the u.s. and china have been at odds over trade and economic policies for the last 2 years when the crisis began in 2018 trade amounted to more than $737000000000.00 but it's declined considerably since that in january washington and beijing agreed on a 1st step towards a truce china promised to open up its markets and buy more american goods in exchange the u.s. agreed to lift some of its tariffs but not all leading to yet another standoff and the international monetary fund cited the dispute when it cut projections for global growth to the lowest since 2009. let's bring in our guests joining us from new york is john biggs a reporter for tech crunch in beijing and democracy in a research fellow at the center for china and globalization and in london ishant sus tree a visiting research or of alan turing institute at the university of surrey in the united kingdom welcome to you all john begin with you a get a straight for question for you what will 5 g. letters do that 40 card how important is

u.s. further prisoner swaps between the united states and iran are expected after 2 releases in the past 3 days a u.s. navy veteran flew home after almost 2 years imprisonment for insulting iran's supreme leader that's after any rainy and professor acquitted of stealing u.s. 8 u.s. trade secrets returned to tehran victoria gates and the reports. a free man michael white arrived in zurich on his way home to the united states the u.s. navy veteran had been held by iran for almost 2 years i would do want to extend my personal thanks to the president for his efforts both diplomatically and otherwise in making america great again and for what's going to happen here in the future white was released as part of the deal that saw washington free american iranian scientists sirus askari he's now back in tehran iran's foreign minister tweeted that another radian american baiji to harry had to say be released from u.s. custody to go shooting with the iranians is never a linear process there's a lot of

he was a u.s. military academy graduate, he graduated seventh > out of a class of 52, so substantially better in terms of academic performance. his career stretched from 1853 to 1895. a lengthy career. he was the recipient a medal of honor and had served in the civil war and attained the rank of major general. he would subsequently be the secretary for president johnson. and culminate in the final position of commanding general of the u.s. army. he had a very distinct military career. near the end of his career, he was sent on a secretary of war survey of france, he went to the hawaiian islands, he traveled a good portion of the world. at west point, he was a philosophy instructor among other topics. math and physics. in this regard, schofield demonstrated a variety of abilities. it is here, in particular in his memoir, he emphasized the army's role in a number of important facets of american life. he makes an argument in the upper paragraph about coastal defense and atrophying defenses of american

the u.s. is dead set on doing and with good reason, they are a trusted and wonderful partner and a buttress of american security. they rogue court can intimidate our friend or any other ally into giving up its right of self-defense, that puts americans at risk as well. absent corrective action, we expect the icc will continue its present reckless course. i have laid out the courts process laws and to the danger it poses to americans and its allies, but we oppose the court also because it is ineffective and corrupt. in 18 years of operation, the court must have to buy nearly 1000 people, have secured only for convictions and they have spent over $1 billion. nonetheless, the judges recently brought suit against their own court, seeking a 26% pay raise from their tax-free annual salary. that is a quarter of a million dollars u.s. dollars. this record of botched prosecutions has cast doubt on the courts ability to function at the most basic level and demonstrates a highly politicized nature of thi

as the u.s. reopens the economy and many states enter phase 2 of the country's largest movie chain amc theaters announced it plans to reopen 450 cinemas in july cinemark is also following suit and looking to reopen its doors well we already know cove in $1000.00 has cost the entertainment industry an estimated $30000000000.00 that number keeps growing with each passing day in other countries theaters remain closed china's roughly $70000.00 movie screens remain in the dark this cuts off the world's 2nd largest market 2019 china made up $1200000000.00 of the global box office approximately $2100000000.00 went to hollywood in $20000.00 that number was $3200000000.00 and in 2017 it was $3400000000.00 that went to american studios for comparison the u.s. holly was $11200000000.00 and the 2 countries make up nearly half of the world's total movie ticket sales of $42500000000.00 for more we're joined by the cure of com score paul good to see you thank you for being with us today. good to see you sirrah

and the u.s. in response apartment transportation has said if you'll do that for us then will do that for you so it ratcheted up really quickly and then it came back down really quickly a little bit of bargaining here it sounds like but flights between the 2 countries are mostly governed by an agreement 1st sign in the 1980 but the trouble ministration says that china is violating that agreement why is that. well essentially that agreement is what the u.s. air carriers used to be able to go in and out of china delta and a couple of other airlines said that they had been in contact with china and requesting to be able to kind of re begin service to chinese cities in various chinese cities but they weren't getting any responses china would not speak with them directly or respond to their requests as to when they could get that service up again that's what the u.s. department of transportation said was a violation of that agreement from 1980 and essentially use that as kind of the jumping off point t

