but first to china, as us treasury secretary steven mnuchin, along with a trade delegation, is aboutls in beijing. 0ur china correspondent, robin brant, is in shanghai. tea m team trump is there, what progress will they make on the trade spat? we have threats from either side, $150 billion worth of tariffs floating around, president trump tweeting that his financial team has come to china for two days of talks and what they will want to achieve is a level playing field in terms of trade between the countries. the famous five of negotiators have come led by steven mnuchin, goldman sachs executive turned treasury secretary, the president's trade advisor is also on board, the man who wrote death by china, perhaps the most hawkish. they want $100 billion cut off china's surplus in trade. the bigger push is on china's strategic push to dominate the high—tech industries, aviation, robotics, a big dealfor china, the us thinks there has been a generation of state subsidies and i think it is less likely there is progress on that. 0ne likely there is progress on that. one example of the kind o

the us treasury secretary, steven mnuchin, along with a trade delegation, will meet chinese officials. they're hoping to ease the escalating trade dispute between the two countries. the chinese foreign ministry says it expects the talks to be constructive as long as the us comes in good faith. translation: we believe that as long as the us side comes in good faith to address the stability of the area with mutual benefit and a win—win approach in mind, it will be constructive. also making news today. the islamic state group says that it carried out one of the worst attacks in the libyan capital tripoli for several years. suicide bombers stormed the headquarters of the electoral commission, killing at least twelve people and wounding a number of others. is has threatened to strike against elections around the muslim world. a least five people have died after a military cargo plane crashed near an airport in the us state of georgia. the air force confirmed that an air national guard plane crashed in the area during a training flight and survivors were unlikely. the hercules transport had

the us treasury secretary will meet chinese trade officials soon, along with the delegation.ing on bbc.com. liverpool are in the final of the champions league, despite losing to roma in the italian capital. they are through to the final on an aggregate score of 7—6. that's all from me now. now on bbc news, it's time for hardtalk.

the us treasury department has imposed sanctions on six people it linked to the iranian revolutionaryere part of a large—scale currency exchange network run by the elite iranian force. joe miller is in new york. talk us through what we know so far. we already know that the white house intends to essentially reimpose the sanctions that existed before the iran deal, those heavy sanctions against iran to prevent american businesses and we spoke yesterday like bowling, of doing business with iran, prevent american banks doing business with iran, but today the us treasury department has gone even further by imposing new sanctions on the individuals that it says are involved with the very lucrative currency exchange system, which essentially provides hundreds of millions of dollars directly to the iran revolutionary guard, at least so iran revolutionary guard, at least so the us treasury claims edits by sanctioning them is trying to cut off that funding, cut off that supply. there is every evidence this sort of thing really does hurt the iranian economy, which is already going through credi

us treasury secretary steve mnuchin will host china's vice premier liu he in washington today. zte was on the agenda last time they met — in beijing at the start of this month. at those negotiations the us demanded a $200 billion a year cut to its trade deficit with china. in other words it wants a reduction by more than half in the difference between what it buys from china and sells to china. the fate of zte will be important to any progress. it was effectively forced out of business as a result of last month's us ban on buying american components. it was found to have breached a settlement for illegally selling telecoms equipments to north korea and iran. more broadly both countries have threatened each other with import tariffs — something which doesn't concern the us commerce secretary wilbur ross. the commonest department's recent enforcement actions against the te, china's second largest telecoms equipment manufacturer, essentially caused them to cease operations. president trump tweeted yesterday that we will review that action but it does demonstrate china's dependence

us treasury they'll they'll take. that job. it's always easy in the line lines with a based on his own don't jump. in and take take stronger only if it is a. why can't him? because and. very. good idea as we know what had happened to. i told them that. because because. can. we we are not be treated like that. that's anything they said that's not to say. that said but i don't know he really e to see some on on on on. find find some something leading critic on talk about for the moment. deep deterioration asian it's a war george us i would do anything for. some reason we were in work. told about about trying to cut online wanted to address. these the has been reported to drink three. yeah yeah yeah yeah. yeah that that yeah yeah. i does does. maybe they could all time great great goes only so i. no surprise greta. yeah. i wish i could come togethe. interest. and. doubt doubtful terms and country. the friend and i think the the the. exactly and. you don't you don't. but it did at ten o'clock tonnes and went when my mom pale ale. w

