Skip to main content

tv   Charlie Rose  Bloomberg  March 15, 2016 10:00pm-11:01pm EDT

10:00 pm
, honda agrees -- 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 toing what janet yellen has
10:01 pm
say. she would have to say something fairly significant to see any sort of strong upside in the market in tomorrow's session. we have sydney turning green. up .2 of 1%. we were a negative territory earlier. those up a little bit of as crude prices continue to asian session. we do have some weakness coming from tokyo on account of the yen sitting at the one third handle. shanghai has turned green now. about a quarter of 1% as the key clinical session wraps up in beijing. out for the conference to see what the premier has to say about the reform. overall rebalancing in the economy.
10:02 pm
we are seeing some downside in exports. 1%. by 7/10 of tameg a little bit of today after the bank of japan announcement yesterday. today,g in parliament will not hesitate to end in all three forms should the economy desire it. they see room to add further into negative, maybe negative half percent. watching players in china because we had comments coming through saying beijing has to do more to try to stabilize the housing market to cool down the major cities. seeing astronomical prices. these are the biggest drivers when it comes to the australian session.
10:03 pm
rishaad: thank you, heidi. donald trump big winner today. five more states. front runners projected to have both one three states so far. washington bureau manager is watching in new york will stop what is the latest? what have we learned? a very good night for the front runners. theary clinton is sweeping board so far with a couple still to be called. night trump having a big except for the state of ohio. that is a problem for him, john kasich is gaining popularity and could keep this going longer than trump would want it to. rishaad: where does this leave ted cruz? >> we have not talked about him at all which means it is a very bad night for him. some thought he might need trump
10:04 pm
in missouri, too close to call. trump will probably take it there. is 0-5 tonight. when you are ted cruz, you have to try harder. he is not part of the storyline tonight, that is a bad night for him. rishaad: nicu would argue he has been concentrating elsewhere for the next round will stop lead is not leave out the democrats. bernie sanders determined to hang on. really going to try to move hillary clinton's agenda to the left? >> i think bernie sanders in vermont got into this to force hillary to talk about incoming inequality, free college, -- universal health care. bernie is surprised at how he has done. he won michigan. not as good tonight, but i think sanders believes every night he
10:05 pm
stays in as another night where his issues are at the forefront will stop there has been a youth movement pulling her toward sanders issues and that is what he wanted to accomplish. of john kasich, we have bernie sanders saying they are going to take it all the way to the convention no matter what happens. a contested convention. we are still unclear how that would work out. 1267at it means, you need delegates to become the republican nominee. also, if all raise their hands and say they want him to be candidate. if you goes in with fewer, on the first ballot there is no nominee and it is wide open after that. negotiating, john kasich, ted cruz, could say maybe they could be a compromise candidate. mitt romney's name comes up a lot.
10:06 pm
it would be chaotic. time to cover, but donald trump once to make sure that does not happen because anything goes at that point. rishaad: he is talking in florida at the moment. thank you. trump: as a country we did not win any more, they ask, is there anger from your people? they are not angry people, but they want to see the country properly run. they want to see borders and good health care, they want to see things taking care of. they want our military is in a bad state. they wanted to rebuilt. very importantly, and they want the second amendment, by the way, protected and attempted strongly and that is going to happen. and you know what they want so
10:07 pm
badly? they want our veterans taken care of. our veterans are treated so badly. , we started and something happened called paris. paris was aned, and disaster. there have been many disasters, but it was paris and then we had a case in los angeles where was in california where 14 young people were killed. on.oes on and on and what happened with me is this whole run took on a whole new meaning. not just good trade dealers, i am going to make the good trade deals, the best you have seen. we have smart people in business and these people are going to be negotiating our deals and a are the best in the world, we have the best negotiators in the world. we are can have such good deals, where can i do so good with trade, we're going to do good on the border.
