stephen! stephen! >> stephen: please have a seat, everybody. down here, up there, everybody out there, and of course all my viewers in japan, welcome to "late show"." i am your host, stephen colbert. and i am feeling lucky because nobody won last night, so the mega millions lotto jackpot is over $1 billion. ( cheers and applause ) oh, yeah. that's "billion" with a capital "n" on the end. a billion dollars. think of what you could buy with all that money: a mansion, a yacht, a tank of gas-- not premium, but a tank of gas. for those of you who haven't checked yet, you lost. ( laughter ) also-- don't know-- ( applause ) by the way, if i win, i'm donating half of my money to find a cure for mega ball. courage. i have a very good chance, because i'm very good at picking numbers. off the top of my head: 17, 36, 54-- i could do this all day-- 12, 8. ( laughter ) by the way, i just said all those numbers, and if a viewer wins using any of those numbers, in any combination, i think it's only fair that we split the prize. experts say-- experts say-- ( ap

. >> stephen: wow. >> whoo! whoo! ( cheers and applause ) oh, yeah! oh, yeah. >> stephen: this is working out. also, coming out here in just a little while, our friend charlamagne tha god will be out here in just a moment. ( applause ) he's got the new show "hell of a week," comedy central. and from "stranger things," one of the stars, brett gelman will be out here in just a little while. ( cheers and applause ) you know, folks, i spend most of my time right over there, selecting the day's biggest, most-important news, carefully laying it out on a story canvas, mixing chroma, hue, and value in an elegant and topical dance to create for you the subtle, moving, and timeless claude monet magnum opus that is my nightly monologue. but sometimes, just sometimes, folks, i wake up in an abandoned train car, scavenge some leftover instant noodles and the chewing gum out of the mouth of a sleeping hobo, then stick it all to the back of a scrap of carpet to present the drifter's macaroni art of news that is my seg

>> stephen: no. >> no. >> stephen: the audience heard me get hurt. >> oh, no! ( audience reacts ) >> stephen: and they did that. the audience doesn't want you to actually be hurt. >> no. >> stephen: and it's still a problem. >> stephen: still wakes me up in the middle of the night. >> you're probably have to have surgery. >> stephen: probably have the whole thing lobbed off. baseball you can play-- >> me or you? >> stephen: let's find out. everybody has a baseball team. you can't-- the sport you grew up with, i just found out, is a little more rarefied. tell the people what i used to do. >> i grew up in california. i played basketball and softball, and the main sport i played was water polo. ( applause ) >> stephen: here you go. the anchor, the anchor, middle- bottom right there. there you are. there you are. ( applause ) >> the funny thing about water polo in this picture is, like, nobody knows anything about water polo, so i feel like everybody in the audience is like, "is that how you play it?" >> stephen: that's how you enter the pool, actually. is it true

>> no, i love everyone, stephen. i love everybody. >> stephen: yeah. mm-hmm. >> stephen: you're in the communications department, the press is in the communications department. >> mm-hmm. >> stephen: not to be reductive but it's like the public relation force the white house. >> mm-hmm. >> stephen: how does it feel as essentially the top p.r. person when your boss the president is getting dragged in the priss? when you some idiot in late night making a joke about your boss -- i'm asking for a friend -- how does that feel? ( laughter ) >> dial that friend up. >> stephen: yeah. o i think you all have a job for the american public to make them laugh, and we have a job for the american public to deliver. you know, we understand. we understand that you have your job, we have our job. >> stephen: no hard feelings. absolutely not. and the president absolutely gets that. >> stephen: okay, good. is he going to come on? >> oh, that's where you were going. >> stephen: is he going to come on because he's been on falon -- >> you're keeping track. >> stephen: we're

. >> stephen: yeah. >> no, no-- >> stephen: no, no. >> thank you. >> stephen: no, no. ( applause ) >> thank you. >> stephen: i can't imagine what it's like just to jump in. i like singing and play a little bit but i don't read sheet music. what is it like for you guys to-- do you lay out charts for the guests, louis? how do you do this? >> louis: you know, it's a bit of a mix. some of his songs are so familiar that everyone kind of knows them already. >> stephen: mm-hmm. >> and some with more specific parts, we're making notes and charts. we've got cues kind of laid out on ipads and papers... and chicken scratch. ( laughter ) >> stephen: james, i understand you don't read sheet music. >> no, i never learned to read music well. but, you know, it's-- i find a way to communicate. larry goldings came with me from just being out on-- >> stephen: larry goldings, everybody. ( cheers and applause ) thank you, larry. so you don't read sheet music, but you've played with symphonies and stuff like that. how do you do that? how do you la-dee-da your way with the boston pops? >> just-- it's exactl

