the shanghai part of the equation is not set in stone yet. they are planning to list on the china's newwhich is destination for tech companies and a place the company is hoping to create and nurture into a destination. was lulu chen with the latest. we are expecting the valuation to be north of 200 billion dollars, as it goes public in hong kong and shanghai. staying with alibaba, they spoke to the carlyle group. company's is the this in the u.s. and the impact of the pandemic and trade tensions. >> people are always surprised when i sit down with u.s. officials and i talk about what we are doing in the u.s. they become supportive when they understand the impact and scale of what is being sold by american companies to the chinese consumer. misperceptionsad , but once they hear the story and understand, they are very supportive. they understand that will be our core mission. >> many ceos say their employees are working remotely, but move them do not want to come back to work until there is a vaccine or some of them say even if there is a vacci

seeing the shanghai composite down 7.2%. .73%. looking at this negative mood out there at the moment. even though we have some people coming out and saying this is a definite time to be buying chinese equities, even though valuations are steepening. really thatolitics before. we have the ministry of finance coming up that said the state

shanghai composite up by 1%. a for tens of 1% move for the overall market in this part of the world. futures also under a bit of pressure. we have several states facing a dire situation with regards to covid-19. 10 year yields at 0.62%. the question has got to be, what to the banks do -- what to the banks do? they did some lending, but it does appear they used the access to by treasures. that put a cap on 10 year yields and added to what is going on in the stock market. we have investors trying to get returns from somewhere. the nikkei, one third of 1% lower. the hang seng still down. shanghai composite up by about what -- up by about 1.1%. the nikkei shrugging off the weaker export number. weaker than expected export number. imports were slightly better but still negative in japan. lots more to, including a look at a virus any more detail and where we are with it. this is bloomberg. ♪ rishaad: global coronavirus cases are now about 14 million with deaths over 600,000. infections are rising in victoria with mas

the shanghai composite also going along the ride when it comes fo to that rally. but, as you mentioned, there are very few new economy stocks in the rest of asia. yvonne you know, there are so many moving parts. one thing is that the dollar has been weakening gradually. 15k: stripping off about basis points a day the last couple weeks. so if we get it continue dollar decline, that would be helpful to the rest of asia. i think people will increasingly be looking to invest outside of the united states particularly if there is a blue wave in the united states, the democrats get the senate as all of the house of representatives and the white house. our focus is on china because it has new technology. you mentioned shanghai composite, it doesn't have new economy, but it is still going up because of a bunch of reasons. they seem to have beaten the virus in china. the economy is coming back and the government has signaled the likes of a rising market. so that is where our focus is, maintenance china in particular. haidi: you mentioned the elections in the u.s.. our quest

two weeks on the shanghai composite. the washington redskins could make a major change to the team's logo. cheryl casone with those details now. cheryl: espn is reporting the nfl team will drop the native american imagery from the team logo but are discussing whether to change the name of the team. the redskins are facing pressure to change over the racial connotations. amazon is the latest retailer to pull redskins merchandise from its site, joining walmart, target and dick's sporting goods. and fed ex formally requested a name change. pier one imports will find a new life online. retail e-commerce ventures will buy pier one's assets for 31 million, edging out a private equity firm in a bankruptcy option. pier one announcedth would close their stores in may and liquidate its inventory after 60 years in business. and here's a look at what's trending on foxbusiness.com. twitter sparking speculation it may be launching a subscription service after it posted a job listing online calling the position a first for the company.

and also making improvements expanding capacity and shanghai to start bringing the model y out of shanghai next year. he has ended the quarter from facing a quarter where profit was a question to over the course of a couple of hours to being in a pretty strong position. shery: the other big takeaways from the earnings call. ed: the other big takeaways are that elon is very focused on the breath of the business. he had a lot to say about the battery and soda business, a lot to say about insurance products. when it comes to labor and workforce, the biggest concern tesla has right now is hisacting -- to build out insurance products. he's also talking about how they basically can just improve as a company. they are not super focused right now on profit. they are all about growth, which is something investors were looking too. remember the context here. for the last few years, tesla's capex has been pretty low, it's been below target. they are targeting capex around $3.5 billion right now and that is something investors wanted to see going into this quarter. evidence that tesla would accelerate