well the u.s. senators including texas as ted cruz have put forward a bill in the united states that would put the sanctions on any company and insurance firm related to those companies involved in the laying of undersea gas pipelines as part of the north stream project now the german foreign minister the german government saying they reject that out of hand the fact that sanctions are considered or could possibly be nice should in the united states does not change anything in our position and nor extruded to sanctions been discussed now are extraterritorial by nature from. the german government has long had the view that sanctions with extra territorial effects are in conflict with international law and that they're not a contribution to advancing international corporation not stream to is the name suggests the 2nd phase in that this underwater gas pipeline project it takes russian gas directly from russia into germany a multi 1000000000 euro project and involves companies from a number of differe

u.s. unemployment declined slightly from its highest levels during the crisis of the coronavirus pandemic as some businesses and factories reopened president donald trump was quick to claim credit saying the economy is taking off as he put it like a rocket ship will go back to having the greatest economy anywhere in the world nothing close some economists disagree saying the economy is still staggering and millions of workers still suffering it's a small blip in what is another wise belleek jobless picture i think it's important to remember that we had the highest level of unemployment the u.s. census the 2nd world war last month the picture in some groups likely since then we've added about 2 and a half 1000000 jobs but it is important remember that there are still 19600000 workers who are and remain an important religious to the situation in february before the corona crisis hits the crisis is still a part of us in a bizarre twist trump tried to connect the unemployment numbers to the ki

the u.s. vice president to spoken at the 1st public briefing of the white house coronavirus task force in the early 2 months mike pence says that while the overall infection rate is declining 16 states have seen spikes of late the us reported 40000 do infections on thursday the highest number of daily cases since the pandemic began i guess don's government is grounding all 262 pilots or reportedly cheated to get their licenses and inquiry found that they got other people to set their exams for them many of them had already been grounded on thursday and those are the headlines next up it's inside story. any one way but the message from the u.s. as it considers financial help the country's upgrading to find technology huawei says it's not controlled by bureaucrats why is washington so worried by one of china's most successful and innovative companies this is inside story. hello welcome to the program. the united states says it's willing to finance other countries 5 g. networks so long as y. way

this state of u.s. russian arms control negotiations today makes the cold war look congenial by comparison the intermediate range nuclear missile treaty or i.n.f. was signed by a us president ronald reagan and soviet leader mikhail gorbachev in 1987 it was considered a cornerstone of euro atlantic security it eliminated land based missiles and launchers with a range of 502-5500 kilometers those considered most likely to target europe if coming from russia but decades later in 2014 the obama administration produced evidence russia had violated the treaty with a longer range missile and last year the target ministration quit the deal we can no longer be restricted by the treaty while russia shamelessly violates nato allies agreed russia had breached its obligations but they worried abandoning the deal altogether would mean an unbridled build up on both sides it is very easy to start that we see the most of your honesty today but i still believe if you supports wall to reach agreements with her show or con

asian equities and u.s. stock futures pushed higher ahead of a week that includes a fed rate decision. oil climbs. and astrazeneca is said to have made a preliminary approach to gilead. a merger between the two would be the biggest deal ever in the sector. it has just gone see it -- 6:00 a.m. in london. nejra, welcome back. you went away and you unleashed the burn. i know you are excited. curvee never far from a steepener. bondthis momentum in the market be a repricing or is there a risk from jay powell to the bond market? a few bonds at 1%. the older you get, the more enticing 1% looks. good morning. bears were really on a tear. curve is the steepest in more than three years. it is good to be back. last week was a memorable week. was it really a turning point for risk assets? that is the question. how high will the hurdles be this week? the ecb went above and beyond last week. can we expect much from the fed this week? futures are positive in the u.s. european futures are looking a little negative. eighth d

>> the u.s./china film agreement, the revenue sharing provision, has that changed substantially since the phase one came into effect in january or are we still not getting what we're supposed to. >> first of all, the film agreement was not covered by phase one. it is an issue on which we're still negotiating. i realize that the industry has what we consider to be a bad deal. the film share is way, way below international standards and something on which we're negotiating. it is not covered by phase one. there are a number of things that aren't covered by phase one. >> okay, thank you. >> this is one of them. but it is something on which we're still having ongoing negotiations. my guess is the reason we called this phase one is because it is not phase everything. you could find things that you could complain about that are not in there. this would be in that group. >> so you admit -- >> would i have covered it. of course. it is something we negotiated on. we worked with the industry on at great le