the us treasury secretary steven mnuchin, along with a trade delegation, will meet chinese officials in beijing shortly. they're hoping to ease the escalating trade dispute between the two countries. and this story is trending on bbc.com. liverpool are in the final of the champions league, despite losing to roma in the italian capital. the english premier league side lost, four—two, in the second leg of the semi—final but are through on an aggregate score of seven goals to six. that's all from me for now. stay with bbc news. and the top story here in the uk: the nhs failed to screen almost half a million women for breast cancer. up to 270 may have had their lives cut short. now on bbc news, all the latest business news live from singapore. after months of tensions, us officials will meet peers in beijing to talk about trade. could both sides walk away with a deal? and a taste of british nostalgia on the high seas. that is coming up in our latest programme on the experience economy. good morning, asia. hello, world. welcome to another edition of asia business report. i'm rico hizon. i

later today president trump's business team, led by us treasury secretary steven mnuchin, will host theof china, liu he, for trade talks in washington. it is the second round of talks aimed at heading off a damaging trade war between the two sides following their meetings in beijing two weeks ago. the us has threatened to impose punitive tariffs on up to $150 billion in chinese goods, demanding a rebalancing of their trading relationship. the bbc‘s robin brant reports from dongguan, in southern china, which could be hit hard. if the trade war comes, this is where china will feel it — really feel it. dongguan is near the south coast, a place once dubbed the workshop of the world. in this factory, oil, lubrication, is everywhere. the smell of it is in the air, the feel of it under your feet. they make precision metal parts here, and they reckon up to 300 could be hit by the new us tariffs. this tiny punched—out metal disc will eventually end up in a car engine, maybe yours if you buy a turbocharger. now, it is one of dozens and dozens of components they make here that on america's hit lis

let's go to china now, where the us treasury secretary steven mnuchin, along with a trade delegation, talks with chinese officials. they're hoping to ease the escalating trade dispute between the two countries. according to the bbc‘s team in china, the impact of that dispute is already being felt, with imports of ford vehicles being blocked ahead of the talks. our china correspondent robin brant is in shanghai. tea m team trump has arrived and it is quite a force, isn't it? the question is how much progress will they make in trade talks? well, i think the expectations are pretty low, frankly. let's talk firstly though about ford, the us number two automaker. understanding the past few days, in the buildup to negotiations, that their normal business in a key port up in the north—east china, where they import and export vehicles, i have been told that business has been put on hold there, suspended temporarily, but for the linking that the buildup to these negotiations and that is just a sign i think the pressure, the pushback the chinese authorities able to put on. and in terms of those

treasury did their additional review and we have since repaid the dollars requested of us to repay. >> and to return the funds to the treasury-- >> excuse me? >> when did your agency make the decision to return those funds to the treasury? >> for the initial amount, we actually had made the decision prior to the release of the report for some of the-- for some of the expenses, we'd reviewed it and recognized some why questionable and we were better off to repay than to, again, debate each and every fee. the others we repaid in march following the review with treasury, additional $5100 at that point in time. >> have you received any guidance or training to your agency received from the treasury on the use of administrative funds? have you had any kind of response or guidance from the treasury? >> we've received guidance over time from treasury at different points. they were in our office, i think it was five times over a seven-year period with on-site reviews. the administrative expenses were not an issue at any of those reviews. they have since provided some additional guidance regard

positive but still minuscule zero point two four seven percent of the moment by comparison the us treasury two year yield is two point five seven percent over ten times higher so the u.s. government right now has the world's reserve currency the us dollar it cannot possibly default on your bond so they could print money italy cannot print euros and yet people are paying ten times more the u.s. government has to pay ten times more than italy does to borrow. they're showing that their pay a central bank will continue to buy these bankrupt chalion bonds you know in a world where the pentagon recently announced they lost twenty trillion dollars and they can't find it you know that say they're showing you for for example that the u.s. can print money they could blow up twenty trillion dollars and nobody it doesn't matter italy if they blow up ten billion euro is the chaos ensues across europe right ok so you have twenty trillion dollars gone missing in the pentagon and there's no accounting standard whatsoever and italy that's a subset of the size of the italian economy the total g.d.p. of ital