the shanghai index rises more than 5%. and in europe, the bank of france governor says the country's economy is picking up faster than expected. christine lagarde sees disinflation ahead for the eurozone. good morning, everyone. this is "bloomberg surveillance. francine lacqua and london, tom keene in new york. a lot of the focus is on stocks, a lot of the focus is on the rally, a lot of the focus is on the number of cases rising across the world with market is largely ignoring it for now. newust to give you an idea -- idea,ust to give you an what changed on this monday as we stagger through july is there is no question the tone over the weekend was the understanding there would be governments to the rescue of fiscal underpinning to what is trying to be a recovery. you mentioned the important goldman sachs story, but clearly the markets are lifting here with a belief that governments will once more step in. francine: and there was a pretty incredible rally with shanghai stocks up 5%. let's get to first word news in new yor

so it's just what we like to say like good news is bad news we actually saw that today because the shanghai index plunged 4.5 percent on this report that it beat expectations on the surprise beat that looked like good news however the market fell due to fears that this good news would force the government to enact more medicine or to tighten monetary policy to cool off the recent sharp rise in the market in our tovia activia i actually want to move on to equities here ernie's we continues as we see reports out of the bank of america where profits fell by more than 50 percent for a loan losses how concerning is this to you especially if we continue to stay in a low interest rate environment for these big banks. well i think among the big banks in the u.s. you're seeing a real sort of bifurcation in 2 directions so is the retail and commercial banking that's taking a big hit is it in terms of the low doses and reserves but i would point out these of cost losses rather than actual losses so these big banks being very very conservative managing their balance sheets and saying we're going to put

that is mainly through jv shanghai for helicopter parts. saying today, the u.s. needed to stop selling weapons to the island and what they said avoid further harming ties and instability in the region. that's what they also said about the u.s. on another issue calling the u.s. a trouble maker because the state department overnight had hardened its stance against china's actions in the south china sea, which is a disputed area. the u.s. said those actions the chinese have had are unlawful. brian, china claims the entire territory, pretty much all of it as its own territory neighbors agree that the u.s. has never adhered or went along with china's claims. this latest move does hak it a bit tougher in its description of china's actions >> help us out with geography. i know there are a number of islands in dispute the primary ones, as i see them. they are really far south. hundreds of miles south of the southern most point of mainland china almost directly across from vietnam or the philippines, are they not >> that's right. there are several more islands you think,

the shanghai cob is lower. they are largely flat after what we saw on friday. state funds trimming their holdings. there was the big news of the haltingetf in china trading until 10:30 a.m. this morning. they are saying the warning of -- thiss involved here tracks some of the largest stocks in shanghai. take a look at singapore. this is reopening after the singapore election. retaining the firm grip on power. when he 89% of seats. that is considered the weakest showing ever. good.be for stocks some analysts say a --de -- a diverse up three quarters of 1%. we are taking a look at bonds and currencies. we watched the dollar posting the second weekly loss. it comes toing when the belly of the curve for u.s. treasuries. reversing some of the gains after we sell yields touch a record low on friday. lower by one basis point. 10 year yield elevated. your offshore renminbi, we are around the seven handle. goldman reviving their 12 month target to 6.7. they are sitting -- they're saying the fundamentals a little bit better. you are looking at the yen as well. some stren

just getting to the lunch break in shanghai. we see markets under pressure with more, at the moment, tensions between washington and beijing. ♪ ♪ is almost 11:30 a.m. in singapore. we are in the middle of the trading day. the sti down about 1.3%. it is down almost 20% year to date. credit suisse faces a new suit in singapore. bank'sm suing one of the trusts in singapore. that opens a fresh fund in the long running dispute. it ruled the city had a jurisdiction over the case. -- the msci asia pac index down. let's get the first word headlines for you. the coronavirus pandemic is likely to see india missing estimates, as government finances come under pressure. secretaryic affairs a says spending targets may not be achievable and the current fiscal year may be "lost." the deficit is expected to widen to 7% of gdp, twice the government's original call. up latest brexit talks broke , with both sides saying a deal remains out of reach. the eu says big differences remain and agreement is unlikely. warns an accord may not be reached

you know shanghai well. why is shanghai not part of this discussion? >> possibly because of the commercial impact it might have on china because just like shuttering houston not only affixes -- effects china, it also damages the u.s. because you can imagine all the big energy companies in china, u.s. companies will never get av said there again -- will never get a visa there again. wuhan, where there are only a few u.s. diplomats left at the moment, that wouldn't affect china so much but it could damage the u.s. because it would further cut off any access america has two ground zero in the coronavirus. hong kong equally would have a huge impact on the u.s. and less so on china. it is all about that calculation and in that regard, shanghai is possibly off the table. francine: how linked is it to andident xi's leadership, i think he needs to contest it again in 2022? >> it feels like it is a long way away but every five years, china has a big party congress where they essentially reaffirm the leadership and in some cases unlike thehanges, one in 2017 whe

