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tv   Trending Business  Bloomberg  May 3, 2016 9:00pm-10:01pm EDT

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♪ rishaad: it is wednesday the fourth of may, this is "trending business." ♪ rishaad: we are going to go to washington dc, canberra, sydney, and singapore to look at what we are watching. it is all in for in indiana, ted cruz quitting the race after a lose to donald trump. that the mccracken race remains -- the democrat race remains too close to call. commodities producers in
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australia, investors prioritize safety over stimulus. and the government hoping that stimulus and the new budget will bring victory in july with anticipated elections. you can't take anything for granted. let us know you think of the top stories. don't forget to include the hash tag. let's tell you about the markets, it is a day or your seeing a bit of a selloff in china and hong kong coming on in 30 minutes. here is david. david: all of this global selloff, emerging markets. down 2% on the embassy i gauge. you look at the world, places that the big hit, turkey, argentina, brazil, and a lot of markets we are waiting for in southeast asia likely to take that you. global selloff, you look at embassy world, some of the world's biggest companies in that index, half $1 trillion,
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and the bank of japan is still closed for greenery day. gold at 1285, 1300 yesterday. old on the way down. it was under pressure as well. u.s.than it was up was the dollar and the u.s. treasuries. having a look at the euro, 116, should be above that level at the moment. looking at oil, some movements when it comes to crude prices. we are way below this time yesterday. 43.81 for crude. australia is a big market, tops yesterday, it is reversing half of those gains. 75 u.s. cents is your aussie dollar. the big budget was announced somewhere here in the afternoon. since then, it has been sold down.
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a lot down to the strength in the u.s. dollar, which would cost more in a few moments. industry looking like this. industry pointing out, do they buy into stimulus story, or they sell because of what is happening across the world? it is clear looking at the price index with the market players in australia, investors are choosing safety. this hour,p stories public and candidate ted cruz quitting the race after a crushing loss to donald trump in indiana. he told supporters he is ending his bid for the white house. heart,z: with a heavy but with boundless optimism for the long-term future of our , we are suspending our campaign. rishaad: so let's check reaction to all of this. tim higgins is in washington dc.
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a veryow certainly strong position, and this announcement out of left field. >> the math is very hard for anyone to challenge trump going into the convention in cleveland. and ted cruz, he could not do the math to become the nominee on the first vote, win enough delegates, he was trying to block donald trump from getting into office to keep him from the 1237 delegates needed to get the nomination. with ted cruz gone, the field is open. it will be really hard to block trump in the final stage three at trump only needed less than 2% of the delegates remaining -- 50% of the delegates remaining. with ted cruz gone, he will not see a lot of competition. well, whatah, and does that make the democrats?
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it is too close to call in indiana for them, right? reporter: right, still not unusual for the counting of the ellet to go late in the -- ballots to go late in the democratic field. a winning for bernie sanders will be symbolic, it will add momentum, but the math him to get enough, it is pretty hard. at this point in many regards is the presumptive nominee for the party. that said, a victory there will continue his fight, continue to help raise money for advertising and require hillary clinton to spend money she probably did not want to spend in upcoming primaries. going into california can be very expensive with those remaining delegates, which bernie sanders would need to be credible to take the nomination. part of this playoff is the influence within the democratic party going forward, to kind of
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influence the slate. tim, let's talk about republicans. where does actually leave mr. kasich? reporter: he is still in it. his staff circulated a memo he plans to stay in because he thinks he is really candidate that can win in the general election against the democrats. it is part of that kind of play of if there is a concept of party, he would be the favorite among party leaders if they were able to somehow stop donald trump from winning in the first round of delegate votes. those delegates are largely at this point looking to be leaning to donald trump. the case for him going forward to be much harder in the last few states here. rishaad: right. so just to reiterate, any idea why ted cruz chose this point of time to pull out?