. >> stephen: very nice. i have to respect a guest who takes their time getting out here, you know, give a little bit to the audience. you deserve it. >> they hit me with a slow jam. what was i suppos to do?yo, >> stephen: lovely to have you out here.or being here tonight. and congratulations on your emmy nomination for "euphoria." ( cheers and applause ) >> thank you, thank you so much. >> stephen: your first nomination? >> first nomination. >> stephen: that's a good feeling. >> such a good feeling. >> stephen: very validating for everybody on the though. >> everybody on the show, but everyone who say supporter of you. it feels like-- there's a whole team of people-- family, loved ones that you do-- any artist-- do what you're doing. it's everybody. >> stephen: i understand you have a special thing you like to do when you celebrate. what's your little ritual when you celebrate? >> i've had a ritual since i was 21, take myself for champagne and oysters. >> stephen: did you do it? >> i did. but it wasn't a gre

>> audience: stephen! stephen! stephen! >> stephen: please, have a seat, everybody. welcome, in here, out there, all around the world. obviously, everyone in canada. welcome. welcome to "the late show." i am your host, stephen colbert. and ladies and gentlemen i am still-- ( cheers and applause ) i'm still all hot and bothered about the f.b.i. raid at mar-a-lago. turns out, my kink is consequences. we're learning more juicy deets about the raid. it's becoming increasingly clear that the search was tied to an ongoing investigation into whether the former president took classified records from the white house to his florida residence. spoiler: he did. ( laughter ) we already know he did. no matter what it is, it's always what you thought, but worse than you imagined. ( laughter ) he incited an insurrection. he extorted ukraine. he put the bop in the bop-shoe- bop-shoe-bop. he put the ram in the rama-lama- ding-dong! then, made the rama-lama-ding- dong sign an n.d.a. he's already admitted he did it. about seven months ago, the former president revealed that he had unlaw

>> stephen: that's a good point. >> i thought so. >> stephen: that's a good point. that's a good point. a dumb point, but a good point. thank you very much. >> thank you. ( applause ) >> stephen: well, let's talk about the doha accords that were part of the withdrawal from afghanistan last year. >> tommy, take this one. >> stephen: okay, you're going to take this one? >> sure. >> stephen: because the taliban agreed to "not allow groups, including al qaeda, to use the soil of afghanistan to threaten security of the united states." shocker: the taliban lied to us. >> yes, they did. >> stephen: okay, how do you incentivize compliance to that kind of agreement, other than sending the flying steak knives, which we did? >> i think the key point here is president biden was right to end the war in afghanistan after decades. i think what this-- you can clap for that. ( applause ) to me, i don't think we ever trusted the taliban to live up to their commitments, nor should we. but what this operation snows my mind is you don't need 100,000 troops in countries all around the wo

hello. >> stephen: hi. >> great to be here. >> stephen: hi, b.j. novak. >> great to be here. >> stephen: so nice to see you again. i just discovered it's six years since you've been here. >> it's been a long time. >> stephen: it sure has. how you been? >> are we going to get to anything? is this just small talk. >> stephen: we're pushing the product eventually, but first the audience-- they have to get to know you. how about a kiss? >> and how are you? are you good? >> stephen: you didn't answer my question. how are you? >> i'm doing very well. >> stephen: yeah, me, too. >> yeah. >> stephen: we're even. ( laughter ) this conversation's going great! >> i'll tell you, though-- i'll tell you what this remind me of. i was on the set of "vengeance," which -- >> stephen: your film. >> my film. >> stephen: that opens tomorrow. it opens tomorrow, "vengeance." >> this is honestly a story that this reminds me of. >> stephen: okay. >> i show we're filming during the pandemic. it's my first time directing. it's a stressful, exciting experience. and i get to th

>> h>> stephen: los! >> stephen! >> stephi ou >> stephen: gh- you always sound good, but you've got a little extra zip in the horn section tonight. tell us who is joining the band this evening. >> we have jeffery miller on trombone, and the one and only alphonso horne on the horn. ( cheers and applause ) >> stephen: gentlemen, thanks for joining us again. good to see you again. my first guest served three terms as a congressman from texas, ran for senate in 2018, and president in 2020. now he's a candidate for governor of texas. please welcome back to "the late show," beto o'rourke! ( cheers and applause ) ( band playing ) beto o'rourke, everybody! >> thanks. thank you. >> stephen: good to see you again. there's a lot to talk about. let me just get right into the heat of the meat here. the january 6th committee held its fifth hearing today. some doubt going into this process about how informative it would be, how much they would be able to connect the dots, how interested people would be. what is your reaction to the