it is only in the us that the us treasury can find —— can find banks —— can impose fines on european nts can find ways of creating mechanisms for trade and the transfer of capital which will be immune from american secondary sanctions. we saw boris johnson going across the atlantic to make a last—ditch appeal to president trump not to do this. what do you think the uk will do next? president trump not to do this. what do you think the uk will do next7m has already been announced by a joint statement from the uk, france and germany, that they will work with the rest of the eu and with russia and china to preserve the deal. thank you very much for joining us. it's known for its exclusive guest list and its extravagant outfits. and this year the met gala did not disappoint. the theme was heavenly bodies: fashion and the catholic imagination. goddesses, angels and a pope—inspired gown were showcased on the red carpet. neda tawfik reports. the grand staircase of the met gala was full of divine inspiration. angelic halos, bejewelled crosses, and flowing robes ruled the red carpet. the theme

positive but still minuscule zero point two four seven percent of the moment by comparison the us treasury two year yield is two point five seven percent over ten times higher so the u.s. government right now has the world's reserve currency the us dollar it cannot possibly default on your bond so they could print money italy cannot print euros and yet people are paying ten times more the u.s. government has to pay ten times more than italy does to borrow. they're showing that their pay is such a bank will continue to buy these bankrupt chalion bonds you know in a world where the pentagon recently announced they lost twenty trillion dollars and they can't find it you know that's a that's showing you for for example that the u.s. can print money they could blow up twenty trillion dollars and nobody it doesn't matter italy if they blow up ten billion euro is the chaos ensues across europe right ok so you have twenty trillion dollars gone missing in the pentagon and there's no accounting standard whatsoever and italy that's a subset of the size of the italian economy the total g.d.p. of italy

foreign policy was run by the state department and the us treasury, and largely focused on advancing american commercial interests overseas. - we had american statecraft that largely relied on diplomacy and economic policy. we had secretaries of state that everybody knew their names, we had secretaries of war that nobody had ever heard of. the second world war changed all that. it really brought to the fore a unified department of defense. - policy makers talked in terms of us foreign policy, and defense policy. since world war ii and down to the present moment, policy makers tend to talk in terms of national security policy. national security policy tends to privilege, or to place particular emphasis on the role of the military in advancing us interests. - [narrator] after world war ii, george kennon, a top american diplomat in moscow, sounded the alarm over the existential threat he saw in the soviet union. paul nitze saw the soviets quite differently. he called for military expansion to counter soviet armament. - [nicholas] george kennon concluded that the united states, after our

. >> reporter: president trump said the sanctions will resume immediately but the us treasury is allowing a grace period for businesses to wind down their ties to iran. allen martin, kpix 5. >> representative nancy pelosi tweeted: weapon. president trump just got them a hell of a lot closer today." president trump has signaled he is open negotiations... bu may be unwilling to come to the tabl time is 4: >> president trump has signaled that he is open to renegotiations but iran may be unwilling to do so. >>> time now 4:40. california has collected dna from around 10 million newborns over the last 20 years. what's being done with the data? >> plus, a kayaker gets up close with a great white shark off the northern california coast. because antonio villaraigosa millions got it done.healthcare he defended women's healthcare, banned military-style assault weapons, banned workplace discrimination, and more. antonio for governor. this is the new $4 value menu at denny's. and the fried cheese melt is back, baby. mozzarella sticks inside a grilled cheese sandwich. we're now accepting nominations fo

the us treasury department has imposed sanctions on six people it's linking to iran's revolutionary guards're all part of a large—scale currency exchange network. there is concern internationally at the growing confrontation between iran and israel. iranian forces in syria fired rockets at israeli positions on the occupied golan heights. israel responded with airstrikes on iranian targets in syria. iran's president, talking to the german chancellor, has insisted tehran wants to reduce tensions in the middle east. this from the bbc‘s tom bateman. israeli missiles in the skies above damascus overnight. it was part of the biggest single strike by israel against neighbouring syria in a generation. the assault targeted iranian military positions deep inside the country, including a battering israel said launched a barrage of 20 rockets towards its territory. —— battery. barrage of 20 rockets towards its territory. -- battery. the units that are deployed all across syria are 106 kilometres away from iran. iranians are the ones who are the aggressors, they are the ones who are building offensive

