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tv   Charlie Rose  Bloomberg  July 27, 2016 10:00pm-11:01pm EDT

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backed bythe galaxy, shares here, as well. twitter, me on #trendingbusiness. asian-pacific markets tracking decision, andan what that is saying about the economy, all being digested here with juliet. waiting to see what the central bank in japan is going to do after prime minister abe made that stimulus announcement. we do have the yen very much on the rise, around 1% today. weighing on the overall regional high afterve-month the earnings came through, beating their market estimates. concerns about
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potential federal regulations to the management products. we have seen downward pressure coming through on a number of financial players. in hong kong, weakened oil price weigh on a number of energy players, as well. we're waiting for their unemployment rating coming through. .7%, it is likely they can pick up 2% from 1.9% in june. downward pressure coming through on that market, although they have opened higher by link to 5%. assets likesafe haven a the yen and gold, they have given a good news to australia's market. you can see those at gulf stocks a doing well, also still on the rise. we have seen downward pressure coming through from some of the today, and new
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zealand coming off those record highs. a look at the japanese yen as it continues to strengthen, it has been pushing about -- up down about .3%. the aussie dollar had a very volatile day yesterday, the cpi number coming through. it reached .25% higher. rishaad: thank you. loads of earnings. samsung electronics out with impressive numbers, giving -- money back to shareholders. let's take a look at this buyback, first. back money toing shareholders, you are looking at a dividend of about 1000. i am just looking at where stock rises are at, it is a small drop in the pond, if you will. shares trading well over $1 million, of course.
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the fourth and final buyback of shares, we are talking about $1.6 billion, $1.8 trillion, more in favor of other shares. revenue $44 billion, operating income $7 billion, all the way down to net income, $5 billion. what is interesting is the breakdown. rishaad: to be prospective business do, they have so many different lines? david: i think that is very important, we were talking about apple yesterday, clearly a mobile, handset, and so forth. , it you talk about samsung is not just about telecom equipment or mobile business, although it is right now one of the biggest profit drivers for samsung. it is also about consumer electronics and semiconductors.
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how did it divide up? million sold over 50% from the second quarter of 2015. that will be interesting because the guidance from samsung, they are using -- looking to sell the same. that is about $1 million a day. semiconductors, about a third of the business. it used to be half of the profits last year. not just a function of the mobile business factor. profits for semiconductors actually sell by about a quarter. another key take away when you look at this, mobile and semiconductors basically flipped. the used to be semiconductors were half. so let's see how this plays out, stock is down just under 2%. rishaad: getting back to the dnc, the democratic national convention in philadelphia where the vice presidential nominee
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tim kaine is on stage. supportbe getting his to the presidential nominee, of course, hillary clinton. he is just coming up to the lectern, here is a little peek at this. ♪ rishaad: just a little bit of background as we get into tokyo, of course, the virginia senator from virginia. bit of a surprise that he actually was selected. and he is that
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senator from virginia. the man, tim kaine. >> i want to start off by thinking my beautiful wife, and, -- ann, and my three beautiful children. they are sitting right up there. [applause] son nat, deployed with his marine battalion just three days ago. [applause] >> he deployed overseas to protect and defend the very nato allies the donald trump says he wants to abandon. semper fi, nat. semper fi. [applause] my in-laws arend
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nephews, andand hundreds of friends from virginia and beyond. i love seeing you front and center. including my friend of 37 years, senior senator mark warner. my great governor terry mcauliffe, and my great friend and congressman, bobby scott. we love you all. today, for my wife ann and every strong woman in this country, for my children, and every young person starting out in life to make their own dreams real, for every man and woman serving our country in the military at home every working
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family working hard to get ahead and stay ahead, for my parents and in-laws, and every senior citizen who hopes for a dignified retirement with health care and research to and it endases like alzheimer's -- , forses like alzheimer'sr every american that wants our country to be a beloved community where people are not demeaned because of who they are, but rather respected for their contributions to this and for all of us who know that the brightest future for our country will be the one that we build together. and for my friend hillary clinton, i humbly accept my parties nomination to be vice president of the united states. [applause] >> think you.