and germany the plans of u.s. president trump to reduce the number of u.s. troops stationed here a move many see as an attempt by the president to punish the german chancellor. almost all of them were throwing the eggs bar in the small bavarian town of gas and everyone is welcome. many of the regulars here are u.s. soldiers from the nearby army base. here to lay out who has been standing behind this bar for 27 years taking care of soldiers when they're happy and they're angry and they're providing a person to those who come here this is more than just a bar and give sure it's more than just its owner. didn't meet them one for an ounce and they don't call me by my 1st name they just call me mom you know a lot of them say this is their home away from home sometimes they come here and they might be in low spirits so when i see that i try to talk to them about it is even i can't say they're like my own children but they come here so often it's like my family here right here. it's a bar named after gibson's late husband himself a g.i. is a fixture and often. it's

the u.s. stretch to their ninth day. his family visited the spot where he died more than a week ago. >> america needed to be listening when george floyd said i can't breathe, because when he could not breathe, none of us could breathe. >> protests have been taking place in solidarity. we show you pictures across the world from australia to kenya to canada. a warm welcome. we start with breaking news out of the united states in relation to the death of the unarmed black man george floyd. the minnesota attorney has increased charges against der chauvin,he officer involved in his death, while ling charges against the other three officers who were present. this is according to amy klobuchar. she calls it an important step for justice. george floyd [indiscernible] -- george floyd's sun visited a memorial. here is quincy mason visiting the spot where his father was arrested and died. >> trying to get justice for my father. no man or woman should be withoutheir father. we want justice for what is goi

u.s. markets. if you look at volumes from tuesday, they moderated to where we are now. solidntiment is not as given how far we have come up. seoul trading, singapore and malaysia as well. the peter navarro episode, if it is any indication how sensitive markets are to the slightest hint of bad news, that tells you the story of volatility in store for markets in the second half of the year. a quick check on the risk radar. aussie yen coming off a little bit, that tells you where we are in terms of risk appetite. we were closing in on 79 a few weeks ago. brent crude, some upside. let's get you up to speed with other top stories we are watching. it lawmakers in washington have approved a bill to penalize banks doing business with china over beijing's national security legislation for hong kong. the bipartisan measure in the senate has support in the house of representatives and needs to pass before reaching president trump. it condemns china for breaking obligations under the deal that return

the u.s. and afghan air campaign over the past few years has been weaken the taliban's presence and continues. and even after the deal with the united states was made the fighting hasn't stopped as the taliban has continued to attack afghan forces muscular at the end of the resident genki the dish be able to live on the edge of the spielberg of the spear when does it go in my eyes you get about a little bottom up at a low level slow but it is equally let me. go on the. brink of fire coming from my direction we're going to get out here enough. 3 weeks after the air strike the u.s. military said they had conducted an investigation and that there were no casualties . how did you feel when the u.s. military said there were no casualties. musses turned to news. and the only. other one of the 131 was what if i knew it was. going in the midst of a lot of hopelessness and he threw. them up on who she had on a woman. who had a name in there within the. bar lost his wife and 2 of his daughters his son w

in the u.s. the last chance for the public to bid farewell to george florida throngs of people are filing by the casket of the african american whose death in police custody sparked protests around the world we'll get the latest from houston texas also coming up tonight a tricky job begins in removing damaged scaffolding from. make a mistake and the whole thing might come tumbling down.

as china is opening its markets to u.s. companies the u.s. is moving in the opposite direction with a number of groups encouraging the trumpet ministration to ban chinese companies from entering the u.s. altogether so let's go deeper on this issue and bring. john quality dean of the dead and co-host of boom bust and investigative journalist ben so on john let's start with you a huge mover thing here and certainly a big win for american express is this just the beginning of china allowing u.s. companies more access to their markets. a big win for american express had all of the cod and. also have applications in bug well behind american express in the process american express has been locking on the door of china for 15 years to get those privileges very important it was really really emphasized as part and possible of the. trade deal with china earlier this year it's part of the process of opening up china financial markets to foreign and especially to american companies but one thing i want to stress is that china has developed very substant

i care about how the u.s. engages with the rest of the world i cover foreign policy national security this is very much a political impounds here's the paul how do we deal with grated are we telling a good story will people get what we're trying to get in here in their living outside and make it count this is not the way any family wants to raise their children we're willing to get into taking you into a place that you might not do that otherwise it's absolutely feels that you were there. welcome back you're watching news hour with the cell romney a reminder of our top stories the u.s. city of minneapolis is preparing to remember george floyd whose death while in police custody has sparked days of nationwide outrage people are also gathering for memorials across the country and thousands of people have joined a vigil in hong kong to mark the anniversary of the 1989 tannin square massacre that's despite a ban on mass gatherings in the city protesters had to break through barriers to hold a rally and libya's u.n