and all of the brake manufacturers in shanghai and beijing, but shanghai is the first one, looked around and said hey, maybe people voted back on bikes and this battery technology has gotten to the point that they can put a battery in a tiny motor on a bike or not that much money then vanity factory worker can afford to pay. they can go 15 to 20 kilometers in an hour and charge, you know and then get back home. that is how it was born. he was born because like chinese manufacturing workers, they needed a way to get to work that didn't involve getting on the bus during a major epidemic. so i think we are going to see those kind of things come out of the woodwork and that's sort of where my attention is focused right now as opposed to his mass transit going to survive or what can we do to fix it or should we be trying to deal with the devil and find a way to manage people searching back to private automobiles. and in particular, for cities, i think that that's where the answer lies. right now we are in the midst of the restart of the subway system and i'm very anxious about the lack of man

rest of the world unless you focus on two countries, china, that's had a great day today and put the shanghai index up 10% year to date and germany only down 3 or 4% year to date more similar to the s&p 500. do we conclude if you're really, really on top of controlling the virus that u yyou should perform well and if so, why has the u.s. performed so well? >> look, first of all, welcome great having you i think this rest of the world trade is something that actually we've seen start to move two to three weeks ago. if you look at the dax and you want to invest in the ewg and remember that's a local currency based etf. effectively, you're going to out perform if the eros is out performing the dollar and the dax outperformed the market 12, 13% in the last six weeks. china last night had an extraordinary dynamic of where the securities journal and the state newspapers were essentially saying hey, get involved in the stock market wealth effect coming bull market possibly coming and stimulating the fact there will be exciting support for their markets, whether they should be doing that or not but,

michael: public in hong kong and in shanghai. david: and for a company like alibaba, the controversy going on in hong kong is not that relevant because your core business is sharing -- is china. has that produced tensions within the company? michael: we are a corporation. we are not part of the government. the geopolitical tensions and the tensions between china and hong kong or china and the u.s. and hong kong, these are not areas that we will be able to resolve, where that will have a material impact. by us moving one way or the other. we are sticking to our core strategy and business, and trying to do that as well as possible. david: for those people who are watching who are not living in china, when the average person is walking down the street in beijing or shanghai, are they wearing a mask? our masks, now? michael: masks are very common. even before covid, it was not unusual to see people wearing masks. less outside. but i attended many meetings over the last several years where somebody or a small group of people within th

[indiscernible] they guaranteed ipo in hong kong and shanghai. definitely, you are seeing a few trends here. war.-u.s. trade -- we have seen a number of -- [indiscernible] home.ing back [indiscernible] at the same time, those that , now't listed yet like ant they are open to calling it home. it is an interesting trend. continue. looks to >> right. we just have breaking news right now, we have the eu government reaching that landmark deal we have been waiting for on the 750 billion euro recovery plan. on that joint debt issuance. we have seen five days of acrimonious discussion finally coming to some kind of conclusion. the deal still faces difficult negotiations. agreeders have left -- to on climate change targets. still, the eu government reaching a landmark deal on that 750 billion euro recovery plan. rish. rishaad: absolutely. as we get, just the idea that we have the eu president tweeting deal, they've done a deal here. they have reached a deal on the recovery fund worth 750 billion euros. even if this proposal is ratified, there is no guaran

last time the shanghai went up this far this fast, it did not end well. are we worried about amazon being that far over the 200 day moving average? abigail: terrific point. the last time the shanghai putting a move of this degree, it went longer and further than anybody expected but ended in a 50% crash. whether or not that happened in the shanghai composite or when it is probably the bigger question. when it gets this frothy, it is difficult to tell. relative to amazon the stock is the march lows. unbelievably overextended. this is nerve-racking from the standpoint -- while you have the ultimate stay-at-home stock doing so well while the recovery sector of energy and financials are in bear markets, it creates the tension. it tells you that at some point, stocks are likely to come back to some sort of technical reality, talking about the 200 day moving average. when? who knows. much further and longer than you can ever expect. david: very wise. thank you to abigail doolittle for that report on the markets. we have had some tension. it is a tug-of-war betw