10:08 pm
it took on new meaning. the meaning is simple. we need protection in our country. the poll numbers shot up. i am proud to be part of this. i think we're going to go and we are going to do a lot of trips over the next month but i think we're going to have a big victory and more importantly than anything else, we're going to start when he. this country is going to start winning again. we do not win anymore. [applause] mr. trump: we do not win with our military. we cannot be isis. we are going to knock the hell out of them. we don't win at trade. china, everybody, japan, mexico, vietnam, india. name the country, anybody we do business with beats us. we don't win at trade. we are going to win at trade. we are going to make our country
10:09 pm
rich again. we are going to make our country great again. to we need the rich in order make our country great, i am sorry to tell you. [applause] -- trump: so, rishaad: palm beach, florida there. rubio, marco rubio suspended his campaign. win.of course, online to that is trump speaking in palm beach, florida. let's get to the china national people's congress today in beijing. steve, what are we expecting? steve: it later on, the premier making his only news conference of the year. just guarantee you,
10:10 pm
listening to donald trump, and he mentioned china, i guarantee you the closing ceremony of the national people's congress is not going to be nearly as colorful as what is happening in the election campaign in the united states. this is a more button-down the affair. the marching orders have been pretty clear. so the party line, keep your mouth shut when me foreign media asks you a question. go about your business in this very slower growth and environment. there are challenges. they are not shying away from them but they are also trying to get more disciplined from the many delicates heading home to their provinces with their marching orders. no surprise, the headline so far from the closing ceremony is that the delegates at the national people's congress have plan.ed the this is not a surprise. many people call this a rubberstamp legislature. they got the work report as
10:11 pm
outlined by the leader on march 5 and today they pretty much gave it the stamp of approval that will take the economic blueprint through the year 2020. that means they are targeting 6.5 percent gdp growth over the next five years. a range. they gave 6.5%-7% growth. this year they gave a range instead of a hard and fast target because it is uncertain. they need that 2.7% growth in order to pull employment. they are planning to create some 10 million dollars -- 10 million new jobs this year. there are definite challenges and they are going to be talking starting at 10:30 the premier about how they are going to get some short-term stimulus or growth targets while also and barking on -- while also embarking on painful reform.
10:12 pm
that is the challenge, breaking own big -- rishaad: technical glitch there. thanks, steve. some other stories. rishaad, negotiations in full swing in japan. automakers coming out with decisions. even a nine dollars month pay hike difficult to deliver. dealing a heavy blow to economics which aims to stimulate economy by raising corporate wages. pay hike isthe challenging. global conditions harsh. workers already relatively well-paid and little inflation in japan. the union has asked for a $26 raise, smaller than the past two years. hasan, on the other hand
10:13 pm
met their union request. month, meeting request. met for a little over nine dollars a month. challenges remain for economics for the cycle of wage growth, higher consumption. leading to sustainable growth is not working as well. economists expect more of the same on wednesday, projecting other japanese company will offer slimmer raises than last year. and plunging in tokyo after foxconn delayed its rescue deal and questions about shops performance in the last quarter. -- sharp's performance in the last quarter.
10:14 pm
the board itter decision, foxconn said it would postpone finalizing the agreement until it can work through information it received .rom sharp that included about ¥300 million and potential liabilities. are attempting to mitigate those costs. apple has taken a swing at the u.s. justice department ahead of the court hearing over unlocking and the iphone used by a mass killer. the company reiterated its argument that congress should decide what law enforcement can do to enforce it. they are saying it is unreasonably burdensome demands, creating -- ordering apple to create security features that would in evidently and danger the privacy of millions of people. the two-sided rhetoric has grown heated in the past two weeks.
10:15 pm
this is the last scheduled before a march 22 hearing when the judge ordered apple to help the fbi considered the company request to drop the order. rishaad: thank you. it has been all about the primaries. five states in the frame. find more on our website at bloomberg.com. makinger of we checked chat making waves. coming up, the latest on the election. including what could happen if donald trump wins the presidency. ♪
10:16 pm
10:17 pm
♪ rishaad: let's get you back to the race for the white house.
10:18 pm
we have with is a fellow from the milliken institute. it is quite something. is looking more and more certain to get the nomination but it is still wide open to some extent. donald trump had a good night. >> what a great night for trump. but john kasich is holding out in ohio. it looks more and more like between trump and clinton. rishaad: all the stuff coming out of donald trump's mouth, what does it mean? i can sense and unease in the asia but also in the united states with some of my friends. unease with what
10:19 pm
donald trump has said, understandably. -- we havestand in to understand that in every race, once they have the nomination they moved to the center. unfoldsto see how it but the unease in asia, understandable. rishaad: what about all these trade dealers -- deals being unwound, like the ttp? >> i had the honor of serving under president obama and president bush. it is an accomplishment for both. the reality is the leading candidate, trump, sanders, clinton, ted cruz, they all came out against the deal. the reality is after many years of negotiation, we do need to move forward. freer trade has been to the benefit of everyone in this region.
