.s. virgin islands to settle a lawsuit over its links with jeffrey

u.s. secretary commerce raimondo was in town.as close to 5g speeds, though the company wasn't really clear as to what the specs are. for this one, also not a lot of detail on the specs, but another highlight is it has satellite messaging. huawei suppliers rallied on this announcement. apple suppliers fell. the government as well as apple haven't really commented on these iphone and iphone restrictions. the foreign ministry did have something to say about the u.s. investigation into whether or not huawei with its chips have violated in any way u.s. export controls. saying this u.s. probe into the nua way chip is unreasonable suppression of chinese companies and that it only strengthens china's determination for technological breakthroughs. guys? >> eunice, thank you very much. for more on the u.s./china tensions and the implications for u.s. businesses, we want to bring in jacob helberg, commissioner of the u.s. and china economic review committee created by congress. he's also a senior policy adviser to ceo alex carp at palantir.

u.s. has stepped up naval patrols to ensure that commerce ships can pass freely through the region. >>> aormer official in the trump white house has been found guilty of contempt of congress. peter navarro emerged from the courthouse after the verdict was read in d.c. he has been charged with failing to cooperate with the subpoena investigating the january 6th attack on the capital. the judge sent an trial date for january. >>> still ahead, an american researcher trapped in a cave 3000 feet below the earth. we hear from him. >>> and we take you to santa clara where nick bosa hit the practice field for the first time today after signing a record-setting contract. >>> coming up tonight on the late news with sara donchey, a bold idea leads to big business for an entrepreneur in san jose. we tell you just how far people are at cretors, we handcraft every batch of our delicious popcorn. like our cretors cheese and caramel mix. great on their own, even better together. try cretors, handcrafted small-batch popcorn. salonpas, , makers of f powl painin relief papatches for 89 y years... believes i