u.s. a very volatile session at 10 trading day. we saw the s&p 500 fluctuating 12least 1% in the past sessions. it did manage to end the session higher by .25%, this coming as we saw quite strong earnings reports from walmart helping investor sentiment. that also being helped by the fact that we got some strong economic data. u.s. retail sales jumping the most in four months for a fifth consecutive session, consecutive months of gains. still, there was not enough for the treasury rally to subside. take a look at treasuries because that rally resumed. we saw the 30-year yield now breaking below 2% for the first time ever. the 10-year yield also at one point falling below 1.5%, now at a three-year low. treasuries for do much in demand as we continue to see negative global debt -- treasuries pretty much in demand as we see negative global debt rising to $16 trillion worldwide. japan became the top treasury holder for this month for the first time in two years. of course, china's debt heavily

and the u.s. after meeting with u.s. president donald trump robb is on a 3 day visit to north america. campaigners say leaving the european union will allow britain to sign its own by lateral trade deals with other countries the e.u. is the u.k.'s biggest trading partner. courier service fed ex is ending its deal for ground deliveries with e-commerce giant amazon fed ex is allowing its contract with the online retailer to expire at the end of the month amazon is building its own cargo hold in kentucky analysts say the tech giant could be planning to build its own delivery service making it a potential competitor to fed ex fed ex says amazon only accounted for a little over one percent of its revenue. venezuela has accused the u.s. of economic terrorism and of trying to torpedo peace talks after the trump administration ordered a freeze on the country's u.s. based assets under the sweeping measures any foreign entity doing business with the government of venezuela could face u.s. sanctions. in caracas the chemo to fightin

u.s. president donald trump has canceled a trip to poland as hurrican dorian approaches florida. residents are stocking up on sandbags food and fuel supplies the governor has declared a state of emergency the storm could hit florida late on saturday. ukraine's president volodymyr is a lenski has put together a new government the former t.v. comedian won the country's presidential runoff in april promising a fresh start for one of europe's poorest countries and other political newcomer lawyer or lexi concha rock becomes prime minister. brad pitt has electrified the venice film festival with a blast of star power. it took to the red carpet to launch his new film space epic at astra he plays an astronaut on a life saving mission costars ruth nega and liv tyler also turned out to promote the movie. economic growth in the united states is slowing further the commerce department revising its 2nd quarter figures downwards and investment is also lagging but u.s. and consumers are hanging in there

those who are on the u.s. refinance.tes can there's natural stimulus coming through from lower rates. you don't see much of it in europe. in the u.s., it's more reliable. lower rates does mean stimulus. to go all the way to zero, that is the negative scenario. we're not there yet. we are conservative, not bearish. you will stick with us. hour ont cohost for the what has to be a historical day. the last interest rate hawks can make a stand this week. the nordisk bank will leave its key rate at 1.25% today. it may leave the door open for a hike in september. this would make norway's central bank the loan hawk globally. the governor faces a tough call on whether to stick to a plan to raise again. in june, he said the balance of risks may warrant a rate hike. this would go against the global wave of easing that was kicked off by the fed in july. nejra: they face increasing headwinds from abroad. it is trying to squeeze in a fourth increase to cap inflation. he wants to steer an economy that has bumped up against c

. >> the u.s.-china economic and security review commission held a hearing on the role china plays in global health industries and how that impacts the u.s.. this is about two hours. this is about two hours. >> our second panel will assess china's role in global health and activities in the united states. we'll start with rosemary gibson. i introduce everybody first. we'll start with rosemary gibson whose name has been mentioned already several times if you were here. she's author of china rx exposing the risk of america's dependence on china for medicine which documents the dramatic shifts in where medicines are made in implications for national security and american securities. next we'll hear from ben westoff. mr. westoff's new book "fentanyl inc." which will be published in september. fentanyl kills more americans than any drug in history. and next panelist studied at the rand corporation is an especial deem yol gist. centers on research health among marginalized population. we'll hear from mar

the u.s. deeper into recession and that indeed, it was not a good idea to go down that road. so these seemingly unrelated events are bound together by ne common theme. that is the winter of protectionism. today we would do well to remember these lessons, not used because of the decisions e make now will affect the global landscape for years to come. so what is the view from the e.u.? it is not about trade disrupted, it is the entire global order that is in flux. geopolitics, security and technology are at the core of this change, and trade and economics have been dragged into this reality. they have lost the independence they share before. central to this transformation is a rivalry between the u.s. and china on a geostrategic level, and the competition for technological leadership. trade is but the means that this competition is carried out. what does that mean for the e.u.? we are caught between china's economic model with all the trade, distortions and brings, market distortions that it cre

