joe biden and kevin mccarthy have still not reached a deal that would break the stalemate over the debt limit. tonight, they did meet one-on-one in the oval office hours after the treasury secretary janet yellen issued a another stark warning. yellen says it is quote, highly likely the treasury will no longer be able to satisfy all of the governments obligations if there is no resolution by june 1st. meaning, we cannot pay our bills, even though they was some agreement, kevin mccarthy says the sides are going to keep talking. i think the productive part was who was in the room, narrowing what we re talking about, we re not talking over each other we re not saying, oh let s bring something new into the discussion, let s not oval raising taxes that s been off for a long time. we literally talked about where we are having disagreements and ideas, so to me that is productive, not progress but productive. so we re asking the staff to get back to run through those ideas to see if
house. the country is now just ten days out from a potentially historic default on its debt. joe biden and kevin mccarthy is still not reached a deal that would break this over the debt limit. tonight, they did meet one-on-one in the oval office, hours after the treasury secretary janet yellen issued a another stark warning. yellen says it is, quote, highly likely the treasury were no longer be able to satisfy all the governments obligations if there is no resolution by june 1st, meaning we cannot pay our bills. even though there is still no agreement, kevin mccarthy says the sides are going to keep talking. i think the productive part was who was in the room, narrowing what we re talking. we re not talking over each other. we re not saying, oh, let s bring something new into the discussion, let s not talk about raising taxes. that s been off for a long time. we literally talked about where we re having disagreements and ideas. so, to me, that s productive, not progress,
Jeremy corbyn has been campaigning in scotland. He said a Labour Government would repeal the conservatives trade union legislation. Now on bbc news, all the latest business news, live from singapore. China stocks taking a nosedive as Regulators Crackdown and investors lose confidence. And will south koreas giant family Family Run Companies change the elections . Ahead of the. It is a tuesday. Good morning asia, hello world. Glad you could join us for Asia Business report. I rico hizon. We start off with chinese investors and they are closely watching their portfolios today after the worst day of trading this year. As you can see right here on our graphic board, stocks on the shanghai stock market have been on a downward spiral over the past two weeks. So what is causing the loss of confidence . Regulators are cracking down on speculative trading and underlying concerns that the economy is slowing, weakening investors enthusiasm. We get more from our shanghai corresponded. The shanghai
against being sent into what they called, sort, of the unregulated cesspool of america. this privacy waste land that were in here. that s why they got in trouble, because they lead the data to get. here it s a combination of just how unregulated it is, here in the united states. but isn t that laughable? because one thing that lawmakers here, would be humiliated, and the market might, think oh my, gosh you are going to see u.s. regulators crackdown, change the, roads because they are so embarrassed. , but no, the market is, like ain t nothing going to happen here. they spoke lobbyist, they run the show. it really feels like only, us in the, sense in the world of a.i. that we re in right now, there s generative a.i., this moment where, in thinking about social media and it still feels like ten years ago now. that s how fast tech is moving at this point. all right, let s talk tiktok. on friday, it was all the news that the state of montana was banning tiktok across the state. now,
lawmakers he will be enolates. so the market might think, oh, my gosh, you are gonna see u.s. regulators crackdown, change the rules, because they are so embarrassed. but no, the markets, like, oh, ain t nothing going to happen there. facebook lobbyists, they run the show. feels like old news in a sense. in this world of a.i., generative a.i. moment, thinking about social media and its ills feels like, you know, ten years ago now. that s how fast tech is moving at this moment. let s talk tiktok. on friday, it was all the news that the state of montana was banning tiktok across the state. now, tiktok is suing the state, saying you are violating our first amendment rights. that s right. on friday, we saw these five tiktok creators sue for a violation of first amendment rights. and we knew, just assumed that tiktok would join the fray. and of course, they have now. they filed suit. and what they argued is this is a first amendment violation. the truth is, when you look at it, it is