it ranked first after shanghai and beijing. in mid-february, the end of the chinese new year, the city is crowded with people. for a temp company dispatching laip laborers to factories, this is the busiest time of theborer the busiest time of the year. with improving standards of living, securing factory workers in china has become difficult. every year fewer people apply for the jobs. the start of chinese new year is especially challenging because many workers quits during the season. to make up to this loss, this company recruits people from rural villages all over china. more than 10,000 laborers are registered at the temp agency. for a week after the end of chinese new year, large busses are chartered several times aal. the agency goes to great length to transport workers from remote villages. factory workers who are once the backbone of the chinese economy were usually young men from rural areas who couldn't find jobs elsewhere. they were called farm mechanics, despite the long hours and low wages, many rural youths inspir

you're from shanghai? >> yeah. i was born and raised in shanghai. >> at least in modern times, it's hard to imagine that any place has changed as profoundly and is changing as quickly as it is changing here. >> we really feel proud. we really feel proud. our qualities of life is improving really, really fast. >> in a poll, 85% of chinese who were asked the question, do you feel that your life will be better next year, 85% said yes. it will be better next year. that's an extraordinary -- >> number. >> -- number. i don't know a lot of other countries that would say that. >> yeah. >> that looks great. famous chicken. >> chicken. >> mm. so good. >> not bad. >> you know, i'm finding this food really, really delicious. you're saying it's just so-so? >> it's okay. so-so. >> wow. kevin kevin kevin kevin kevin kevin kevin kevin trusted advice for life. kevin, how's your mom? life well planned. see what a raymond james financial advisor can do for you. various: (shouting) heigh! ho! ( ♪ ) it's off to work we go! woman: on

that's about half the annual salary for an office employee in shanghai. this is the most expensive accommodation plan, the riverside suite. it costs about $33,000 for a month. the rise in older mothers means that the uib generally requires a reservation about four months or more in advance. wang had her second child at age 40. after the announcement that the one-child policy would end, she and her friends were reluctant to discuss having >> translator: the policy changed but we didn't really talk about it. instead of just being open about it and asking directly, a lot of friends my age would subtly probe each other to see if they were having a second child. i'm the first in our group and it helps us all to be frank with each other. it wasn't really brought up before, but now we are all talking openly about whether we do or don't want a baby at our age. >> china's one-child policy began in 1979 and lasted 37 years. the purpose was to prevent sudden population growth. minority groups and farmers who needed children to work on the farm were exceptions. most

looking ahead to the open in shanghai and hong kong. the shanghai composite and trading sentiment today in a share, will it deepen the drop we have seen over the past three days? it is hovering above the low from the last two months. the key psychological level of 3200 getting preached on tuesday and negative momentum picking up. in the mainland waiver, we are seeing eight knock on effect on the hang seng index. and the most in four months, tracking it below 24,000. rishaad: right, a resounding no again to tpp. mike pence's visit continues. the u.s. vice president is pressing allies in asia for better traded terms while reaffirming washington's military support. mike pence in tokyo stressing the need for quick results and a new economic dialogue. he told business leaders in korea that america's trading relationship with south korea is falling short. an arrest in london, and will face a court hearing for extradition to india. he surrendered his indian released on was a rees bail. accused of willfully defaulting on $1.4 billion of. the im

joined by the shanghai composite also. u.s. stocks providing impetus ever -- after having gained the most in six weeks. in the next hour we will assess the impact of property curbs on chinese home prices. ♪ ♪ announcer: from our studios in new york city, this is "charlie rose." charlie: siddhartha mukherjee is here. he is an assistant professor of medicine at columbia and a cancer physician and researcher. he is also a very good writer, a pulitzer prize-winning author. his latest book comes out in paperback this month. he writes about the future of automated medicine in a new piece for "new yorker" magazine. it is called "the algorithm will see you now." i'm pleased to have him back at this table. welcome. siddhartha: thank you. charlie: with some sense of paternity, tell me how this piece came about. siddhartha:

shanghai in the wet can be a fearsome sight. battle lines drawn, lewis hamilton and sebastian vettel, little between them. hamilton's mercedes started in front, and all he had to do was stay there. whilst the track was drying, there was for a time confusion and chaos reigning. staying on the track was proving a little too difficult for some. the early la ps little too difficult for some. the early laps were stifled by accidents, a split —— a pit stop leading sebastian vettel down the field. lewis hamilton kept his calm and kept trouble behind him. max verstappen, having started in 16, now up to second, but sebastian vettel‘s ferrari was slowly fighting its way back. he would eventually regain his second place, but that was as close as he could get to hamilton, who led from start to finish. the pair are, hamilton, who led from start to finish. the pairare, now hamilton, who led from start to finish. the pair are, now level on points, and in the wet shanghai, this duel continues. wasps moved clear at the top of by wasps move

we get more from our shanghai corresponded. the shanghai and stock market and the shenzhen stock exchange are opening in about one hour. everybody will be watching how they will react to what happened yesterday. —— correspondent. yes. ithink happened yesterday. —— correspondent. yes. i think one of the most interesting statistics after yesterday‘s events was that the last time we saw a fall like this in 2015, it was followed by 820% fall over the next six days. that came two years ago in that summer that came two years ago in that summer of horror. we had to substantial falls in the chinese stock markets and $5 trillion was wiped off the value of shares in this country. and the economic incompetence, really, of the regulators, here, and the political leadership here was exposed. in the next hour, we will see whether the trend is likely to continue from yesterday, and then the test will be the extent to which this regulatory bite is willing to tolerate falls in the market, or if there is a limit for china‘s newly emb