on wednesday, 33 for the high in shanghai, 31 in hong kong with thunderstorms. beijing also seeing activity with thunderstorms with a high of 31. wednesday is going to be wet for a good portion of east asia. have the umbrella nearby. speaking of wet weather, across north america we had this front that was draped all the way from the great lakes down towards the southern plains. we had another low down towards the south and the gulf of mexico that threw some moisture into the front. we will see some more wet activity for the south earn united states, pretty much the eastern seaboard will see more wet weather. up to the north and east, be on the lookout for very unstable weather because we'll be looking at some of this stronger wind activity along with thunderstorms coming up as we go through tuesday. d.c. at 34, thunderstorms. atlanta, 29, looking at temperatures up to 32. denver partly cloudy skies through tuesday. that's a look at your forecast. hope you have a good day wherever you are. ♪ >>> that wraps up this edition of nhk "newsline." i'm raja pradhan in

we have created an planning to t in more or less people than you have been letting in in shanghai? josh: every park will be a little different. we look at capacity, the number of attractions, the specific guidelines in the marketplace. we will dial things up and down depending on the marketplace. each of these parks is a phased operating approach. we have a dial we are moving as we see as the guests are behaving and what demand looks like. i will tell you, we are pretty pleased with what we have seen right here at walt disney world, as well as in our international market. emily: you've got epcot center and hollywood studios. what is the plan for california at this point? josh: california right now, the government has not issued guidelines for theme parks reopening. i can tell you that having the benefit of theme parks around the world and watching how they operate, we are very prepared. as soon as the marketplace is ready for us to open, we will be opening disneyland but we don't have a date. emily: you also oversee experiences which is gaming publishing. you have a broad view on t

china continues to run, the shanghai composite extending the winning streak to seven days. new york state finding deutsche bank for his relationship with jeffrey epstein. cheryl casone with those details. what a story this is. cheryl: deutsche bank is going to pay $150 million for not properly monitoring the activity in epstein's bank account, despite what the department of financial services calls ample information the bank had about the circumstances of epstein's earlier criminal misconduct. the department says deutsche bank missed hundreds of transactions which included payments to russian models, payments to people identified as co-consistent poo spico-conspiro cover women's school tuition, hotel and rent expenses. deutsche bank as you can see right now in the premarket is trading up almost 1%. they say they regret the association with epstein and that they're going to work to maybe better the attitude at the bank. america could be running on a little less dunkin. the chain plans to close 450 stores by the end of the year, all of the locations are inside speedway gas st

the flights to shanghai will be on wednesdays and saturdays. return flights will be on thursdays and sundays. united also said it installed hepa filters to remove most airborne particles. united like many other airlines said the recent surge in coronavirus cases is hurting business. companies now reducing the flights after saying just last week that it was increasing flights. united plans to evaluate and cancel flights on a rolling 60 day basis until it sees signs of recovery and the demand for travel. the tech ceo now being identified as the men captured on camera badgering an asian family during a racist rant. and a warning about a fakeimmun from wearing face masks in public. what the better business bureau was saying about that. green, white, and blue. the colors of one nation uniting in gratitude. for all those on the frontlines fighting for the rest of us, we salute you. >>> the trump administration now pressuring governors to reopen schools this coming fall. we'll tell you why the white house says distance learning is not an option. >> tr

these are your headlines european equities see red as mining and oil stocks fall the shanghai composite falls around 2% at the close sanctions on china called a serious interference in affairs and warning it will retaliate. >> investors cheer carlsberg as the group sees a strong rebound in china and ireland's pascal donahoe is chosen at the next eurogroup president. he says the focus is to bring back jobs. >> i will play my part in working with all members of the eu eurogroup to make sure this group makes the contributions. the challenges are great but we will prevail and will overcome >>> we kick off the show this morning with a major oil report crossing the latest is that the organization has bumped up its 2020 oil demand forecast today but it has warned that the spread of covid-19 has posed a risk to the outlook. steve's been pouring through this document and has all the analysis >> i'll be honest, not every page i think it's 81 pages i have from our friends at the iea. it's pretty much what the doctor told us -- oh, gosh, we interviewed him on stn a few weeks ago. the situation at t

