u.s. treasuries and how to do it specifically. a boeing spokespersonays the company is confident the u.s. and china will continue trade c discussions ae to an agreement that burn fits both u.s. and chinese and consumers. nonetheless, the stock fell more than 4 1/2%. >> what about that line in the chinese editor's tweet about china selling u.s. treasuries. china is the biggest buyer of our de. what wou happen to interest rates and our economy if it started selling those treasuries. ll adams is senior economist with dnc financial services group. bill, thanks for joining us tonight. >> thanks for having me. >> it's considered highly unlikely they would think about selling too many of their treasuries. what do you think -- i't it interesting they even brought it up? what do you think would happen if they did start thinking about selling inside? >> i think if we did see a large sale of treasuries by china's central bank, we would see treasury bonds fall, yields move higher over a short period of time. afr that, it's likely that the fede

u.s. treasuries. asons forf those trade tensions between china and the u.s., it is concerning everyone. investors have been focused this week entirely on what comes out of president trump's mouth, not to mention tweets. he said he received a beautiful letter from president xi jinping and he may speak to the chinese president on the phone. we saw stocks come off the lows. stockse are seeing those that have high exposure to china mildly outperforming world stocks. that was not the case really. they were underperforming throughout the week. not surprising we have seen president trump just last night at a campaign rally in florida talk about how china broke the deal and how they will not stop until china stops stealing u.s. jobs. in another part of the u.s. government we continue to see this mounting pressure on china. the fcc rejecting china mobile's bid to have access to the u.s. market. their logic is this is on espionage concerns and not really -- can they are preoccupied about china accessing u.s. tel

u.s. treasury the supply of. the creases in the market which up the interest rate and in turn the cost of business increase in. stock market tumble meanwhile the terror for is taking its toll on both sides this bad cycle we've been launched magnified when people have to form a rational explanation for the conflict to be long term and that would mean force some so-called self-fulfilling prophecies and people and the welfare economy would be badly suffer but china has plenty of other tools in its arsenal based on what i know china is seriously considering restricting growth exports to the us china may also take other countermeasures in the future with no wind in sight to the dispute trade officials in washington are bracing for some far reaching cultural measures from beijing particularly in the wake of the decision to put away on the entity list the raw concerns that the governments of china may decide to retaliate against american companies china's would tell you should put some of america's biggest corporations

u.s. treasuries and notes which have basically our public debt to issued by the u.s. government would differ in my children meaning the period of time bateman's on those bonds will be do you are also known as you mentioned before save haven are saved in to financial jargon bonds in general or for a lower geale dennis stock so investors get less return on their investment but at moments like at the current situation where you have a trade war going on an increasing probability of a global a slowdown or a hard break seat on the cards running to u.s. government bonds for example is consider a safe bet since that they are among the world's safest in terms of the likelihood that their interest and principal will be paid on time those that we're hearing a lot more concern talk about the inverted yield curve of u.s. treasuries you explain what that is and why it matters. well to cure of inversion happens when the interest rate also known as yield in of the resculpting holding a long term bond in the 10 year treasury for example is lower than the one on a much shorter note li

u.s. treasuries you explain what that is and why it matters. well dick your version happens when the interest rate also known as yield. of the resculpting holding a long term bond in this 10 year treasury for example is lower than do one on a much shorter note like a 3 month one why you we should be worried about these as stephen historically unimpaired the deal indicates that that recession might be coming in about a year but this is not a rule and there have been plenty of exceptions in deposit like the late 1966 or 1998 and aside from the probability of a recession coming need also implies that the investors believe that the federal reserve will lower interest rates as a way of avoiding a hard landing on the economy right now is stephen even if the fed promises patience and said it wouldn't make a move this year investors are already digesting up to 2 rate cuts by the end of the year all right so concerns about a recession and the expectation of rate cuts jose luis de haro there for us in new york of a trade war between the u.s. and china is

u.s. treasury secretary stephen minucci and who had said in a congressional hearing that its team of u.s. negotiators was likely to go to beijing at some point in the near future meanwhile china has noticeably reduced their holdings of u.s. treasury bills to their lowest level in 2 years in march chinese official sold off $20500000000.00 worth of t. bills lowering their holdings to just over $1.00 trillion dollars over the past year in china reportedly has reduced the treasury portfolio by more than 5 percent some market watchers have speculated that china may choose to more dramatically reduce their holdings to retaliate against u.s. tariffs stay tuned. in the trade war has spilled over into yet another sector as president donald trump has signed an executive order effectively banning weiwei and other companies referred to as foreign adversaries in the united states here to take a deeper dive into the details are our chief correspondent starbucks is still going and alex mahela mentions ron so welcome guys let's just get right into it sir i want to go to you 1st you've been following this