the u.s. military shows how munitions and weapons are stored supplies for fighters in syria mali or afghanistan. paratroopers practice jumping fighter pilots set off from here on their missions to africa asia and the middle east. defending germany only plays a smaller role according to this expert on the us this is not really given such of course as a bit of protection but at the same time history teacher can portions of ramstein for us foreign policy and security policy not be underestimated. and it's not just the airbase the biggest american military hospital outside continental united states is also nearby doctors and health care workers train here for emergencies and for working in a war zone wounded soldiers are brought here from all over the world. very. soon they will be relocating not to poland but closer to the airfield. a new hospital costing around a $1000000000.00 will be billed more modern and better equipped. forest at the edge of the airbase has already been cleared. the mayor o

on the u.s. side, it was going to be limited resumption of business with huawei, and on the chinese, it was going to be resumption of agricultural purchases. in the past week, we have seen both of those be taken away. that is not a good sign. we have talks in september that are scheduled. big questions over whether they will actually go ahead. nejra: still ahead, as we review the week on "bloomberg best," legendary investor howard marks shares his thoughts during a wild week for global markets. plus, former u.s. treasury secretary larry summers weighs in on the risks of currency wars. up next, more the week's top business headlines with earnings reports. >> with the debt they have, with the stock price where it is, it will be difficult to do another deal. nejra: this is bloomberg. ♪ nejra: this is "bloomberg best." i am nejra cehic. let's continue our global tour of the week's top business stories with a deep dive into a flood of earnings reports. hsbc was among several european banks releasing

the u.s. and these were friends of a shadow were that i experienced firsthand on the ground in ukraine as the little green man in europe in the 21st century. on a spy plane as china manufactured territory in the minutes of a half dozen allies. i went on to the arctic where u.s. reinforces our training to track more capable private, another stop in this work. i spent weeks traveling around the u.s. space command and the president has talked about a space force, the u.s. already has a space force in the base command and there's already a space for on the way in the heavens above us. so i was traveling and of course many years both regarding russia and china is seen more connections that both russia and china are using with great effect. now you write about these things, talk about and colored by the political advisors. i want towe be clear it's not a political book. by both republican and democratic administrations in their approach to russia and china. and just to establish the point section wh

u.s. truck income is paid u.s.-based drivers more than $3.25 billion in wages plus health insurance and retirement plans in 2018. simply put, trade is crucial for the blue-collar workers and the trucking industry. failing to pass usmca would have negative impact on truck drivers along with the customers we serve across north america. manufacturers can farmers, retailers and consumers. the american trucking associations were under the board alliance and trucking industry urges congress to ask with and support ratification of usmca. we stand ready to help drive this agreement across the finish line. thank you again for the opportunity to testify today and i'm happy to answer your questions. >> secretary vilsack, thank you for coming. >> thank you, mr. chairman. senator wyden and members of the committee i want to express my appreciation for the opportunity to appear today. this is a meeting and hearing that is important to 110 members of the u.s. dairy export council as was the 39,000 family farm operations that prov

the selling we saw in the latter part of the u.s. we see u.s. futures pointing higher this morning, whipsawed by those more positive comments by president trump at the g7, talking about how china wants to do a deal. as such, we might see some of the trade sensitive stocks confused about where to go. follow the u.s. futures up for today. this is where we are gripped right now. luxury eyewear up 1.4%. deutsche lufthansa surrounding what management they are targeting, catching attention. stock up over 1%. let's move to the downside and have a look at what's moving there. rockwall is one of the stocks on the slide, down more than 4%. they are rethinking targets. than sensitive down more -- really, it's a big picture story that matters. equity markets following the u.s. lower friday. keep an eye on u.s. features. perhaps that dictates where we go. let's get a bloomberg first word news update with annabelle droulers in hong kong. anna.lle: thanks, well, a trade deal with u.s. and japan in principle. president trump announced it would slice tokyo's tar

the u.s. and china sara, back over to you. >> i'm sara eisen. welcome to the final hour of trade. the dow was down 580 we are down 544. we are -- let's tell you what's driving the action the president lashing out at china and fed chair powell after china promises a set of tariffs. jay powell declining to signal more easy monetary policy. the yield curve inverting yet again. how will business respond? how will it impact the economy more importantly, what does it mean for the market and investors? and then a news making interview you cannot miss. federal reserve vice chairman richard clarida from jackson hole we are covering the angles with the team of reporters as always. elan, first to you on the china fears which appear to be trumping the fed speak today. >> nice, sara. we are waiting to see if president trump will make a statement on those latest trade tensions with china and the new $75 billion in retaliatory tariffs that were announced this morning. we know there was a meeting at the white