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the math was never working for him. there was that whole lure of the contested convention. will he see it too difficult? reporter: his statements suggest he does not think it was viable, that strategy was even going to work. he really needed to win indiana tonight to make that kind of algebra work. at this point after winning indiana in such a dramatic fashion, donald trump is really within spitting distance from having enough delegates who have voted him, represent him at the convention. having to be contested is probably very unlikely. i have no doubt there are people trying to figure out a way to do that. you can even see it with republican leadership in the last week or so. more party elders come out and say it is time to get around the idea of donald trump being the nominee. rishaad: thank you very much. in d.c..ns it wasn't
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we will go to new york where donald trump makes an appearance . this is 9:07 p.m. there, tuesday evening. that is the scene, maybe top -- trump tower. that is usually where he makes these speeches. as and as we stop talking, we will get you over there. let's talk of the australian government picking up the campaign for the second election with a double shot of stimulus. this man says it is focused on jobs and growth. they cut rates for the first time in a year. paul allen has more. what have we got here? what we have immediately is a small protest behind me against the budget that got handed down last night. his perplexing while one of the , they are budgets
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forecasting to get them down to 69 million by 2020. iron ore is $55 per time. -- ton. they are dealing with multinational text as well. for the treasury's part, the real theme is jobs and growth. we are hearing a lot of that as we go up to the essential july 2 convention. and before the lockup, the treasury cut the cash rates 1.3%. here is what scott morrison said about that. >> but the government is talking about, the inflation target of 2% and 3%, those inflation numbers are impacted into this budget. they are taking account of that. it is what has been happening in the housing markets in australia, and i feel they can start to move without risking overheating.
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the treasurer didn't bank from the reserve signified any underlying weakness. he said i will let them do their job and i will focus on mine. rishaad: thank you very much. to thelen, talking finance minister of australia at the bottom of the hour. that is about 9:32 hong kong time. let's like at the stories later on in the program. tweet us with the #"trending business. let's look at what the federal reserve does next, the game in focus. yvonne is looking at that. a lot of that commentary coming through overnight, the federal rate hike is back on the table from the last said president, dennis lockhart. he said june to be a real
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option. that would help stall the dollar's slide from a one-year low. --khart said to rate prices hikes are possible. wheels are heard from the san francisco pride president about june as well. >> we are never supposed to talk about what is going to happen at foc meetings, or what my colleagues will say, then we get a lot of data and more discussions. but yes, it would be appropriate given all of the things we have talked about to go on that next step. a lot can happen between now in the middle of june. yvonne: and forget passwords, city to be the first bank in asia to have voice recognition for retail customers. this is a part to upgrade internet banking across the region. takes all of -- citi's place outside the branch
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network. one million users within a year, new technology will be rolled out in singapore followed by australia, hong kong, india, and taiwan. that will help the service division to cut the average plan to validate identity over the phone to just 15 seconds. others are looking at this as well in this part of the world. tycoon, he doubts he will be given a fair trial if he went home to face his death. writing to the policy on ethics, he does not want his name dragged through the mud in what he called the lynch mob mentality. she resigned his seat after he faced expulsion by lawmakers. he is accused from walking away from $1.4 billion in debt. the government has called him a fugitive over those unplayed dues. dues.aid
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he offered a one-time payment proposal that was rejected by the banks. his passport was revoked after he left india to be closer to his children in the u.k. rishaad: right. just breaking news, bernie sanders fighting off hillary clinton, narrow, narrow win for him. it has been called a victory in indiana democratic primary. and republican chairman talking victory ind trump's indiana, and ted cruz pulling out saying donald trump is the presumptive nominee for the republican party. more on that naturally, but also speaking to the australian finance minister as they announced the budget expansion in july. global stock 50% from february loads. -- 15%. whether this is over with. ♪
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rishaad: just 9:15 p.m., donald trump in new york. donald trump the present of nominee for the republican party. there he is. a 20 pointp: deficit. i worked very hard and i campaigned and i made lots of speeches and met lots of incredible people, incredible people. you don't get better. and the crowds got bigger and bigger and toward the end, it was like i didn't want to leave. i said, abi will just never leave. and it resonated somehow. victory tremendous tonight, it was a tremendous victory. i have to and bobby knight who was incredible. [applause]
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i always say, people like that, there aren't many. but tough, smart, they know how to win, and that is what our company needs -- country needs. we know how to win, and we have not won. we lose all the time, military, can't be isis, we lose with borders. we are not going to lose. we are going to start winning and win the big leagues. [applause] so when i got back tonight, and i started watching all of the different networks, i can see immediately they were doing very well, and it really looks like a massive victory, and we win all 57 delegates. [applause] and i must say, in staying in various places in indiana, i