the u.s. try to put this stick don't work right but that didn't work out and now we have a new situation where china as well as russia are. the european union other countries like india like you who have the steeple and stronger economy whatever you think for example it's not just press you have a stronger economy so will the u.s. as a norm want to put this in more. new kind of salting. and so all there is of a laugh on the concrete level a little bit but it has a real background and the background is that in the moment the world as well as an economy crisis and so we should all all governments and all the people shout for peace and for frankly relationship we should really try to stress. on international regulations in a democratic way and not up playing polo games all bluffs on military. amount of money spent in the military. do you think anglo america will boost germany's military might and if so against what threat. she says she's on her way to do. just that in the last especially the new.

u.s. president donald trump he lights to pick a fight or to air his displeasures publicly especially with european allies nato and international organizations such as the united nations and the world health organization well over the weekend the u.s. president through the g. 7 into disarray trump invited german chancellor angela merkel to attend the g. 7 summit in the u.s. this month but merkel declined deciding worries over the coronavirus so trump canceled the june summit he postponed until september he called the g 7 outdated and he said it should be expanded to include australia south korea india and that russia should be brought back in the mirror putin's russia you may remember was thrown out of the group of leading industrialized nations after russia illegally and next crimea from ukraine back in 24 teed russia seems to have been blindsided by trump's announcement to journalists on board air force one a spokesman from moscow was unsure if this is a real suggestion trumps western all

you moved from the u.s. to germany 13 years ago as a black american is your experience of racism here in germany different from the u.s. and how well it is different in terms of i've been stopped before by the police asking me for papers and once i told them here in germany here in germany and when i told them i was an american citizen they left me alone so obviously that was a sign that other black people do experience that sort of you know racial profiling but of course in terms of the institution of racism itself you know people having trouble getting into the job market or you know housing those are things that can also affect someone like me so i do have situations where my american nationality protects me but the racism like the institute of racism itself is something that i also have to deal with here and i also speak in we can play the report just once i finish as i speak about every day racism in germany as well and i've been looking into that and that's something that can be seen in the report and

troopsse imagery of u.s. on u.s. streets clamping down on u.s. citizens, that might go some way towards that, if indeed we do get there. mark: i think it is a very emotional story, very upsetting story from a humanitarian side, but it is not yet that big of a market story. there is an extra risk premium, like we saw yesterday morning on the show, the fact that it is generally a very risk-on day but u.s. futures are the asset class that is lacking. the dollar is slightly weaker as well. it is feeding into markets, the margin, but it is not considered a global issue. it is considered a u.s. issue. it will slow the economic recovery and cause more problems. whether it becomes a much bigger risk event, i think, if martial law is actually declared, which nobody really sees as a viable possibility at the moment, it just seems so beyond what is expected in the u.s., and i do think there is a risk of innocent bystanders, if they start getting caught up in this at some point. i think there is a chance for this to escalate still, but at the moment, it is p

u.s. markets plummet to their lowest levels in 3 months on renewed concerns about a rise in corona virus cases as the country eases restrictions. hello there i'm the star of the attack and this is al jazeera live from doha also coming up spreading 2 fast coronavirus cases across africa double in a matter of weeks prompting a warning from the world health organization. as deaths from covert 19 continue to rise in mexico we meet the doctors in one intensive care unit trying to save lives . you cannot and will not stand by as people are threatened by care and report. and donald trump authorizes sanctions as the international criminal court investigates alleged war crimes by american troops in afghanistan. now stock markets in the united states have plummeted over fears of a resurgence in corona virus infections the federal reserve has also delivered a grim forecast for the country's economic outlook all 3 major u.s. stock indices were down at least 5 percent and their west a day since mid mar

in the u.s. as thugs and those who take part in riots in hong kong as heroes she also referenced a statement from the state department which criticize china for quote breaking its promises to the people of hong kong and to that she simply wrote the phrase i can't breathe. and rachel what about iran america's other arch nemesis how they responded well the u.s. has been known for praising any anti-government demonstrations that it sees in iran but in response to these protests are on foreign minister actually quoted a statement that was released by secretary of state my pompei 0 back in 2018 but the version he posted had a few changes to it now if we take a look at that statement he added it so that instead of claiming the people of iran are tired of the corruption injustice and incompetence from their leaders the statement targeted the u.s. government and cited the american people with the caption some don't think black lives matter to those of us who do it it's long overdue for the entire world t