positive but still minuscule zero point two four seven percent at the moment by comparison the us treasury two year yield is two point five seven percent over ten times higher so the u.s. government right now has the world's reserve currency the us dollar it cannot possibly the fault on your bond so they could print money italy cannot print euros and yet people are paying ten times more the u.s. government has to pay ten times more than italy does to borrow they're showing that they are paying such a bank will continue to buy these bankrupt chalion funds you know in a world where the pentagon recently announced they lost twenty trillion dollars and they can't find it you know that's say that's showing you for for example that the u.s. can print money they could blow up twenty trillion dollars and nobody it doesn't matter italy if they blow up ten billion euro is the chaos ensues across europe right ok so you have twenty trillion dollars gone missing in the pentagon and there's no accounting standard whatsoever and that italy. that's a subset of the size of the italian economy the total g.d

positive but still minuscule zero point two four seven percent of the moment by comparison the us treasury two year yield is two point five seven percent over ten times higher so the u.s. government right now has the world's reserve currency the us dollar it cannot possibly default on your bond so they could print money italy cannot print euros and yet people are paying ten times more the u.s. government has to pay ten times more than italy does to borrow their showing that their pay such a bank will continue to buy these bankrupt chalion bonds you know in a world where the pentagon recently announced they lost twenty trillion dollars and they can't find it you know that's a that's showing you for for example that the u.s. can print money they could blow up twenty trillion dollars and nobody it doesn't matter italy if they blow up ten billion euro is the chaos ensues across europe but ok so you have twenty trillion dollars gone missing in the pentagon and there's no accounting standard whatsoever and that italy. that's a subset of the size of the italian economy the total g.d.p. of italy i

asian stocks have benefited from the words of us treasury secretary steve mnuchin over the weekend onrade war was described as on hold. the nikkei rose after the dollar strengthened against the yen, which lifted exporters. let's ta ke let's take a quick look at the european stocks, which are now open. a big rise for the london markets. members of the world's leading economies are meeting in argentina at the 620 forum. 0ur south american business reporter daniel gallas says problems facing emerging markets may take centre stage. foreign ministers from g20 countries are meeting today in argentina at a time of great distress for emerging markets. the host country has just ramped up its interest rates to 40% and is asking for a multi—billion dollar loan from the imf. but other emerging markets are suffering too. brazil's currency lost about 20% of its value since the beginning of the year. a lot of it due to changes expected in the united states in interest rates. today's meeting will be about fair and sustainable development and that's exactly the topic that many emerging market minister

the us treasury secretary has said a trade war with china has been put "on hold".id the trump administration would suspend the introduction of the new import tariffs, to give time to work on a wider trade agreement. beijing will also put tariffs on hold — and earlier the chinese vice—premier liu he described the deal as a "win—win choice". here's our business correspondent joe lynam. last week a delegation of senior chinese representatives visited the us to find a way of preventing a looming trade war between the world's two largest economies. president trump had announced in march that he would impose tariffs of 25% on all steel imports into the us. china responded by publishing a list of us products that would face retaliatory sanctions, but none have been put into force yet. now beijing said it would buy more us—made oil and gas products and agricultural commodities, but did not give any details. that appears to have done enough to persuade the us to suspend the proposed tariffs on chinese goods, which had been set to come into force on monday. translation: the

the headlines are part of the appeal but this is looking at specific issues that the us treasury sayconcerned about may have the cooperation of the uae in these measures they are taking. this is not about the nuclear programme. this is about the iran revolutionary guard and they say that the people they are targeting, including currency exchange dealers and the arabian financial system has strong links with dubai they are targeting individuals because they reckon they are being used as a kind of front for collecting money that the iranians national guard would use to use its proxy operations around the region. so this is places like yemen, syria, lebanon, where the americans think the iranians contribution to the political situation has been very malign. we often talk about how much effect sanctions actually have and whether they are sanctions on train or financial penalties —— on trade. this is about cutting off the source of finance and talking about not letting them act ‘s pace —— places. it is about dollar funding which the americans allege use money to finance operations across

us treasury secretary steve mnuchin hosts the chinese vice premier in washington — amidst signs thatations may be improving. also in the programme, the clothing giant gap has sparked a social media backlash — with a t—shirt! we'll be live in our asia business bureau for the details. and markets across europe are mixed with results coming in from the likes of easyjet and news of a ceo departure at vodafone. big data is big business. we'll find out why information about you is the cornerstone of a multi billion dollar industry. new look says it's not a "fat tax" but as shoppers call out stores for charging more for larger sizes, we want to know what you think. just use the hashtag #bbcbizlive. hello and welcome to business live. do you get into each with your comments about the fat tax. keep them clean, we can share them on air. the world's two biggest economies are set to air their differences face to face later today. top officials from the us and china will sit down in washington with a new concillitary tone in the air after president trump defended his decision to try and get chine