u.s. treasury bonds with more on the worsening dispute his. ships us. do you remember how china saved the u.s. economy it bought a huge part of u.s. treasuries and 2009 amid mounting fears that washington was unable to finance its being bailouts i appreciate greatly the chinese government's continuing confidence in the united states treasuries so now even better tomorrow of china u.s. relations the relationship between the united states and china will shape the 21st century. and the buying spree continued for several years china has long been the largest holder of u.s. government treasuries currently worth more than one trillion dollars but now the trend has been well and truly reversed and the ongoing trade call flick is it helping matters and march alone china offloaded one neat $1000000000.00 of us that the fastest selloff in 2 years there is a massive sale of the us treasury the supply of. the creases in the market which up the interest rate and in turn the cost of business increases and the stock market tumble meanwhile the taper for is taking its t

u.s. treasury market, they own 1.3 trillion of all the u.s. bonds. owns 22 trillion.the amount of bonds the chinese holds. they could sell all of theirs and move the market but not much. seeing weaker demand because the u.s. government is borrowing so much of the treasury is selling so many bonds. the coupon on the 10-year note came in at two point 37 5%. it is still the lowest in the year. demand was still pretty good. thank you, kathleen. an interesting day on the treasuries market. we had an interesting event in australia. the australian competition and consumer commission blocking the proposed merger. tpg aftermmeted in the news was published on wednesday before the markets closed in sydney. they say a merger would further concentrate and already concentrated australian telecoms market. what does it all mean? our guest is here to discuss it. what does this mean? do you go to court or is there another plan? >> we have announced that we are going to the federal court. we think this is an unbelievable decision. they are two entirely complementary companies. they don'

u.s. treasuries, and no one wants to buy them because of the cost of hedging. e correlation between rates and the u.s. dollar in broader currencies has broken down. the thing that has been driving the dollar is really equities. this is why the yen is so sensitive. this is why the swiss franc is so sensitive. you can even see institutional treasuries from the japanese is falling. there's going to be a lot more supply of u.s. treasuries because the u.s. has to borrow a lot more money. where is the demand going to come from? it seems like international buyers are pulling back. the fed now is pulling back. who is going to buy all of those treasuries? mark: that is a good question because the marginal buyers are disappearing. if we see things change like political risk, people come back , and that world there isn't a new marginal buyer for u.s. treasuries. what you have is potentially a weaker u.s. dollar with higher rates. it is not a two-year trade. it is kind of like the 30 year, 20 year rates in the u.s. are rising because of the supply and demand mismatch, but t

u.s. we are hearing from the treasury department, releasing their semi annual report. ey have reframed from naming china a currency manipulator, something they have not done since 1994, and they have expanded the list of u.s. trade partners under review to 21. when it comes to the watch list of these fx reports, it is italy, ireland, malaysia, and vietnam now on the monitoring list. also, the u.s. says the nine countries require close attention on currencies. they are also saying there are no major trading partners that are a currency manipulator, and what is interesting right now is that the u.s. has lowered two thresholds for the manipulators. they have three criteria based on the 2016 trade facilitates facilitationade and enforcement act, and they have lowered the thresholds for two of them, including that the current account surplus has to exceed 2% of gdp instead of 3% of gdp as in the past, but once again, the u.s. treasury again refraining from naming china a currency manipulator, something it has not done since 1994, and even if it was designated a currency mani

u.s. treasuries, it is reminding investors that china still has such an option. fast sale on u.s. treasury holdings, it will disrupt the global financial under. -- financial order. the will also suffer, markets in asia and in the fx reserve. looking after the sales of the u.s. treasury, i think it will be destructive to the confidence on china and its ability to defend the currency. ifmost people watching say it wasn't for that, they would fall much further. ken: slow down the depreciation pace rather than reverse the depreciation trend. we saw it is quite effective. according to our model, the adjustment has been a slow down effectively over the past few weeks. right now i think it is a most reflecting the depreciation ratio. david: what is the best trade, then? ken: if you want to conserve the --reciation resizing, the remains caps on around 300, 400 points. it is quite different than 2016 when cnh got to 2000. rishaad: if the trade war intensifies, bets are surely going to be off. ken: if the trade war intensifies and both sides impose their 25% tariff, i thin