after german cars and french wine u.s. president donald trump's most recent beef with the european union was with well beef the u.s. had long found it hard to export its meat across the atlantic after long negotiations trump's announcement on friday sounded like a triumph to the farmers and ranchers listening in the white house. opening markets for our farmers is about more than just an industry it's about a way of life generations of hard work passion and dedication of gone into making america the largest producer of high quality beef anywhere in the world by far we're proud of our farmers and ranchers we love our farmers and ranchers and with this announcement we take one more step and giving them the level playing field that they have looking dave really been looking forward to this for many many years you folks know that they want a level playing field that's all they want on the subject of level playing fields u.s. farmers and ranchers will also have to change their ways the agreements doesn't mean the e.u. is easing

u.s. attorney general william barber moved the acting director of the prisons after the suicide of jeffrey epstein we discussed the conditions at the jail where epstein took his life with his former lawyer. is fundamentally wrong with that is that jeffrey actually did not long enough to salute again. and the u.s. military and that's his plans for a new intermediate range hypersonic missiles so after pulling out of the i.n.f. treaty with russia and test launching a new cruise missile. silo you're watching international i'm rosana lockwood thank you for joining us. more than a year of tensions in italy's ruling coalition have come to a head with the italian prime minister just sepic on to resigning that's out of the country's interior minister must call for a vote of no confidence it once again leaves italy in a deep political crisis. well that resignation over its lease prime minister said because they had been widely speculated for the last few days and now it's happened to force plunging

u.s. embassy last month said his condition has worsened. weiland read a statement to reporters. no crime ever occurred. there is no evidence of a crime. this isolation has been used [inaudible] mark: whelan who holds british, irish, and canadian citizenship was arrested in moscow of december of last year and charged with espionage which carries up to 20 years in prison. he has complained about poor conditions and said his life is in danger. nebraska's highest court has lifted one of the last major hurdles for tc energy policy keystone xl pipeline but challenges remain for the $8 billion project which has been on the drawing board for a decade. the project is tied up in a legal battle in montana over itmits and tc energy says has already missed the window for beginning major construction work this year. environmentalists claim the pipeline would contribute to catastrophic climate change. david cote him an industrialist libertarian and philanthropist is dead, according to the bloomberg billi

well i mean clearly the u.s. president can force the u.s. corporations to move their business away from china about to it clearly marks an escalation point in the trade relations between china and the u.s. and after the market closed here on wall street u.s. president on a drum announced that he is going to increase tariffs on chinese imports and investors on wall street clearly got to call it on the wrong foot and then specially shortly before the weekend nobody really wanted to have too much risk in in the market before the weekend and we saw quite a sell off here on wall street at some point. by about 800 points by the end of the day blue chips were off by a good 600 points and that marks the 4th consecutive week of the losses here on wall street a fast moving story right before the weekend we can all relate but stick around because there's more to get through and to another target of trump's ayer u.s. federal reserve chairman jerome powell has been under pressure from the president to slash the interest rate soon a powell has given littl

when the u.s. spawn on one way it was announced 3 months ago it was a big deal for the likes of google as it meant it wouldn't be able to sell updates of its droid software to while away phones many other u.s. companies such as the chip makers qualcomm and broadcom would also be affected. but over the weekend speculation grew that the u.s. would postpone the ban on monday u.s. commerce secretary wilbur ross confirmed news of the 90 day reprieve saying it was to help u.s. companies prepare further for a time when there would not need while with some of the rural companies or dependent on more ways to agree moomaw turn to wean themselves off but there are no specific clothes and food is being granted through anything while issue has added to the complexity of the ongoing us china trade conflict president trump has consistently called the company a security threat and he has tried to use the issue as leverage in the trade negotiations over the weekend he made it clear that he has not softened his posi

u.s. and president trump ordered companies to leave china. slumped afterket the u.s. president warned he would hit back. to come backre due in september and will target u.s. agricultural products, crude oil and cars. he will have more in a moment. first, let's go to heidi joe castro who is in washington. it is not clear how president trump can compel u.s. companies to in the operation in china. >> that is right and that is the most stunning part of these series of tweets is. he had a very strong reaction to beijing's reaction that these tariffs are coming and the president tweeted that u.s. companies are hereby ordered to immediately start looking for an alternative to china, including bring your company's home and make products in the usa this speech directed towards private u.s. businesses is unprecedented in american history and there is no clear indication how the president can even begin caring forth on this order of his, but what we do ,now is that indeed, investors the dow has had a

if the u.s. and you and forces had not been able to operate in japan i think south korea might not be free today. korean forces did not hold the line on the peninsula japan would be a much less safe and prosperous country. the dna of these alliances has intermingled. it is complicated. the general was reminding me that in the middle of the great war the president at the time troops went one the peninsula to attack them -- it is two deeply interdependent alliance is. i'm not going to ask general brooks to solve this problem because the admiral will solve it. [laughter] >> it is a political problem. it is a military problem in the sense that, you tell me. what are the consequences for us? security of japan and korea and the united states when our forces are unable to operate and train intelligence exercises between these alliances? you to michael for the privilege of being able to enjoy this body of patriots who have done the work for each of our countries and for this cornerstone alliance. it has