philip to separate us treasury board. join me every thursday on the alex simon chill and i'll be speaking to guests of the world of politics small business i'm show business i'll see that. some officials do not. fully understand or don't know fully accept the principle of football being beyond politics that's a fundamental principle of the well. we were granted some people may have opinions but it's their own opinions and doesn't influence opinions of the many other football fans through or. tickets every day in large volumes. this is boom bust broadcasting around the world from washington d.c. and bart chilton coming up today apple is getting greener and more than one way are cute manila chan explained the new and novel move by one of the largest companies in the world and how are new sanctions being imposed by the trumpet ministration on iran impacting oil prices and opec we'll ask name us law i'm the chief market analyst at the markets will join us from london plus big pharma and prescription drug prices are in the new

us. treasury yield hit its highest in seven years.iday as a cheaper yen gave a boost to exporters but traders said they would be keeping a close eye on geopolitics in the coming days. msci‘s broadest index of asia—pacific shares outside japan was little changed. the index was headed for a 1% loss this week. hong kong's hang seng rose slightly and shanghai climbed just 0.3% as some investors bet beijing and washington will reach a deal in the latest round of trade talks. meanwhile, wall street ended slightly lower on thursday. meanwhile, here in europe, markets have opened quite mixed. and kim gittleson has the details about what's ahead on wall street today. on friday we'll get one more data point when it comes to the impact that president donald trump's proposed tariffs are having on corporate america. that's because tractor—maker deering company is expected to report its first—quarter earnings before us markets open here. now, most analysts are expecting it will be quite a profitable first quarter of deering company. it's been helpe

speaking on fox news, the us treasury secretary, steven mnuchin, said the trump administration wouldnd plans to introduce restrictions, to give time to work on a wider trade agreement. iam i am pleased to report that we have made very meaningful progress and we agreed on a framework which is important to understand. the framework includes their agreement to substantially recluse the trade deficit. we also discussed very important structural issues that they are going to make in their economy to make sure that we have a fair ability to compete there, and also protections about technology which have been very important to the president. and here's the chinese vice—premier who's been leading a chinese negotiating team in washington. translation: the strongest demand from both the chinese side and the us site is to stop the trade war and stop imposing more tariffs on each other‘s products. this time both sides want to stop the trade war and develop good relations. i think this isa develop good relations. i think this is a major demand from both countries. so why‘s this deal being reached

treasury yields climb to their highest in seven years as investors bet on more rate hikes. we talked to michael temple, joining usoment. this is bloomberg. ♪ ♪ asia," this is "daybreak i'm yvonne man in hong kong. ramy: i'm ramy inocencio in new york. treasury yields did climb to their highest in seven years off of the strong u.s. retail sales data. on top of that, risk aversion is spreading across asset classes as investors weigh the trade tensions, growth, as well is geopolitics. let's discuss that and more with michael temple, a pioneer in the and director of corporate credit research. thank you for coming on the show. crosswindslot of going back-and-forth. make heads or tails, especially since you are the bond that, with focus on what is happening with u.s. 10 year and other bonds and yields rising around the world. the 10 year is above 3%, for many investors it was the psychological line for the 10 year rising to greater heights. beginninghe markets to anticipate there will be an additional rate rise out of the fed. strong.ales were quite the thing that gives us comfort that this won't get out of control, so

replied you're just making stuff up and penalises bret mackintoshes the general counsel of the us treasury department was inspired to quip i may need to step in and regulate this animal he also may have affectively written the takeaway headline for the discussion saying quote where this all goes i don't think anyone knows well there are a few of us who think we have sort of a visual on the crypto future and one of those people who is certainly a visionary in market matters and crypto is gary to wall partner at cat muchin and a former commodity futures trading commission attorney jerry thank you for being here it is just nutty with what's what's going on and you really had this rowdy brawl out in in beverly hills let's talk about whether or not these things are actually going to be regulated there's a lot of conversation this week about if the number two traded krypto after big coin what do you make of it well and thank you for having me bart it's a life full to be here first of all not all kryptos of the same and i think that's a very very important factor remember there are crypt those th