shanghai composite up about 16 h shares in now and hong kong up by .5%. pretty marginal gains here in the last half hour or so with it brings us near the top of the 2015 bubble. on the other of the argument hsbc is cutting china to neutral f this rally. something to keep in mind as we take a breather here from the exuberance we've seen in chinese stocks. one more thing we're watching is the hong kong dollar. now $15.7 billion hong kong has been injected into the system there. solid that pair and the renminbi with a six handle for the first time since march. the strength of the renminbi certainly helping the equity markets as well. and gold still holding. some breaking news from sri lanka, the federal bank cutting its lending rate to 5.5%. it's a big cut, a 100 basis point cut bigger than expected. economy expanding at a pace of 3.8% in 2021. much bigger than anticipated. let's dig deeper into the ofkets and bring in ahead for-pacific -- thank you joining us. let's talk about china. it's going gangbusters in the last seven days alone. outpacing every other

state backed funds see serious selling in shanghai. let's get perspective from barclays wealth management cio. great to see you this friday. let me start by asking you the role of global investors, but the way we should view the chinese stock market. it is retail-heavy. it also perhaps doesn't behave in the same way as other stockmarkets or maybe that is outdated and correct me if that is. funds step back and that is viewed as a sign to others that we should not let the rally get away from itself. what significance does this rally and pullback in china have? >> i think that there are a number of points to make. good morning and happy friday and to our listeners and viewers. china slipped a long way very quickly. in a very short time, you could at metrics, may be a pullback was overdue. this is the region that is really teaching the rest of the world about how to handle this crisis. taken morefar sporadic outbreaks quickly tamped down rather successfully. you look at the chinese economy. by june, it was already back above where it was l

in beijing and shanghai. welcome to bloomberg markets china open. i'm tom mackenzie. -- it is 9:00 a.m. in beijing and shanghai. david: our top stories today -- the fed leaving rates near zero and promising to do whatever it takes to support the economic recovery. chairman powell calls the downturn the most severe in our lifetime. tom

the hang seng today flying on the prospect of the ipo in shanghai. you take a look at the broader picture. u.s. futures are also up and extending gains, up 0.8%. -- thendout is the msci csi 300. we are inching closer to that benchmark. we saw strong commentary from state media saying fostering a healthy bull market after this epidemic is now more important for the economy than ever. take a look at what you are seeing. you basically see asia fx gaining today. dollariah, the taiwan gaining come along with the aussie dollar. the japanese yen is retreating. we look at other assets, and it is yields taking higher. thailand is closed for a holiday as well. your chinese 10 year yield up six basis points, back to levels we saw at the beginning of this year. brent crude also adding to those gains, 42.94 right now. copper headed in the opposite direction. halinda: plenty more to come. in the next hour, stay with us. this is bloomberg. ♪ you doing okay? yeah. this moving thing never gets any easier. well, xfinity makes moving super easy. i can transfer my int

businesses are it is not as important as shanghai or quango but it is quite important because it covers a wide area of china it covers the whole southwest of china and it also covers tibet which has a distinct political meaning so it was an imp. it was a step that china had taken that is about reciprocal towards the u.s. had done it the importance should be about the same level as the u.s. and consulate was to china as you mentioned this was indeed a tit for tat response but where does this leave the relationship between the 2 countries. their relationship is as bad as it has ever been this this is really a low point during the past few months we have already seen deteriorating this this relationship and this closure of usin consulate set off another deterioration we will see now what will happen next there is little chance that the relationship will get better before the elections in the us and then of course it will also depend on the outcome of the us as elections whether the 2 countries can move on and maybe take these panels down again and restart on a more positive note but is bui

eight days in a row of gains in shanghai. that is the longest streak we have seen since january of 2018. the hang seng is down a little bit. i want to correct a headline from earlier on. here wees before 8:00 put out a headline that said hong kong found at least 47 new local coronavirus cases. this, according to hk01. that has now been corrected to 16. hong kong has found at least 16 local virus cases, substantially fewer than 47. this, according to hk01. important it would be to issue that correction. anna: let's talk about what is going on in the u.k. chancellor has unveiled 30 billion pounds of tax cuts of extra spending to support the country through the next stage of the pandemic. plantold bloomberg the was about avoiding economic scarring. >> it is about protecting jobs, getting skills and coaching to get people back to work, and creating jobs by bringing forward and accelerating infrastructure programs. jobs, wetect the support the jobs, and we create the jobs -- that is the best way to avoid the economic scarring from