u.s. treasury as a weapon in his trade war. that this is aay very unlikely step for china because of the financial impacts. simply because it is such a liquid market. they were very few other places for china to invest or put its money. this will be noted but it may be more to do with china's attempts to shore up the yuan rather than hitting back at the u.s.. certainly, a 10 billion drop in their treasury holdings will be noted by the markets. tom: tom mackenzie in beijing. thank you for joining us. still to come, taking the post of china possible biggest companies. we will break down alibaba and tencent's results. >> this is bloomberg. ♪ >> i am shery ahn in new york. tom: i am paul allen in sydney -- paul: i am paul allen in sydney. the s&p 500 today gain was the biggest in more than a month. .ue in part to president trump su keenan joins us now. that news is coming after the bell. as good of news as we thought on deeper readings. su: the idea of kicking it down the road is something the markets seemed to embrace. thee were s

u.s. treasuries remain attractive. uncertainty, it is hard to argue for a break higher in a more significant fashion. the one thing to add is we are talking about china and trade, but you have iran looking in the background. what happens if we see something happen in the straighter hormuz, do we see oil spike? probably. higher inflation, lower growth environment, which is great for security selections, but you have to watch. jonathan: we are talking about tail risks and not base cases. gershon: is important to remember, trade in general will not necessarily impact numbers in the short term. it will impact confidence, slowing economies over time. that said, markets have run really fast here. there is no guarantee we get a resolution. we are still up a tremendous amount off of our lows. the global economy faces a real challenge it confidence is taking a hit. diana, when you think about the hierarchy of vulnerabilities, it is china, then europe. europe and emerging markets. you are running an em fund at the moment. it has

u.s. treasury bonds over the past few months to the report suggesting that chinese authorities could look to further hinder u.s. companies with excessive red tape artie's evangelos sepsis next this morning looks at the possible leverage beijing has when it comes to bilateral relations. do you remember how china saved the u.s. economy it bought a huge part of u.s. treasuries and 2009 amid mounting fears that washington was unable to finance its bank bailouts i appreciate greatly the chinese government's continuing confidence in. united states treasuries tonight even better tomorrow of china u.s. relations the relationship between the united states and china will shape the 21st century. and the buying spree continued for several years china has long been the largest holder of u.s. government treasuries currently worth more than one trillion dollars but now the trend has been well and truly reversed and the ongoing trade call flic is it helping matters and march alone china offloaded one need $1000000000.00 of us that the fastest selloff in 2 years the course the effect would be by driving up

u.s. treasuries are one way of doing that. the other things that are attractive in this part of the cycle are things like global macro funds. historically volatility picks up, global macro funds tend to outperform, and i think you will likely see a rise in volatility over the coming six to 12 months. the other thing is infrastructure. you look for a reasonable yield that is relatively defensive. the steady income stream you tend to see from regulated utility companies and some of the power generation companies, those kind of contracted revenues are pretty stable and defensive and attractive at this late stage in the cycle. vonnie: the dollar index continues to strengthen, michael , grinding higher, up about 0.4%. what does that mean for currency hedging for you? anhael: i think it is important question, particularly for investors in the u.k.. we talked about the attraction still of u.s. treasuries, but i think a lot of those huge uncertainties here in the u.k. around the direction of sterling against the dollar given the ongoi

u.s. treasury department or from the white house that the tariffs are supposed to take effect at twelve or one am local time for a one g.m.t. are going to be delayed because the paperwork has gone through and unless there is a last second decision those tariffs of twenty five percent will take effect in just out there under an hour's time they won't affect merchandise coming from china at this hour but anything that would be shipped after the top of the next hour would then be subject to that twenty five percent tariff for goods that would be intended for sale here in the u.s. now in light of that the trade talks between chinese and american officials will continue on friday there was a working dinner between the u.s. trade representative robert light hisor and his chinese counterpart in new hay and the parents had a couple of hours of at least work on the ongoing trade agreement whether they were able to resolve a dispute over china saying that he didn't want to have to modify its laws in order for any eventual agreement to take effect we don't know whether they worked out that dispute bu