. >> i thought it was, like, uncle stephen. >> stephen: not grandpa stephen? go ahead, go for it. uncle stephen doesn't make me feel old enough. go ahead. >> grandpa stephen and his meat analogy. >> stephen: exactly, you know how he was attacked by a fish in the war. ( laughter ) >> it's good. we'll get to the point where they can say, can only one of them come to the award show? >> stephen: they didn't say anything about you talking about me at the emmys last year, you called me a messy bitch. >> we do have a problem. >> stephen: i said takes one to know one! ( laughter ) isn't it pun to pretend that we don't have a beef? >> yeah, it is. ( laughter ) >> stephen: now, you went to disney with your kids recently. i want to ask you about something. you tweeted for advice while you were at disney, which i think is a dangerous thing to do, which it lets people know mindy kaling is at disney and your legions of fans will hunt you down many tomorrow world, or whatever. >> yes. >> stephen: you said there's something wrong with this. i don't see it. >> there's a typo. >> stephen: going to

for a dog. >> stephen: wow. we also have other guest this evening, in case anybody is wondering. we have patton oswalt is going to be out here in a moment. and secretary of energy jennifer granholm is going to be out here. you >> stephen: y'know, folks. i spend most of my time, right over there, gathering for you the day's finest, most important news leather, cutting it into yokes with a skiving knife, fitting them to a sole with the most topical welt construction, then setting the stays into the heel and adding a burnished patina, all on a curved last, to present to you the exquisite bespoke berluti shoe that is my monologue. but sometimes i wake up near a tire fire outside of town, break into a mini van, cut up the seat cushions and strap them to my feet using the barbed wire i stole off an abandoned prison fence to make the janky hobo clog of news that is my segment: (/ music sting/ ) meanwhile! meanwhile, in new mexico, albuquerque has just erected statues of the two lead characters of the show breaking bad.

>> stephen: shake it up, baby. shake it up. >> stephen: hello, friends! hey, everybody! louis, you know what that is? you know what that is, louis? that's a thursday crowd. you can't fake that. ( applause ) that's authentic. welcome to "the late show." i am your host, stephen colbert. frawrl, happy, happy-- ( cheers and applause ) happy thursday to you all! the midterms are not until the fall, but recently we've seen some major primaries that will be determining who will be going head to head on november 8. case in point: pack your yuenglings, your cheesesteaks, and whatever gritty's made of, because we're heading down to the keystone state, where the governor's race is heating up between pennsylvania democratic attorney general josh shapiro-- seen here trapped in a grape-flavored escape room-- ( laughter ) and pennsylvania republican state senator and meatball asking, "hey, you gonna finish that meatball?" doug mastriano. josh shapiro is leading the polls, but mastriano is making headlines, mostly because-- without getting too technical-- he is banana-balls. ( laughter

. >> stephen: wow, wow. >> yeah. >> stephen: wow. >> in that order. >> stephen: folks we try to bring you the truth on the show night after night and the mainstream media is refusing to cover one major story. an international crisis brewing between the united states and canada. we just got back from a two-week break as i was saying, during which one of my canadian writer/producer, barry julien was up there for a visit, and he texted me this picture of a ben & jerry's ice cream flavor called "oh, cone-ada." that's kind of cute! kind of a cute name, isn't it? "oh, cone-ada?" i bet you're asking, "what's in it steve? well, maple syrup, poutine curds, and beaver teeth?" ( laughter ) that was my guess too, but no. no, apparently, "oh, cone-ada" is made of "vanilla ice cream with fudge-covered waffle cone pieces and caramel swirls!" ( audience reacts in anger ) does sound familiar to any of you? well, that's because those are the exact ingredients in my ice cream:" stephen colbert's ameri-cone dream!" ( audience boos ) what the canuck is going on? those socialist ice holes nationalized my f

>> audience: stephen! stephen! welcome, one and all, in here, out there, all around the world to "the late show." i am your host, stephen colbert. ( cheers and applause ) listen to that, listen to that. i just want to go out into the yudancy and hug all of you. ( applause ) i was hoping the feeling was mutual, but evidently, not. the big story today is all about tomorrow, because yesterday, five states held primaries, and i'll tell you all about that tonight. most alarming about the election is that the big winners include several election deniers backed by the former president. apparently, the majority of republican voters don't trust voting. so after they cast their ballots, they got multiple stickers: "i voted." "or did i?!" "sstic ( laughter ) ( applause ) now, when it comes to election denial, a lot of republicans just talk the talky if you want someone who walks the walk, look no further than arizona republican gubernatorial candidate and mom who's going to lead this p.t.a. meeting ♪ in soooooong! kari lake