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-- thank you. [applause] >> cannot be honest with you about something? i never expected to be here. but let me tell you how it happened. i was born in minnesota and grew up in kansas city. [applause] >> my folks were not much into politics, my dad ran a union iron working shop in the stockyard. mom was his best
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salesman. i hitchedthers and into work summers and weekends, and that is how small family businesses do it. my parents here tonight and going strong. they taught me about hard work and about kindness, and most especially, about-face. -- about faith. i went to a jesuit high school. that is a big line for the jets with -- jesuits. we had a big motto at my school, men for others. became something vital, my northstar for orienting my life. when i left high school, i knew i wanted to battle for social justice. like so many of you. that is why i took a year off
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from a law school to volunteer missionaries, i talked about how to be welders and carpenters. [speaking spanish] faith, family, and work. >> [speaking spanish] and let me tell you what really struck me there. at a a firsthand look different system, a dictatorship, a dictatorship where a few people at the top had all of the power. and everybody else got left out.
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now that convinced me that we have to advance opportunity for everybody, no matter where you come from, how much money you have, what you look like, how you worship, and who you love. [applause] virginia, a970 in republican senator believed exactly the same thing. he integrated virginia's public schools so that black and white kids could finally learn together. and then the family and rolled their own kids, including their daughter, in those integrated, inner-city schools. went off toater ann college and took those lessons with her. one day and a study group, she met this goofy guy who had been off teaching kids in honduras.
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ann and i have been married almost 32 years, and i am the luckiest husband in the world. let me tell you something, ann's parents are here, 90 plus, and going strong. lynwood is still a republican, but he is voting for an awful lot of democrats these days. and here is why. he is voting for democrats because any party that would nominate donald trump for president has moved too far away from his party of lincoln. [applause] you, if any of you
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are looking for that party of lincoln, we have got a home for you right here in the democratic party.. -- rishaad: that begins the democratic national convention, of course, the vice presidential nominee there. let's now catch up with some other stories we are watching out there in philadelphia. a good time at the event, we're talking about the social event. >> facebook knocked it out of the park, based on better ad sales for video and instagram. that second-quarter revenue climbed almost 60%, and they pulled in around $6.5 billion. profit was $.97 a share, they exceeded estimates of $.82.
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they make most of their ad revenue from mobile. more than 1.1 billion users every single day, so some very good results for facebook. a long way from its ipo in 2012. video app front looking promising. antendo came in with quarterly loss, and they blame that on a stronger yen, and weak you consuls.ts wii reflect thedo not impact of pokemon go. wait for the next set of quarterly results to see those filter through. nintendo has delayed the release of its accessories for the hit game. was probably their biggest hit pre-pokemon. biggest mobile messaging
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service posted a profit in its quarterly earnings. t(the first report since its ip, net income rose over $24 million after a loss of almost double that a year earlier. its parent company jumped in the second quarter, and that beats estimates from the analyst. later in the program, president obama addressing the dnc at the democratic national convention. what he thinks hillary should succeed him. this is bloomberg. ♪
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rishaad: let's have a look at ,ome of these thinking shares falling insurance income. let's get more on this and get to our southeast asian correspondent.
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>> it difficult times, just look at the numbers for oc bc. there was a drop in prospects, looking pretty weak in terms of our key numbers, down 15%. ofare looking at a lot money, and analysts were expecting $663 million. we know there has been a contraction in loans and income from insurance. all.t helping ocbc at when you look at interest margins, they are under a lot of pressure. dollar weighing on rates. given that it downgraded its outlook for bags in june. it is concerned about a couple things, weaker economies, weaker trade growth. also, concerns over the worsening quality of loans, especially to energy companies. arear as the banks concerned, they are heavily exposed and heavily reliant on energy-related companies.