the shanghai composite, also flat. we are seeing some good gains supported on the japanese equity market. hong kong opening as well. as heidi mentioned, we did not get any firm details coming through but we are seeing that buying momentum. let's look at some of the movers. there is a fair bit of corporate news around today. the best gainer, up 9.5%. this deal has been approved by the government. it still needs shareholder approval. we are seeing shares up 9.5%. also, very much under pressure. technical showing it was in over scored -- oversold territory. buying comingive through from travel related stocks. atwe switch it out and look the losers, toshiba shares under quite a lot of pressure. down 5%. there was a story saying some stakeholders are seeking ¥18.3 seekingworth of -- ¥18.3 billion from toshiba following the accounting scandal. also under pressure in sydney. down 10%. seeing flat sales growth. you.ad: thank a quick check on some of the first word headlines. sayinglas fed president things are on track for tw

this was after the shanghai hong kong stock connect her program. which has been, so far, operating fairly successfully. and also, we tried to promote shanghai pilot loans for free as experiment in other places. and the most important thing for this pilot program of the free trade zone experiment is to try pre-plement the establishment national treatment. and the negative approach in an operational way. favorite accepted that the preestablished national treatment and a nationalist approach and principle but how to make it from a principle into an operational procedure is a lot of work. and shanghai pilot free trade ofe experiment did a lot their he good work on that. so, at the beginning of this year, china's state council issued a new guidance for and to try tog up attract foreign investments. in china. concluding, i conclude today,e speech i made that is an indication of the determination of the chinese government to further open up the financial sector. the financial cooperation between china and the united states is extremely important. and i be

advance,a two day shares in hong kong lower 5.5%, shares in shanghai lower by .1%. we are waiting for china caixin pmi. we will see how that feeds into market reaction. taking a look at how that is playing out when it comes to sector breakdowns on the shanghai composite, only real estate and materials stocks on the up-to-date. just a note, we do have several governments around the new economic zone to be developed, seeing they will be putting into place property tightening measures to ensure speculation is not too rife and otherwise, banks and consumers staples leading the drop in shanghai. take a look at some stocks and focus. let's look at tencent shares trading today. wells fargo ind terms of market value to become -- part of the top 10 biggest companies in the world. we do have that trading lower by .8% today. china unicom resuming trade, up .4%. it could see a change to its shareholding structure in response to the government nudging is so easy to draw in more capital. ejiang expressway falling over 5% today. ahead of its post-earnings briefing at 11:00 a.m. to

shanghai, 1%. japan eking out a small gain. a look at european trade. big move in the pound higher yesterday. that saw the ftse 100 move lower to the tune of 2.5%. it's taken today with a fraction more of a decline. the ftse 100 into negotiate sieve territory for the year. the rest of europe was soft. france as well down 1.7%. of course as we near the french election, there's been weakness there. the latest polls have macron, the center-left candidate at 24%. he will pen, the far-right candidate at 23%. let's look at the broader markets. >> oil prices under pressure yesterday. they're firming up this morning unchanged. wti crude 52.43. brent sits below $54 a barrel. even nat gas is just positive this morning. as for the u.s. dollar, a weak dollar day across the board yesterday. the dollar following yields lower, but popping back this morning against the japanese yen. so definitely the tape has a better sentiment. 1.0885 is the dollar rising against the yen. the dollar is also stronger against the euro. the pound was the real mover of the day yesterday,

robert brunt is at the shanghai auto show for us. what are some of the latest models you are seeing there? everybody is here. this is the biggest car show in the biggest car market in the world. all the manufacturers are here shown what they have. this is notjust about what you can drive away today, but what you can drive away today, but what you can drive away tomorrow. that includes autonomous vehicles and electric vehicles. china wants to become the leader in the electorate. that is the technology behind the cars, the batteries, but also getting people to buy and drive them. because it sees it as one way of dealing with the huge pollution problem in the country. so i will be looking at the strategies for some of the car makers when it comes to electric, and that includes the largest carmaker in the world, vw. translation: we will continue to develop combustion engines in the next two years. nobody knows and we will see the tipping point between electric engines and combustion engines. i think we will have them for the next 20 year

beaten on the clay by france. 0n the shanghai tarmac, hamilton sta rts 0n the shanghai tarmac, hamilton starts on paul. —— pole. the grand national at aintree was won by the 14—1 shot one for arthur. ridden by derek fox and trained by lucinda russell. all 40 all a0 horses came back unharmed. what today we have had at aintree. it was a grand national all about anniversaries. a0 years since red rum completed his remarkable hat—trick. who would be the latest tojoin diligence? hat—trick. who would be the latest to join diligence? it hat—trick. who would be the latest tojoin diligence? it was hat—trick. who would be the latest to join diligence? it was a victory for scotland in the end, the first scottish trained winner since 1979. victory for one for arthur. 70,000 fans arrived to sunshine and that annual dilemma, predicting the winner of one of sport's was unpredictable events. in the end, blaklion set of the favourite although setting off took some time. two false starts before third time lucky. the a0 runners headed off around the famous fences. inevitably there were footba

