tv Trending Business Bloomberg March 15, 2016 9:00pm-10:01pm EDT
apple has come out swinging in its privacy battle. do let us know what you think of our top stories. follow me @rishaadtv, include #trendingbusiness. hong kong markets underway in 30 minutes. where having a look at the general sentiment. these newcomers adding a little bit of green, extending losses overnight. singapore stocks to the upside at the open. malaysia flat. not a lot of conviction.
it questions the extent of how much central banks can continue to do. fed fund futures pricing at 4%. how investors are taking this. and positive territory, but we've seen a drag when it comes to energy stocks. the commodities index is at a one-week low. crude driving down equities. --e the kleins from tokyo declines from tokyo for the
significant upside, a little bargain hunting. let's take a look at commodities, a bit of a recovery in the asian session. $36.97, a little upside for brent as well. rishaad: thanks. hillary clinton and donald trump was seen as the big winners. this is west palm beach, florida , addressing supporters. ohio is also big news. takingtrump also florida. what is the latest?
campaign got a lot longer because john kasich won his home state, giving him delegates to take the battle to donald trump. delegates are what matters here, but john kasich has the argument now. he will go on to other races in new york, new jersey, and california. the republican nomination fight just got a lot longer today. rishaad: does it increase the chance of a contested convention? what does it mean? >> what it means is that every delegate that donald trump does not win is another chance for someone like john kasich or ted cruz to get just enough to keep donald trump from the magic number. isryone that goes to them
one that doesn't go to him. it is not enough for trump to to, they throw it open different people. we hear paul ryan's name come up a lot. a crazy time if we get that far. rishaad: let's have a look at what is going on with the democrats. hillary clinton has a huge delegate lead. can bernie sanders really hang on as he is vowing to? >> he could stay around as long as he wants. he has a lot of money and has done well with fundraising. there are some states that he could win tonight, ohio, illinois, but hillary clinton's lead in delegates is huge. florida is a big one for her tonight, north carolina. she is really pulling away, but
there's nothing to stop bernie sanders from fighting it out to the death. what is next here in this long running drama? >> new york state gets its turn in the sun about a month from now. year, that will be the next where they could compete. california, as mentioned, so there is a long way to go in this fight. donald trump and hillary clinton would like to put this behind them and start fighting each other. overad: we will be all these elections. do tweet us your thoughts @rishaadtv, include
#trendingbusiness. some other stories we are watching today. ,ne is a pharmaceutical company and some other stories. valeant pharmaceuticals, a death warning and a record stock plunge. disappointing financial news quickly snowballed into the worst day in the company's history. bonds plunge tuesday by the most ever since barclays lowered their outlook, and speculation mounted that the credit rating would be lowered into junk. valeant from a surgical's said they would pay down $1.7 billion in debt -- valeant pharmaceuticals said they would pay down $1.7 billion in debt.
it fell the most ever to $33.51. as $257.it was as high analysts say there are too many things happening at valeant, including a typo that shows a lack of control. apple has taken a final swing at the u.s. justice department ahead of their first hearing over unlocking an iphone. the company reiterated its argument that congress should decide what law enforcement can do to compel it and others to cooperate and criminal investigations. that the government is making ,nreasonably burdensome demands forcing apple to create software to degrade iphones security features, inevitably endangering
the security of many people. the rhetoric has grown heated in the last few weeks. this filing is the last scheduled before a march 22 hearing. china's second-largest insurer has seen a jump in profits, rising 38%, net income climbed to $8.3 billion. this came on the back of investment returns and revenue as the insurance company benefited from volatility. invest in income doubled to $15.8 billion, while premiums from life concerns -- insurance jumped to $46 billion. an's directors of big
business is now online. insurance wille be sought online. on this front, we were in that trend quite early. we have been developing our internet business. i think this is a trend. it can be disruptive. the cfo talking to us earlier. right, were looking at the wealth of the richest 400 people on the planet combined, trillion, a shade larger than the german economy. have a look at that at bloomberg.com/asia. coming up, if you have filled in a survey online, it's likely it was conducted by surveymonkey.
going again and raising inflation to that 2% target. for thehat we have moment, nissan set to raise its base rate five ¥3000 a month. elsewhere, our next guest says that even though -- actually, we will get over to beijing. we will have a look at the i npc as it draws to an end. president xi jinping making that once he year press conference. >> he will meet the press, if you will. it is not an unscripted event. questions are vetted and fully scripted and approved by the government.
he will state his case for the economy going forward this year as he did on march 5 in his work report. now his job is to send the delegates off to create some 10 million new jobs in this economy that should grow at at least 6.5%, perhaps upwards of 7%. that is the growth the premier says that is needed for full employment in china. wage stagnation is a problem as well as the economy is shifting into a more consumer driven, surfaces-led economy. led economy. the mood is different in years past. delegates have been asked to not talk to the press, keep to the script, and a bit more nervousness as we approach next
year's party congress, where new leaders will be picked, so more subdued this year, more on script. it will be interesting even though the questions will be scripted, it will be interesting speaks how the premier semi-off-the-cuff later today. that's the message he wants to send to all the --ferent propositions provinces in china come up what what about foreign business? china, but what about foreign business? >> china is open for business. as they go through restructuring, 1.8 million jobs could be lost in the steel and coal industries as they embark on supply-side reforms as they overhaul state own inner prizes.