u.s. officials estimate 20000000 americans have been infected with corona virus 10 times higher than the confirmed cases. as an upsurge in europe's infections cause it's a relaxed restrictions into question. alone convert al this is al jazeera live from tom also coming up. iraqi security forces raid a headquarters of an iran backed militia group. this bill hears the cry of those who would never been in. the u.s. also representatives passes a sweeping police reform bill sending it to the senate where it has no chance of being approved. and liverpool fans celebrate the club's 1st english league title win in 30 years. the u.s. centers for disease control believes the true number of americans infected since the pandemic began could be as high as 20000000 and that would be about 10 times higher than the 2300000 cases that have been confirmed officials have long known many have become infected without knowing some cases are being missed because of gaps in testing meanwhile the w.h.o. says that e

a u.s. police officer who fatally wounded a black man in atlanta last week has been charged with murder and assault garrett rolfe shot rae shot brooks in the back on friday during an incident at a fast food restaurant the officer was dismissed the next day and george brother is the u.n. human rights council to work for justice for black people in the united states in a rare urgent debate on racism and police brutality a group of 54 african nations called for action are diplomatic editor james bays reports from the u.n. in new york. this was a meeting that was only organized in the last few days we're here this afternoon to hold a not some debate on the current racially inspired human rights violations no mention of the u.s. or the protests following the killing of george floyd in minneapolis last month but that was the main focus more of the main speakers by video message was mr floyd's brother you were making a matinee says i your brother the 1st the people of america and you have the power

a u.s. navy veteran has arrived in switzerland after being released by iran michael white had been detained since 2018 president trump thanks hiran for his release on wednesday iranian scientists hero's us gary arrived home after being freed from a u.s. prison and it's been 3 years since and land and sea blockade was imposed on qatar by egypt's bahrain and its neighbors the united. one of the incidents that led up to the book 8 was the hacking of cantars news a news agency but despite recent efforts to deescalate tensions there is no end in sight to the worst political crisis the gulf region has seen and influential medical journal has retracted an article which says an on time an area drug increase the risk of death focal the 1000 patients 3 author has raised doubts over dates have provided by a health care firm which was used in the study published in the lancet the research from to the world health organization to suspend testing of hydroxy chloroquine those are the headlines on al-jazeer

outperforming the u.s. market that has been u.s. trade as of late up 1.1%. the trade taking place has been this reopening trade with investors taking money out of the growth stocks. those parts that benefitted initially in the post march rally and putting it into the stocks and the more cyclical market let's take a look at the regional break down now. we have italy reopening on the travel front the uk has seen a strong bid for sterling in the last several sessions a lot of focus on brexit relations between the uk and the eu a compromise could be on the horizon but not a lot of detail. ftse 100 up higher dax up 1.6%. strong day yesterday in the german marking ets there catching up with the broader europe the cac 40 up 1.6% in italy, that market up 1.6% as well let's kick off with renault. they've finalized a $5 billion credit facility. looking to shore up its finances the state will guarantee up to 90% of the loan. we are seeing strong bounce of shares up 8% let's get right out to charlotte. we've been talking a couple of weeks about what this could look like

we had u.s. stocks taking a breather on worries that the recent rally has gone a bit too far, too quickly. trading in new zealand, down for about a 10th of 1%. the kiwi dollar, weaker. 1.4% lowerwe have when it comes to sydney futures. declineng a 1% into the cash trading session. there are concerns that rally has gone too far. up about 27% so far. early seen as a proxy for risk appetite. we breakdownt, korea's latest numbers and the economic outlook, next. plus, the british chamber of commerce will be discussing prospects of the china free trade deal. >> welcome to "daybreak: asia." i'm shery and in new york. to there counting down markets. the top stories this summer. concerns the global rally has overshot economic realities. the nasdaq, slightly topping 10,000. in u.s. a strong rise crude inventories.

lost over the decade that's the u.s. congress is grim projection of the coronavirus impact on the country's economy and nationwide on rest could make the order of kicks through a recovery even told also after 2 months of lock down do not sit in government wants people back of work health experts say better stay at home and we'll show you a bavarian biotech firm that has everything it needs to fight deal coronavirus. well almost earth. welcome to the program the coronavirus pandemic could cost the u.s. economy almost $16.00 trillion dollars over the decade that's according to the congressional budget office business closures and soles of distancing measures are expected to curtail consumer spending the bi partisan body says andresen nationwide unrest may worsen the situation. james feron camp had hoped to be serving beers again this week after the long arduous lockdown in minneapolis but then came the violent protests looters and vandalism laid waste to his plans. hopefully the insurance covers it when we're already on. a