our shanghai. -- greg turk joins us now our shanghai bureau chief greg turk joins us now. this is a strong liquor, isn't it? >> it packs a punch. after one bad experience, i no longer touch the stuff. they seem to have found new avenues for growth after three years of slow sales growth as they saw their key market of , high margin premium liquor dry up amid a corruption campaign that started with the ascension of xi jinping to power in 2012. the height of the corruption campaign in 2013-2014 as well. they have found other ways to generate sales, looking more towards wealthier chinese dom in theficial private sector, and the middle class, so things appear to be looking up for them. absolutely.: we have a chart that shows they surpassed diageo to become the world's biggest newsmaker. how much more upside for investors? even more thant a year, investors have been favoring these vice stocks, and that includes liquor makers, casinos. many of these have risen. another liquor maker like kweichow moutai rose almost 60%. kweichow moutai has risen more than 60% over the past year, s

shanghai composite index was down three quarters of 1%. cost became top of 1%. >> before good friday, cap futures lower by 23, nasdaq futures lower by five. checking in on key commodities. oil 52.751043 cents as gold gains for bucks. 12.92 a troy ounce. >> remembers when no longer feel antipathy for civilian passengers on over booked flights. under the new policy, they have up a 60 minutes before departure. the change comes as the airline faces massive criticism and a large drop in market share after the video of a bloodied man being dragged off of united flight cause significant backlash. investors could is "after the bell" today. and analysts will be listed on the conference call for how the ceo oscar munoz plans to frame the crisis to the investors. we'll also hear from netflix after the close of trading kicking off earnings season. video streaming giant is to push sharply higher earning shared from a year ago when improved revenue. you can see a great one-year chart there as well. earnings season this week after we heard from jpmorgan

shanghai flat. as for the early action in europe, mostly positive, especially in france which we're watching closely ahead of the first round voting on sunday. the cac is leading the charge, up 1%. the ftse 100 in the uk underperforms again on the back of a stronger pound. very interesting to see after the prime minister theresa may surprisingly called that snap election. strong pound hurting the exporters particularly, and the ftse 100, mostly a better tone across asia and europe. >> deutsche bank saying potentially the strength in the uk may lead the bank of england to raise interest rates instead of cut them. let's lock at where the broader markets are now. we mentioned oil. 3.8% drop yesterday. finding a firmer footing this morning on word that saudi arabia is interested in reaching a deal for new production cuts. but as always, we'll see if action follows that talk. the ten-year note has been in focus. we have seen yields on the ten-year fall 10% so far this year. currently sitting at 2.22. the

or are you seeing support coming soon for shanghai? >> the fundamental factors are supporting the market, but looking at the technicals, you are seeing support for the 3100 level on the shanghai composite. csi 300.he these are the key levels at this moment. rishaad: nice one. joining us from ig asia from singapore. reporting a drop in first-quarter profit could we would look at the market -- stock in the premarket next. ♪ haidi: this is "bloomberg markets: asia." i am haidi lun in sydney. rishaad: i am rishaad salamat in hong kong. we count you down to the start of the trading guide here, shenzhen, and shanghai. premarket pretty much flat, not a lot of conviction. the futures contracts suggesting, diversions, but we can expect the index to, well, flip between gains and losses. a story about the banks as well when it comes to china particularly, bank reporting season. that is what we have at the moment, on the way down to china construction bank down .3%, net income 10.2 billion dollars, the country's second-biggest bank, a big increa

tom mackenzie joins us now live in shanghai. this is juste know another project by the chinese government to boost their numbers, spend their money, create jobs? is there really demand here? tom: that is a key question. whenmbition becomes clear used stand here like we are now. the beating heart of the shanghai a economy behind us. an area itself which was farmland up until the early 1990's. this is what the government wants it to emulate. the likes of shenzhen. the key question is are they going to be able to make it happen? the language from the government is quite ambitious around this. they say they want it to be a crucial strategy for a millennium to calm. we saw some of the economic impact on this immediately after the announcement. a terminal shows some of the stocks, the businesses and companies that saw a spike in their share price immediately after this announcement. some of them going over their 10% limit. the analyst expect this project, because it has the backing of the president, will the demand for construction ma

. >> the auto world is in shanghai. a rule on foreigners. we hear from a volkswagen, bmw, and daimler. we have world coverage on daybreak asia. we are live across asia and the u.s. to look at the u.k.'s snap election in the latest growth report. betty: and here in new york to break down the latest on the banking. tech earnings in year. this is daybreak asia live from a bloomberg's asian and u.s. headquarters. i am betty liu in new york, it is after 7:00 p.m. yvonne: it is after 7:00 a.m. here in hong kong, i am yvonne man. -- imf raising their forecast, it is a different tone. betty: markets are actually down. was micro-news, so to speak that dragged stocks lower. that focused on the banking sector. in particular, goldman sachs leading financials lower. we will dig into that in a few moments. yvonne: a surprising miss. again, that snap election we are preparing for in the u.k. on june 8. we will see if the pound can continue to rally, holding at 128 against the dollar. new zealand trading so far, seeing pressure in stocks. wall street down 4