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still, having said that, we saw uab blocking the trend. they beat estimates, it rose 5%. they said that they would stay vigilant, and they know the challenges ahead. they are setting their sights on the long-term prospects. gic -- i confess, i had not heard of this before. there was also a drop, dropped the market returns, why is that? gic, singapore is and in down to about 4%, march, a year ago, it was 4.9%. it is simply because the markets have not done -- well at all. whether globally, or in asia. i will show you this particular graph. it shows how gic's returns a
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been under a lot of pressure. and the pain will not be over anytime soon. they say, expect a lower return, the same warning from their state-owned investment company. they say it is because of low yields, stagnant growth, inflated valuations. so, return will be muted. it is not just the next few years, you can expect it to happen in the next 10 years. let's show you come in terms of holding, what gic has in its portfolio. 12% in the.s., eurozone, and intensive allegation, -- location -- allocation. has that means, is gic taken a more cautious investment position, a very calculated move forward. it challenging times ahead. quickly looking at what
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they are doing at the moment, they took charge of more than $1 billion last year. it is down to that dam collapse in brazil. let's get to paul allen. p's shareffectively bh of a reparations deal, right? owned by paulo is them. it will be between $1.1 billion and $1.3 billion. it is approximately equivalent to a half ship -- half share. this is a deal struck from the second of march. people were 19 killed, and there was a lot of devastation downstream, and a lot of pollution continuing to need to be cleaned
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up. this affects the environment, this tragedy. you will see this charge appear report, due ong august 16. if we check the stock today, it is up one and a third percent. fair to say the market saw this coming. the iron ore price was up, as well. samarco,me are go -- it was the second-biggest producer of iron pellets, they were hoping to be up and running in 2016. samarco is experiencing cash flow problems as a result. rishaad: thank you. having a look at what the plunge in sterling did. this occurred after the u.k. brexit vote. theas taken the fizz after
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$100 million deal. ramy inocencio is in new york. ramy: it has only been one week since they approved the acquisition of sab miller. that deal has been halted by the takeover company itself. that is because of the plunge in the pound after the uk's vote for brexit back on june 23. it has fallen 11%, and is much on13.25% at his lowest point july 7. they get a bum deal because of that and want more money. dive into the bloomberg and looked at the impact. on october 13, it would -- it has gotten cheaper for ab inbev. that is a discount of about 10%.
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raise from 44o pounds, but that is not appeasing some investors. that is just a 2.25% raise in the all-cash offer. ifl-acceptance depends on you're a big institutional investor or a smaller one. also, if you have cash and stock options, or all-cash options. for example, the u.s. cigarette bevmo and have mode -- both have stock and cash options. they now expect to get $500 million more by taking that cash and stock option, according to the wall street journal. but they still undervalue sab miller. bid is because the all-cash has not estimated as much. they are now looking over that proposal. shares closed down for all related parties, down about 3%,
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sab miller down by 2%. and others, 5%. remy and a sense you, bloomberg news, new york. let's tell you about day, nikkeienign closing its morning session with a lot about .8% -- a loss of about .8%. sengin hong kong, the hang trading down. policymakers took a step toward raising interest rates later this year. the move could come as soon as the next meeting. there are near-term risks diminishing, which are at the fueling the thinking out there, but could be headed for
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an interest rate hike sooner rather than later. this is the scene at the moment, tim kaine, the vice presidential nominee there in philadelphia. president barack obama will be honest in. ♪
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?c+sv rishaad: asian-pacific stocks
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mainly down, investors digesting the latest policy decision, choosing to keep interest rates unchanged. it did upgrade its assessment of the economy. attention shifts to the bank of china. announced a fiscal spending package. soeul, a buyback. we also have aggressive count.