us treasury secretary insisted that washington would not back down on its pledge to reduce the tradee the framework. the president has been very clear says the first meeting, that we are going to reduce the trade deficit. we have got a agreement with china that they will substantially agree to it. with me is our business correspondence, joe line. it is an ambitious programme, do you have any idea how this will be achieved? we know that the chinese have said that they will buy more american—made energy products and agricultural commodities. this is possibly fracking product, because the americans produced the world‘s largest fracking reduces... so it could be any equipment? the actual gas. put into tankards. liquefied natural gas, they put it in tankards and sell it to the chinese, and the chinese navy won‘t buy it from abu dhabi, but buy it from the americans, instead. the say might apply to agricultural policies. that could be pork bellies, frozen orange juice, policies. that could be pork bellies, frozen orangejuice, all manner of things. we don‘t have the detail. there is no numbe

bullying if necessary ahead of trade talks with a high level american delegation on thursday the us treasury secretary steve mission is meeting china's vice premier during his two day trip to try to hammer out a deal to avoid a trade war between the world's two biggest economies beijing and washington have threatened to impose large terrorists in recent months brown has more from beijing . there are many areas of friction i guess the two key ones would be the deficit at the moment china exports far more to the united states than the other way round and the united states wants to redress that balance china of though also is accused by the united states of really carrying out very unfair trading practices what the united states really gets upset about is this china has a plan known as made in china twenty twenty five and this is president xi jinping ambition to basically overhaul the economy and to pour billions of dollars into technologies of the future things like artificial intelligence and robotics but the problem is these are state funded companies that will be competing against u.s. comp

the us treasury secretary will meet chinese trade officials soon, along with the delegation. they are hoping to ease the tensions between the two countries. and this video is trending on bbc.com. liverpool are in the final of the champions league, despite losing to roma in the italian capital. they are through to the final on an aggregate score of 7—6. that's all from me now. now on bbc news, it's time for hardtalk. welcome to hardtalk with me, zeinab badawi. elections are due in pakistan injuly and running for a seat in the national assembly is the heir to the country's main political dynasty. my guest is bilawal bhutto—zardari, son of benazir bhutto, twice prime minister of pakistan, who was assassinated in 2007. he's chairman of the pakistan people's party, founded by his grandfather 50 years ago. the ppp has seen its popularity plummet in recent years. can bilawal bhutto—zardari restore its fortunes and turn around a political legacy tarnished by allegations of corruption, patronage, and incompetence? bilawal bhutto—zardari, welcome to hardtalk. thanks for having me, zein

bullying if necessary ahead of trade talks with a high level american delegation on thursday the us treasury secretary stephen minutia is meeting china's vice premier during his two day visit with i'll try to hammer out a deal to avoid a trade war between the world's two biggest economies beijing and washington have threatened to impose large tariffs in recent months agent brown has moved from beijing. well these are the most important talks to have taken place between chinese and u.s. government officials since the current trade friction began remember both governments are threatening to impose tariffs on each other's imports that hasn't happened yet but the deadline is approaching the united states has been investigating chinese trade practices one area of course where it wants action is the deficit at the moment china exports far more to the united states than the other way around and wilbur ross the u.s. commerce secretary says the deficit has inspired what he says are evil chinese trade practices china for its part says it wants to see sincerity from the united states but won't accept a

bullying if necessary ahead of trade talks with a high level american delegation on thursday the us treasury secretary steve minutia is meeting china's vice premier during his two day trip try to hammer out a deal to avoid a trade war between the world's two biggest economies beijing and washington and threaten to impose large tariffs in recent months. probably thought you made given the volume of the two economies and the complexity of their relations it is unrealistic to expect to solve all the problems through one single consultation but we believe as long as the u.s. delegations is sincere about maintaining the overall stability of china u.s. economic and trade relations and takes an attitude of mutual respect equal constitution and mutual benefits the consultation will be constructive adrian brown has more from beijing. well there are many areas of friction i guess the two key ones would be the deficit at the moment china exports far more to the united states than the other way around and the united states wants to redress that balance china of though also is accused by the united state

