shall also make efforts to encourage sme activities and promote overseas. if it was economized, and transportation cost can be expected to decline. however, to say that one side is the trade surplus, the other side is suffering negative impact. the way of thinking would not do. after the start of this century, many emerging and and developing economies have a seated to the entered the wto. however, in some of the states, enforceable demand to domestic entities lack of discipline over state-owned enterprises no compliance even if it's established, these sort of deficiencies continue to be observed. the move to protect intellectual property's need to be further strengthened for the very reason innovationecause across the border you need right now, the tpp has been packaged in the form to respond to these concerns. therefore, there has been no change in my conviction that tpp is necessary in the asia-pacific . thehe end of this week, signatories to the tpp 11 meeting will be convened. i look forward to advances in the discussion. the discussion, with regard to

how does this all breakdown. >> i want to pick up on the smes. is an index showing confidence waning, standard indexred confidence heading for a second consecutive month of declines. smes isccess for tougher, funding costs have get the pmi you number tomorrow. 51.2 is slightly better than expected. instead of peaking, maybe we have plateaued, for one month at least. , again, theeak , they areng campaign tackling the risks in the economy while the economy has stabilized. , we hadlem in april output subindex new orders export orders, also in. is the future indicated? >> new export orders going these havel declines. let's change the pains to nonmanufacturing. again, we were expecting moderation there because not only is it services them about banking and construction. construction is what has been holding this economy up. rishaad: fiscal stimulus you could argue. >> the construction index rose to 61.6 in april, while services fell to 52.6. that's the story, isn't it? thank you, steve. steve will have a more detailed look later. 26 minutes away from

we shall also make efforts to sme activities overseas. if it was economized, and transportation cost can be expected to decline. to say that one side has a trade surplus, that way of thinking would not do. after the start of this century, many emerging developing economies have acceeded to the wto. however, in some of the states, enforceable demand to domestic entities lack of discipline over state-owned enterprises no compliance even if it's established, these sort of deficiencies continue to be observed. they need to be further protect intellectual property need to be strengthened for the reason that just because across the border you need right now, the tpp has been packaged in the form to respond to these concerns. therefore, there has been no change in my conviction that it's necessary at asia spask at the end of this week, there are signatories tpp 11 will be convened. i look forward to advances in the discussion. vice president pence and deputy prime minister held the first japan-u.s. economic dialogue and agreed to continue the co

sme fumes from the volero refinery causing evacuations. i'm kenny choi. >> i'm michelle griego. let's get to jackie ward live in benicia with the evacuations. >> reporter: we are live in front of the benicia public library. that is less than three miles away from the refinery. and we are up wind. that is why people here are not concerned with the air quality. that is why the doors behind me are wide open. happening now. benicia fire department and city officials are meeting with the media to update them and what we know so far is that the contra costa county hazmat team has not found any issue in the air quality. so that is good news. also, the evacuation and shelter in place orders have been lifted. huge flames and massive dark plumes of smoke poured from the stacks of the valero refinery. yet, benicia resident raymond olsen is remaining calm. >> sunrise, heard the whistle and it triggered the shelter in place. i looked outside, saw black smoke. >> reporter: pg&e says the outage happened at 6:40 this morning. it only lasted 18 minutes. but, hours later, the flames and smoke con

. >> when you get off the plane, what's the first recognizable sme smell? >> the river. >> for the first time i heard of laos, i was hooked and filled with a desire to see the place. once a storybook kingdom of misty mountains and opium, a a protector of france, a landlock nation board bid china, thailand, kom bode ya and as fate would have it, vietnam. >> chef james burned his star in san francisco. >> this is the first thing i do off the plane. >> he learned to cook from his mother and never looked back. until recently. >> clies slooised pork. >> james family fled the fighting that followed it. nowadays things are looking up, and some like james, are returning. >> it takes me to a a place. >> what's it like being back? what's it like? >> it's like home. i totally get it. she say i want to go back to a relaxed life. >> is she happy? >> she's super happy. she looks a lot younger now after she moved back. >> stress, i guess. >> this village. >> rice farming? >> rice and growing some vegetable. >> northern laos, enchantingly beautiful, sparsely populated by r