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this helped to beat estimates in third-quarter profits. mark,g the $5 billion benefiting the sluggish iphone sales. shares under pressure after a 15% slump in quarterly profits, loans have fallen, and insurance income. net income of dropping to $600 million. slower trade growth in this part of the uab, united overseas app, with profit gains for the same timeframe. japan heading off for its lunch break, the yen come back. juliet is having a look at what is going on. juliette: a little turnaround since we last spoke. we have seen the shanghai asian .25%, and hong kong looking pretty flat. we have seen some weakness on
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the nikkei. but heading on that lunch break, earlier losses as well. we have seen losses of more than .7%, looking at hong kong, we have been seeing some weakness in these energy players. the company stocks looking quite good. that is a turnaround from what we have seen in the chinese property market yesterday when we saw quite a few of weakness coming through shanghai. shanghai now positive, singapore down three quarters of 1%. korea up .4%. and, thd australia, we had export numbers coming through there. up .4%, new zealand coming off those record highs, .2%. thesehave a look at how
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players are faring. nintendo down 6%, its first-quarter profit was wider than what the market was looking for, no reaction to the pokemon go game. that was not in today's results. electricctric -- alps is the front runner on japan's market. softbank down .9%. analysts say there could be an upside. aiaung reporting in korea, .3%, even though its operating profit rose in hong kong and china. and this is the future of those gold stocks. thank you, juliet. let's go back to philadelphia for the democratic national convention. tim kaine is speaking there.
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saying he trusts hillary clinton with his sons life. at the beginning of the speech he was talking about his son being deployed with marines. it doesn't seem the democratic to disaffected republicans, should they want to come. they also talked about security concerns, as well, and accusing donald trump about his transparency when it comes to taxes, asking whether he is saying, donald, what are you hiding? and questioning whether donald -- hisng his there share fair share of taxes. we are also waiting for president barack obama to address the convention. that is coming up a bit later. but this is the vice presidential nominee. not rico, rich.
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means in spanish is battle-tested, rocksolid, up for anything, not backing down. and friends, hillary clinton, she is. hillary clinton is lista. ready, she is ready because of her face, -- faith, she is ready because of her experience, and she is ready because she knows in america we are stronger when we are together. democrats, this week, we start the next chapter in our great and proud story. thomas declared all men are
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equal, and, remember the women. woodrow brokered the peace, and eleanor broke down the barriers. jack told us what to ask, and lyndon answer the call. , and harvey dream gave his life. bill built a bridge into the 21st century, and rock gave us hope -- barack gave us hope. is ready tohat -- fight and win and lead us to victory. thank you, philadelphia. we have the top mostrats making their forceful case yet for a hillary clinton presidency. we had just been hearing from the vice presidential nominee, that is tim kaine. let's get to another convention.
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kevin joining us. both of the president and vice president are taking to the podium today. we have heard from joe biden, we are waiting for barack obama. what about tim kaine, what did he say and how was it received? >> the crowd received a pretty well, as you can hear behind me. tim kaine largely introducing himself tonight to a national audience. talk about his time in the senate, as well as governor. he made a direct pitch in spanish, he also singled out senator bernie sanders to unify this democratic party. aboutf them kind of upset his position on the transpacific partnership. he also challenged donald trump to release his tax returns. and lastly, he praised hillary clinton, signaling that this is a woman who is ready to be commander in chief, bolstering her foreign-policy credentials,
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but i think we will hear from president obama in the future. rishaad: what more will we be expecting from president obama? thatthey tell the audience she is tough on national security? that is one of the things that is emerging. >> republicans have criticized democrats at this convention for not addressing foreign-policy enough. so i think what you can expect from president obama is delivering a clear remembrance of all of the times it served in the state department, taking on, with him, foreign-policy issues, and taking on isis. viceard this from president joe biden, directly alluding to the killing of osama bin laden. this tonight is a true test. republicans have been hammering her on this issue for months. kevin, thank you so much for that. democratic national