10:20 pm
rishaad: the only news conference of the year we will go to in a few minutes. wait to see what he has to say, but the reality is we do not have to wait. there was some news we already know about, increased flexibility in terms of economic growth targets for china. right now they are talking about 6.5-7 percent. it does give people the flexibility. one of the past problems, local governments try to meet that target of a single percentage point. are they taking on debt? are they hiding debt? that is the real challenge. it will be clarified with what is coming out of the national people's conference. part of our message is the need for inclusive and sustainable capital markets.
10:21 pm
china's challenge remains that. i stepping back on some of the critical things they need, that is not a good thing for china in the long run. after the break, we will be looking at what is happening in china. they are exposing bad behavior on world consumer rights day. we will have more on that. ♪
10:22 pm
10:23 pm
♪ rishaad: your back with trending business. the prime minister should be coming up and taking questions. that is the national people's congress. from theth curtis
10:24 pm
milliken institute, asia. he is talking about the npc. and thek market volatility of this year and last are in the forefront. an internal memo saying that stakeholders need to behave themselves. >> out came the report that information had been leaked. what does that mean? in reality, markets go up and down. china cannot hold back the tide. rishaad: that is it, what do they do about it? right now, challenge they are struggling to come up with ways. they know the answer. they need to really not focus on enterprises, but that is difficult. need to reform the financial institutions that they have the and do that while they
10:25 pm
can grow. pbc does have the firepower. curtis: absolutely. weird way, between what is going on in china and the u.s. is parallel. china says we are to continue to be winning. that?ey achieve they cannot hold back the tide of progress and we have seen that in the capital markets. rishaad: one of the ways they can keep growing is because they have a physical side being dealt with and the monetary side. this is not something most central banks are finding. there are not finding that governments are providing them with the fiscal support. the primepan, under minister, they talked about this goal, monetary, and reform. that is missing in china. reform, we are seeing that in
10:26 pm
china. all the they will do will not succeed as well as they hope. strong youmeone all say this does not actually work for a central bank to do everything. hurt us: in deed. the answer to a country's problem is not to be found in the central bank. they need to reform. the answer is not to be found in monetary policy alone. you cannot solve your short-term problems with monetary solutions. we have seen that layout. rishaad: what will be the big news? curtis: flexibility. 6.5%-7%. rishaad: great to see you. curtis chin from the milliken institute. now we go to the capital of
10:27 pm
turkey closing out the lunch break and seeing reaction to that speech on the shanghai market. ♪
10:28 pm
10:29 pm
♪ rishaad: a look at top stories. hillary sweeping boards in today's democratic presidential primaries. a 6% lead over bernie sanders and illinois. side, donald trump predicted to win three of five states including florida, the home state of marco rubio who will suspend his campaign. and john kasich wins his home state of ohio.
10:30 pm
is -- and says iphone apple says iphone is beyond limits of government control. government claim of helping other countries is completely untrue. this is the scene in beijing at the moment as communist leaders gather to take questions from journalists at the news conference. creatingready seeing questions and being asked about that. government target of at least 6.5-7 percent growth. all right, we should have a look at the markets. to whatd get a reaction investors are saying.
10:31 pm
we will go over to heidi. heidi: a reaction out of shanghai on the earlier gains. couple minutes, up a quarter of 1% and now clinging on positive territory. particular, some of these industrial and the mining sector. companies facing the most severe overcapacity worried about how beijing is planning to balance strategies. talking about potential structured bankruptcies. we will be watching for the stock market. mixed actor.gion a all eyes on janet yellen and what she has to say. we are not expecting anything dramatic after the u.s.
10:32 pm
overnight. not a lot of convictions in the -- et today but happy to new zealand over a potentially 13th day of gains. the most since october last year. sydney falling back into negative territory. after the energy stock took a little bit of a beating. take a look at property. innly awaiting rhetoric beijing. some concern about the severe divergence. the rest of the country, particularly in the big cities. that stock, the worst performer,
10:33 pm
one of the worst performers in the whole session. press briefing at the end of the national people's conference. they have been talking for two weeks. we are now getting journalists asking the chinese premier questions. [speaking chinese] >> the recent volatility in markets have john close of international investors. mr. premier, what do you think of the major problems and china?ging facing
10:34 pm
what are the plans for the future of strengthening finance shall regulation? major reforms ofpted for the development stock, currency, and markets in china? will the recent bulletin validity holdback china's reform , involvement, and will be hong kong stock connect be launched this year? >> [speaking chinese]
10:35 pm
rishaad: that is the chinese premier taking a question after the volatility we have seen in the first month. asking what was to be done about it. what had to be reformed in order to start that happening in the future. many miles away from that venue, also in beijing, steve having a look at what else we are expecting today. steve? steve: these are the kind of questions the premier is going to get to as we saw kicking off
10:36 pm
the press conference from a foreign journalist asking a question that was obviously preapproved and vetted before hand and quite a broad question. he asked everything about currency, reform of the economy, he asked about even the hong kong connect and whether it would be launched this year. it is kind of a big softball up to the emir where he cannot basically read out his prepared statements on all those matters. there are a lot of challenges in the chinese community. capacity needs to be whittled down and they need to meet the short-term growth targets. this sure, between six point 5-7% growth and so far the have gots say we knocked 28 slow start. there are seasonal distortions because of the lunar new year output but industrial and exports down.