this is the dividend payoff from the shanghai composite. this is in the yellow line and you are seeing the stock exchange growth index in the blue line. even though some of these dividend payouts are small they are outperforming the overall market. and outperforming payments from europe and the u.s. some analysts saying watch this space. matt: differently when people should check out. north korea has conducted yet another ballistic missile test. that comes days after president unilaterallyo address the threat if china will not and he comes a day before president trump and the chinese president are getting their first meeting on thursday. ourbring -- let's bring in news editor. how does this action from north korea impact the talks that we are expecting to watch today? >> north korea was already expected to feature high on the agenda and this focuses the attention on that. trump has vowed to act if china does not do anything as he said. some sortooking for of deal. how that fits into the broader talks remains an open question. what trump and

and china's shanghai composite losing .8%. trade t-shirts of netflix to open a record high after its latest earnings report. we will have details. lauren: we will hear from to buy big tanks are goldman sachs and bank of america due to report their latest quarterly results. nicole: the playoff for the basketball and hockey fans trip abroad james leads the cleveland cavaliers to victory and hockey the toronto maple leafs done the washington capitals in overtime. we will have all the highlights for you. lauren: 5:31 a.m. in new york. tuesday, april 18th, tax day. welcome to "fbn:am," your first look at morning markets and breaking news. we hope you got your tax return and are filing today. train to ensure you have until midnight. plenty of time. vice president ipad fisher in japan the u.s. will work closely with its allies to deal with north korea. the vice president had a meeting with japan's prime minister shortly after arriving in tokyo from seoul earlier today. >> while all options are on the table, president trump did determ

i'm phil lebeau in shanghai. that story coming up on "nightly busine" >>> malaysia airlines is the first carrier to sign up for a new satellite-based flight tracking system. the satellite network will allow the airline to track its planes in areas where it currently cannot be monitored, like polar regions and remote areas over the ocean. the move comes three years after one of its flights bound for beijing disappeared. >>> china's auto market, long a driving force for the entire industry, finds itself at a crossroads. after years of very strong growth, overall sales are slowing. automakers around the world are now facing stiffer competition to drive profits in a market that's been very lucrative. phil lebeau reports tonight from the shanghai auto show. >> reporter: edgy, youthful, and full of energy. automakers in china are hoping more suvs and crossovers strike a chord in a market where sales have cooled off. >> double digit declines in february and january, total decline 19%. we did see some indication in march

it was a stop—start race in shanghai as wet conditions played their part. race in shanghai as wet but hamilton's mercedes led from the start to take the chequered flag. from the start to take ferrari's sebastian vettel was second, with max verstappen third, despite starting in 16th place. the prince of wales, president hollande and the canadian prime ministerjustin trudeau all gathered in northern france today to mark one of the bloodiest battles of the first world war. more than 3,500 canadian troops died in four days of fighting at the battle of vimy ridge. duncan kennedy is at the site now. battle of vimy ridge. vimy battle of vimy ridge. ridge is a place of loss and remembrance. vimy ridge is a place of loss and remembrance. the canadians fought, died, and eventually took the hill behind me. and in nearby arras, where thousands of scottish troops we re where thousands of scottish troops were also roman but, major acts of commemoration of the first world war —— were also remembered. it was the battle that defined a nation, in a conflict whose horrors defied belief. a nation, in

the shanghai,, completely diverting from the blueline, the msci. what we are seeing is this continued slump. the worst weekly decline in four months last week. yesterday, the worst intraday decline when it comes to the shanghai comp. is a lot of fear that we are going to see continued tightening when it comes to liquidity conditions as a result of the clampdown on limited -- leverage and wealth management products. we are 30 minute delay from the open in china and hong kong. another downtown -- down day. singapore, thailand, and malaysia coming online. reporter: asian markets looking very much firmer after the rally on monday sparked the french vote. chinese stocks will be in focused at the bottom of the hour. we have a shift in investor focus to corporate earnings. we have a bunch of reports due out from tokyo, for example. we have other potential market moving events among them. one a look at what's going in this space. the risk positive move could be tempered from provocation from north korea.japanese stocks very much on the up , edging towards

also coming up — electric cars are dominating the shanghai auto show. we are going to plug in for the latest from our correspondent there. but first, we start in france, where the shootings in paris have interrupted final campaigning in what was already being called the most unpredictable presidential election in living memory. centrist favourite emmanuel macron and far—right marine le pen look likely to go through after sunday's vote to a run—off on may 7. but they are closely followed by conservative francois fillon and far—left candidate jean—luc melenchon, who can't be ruled out. socialist benoit hamon, though, is being given little chance of making the next round. security is, of course, right back at the top of the agenda. but there are other huge issues for financial markets — number one is the fate of the euro currency. le pen wants to abandon it and bring back the franc. melenchon has also threatened to pull out, but he's softened that stance recently, now saying it should be reformed, and the independence of the european central bank