( cheers and applause ) >> stephen: hey! ♪ ♪ ♪ ( cheers and applause ) welcome, welcome, ladies and gentlemen, one and all, to "the late show." i am your host, stephen colbert. and i-- ( cheers and applause ). you feel that? you feel that? that is raw, uncut, blue flake excitement because everybody knows tomorrow night, at long last, the public hearings on the january 6 insurrection will finally kick off. they'll be broadcast here on cbs, and afterward, "the late show" will be live! boom! ( applause ) so tomorrow night, tune in to watch me talk about what happened, when they were talking about what happened on the day we all said, "what the hell just happened?" ( laughter ) ( applause ) tomorrow night-- starting tomorrow-- for two weeks, right? it's two weeks of hearings, right? starting tomorrow and for two weeks of these public hearing,s this is a crucial opportunity for the american people to learn the full depth and breadth of the former president's months- long, violent conspiracy to overthrow a free election and

. >> stephen: i felt it. >> did you feel that. >> stephen: i need some visine. >>it's intense. >> stephen: we'll put the special effects in later, right, tom? >> you're not going to make us look ridiculous, are you, tom? right? >> stephen: i recently found out how you wind down when you're not on set, and i respect this enormously. you like to fish. and tell me-- tell me what's going on. >> what's going on there? it's just a little fish. >> stephen: have you fished your whole life? >> no, i only really started... sort of midway through when a friend of mine was wildly into it. we went surfing and fishing together. and he taught me how. that is a king fish, toughest fighting fish in the sea. that's actually a small one. i hear you fish, too. >> stephen: i do. i mean, i didn't know you were going to say that, so i had this printed up. that's me with that. look at that bad boy, right there. >> that's a decent fish. >> stephen: that's a spot tail, sometimes called a channel bass, but your fish is nice, too. i would love to take you fishing. >> i would love to take y

i am your host, stephen colbert. ladies and gentlemen-- ( cheers and applause ) we are coming to you just hours after the january 6th committee shocked the world with a hearing that can only be described as "coo-coo, awooga, psshhhh, wawawa, hatchi matchi!" and nobody, nobody saw this coming. they were scheduled to be in recess until the week of july 11. they hauled everybody back in from vacation! congressman bennie thompson was still wearing his floaties. ( laughter ) so why the urgency? the committee could not wait to share some hot new deets about what was going on in the white house on january 6, courtesy of former mark meadows top aide and future oscar-winning role for jennifer lawrence, cassidy hutchinson. now, we've seen hutchinson before in video testimony from last thursday's hearings, where she spilled the tea on the seditionist congressmen who asked for pardons. >> mr. gaetz and mr. brooks, i know both advocated for there to be a blanket pardon for members involved in that meeting. mr. gohmert asked for o

there you go. ( cheers and applause ) >> stephen: louis, happy monday. >> oh happy monday. >> stephen: as if i have to ask, who are we honored to have sitting with the band tonight. >> my goodness, honored is a good word for it because we have the incomparable, the ever creative individual st. vincent. ( cheers and applause ) >> stephen: thai so much for being here. >> thank you for having me. >> stephen: i have a question, you were born in tulsa, right? do you still have family there? >> i do in fact, yeah. >> stephen: how are they keeping cool in the heat because it is like a hundred degrees for like ten days down there? >> well... ( awkward silence ) ...i think there's air conditioning. >> stephen: oh. right, i forgot. i forgot. you just have to build tunnels from house-to-house like a habit trail and everything will be fine. thank you for being here. >> thank you for having me. >> stephen: st. vincent, everybody. (applause) now this is not this year but this is your most recent album is "daddy's home." released to universal acclaim, released to universal acclaim. now also tonight

we have stephen cotton. he's the general secretary of the international transport workers federation. pushpin singh is an economist at the center for economic and business research. and giles cunningham is the founder of the public relations agency trafalgar strategy and former head of press at the uk prime minister's office from 2015 to 2016. a very warm welcome to all of you. stephen, let's start by just discussing why all these strikes are happening right now. stephen: thanks, laura. i think when we've got an extraordinary situation. i think you mentioned in the presentation that transport workers, rail, dock workers, truck drivers all did their part through the covid period and now we're hit with enormous levels of inflation not seen for 40 years. and frankly people are extremely worried about meeting their bills and their commitments at a time where there's clearly a void of leadership in the politics in the uk and no ready solution. so all of the cases you mentioned are actually strikes voted on by the

