About to make his biggest deal ever . Greece said creditors could be struck as soon as tomorrow. This as Alexis Tsipras ahead of a crucial debt repayment. Shares in china have seen their biggest oneday gain in a month in hopes that beijing will embark on further easing. This after falling towards a sixyear low and export s slumpd 8 in july. Joining us, jpmorgan, josh, a very good afternoon to you from london. Lets just sum up the latest data release that weve had over the weekend, saturday and sunday. How disappointing is the data in your eyes . Sure when you look at exports and imports, clearly theres been a significant slowdown. We normally look at things like fixed investments. Things like commodities just up 9 year on year. And investments up just 4 year on year. Clearly theres more scope of easing on the policy side. Just what the market is expecting today, the shank had hi composite nearly 5 . So expecting some more easing. What sort of easing are you predicting to see . And will it have desired effect that the equity market is clearly hoping it would have . Sure. When we look at that policy, we think about 25 basis points and two more of 100 basis points, i think youll see more on upsizing. Weve seen it upsized from 1 trillion, to 2 trillion. Rnb, theres talk of going to 3 trillion. I think that would help ease the pressure on financial vehicles existing year to date. So clearly, that would be something to solve. I think when we step back and look at the bigger picture, were at a very high level. Even today Mortgage Rates are 5. 5 . Corporate rates are at a6 . When you think of that bpi number, thats almost double rates on the corporate sector. We do think its something that happens over the next couple of quarters and hopefully adds relief to the private sector. Josh, one of the most persistent means has been the weak Economic Data coupled with the measures taken by the central bank. When does the story change . When do the reforms put in place by the pboc actual go through the economy . Thats a good point. Weve seen monetary policies like the psl, sof with borrowing rates of 3. 5 . Ultimately, this is towards a more transparent rate in the market. One of the policies youve had with china, theres a bit of ambiguity. That may have been a strength with beijing because they were allowed to tell different stories to different participants, interest and banks. And thats going to come down to having one rate or a corridor of rates to help simplify the message as to what Monetary Policy is. Again, thats something that we think will happen going forward. Josh, over the last decade or so, weve seen china move slowly but surely towards a more financial liberal and market friendly state of affairs. And that has slowly raised the dmreb credibility in the eyes of investors. Has that credibility thats been slowly but surely earned is that because of the measures announced because of the market slide have been pretty extraordinary, havent they . Yeah, i think obviously there were some policy mistakes there. I think if you look at the two biggest issues here, probably one was the lgvu issue and the policy with equities. I think weve seen a significant amount of leveraging within the equities. From 1. 2 trillion to 1. 3 trillion in the last two months. Volumes are down about 6 . I think some of the product issues within the market with regard to leverage have come out. I think on one hand, you have, you know, the weak Economic Data that would certainly point towards more coherent easing going forward. But the other thing is you deleverage the equity market. It that was a concern. You have a small group of investors using leverage in the market. Thats going to provide a little for investors. But that healing process of deleveraging the equity market i think is finally happening. Josh, talk us through it, what are your cause for the big accounts that you cover . In general youre not quite constructive on these names, is that right . I think after the pullback, we looked at the bank stocks, from 0. 8, to 0. 9. If you were to look at anpl sales and writeoffs that increase from, lets say, 5 of the stock in 2012 to almost 40 to 60 of the stock today, so surely speeding up the npl sale process which definitely helps clean Balance Sheets. And the other thing is youre seeing collapse to bad areas. Certainly, manufacturing and trade were down 5 in the last half and theyre shrinking those types of areas. We are quite sure the banks are going to wipe things on the Balance Sheet side. Go ahead. Go ahead. No, i think within the other thing, like insurance, theres definitely a great longterm story there. I think, you know, the brokers are having a much more difficult call to make just because of the policy issues that theyve had because of the fact theyve been asked to buy equities. I think its more difficult to get your arms around those. Sum up for us, volatility can strike of course anywhere. When taking a look at asia, josh, which do you think are most vulnerable to big swings the next coming months . I think when you look at on ye obviously the shenzhen market, and theres concerns on other sources of leverage that could be more of a risk to stocks. We actually like some of the beaten down stuff. The banks are a good place to hide 5 to 6 dividend yields. Given the policy focused on and given the valuations, the banks would be the place to put money. Josh, pleasure to have you on the show. Head of Asia Financial ServicesEquity Resources at jpmorgan. Typhoon soudelor has left 1500 people and thousands more evacuated on chinas east coast. It skilled six people in taiwan before crossing the mainland into the fujian province. Now, taking a look at european equities. Wilf. Seema, thank you very much. A desent session in asia, that hasnt carried through to europe. Were looking at 0. 