u.s. treasuries, as the trade fight intensifies. what about the u.s. chip makers in particular, those that do depend-i'm thinking of qualcomm, those that depend on china in general. are you watching that sec r tore right now and -- sector right now, maybe evaluating some of those names? >> i think have you to be on watch, that some of these big tech chip companies have up to 50% exposure to china. there are names that i think that become attractive in the selloff and xpi semiconductor is a great example, they sold off last time down into the 70s in late december and rallied back above 100. have you to be selective and find the bargains among the bunch. cheryl: it's all timing the market seems to be the story of the week. i want to move to tesla. t rorowe price cutting holdingsn tesla. s&p is up 14%. it's lower in the premarket. 81% of their shares of tesla basically they dumped it. what do you make of this move? >> it's a crisis of confidence. we talked about this so many times with tesla. there's so many red flags here. wall street is not going to jus

u.s. treasury market. for now, let's get the first word news. the u.s. debt market will suffer massive losses if the biggest economy falls into recession. short fame.- of big >> the financial system of the u.s. is safe. that doesn't mean we won't have a recession. massive losses, but that will be the problem of those people who invest in the bond market. >> mike pompeo has launched a rebuke against the u.k. approach to national security. he is demanding allies take a tougher approach. this comes at a sensitive time. to deliverggling brexit and under almost daily pressure to resign. bitcoin has climbed back above $6,000. inrose above $19,000 december, 2017, before sinking. it has clawed back to the highest level in six months. we spoke to the chief executive about bitcoin. struggle forng to a while. we are going to be much higher. anyel better than i have at point in my career. 24 hours a day. powered by more than 2700 journalists and analysts. >> she rallies the call on that. bitcoin. another, south africa. they started counting the votes from yesterday'

u.s. treasuries. ew people, not too many people i spoke with are really worried china would dump u.s. debt but it is worth noting that they hold the least amount, that they have held since may 2017. most people i spoke with said look, china would not dump u.s. treasuries because it would hurt china more than it would hurt the u.s. for all of our tiffs with russia, russia has quite simply stopped buying the sort of -- exited, if you like, the u.s. treasury market, but where russia has stepped in, japan has stepped in, brazil has stepped in. china, even though it is reducing the amount slowly and steadily, it's still essentially the number one foreign holder of u.s. debt. outside of the u.s., china owns around 18% of this pool of foreign owners and that, as i mentioned, japan is number two and brazil is number three. a look at all these moving parts, the consensus seems to be china has a little more time, perhaps 12 to 18 months, and maybe keeping fingers crossed that the administration changes or perhap

u.s. treasury department says the restrictions are in direct response to the arrest of a senior opposition politician the vice president of venezuela's opposition controlled national assembly at because i'm brown has been put in a military presence a court says he's suspected of supporting an alleged coup attempt by opposition leader on why the last month traceable has moved from caracas. earlier in january the u.s. announced a very harsh sanctions on venezuela that affect of venezuela steidl company with a reset its subsidy area in the united states citgo which involves billions of dollars so most definitely this strategic the strategy here by the united states is to choke the government of nicola many say that over the fear is that it will affect even more the venezuelan people who are already struggling with a crisis an economic crisis here and not get out of office nicolas maduro responded to the united states saying that he trusts completely trusts he's for it he's defense minister and the president of the supreme court and he's also spoke about what happened on april the 30 years dur

u.s. treasury, like a tax would be paid to the u.s. treasury. that is where we need to be cognizant, ultimately, we are looking to lower tariffs after we get a better trade deal in place. so that is where some of the aspect of why we need to actually lower tariffs in the long run and have free, fair, reciprocal agreements with countries to make sure we can take our products and trade them fairly and freely around the globe, but ultimately that cost is passed on to american consumers, and why tariffs are viewed as attacks. it is paid at the port of entry. guest: and the help you are question he asked that host: and the health care question he asked? guest: i am four months into this job. i am frustrated by democrats and republicans across the board on their inability to work together. we need to work to address the rising cost of health care across the board, and work together to lower that. host: and you were asked on twitter, how about removing the stranglehold on medicare and medicaid to prevent them from bartering with big pharma to get bette