stephen: i think it will be inflationary. the re-shoring is an outgrowth of geostrategic tensions between the united states and china. they can better be addressed through a structure like the when i outlined, lisa. make no mistake, this is very destabilizing. not just for the u.s. and inflation, but for china. china benefited from globalization. it has the most to lose as we now move from globalization to deglobalization. lisa: our larger issue for the economy, and we were hearing about this from ron temple. perhaps we will get down to a 3% inflation rate but not much below that. we are in a new paradigm. how much is china the main part of that if you have re-shoring and slower growth in china because of what you said? this will affect the world's second-biggest economy significantly. a slower growth and higher inflation environment for the longer-term. stephen: we debate how much china has held down he was inflation over the past 20 years. it has been significant, as has the rapid expansion of global value chains or global

stephen: good morning. [indiscernible] the timing and the extent of the peak in the value of the dollar -- our view is the peak in the dollar is going to come between one to three months as we lean towards the -- the peak will probably be closer to the one-month part of the curve, within one month rather than three months out. we just see in terms of the political risk, in terms of the hard economic risks in europe, we see a number of different factors potentially coming to a head. so risk aversion and the dollar -- the primary focal point right now for -- the dollar. dani: as you say, it peaks out perhaps over the next month or so but past that peak, i wonder how much desire there will be to move against the dollar. bloomberg has some data showing our most net short in about a year. the dollar rally gets -- how far can it fall from here? stephen: that is a fair point. we think it can fall gradually. there's probably cases to be made that the dollar doesn't fall that much against the major net importing cur

stephen: what do you think? regina: um, i think we would like to see hong kong bank headquartered in hong kong, definitely. david: i will ask you again on november. zero quarantine. a lot of people are asking that. i'm getting conversations from many people in the industry right now would like to know, is zero led goal? -- zero the goal? regina: it is a highly desirable goal, but everything has to depend on the scientific approach based on the data. and we have to brace for other eventualities. what if ba.4 or ba.5 became the mainstream virus? so we have to brace for that as well as the winter surge. david: it is quite mild for most. regina: if you are vaccinated. a lot have no symptoms, but we have to think about the old, infirm, and young children. david: and what is the government doing to further the vaccination there? because this is the same question we had during the fifth wave, and we are still here. regina: the government is doing home vaccination. through schools, parent teachers associations and all t

stephen stapczynski joins us now. our last guest was very scathing of the ability to break that link between premarket gas prices and electricity prices. the challenge is huge, isn't it? stephen: it's in our mess -- eno rmous. when you look at electricity markets, they are very complicated and they have been built over decades, and there is a merit order to how electricity is sold to the wholesale market. gas is expensive. gas buyer power generation is also expensive and that is why that dominates the market. there is the merit order. the most expensive electricity generation usually flows into that market. that is what utilities do and that is how the markets work not just in europe also in japan and all over the world. in the united states as well. to do that, they are changing the way these markets have been built and that won't be easy. one way through that could be putting a cap on gas prices that will then feed into the electricity market. that as well sort of slashes the purpose of the market and reduces the wa

rishaad: stephen engle there. let's look at any market reaction to this, seeing some movement on the hong kong dollar, not that much. >> i am in hotel quarantine right now so this is a big bonus for people like me. the hang seng picking up from the lows of the day. we are keeping an eye on cathay pacific, we are watching to see how it fares. other big retailers seeing a jump. cathay pacific jumping 2.7%. sjm holdings also moving higher. the hang seng as i said moving a little higher. picking up off the lows of the day, rather. we are still seeing weakness in the china session, in particular this morning. also let's look at broadly how the reopening trend has been performing over the year. take a look at our custom-made reopening basket. you can see it is still down on the year. still faring a little better than the hang seng and h-shares as well viewed -- as well. haslinda: as you said, the hsi hasn't moved much. you get the sense investors will only be excited if the quarantine is removed totally. annabelle: that

and like stephen prince, he also enjoys pheasant-hunting, travel, and fast cars. but that's where the similarities end. gingery opposes higher taxes, and disagrees with those who support them. >> if it really bothers those people that much, i would say, send a couple of extra zeroes in your tax check to the irs. and i guarantee you, not one of them has done so. they can say one thing, but then all their money's over here in switzerland or down in the islands. >> instead of taxpayer-funded social programs, he feels the rich should make charitable contributions, via donations and foundations that retain control over their money. president biden's plans to expand the welfare state? gingery calls that wishful socialistic thinking, and the wrong approach. >> so if you are staing out losing 30% or 40% of everything just because you are mismanaging it, or it is administration, or anything else, they need to really work on that. a job is ten times more effective than any government subsidy program. because there's wages, there's, you know, you become a taxpayer, you can d

