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president xi jinping is overhauling china s military to upgrade its sea and air capabilities. the plan includes a cut of about 300,000 personnel. officials in south korea say they plan to use greater force, including weaponry, to crack down on chinese boats fishing illegally in the country s waters. a coast guard vessel sank off the korean coast last week after one of a dozen chinese fishing boats rammed it, the latest in repeated clashes between the two sides as chinese fishermen continue to operate illegally in the area. translator: we will ease regulations on the coast guard s use of weapons in case of danger. the foreign ministry in seoul summoned chinese ambassador on tuesday and demanded that beijing deal with the matter and punish the fishermen. officials in beijing say they re looking into the situation. translator: we call on south korea to deal with the matter in a calm, reasonable way, taking a broad view of bilateral relations. bilateral relati ....
areas of land in syria and iraq. 2015 saw it lose some of this territory. and the retreat has continued this year, too. but there s been no let-up in the group s violence. in iraq alone, 7,000 people lost 7500 people lost their lives in terror attacks last year, more than in any other country worldwide. reporter: their grief is indescribable. the al-darrajis lost seven of their family members to a car bomb attack. amar al-darraji: these are my two brothers. that is my nephew, and up here is my son ahmed. to the left are four of ahmed s cousins. and here is anothenephew. his name was mohaimarn. reporter: ahmed was his father s pride and joy. he was 17 years old and had just gotten his university entrance diploma. his dream was to become a doctor, and he had the talent to do so. amar al-darraji: ahmed s girlfriend is still writing on his facebook page. she has the password. she is trying to keep ahmed alive this way. so i sometimes get new posts from my son on my own pa ....
is a huge search and rescue operation off of some of the greek islands where we have lost atck of the egypt airplane 2:30 local time last night. is very fluid. we are watching for the aggregation of headlines. we will have a map soon. i know we are going to cairo soon. it is a nation that has seen too many of these accidents. francine: let s get to the bloomberg first word news. here is nejra cehic with more on egypt. jetliner fromtian paris to cairo has disappeared over the mediterranean. egypt s prime minister says he cannot rule out the possibility of a terror attack. flight eight 04 was lost on radar at 170 miles from the egyptian coast. it was an airbus 823. andtian military aircraft ships are searching for debris. we will have more in a moment. iran has launched a charm offensive for europe s elite. their meeting with their european counterparts. they re trying to break a deadlock in investments caused by the few remaining u.s. sanctions. credit suisse says the br ....
big today gain and as you say, don t fear the fed, even in the face of this perception that the fed will potentially be more aggressive. all three averages hovering near their highs of the session. been talking lately about anniversaries of record for the major averages and we are approaching the anniversary of the doubt. it was at a record last may 27 and as you can see, distill trading lower by 1.7%. but since last friday, we have embarked on a significant rally, to thate getting closer record level. what would it have to do to get to that level by friday? let s look at the last week of trading. we have seen the 360 point gain for the dow. it would have to go up by the same again to regain that record status. part of what has power to be stocks generally higher has been the financial group, which has seen this big increase here. we have seen financials move higher along with bond yields. financials still the second worst-performing group year to date, so there is a ro ....
anna, chart me up. where are you going? you a chart to show we have used obviously many times before. but offer a few words of caution about this, it is the eu referendum day here in the u.k.. i know you ll be back in the country later on today. we talked many times, checking the odds of the brexit, the average profitability probability. a lot of people asking about the market fixation, whether it is justify. we heard over recent days over how the number of bets in the past have been going on the leave aside, the amount and size have been for the remain side. these have been skewed by the sizes of the bets on the remaining side, maybe those with more money putting money on that site. a real voting situation, you do not put any money down. you display mark in a box. this will be a time when political betting is shown as something valuable to the conversation, or whether it will be found to be wanting. we will talk about the many ways you can try to get ahead of what is ....