take a look at the shanghai composite index up a quarter of 1%. lauren: earnings from twitter this morning a subscriber growth continues to stall. we will play what to expect. nicole: uber announces plans for flying cars in three years. we will take a look. >> despite its star by russell respa are eliminated by the houston rockets. dale earnhardt junior announces he will retire from racing this year. nicole: 5:31 a.m. in new york. we welcome you to "fbn:am," your first look at morning markets and breaking news. lauren: president trump will reveal is the border cap heats up as congress tries to work out a deal to fund the government. connell mcshane on the budget negotiations. first adam shapiro has the details on terms big tax announcement. >> good morning. today that billions of americans have awaited the president trump will outline the broad principles to lead to the legislation of tax reform. the business taxes to a corporate rate of about 15%. that would be much lower than the rate for corporations and businesses pay now but there is concern

a look at the shanghai composite in china higher by 16 to 1%. lea: united continental airlines under fire after using force or another passenger from their state. the story everybody is talking about the systolic reaction. lea: activist investor pushing pulses to get the upscale grocery chain up for sale. chicago cubs always the world series championship i wrigley field in the miami heat to beat the cleveland cavaliers and keep their playoff hopes alive. lea: 5:31 a.m. in new york here. welcome to "fbn:am," your first look at morning markets and breaking news. we do have breaking news this morning. secretary of state rex tillerson scheduled to arrive in moscow this morning after 10 g-7 ministers meeting in italy. pacific comes as the white house issues more warning against the syrian government. >> nadja syria that the world saw last week a president that black decisively and proportionately and with justification when it comes to actions like that. i will tell you, the answer is if you cast a baby, if you put a barrel bomb into innocent people,

in china the shanghai composite up fractionally. lauren: investors focused on bank earnings. jpmorgan chase, wells fargo, citigroup among others. lea: orders for the galaxy and have been strong. the exploding phone fiasco in the rearview mirror. lauren: boston celtics beat the milwaukee bucks are in the top seed in the nba playoffs in the hockey playoffs the new york rangers in their first playoff game. train 25:01 a.m. in new york. thursday, april 13th. welcome to "fbn:am," your first look at morning markets and breaking news. lauren: almost friday. raking us this morning. president trump offering better trade terms for north korea. in an interview, and this is what the president said. that's worth having deficit and that's worth having not as good a trade deal as i would normally be able to make. in the same interview, the president said he will not label china a currency manipulator, but he said the u.s. dollar is getting too strong. on those comments, the dollar dropped sharply. trump said he would prefer the federal reserve to keep interest rates low. lea: satellite imag

shanghai and hong kong particularly strong. they were closed the last couple of days for international holiday. shanghai up 1.5%. we got some fresh data out of europe. uk march services pmi coming in at 55. nicely above consensus. it comes off the back of disappointing manufacturing and construction pmi the last two days. as we know, services pmi the most important one for the uk. 68% of the ik econouk economy. eurozone pmi at 56. expected at 56.5. the composite pmi, factoring in that manufacturing number for the week, 56.4, slightly below the flash reading. european markets, just to see, essentially flat today. germany a bit soft. comes off decent gains yesterday. >>> that was thanks in part to oil prices which are back on the rise. going back to early march levels for oil. strong again this morning. wti crude, 51.57, up a percent. it's wednesday. we get that government inventory data later this morning. brent hovering just below $55 a barrel. up more than 1%. as for the u.s. dollar, sort of on the back burner lately. let's sh

a look at the shanghai composite in china lower by one half of 1%. lauren: ceo of united airlines tries again. his latest apology as united stock price continues to be under pressure. lea: in sports, new york mets destroyed the lives of former adults football quarterback tony roma almost scores a dream. you've got to stick around for sports. lauren: 5:31 a.m. in new york are welcome to "fbn:am," your first look at morning markets and breaking news. lea: breaking news this morning accused as russia trying to cover up his searing weapons attack last week. u.s. intelligence confirmed that the assad machine used sarin gas on his own people. 80 people including its own children. in an interview with maria bartiromo, president trump shares his views as area. >> we are not going into syria, but when i see people using horrible, horrible chemical weapons, which they agreed not to use under the obama administration, that they violated it. >> they said they got rid of them. >> what i did should have been done by the obama administration a long time before i di

the pair are now level on points and, in the wet shanghai, this duel continues. sergio garcia now leading the masters on the final day at seven under. you can follow all of that on bbc radio 5 live. for now, that's all the spot. more for you later on. police in manchester have launched extra patrols in the city centre, after receiving a surge in calls about people passing out from taking the banned drug spice. it's been reported that the substance left some users looking like "zombies". shabnam younus—jewell reports. zombies in broad daylight — these people are users of spice, a synthetic drug which used to be legal, known to cause extreme effects including psychosis and muscle weakness. you see a lot of people who get absolutely smashed out of their trees, throwing up and falling all over the place. i don't smoke it to do that. ijust have a smoke and just relax, you know, like... basically, it's an escape route from the normalcy of life, with it being so cheap. this weekend, greater manchester police took 31 calls about people thought to have taken spice —