. >> there is no gray in stephen miller's approach to this. he thought it was a good idea. one of my questions you can answer is because he still think it is a good idea -- does he think it is still a good idea? >> people quote him and are familiar with his thinking says that the harshest emigration policy was his most popular and successful accomplishment of the entire administration. he does still believe in separating families and really doing anything to seal the border, stopping at nothing to do that. he has even made clear to close confidantes and people familiar with where he is on these issues that is my work has been laid for the ada future trump administration or a future -- for the future trump administration or a future conservative administration that these policies can be pursued more quickly and more dramatically than they were in the past. he believes, he unequivocally knew this idea and exerted a pressure shamelessly. he would call not only kirstjen nielsen but all of her advisers and even lower people in dhs, people who had n

welcome to hardtalk, i'm stephen sackur. for six months now, ukraine has been a nation at war, the government and people united in a conviction that they are fighting for freedom. but in the face of the existential threat posed by putin's invasion, has ukraine stayed true to the democratic values it loudly proclaims? well, my guest is olga rudenko, the editor of the kyiv independent, a news organisation committed to reporting from ukraine without fear or favour. but is there room for independentjournalism on the ukrainian battlefield? olga rudenko in kyiv, welcome to hardtalk. well, stephen, thank you for having me. it's a great pleasure to have you on the show. just a short time ago, you reflected with time magazine on the impact of what is now a six—month—long war that you have lived through, you've experienced. you said, "none of us are the same people. we may look the same on the outside, but on the inside, we have changed." how have you changed? well... even as you were saying that, i was thinking about how true it

the brothers took this photo of stephen's kids moments before. nicholas shot in the right knee and ankle stephen in the left calf. >> i don't think i really felt anything it was i needed to get the kids out of there. >> reporter: doctors went to work >> we sort of fall back on what we now, and that's sort of to put calm amongst chaos. >> reporter: stephen at risk of losing his leg only cared about his family his wife also shot in the leg. >> i was like, you know, do you need pain medication he is like, yes, yes. >> reporter: for both brothers, emergency surgery and physical therapy. zoe recovering, too. amid the pain the family never forgot the strangers who saved them hospital staff who rarely see patients' victories. >> we don't often get to see folks walk out of the hospital. we see them when they're at their worst. >> today feels like a win? >> absolutely. a huge win. >> reporter: maggie vespa, nbc news, lake forest, illinois. >>> and that's "nightly news" for this thursday. thank you for watching, everyone i'm lester holt. please take care o

it is a good question, stephen. there has been no response from the president's office to this story, which i think is not ideal, given that this was the project that president zelensky championed. and there has been no public response from the people in charge of this who reached out to us and said that they want to get their side in the story, which they didn't before. and we're talking to them about a full story that would present their side, too. and i wouldn't say that there is an atmosphere of pressure onjournalists in ukraine now. at the same time, we are — because we are ukrainian journalists and we, you know, have a history of fighting for our profession, having to fight for our profession, for being able to do what we do in the past, you know, going to protests and fighting attempts to censor us — because of that, we are always on alarm, in that regard. you draw a direct comparison with the russian media, and you say, "we are nothing like russia. we're not a propaganda machine. we don't automatically s

stephen were should a -- stephen causing a massive macro view including gdp in america. steve, when you talk to dominique, are we in recession? steve: i would not classify it a recession. to me, two quarters of consecutive negative gdp reports implies your any recession. the problem for people is going to be this is a very shallow, very long recession. it is not going to be the typical recession environment that we have seen since 1990. viewers are going to be the typical inflation cycle that we experience. it is a very different cycle, a long shadow. tom: this has been the scene for the day. if you have --, does that mean the real message from jackson hole will be a more sustained view of interest rates strategy, and not the full dish miss of when the rates come down? steve: that has exactly been our call, but we are basically looking at dynamics. the question we are still debating is 4% were something north of 4%. i think we have to get to at least 4%. we were pricing 3.5, now we are pricing something in between. i think we will get to the 4% and hopefully that will be

stephen: there is consensus around where solutions lie. a lot of people are looking to immigration as a fix to this, and there is no doubt that scaled immigration is going to need to ba art of the solution. -- need to be a part of the solution. we also need to look at our own participation rates and skill base and see what we can do to be lifting up our existing skills based to be sure we are training kids going through school and making sure we have the right education pathways. yes, immigration is part of the solution, but enhancing scale capacity and -- skill capacity and skill-based, young australians and australians needing to retrain for a changed career has got to be part of the solution. that is a sustainable solution. juliette: great to have you in singapore, stephen jones australian minister for financial matters. shery: if you want to hear more from the big newsmakers, tune in to bloomberg radio, getting that analysis from our daybreak team broadcasting live in hong kong. go to radio.com. plenty more ahead, stay with us. ♪ >>