5 of a decline on the stocks. So continuation of how all of this start last week. More pronounced disappointment in u. S. Over the course of last week as well. Lets have a look at the individual markets as you can see, decline, relatively sharp declines for continental europe, germany france, and the ftse down, 1. 8. The minors are weighing on the uk index following that disappointing data out of china. Lets look at individual movers shares in dixon house, after the company says it was the victim of a cyberattack. Personal data of up to 2. 4 million customersvy has been exposed in the attack. Its just below flat, after a British Company agreed to the advanced business in cash. The company says it expects the acquisitions to be earning in france immediately. Lets have a look at the commodities. You can see across the board there, as they take a hit this morning because of the disappointing trade from china, particularly, export data as you can see, around that, 2. 5 declines across the board. Bond rates, lets have a look at them. We did see a little compression friday. Not too significant, not too pronounced the move, because the jobs data did come out in line with what we were expecting. September also possibly in play, 2. 18 on the tenyear in the u. S. Today. And a relatively muted week last week for the euro. Just below 0. 1 still. The yen just regained some ground last week after a very poor week excuse me, poor month for the yen june and july, and sterling, we know giving up a little bit more, 1. 547. Whats coming up . Is Warren Buffett about to make the biggest deal ever . Thats coming up. Plus, flying the mass, twitter with shares on the tech fall within one dollar. Plus, donald trump with another dustup, this time with fox news megyn kelly. All of that later in the show. Welcome back, ill give you updates on the unfolding situation in istanbul that we told you about earlier. We understand that the u. S. Consulate has been closed. This is just hours after a car bomb attack that also took place in a Police Station in istanbul separately. Theres no reported deaths related to the u. S. Consulate attack. There are reportedly a couple of deaths with the bomb outside the Police Station later in the day. Thats the update. Certainly at this point, an unfolding situation, a couple of different stories just over the weekend when the u. S. Is starting to send fighter jets to aircraft stations in turkey. It could possibly no one has yet taken credit for either of these attacks, this is just a couple weeks after president erdogan has decided is this a war on terror, and hes going after pkk, turkish nationals and hes now reportedly on board with coalition fighters. Asking for a buffer zone between u. S. And turkey. And this all does lead back to the fact that the man is looking for earlier eelections. Hes hoping to get the super majority in parliament once again. And remember he was looking for the super majority earlier this year. A lot of things at work for the moment for president erdogan, certainly the attacks are very, very damaging in terms of the relationship that he has with the United States. Theres another story i want to get your point on, the country is expected to talk about the situation in the middle east. The u. S. And saudi arabia continue to support rebels continuing to oust the syrian president to back bashar al assad. What are we expecting from this meeting . I would expect to see a postwar relationship between United States and saudi arabia. I asked, and i asked is it a marriage . When you look at the players here, Sergey Lavrov, the foreign minister and john kerry. We know that Sergey Lavrov is on the same page as president putin. We dont know necessarily that john kerry is always speaking specifically for the white house. Weve seen so many instances where the rugs been pulled out from under him. So its going to be interesting to see that relationship develop further. Certainly with regards to syria and chemical weapons and whats happening at the u. N. , the situation is much broader. Who do we think the u. S. s strongest ally is today . I think they would say saudi arabia. What i saw when i was in riyadh the last couple months, john kerry and his entourage was there as well. When i spoke to members of that entourage coming out of meetings and saudis coming out of those meetings, i heard a very different story. Saudi arabia and certainly the uae are allies. Were starting to get back in bed with egypt. That was something on hold for the last couple of years. But whether other states would say that about us is the question. With iran, that has been the biggest session . Absolutely, that has played into the conversation in terms what the saudis need to be doing and what the saudis themselves decide to do in yemen because they felt threatened there. Certainly a bigger question as to who are the allies of the United States, not just in the middle east but abroad. Hadley, thank you so much. Shots were fired overnight in ferguson, missouri, reportedly wound would go people. County Police Confirmed the shooting happened after a standoff between police and protesters who were attending a rally to mark one year of the shooting of Michael Brown got out of the car, shots were fired again. He ran behind the building. Theres like a fenced area back there. Theres really nowhere to go at that point. He engaged the officers at the time. There were four officers in that van, all four fired at the suspect. The suspect is in a local hospital, hes in critical unstable condition and surgery. Warren buffett and Berkshire Hathaway are reportedly close to a deal to by precision castparts. The decision which may be announced today may be worth 30 billion. Berkshire is one of the largest. A deal would extend buffetts investment into the sector which contributes to the berkshire line. You see 17. 3 . The Berkshire HathawaySecond Quarter profit, 47 on declining investment and underwriting loss on insurance business. Operating profit 10 below analysts forecasts. Revenue rose 3 while the book value for share was 2 . Now berkshires b sales were 1. 