in china the shanghai composite index edged higher. lauren: data your political outsiders just ran for president, we'll ask fox news contributor nigel farage about the future of friends. nicole: albers and may be looking to buy whole foods. we will have the latest on that story. lauren: the atlanta hawks dig deep even out there. nicole: good morning to you. 5:31 a.m. in new york. tuesday, april 25th. welcome to "fbn:am," your first look at morning markets and breaking news. lauren: president trump wants to slash the corporate tax rate from 35% and 15%. it could increase the reform proposal. treasury secretary steve mnuchin explaining his plan. >> simplification. the average american should be able to do their taxes on a large postcard. business tax reform. we need to make business taxes competitive and we expect with doing that will bring back trillions of dollars from offshore. nicole: meanwhile, the estimate a 20-point cut in the tax rate would lower federal revenue by $2 trillion for a decade. the treasury secretary has said the tax

shanghai in the wet can be a fearsome sight. here, battle lines drawn, lewis hamilton and sebastien vettel, there is little between them. hamilton's mercedes started in front, now all he had to do was stay there. whilst the track was dry, it was for a time confusion and chaos that reigned. staying on the track, that reigned. staying on the track, that was for some proving a little too difficult. the early laps stifled by accidents, a pit stop leaving sebastien vettel down the field. hamilton keeping his calm and keeping any trouble behind him. teenager max verstappen having started in 16th now up to second, but that all but‘s ferrari was slowly fighting his way back. he would eventually regain his second place but that was as close as he could get to hamilton who led from start to finish. the pair are now level on points, and leaving the web of shanghai, the duel continues. the final round of the masters is perfectly poised, with england'sjustin rose and spain's sergio garcia joint leaders on 6 under par. there are plenty of b

anna: you mentioned shanghai was a different story. today they are more in track with the global rally, the shanghai composite up by .5%, msci closing at a record, asian stocks extending the rally. it's a broader asia story but shanghai did drop, into that third week of loss. we will keep an eye on that story, and this is the canadian dollar against the u.s. dollar, its lowest in the year. trump was reported to say they could impose a 20% tariff in a briefing on some journalists, watching this sector. wilbur ross says this is a bad week for u.s.-canadian relations. manus: that is what unnerves markets, on the flip of a time he can -- flip of a dim, he can change his mind. in regardsff lines to tariffs that are possible. anna: let's get to the first word news with juliette saly. juliette: anna, thank you. u.s. president donald trump has called for tax cuts for individuals and to lower the corporate rate to 15%, according to a white house official. tomorrow trump plans to make public the broad outlines of what he wants to change in the t

shanghai korean peninsular and is about to spread throuthapan. shanghai will see some rain, notjust on thursday but good comeback at the weekend. the reason we are talking about shanghai, it is all to do with the formula 1 grand prix, the second race of the season taking place on sunday. there will be some rain on thursday and again at some stage over the weekend, but a lot of doubt about weather it will impact the race itself on sunday, we will keep you updated. this is the picture across europe, high—pressure, fine weather in the west, more unsettled in the east. milderairto west, more unsettled in the east. milder air to the west, more unsettled in the east. milderairto the far west, more unsettled in the east. milder air to the far east into moscow, things will turn cooler over the next few days. if you are heading to european holiday destination, through central and eastern parts of the mediterranean there are some showers and thunderstorms but it is a sunnier and warmer picture across southern france for thursday, lots of sunshine for man

looking at the shanghai composite, of course. this time it is more speculation .bout a leverage crackdown there could be restrictions put on changing. people are looking to get out of this market. well. to the upside, as and look att along what is going on elsewhere. that is the u.s. 10 year yield. cold at the biggest fall within three months. we have recovered somewhat from that. 0.33%.k of that is from the following the election of the establishment parties not included in the final round of the french election. headlines. -- and outline of its tax plan this week. the specifics may not be ready until june. president trump tyler nase twitter follows that a tax reduction will be announced on wednesday. mick mulvaney says they will lay out the principles but it needed the plan will not be ready for a couple of months. the ecb may be ready to move to exit faster than expected. no policy change is expected. survey responders say that mario draghi will provide guidance june. at the beginning of march he said it wasn't on the agenda.

shanghai was an interesting exception. the shanghai composite having the worst day of the year after chinese regulators said they would tolerate more market volatility as they clamped down on speculative trading. look at the reaction. will you notice the big strength from france itself. the cac up 2.4%. some of the banks in france are surging as much as 10%. really a strong reaction. look at italy as well. that was considered another domino to watch, in case the french election results went far left and far right. that was the ugly scenario for the markets. it did not go that way, italy surging 4%. >> these markets are not that far from the high. it's not as if they've been depressed. they actually have been relatively strong. this was actually a little bit removal from one big uncertainty. >> and also, a lot of people said this reaction was priced in because they were expecting it there is clearly some trepidation, we saw that in the french bond market leading up to this. a big sigh of relief. >> for sure. even in the u.s

his profession -- his perspective from shanghai next. this is bloomberg. ♪ vonnie: this is bloomberg markets, i'm vonnie quinn. yahoo! is reporting earnings after the closing bell today. investors will want details on the purchase of verizon for 4.5 -- $4.5 billion. the deal was pushed back to the current quarter and given a $350 billion discount. let's look at yahoo! in today's numbers don't lie. data has deteriorated steadily over the past four years. it still represents over half a billion eyeballs. that is meaningful to advertisers and verizon which wants to become the third-largest player after google and facebook. they think they can generate $20 billion of rep -- of ad revenue by 2020. yahoos revenue decline is slowing, and sales in the quarter were down. not as much as previous quarters. it marks the best revenue performance in a year and half. it implies a turnaround. what really matters to investors on tuesday, today, how yahoo! plans to monetize the remaining assets left after the verizon deal. mainly, it's a $40 billion sta

