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Bloomberg
Jun 1, 2014 7:00pm EDT
>> signs of recovery. china's recovery growth at its fastest pace in five months. >> summit trade and regional security. >> the heat is on. the hottest on record in australia. welcome to "first up." new trading week, new trading month. angie lau streaming on your mobile and bloomberg.com. our top story this monday morning, the latest health check show china has signs of a recovery in may indicating the worst of the slowdown may be over. hat does the data show us? >> it is sort of an invisible floor. they nt don't want to to slow too much. you look at the range of forecast. ou look at 50.8. it was, by no means, a wonderful surprise. if you look at what smifts -- economists have been saying, it is not as strong as in recent years. improvement was quite minor. a lot of them were expecting it to be quite larger. if you look deeper, there are several things to note. new orders was at its highest in six or seven months. employment dropped firth, meaning less firms expected to higher. it could mean perhaps they are more productive. what it could mean is social cabblet. >> of course, soci
Bloomberg
Oct 15, 2015 7:00pm EDT
later in the session. the kfc and pizza hut chains struggling to revive lucrative business in china. it could be a step closer to finding a dramatic solution. we are following the story with all the details. yum brands appointed a new board member, this is triggering speculation as to what yum brands'future strategy can be. >> according to keith meister, just named to the board at yum brands, strategy could spin off the china business. this would be stunning reversal for company that saw great fortunes in china in recent years, china business we know, past year, really struggled, slowdown in china, as well as food safety issues that have driven some customers away, particularly from kfc, big popular brand. chicken is popular in china. kfc brought home the earnings for yum brands for many years, but not the case now. pizza hut really struggling. to theeister named board, a year-long strategic review. the company saying that it is close to concluding review of strategic options. satisfy some investors who are very concerned about the strategic direction of the company. angie: we know
Bloomberg
Aug 9, 2015 7:00pm EDT
which one they fire. thank you so much. it is the market impact of this disappointing data in china that we want to focus on. standing by with an early look at financial markets with this new treating week getting underway. we saw the markets in china finishing on a positive note and that may give a lift on the expectation of further stimulus, given these is the economic numbers. on friday.at we saw shanghai composite closing at 2.5% -- 2.25% higher. index trading 50 marginally higher, the only market at the open. we will haveonline a better sense of how this week is shaping up. we will be watching the response of the chinese government. we continue to see this quantitative easing increasing by the pboc and following the latest reserve numbers. falling in july as the pboc moves to study the currency amid the market volatility. we have headlines allowing a one flexible view three and to give you focus on the -- expo view. china -- flexible view. -- missingt and its estimates. let's take a look at what we are following around the region. latest economic numbers out of japan ahead of t
Bloomberg
Sep 27, 2015 7:00pm EDT
angie: cleanup plans. bw says no china made cars are involved. germany demand they fix it strategy next week. attacking the hackers, washington and beijing a great and new tactics. obama says sanctions are still a possibility. made in india. zuckerberg reveals facebook's history. welcome to "first up," i am angie lau coming from hong kong, streaming on mobile and bloomberg.com. markets in asia, the first trading day in the week. new zealand climbs actually higher. the new zealand dollar is at $.63 u.s. cents. let's go over to japan. 225y 225 last -- nikkei closed up. futures in chicago point to a lower open this morning in asia. dollar-yen, a few markets closed. no training in hong kong after the mid autumn festival celebration. south korea is closed for harvest moon day. to the top story, reports from been given 10 has days to come up with a plan to fix it's in missions scandal. new details about the global scale of the issue. vw says no cars made in china were affected. shery ahn has the latest. shery: it continues to expand. the deadline is nearing. told vw car regulator to have
Bloomberg
May 31, 2015 7:00pm EDT
another greek deadline slips by. china's toughest rules against smoking. welcome to "first up." i am angie lau, coming to you from hong kong. a number of markets closed today. no trading for new zealand and thailand because of public holidays. we are counting down to the opens in australia, japan, and korea. japan, nikkei climbing for an 11th days straight. longest winning streak in 27 years. the last one was 1988. .1% higher. futures indicating that maybe we will snap the winning streak. dollar-yen holding steady. , the u.s. as today the investigation into corruption in world soccer is widening. more arrests are on the way. president insists the trail will not lead to his door. we take a look at the story that has really fascinated fans around the globe. reporter: the world's most popular sport. sepp blatter winning another term in the presidency and coming out swinging. he is trying to fight back against the allegations. he is saying individuals involved need to be responded -- responsible for their own actions. interesting to hear those comments from mr. blatter. a lot of strong w