let's bring in stephen engle. it has been more than a week since speaker pelosi's visit but the fallout continues. stephen: reverberations are still being felt. relations between china and the u.s. were fraught to begin with. nancy pelosi's visit mid last week obviously complicating things. divided agenda is still trying to figure out over all if the china policy, at least, how to communicate its china policy. he has the mastic issues to be concerned with. also, kind of, moving on from the trump era hardline two. is that is indeed what it will do. gina raimondo, the commerce secretary, spoke to bloomberg news. she had this not too surprising answer about whether it is heard the dialogue between china and the u.s.. >> it has certainly made it a little more challenging. at this moment. it is harder. but, i am hopeful that we will get beyond that back to a place where we can have more of these discussions. stephen: on the issue of potentially removing or altering the trump era terrorists, gina raimondo said mr. biden

rishaad: joining us is stephen engle. you look at purchasing managers, you delve into the components, what were your main takeaways? chang: the main takeaway is the chinese economy is losing recovery momentum after a short rebound. looking into the details, you can see the weakness all around. at this point, the external demand is holding up slightly better, but we know this is not something you can count on. we have seen increasing signs of the global economy growing. contraction is holding up well, so that is suggesting the government is -- the government on its own is not able to lift the economy out entirely. juliette: we are seeing a big drop coming through in the china developer shares, there is more bad news. stephen: we should not be surprised by this. they were hinting that the plan they has promised, they did not come through. they put out a statement, putting preliminary debt restructuring principles out there, but there was no details, no plan. investors wanted to hear details on possible debt extensions, asse

stephen, thank you. let's talk to _ the future. stephen, thank you. let's talk to gary _ the future. stephen, thank you. let's talk to gary o'donoghue. l the future. stephen, thank you. - let's talk to gary o'donoghue. what let's talk to gary 0'donoghue. what is the sense in washington about what this has all done? the is the sense in washington about what this has all done?— what this has all done? the joe biden administration _ what this has all done? the joe biden administration were - what this has all done? the joe biden administration were notl what this has all done? the joe - biden administration were not keen on nancy— biden administration were not keen on nancy pelosi going in the first place _ on nancy pelosi going in the first place. they cannot stand in her way and did _ place. they cannot stand in her way and did not— place. they cannot stand in her way and did not stand in her way but they— and did not stand in her way but they made — and did not stand in her way but they made their own ease about it pretty— they made their

thanks, stephen. you have been a campaigner and writer on environmental issues for decades, warning about the toxic relationship between human beings and our planet. i just wonder how you prioritise? how do you decide where to focus? mm, it's very hard. i mean, every week when i'm writing a column for the guardian, for instance, or making a video, i have a choice of about 20 different topics that i could latch onto. it's very frightening. i mean, to be environmentally aware, to have an environmental education is, as the great writer aldo leopold put it, to live in a world of wounds. you're surrounded by grief, you're surrounded by the pain of what you're seeing, and surrounded by fear, also. i mean, it's not easy to see how we're going to get through this century, let alone those that follow. your latest book, regenesis, essentially describes the way we produce food around the world as perhaps the single most damaging thing we are doing to the natural world. and yet we all need to eat. mm—hm. and th

stephen: absolutely. the property/banking sector is the most exposed industry to the property sector. that's going to be a big challenge going forward. you've seen the big banks being roped in to help support stabilize the economy. that will cut down the net interest margins. the capital constraints adjust as they are being asked, strong-armed for an economy that does not want to borrow. especially to the property sector. three of the big four reported yesterday, the top of the pyramid, net income up 4.9% seems to be ok. property, nonperforming loans up 5.47%. the bank of china, net income up. china construction bank up 5.4%. the industry nonperforming loans rose to a record 2.5 trillion yuan. exposure to the property sector is more than any other industry. 39 trillion yuan, plus 12 trillion yuan in loans to developers. the bank of china, the most exposed bank to the property sector with 38% of its total loan growth in the real estate sector. there will be pressure on the big state banks and others as wel

have a great weekend, stephen miller's. >> stephen: thanks. you, too. >> jesse: spitting mad over ukraine. they banded together and made sure lots of money went over there to stop putin's power grab. 's invasion. when biden's crooked attorney general invades the former president's house and abuses his power, i don't hear much. have you? you think republicans would be on every tv channel saying how outraged. no. a lot of them are on vacation. we have had some on this week but it has not been a lot. when are we going to hear anything from these guys? the founder of america majority and he joins me now. you talk about these guys are for limited government. in the air against the abuse of federal power. they are for personal privacy, private property, and to protect the authority of the commander-in-chief as the executive of the country? hello? has anybody heard anything from anybody on the republican party about this raid? >> the left banks on getting away from their abuse of power because as a feckless gop. i was stunned. i found it repulsive th