shanghai is probably the worst. or san francisco is also bad. how can technology free up that time. that will be fully realized and we level cointreau or level five autonomy when we really get there. also to reduce the carbon monoxide emissions around the world. it is equally a big problem in the u.s. as well. we have to solve that problem. the third problem is loss of life through injury and accident that lead to death with motor vehicles in the united states. the leading cause of death between people 5-24 is motor vehicle accident. economists technology can help prevent that. those are the three things we're considering. and china we say our vision is to give the users a joyful lifestyle. we think of nio as a user enterprise. reporter: there are also lots of regulatory challenges, incentive subsidies, taxes, and that the manufacturer is unknown area what is your list in terms of the challenges? >> i am a technologist and many of these challenges we have solved. that is the power of technology. silicon valleyin and lead a team in silicon valley. over the last six months, the amount

let's look at the breakdown on the shanghai composite in terms of sectorial breakdown. ,onsumer stocks down .6% industrial falling .5%. we are keeping an eye on chinese property stocks, up .9%. many developers could see a ratings uplift in the next 6-12 months, fidelity and s&p global ratings, this as chinese builders are and enjoying a leverage.bt i want to check in on chinese airline stocks as well given ,hat debacle around united given what we saw on sunday. airline stocks in china down .9%. air china leading the drop, 1.5%. china is a crucial part of transpacificative network. the story was of top trending o with more than 270 million views. hong kong property stocks, real estate tires woke up to new rules today, the government closing a loophole here to prevent multiple purchases at one go that were too ovoid stamp duties. are at records. j.p. morgan says they are close and are economically unsustainable. check this out, another sign of rising volatility as risk is taken off the table and price swings in hong kong are spiking higher from the lowest level in two yea

take a look at the real estate rising in shanghai. we did get some research data coming out of fang holdings. fora's average home prices major cities grew faster in february,about 1% for with investments away from first and second tier cities with curves. up 7/10 of a percent. keep an eye on chinese cold today. authorities are said to have sent supply contract requirements. let's look at the full screen to see how they are faring so far. a flat trading debut, up about a quarter of a percent. shares were offered at 15.84 hong kong dollars. citic shares down about 2/10 of a percent. they are china's biggest conglomerate. the stock has fallen almost 5% in the last year a last year. leeco, at let echo -- falling. it is set to have missed its u.s. forecast. shares of leeco falling for a fourth day. rishaad: thank you. let's get straight to what's going on with the first word news headlines. here's rosalind chin. rosalind: toshiba's humbling in tokyo, and it is due to earnings data. reports are emerging that it is at odds with its auditor.

lauren: japan's nikkei index up 1% overnight and china the shanghai composite up just a bit. nicole: in europe french stocks opening up against some pressure. cac quarante is up, deutsche bank might be under some pressure today. london ftse down. lauren: this morning we are going the hear from industrial giant general electric as well as honeywell, we will see how a stronger u.s. dollar is affecting their bottom line. nicole: in sports lebron james stage historic comeback against indiana pacers. in hockey the penguins eliminate the blue jackets. lauren: 5:31 a.m. in new york. friday april 21st, good morning, everybody, welcome to fbn:am, first look at morning markets, breaking news and what to expect for the day ahead. nicole: reopens after a deadly shooting just days before francÉs presidential election. in fact, you are looking at live pictures there in paris right now as a gunman opened fire on police killing one officer and wounding three people before police shot him. >> i saw three men in audi and shoot on the police and killed one of the police and injuring one. then

we have the report from shanghai. >> strong growth in the first quarter. q-1 gdp came in at 6.9% from a year ago beating expectations. the consumer remains the solid headline number was due to bay shipping stimulating the old economy in china, steel mills and property developers, instead of shifting to new growth. retail sales healthier than the previous two months. there's still a lot of uncertainty whether consumer spending is picking up to a meaningful degree. this is what the ceo of young china told me how big a role the consumer is spending in the economy today. >> there are key measures to how consumers are responding. the first is the number of restaurants that you build, and existing restaurants, what are sales looking like. so i think on both those metrics, we've been encouraged. >> industrial output for march accelerated from 6.3% in the first two months. asset and investment expanded 9.2%. the economy is still reliant on fai, and that's raising concerns about rising debt, excess xat ti and how long the uptick can last. on top of that, uncertaint

bloomberg world headquarters in new york, we are going to take you from washington to san francisco and shanghai in the next hour. you're the top stories out of bloomberg and from around the world. faces a significant pay cut and a regulatory probe for trying to unmask an anonymous whistleblower last year. he has admitted and apologized, sending a memo, saying he got to personally involved. wells fargo's board is firing back against the x ceo, the board taking the pay because some -- because he allegedly reacted too slowly in the sales practices scandal. gm's market value to become the most valuable automaker in america a week after tesla insed ford's work in value the relative value of elon musk company. tradingalfway in the day. abigail doolittle joins us now with the latest. there has been a mysterious downturn in stocks. >> we are looking at volatility. we have the dow, the s&p 500 and the nasdaq trading in unchanged fashion earlier. i have all been on pace for their best day since april. the nasdaq has been up half percent. it is not clear what has caused this downdraft of the s&p 500. you