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turned on the television, and all i saw was negative ads, one after another after another. i called my people, and i said how can we win? it is constantly, say as florida. , i got itative ads right from you, folks. 60,000. in fact, two weeks ago it was 55,000. now it is 60,000 negative ads, most of which are absolutely false and disgusting. and i said, how can anybody enter this? on inwere five ads between segments of a show i was watching. and i said, that is incredible. and the people are so smart, they don't buy it, they get it, tremendous -- [applause]
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tremendous amounts of money were spent. millions and millions of dollars, and they were comparing it, probably $8 million was spent against me, and we spent $900,000. to me, that is the way it is supposed to be. [applause] that makes me feel really, really very good. and now, we are going to nebraska, where is your we are doing really wonderfully. i look forward to that very much , and west virginia. we are going to get those miners back to work. i will tell you why. we look at those miners back to work. [applause] we are not going to be hillary clinton, and i watched her three or four weeks ago when she was talking about the minors as if they were just numbers. talking about she wants the mines closed, never let them work again. let me tell you, the minors and west virginia and pennsylvania
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which was so great to me last are, ohio, and all over going to start to work again, i believe me. they are going to be proud again to be miners. [applause] so we will be going there. i must say, it is tremendous, starting with new york. almost 62%. and over get three people. two people is a massive landslide, but with three people, almost over 62%, when you have that kind of a number with three people, it is unheard of. and all throughout, it was 17 then 15 then 12, tremendous. we are getting very high numbers. some of the numbers in my opinion that i got in the early where when the state was 32%, but there were three people, that might actually be
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more and better than getting 62% in new york. but we never got credit for that , but now we don't need the credit, because we are going after hillary clinton. she will not -- [applause] she will not be a great president. she will not be a good president. she will be a poor president. she does not understand trade. her husband signed, perhaps in the history of the world, the single worst trade deal ever done. it is called nafta, and i was witness to the carnage over the last six weeks especially. i have known syracuse and e and -- and all of the different places i have visited in new york and maryland, was treated be so great were the people are incredible, all of the different states, connecticut.
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it has donehat firsthand, and it has been indeed carnage. we are not going to let carrier in all of these companies just inc. they can move, go to another country -- just think they can move to another country. we are not going to see this happen. [applause] we are going to bring back our jobs, and we are going to keep our jobs. we are not going to let companies leave. if they want to go to a different state, good luck, compete. but when this are going to manyrent countries, and cases, countries that devalue currency and make it impossible for our companies to compete, that is not going to happen. and if they want to do it anyway, there will be consequences. they will be very serious. [applause]
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i have to tell you that i have competed all my life. competitive person all my life. all my life i have been in competitions, different competitions, sports, business, or now for 10 months, politics. i have to tell you that i have met some of the most incredible competitors that i have ever competed against right here on the republican party. when we started off, we had 17 in number. just so you understand, ted cruz, i don't know he likes me or doesn't like me, but he is one hell of a competitor. he is a tough, smart guy. [applause] a little talking about ted cruz, who left the race.
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we will get over to the national reporter mark, who is on the live in indianapolis. what are you hearing what donald trump is saying about ted cruz being incredible competitor? that is competition coming to an end. that was a huge the rise, wasn't it, mark? mark: it was and it wasn't. ted cruz made it clear indiana was a fireball. hope of stopping donald trump before the party's convention in cleveland, he had to do it in indiana. it was devastating for donald trump. he won all the demographics. he swapped all of the delegates. ted cruz should have been able to do well, the demographics, , but donaldvoters trump steamrolled the state and showed how strong he is and how he is now, presumptive nominee. rishaad: where does this all leave john kasich? john kasich put on a
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statement before senator cruz dropped out saying, he will remain in the time test -- contest until a candidate reaches 1237 needed to secure the nomination before the convention. with ted cruz out of the race, if donald trump gets enough delegates to reach that, john kasich will drop out. as of now, he will continue to make the case, which he is, the most electable candidate in the general election. rishaad: how far do you think ted cruz was hurt by this deal he made with john kasich? mark: i'm sorry? rishaad: how far do you think ted cruz was hurt by the deal, the patch he had with john kasich? mark: it did not play well in indiana. there was a sense that somehow this was foul play. these politicians should not be combining or coordinating the way they were, it left of bad
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taste in hoosier voters mouths. who wouldf the people have switched to ted cruz actually went to donald trump, maybe kasich supporters thought that donald was not competing him a they were not going to go to ted cruz, they would back trunk. rishaad: there is surprising for the republican party, but what about sanders? is projected to win the primary in indiana, which gives momentum and allows him to make the case he should stay in the democratic race. the delegates are awarded proportionally in indiana, which means hillary clinton overwhelmingly will not be dented much by tonight. but it ensures that we have a fight, and bernie sanders will make the case. rishaad: great talking to you. there on the ground in indiana, giving us his view of this night of surprises, tuesday's night of
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surprises there. up next, the australian finance minister joining us. talking about that. we also have the market open in shanghai, opening numbers and more next. rishaad: ♪ show me movies with romance.