a lot of smes are suffering, suppliers of the big chaebol, they don't really see growth happening. a word on north korea, we can't talk about the south without concern for the north, what effect could not have? we see moon jae—in wanting to re—engage with the north. we think they could rekindle the sunshine policy, and to the regime. that is one we will all watch closely. really nice to see you. let's take a look at some of the other stories making the news. toshiba has told its memory chip partner western digital not to interfere with the sale of its chip unit. western digital claims that the japanese firm has breached a contract between the two by transferring rights it doesn t own into the chip unit it's selling. toshiba says it will use all available remedies if western digital continues to pursue the complaint a woman who alleges she was sexually harassed at fox news has asked uk media regulators to block 21st century fox's planned purchase of sky. 0fcom is examining the bid for the uk broadcaster, which is worth around $15 billion. dr wendy walsh's legal team says the dea

whether they be large enterprises or sme's, businesses have supported nation building in the asian economies and in europe and the u.s. they have expanded their businesses while continuing to contribute to job creation. just two weeks ago, we have announced a contribution of $40 million to the new adb. this is for the initiative to introduce advanced technologies in the areas of environment, and transportation infrastructure. in order to develop quality infrastructure, the $200 billion of contribution that have been announced previously will be activated within this year. i am the prime minister of japan. therefore, for me, it is japan first. however -- however, be careful. listen to me. however -- this japan, i mean, is a japan that coexists and advances side by side with global prosperity and peace. since last year, a series of general elections and referendums have taken place in many countries, giving birth to new leaders. in g7 alone, this happened in the uk, u.s., italy, and france. last week, we saw it in our neighbor, south korea. it was a year where the attention of world was glued

resources and surrounded by the ocean, we started early to be proactive overseas whether they be into smes, businesses have supported nation building in the asian economies and in europe and the u.s. they have expanded their businesses right after continuing to contribute to job creation. just two weeks ago, we have announced a contribution of $40 million to the new ade. this is the initiative to introduce advanced technologies in the areas of environmental transportation and infrastructure. in order to development quality infrastructure, the $200 billion of contribution that have been announced previously will be activated within this year. i am the prime minister of japan, therefore, for me, it is japan first. however -- however, be careful. listen to me. listen to me. however the japan, i mean, is a japan that coexist and site by site with global prosperity and peace, since last year a series of general election and referendums have taken place in many countries giving birth to new leaders. in g 7 alone this happens in the uk, u.s., italy and france. last week, we saw it in south korea.

our expansion of smes has not been made into sensible data. at the spring meetings of the the goal of this government under the leadership .as 7% to achieve a year on high. growth would mean the main focus. 2013, pakistan was known as a unstable macro economy. we have turned around. tracey: yes or no from the 80 be -- adb? twohere is a merger of the lines of the adb. one mission is to access more infrastructure and development needs. 2017, -- >> i want to get back to a discussion that my colleague in hong kong mentioned. you did not extend the central bank governors term? what are the plans for the job? with inflation rising -- a 60% ratio.ave in the last three years it has been single digits. around6 percen -- around 6%. this year is going to be 4%. it has been given under the law and the responsibility is three months. within three months, either we beoint somebody or they can anyone else. the prime minister will decide who will be next. anybody can be appointed. him?uld you favor popular fornot be me to make any comments. --oubt whether he

the small companies, small smes that produced the jobs, really art hitting the support they need. -- are not getting the support they need. macron erupts, onto the world stage. the bromance between macron and trudeau. i think it's rather inspiring to see two young, smart, whatever their politics, they are young and smart and switched on with the next generation. in terms of the perspective for the world. >> i think that's very true. i hope france gets behind macron and allows him to deliver on the promises he's made. hopefully he doesn't get marred down by the existing party line and means he has to compromise on those election promises. it would even refreshing to see change coming through. andrew sullivan, national stage with the daybreak show. some highlights for your daybreak ahead. we've got markets closed today in the u.s., u.k., and china. we have a race decision in preserve -- in brazil. we write off the week with the u.k. theresa may and germany corbyn facing audience questions on bbc television. we -- as close as we have ever been. that's what john williams said, nearing ou