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convention taking place in philadelphia. note, on bloomberg highfliers we will speak to the granddaughter of a chinese billionaire. in spent much of for life hotels. but she said leaving the rosewood brand is a challenge. i was surrounded by hotels, my family has developed hotels for a long time. it wasning a business, definitely my first time. to convince the professionals in the industry from all these successful international brands to come over was a very challenging task. i think it was very exciting for them to be part of the young company where they can roll up their sleeves and create a culture from scratch. rishaad: you can watch more of that interview with rosewood's
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ceo. 8:00 in the evening if you're in sydney. let's get back to the dnc in philadelphia, we are continuing to watch events there. these are live images. and, an introduction for president barack obama to speak. ♪
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rishaad: quick check on the latest business flash lines. look at indonesia, sworn in in jakarta. she returns to the post she held -- 20052000 and five and 2010. hoping the amnesty will help him with infrastructure while keeping the deficit under control. india may be one step closer to implementing massive overhaul in
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taxes, legislation would allow for a national sales tax. scrapping a law that would allow for an additional 1% charge on interstate sales. a proposal has been stalled in upper house of parliament. china is said to be weighing tighter rules for management products. shattered financing risk, a source telling us the regulations are designed to protect mass-market investment, and give investors enough capital to cushion against losses. potential threat to the financial system. we are and have been going to the democratic national convention. -- we are looking at the mood. what is grabbing people's attention? >> we have heard speeches from joe biden and tim kaine and
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obama's upcoming speech. rishaad: the rivalry. >> and the rather unusual speech unusualald trump, the press conference where he made this comment, seemingly suggesting that russian hackers should go over after those hillary clinton e-mails. and we can take a listen to what he said in that press conference. mr. trump: i hope you're able to find the 30,000 e-mails that are missing. behink you will probably rewarded mightily by our press. >> there has been a lot of comments about this, it is a rather unprecedented thing for a potential candidate to say. there was a quote from a lawyer who specializes in security and said, it is probably the most egregiously stupid thing i have ever heard a party nominee say,
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ever. and there is probably a legal case to be had against john. rishaad: the thing is, we wanted to look at what is going on social media-wise, but this is dominating the headlines, donald trump again. let's look at what it says about the dnc and their comments. >> that is possibly a bad thing. i am sure he is tuned in somewhere. s spokespeople said this comment was made in jest, and did not wantnit -- them to actually go after the e-mails. they released 29 audio recordings from the dnc, people discussing those. not as exciting as the alleged russian hacking e-mails they released earlier in the week. of course, conversation about what obama will say, lots of people saying he will come out and name trump quite a few times in the speech.
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a peek attime we had his speech, and he will be taking the gloves off, according to them. rishaad: thank you. it is barack obama, he is minutes away from the dnc. in, speaking to that lectern philadelphia. ♪
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rishaad: we're back with
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"trending business." a look at the latest business flash headlines. boosting employment after the break that vote, the new roles that the fast food group will take. committing toin the u.k., and a pharmaceutical giant announcing investments. fell, 1.7%er profits down. it is a stock market slump in japan leading to a drop in demand for grocery services. to $233may drop million. the vote to leaving the european union led to less individual trading. an 11% drop in quarterly profits, the strength of the
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yen. in line with the japanese carmakers report. mitsubishi motors sold the stakes in this emissions scandal, a $1.2 billion quarterly loss of its sales domestically. 225 leading the rest of the region down. on their lunch bring, looking what is driving sentiment. >> we have been seeing weakness in japan, going down .7%. we continue to see the yen weakened, and as we wait for the bank of japan to come through, monetary decision. we did have that surprise from prime minister abe with it that two to $65 million stimulus package. million stimulus package.