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show me more like this. show me "previously watched." what's recommended for me. x1 makes it easy to find what you love. call or go online and switch to x1. only with xfinity. show show me more like this. s. show me "previously watched." what's recommended for me.
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x1 makes it easy to find what blows you away. call or go online and switch to x1. only with xfinity. ♪ rishaad: a look at the top stories, bernie sanders is willing the indiana primary for democrats, and republicans saying donald trump is the presumptive nominee. that after ted cruz quit the race after this massive thing and then they took aim at hillary clinton say she would be a poor president. the voters decided to go a different way. ted cruz: with a heavy heart, ,ut with a boundless optimism
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for the long-term future of our suspending our campaign. rishaad: mining stocks leading losses on the air after the interest rate cut in australia to get the economy away from the resources. the biggest loser, $44 billion civil suit over the novembers dam failure. as many as 19 people and caused environmental disaster. the yen still near 18 month highs, trading across all 16 counterparts, at 106. the boj governor kuroda is talking about harming -- says -- the bank of japan needs to use all of its available policy tools. we are going to the shanghai and hong kong open. david, what have we got? david: what a start up with the
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japanese yen. of japan, youk push,ther options, fiscal destructive reforms. we won't obligated. and we have what is on the left flank, the aggressive marketing stimulus. here is today's. range, 14irly wide hours. the yen has gone to one of 5.50. dollar-yen as high as 107, 40.107. little bit above it. but a lot of this has to do with the dollar value overnight, it gained against the yen, also major things in puberty market currency. this comes down to -- major things in emerging market currency. don't overlook the possibility that the fed moves in june. , itn stay the way they are
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gives real options. that is the key take away. dollar-yen also up, but not as much as the japanese policymakers want. how to the nikkei newspaper, pointing a finger on the amount that japanese exporters may have to take as a hit of profits this year the jets of the divers -- adverse move in the yen. ¥1 trillion. currency be a stronger domestically. aussie dollar's, back below $.75, and that is where it has held, 7487. ,his move if you look at it downtrend seems to be intact. you have the rba bringing race down to 1.5%. there are under pressure. terms of trade, it is looking like this.
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,e should have shanghai, manila and hong kong running, join the global selloff. it started in europe, went into wall street. america,latin argentina, brazil pretty much decimated over 2% and 3% losses. asia looking like this, only new zealand looking like again. -- a gain. this was up 2%, giving back half post rbaday's rba, boost. 5.4%. rish was pointing this out earlier. let's check about where we are as far as stocks. 8% now, as well as these other metal producers in australia. i will not go through each one, but one is higher. just to get that up, if you are curious, up 1%.
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let's flesh out these opening levels across the chinese benchmarks in hong kong. we have the hang seng, tied a deposit, china eight shares, these declines. these are levels at the moment, 3000 still. we are having trouble raking in and staying above 3000. eight shares have been sold off quite heavily. we are now 300 or so points below at 9000. i was talking about australia, look at the big names we are following. and looking at the banks, big boost, giving up most of those gains. spot as far bright as data was u.s. car sales overnight. if i remember correctly, it key of voters had the -- kia motors had the best. a little bit of improvement in market share, not unlike hyundai
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motor, which had a drop in sales volume. taking market share down two percentage points. that is open to take note of. as a whole, u.s. car sales seem to be the bright spot of the economy. arguably the only bright spot if you want to look at the perspective. rishaad: thank you very much indeed. let's look at some of the stories making headlines around the world. away from what is going on in the u.s. and those -- that remarkable turn of events of the indiana primary. bernie sanders winning, ted cruz withdrawing or suspending. russia and the u.s. have a cease-fire announced with this in aleppo. assad loyal to president tried to force the rebels out. a hospital was bombed. the u.s. hopes this will reach
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talks on ending the five-year long civil war. jerusalem court sentencing an israeli man to life for burning to death the palestinian teenager. he abducted this 16-year-old from his eastern jerusalem neighborhood in 2014, set him on fire. the family was in court to hear the verdict. the family condemned it. the messaging service has been reactivated in brazil after a judge struck down an earlier call to order blocking it for 72 hours. authorities want it to be handed over as part of a drug trafficking investigation. but they say they don't have the information for these phones, no important -- no intention of copper mining security for the compromisingrs -- security for the brazilian users. bloomberg newsg
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and i am rishaad salamat. which commodity is stealing the spotlight from chinese stocks? ♪
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♪ we are live in hong kong, streaming on bloomberg.com as well as your mobile device. the worst-performing seems to be this year, that has given speculators bear into commodities, everything from steel to egg futures. haidi looking at this. all egg trade, is it cracked up to be all that? pun. i do love a good we know they love a good speculative trade, and they are hitting commodities futures
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including eggs. if you want to bring this up, go to top china, and it comes up with all of these charts. egg futures on the down and community straight is, it has surged 27%. that,rple line is still up 28%. that is ahead of the london middle, use traders probably don't even know what they are dealing with given that read our is on the typical -- rebauers is not the typical investor. also count on bills -- cotton bales. quite an excellent and very number indeed. 24%cost of eggs is down in the u.s. china going away from global markets. and the frenzied buying we are seeing chinese commodities, that price swings.