i think the provisions on the sme sector was something that we were monitoring fairy closely. it was on the rise. the first quarter results i the bank came to our surprise. they came a lot better than we expected. that is why a gave us the comfort that the problem is gone, or provisioning might not be there and it is well contained. now that banks can focus on other parts of the business, that is where we see potential growth in banks. shery: let's talk about qatar. it has a relatively high disposable income. you would think it would be a positive for the retail sect or. -- sect or. -- sector. ali: we remain selective in qatar, in relation of high disposable income. we continue to still like some of the banks, but not all of them. the reason why we are under did's -- thear, trade in the first quarter poses some predict will money flow. there is always weakness. we are trying to avoid that we can -- weakness and that justifies part of the underweight. overall, i think qatar, in terms of theon, in terms vision translating into earnings growth, i think we are still far away from

. >> as one of china's leading auto companies, the biggest challenge for ba i see are the sme reforms. the chinese government has put reform high on the agenda, and the time is oppressing. as the chairman, my biggest pressure comes mostly from this front. about the 50-50 joint venture agreement, i think the policy will get changed. it will get scrapped for sure. the door will be opened for sure. is not a huge challenge. maybe a few years ago, it would have been a big the faculty because at that time, china's homegrown brands were in their infancy. in light of the fast growth of the home auto brands, lifting the restrictions on the 50-50 joint venture will not be a threat for us. reporter: what do you have to do to stay ahead of planned or proposed or profitable changes to the ownership structure of joint ventures? do you have to be number one at autonomous driving vehicles? what needs to be the priority is the --50 our fee across fiat chrysler? what do you have to do if the landscape is changing. >> we encounter what is great with our strengths, leading technology is our trump card. t

spial ord ur and we are dighted to kick off ts sson, which is abuthexaordiny revelations this wee, and sme breath takingdeloents in washngton with atatement by r distinguished colleae from xas, sheila jks lee. so i woulyild now for a much time asheig csume to cgrswanhea jacson lee. ms. jacks lee: thankth distingshed gentleman fm maryland ndheistingsh ntlelady from washingto just by coincidence, mr. speaker, all threofusre members ofheudiciary committeend hader vigorous cstutnal discussion isorngn a hearing on the responsibits of the judiciary committee and wl he respsibilities of this cgrs to tamerican oe. think many ofsffedur mmtsn e context ate dino speak as aemrat or republa tugh weare hee oths oor as mbs of e cngressnal progresse cauc. we really spo t our views d commitment as a arians having sved ith houseor a period o te whe ie en the judiciy cmitte engage vigorously in imachme proceedings fo judgesanredts, know that thro oth judia committee ito be assured that th governme, the executive the listu, t diary, rwithinhe ctext of t nstitution d tt t spirit and eosioofhich ii his evin, sh

so that hopefully gives some incentives for the big companies and the smes to come here and help with the transformation process, creating a win-win situation whereby they create revenues and profits as well. >> a lot of momentum in terms of the business conversation. in terms of the regional threats to stability. iran is on everyone's mind as they go through the election process. and as a strategic partner, saudi arabia is hoping the u.s. will take a firmer hand in syria and yemen. talk to us about the greatest threat to regional stability, is it iran or the price of oil? >> the price of oil is being fixed. there's a plan to diversify the economy. we're looking at new resources, new sources of revenue. the best time to reform is when your back is against the wall. the only good thing that came out of the crisis that created the oil prices has created is that it forced and fast tracked reforms which we've been hearing about for 20 years. i would go with iran. if you look at most of the regional problems, you look at syria, there's iranian fingerprint there's by supporting assad. you l