has put out of the treaty is that china is not a signatory to it so the u.s. sees china as its principal geopolitical competitor of a challenge that is far more familiar bought and injuring than putin's russia so the last few decades china has made enormous progress in these missiles most of china's miss else would have been banned under the treaty if china has signed on to it and china in fact now has one of the most events into media range to sell forces in the world so what's china's next move. china's reaction so far has been predictably negative beijing has urged the u.s. and russia to stay in the treaty it has said that pulling out the treaty is destabilizing but of course part of the reason why the u.s. is pulling out is because of beijing in addition to russian violations of the treaty the white house despite its fondness for you know actual isn't doesn't see the reason why it should be unilaterally constrained by this treaty beijing will most likely continue its protest and indeed take countermeasures against u.s. deployments of these new missiles to

u.s. once again delays a ban on doing business with the chinese tax supplier always had excess are far from over. also on the show rushes over the version of google call that you want to put you in the bag. and nobody in the front we take you want to go out. and put your game face on tells its game tom the world's largest gaming event it's back to the were there for the opening. this is p.w. business i'm joined on in berlin welcome officially u.s. companies are now supposed to already be banned from doing business with chinese tech supplier while way but the u.s. is commerce department has again given wall way in 90 days they its 2nd one in a row the move is about odds with the u.s. president donald trump's harsher messaging towards the company leaving many unsure of what to expect when the current reprieve and in november. when the u.s. spawn wow it was announced 3 months ago it was a big deal for the likes of google as it meant it wouldn't be able to sell updates of its droid software to

we are five or six in the u.s.? annie: five listed in the u.s. one more in the pipeline with global x trying to come in. the state that we are in right now is really -- there is a lot of excitement over pot etf's. it has been a big year. you have two new launches with yolo and thcx. the sec is asking for statements squaring away some of the legal issues that might be hanging over these funds. that has been a development as well. eric: meb, let me talk to you about this. besides the great ticker toke, i think that is not wash motor -- mount rushmore were the already, and the cheap 42 basis points or .420, one thing i noticed, the thematic capture score is a little lower. your media market cap is higher. are you purposely going into some of the bigger names by design? meb: there's also a little bit of cash. here is the thing. we have launched 12 funds. never launched a thematic fund. i would tell people the thematic funds do not offer any value added benefit over time. why are we doing it? we think there are times when thematic funds make sense lik

the u.s. more than 100 points on the dow futures, this coming off, you can see now 45-point loss on the futures here on blue chips, dow suffering worst day of the year yesterday falling more than 800 points. all three major market gauges finishing down more than 2.9% on global growth and trade fears and welcome to, everybody, here with me this morning mainstay management capital david, cfra investment strategist lindsey bell, wall street journal assistant editorial page editor, james freeman. much made of the inversion of the yield curve between two-year yield on the treasury and the 10-year, but what do you make of the markets right now? >> well, we had really a trifecta, the poor numbers out of china with industrial production worst numbers in 17 years. we had a poor number for germany, gdp negative, second time in four quarters, fourth largest economy, the world's largest economy in europe, of course, the inversion of the 2's to 10's that we've all been waiting on. we have seen other parts

regarding the u.s. at this stage, we don't see any negative impact on the trade war. >> we are not immune to what is happening in the micro and trade war sides. it gets into the resilience of our portfolio. >> we have seen some impacts on the industrial base exports getting slower. it is having its impact. >> we see more uncertainty in the markets, but also in the macroeconomic environment. that is why we are a little more careful, especially in the semiconductor space at the moment, and expect the second half of 2019 with the recovery in the first half of 2020. >> this will hurt all regions in all countries. it is an illusion to think this will be a win-lose scenario. matt: china's price index contracted for the first time in nearly three years, dimming the outlook many manufacturers. prices fell 0.3% from earlier. joining us is the senior currency strategist at cba europe. what is your take on the trade war and where it is headed? it seems we continually get bad news, and there is very little respite.