usually we expect the u.s. to do good coordinated trials and to pick drugs for their scientific merit. the world has had a little bit of a hard time when the u.s. testing things went in the wrong direction, when it hasn't been a federal notion of how you prioritize things, but i've said, the europeans are filling that vacuum and their generosity was good. people hope the u.s. is back, but withdrawing from the is a step in the direction. and the progress we've made it done through who and you know, a substantial part of the u.s. money is -- that goes there is for the polio eradication. so, you know, there's a still a chance for the u.s. to contribute on this and, you know, not just thinking of itself, but also in the same way we did, and particularly president bush and pepfar did, prepping out the world. >> you've both been really vocal on the need to make this a global response and help people outside of or borders. if you were talking to, in this audience of small business person in the middle of the country s

behind the scenes of u.s. japanese military relations in the end is less easy going then here american military units stationed has still made trying to aid missions with the japanese earthquake for example but since washington has demanded much more money from japan for u.s. troops tensions have risen considerably it is actually cheaper to have a marine stationed in japan than to have them in san diego so if we pay. then they will become sort of mercenary and i don't think you are supposed to would like to do that. posh words especially coming from an otherwise normal japan is a possible future government leader seeking to expand his influence in a big way insiders say there is support for this in the ruling party but less so amongst the japanese people. for more talent joined by ron mason he's a japanese foreign policy expert at the university of east anglia in the u.k. thanks for joining us dr mason do you think the japanese defense minister aims to formally develop a national military force and if so why.

there's the u.s. in red there, higher and trending way higher than europe, canada, japan, other developed countries and i also want to show at the same time the deaths per i believe 100,000 people. so that's per million residents rather. why is this, and when the president and the vice president say well, this is really just about more testing or, well, it's all fine or better than it looks, because the death rate is lower, is that true? >> no. first of all, it's not about testing. one point that is being missed in all of this, we're doing a lot of testing but we are the 26th highest country in terms of testing in the world. there are 25 other countries the per million population are testing more than we. . it's not just about testing alone. the fact of the matter we're seeing a higher rate of positives among those who test positive. we are doing a lot of testing but that's because we have a lot of cases. i think the second thing is the data are going to show clearly over the course of the next severa

is the u.s. already a ball with china yes on the ground and in the air the winner of the nobel peace prize president barack obama has committed to trillions of dollars of to our nuclear arsenal he's committing trillions of future dollars to war in space and we need an enemy for all this money and china is the perfect enemy. the aim of this film is to break and silence the united states and china may well be on a path that will a nuclear war is no longer unthinkable in a few years china has become the world's 2nd biggest economic power the united states is the world's biggest military power with bases and ships covering every continent and. china is a threat to this dominance says washington who is the threat this film is about shifting and great danger but it's also a film about the human spirit and the rise of an extraordinary resistance among people on the frontline of a coming war where the words never again have an urgent meaning for all of us. this is bikini the room of an agent underwater v

as the u.s. dollar extends gains following the best session in april. checking that chart on the terminal, it is out of oversold territory and looking to test the 200 day line as strategists debate if there will be a larger structural downturn. expects thehe dollar's core fundamentals will drive weakness. sharing. they: for a look at where dollar is headed as well as other currencies, let's bring in eric nelson, the currency strategist at wells fargo securities. great to have you with us. that's start with the dollar. we have seeing this huge correlation between the dollar and u.s. stocks. gtv chart on the bloomberg shows it. not surprisingly, as we had u.s. stocks selling off today, we saw a strengthening of the u.s. dollar, rising the most since april. i do wonder how long this could last because as sophie just mentioned, it seems we are looking at some larger structural downtrend here. we ares talk about where today versus where we were three months ago. the bank in early march -- a situation

for the u.s. economy. yvonne: let's bring in our next guest for some insight, taimur baig, managing director and head of research at dbs investments. we heard from chair powell saying the economy may have reached a bottom. you pair that with the retail sales number overnight, and it seems like things are bouncing back in a big way. s this mass divers encz in -- divergence in the economy finally convergent, would you say? taimur: we are not converging. the financial markets are not only pricing in little risk from amid our better knowledge of social distancing, that it would not be devastating, but markets are not pricing in a lasting impact from the crash in commodity, that companies will remain in business because of ample liquidity and low rates. those are rather heroic assumptions. to me, the risk is a symmetric. we are pricing in lots of good stuff and discounting every possible bad stuff. from a risk reward perspective, i would be very cautious. yvonne: what would that mean for treasuries? tw