carnival cruise line with a big enough to have two cruise ships docked at the sme time. >> this weekend mart at the national cathedral. the free event to raise money for the gardens grounds of the cathedral. d.c.'s mayor is expected to attend. the event starts on friday. and they have the cathedral climb which i think is really cool which is one of the few times you can go all the way up on the cathedral. >> national weather day t mike thomas you're taking part that of at nats park. >> we should have great weather for it. looking forward to that. we're going to have a whole bunch of schools coming out, we'll do a whole weather talk we got screech getting involved in always a great time. >> how many times students. >> i don't know. it varies near '82er to year depending on testing. i think some schools have trouble because of testing. it's always a good crowd. >> yeah. >> even folks that have tickets to the game can come early and watch the presentation if we want to just know its geared towards the kids. we're looking forward to it. should be a good day for it. starting off on the chill

take up, the interbank money markets, yields taking up, that is starting to filter down to smes who pay more to borrow. sales managers come a diverse picture with sales managers involved in the manufacturing side of the economy are more bearish, those and services are more positive. in terms of bright spots for china's economy, we are seeing pretty healthy prices around real estate despite the curbs that have been put in place. chineseimportant consumer remains relatively positive for now, and then of course you have factory gate information that was so we can 2014-2015, started to pick up in 2016, those numbers still strong and that helps profits. wewill get a clear idea when get manufacturing pmi data on wednesday and nonmanufacturing pmi, that will give us a clear indication of where we are going from here in terms of china's economy and whether or not we will see a continued slowdown. >> thank you so much. tom mackenzie in beijing. we have been speaking about the fed speakers that we will be watching for. jamese one in particular, bullard, the head of the st. louis fed, yes, he will

well, when you run an sme, you do not try to exploit people. people have to be happy in their company. they need to job security as well. that is important as well but what is very dangerous in france is that the level of social benefits is much too high. it is perhaps due to the fact that the expenses of the country are much too high. when you hire someone for 100, you have to pay 50 social benefits and tax refund whatever, and that person has today 20. that is to say it costs the company 150 and the person will get less than 18. so that is something that has to be changed quickly. -- less than 18. you think the balance has to be more in the favour of the employer? not only that, on the national scale, we spend too much money. in the very brief last answer that we have with you, however domestic worker emanuel mccrum can reform these sorts of regulation? i am a strong advocate of thinking positively, so i hope that he will listen to us and that there will be more dialogue and cooperation between the administration and ourselves. thank you very

short-term perspective, the government is targeting specific elements of leverage and the economy, sme banks etc., so we think the current policy impetus will be controlled and is not targeting inflation or efforts that will impact the overall economy in our view. from a longer-term perspective, the concern still has to be front and center. how long will rising corporate profitability overshadow or give them the ability to carry this leverage longer than some market participants have thought? eventually you have to drive structural reforms in the over all economy, labor mobility, etc. haidi: talk to me quickly about your call on tech and how that is informing your overall view on e.m. it is particularly relevant to the conversation on china, which is one of the most under held markets. one of the things that surprises some people is that the china do read about in the wall street journal is different than the china that exists in the stock market. most journalists or wall street articles will talk about the smokestack industry country, when over 50% of the index is tech and financials.

i propose to create jobs for self-employed people, smes, and large companies. >> translator: we would like to hear your suggestions on something very important to the french people. the working week. it seems like neither of you in your political platform have decided to change the 35-hour working week. mrs. le pen, you're okay with that 35 hours? >> translator: well, i want negotiations to happen by sector. mr. macron wants negotiations to take place by company. >> translator: it's fratricidal because of course negotiation by company is to pit companies one against the other. you're going to take unfair national competition, whereas suffering unfair international competition. you though full well in the sectors there will be the large companies that of course will be able to adjust the working time but not the small companies. so obviously they'll go under. that's your plan. the big eat the small. it's the law of the fittest or the strongest. i'm opposed to that, if negotiations happen, they have to be by sector and not by company. i know for that matter that mr. macron wants to have