the u.s. was preparing to do this. that the fact that they launched this tomahawk missile from a mark 41 launcher proves what russia had been complaining about when the us put these agents missile systems near the russian border russian western border and said oh these are to guard against iranian missiles which of course don't even exist there are no russian intermediate range missiles based around the united states and there aren't any chinese intermediate range missiles based around the united states the united states however wants to return to a situation like pre 987 when the u.s. said pershing missiles highly accurate 300300 kilogram ton were head missiles all over europe aimed at russia and the danger of these missiles is that they can strike their targets within minutes so it forces countries like russia or china to put their i.c.b.m. sign here trigger response this is very very dangerous time now and it's a going to lead to an enormous arms race. have a german captain of a migrant rescued by tell pricing in th

the u.s. confirms carrying out the 1st test of a cruise missile previously banned by a treaty signed between moscow and washington over 30 years ago. also to come u.s. attorney general william bass sax the director of prisons after the suicide of geoffrey epstein he discussed the conditions at the jail where he took his own life with his former lawyer. fundamentally wrong with that is that jeffrey abstain did not belong in that facility to begin with and it's been revealed that british social media network and young muslims is part of the u.k. government plan to tackle radicalization. and i welcome it's just on midday here in moscow you're watching international our top story this hour the u.s. has conducted its 1st test of a 500 kilometer cruise missile a type previously banned for over 30 years under a now defunct arms control treaty between moscow and washington. as that the sides . well we have official word from the pentagon that indeed there has been a test of a missile that would have v

there are not happening in the u.s. because u.s. companies are federally legal, state legal and therefore the big multinationals are still watching, but not doing anything. they are waiting for regulatory moves and that has stalled in the pre-election year. >> do you expect that to come out in 2020? >> i can tell you democrats in the house are at least going to vote in the fall having to do it ranking and the senate has started to debate the issues. although it is thinkican-controlled, i president trump has said if the -- if there is legislation in front of him, he will sign it. joining us, for chairman of to really. no longer retains audio recordings of interactions with siri. to improve the product, but the program was suspended a few weeks ago. has been sharing partnerships with hundreds of police departments around the state. police can automatically request video and homeowners can decline those requests. to go quietly raise its minimum wage to $15 an hour. she asked the ceo on whether he would consider raising the minimum wage

and the u.s. you know the reason processing takes wherever but it's also important to know that one for a lot of the students when they're inside because of those processing times they actually are stuck in the us sometimes for you know durations of their entire duration of study which is you know 56 years and so the opposite also applies that there are isolated you know from you know friends and families and and also having basically access to you know what we call back home basically yeah so they start to stay here for long durations of time if there are conferences now outside of the u.s. . they actually cannot attend either so it kind of goes both ways. you know either both coming in or leaving is a problem or for a large group of students and i think the extent that is the problem i think is different for different groups of students from different countries so you kind of get this you know a caste system where there is a different group so students. having to adhere to you know more and more

last week thursday the u.s. says that he's not a honest broker and he acts on behalf of the supreme leader ayatollah khamenei and this is the basically the establishment in iran getting behind their foreign minister and that the papers here have been carrying comment pieces and saying that this is essentially shows the failure of u.s. diplomacy and this is a victory for the reef and these skills and intellect but not only that to see a sense of national pride that the u.s. could not deal with the iranian intellect and logic also in another remove the major general of the oil could force bell could force deals with operations outside of iran mainly iraq and syria met with zarif now the meeting is not rare but what is rare is that the fact that it was made public again the different factions inside this country getting behind the foreign minister is president rouhani saying that the reef is the primary spokesman for iran outs in the world so outside of iran so essentially what the u.s. sanctions against zarif have

some u.s. politicians out of the wrong political necessities disregard the fact of right and wrong, make small things big and turn black and to white. what is supposed to be a simple problem became complicated and clean water is muddied. tom: the u.s. treasury has sanctioned three chinese nationals and two companies operating in china. will you be taking action againstthese actions companies that operate fentanyl products, according to the u.s.? at the time these people were making these substances, the chinese government hadn't announced wider controls so at the time, what these people were doing didn't violate china's law but some in the u.s. political circle take issue with this and want to implement sanctions with is not -- which is not productive at all. argue that with the power you have at your hands, a budget for domestic security of about $200 billion come if someone in the politburo turned around and said fix this now, close this down, you could do it. minister yuejin: we do admit tha

could a u.s. u.k. trade deal help offset the economic damage of a no deal bricks it british prime minister boris johnson thinks so but from the u.s. congress there are strong voices of concern we'll tell you why. and also coming up the drug maker johnson and johnson find over its role in the opioid epidemic in the united states. welcome to the business i want to get johnsonville and good to have you with us now the g. 7 summit india it is ended and there were some surprises there including u.s. president on a trump sharing a fun press conference with german chancellor angela merkel and talks of a possible u.s. u.k. trade deal now one that could help offset the economic damage of a no deal breaks it at least that is what british prime minister boris johnson has been touting lately but not so fast the u.s. congress has a say on every trade deal and many congress members fear that a no deal breaks it would return new controls to the irish border undermining the 1908 good friday peace agreement which ended