-- state owned enterprises. they're looking for more state own national champions, getting bigger as they merge industries together into larger state champions that will go abroad and compete more efficiently with foreign companies that come into china. there is optimism. there is open this to a certain degree, but they want more openness, and particular financial services, telecoms, so as they restructure the economy, there will be opportunities, but a lot of foreign company suretly tell us we are not how much of that will be open to us. if he gives any assurances to today, itn community might be lipservice, but it
won't necessarily be open to the foreign community. rishaad: thank you. more coverage of the national people's congress as it winds down later today. though the federal reserve is likely to take action today, several factors may give us more reason to raise rates. the chief executive of td ameritrade joins us now. let's kick things off with the way investors have positioned themselves. we have seen a bit of pushback, a feeling that we get no movement, but that has all changed. >> i would think so. over the last month, slower economic growth, lower earnings have been overlooked by the sectorsso you have all
at highs over the last month. what has been a big push to this , as the energy markets have pushed up a little bit and you've gotten better news globally is you have a little stabilization in the overall market, giving some support. rishaad: what -- we have the primaries today. it's looking like we could see donald trump cemented himself as a front runner, and hillary as well. a trump-clinton fight for the presidency plays out when it comes to the market -- play out when it comes to the market in your view? >> markets like clarity. will beoks like it hillary clinton and donald trump, that will get some clarity. however, i don't think until we get closer to the actual election, later part of the summer, that we will see people
take larger positions. hillary being good for wall street, donald a wild card. we're not sure about some of the things that come out of his mouth these days. until we get more clarity, i don't anticipate large biases upside or downside until we get closer to that november date. rishaad: let's have a look at markets in this part of the world. is the volatility now over with? do you think markets have momentum? >> i think so. as you get more clarity, especially out of china, the national people's congress is ending today. it helps to calm currency turbulence, overall volatility in the stock markets. as long as we continue on that path, i think were looking for
to at least have some stabilization near-term, which helps the overall economy. things are so intertwined these days, china, europe, and the u.s., basically you wake-up in the morning and here in asia and see what the u.s. did. so as long as we stay on this path and nothing greatly changes , i think were looking for a more stabilized market out of china and the u.s. as well. rishaad: thank you so much for your time. right, let's tell you about what we have on the way. tumble on reports the foxconn deal is on hold. the latest life in tokyo. that is coming up next. ♪
rishaad: you are back with "trending business". today.osediving what is going on this time? our sources are telling us the latest holdup is over sharp's most recent earning quarter the court currently running. foxconn once more clarity on how much the company will make her lose in the quarter. the preferred stock is held by that foxconnillion has prepared the banks, we are hearing that they may want to negotiate that lower. this is on top of the liability issue, which could be in excess
of ¥100 billion. still up in the air, isn't it? what is foxconn offering sharp? plane major part of the would be ¥500 billion in fusion in the form of new stock. sharp will use ¥200 billion to develop a next generation of smartphone and ipad displays. ¥100 billion will go to existing lcd operations, with the rest being used for various restructuring. to retain quite a bit of managerial independence, and potentially keep all of its businesses together. rishaad: ok. thank you very much indeed for that. this deal between foxconn and
apple says the government assertions that it has helped other countries is completely untrue. >> no country in the world has made a request like the one we are seeing, asking apple to write software to degrade and eliminate encryption protections of iphone users. apple is acting consistently. it is the justice department and acting withones such authority. we feel we have to draw the line in terms of the law here. the closure of national people's congress after almost two weeks of discussions on balancing growth with reform. the goal of creating 10 million new jobs while reducing overcapacity and traditional industries. he says the target of 6.5% gdp growth will allow for relatively
full employment. markets at the as the marketpc opens in hong kong. the last couple of weeks of discussions, soul-searching about what will happen in terms of china's economic rebalancing. in particular questions over unemployment and capacity, how beijing policy makers will be seeking to balance reform with growth and keeping unemployment at a level they see as being conducive to social stability. were singing some weakness from the shanghai open. hong kong opening up .5%. elsewhere, things looking better, some strong gains out of seoul, korea, as well as singapore stocks.