the u.s. shuts the door on new foreign workers now some of america's biggest companies are complaining that a presidential order to pereira lee suspending new employment visas will cost them top talent. also on the show times were already tough for small businesses in argentina the pandemic has made them unbearable. this is your business report i'm stephen beers in berlin it's good to have you with us apple google and tesla are among american firms criticizing a new order by president donald trump which blocks entry of many new foreign workers through years and amazon called the decision to suspend employment visas short sided and the threat to american global competitiveness c e o's of google and apple both said they were disappointed trump claims the order which could block hundreds of thousands of workers will increase u.s. employment but it follows broader efforts by his administration to crack down on all immigration. and for more on this let's go to our financial correspondent yens quart

meanwhile people in the western u.s. have been dealing with temperatures reaching into the 40s in phoenix and las vegas on tuesday, even portland a high of 33 degrees on tuesday which is 10 degrees warmer than usual. muggy conditions are also expected in the eastern -- northeastern u.s. i should say. highs for new york and washington, d.c. will exceed 30 degrees. that's all for now. have a nice day. stay safe. ♪ >>> all right. that is nhk "newsline" for this hour. thank you for staying with us on nhk world japan. xxx ♪ >> welcome t to "newsline in depth." i i'm aiko doden. today we focus on the closing dadays of world w ii. even after japan surrendered, fighting continued in okinawa fa to the south as japanese forces resisted the u.s. milita advance. the battle of okinawa was the bloodiest fighting on japanese soil. in all, over 200,000 people died, most of them civilians. one-quarter of the local population perished. it c came to a an e end on sept 7th, 1945, when the japananese forces in okinawa signed a document o

and the u.s. hopes for a quick reopening are being beaten back by surging corona virus infections 2500000 cases have been recorded there so far and a total of 125000 lives have been lost both florida and arizona have set new daily infection highs forcing vice president mike pence to cancel campaign events there across the country record figures of cases have been confirmed every day for almost a week several states are taking steps to reimpose restrictions threatening a much hoped for economic recovery bill elizondo is following the story from new york and he says it's the states that push to reopen 1st that and now you see a spike in cases. anyways the coronavirus outbreak in the united states is worse now than it was back in march april or even may 1 of the covered $1000.00 pandemic was in the northeast of the united states where i'm at right now in new york new jersey. now you're seeing it spread elsewhere florida texas nevada arizona these are the new epicenters that we're seeing and really tr

and the u.s. accounts for 20 percent of new global cases around the world now the big difference between this list where it lists the cases around the world is another list which is new cases that are coming around the world now the only difference between here and i'm going to have them print the new list up here right now which is going to give you a comparison of the top cases versus u.s. cases coming up going to them do that right now see if you could compare if not will go to back to it later but the difference between those 2. is that the u.k. is on this list with the number of cases blood with new cases coming out of that country they're no longer there instead chile has joined the list with new cases and right here there you go so u.k. is no longer on the list instead we have a chilly day in the u.s. still has the most cases it was brazil but overnight us went up on the list followed by india russia and chile and brand 5 states in the u.s. have actually also reached a new milestone here in

u.s. prisons. jim. >> matthew, thank you very much for that report. >>> so a setback for press freedom. journalist maria reza, known for her coverage of president due ter tay, has been convicted in that country of cyber libel after years of government threats. reza who created the online news outlet wrapler, was charged for an article the site published in 2012. they could face between six months and six years in prison for a case that has been widely condemned as politically motivated. reza who used to be a cnn bureau chief spoke with cnn last night after posting bail. >> we swat it away and keep our eye on the ball. it makes me wonder and worry what is the government afraid of? why are they afraid of journalists? why must they always make me feel their power? i think i'm a nice person. i ask very respectfully. our reporters are very respectful, but they just don't like the questions. >> she's a former "time" magazine person of the year. she has posted bail 8 times on a litany of charges

u.s. futures, the biggest since 2016, we saw a lot of green on the screen fueled by stimulus from the fed on corporate bonds, but also in terms of fiscal stimulus. today is a different picture. the second wave has become front and center a little bit more again. investors try to see where to go next. in terms of the equity rally, a mixed picture in asia. the msci asia pacific index is flat. u.s. futures edging into the red along with european futures. the 10 year yield missing a couple of basis points. fx, you are not seeing a lot of moves either way for the dollar. g10, you are seeing underperformance of commodity currencies, also seeing a pullback in oil, retreating with the outbreak in china perhaps threatening the one bright demand spot there was globally. fed chairman jerome powell is giving a caution assessment of the u.s. recovery. he says near-term improvements in employment are unlikely to return the labor market to his level before the pandemic. >> there are parts of the economy