the shanghai composite index of fractionally. the hong kong hang seng up 1% increase costs that half of 1%. lauren: european stocks mixed markets picked with the downey, cac quarante ahead of the french elections first-run on sunday by 40 points. dax in germany 14. should the dow has been down 232 points in those two days. today looking at paris. mixed earnings. looking at the dow futures up 30. lauren: oil prices gained steam this morning at 43 cents, $50.87 a barrel. nicole: a keen eye on the year ahead of the french election right now has been higher as this u.k. pound canadian dollar mexican peso against the u.s. dollar. the japanese yen weaker against the greenback. lauren: does it continue to fall to .24% this morning? nicole: general motors is feeling the effect of venezuela's economic crisis. authorities in the country have illegally seized its plant in the industrial area and promises to quote, take all legal action defend its rights. gm says the move will cause irreparable damage to the come to me, to his workers and su

based on the buzz we're seeing at the shanghai auto show you wouldn't know it. as you were saying, more than 1,000 companies are showing off their wares with over 100 global debuts. why? because china is still the largest auto market in the world. it's one of the most important for many carmakers. for years carmakers have seen this market as a profit center, but this year, 2017, is really proving to be a challenging one because of economic conditions slowing down, disappearing tax incentives, price wars brought on by increased competition. i spoke about all of this with the ceo of vw. this is what he had to say about the outlook. >> translator: it's a difficult market with cut-throat competition out there. but volkswagen is looking ahead. i think that after a successful year, 2016, this year, too, will also be positive for us. so i think it's going to be a successful year. >> what kind of strategy will you put in place to expand the market? >> translator: volkswagen has been in this market for 34 years. very successfully. so we have lots of experience. i think w

shanghai, we have the grand prix here. lots of heavy rain pushing through, it looks as though most of the wettest weather will be south of shanghai but there will be wet weather heading towards the city. let's have a look at the forecast. probably try but then it will cool off a little bit and we will see some rain on race day. early in the day. by the time the race is on, the weather conditions should be drying out. finally, look at europe. the weather is looking pretty good along western and southern parts. lots of sunshine the uk. on sunday, peaking at 23. eastern and central mad, lots of sun around. warmer in london than in athens. past north west africa, all the way into calorific, here temperatures are in the mid—20 jeez, not far off what we will be getting a london. the weatherfor the not far off what we will be getting a london. the weather for the week ahead coming up just a london. the weather for the week ahead coming upjust before ten o'clock so don't forget to tune into that. our main headlines: the us has s

shanghai composite lower by five tenths of 1%. lauren: in europe committed g-7 foreign ministers begins a one of their meeting today. france's official campaign for the election begins today. but that come in mixed reaction. to see a three-point landing. cac quarante down three-point. lea: u.s. stock market futures higher by 10. as to be higher by one. nasdaq futures higher by two. lauren: oil prices are firm in at $52.60 a barrel up about 7%. gold given that two bucks, 12.55 a tray on spirit and very busy week for investors coming up this earnings season gets underway and political risks around the globe strengthening. joining us now, break you in, chief market strategist at first frankly. good morning to you, sir. >> good morning. how are you doing today? lauren: "the wall street journal" says we are expecting the strongest quarter for corporate profits in six years. are these expectations too high? >> you know, i really don't think so. you know, we started at the year with expectations around 8.99%. we really believe that our f

but declines as you can see forced shanghai about 0.5%. and shanghai flat as well. european trade as well. germany, was the big lagoff. european trade, with uk and france essentially just positive for the week. france now negative this morning. we've got latest polls coming out. and the story in the last week for the polls for the french election has been gains for the far left candidate of mr. melenchon, raising the possibility we could have four candidates, melenchon, marine le pen and harmon, highlighting different ways the second round could go, depending on who has a final boost. >> first round of voting there. the 23rd. >> sunday, the 23rd. just over a week or two weeks away. >> broader markets had a strong week last week, gaining 0.75%. brent also inches higher just below $56 a barrel. up 0.8%. as for the u.s. dollar, the reaction there it's been a calm week for the u.s. dollar. the dollar is strong against the yen, that certainly helped the yen, as wilfred mentioned overnight. you can see the damage that has been done over the past few weeks. and the pound s

china's shanghai composite index fell on regulatory crackdown. the dex jumped 1.4%. lauren: stocks open higher in the french election results that just ran my stay in the european union after all. but the tip 132 points in london. german dax up 130 points. the lauren simonetti in paris -- cac quarante in paris 4.5%. tragedy are up sharply on the french results as well up almost 2% now. tranter and this merger monday $24 billion merger in the medical supply business. true endurance sports nba playoffs get high. isaiah thomas leads the boston celtics to victory over the chicago bulls and the houston rockets fight their way to a three to one lead over the oklahoma city thunder. lauren: happy when they come everyone. i for 1:00 a.m. in new york. welcome to "fbn:am," your first look at what is that in today's markets in the latest breaking news. nicole: to political outsiders. celebrating his fate jury. the 39-year-old former economy minister and investment minister. sad they will face 79 who has 20.4%. lauren: protesters crashing right police showed them advancing to the