in hong kong and shanghai. china is warning western countries that stronger appraisals -- strong reprisals are coming. offer is ready to citizenship for hong kong residents and washington is preparing sanctions. beijing says it will respond and its critics will have to accept the consequences. meanwhile, brexit talks have broken up early over warnings that major differences still exist and there is little immediate chance of agreement. negotiations boiled over last week. the eu has admitted officials are working under the assumption that the no deal brexit is becoming likely, and has urged the u.k. to become more engaged. german parliament has ended a legal standoff over bond buying, backing a program seen as a key component of the euro area's rescue plan. chancellor micro's broader line asked chancellor merkel's clearr line is seen as a signal that berlin intends to keep the single market in one piece. top court had ruled that it could be illegal. arguably the most famous plane in history is reaching the end o

shanghaied today is a prosperous international city still run by the communists at least in name. yes there are issues with human rights especially the right to speak against the state and challenge its power i had a range to see professor zion way way a close aide to the late things out paying the man who changed china your old boss things have presided over the bloodshed in tim square what would you say to the survivors. of tiananmen square because so many of those did fight for what they saw as democratic change in china. in 1809 there were 2 political force one was those reprise any by the chinese students their hero was me how you gorbachev who happen to be in their slogan was the. unions today china's to more than so the idea was political reform 1st other reforms 2nd otherwise china will be hopeless and those messy which opposite he saw. that he sought you know china must have economic reform 1st as a reform 2nd this priority must be set clear. unfortunately at that particular moment in 99 to 2 political forces cannot reach a compromise so definitely a tragedy occur. it was

record cases of the crow virus equities are thriving global stocks have rallied to start the week as the shanghai composite soared to its highest level since the beginning of 2018 and u.s. markets followed suit the tech heavy nasdaq even continued its record run hitting record highs of the day so let's go ahead and take a look at what's pushing stocks guys with some expert analysis from boom bust co-host christiane christine big tech is leading the rally monday as we begin the 3rd quarter what is fueling this book bullish market sentiment is it sustainable at this point. all right now today you know how the dow rallied more than 4 arnon points after the basically led by big tech where amazon and netflix hit all new records so one of the big things like a deal making deal making boosted sentiments today as the market got reassurance from big industry have it wakes up just berkshire hathaway and are now starting to make acquisitions kind of going indicator out to investors that are safe now the market also got reassurance from sun data showing that expansion in the u.s. the service sector but that'

moti didn't ask any questions about where his heart had really come from nor did the doctors in shanghai who perform the surgery those kinds of questions are frowned upon in china org and tourism is a big moneymaker there's absolutely no ethical way to justify the killing of one human being in order to save the life of another human being i mean the fact that you your life is in danger and you need a heart that doesn't give any allowance to us physician to go and kill somebody else for the this is because of the one of the missions of the medical community in the world in order to stop that because this is a crime against humanity which by. the a couple of the has fought to change israeli law to stop organ to or ism and forced organ harvesting health insurance companies no longer reimburse the costs for transplants performed abroad new legislation gives people who register as organ donors preferential treatment if they subsequently needed donor organ this is led to a 20 percent jump in organ donations. and one of the clauses of the ogun flows from floor is a unique clause again there's n

well happening today flights from sfo to shanghai are resuming united airlines is adding 25,000 flights to its august schedule. there will be 2 flights a week between san francisco and shanghai and then united is also starting flights to tokyo, seoul and hong kong. well making racially motivated 911 calls in san francisco could soon be against the la county supervisor, shawn walton introduce the caution against racially exploitive non emergencies or the care and act. so the ordinance would make it illegal to call 911 based on biased toward race class appearance or religion. the proposal comes after several cell phone videos of people calling 911 with racist intentions have gone viral, including some right here in the bay area. well to the south bay now santa clara county firefighters are working to contain the cruise fires happening just east of gilroy it burned at least 5400 acres so far and is only 50% contained. evacuation orders are still in place along one 52, northbound one 52 from gilroy to hot springs and then southeast approval avenue there's an evacuation center at the senior

the equivalence would be joe and shanghai for the latter so should do is pretty much a classical tit for tat move as you have already said how how serious is this escalation mathias for relations between beijing and washington. this is of course an escalation this this disclosure in the 1st place of the use in consulate is a massive escalation one that nobody expected china seems to have been taken by surprise by this what we've seen that day is that suddenly news were emerging that they were going burning documents in the consulate and nobody knew why and then it was china that hard to confident that it was ordered to close the consulate while the u.s. while it was night in the u.s. and nobody had communicated anything this through this move by china was widely expected it is recent reciprocal so that this is not a further escalation but it leaves the tensions between the u.s. and china where they were the relationship is at an all time low since the 2 countries have had diplomatic relations in the and of the 1970 s. 90 s. bollinger in beijing thank you. well markets in asia quickly