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look at this again, the divergence between the shanghai, seeing low levels of volatility after that hummer route and is a culinary -- summer rout and those extra ordinary swings, that is why this is their. and the blue is futures, volatility going to pick up. looking at how volatile we are talking about, this bar chart showing the estimates of the average tenure of futures contracts, how long they are held onto for iron ore and sean hannity -- shanghai, less than four hours on average. compare that to wti crude, 40 hours. a lot of contracts changing hands at a very quick rate. volatility also worth mentioning. surging, and then a plunge 11%. pretty wild swings.
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the commodities exchange is put in place some curving measures to cool down the interest including shortening the overnight trading hours, but we are still see interest coming through here. in the meantime, shanghai has come down. equities has not been, it has been the worst-performing market. this is appalling to other alternatives. fit for this rally have staying? we will come back online and that will flood the market with this. this is what we are talking about with investors. rishaad: extraordinary run-up in chinese markets led to the conservative prices may not be more than reality. but we have more from sydney. are some of these trading things impossible to square with real
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activity? that is what i want to get to. david: yeah, it is pretty extra ordinary you look at some of just numbers that haidi ran through. one persons at speculative bubble is another person's liquid market. you look at gold, what makes gold contrast, 17 million of those, the equivalent of 70 million assets, that is like the whole mine since 2001. it is traditional thing in markets that liquidating is going to run ahead of real demand, that is how you price discovery. not necessarily the reason things have got out of whack. to some extent, the bigger worry would be nothing less the futures market are speculative, but that is eating up real changes in china's economy, and we are seeing a bubble in the real economy rather than just the market. rishaad: how can we be seeing a
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pickup in demand? there is quite significant in demand that we would justify these price hikes. david: yeah, you have to bear in mind what is happening in china and what the government is doing. they have seen some pretty weak courses of demand, and they have announced publicly a stimulus of activity. also, look at house prices. in tier one cities, house prices are growing at 29%, highest on record. it would be extra ordinary if that was not causing response from house builders and construction activity. you'll get contracts, and is striking that going to rebounds, spot prices are running at 10% at least ahead of futures rices. the is traditionally a sign that they have really to be going on,
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because it is hard to make money from a speculative trade if you are buying stocks and selling futures for less. but look at cement prices, chinese meant prices, no real futures in cement. but the finest weeks on record so far have been on recent weeks. andhere is reason to think, credit suisse has been arguing, there is a pick up in a investor activity. one of the things fueling this. rishaad: ok, why is a pick up in real demand more worrying than actually a market bubble? , i guess it isll a question of choosing your point for which sort of bubble you want to have renewed maybe it is helpful to compare this to things we have seen in south china and outside. this is a speculative market bubble, we look at the.com bubble or the chinese stock market bubble from last year.