david: is u.s. influence in the region diminished, and maybe because we don't need oil months we needed it. martin: it has dramatically diminished from the heyday of henry kissinger's initial forays into the middle east, laying the foundation for the peace process in the 1970's. america has dominated the region since then. in recent years, the combination you suggest of reduced importance to the united states of middle eastern oil because we are now the largest oil exporter in the world, combined with a weariness in the united states, a sense that our military interventions in the region have really not benefited the united states. we have wasted a huge amount of blood and treasure for no clear gain. this disillusionment with the west combined with a sense that the rise of china and asia is more important to our strategic means thehese days, united states is less engaged but also has become less effective. we have not been able to move the peace process forward. we screwed up royally in iraq. we hav

in u.s. futures, i talked about the better close yesterday with all the majors closing up 1% today we have a little negativity on the board. seen opening up in the red but only slightly so, down about 46 points weaker. >> well, the iranian president says there will be no change to the status quo unless the u.s. lifts sanctions. his comments come a day after president trump said he is open to meeting his counter part, quote, if the circumstances are correct. rouhani says they're ready to hold talks only if washington ends, quote, all illegal, unjust and unfair sanctions it sounds as though the ball is very much in president trump's court now. >> you're a great student of the region as well i think basically you have two very different opinions about what the other side needs to do in order to start talks, in order to take away perhaps some of the tension in the region and while the iranians are saying we're not going to change our position and we're not going to change our position on ballisti

the u.s. army garrison humphreys, america's largest overseas military facility. the defense department has agreed with the republic of korea allies to accelerate the transition of wartime operational control so the rok can lead the defense. we continue to always go together. turning to japan, our largest overseas host of u.s. forces in the world. 55,000 u.s. service members and their family call it home. with enhanced capabilities we are reshaping the u.s. japan alliance especially as japan has evolved into a trusted partner and security partner for numerous countries in south and southeast asia. the bilateral alliance with both of these countries is important to us and the important trilateral cooperation has allowed our countries to take on the most challenging national security issues since world war ii. from the challenges presented by the soviet union during the cold war to the threat posed by north korea to the emerging challenges that china presents as a global competitor. to speak a bi

i think this is still a u.s.-china issue and if we are unlucky, a u.s.-eu issue. we have to keep an eye on it. there's a downside to the economic outlook and it comes at a bad time for china and other asian economies already slowing. nejra: on the effect of stimulus, what would be the most effective stimulus for china to employ now with the yuan weaker than seven? kallum: what china needs to do is hurry up with its shift toward service and domestic spending. get out of the capital intensive growth model. the problem is, it is constrained by its own growth target. the 6.5% to hit target. if you don't do that, you risk political unrest. the best thing china can do is let the economy soft and on capital and investments and then try to reform its consumer services and household spending. that takes time. again, the whole trade war issue comes at a very bad time, especially when you have lots of households in industry sectors that are export related. matt: you are here to stay with us, we have a lot more to talk about. a lot going on for monday morning to kick off the

the u.s. and china >> only 20% of our total manufacturing capacity is in china. so we will only see in the short-term very little i8 pact f impact for the consumer. it's much more concerned about the potential weakening of the renminbi when you have 25% of your business in china and the local currency, the moment china weakens their currency is tt itd impact our results so a currency war will have no winner for companies or regions. >>> chinese exports in july grew at the fastest pace since march growing 3.3% from a year earlier. imports fell by 5.6%, but that number, too was also better than the forecast eunice yoon is in beijing and will examine the trade numbers >> reporter: china's trade number for july surprised to the upside exports rose more than 3%. imports shrank but less than it expected it appears global demand is holding up though exports to the u.s. contracted showing president trump's tariffs are taking their toll. august data will likely be supported by a rush of shipments as fa

they have kind of agreed with the u.s. that they would not target u.s. troops in afghanistan under the drawl and the u.s. will not attack their fighters so that is something still pretty vague i would not say it is like i would not bring the and die that it is in the strategy and do it at the moment taliban and the u.s. are trying to do to minimize the casualties they don't want to attack each other and god or something which is going to happen and you know it's a deal is done does that mean peace in afghanistan well not at all i mean there is there will be a lot of rounds of talks the u.s. and the taliban agree on a deal here there will be in draft gone dialogue and we do not know what the taliban want what they've gone government wants everything is pretty unclear at the moment but it will be a 1st step the u.s. and the taliban agree here in the something that would lead to further negotiations between the have gone flares and they have to agree on a political set up obviously the u.s. will be backing all those negotiations but these i would say at the

conservative activists in the u.s. celebrate after a court agrees to reconsider a case accusing global tech giants like google and facebook of an anti conservative bias. and they ship captain who faces jail for saving migrants from the mediterranean has turned down a french braid award accusing paris of hypocrisy as european states still wrangle over what to do with newcomers. watching our attention national coming to you live from the russian capital where it's just turned 6 pm welcome to the program. where putin has ordered an analysis of the threat posed by a new u.s. missile the weapon was recently tested just after washington pulled out of a key arms control treaty with moscow the russian president also ordered a symmetrical response to the weapon. has the story. there you have a and all the latest developments in statements are in essence the new reality of the world without the intermediate range nuclear forces treaty how murder by washington and moscow decades ago and eventually torn apart after an announcement