u.s. treasury they had, i don't think it would impact u.s. treasuries.ld and that caused rates to rise, there would be such a flood of money from everywhere else in the world that would bring those rates back down in equilibrium with the rest of the world. whether or not china invests in u.s. treasuries doesn't change the underlying value. alix: so if we wrap this all together, if the risk is really going to be a place in the bond mentioned, where is the best place to diversify and take on risk right now? to be the contrary an investor? thomas: there are still pockets that are really underpriced. i mentioned energy. financials are almost historically cheap. boundless sheets are as strong as we have a -- balance sheets are as strong as we have ever seen. there's just a general distrust of certain industries right now, and i think that is where you can be opportunistic. david: one of the places where there is at least concern is tech. tech in general can be affected by trade relations, but more specifically, yesterday where the announcements of two differe

u.s. treasury bonds but a lot of analysts argue that actually that would actually backfire on china and hurt china's economy it's difficult to know nick just how you know worried china's leaders are right now because if there was a change in china's negotiating stance at the direction of president xi jinping who had felt it seems that his negotiators had given too much away in previous negotiations and it's fair to assume that he knew what the impact was going to be of that decision in other words i don't think the chinese leaders would have been remotely surprised by what president from did late on friday night in washington when he basically decided to impose tariffs on just about everything that the united states now imports from china there is of course still a little glimmer of light that the talks could yet bring about a deal but you know the gap for that to happen is obviously now narrowing somewhat right so yes there is some leeway isn't there before the u.s. tariffs actually make an impact so how far away do you think we might be from a deal. well the thing is that the tariffs only

u.s. treasuries but some claim that that would harm china more than america what china's doing now. ever is buying gold and for the 1st time start to publicly announce saying they have bought lots and lots of golf so let's talk about currency wars the dollar of gold where you see that of all of them well gold in particular we talked and we were way ahead of the curve on this man to talk about it years ago china was stockpiling gold not evidently through their central bank but they were telling all other state owned banks to buy gold bible china was the largest producer of gold everything stayed in country and they were importing as much as they could get so people would look at the goals to succeed ok china's only got you know x. amount of tons in their central bank reserve but everything was in held there it's all held in a state owned banks and it sold every little regional bank every bank outlet sells gold bars you know they call the chinese government made a call it holding gold to the people and then when they saw this currency were coming to go they've been stockpiling much go

u.s. treasury there are 9 countries that have been placed on the so-called watch list and they include allies of the united states such as singapore and germany they include almost any country that has a significant and sustained trade surplus with the united states i think that the u.s. treasury is being restrained in its approach and is trying to take a more collaborative approach to these negotiations they do by keeping china or off of the manipulation list and keeping it on the watch list they do risk retain the option of later escalating china to currency manipulation status if they so wish so to some extent they keeping their options open at this stage. thank you so much for that professor richard walt and john quality of the game business program at the university of miami thank you both very much for your time. thank you. germany's unemployment rate has increased for the 1st time in 2 years with $60000.00 more germans going jobless this month the official german german jobless rate for may now shows a 10th of the point increase to a flat 5 percent that unemployment rate is now just ba

u.s. treasury to the lowest levels since 2017. it was a slight reduction, but it was enough for it to hit the two-year low. the world's second largest economy owns more u.s. foreign debt than any other nation. slashing those holdings is viewed as the nuclear option in the trade war. newshire has revealed its -- totaled $860 million. the size of the holding gives more clarity to the wager warren buffett disclosed earlier this month. the company also ramped up bets on jp morgan and red hat. it cut stakes in southwest airlines and wells fargo. the u.s. has ordered its nonemergency staff to leave iraq due to increasing terror trends -- increasing tensions in the middle east. fears are rising the region may be headed toward another conflict. the united arab emirates minister for foreign affairs says they need to of all escalating the situation. >> we need to address irene's behavior clearly. at the same time, not to be baited into a crisis is very important. >> the leaders of france and new zealand have joined with of the world's bigges

u.s. treasury department says the restrictions are in direct response to the arrest of an opposition member the vice president of venezuela's national assembly a guy has been put in a military prison on treason charges he's accused of supporting an alleged coup attempt by opposition to one last week. as one of 12 politicians stripped of their parliamentary immunity why those failed bid to topple president nicolas maduro in the last 2 days 3 others have taken refuge in foreign embassies richard blanco is in argentina's embassy in caracas whilst my governess and a medic are in the italian embassy and a former national assembly vice president freddy also from why those policy has been inside the chilean embassy since november 2017 when he was stripped of his immunity well to raise a bow is in the venezuelan capital and joins us live now 1st of all these sanctions to raise or how big of an impact they likely to have. more sanctions for venezuela i mean what the united states announced is that they're implementing another executive order that so will likely have an impact on intelligence service