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this is where the main players are exposed, if they were a professional market, they have fairly well hedged positions, and if they were retail, they have closed out positions once they started losing money. in general, it is a bad hangover for the economy. but the real bubble, it is more like the 2006 subprime bubble in late 1980's,he early 1990's bubble and japan. that is upping big much more worrying, because then you end up with homeowners defaulting on loans, bank owners whose loans are losing value, companies whose deaths are being extended rather than lending being spent on more profitable things in the economy. i would rather see a perspective bubble in dolly rather than this situation. that.d: thank you for
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joining us from sydney. we are going to look at india, because we have this drought, and it was a real struggle. two years of poor monsoon rain, all of that hurting agriculture nd rushing up food costs. and economic growth could be hit as well if the rain fails again. we have a report. reporter: these are among the hundreds searching for water. after two years of poor monsoon's india is suffering one of the worst rout since independence, nearly 70 years ago. this man is one of those water commuters, covering nine kilometers to fill his dairy cans. two days a week, and the need to carry home even more. >> it is very stressful having to navigate the crowds, but i have to do it. we need water to drink after all. as mumbai struggle to
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deal with water shortages, ever more people are flocking there to successfully escape. about 60 families live in this makeshift camp on the outskirts of the multibillion-dollar capital. many are poor farmers and laborers and abandoned jobs and in some cases their families in search of water and work. the activists who set it up expect 1000 more people this month. the severity of the drought is clear. meters from mumbai, this dam once supplied enough water for three towns and several villages, but there has not been enough rain in three years. the annual monsoon usually delivers 80% of the rainfall between june and september. it is crucial for the 800 million or so of the 1.8 billion people who rely on agriculture as a living. >> economic activity depends on
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water, and that is complete stopped, because there is no water. nothing grew in the farms, and there is no work, so there is no money. farmers and laborers are in great difficulty. reporter: the initial man used to raise buffalo. drink,ey seen water to thanks to a cattle shed, he is managed to keep five animals alive. there is no other work back at home. my fields are. , so this is my only way to earn a living at the moment. reporter: that small income may not be enough. this year the forecasts is another poor monsoon. but if rains do not,, they may sake help in mumbai, leaving buffalo behind. rishaad: let's look at other
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stories we are watching. the overuse of trading in the chinese markets will be a key obstacle to msci inclusion. we conducted a poll of fund managers and found 16 believed suspensions are the main hurdle to inclusion. regulators even need to ensure widespread trading of those, 12% on the shanghai exchange are still currently suspended. the u.s. expected to be the headline with earnings reports later on. this company is expected preliminary results, earnings-per-share 32% higher than the consensus over the initial report. they did not specify which region grew. last year, china was 50% -- 15% of title sales. wall street is starting to feel threatened by advances in international technology.
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the biggest fear is for loss of jobs, more than half of the ethics -- asset management firms will be hit. wall street executives in los angeles have said the entire finance world could fear job replacement. , [indiscernible] reaction onok at social media. ♪
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rishaad: there is speculation google had access to 1.6 million health records in britain. yvonne is looking at that. let's start up with the health records. why does google actually want this data in the first place, and who will give it to them who are butne: it is for research,
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they did get access to more than one million health records, three london hospitals. patient records going back five years ago and continuing on to 2017. they are given this information calledlop a health app stream, and it will be like in early warning system for doctors including patients at risk of acute candy -- kidney injury. it will sound an alarm or something when doctors have the app and patients are at risk of this. the coming up the u.k., asking why does google need the data of all patients when you are talking about an app that is so specific. some say the most private medical data including full names given to corporations without our knowledge or consent . another person saying, and i the only one slightly terrified by this? it is hold asian histories going to be given to google.
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-- whole patient histories. rishaad: yes, so there we go. yvonne: yeah. rishaad: at the end of the day, you do not want your private details, and what about doctors with hippocratic oath? .et's not dwell on this let's just move to google for another reason. yvonne: the tie up to test drive the autonomous cars with fiat, and the pacifica minivan. driverless minivans. they are going to develop about 100 self driving prototypes. they will not license any of the google technology, but this is the test fleet. some people saying, driverless minivans, that is a snooze fest. you want to differentiate from tesla motors, you have to be boring. this is google's first tieups
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with a major kite -- carmaker since they started developing the technology in 2014. i feel like the wind market is going to sign market. soccer moms and dads will love this. how do you feel about this driverless minivan? yvonne: -- rishaad: even if it were fine, i love driving, so i am not really into this idea of being in control when i'm not -- seriously, not when it comes to generally day to day use, it is great fun driving. yvonne: we talked to the ceo of chrysler, back in december about the partnership with google and said, the industry has to consolidate, let's not waste money on developing multiple versions of the same technology. we need to face the facts and this is a part of evolution in the transportation business. rishaad: let's have a look at what we have coming up. japanese yen again in focused.
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it has 18 month highs. how long before we see intervention, disgusting that in the next business. ♪
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♪ announcer: from our studios in new york city, this is "charlie rose." are, a man there you who you call his creative spouse, you talked to him as much as he talks to his wife. how did this begin? this working relationship? >> i would be curious to hear your version of this. if you want to go to the room where it happened, i remember

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