Bloomberg
Dec 13, 2015 6:00pm EST
oil sets the tone. sinks to 37 point 93. its lowest level since 2008. china, are alll rising in easing some concern ahead of the fed's crucial meeting. and some are expected to return to trading. it has been helping with official inquiry. common to you live from bloomberg's asian headquarters here in hong kong and streaming on your mobile and bloomberg.com. australian equities down one third of 1%, despite better than expected data coming out of china. dollar's weakening, 71 u.s. cents. are seeing equities in a downward trajectory come 8/10 of 1%. u.s. cents. we are counting down to the openings in japan and korea. we look at a very important survey. futures check this out below this 19,000 spot. weakening. -- after being suspended on the disappearance of its chairman. the company's president has now hasirmed that its president been helping with an official inquiry via we have heidi here with the latest. more details emerged over the weekend. heidi: a lot of speculation over the last four or five days. during the weekend we heard from is president who said gore assisting in proc
Bloomberg
Jan 3, 2016 6:00pm EST
a brand-new trading year. not much has changed in china. that to speed economy. manufacturing is continuing to weekend but services are continuing to gain strength. steve: same old story. pmi coming in with contractions just below 50. let's bring up the bart chart. five straight months below 50 for the pmi. basically five straight months on the downside. we had some stimulus, and the first part of the year. the stock market rally in june. now we have had that streak of five straight months. the longest streak of contraction since 2009. this is the old drivers of growth. they are trying to rebalance this. not too much of a surprise. we had six interest-rate cuts in the last year and a month. targeted stimulus measures. not really feeding into the old drivers of growth. the best we can say is we've seen the bottom. services.e seeing is 54.4. government'sto the playbook that we are in the process of rebalancing the economy. telecoms, banking, property. taking a bigger portion of the economy. is it enough to pick up the slack? we are also getting that private gauge of pmi. steve: tha
Bloomberg
Sep 7, 2015 7:00pm EDT
♪ angie: where is the money? china's biggesest companies face declines as state backed funds appear to dry up. policymakers's losing confidence in the face of weakness. and the rupiah sinks to its lowest since the asian financial crisis and worries about indonesian debt. ."lcome to "first up i am angie lau. let's get right to it. let's check in on the markets in asia. .05% higher.s but we saw big falls on friday as well as yesterday. we are counting down to the open in australia, japan, and south korea. this is the view from japan. yesterday climbing .4%. futures in chicago pointing to a lower open. we saw massive volatility in japanese equities yesterday. times.ched direction 15 119.26.en holding at markets continue to swing in china as it returns from holiday. shery is looking ahead to trading. we are hearing china is considering a circuit breaker. over: not surprising that the weekend, we kept hearing suggestions from the pboc governor and the regulatory commission that they may act to get volatility out of the way. what we are hearing is that the circuit breaker will be tied to
Bloomberg
Jul 14, 2015 7:00pm EDT
made the differences. jamie dimon on the conference call talking about confidence in china. management, we have always had the way we treat that is we will be prepared for tough times. it is a mistake not to grow because you have tough times. su: the earning spray continue. big focus on yum! brands. kfc, pizza hut, and others. estimates, thets china segment of the business remains mired in slums three revenue falling to $3.11 billion. yum! brands gets half of its revenue from china and it is reeling from the food safety scare and avian flu outbreak. also seeing more competition from local restaurants. recovery is a slow process. looking ahead to the wednesday session, a lot of focus will be on janet yellen's semiannual testimony before lawmakers in washington. the question on what she is going to say about the lift off, she is not going to commit to any timeline. back to you. angie: thank you for that. story, it ran is set to return to the global stage and world oil markets after agreeing to a historic nuclear deal. strict limits to to its program. they called the accord a
Bloomberg
Sep 28, 2015 7:00pm EDT