u.s. treasury what economists saying is that when tariffs are increased on goods made outside of the united states and then those products are sold in the u.s. what usually happens is that the companies pass on the higher tariff to their customers and so that is a real concern for the health of the u.s. economy of course it is a contradiction of what his national of what his. council of economic advisors chief larry kudlow was saying on sunday we want to be as sure as we can be we don't think the chinese have confident enough we'll wait and see the talks will continue and i will say this is a g. 20 meeting in japan toward the end of june next month and the chances that president trump and president xi will get together at that meeting are probably pretty good. in fact during that interview on sunday larry kudlow did concede questioning that in fact it is u.s. consumers who would be paying the higher tariff ultimately that money does not end up in the u.s. treasury $1.00 other point lauren there's been a lot of talk here in washington about whether the negotiations between beijing and washin

u.s. sanctions. a treasury department letter obtained by bloomberg warned that anyone associated with it could be barred from the u.s. financial system. global news 24 hours a day on air and at tictoc on twitter powered by more than 2700 journalists and analysts in 120 countries, i'm jessica summers, this is bloomberg. shery: thank you. mighty u.s. treasury bond market rally is rolling on. the trade war undermines industrial confidence. economics and policy editor kathleen is here. treasuries have proven to be a reliable safe haven investments. does this rally have legs? investors moved to highly liquid long-term treasury bonds when they are unsure. that is one of the places they take their money. doing this, is the sense of the trade war continues to escalate, a month or two ago that was not the expect patient. maybe the g20 meeting at the end of the month they could meet. instead we have china saying they will may be weaponized their earth as the big tool against the fed in this trade war. rallys helping the

u.s. treasury secretary said simply we are done adding that he and his chinese counterparts had constructive discussions meanwhile the threatened increase of u.s. tariffs on chinese imports from 10 to 25 percent took effect friday morning president trump has labeled an additional threat to apply that duty to another $325000000000.00 of chinese imports not yet covered for now the prospects and schedule for talks is as unclear as ever with president seeming ambivalent about the content and direction of the talks and chinese president xi concerned about appearances and backing down under pressure so daniel right now it seems where basically when we started this was the most anti-climactic ending to the week as possible right and if this is become a real life reality show then this is sort of the season finale where you don't find out who the winner is exactly so essentially they're just kicking the ball down the aisle and america has escalated china so that they will retaliate but for now it seems like the markets are actually rather content with this ending for now . right now for more in-dept

u.s. treasuries, ten-year yields trading at an 18 month low. the german ten-year bonds minus 16 basis points, we're about three basis points away from its all time low of minus 19 basis points so you get the honor of pig t paying the german government 16 basis points in this case to own its securities spain good rally today at 75 basis points, and then even italy which has come under pressure the last couple of sessions is trading a little bit firmer today just shy of that 270 level. that is the picture across the board right on the back of this european central bank financial stability review lets put out the conversation, i want to bring in a couple of our guests on the show today, the european economist at sp global ratings, and senior investment director at aberdeen standard investments who both join us one of the downside risks posed tr th from this ecb financial stability review is that of growth, saying that there is downside risk to economic growth but that it is going to detract from growth prospects but not fully derail it. i see in y

u.s. treasury again found that neither china nor any other trading partner is actively manipulating the value of its currency u.s. presidents trump had repeatedly accused china of currency manipulation the treasury's semi annual report released on tuesday the treasury did however call on china to avoid passively allowing the rim in between. the head of car maker an old today presented plans to merge with rival company fi ups to longtime ally nissan in tokyo japanese car maker is regarded to have been blindsided by the likes nissan is already facing nosediving profits and a tarnished reputation since the arrest of its former chairman carlos gone. general electric is considering plans to cut more than a 1000 jobs and friends that's despite the french government repeatedly urging the us engineered fairmont to do so earlier this year g.e. it was fined by the government in france for failing to meet a promise to create a 1000 jobs after it acquired the french rival al storms power business and 2050. 1 of the world's largest drug manufacturers has gone on trial in a multibillion dollar lawsuit by t