the us treasuries the state the amount of long-term debt itself billion and to $73 also investigatingdding another five year sales to israel or calendar planning to issue a new two-month bill later in 2018. and a political consulting firm at the heart of the facebook data mutilation scandal is shutting down. aysbridge analytica s afterre the solving numerous unfounded accusations as a reason for ceasing operations. it says is being vilified for activities that are not only legal, but widely accepted in online advertising. global news, 24 hours a day, on the air, and at tictoc on twitter. powered by more than 2,700 journalists and analysts in more than 120 countries. this is bloomberg. betty: up ahead as we count down the u.s.-china trade talks, a former official in the content and great administration. marketust ahead, expecting to rate hikes in the next five months from the fed, but is that too much? that is next. this is bloomberg. ♪ paul: i am paul allen in sydney. betty: and you are watching "daybreak australia". no change ofling its path of inflation of the 2% target, and were jo

us on the program. coming up, it's a treasury market at an inflection point? we discuss that. s: death of a bear market. coming up on the show, ryanair ceo michael o'leary joins us at 7:00 a.m. his guidance for the year ahead. we break it down. anna: good morning, everybody. over in singapore, 1:21 in the afternoon. some gains we're seeing here. despite the no trade war headlines. let's get a bloomberg/with juliette saly. -- bloomberg/with juliette saly. a bid for santos. u.s. based company improved its bid by 4.6% and says it could be expanded further. the equivalent of 695 -- 6.95 australian dollars and is an 11% premium to friday's close. chelsea super best chelsea football club owner roman of from of each is facing delays renewing his u.k. visa. he did not attend the fa cup final where his team beat manchester united. he is in the process of renewing his visa which is taking longer than usual. this has fueled speculation that british authorities may be pulling the welcome mat for oligarchs like abramovitz. that's your bloomberg business flash. is the treasury market at an i

officials met thursday morning at the us treasury department. president trump met with the chinese vice premier at the white house that very same day. the joint statement says both parties agreed on court taking effective measures to substantially reduce the united states trade deficit in goods with china. pleasant is a quote - to meet the growing consumption is of the chinese people and the need for high-quality economic development, china will significantly increase purchases of the united states goods and services. this will help support growth and employment in the united states. it is messy but the president has been critical of china's trade practices. on the same to the chinese delegation was said to be meeting with us officials, president trump said this during a summit on prison reform. >> they been taking out hundreds of billions of dollars. it is bad for the country and we're changing it around. we are changing a lot of the horrible trade deals with the take our jobs and our money. >> both sides according to the statement agreed to en

did treasury divide -- provide guidance on the use of administrative funds? did you attend any kind of training online, in person, facetime, did you get any training? >> in nevada, the way i was brought on i was in constant contact with treasury prior to becoming -- i did read correspondence where treasury and state as well as the housing division had expressed concern. >> you did not get training, you did not attend training? >> actually, i came in the door with training because i was walking hand-in-hand with treasury because i came in after the problem was started. >> how about you miss james? >> i wouldn't say we received training, we received guidance, the agreement we signed in terms of facetime, it was discussed at summits that training -- i cannot say that. >> what about you? >> i would agree with miss james, -- >> is that a problem, charged with handling hundreds of millions of dollars, is that adequate training? >> no. >> let me ask you this. miss james, you guys had $35 million for demolition and you repurposed 34 million of that, you spent 1 millio

administration official, trump campaign official, or trump family member called on you to direct us treasury officials or staff members to obscure, destroy, or withhold information implicating the president, trump campaign officials, trump family members or his associates. we asked for this information. we never got a response from the treasury secretary and now we're finding out that it had been scrubbed. the whistleblower who went to look for the information discovered that it was not there. where did it go? it did not move by itself. someone removed this information and the treasury secretary is going to have to answer for this. >> let me shake sure i understand. that letter you wrote to the treasury secretary to say look, mr. secretary, i would like confirmation in writing that you have never been asked to destroy or obscure any records having to do with the president or his associates and what was his spobs? >> none. no response. he did not answer us at all. >> and no explanation? they just didn't respond? >> no explanation no, response, no nothing. and we was asking because we thought

unfortunate but it is indicative that there is a problem in the oversight and treasury has a responsibility. i don't like the idea of us having hearings like this and then coming back trying to fix a problem that should never have occurred to start with. so i just want to know is the treasury take seriously its responsibility to make sure the people o at the state level who are handling federal dollars, taxpayers dollars are not abusing those dollars. >> we are very focused on that mr. chairman. >> what actions have been taken or has anybody been fired or referred for investigation for criminal issues? >> we require states to replace the teams to make sure so we've worked with them to make sure that proper accountability is occurring. >> for crying out loud is there anything they could have done that would have gotten him fired? >> as the review each situation we offer our recommendations. >> at the ask a question of the folks that have minister from the state level to the treasury provide any guidance or training to you or your agent on the use of administrative funds did you attend any kind of training online or in p