lows,0 in session positive territory, weakness from energy suppliers, oil refiners, mining stocks. the commodities index tumbled to a one-week low. tracking global equities. the 13thnd snapping straight day of gains. momde in wait and see ahead of the fomc. japanese markets, a stronger yen , honda down today. governor kuroda speaking to
there is roomying for cutting interest rates further into negative territory. primaries,e u.s. john kasich speaking in ohio, the state's governor, assumed to have taken at state, saying he is going all the way to the convention. this is hot on the heels of ,onald trump taking florida taking him closer to becoming the nominee for the republican party in the presidential election. or talking also about hillary clinton, shutting out bernie sanders in three states, so the night forhaving a big hillary clinton, but a mixed night when it comes to donald trump. this.s about
what a day. megan: another night of interesting surprises. inig night for john kasich that he gives to continue his campaign. it is a terrible night for marco rubio, who suspended his campaign after donald trump's staggering victory in florida. we expected the race to tighten, and it didn't. marco rubio had to drop out of this race and suspend his campaign for now. john kasich has always had a strategy of taking this to the convention. he is still taking delegates away from donald trump. whether or not this can be continued and he can replicate and perform strongly in other states, maybe the northeast, we shall see, but right now he needs money to keep that campaign going. cruz?d: what about ted
what will happen with the establishment republicans who are not take fans of him? with a further backing behind john kasich? >> i think they will be throwing the backing behind both of them to stop trump. it can only succeed if donald trump does not get to the number of delegates he needs to secure the nomination outright. it is difficult as he held ted cruz or john kasich could win those delegates, so basically the strategy, if the establishment has a strategy, is to stop him any which way they can. they obviously prefer john kasich as a candidate, but ted cruz is going to be ahead in terms of doug numbers. choice ofo be the anti-establishment voters flocking to this election and backing him or donald trump. ted cruz is no favorite of the establishment wing of the republican party. rishaad: clinton with a substantial delegate lead. your colic was saying she looks
like a shoe in to have that nomination -- colleague was saying that she looks like a shoo-in to have that nomination. money.ers has a lot of we expected him to do better tonight after his upset victory in michigan. we thought that would carry through in some of the electorate like ohio and illinois. we are still watching illinois. a expected him to get more of bump tonight. he has a really strong message, clamping down on free trade, income equality, free education, and those of the messages he was wantsg get across -- he to get across and push hillary clinton as far to the left as he can. the question people are
asking, what next in this drama? >> we can barely predict it week to week. byare seeing donald trump not winning ohio, a bump in the road for him. this is going to be a more drawnout thing. we could be going to the convention, to june. he could still cleanup and secure the nomination, but this will be a longer process than we thought it would be when it looked like he might take all five states tonight. i don't think anybody can predict. i sure wouldn't want to start making predictions now. rishaad: thank you very much indeed for that. the latest on these primers taking place in the u.s. in this race for the white house. close to atailer
deal for a vietnamese grocery chain. they have emerged as the leading bidder after submitting an offer that varies the company at $800 million. the theft of more than $100 million has cost a bangladeshi central bank governor his job. victim to actors who stole $100 million from the new york fed. hp billiton's executive says his company did not expect the speed or scale of the end of the commodities boom. he says ultimately supply will
exceed demand. at tencent making a new push into the entertainment business, buying franchises.0 anime why move into animation? i shouldn't even ask that. content has always been one of tencent's priorities, so the anime.y buying japanese they're also working with studios in china to create a world of superheroes, movies, comics, mobile games, and toys. it's not that different from what marvel is doing with its own superheroes. ip's are like a chicken did that needs to be served in many ways. rishaad: what value can they add
here? >> the local studios like working with tencent because of traffic claim online. , they get that instant live feedback from users comments you will directly online. rishaad: how do you make money here? onit from using these instant messaging? >> some of the content is not for free. it is behind a pay wall. titlesn parlay these into something they can license later to mobile games, movies, and tv series. rishaad: thank you very much
indeed. live images coming from the chinese capital, the closing ceremony for the national people's congress meeting just drawing to a close here, two weeks of discussion taking place in beijing, and there we have the premier slated to give a press briefing in about an hour from now. we will have updates and announces -- analysis throughout the course of the rest of the day. ♪
crashing out and suspending his election campaign. right, that's what we have at the moment. we will have the latest on that as soon as we do get it. ♪ >> it is 9:43 a.m. in singapore. the stories making headlines around the world. says russia'sions partial withdraw from syria has given new momentum to struggling peace talks. the u.k. says president putin should not be praise for ending what was described as illegal activity. britain along with rights groups say some russian airstrikes deliberately targeted civilians. say oneprosecutors person killed and four police