. >>> stocks rocked as the u.s./china trade war intensifies, sending shock wroes h wall street and rattling the glol economy. >>> ready toth act. federal reserve says it will do what is necessary to support the economic expansion, but adds that there is no rule book for a trade war. what you can to keep your . money safe and your personal finances sound in a market like this. those stories and more tonightb on "nightlness report" for friday, august 23rd. >>> and we do bid you a good evening, everody, and welcome. investors went intoay this knowing it was going to be an important one for the markets, and it was, but not for the reasons that they thought. it wasn't the highly-anticipated speech from fed chairman jerome powell that sparkedy' to intense selling. instead, it was a new record ou tariffs imposed by the chinese ndvernment on goods president trump's response to hike more tariffs on chinese goods. it all served to escalate the trade waretween the world's two largest economies. that clouds the outlook f theon

the u.s. does something very strange because it both brags about its reach and its extent its dominance of the world and tries to hide it and cover it up so if you watch a sports event on t.v. in the united states they thank the troops for watching for 175 countries and there's lots of celebration of that but if you ask in washington d.c. exactly where are the bases and what are they costing and what purpose are they there for it's very hard to get answers if this is not a radical claim a proposal that the u.s. public ought to know where it's paid for what and how much it's a you know what the purpose of those things is if you're going to wage all these wars and extend all these bases in the name of democracy why not have a little bit of democracy around the issue. now a saturday's the 5th anniversary of the chinese government's decision to impose limits on elections in hong kong a move that triggered the umbrella movement protests back in 2014 when a price rally is planned for today russian i

the u.s. imposes sanctions on iran and foreign minister jobs are in for acting on behalf of the country's supreme leader. and you're watching our desire live from doha also coming up. democratic party front runner joe biden comes under fire in the 2nd round of debates from other u.s. presidential hopefuls. 15 members of a family are born in the democratic republic of congo amid fears of a wider ebola outbreak. political divisions within the u.k. are out in the open as far as johnson visits belfast for the 1st time as prime minister. so the united states has imposed sanctions on iran's top diplomats it is accusing the foreign minister job of promoting what it calls the reckless agenda of iran's supreme leader zarif has had back saying it's all because the u.s. considers him a huge threat also and jordan has more details from washington d.c. . the u.s. is not from pressure campaign against iran has claimed a new target for mr jobs a real american educated comfortable in front of the cameras and

u.s. confirms carrying out the 1st test of a cruise missile previously banned under the terms of an arms control deal signed between moscow and washington over 30 years ago. u.s. attorney general william barr saxe the direct proof prisons are in suicide jeffrey epstein and discuss the conditions of the jail where he took his own life with his former lawyer and a british social media came to young muslims has been revealed to be a part of the u.k. government's plan to tackle radicalization. hello there she's gone 9 in the morning here in moscow you're watching international now the u.s. has conducted its 1st test of a 500 kilometer cruise missile a type previously banned for over 30 years under a now defunct arms control treaty between moscow and washington are reports from new york. well we have official word from the pentagon that indeed there has been a test of a missile that would have violated the intermediate range nuclear forces treaty that treaty has now expired and the usa has cond

the u.s. approach to saudi arabia, our relationship and its future. however, before i turn to today's program, i would like to say a few word about the middle east policy council. the council was established in 1981 for the purpose of promoting dialogue and education concerning the united states and the countries of the middle east. we have three flagship programs. our quarterly capitol hill conference, such as today's event, our quarterly journal, middle east policy, which enjoys a strong reputation among those with an interest in middle eastern affairs and can be found in 15,000 libraries worldwide. and i think very importantly our education outreach program. teach mid east. it provides educational resources for the middle east, targeted mainly toward secondary schools to students and teachers. please visit us on our website. www.mepc.org and our teach mid east program at www.teachmideast.org. this program is being live streamed on our website. so i'm pleased to welcome all of you who have j

reliance by the u.s. on foreign sources is an issue .hat must be addressed allowing other departments to address this piecemeal will solutions.optimal way tot effective address this issue is to use the buying power of the federal government in conjunction with effective laws and funding, to partner with the nations pharmaceutical production -- producers as one example to obtain necessary and for structuring capabilities, to independently meet u.s. the mystic and to compensate producers adequately for maintaining these capabilities. dod is wholly dependent on the consumer market to produce and distribute pharmaceutical products it requires, spending approximately $7.5 billion annually. dod must work with the constraints of the commercial sector and market forces that drive or shape it. depending on the commercial sector is a two-way sword. to reapes dod efficiencies of the competitive commercial marketplace and also makes dod dependent on the sources that competition produces. dod, through our colleagues a