of weakness from china. amazon and facebook have pacing declines for tech and internet related shares. the best some of performers out there suffering from selloffs. alcoa is also in the spotlight. they are the top aluminum maker. the business struggles to overcome booming production from china and the shares fell -- 6%, that waslmost one of the big gainers of the day. angie: hopefully. this will pick things up for the -- hopefully this will pick things up for the global economy. su: household spending declined more in september than in august, and you know, jp morgan scipio jamie dimon found that there was some austin -- optimistic comments. take a listen. jamie: consumers are in shea. their debt is now down to where it was in 1985. 10 million more americans are working and almost all of that in the private sector. su: and while u.s. consumer spending was indeed up, the latest data shows that income growth has slowed and that is something that a lot of investors are going to keep an i on. angie, back to you. angie: su keenan, a pleasure as always. so many more stories for you this mo
Bloomberg
May 13, 2015 7:00pm EDT
? they are definitely feeling the pain in china. -- chambers went out of his way to talk about how the company was doing better, growth of 8% outside of china. he's been fairly negative in the past about the chances of political deals, but he made comments that maybe it would get worked out. -- in relations improve, then cisco is there. angie: thank you for that. peter blair rose -- peter burrows out of san francisco. sumitomo mitsui is confident profits can be up this fiscal year. despite analysts predicting off all. but for the year ending march, profit was down almost 10%. however it is now more optimistic about growth at home and abroad. opportunity.g loans are trending upwards. capital demands are on the rise. on the back of increasing corporate investment, even loans for small to midsize companies are growing. abenomics are finally trickling down. angie: southeast asia's biggest phone company is getting a boost from australia. itsks to more customers at units. they're looking to expand overseas as growth slows at home. india is facing a $750 billion the primefor minister's in
Bloomberg
Oct 20, 2015 7:00pm EDT
after news of a shakeup. the operator of pizza hut and taco bell will thin china business after coming under investor pressure. yvonne man has more on this. going on a bit of a diet? off,e: they are shaking one of the biggest shakeups since pepsico 20 years ago. there was a food scandal in july triggering activist calls for a spin off, especially from carl meister,protege, keith who said the asian market could be better served with a focused business. the company announced yesterday that the ceo of the china business back in august will now lead the new china business. the company is committed to returning substantial capital. er said that the opportunities for risk are different than what you see in the u.s. because most of the stores in china are company- based, not franchise, which can be good in good times but can pose potential risk when times are tough. taking a look at the market is still number one in china but are losing a piece of the pie. 40% in 2011. now about 31% last year. mcdonald's saw shares fall of it. still number two, but we are seeing local names like ting hsin inc
Bloomberg
Jun 9, 2015 7:00pm EDT
"firstup new field for china's stocks surge. chinese shares a step closer to joining msci. ready for a return home. hsbc's plans to restore investment. bigger than walmart. the u.s. tos to make alibaba the world u.s. you largest retailer. " coming to"firstup, you live from hong kong. we have breaking news at the start of the show. south korea's unemployment rate coming in at 3.9% for may. that is above estimates and above average. economists we surveyed say they were expected in the rate to stay at 3.7%. for theimportant data be ok as it makes its rate decision tomorrow. another versed for the internationalization of china's equity markets. shares are onland track to be added to its emerging markets index. for more on what this all means, let's bring in stephen. what changed? stephen: they are getting closer, taking another step. we talked about this on monday. what has changed from a year ago? we had the shanghai-hong kong connect. there is this , a biggernalization quota for international investors to get into mainland shares. i want back a year ago prior to the review last yea
Bloomberg
Sep 29, 2015 7:00pm EDT
connections. facebook says it is already operating in china and businesses thriving. sending a message. -- abe pledgesp. corporate change. welcome to "first up." i am angie lau coming to you live from bloomberg's asia headquarters. markettart the news with moves on wall street. su keenan has been watching all of the action. how did the day go? : the stocks halted a five-day slide. many investors will be happy to have this quarter behind us so, put a dent in the decline. we had health-care stocks fueling the rebound. health-care stocks have dropped some 11%. we had oil bouncing back but while the dow and s&p climbed a slide in apple shares caused the nasdaq to miss out. we did get some fresh economic data. home prices rose 5%. drum -- jump in consumer confidence where a lot of economists expected a decline perhaps because of the turmoil. we have earnings season coming our way and he sees a positive impact on bounceback in the consumer. >> coming out of the recession, normally you would see a fast growth but this has been slow and steady. to increased consumer confidence, lower gas price
Bloomberg
Nov 30, 2014 6:00pm EST