for travelers. >>> as the u.s. faces two crises, one on health and one on race, president trump signs on executive order, protecting statues that many conservatives cherish. i'm natalie allen. "cnn newsroom" begins right now. >>> we begin with this. the united states has reached a milesto milestone. the death toll since february, now 125,000 and climbing. all adds up to remarkable progress, according to mike pence. the leader of the coronavirus task force, greeted reporters on friday with a string of makebelieve accomplishments. >> as we stand here today, all five territories across this country are opening up safely and responsibly. >> that's simply not true. the virus is gaining ground in six states. 11 governors are putting the brakes on reopening any further er. two have sounded a retreat. the vice president seemed oblivious. >> the truth is, we slowed the spread. we flattened the curve. >> the u.s. never flattened the curve. it was bumpy during the lockdowns, but now, it's roaring back. leave it to dr. fauci t

a u.s. base video conference firm zoom has admitted suspending the accounts of rights activists at the request of the chinese government is the initially said it was following local laws when it temporarily blocked former student leaders involved in arranging events for the anniversary of the 10 men square massacre in beijing the account of a hong kong politician was also suspended meanwhile twitter says it's removed more than 170000 accounts tied to a chinese state backed misinformation campaign the network focus heavily on hong kong but also plays china's response to the pandemic many of the accounts were set up in late january then became more active as the outbreak spread beyond china. now protesters are starting to gather in hong kong as a controversial national anthem raul comes into effect and legislation makes it a criminal offense to mock trial as anthem activists say it violates their freedom of expression and they see it as another sign that beijing is doing away with hong kong's

the u.s. there are still going to be clusters of problems in europe, but i think they will be managed on a more regional basis, therefore, the process of reopening can proceed. the macro is looking better. there are some really important policy steps forward with regards to how preemptive the ecb is these days, as well as the e.u. recovery fund, a good step forward in integration. the macro looks good, but when you transmit that the stocks, you have to remember there are key differences between the u.s. market and the european market, which has accounted for a loss of european underperformance. there is a high rating in financials. for that outperformance to be sustained, you really have to see that global, synchronized recovery is coming through, and we are getting our interest rates to outperform. guy: ok. let's distill that down. if you have first money to put to work right now, would you put it in the united states or europe? inen: i think i would put it -- the problem is with that choice

see a hold over one trillion dollars in u.s. debt so the u.s. really can do without trade with china than china can do without trade with the u.s. so it's one thing for the united states to put sanctions on a country and some of its beds for example i think that's what happened with russia for example but when they knock you off with that's a much more difficult blow right they explain what happens when you get knocked off us with what happens to a country what can it not do. but it essentially means a new cancer you are cut off from the entire global monetary network it means you have no access to liquidity you have no access to the dollars or you can't send international payment supplements and or any pay for anything that are currently settled in u.s. dollars. most of the global international trade currently is denominated in u.s. dollars that includes oil that includes agricultural goods that includes basic supply should necessity materials energy all of the above all of that is currently denominated us us that would be a very severe blow i

china 2015 but have overtaken the u.s. so amazing. modern china is full of telling irony is not really use this museum that was once the house where mounties com roads secretly found of the communist party of china in 1921. today it stands in the heart of an exclusive fairy capitalist shopping district. when you leave the shrine to china's great revolution you are confronted by a surreal spectacle for right outside where the chinese communist party it was bone of the very symbols of capitalism stocks apple caught here. and down there perhaps the free market the greatest triumph bottled water but in shoals you lived beyond costing 6 pounds for a small bottle in my hotel. spin and i was too if he was here i'm not so sure hidden history is always a key to the truth 5 years before his great communist revolution in 149 mts sent this secret message to washington china must industrialize wrote. this can only be done by free enterprise chinese and american interests fit together economically and politically america need not fear that we will

u.s. futures are fairly flat this hour. futures on the s&p entirely flat, on the dow entirely flat, the nasdaq or positive, up 0.2%. yesterday we saw concerns around the second wave of the virus or the third wave, perhaps, in the u.s., the south and southwest of the united states, taking the edge off gains in the s&p, but the nasdaq is powering through to new record highs. let's show you what's been going on through the asian session. things looking pretty mixed. some markets doing better than others. we saw the kospi making canes, still up by 1%, on further developments geopolitically on the korean peninsula. things looking a little more negative this hour than they did just half an hour ago. the msci asia pacific fairly flat overnight, off some strong gains for tech stocks in the u.s. yesterday. we will get to that story later. let's get bloomberg's first word news update for you. the pandemic spread in the u.s. is leading some state officials to consider slowing or even reversing plans