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it did start to turn positive, but weaker now. australia the front runner. we did see a lot of it coming through. interestingly, if you take japan we of the regional index, are seeing some upsides, particularly and that basic materials sector. by 1.1%. .9%ness coming through, down there. weaker crude products play into things. today seeing the pboc strengthen the one -- yuan. the japanese yen has been the one that we are very much focusing on. it is still seeing upward strength of their. although, up .4%. the aussie dollar tracking
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higher as well because we have ,ad a general upturn in prices up .3%. also, expert prices coming through. they rose 1.4%. a little bit of downward pressure there, in terms of expert prices. iting a look at softbank, will report after the bell, and analysts say there could be some upsides, particularly to its also, wesiness, and are waiting to hear what they say about that $32 billion acquisition. we did see down by .9%. certainly, things looking mixed in terms of asian equities. there is an upside in taiwan and shanghai. australia, generally a bit of weakness. and still awaiting that report from singapore. let's have a look at
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aia. boostt did do there was a in profits. it is asia's third biggest , despite the% chinese crackdown on insurance policies. that is all part of a bid to curb capital outflows. >> they continue to be strong, we have seen a trend in the last into hong kong buying insurance. 250,000 after 46 million visitors, so it is tiny. the opportunity remains significant. japan's monetary policy taking a toll on its biggest lenders. first-quarter profitst( fell, a
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negative interest rates eroding lending there. there may be more pressure if the boj lowers rates further. that, sumitomo unchanged. toinema line has agreed purchase a chinese line that sells tickets -- movie tickets. for $280 purchase it million in cash. the operational team has a view to turn it into an international film marketing site. nintendo, a worse than expected quarterly loss. -- net lossg down through the end of june was $232 million. nintendo keeping its profit
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has ak, and pokemon go -- has an accessory for the popular app. report since raising $1.3 billion in its ipo. over $24 million after a loss of almost double that a year ago. the profit they are jumping to $239 billion, shares remain unchanged. the scale you back to philadelphia where we have president barack obama taking center stage there. nations tophe democrats rallying behind hillary clinton, making perhaps the most forceful case yet for the presidential nominee there. of course, the national security experience, that is something we heard from vice president joe biden.
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they are blasting the republican nominee, donald trump. essentially, saying he is unfit for the presidency. a lot of speakers here, as well. we have joe biden, the founder of bloomberg, mike bloomberg, and the vice presidential nominee, tim kaine. this is an attraction for this evening. president barack obama. we have some choice quotes coming through from joe biden, as well, questioning how there sayinge any pleasure in -- the criticism of donald trump in his reality show "apprentice." anyway, this is the start traction, this is the president, barack obama. [applause] pres. obama: thank you. thank you so much am i thank you
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everybody. thank you so much, everybody. thank you. everybody. [applause] pres. obama: thank you. thank you so much, everybody. i love you back. [applause] pres. obama: hello, america.
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hello, democrats. so, 12 years ago tonight, i addressed this convention for the very first time. two little girls. amazing young women who fill me with pride. my brilliant wife and partner, michelle. who has made me a better father and a better man, who has gone on to inspire the nation as and, who somehow,
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has not aged a day. [applause] i know, the same cannot be said for me. my girls remind me all the time. wow, you have changed so much, daddy. then they try to clean it up -- not bad, just more mature. [laughter] true.obama: and it is i was so young that first time in boston. [applause] and i will admit, maybe i was a little nervous addressing such a big crowd, but i was filled with faith. america, the generous,
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thatarted, hopeful country made my story, all of our stories, possible. a lot has happened over the years. and while this nation has been captive by war, tested by recession, and all matter of challenges, i stand before you again tonight, after almost two terms as your president to tell uim i am more optimistic about the future of america than ever before. how could i not be? after all that we have achieved together, after the worst recession in 80 years, we fought our way back. we saw the deficit come down,
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recover, auto industry set new records, unemployment reached a year lows, and businesses created 15 million new jobs. [applause] after a century of trying, we declare that health care in america is not a privilege for a few, it is a right for everybody. [applause] after decades of talk, we finally started to wean ourselves off of oil, and increase production of clean energy. we brought more of our troops home to their families, and we delivered justice to osama bin laden. [applause] pres. obama: through diplomacy,
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nucleardown iran's program. we opened a new chapter with the people of cuba, brought nearly 200 nations together under a climate agreement to save this planet for our children. [applause] we put policies in place to help students with loans, protect consumers from fraud, cut veteran homelessness almost in half. and through countless acts of quiet courage, america learned that love has no limits, marriage equality is now a reality across the land. [applause] pres. obama: by so many measures, our country is stronger and more prosperous than it was when we started.

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