stephen: they are not. cindy is right, they are concerned nancy pelosi is second in line after the president and vice president, then the speaker of the house. it is a high-profile visit and comes at a sensitive time politically for beijing ahead of the party congress in october or november. xi jinping also needs to show a strong hand to his domestic audience in china. it is a game of high-stakes poker and the threats have been coming fast and furious from the ministry of foreign affairs spokesperson and other people as well, there was allusion of the possibility of military action and that's what we have to be on the lookout for. the markets are a bit concerned, we sell the taiwan dollar, as you mentioned, going weaker. we see the yen becoming a safe haven again, going to 130 today after it was recently going toward 140. there is concern. this is not just a geopolitical story, it is a market story as well potentially, as a pelosi will sneak in, we hear, under the cover of night, about 10:20 this evening if

let's get to our energy reporter stephen. i'm much more taken by the narrative that gas storage is filling up quite quickly in germany, how important is that? >> it is important that they are filling up the gas. they are at the level that they wanted to be at the beginning of october. they want to be 95% by november, they are at 81% now. no doubt that will help in the winter. but they are filling that just because they are still getting some supply from russia via nord stream 1 which is still flowing at 20%. it will fall to 0% at the end of the month for planned maintenance. and there is no guarantee it will come back. there have been studies that have said we won't be able to get through winter even with that. you still need russians applied to kind of top up -- supply to top up every day. without that russians apply, if russia isn't pumping a little bit through the winter, the cost of gas rationing and the hit to the economy is much higher. dani: stephen stapczynski, thanks for joining us. we will talk more about these mark

haidi: stephen engle. moving onto -- suing qualcomm for breach of contract and trademark infringement. the pay legal showdown. let's bring in carl -- paula. what a cooperative position for these companies to be in. >> as i see it now, qualcomm is clearly diversifying a lot. they want to get away from the phone business. when they purchased new via, that is what gave them the arm technology in the first place. -- rent the ip from arm, which is owned by softbank. qualcomm had to know that this would be an issue. i feel that they are going to move forward aggressively in this space. i expect they anticipated it. and that it is just going to play out in the courts. similar to qualcomm's battle with apple. >> we saw nvidia declining after these new rules of its business should have a pretty big impact on sales and growth. what is the assessment of what is going to happen there? paula? >> i'm sorry. could you repeat the question? >> we are wondering about nvidia. >> the outlook for nvidia. the stock also trickle

let roy, let's just let just pick up that stephen thing. people are scared. this is an unprecedented moment. does when the government and all this was the leadership was embarrassed. johnson, the prime minister on his 2nd holiday of the summer, he seems to have signed off and just passed on all of this to whoever takes over. that's not happening until september the 5th. i think a lot of damage potentially done between now and then. not seeing any policies announced by the to prospective candidates. do you feel that there is a, would you agree? there is a lack of leadership. i think your why there is a dangerous sorry, sam, problem facing johnston because he's going to be a problem. it's not more responsible to be taking decisions rich. the next a sense of trying to defer things off. but sure. we've got a situation where you could start moving at breakneck speed. it is a danger work. now, let's work on the assumption that is supposed to, right. we're going to have this trust premise, or some of that she's going to need to get to grips to very quickly because i

stephen: like alibaba. nicolas: which is an interesting development of not only companies who want to be listed but primarily listed in hong kong, which is a great development for our market. stephen: what about the homecomings? alibaba is somewhat of a homecoming because they have a second primary listing here in hong kong, but we are seeing these increased potentially in the united states, whether it is the state owned enterprises or the tech companies that have run afoul of revelatory scrutiny in the united states and china. are you actively, actively, putting a plan together to pursue these companies to come here? nicolas: we are always looking to attract new companies. stephen: that is your job, i know. nicolas: at the same time, you have heard me say many times that i want companies to have an option to live anywhere in the world -- list anywhere in the world. the resting for markets overall is to make sure companies have an option and they can list, whether it is here, europe, the u.s., and we want t

stephen: yes i know. we had lockdowns in shanghai and elsewhere so exporters had pent up demand to get stuff out the door and to clients around the world but there is weaker global demand and weaker domestic consumption in china so we are seeing the trade surplus rise to a record because exports rose more than expected, 18% in july. but there is pent up demand. bloomberg economics feels that will taper off and we will see smaller export growth over the year. the real story when you look at trade surplus is yes there is temporary export strength but the import side of the equation is fairly week. property sector, threat of flareups, covid, overall week domestic demand is weighing down imports. if exports go up and imports do not meet expectations you will have a record trade plus -- surplus. exports are expected to slow over the rest of the year, leaving the economy more vulnerable in precious from the property sector and covid flareups. so a good shot in the arm for a withering chinese economy, but will i