10:37 pm
the only thing that seems to be picking up as the property market where some prices in the tier one cities have gone up. 152% year-over-year. that brings up other problems, it stokes eight bubble. they have been looking on coming down on some of the mortgage deals as well. i'm looking forward to see if the premier will say anything about the property market to see if they will let the mini-bubble continue to blow up a little bit because, again, the pillars of strength for the chinese economy are a bit weak right now. exports are weak. demand is showing weakness with retail sales slower than expected in the previous month. whether they let the property market continue to inflate will be an interesting sign on the level of reform they are going to unveil as they close down the national people's congress and approve the 13th five-year lan
10:38 pm
today. today. rishaad: they are telling the line, they have been told to do that. what is the mood of those delegates like? steve: it is interesting, i have covered many of the national people's congress. consultant body of the cpc see, usually in the last decade or so the delegates do not like to talk to the foreign media much but they are fairly open to it. in the last 13 years, especially under the two laws of the past theident -- the two laws -- tutelage of the past president. we are still under the repercussions of the last
10:39 pm
campaign. fewer banquets. fewer dinners. a sense of austerity and probably stress as they get the marching orders to go back and deliver steady growth when there are a lot of pressures in the economy. more subdued this year i have to say. rishaad: thank you very much. steve engle there. politicsng to american . hillary clinton and donald trump seen as the big winners. five states holding primaries. front runners doing well. megan murphy is watching the race. macon, what have we learned in the last hour? megan: we are waiting for missouri where it is tight on both races. andeen bernie sanders hillary clinton and between donald trump and ted cruz. on the republican side, this is ted cruz is chance to get on the boards.
10:40 pm
john kasich one his state of ohio. ted cruz would like to get a victory tonight. mean ted cruzthat will have people show up behind him even though he has had a bad night of it or will it the john kasich? macon: that the establishment faces a row quandary here. they don't like ted cruz much more than they don't like donald trump. john kasich has won ohio, that is the only state he is one so it is hard for him to see a pathway. he is a candidate to could get the nomination. he will not get it out right. his strategy is to take it to where people will be freed up and a new winner could emerge. for ted cruz, he has been ruthless about picking out core voters. one of the most sophisticated campaigns out there sophisticated targeting
10:41 pm
strategies. at the math does not look friendly to him moving forward. has voters sued lean heavily conservative and it does not look favorable to him going or word. not that many states with that demographic left. they face a choice, continue to strategy with anything but trump it is a tricky strategy fraught with the possibility that donald does what he does best so far which is, winning. rishaad: hillary clinton having a good night. sanders, powerful following even though he has not really one anywhere today. how long can he hold on? megan: he can hold on. he has money. he is ahead in missouri. we expected him to challenge a little bit more strongly and ohio this evening where the
10:42 pm
electorate mirrors what we saw in michigan. we thought he might have some strength. at hillary won with weight large margin so very impressive for her. her campaign has really focused on ohio. but bernie sanders can stay in as long as he is the will and the message. exuberance behind him. we do not see him dropping out anytime soon. that,d: thank you for megan. joining us from new york actually on the latest on what is happening in the five primaries taking lace. the two front runners justifying their positions. $.10 making eight new push into the entertainment business for a new pushmaking into the entertainment is this. if you look at what they are
10:43 pm
doing with local studios, they are creating a universal superhero story line. it can transition into mobile games and toys. not different from what marvel has been doing all along. they want to parlay the franchise and license the content and that could be a revenue stream. rishaad: they have an advantage, do they not? >> yes. traffic volume unparalleled with the help of instant messaging. when users post their content on the platform, instantly they get feedback from millions of users online. with that kind of data, the content creators can tweak their stories on a daily basis. rishaad: how do they make money here? >> there is a pay wall for some content, pay-per-view.