officers wounded in a counterterrorism raid link to last november's attack in paris. dead afteruspect exchange of gunfire. it's not known if the key suspect was the target. the machine has won a fourth victory against man. google's champ is not superior says lee. it shows how far the intelligence has come. the final game was too close to call with lee in top form and al phago making huge gains. powered by over 2400 journalists and 150 bureaus around the
world, this is bloomberg news. guest runsxt surveymonkey, 200 million customers worldwide. inid goldberg passed away may, and it announced 100 job cuts, 13% of its workforce. let's discuss what is next with its new chief executive from sydney. thank you for joining us. in 1999, how do surveymonkey work? all to go toe you surveymonkey and try the service. we are the world's largest online survey platform. your mobilee, go to device, create a survey for people in the office, your customers, family, ask a series of questions in a format you can send out, and quickly you will
be owed to get answers back to help you make great decisions. our mission is to help people make great decisions, a great product, cost-efficient, real-time. rishaad: you would say that, of course. ,00 million customers globally you have everybody, nearly 95% of the fortune 500. yeah, one in eight australians use it in the workplace on a daily basis. has been ondy who the internet and the last 15 years has taken a surveymonkey poll or survey, and we convert many of those into paying customers, trying to deliver value for everybody who engages with our product. we are there for everyone to make great decisions, and our user base is pretty significant, 3 million responses a day. wonder: which makes me what you're getting rid of 13%
of your workforce. , i joined the company two months ago in a full-time ceo role, came in and assist the business, committed to make some decisions to put us on a track that would help grow the business and generate maximum profitability. we have a few key initiatives that we are super excited about and wanted to make every effort to redouble our resources in those regions. the aipac region is one that we will be investing in significantly. ofhad to take some costs out our sales business and make those reductions earlier last month. rishaad: would you be hiring in this part of the world? your opening the office there in sydney, tell us about that. >> we have a terrific team led by a leader here in sydney. we will be investing in growing our business here.
zealand, all significant markets, both self-serve and sales assistant businesses. we have a couple of new products we are launching globally, a solution we offer to help marketers drive new content, to acquire new customers, and our multi feed survey package so that hr departments can buy a package that enables people inside their department to use surveymonkey. it is an english speaking area, and one that people use data. we feel like we have a solution that is different than the traditional world of market research were customers had to spend six figures and take months and months to get answers. we are able to do that much more cost efficiently and quicker. rishaad: absolutely. as you downsize, you also say you are on track to make $200
million in revenue this year. he must be getting ready for an ipo now, so when? north ofl generate $200 million in turnover this year, with profit margins in the mid 30's. in ae fortunate to be leadership position in our space, and we feel like that opens up a host of new growth opportunities globally, so we will put ourselves in a position to go public in the next several years. we don't have a time frame to do that. that is not a milestone or finish line. it's just another event in the process. we are committed to our shareholders and employees to drive equity returns. rishaad: great talking to you. have a good one. surveymonkey there.
some not entirely hygienic restaurants. restaurants showed pictures that did not correspond. some of the restaurants were operating without proper licenses. they did say it was going to remove all restaurants in violation from its online platform. it was backed by tencent, and in january, alibaba would become its biggest shareholder after a closing of a $1.25 billion investment, valuing the company at $4.5 billion. aim atogram has taken like apple that was
offering warranties in china. rishaad: thank you, indeed. we have loads of comment on social media. many major companies have learned the dangers of ignoring the programs. chinese people not entirely happy about the progress seen after these shows happen annually. this one person saying that every year on march 15 they discover all these problems, but never fix them, and worse, the offenders just have to drink three shots of alcohol as punishment. a lot of comments on what happens after these name and shame programs. another person saying that next a straightow will be
up song and dance gala. it is already more form over substance. after they uncover these companies, what happens then? one person commenting that i have never even heard of this company before this. their website was featuring some unlicensed and filthy restaurants, and the company now saying they will remove all these problematic eateries from its website, so people now talking about this relatively unknown online delivery service. this is one thing these tv programs are doing. beingr person just outright sarcastic saying, congratulations to all the companies that made this year's list. rishaad: thank you for that. breaking news, donald trump projected to win north carolina republican primary hot on the heels of being projected to win
top stories if you follow me on twitter. don't forget to include the all-important #. between the gain line in shanghai. seeing positivity in hong kong. here is heidi. bag as we head into the afternoon session across asian markets. this is the picture. we are not seeing a whole a lot of conviction. same sort of trading pattern yesterday. saying you are not going to see much of a strong move. sitting by the sidelines and seeing what janet yellen has