department is fdr's treasury secretary recorded all of his meetings. in this book i was able to use the treasury department own words and express their frustration. you can read the actual transcripts of what they are saying and at the end of december 1943 josiah, a lawyer treasury, and said mr. secretary, the only question we have in our minds, i think, are the bowl has to be taken by the horns in dealing with this jewish issue. get this thing out of the state department into some agencies hands that is willing to do with it frontally. for instance, take the complaint and whatever you do with the juice? we let them die because we don't know what to do with them. another staff member added we are speaking as citizens now. armed with their evidence the treasury department wrote a new report titling the report to the secretary on the acquiescence of this government in the murder of the jews. this is a dc town and a lot of us have read government and that is not generally the title of these reports but it began one of the greatest crimes in history and the slaughter of the jewish peopl

the us treasury secretary steve mnuchin is hosting china's vice premier lioh huh.t zte. he banned american firms from selling components to it, because it sold goods to north korea and iran, but he's now willing to support the firm. marianne petsinger is a trade expert from chatham house, here's what she expects. you might see in this grand bargain that tromp hopes to reduce the trade deficit, it may be a deal, the olive branch extended for the chinese branch, lowering the barriers of trade. so it might be a minor step towards just having a better relationship with china on that front and not going overboard. uk fashion chain new look is to review its pricing after customers complained that some larger sized garments were 15% more expensive than smaller sizes. one customer noticed these trousers were $31 and these smaller ones $27. corrine mensah is the winner of miss curvaceous 2018, and says brands risk alienating some customers with these kinds of practices. using more material. but that, we are all ladies, want to shop in the pit. if you're not going to cater t

he appears to have got what are called suspicious activity reports filed by cohen's bank to the us treasurywhere the stories about the american company is came from. the person who leaked that information also spoke to the new yorker magazine, saying were payments from foreign sources as well. in ukraine, we spoke to a senior source, who dealt with the matter in government, and another knew personally one of the men, allegedly the back channel, and they said this payment of a00,000, according to one source 600,000, was made to mr cohen in the early part of 2017. not to arrange a meeting with trump, but to make sure it was not just a humiliatingly with trump, but to make sure it was notjust a humiliatingly brief with trump, but to make sure it was not just a humiliatingly brief few minutes, handshake, in and out of the oval office, but something that mr poroshenko could portray as a success. mr poroshenko could portray as a success. is there any suggestion that any of this money made its way to mrtrump, orthat that any of this money made its way to mr trump, or that he indeed knew of these a

remember that start-up thank you for joining us. >> thank you, guy. >> great having you. >>> former u.s. treasuryarry summers will join us, weigh in on the white house's new tariffs when "squawk alley" comes back. >>> i'm scott wapner top of the hour on "the half time report," trade war and takedown of stocks what it all means for your money. >>> plus the analyst call that jim cramer said was heresy is it time to get out of micron? >>> athena health, revelations of domestic violence and what the company should do about it, if anything. we'll discuss with leadership expert suzy welch all at noon on "the half time report. we'll see you in 15. >> thank you looking forward to it. >>> steel and aluminum import tariffs begins at midnight tonight against eu, canada and mexico jean-claude juncker, calling it protectionism, pure and simple, adding that the eu will not negotiate under threat we will defend the union's interests. something that wilbur ross downplayed with us last hour take a listen. >> these are blips in the radar screen i don't think they change the fundamentals of relationship everybody h

the think there will be more consideration from the chinese to examine the treasury holdings and useainst the u.s.? china will usek that in conventional policy to retaliate at this moment. we have to realize that both want to avoid a trade war scenario and there is time for both sides to come up with a constructive agreement. a trade war scenario, i would think that treasury is something the chinese will talk about. that will have a larger impact on the u.s. treasury market. betty: you think it has come up at all or something hanging over these talks by any means? this moment, especially after discussions aren't on trade only, we have not talked about investment issues. when asked whether treasury would be part of the policy mentioned that is part of the deal. i think we should not underestimate the potential of using treasury as some kind of in the event of a trade war. yvonne: they have talked about how they have intervened in the past year, but it is weaker than expected. >> even without the government banking to a depreciation, the market will take to the weak side. and evidently