10:44 pm
at the ball coming from the franchising of these licensing so that is how they will make money in the future. rishaad: net will help china's so-called stock power. up next, the rise of the four-we'll drive. as uv is increasingly the vehicle of choice. increasingly the vehicle of choice. ♪
10:45 pm
10:46 pm
>> desired the stories making headlines around the world. holding the soul press conference of the year. remarks are discouraged. we have already told the udience -- he also aims to build a
10:47 pm
multi-tier capital market. he wants china to protect the rights of investor's. struggling+++o would not be -- some russian airstrikes deliberately targeted civilians. one person killed and four wounded in a raid in paris. at least one other suspect on the front after gunfire in brussels. investigators say attacks carried out -- and not known of -- suspects [in ottawa]
10:48 pm
market: the largest car rapidly changing taste in car preferences. let us have a look at what is driving the market. no pun intended. talk about how china is the biggest market for vehicles around the world. get started, to show you how this looks compared to the monthlytates, this sales in china and the united states, u.s. is in green, china in red. long story short, 10 years ago 300-4 hundred thousand. passenger vehicles over a month. it has been good in the past 18 months. 17 million to give you just annually.
10:49 pm
china, 23 million-24 million every single year. they have gone from 300,000-400,000 a month to 1.5 million. january, december to about 2.5 million every month. market.quite a big what we have actually seen, and you can actually check this out, it actually breaks down and shows you this growing reference for suv. bring up the chart for you. suv in china. started out as a trend in 2015, of allt one-third passenger vehicles registered or sold in the chinese market are now these big suvs. so there is a preference. 34, 35,n 10% in 2010 to
10:50 pm
36% based on january and february data. .hat is where we are something to watch. you want to look at your carmakers who are very much in this product. rishaad: take you. and you another set of disappointing trade numbers. we are going to head to mumbai to have a look.
10:51 pm
10:52 pm
♪ rishaad: let's look in sydney. can we expect to see the h.p. open its wallet? paul: not really. mckenzie did not really go that far. he made these remarks to a conference in melbourne. the cycle of business does not depend on doing deals, and there is opportunity to happen without doing deals. at the shakeout is happening right now. it is going to evolve depending on prices. as far as prices go, andrew mckenzie is not optimistic. are relatively bearish about the price. probably more bearish than the
10:53 pm
price of any other commodity. business is still profitable for us and for australia. >> he also says the ira nor supply will continue to grow. ore supply will continue to grow. rishaad: we are starting to see praiseek price rains -- races -- price raises go away. did catch bhp by surprise was the scale of the end of the mining boom, even though it is an emerging trend. he says what is happening now is very much a return to normality. thank you.
10:54 pm
now let us return to what is going on in india. the start of the trading day in mumbai with exports falling for a 15th straight month. the trade deficit is at its smallest in 2013. is it showing signs of slowing? the question what it means as far as interest rates, it has narrowed to its lowest level since september 2013. especially from a europe as the country's biggest export market. it has been struggling with weak global demand although the slowdown has been softened i a collapse in oil imports. company with chinese imports. a quarter of the goods exported
10:55 pm
-- raise tax on steel imports. -- sapping the ability of engineering goods to compete on a global market. macro economic data coming out of theriday, in terms bank of india's governor. calls to devalue currency. last week said central bank to curbt extend volatility. we get a sense of what the governor will announce. back to you. thank you. joining us from mumbai. let's go to the shanghai market. a chance for the annual news
10:56 pm
conference. a bit of positivity. talking about the chinese economy not suffering from a hard landing. talking about supply-side reform. that will stimulate the market. he is hoping the difficulties facing chinese economy are going away and there is huge potential for the country as well. expressing, as you would expect, confidence as well. that is some of the lines coming out of beijing at the moment. asia edge is next. we will recap the stories of today. we will have the stories of today and the stories of the united states primaries as well.
10:57 pm
. .
10:58 pm
10:59 pm
11:00 pm
>> and begin with a check of your news. visuals and washington, d.c. date will shut down the city's metro system beginning cat midnight tonight. they will have a systemwide safety decision. a.m.will be closed until 5 washington time. the obama administration has reversed course on drilling for oil on the selfies coast. they announced it will abandon the offshore oil and gas journaling. coastal communities and the pentagon opposed the plan. john kerry

27 Views

info Stream Only

Uploaded by TV Archive on