5 . You see down a similar amount in germany. Im kind of interested in this deal with precision, though. The timing is very interesting because youre looking at the dow transport index which is a basket of auto airline stocks. Trading territory down about 11 from the highs in 2013. But clearly, this is an opportunity. I agree. This is stronger not just for u. S. Gdp growth, but global gdp growth. The kind of thing that this company is exposed to hes going for what may give the rest of us a little bit of confidence. The other the factor on the scale which has slightly disappointed me. I havent realized i wouldnt say this is the biggest takeover, but a big teal, i cant believe that would be the biggest deal that Warren Buffetts ever done. Im never looked at the stocks before. Yeah, 1 billion on it. But definitely a big deal. As one of the richest men at this point he would have made a bigger acquisition. The stock of precision down about 20 this year. Perhaps this is a good bargain for mr. Buffett. Yeah, exactly. One to watch there. Dick costolo may step down once a replacement is found for the ceo job. That person would now have to report to three, costolo and three other investors. Lets have a look at twitters stock, down 1. 8 on friday. Of course, that now fractionally above the ipo price. And down significantly over the last three months. For me, i have to say this kind of comes back to the area where one where he does step down, costolo people thinking if he did step down, he would stay on the board and now hes considering not staying on the board. Absolutely a possibility. I think this highlights that there is this desire to bring in some new blood on to the board. And perhaps take out some of the old names and bring in some new people. But the question is, its now been over, what, seven, eight weeks . And we still dont have a name in terms of who is going to be the new ceo of twitter. Does that highlight that its that hard to find a candidate. Or is it just when fall comes well announce who the ceo is going to be . The other question is, is jack dorsey wanting to take the job full time if investors start to welcome that. Thats definitely a possibility. Im not sure he can be fulltime ceo of two big company, maybe hes weighing which one he prefers. But also, i think its good to see that these other guys are stepping off the board. Whether its dorsey or others. Because not only are they past ceos of the company, they hold a lot of stock. And i think thats hard for someone to come in and take a new vision on the company when they know theres big elephants and the one behind them, running the company, still hold a lot of respect and so on and so forth. I think its highly unlike for jack to stay as ceo. Looking to the public as we know before on ipo, theres a lot of work to the road Show Marketing and really, you know, helping to build the brand ahead of going public. If thats the case, i think jack dorsey needs to spend time on spare and not twitter in the between time, we are looking at the stock trading very close to its ipo price. Were going to stick to tech. There are slashes coming out on al baba. Alibaba is going to invest in a 9. 9 stake in suning. It will invest up to 1. 2 billion to subscribe for 27. 8 new issued shares of alibaba. The head line here, alibaba says its going to invest 28. 3 billion rmb for stake in suning. Another story on uber, uber attempted to load up the popular car app on saturday morning. The company apologized for the, quote, brief outage. Which greece wrap up bailout talks before the dead repayment . Word on the negotiations coming up after the break. Some neighbors are Energy Saving superstars. How do you become a superstar . With pg es free Online Home Energy checkup. In just under 5 minutes you can see how you use energy and get quick and easy tips on how to keep your monthly bill down and your Energy Savings up. Dont let your neighbor enjoy all the savings. Take the Free Home Energy checkup. Honey, we need a new refrigerator. Visit pge. Com checkup and get started today. Shares in china have their best day in a month after poor data fuels hopes of frustrations from beijing. Chinese exports tumble more than 8 in july. Violence flares up in turkey with shots fired outside of the u. S. Consulate in istanbul. This hours after a bomb blast injures seven people. Is Warren Buffett about to make his biggest deal in a takeover that could top 30 billion. Greece says a deal with its creditors could be struck as soon as tomorrow as Alexis Tsipras overcomes with the imf over a crucial debt repayment. And you are watching Worldwide Exchange on this monday morning. Lets take a look at european equity. Although it was a down week for stocks last week, that having to do with mixed Economic Data coupled with the commodities. The xetra dax down. And 109 against the u. S. Dollar. U. S. Stocks a good day of stocks use the eurozone right now trading down by around seven odd points. In bonds we did see a move in the tenyear u. S. Note of friday last week. It keeps in play the possibility of a hike in september. Certainly the possibility of a hike by the end of this year, also 1. 18 . And german tenyear, 1. 86. And the euro relatively quiet for the euro dollar. Sterling up last week, reaching 1. 5467 at the moment. Lets move on. Greece is hoping to end negotiations with International Creditors as a third bailout by tuesday. This according to reuters citing a greek official. The greek finance minister met with representatives from the imf and european commissions yesterday. Athens is going to reach a deal before august 20th. This is fantastic development, were going to try and wrap up a deal a few days before the deadline is due. Do you think thats likely to happen . Thats a stretch. To be honest. Whether it does or doesnt happen in the big keep of things, that can always be another to get it done. But, yeah, theyre trying to. But i think its still the track record doesnt set up all that good. When we look at the euro dollar a