First time in 15 months. Is the latest bitcoin bump here to stay or just another bubble . The clock is ticking on President Trumps next round of china tariffs. A proposed new wave of tariffs set to go into effect as early as next month end half of those and half of the 300 billion of targeted goods are tech related. A new article details how chinas Tech Industry is mostly insulated but there is one area where it is still dependent, very dependent. The semiconductor chip. Over the last decadeplus, china has seen a surge of chip imports that surpasses 300 billion. To further breakdown the effects on tech in both countries, we have bloomberg techs ian king, who covers the chip industry and the coauthor of the aforementioned article. Also with us, global Senior Editor brad stone. Chinas greatest reliance is on semiconductors. How so . Ian esoteric parts like broadcoms switch chip, more common parts like an intel microprocessor, china really cant replicate those yet. They have been trying f
We will take you inside the group that makes decisions. Is the latest bitcoin bump here to stay or just another bubble . The clock is ticking on President Trumps next round of china tariffs. A proposed new wave of tariffs set to go into effect as early as next month end half of those 300 million of targeted goods are tech related. A new article details how chinas Tech Industry is mostly insulated but there is one area where it is still dependent, very dependent. The semiconductor chip. Chinahe last decadeplus, has seen a surge of semiconductor import. We have bloomberg techs ian king, who covers the chip industry and the cooffer of the the coauthor of the fermented article. And we have brad stone. Ian a satiric parts like broadcoms switch chip, more common parts like an intel microprocessor, china really cant replicate those yet. Emily why not . Ian it is difficult. When you are arranging tens of billions of transistors on something the size of a postage stamp, you have to kind of know
Welcome. You are watching the polls live from Bloomberg European Head Quarters in london. I am guy johnson. We have a great lineup and we will be speaking exclusively to the finance minister. And the outlook and personalities behind the parties for the most famous spin doctor tony blair, a former campaign manager. The head of hsbc will be questioned over the tax evasion scandal. The lastminute decision by the treasury select came off of the emergence that he had held a Swiss Bank Account by a panamanian company. That starts at 2 15 london time and they will answer questions about tax avoidance and if the institution is too big to manage. Lets go to anna edwards on what we can expect from the treasury committee. Have we mentioned it is an Election Year . The most senior bankers are going in front of the u. K. Treasury select committee and politicians get a chance to grill the executives about what the bank was doing and how they change things since then. The bank says they are sorry for
New economic policies are just a starting point. Alexis tsipras got praise for a fourmonth extension of the bailouts, but the central bank and others say actions speak louder than words. The head of the euro finance minister groups says greece has a turn those actions into those words into actions. It has to be happening in the next weeks or months, then there might be new money available. The question is what should we do with what has not been decided yet . Olivia imf chief Christine Lagarde says the greek proposals do not offer assurances of those reforms will happen. Brendan ukraine has shifted to a diplomatic front. Paris russia, ukraine clash over who is violating the ceasefire. The government says overnight rebels attacked Government Troops in the area near the port of mariupol. The veteran who killed chris kyle has been found guilty of murder. A jury rejected Eddie Ray Rouths insanity plea. The judge has sentenced routh to life in prison without parole. Kyle was a former navy s
Later today, the focus is on Powell’s testimony before the House Financial Services Panel. He can do no other but defend to last week’s hawkish ‘skip’, including the dots showing the MPC preference for two additional rate hikes (peak seen at 5.5%/5.75%). Money markets post-Fed remain very cautious to discount further hikes beyond July. We doubt the Fed-chair will be able to change this wait-and-see bias today. This morning, UK inflation (May) again printed higher than expected. Headline inflation rose 0.7% M/M leaving the Y/Y measure at 8.7%. Core inflation even accelerated further to 7.1% from 6.8%. Sterling gains modestly after the data (EUR/GBP 0.854).