we ended the friday session in the u.s. we some pressure with u.s. stocks sinking as the u.s.-china trade tensions increased. there was such a wild roller as though you on ended the week down half a percent. it is worth noting it was down almost more than 1% at one point, after president trump says the talks with china could get canceled for next week. still, it pared back the earlier declines after we heard from a white house official that suggestions that the u.s. might not do business with huawei anymore, they walked back the comments. semiconductors were some of the biggest losers in friday's session. the nasdaq down 1%. u.s. futures at the moment gaining 0.1%. all eyes now on asia on this monday as we have markets out of action on holiday. that's right. if you take a look at stocks in asia, they are set to kick off on a cautious note with futures winning lower. sydney futures down more than 0.1%. on friday, we did see despite that wild week in the u.s. the nikkei and kospi closed higher for the second consecutive day after the second straight days of losses. to watch and

in the u.s. employers added 164000 jobs in july according to the labor department the figure continues a record hiring streak however the average workweek fell to its lowest level in nearly 2 years as manufacturers reduce hours for workers that economic growth is slowing. the european union has nominated crystal to lead the international monetary fund ending weeks of impossible in the 20 countries . is from bulgaria and is the current chief executive of the world bank i.m.f. member countries can make nominations until september 6th traditionally the i.m.f. is led by european contrasts the u.s. gets to appoint the president of the world bank. amazon boss jeff bezos has sold $1800000000.00 worth of his shares and that company sale took place over 3 transactions at the end of july media reports say baselessly use the money to fund his space venture to origin over to asia now where south korea is the 1st country to be dropped from japan's white list of favored trading nations a move that could slow e

initial estimates indicate the u.s. beef will grow by over $270 theion a year once agreement is fully implemented. with this new exclusive, country specific quota american ranchers have a guaranteed market share. we look forward to the eu approving this agreement expeditiously. >> mr. president and ladies and gentlemen. i am honored to be one of the signatories of this agreement. [inaudible] for the u.s. this provides [inaudible] and the wto. we are connecting this in good spirit and it is a great example of how the trade system can work for trade disputes. we -- with this agreement we reaffirm commitment [inaudible] to the trade agenda and a new faith in the eu-u.s. relationship. the agreements will be sent to the parliament and we hope to obtain [inaudible] as soon as possible. of the a priority presidency. i would like to thank those negotiators on both sides. pres. trump: thank you. >> ladies and gentlemen, today is about delivering real positive tangible results of the transatlantic trade relationship, the stronges

yield fells the u.s. below 1.5% for the first time since 2016 in yesterday session. -- yesterday's session. the markets await a response from china on the trade back and forth. beijing called looming u.s. tariffs of violation of the accords reached by president trump and xi. this as china has lost its status as the top foreign creditor to japan. of not a market rally but a political rally, president trump said he has a call scheduled to the chinese president scheduled soon. where central-bank policy is concerned, investors have priced in a quarter-point reduction. a dovish policymaker from the st. louis fed said although that is priced in, he need to rush no into rate cut. that is james powell. joining us is a portfolio manager. what do you make of this when you put it together? cutting 50the fed basis points or 25? >> the idea of doing something that appears panic driven could be counterproductive. it is fortunate in the sense central banks have had dry powder to use. there is not much to cut out when it

i know that the u.s. president has intimated exactly those words numerous times since he became president and leaders here in europe they're scratching their heads a lot there's trying to understand u.s. politics in this age of donald trump is would you say is he a a phenomenon or is there something deeper here is there something about the soul of the republican party your party right now that is in jeopardy well donald trump is an outlier an aberration i can't explain exactly how he came to office but i am hopeful that another year and a half we can correct that mistake i think we have seen the full manifestation of donald trump and increasingly people are seeing that error of their way there's. i want to ask you about what we've seen happen in the united states recently with these mass shootings your party remains quiet following the man shootings in dayton ohio pastor texas and what point do you decide to exit the party in order to rescue the values that drew you to that party to begin with. well i exp

but the problems are outside the u.s.. the u.s. cannot stay immune to the issues happening globally. i think you have to look at the ecb or europe as sort of being the leader of all of this all thisinformation, negative data leading towards the u.s. rallying more aggressively and equities falling. guy: what seems to be catching my eye at the moment the most is the rate of decline in terms of the data coming out of germany, and particularly china. it is the delta there that i think is frightening. do you see the same thing, and do you see the rate of decline as picking up? nick: absolutely. europe is sort of the of hit me of this -- the pit of me of this -- the epitome of this. all they've really done is be able to push rates lower. whetherthe problem with a lot of these asian or european economies facing negative interest rates, whether the central banks are hanging their hats entirely on negative interest rates being able to solve the issue. all it's been able to do is really just distort markets even more. taking a step back and