demand in china hackers target movies and e-mails. up.ome to first coming to you live from bloomberg. china is taking another step on the road to liberalize interest rates. savings andt investments. no bank is too big to fail. >> good morning. year.illion deposits this the banks have failed. again,t is important first of all. we have short deposits up to a maximum of 500,000. 90% of savers. again, clearly, but opening interest rates, banks can compete against other banks and that is the concern. savers are against that happening. it opens up the playing field to be more competitive. the china agricultural bank and the bank of china has seen significant gains. compare this to the composite it you can see underperforming significantly. that is good. not as good as the major benchmark. >> the west has deposit insurance for a very long time confidences people to put money in the bank. what does it say about the chinese onset agreement they have with banks and why did this take so long? earliers meant to start and it will now start in january of next year. it took a while because of three
Bloomberg
Sep 14, 2014 7:00pm EDT
♪ >> growth targets under stretch, china's weakest factory output in years. e dollar is falling on new stocks are poised to decline, and sinopec has made a move. coming to "first up," you live from the bloomberg asia headquarters and streaming online at bloomberg.com. china's growth targets is again under threat, new data over the weekend showing a continued slowdown in growth. let's head over right now to bloomberg's stephen engle in beijing with the latest. steve? >> yes, the economic indicators, angie, you are right, pointing missing the growth targets, and it is the same as the previous year, 7.5% for the target. his options have narrowed. stimulate or miss that target. now, we had the weakest economic outlook. sales, they moderated last month, as well, and we saw the second straight decline in growth of imports and a 40% drop in the broadest measure of new is aggregate financing. over at morgan stanley, one person saying this is a pretty important wake-up call, that they need to do more, but will they stimulate more ortiz policies? policies? they do not want to inflate asset b
Bloomberg
Apr 19, 2015 7:00pm EDT
christine watching that in beijing. in somethis puts china where thesition here european central bank and japan is also easing china following -- easing. china following along. christine: this is the second time the central bank has cut the rate this year on top of the two rate cut that to rate cuts. still pretty high by global standards. of course $200 billion and the market. this cut is much bigger than what most people expected, although most people did expect racial cuts. -- expect cuts. our banks going to use this extra liquidity to lend to private businesses and small and medium-sized businesses? right now with economic slowdown, many find risks for businesses. this may not flow into the economy as much as bank wants to see. how much of this liquidity is going to end up stoking the already red-hot market? those are still some questions that need to be answered. china has the tools to support growth and they will use it if needed. these moves may actually be more stabilizing at the moment, rather than actually stimulating the economy. angie: what about home prices? are we seeing a tu
Bloomberg
Aug 26, 2015 7:00pm EDT
turmoil and weakness in china make a september hike increasingly uncertain. and an offer you can't refuse. -- worldwide selloff makes can refuse. they worldwide selloff makes hong kong's ipo performers the worst this year. i'm angie lau. there was relief for traders on wall street after the biggest , putting a stop to six straight days of losses. in that time, more than $2.2 trillion vanished from the market. another volatile session, wasn't it? su: volatile indeed, but a big wave of relief hit the market. there was an old adage -- how do you spell relief? u.s. investors go, there were really two words from the fed. you combine those two, and it its biggestp off on rally since 2011. the s&p rising almost 4%. the dow soared almost 4%, or better than 600 points. no one appears surprised at what is being called a short-term rally, given the steep selloff that preceded it. tech company led -- tech companies led the gains in the wednesday market. google and apple were better than 5%. oil continued its decline, in large part due to the u.s. supply data, showing a gain in u.s. fuel. we ha
Bloomberg
Sep 6, 2015 7:00pm EDT
to the markets. zeb is looking at the talk. sounded an optimistic tone and china is at the forefront given the market turmoil. had aded for core -- full-court press by policymakers trying to reassure partners of the g-20 that the chinese economy is in fact on a rebound phase, or at least that the worst of the market turmoil is over. at the center of this we have the central bank governor and his key deputy, both speaking ng says that the fundamentals are fine. stopped theat they freefall so they are saying that steps they took to arrest the drop were the right steps. we didn't see a bit of tension if you will. ministerese finance did not seem to appreciate what was being said. saying that the plans were not detailed enough, the presentation by the chinese. you heard some of that from the european officials, saying that basically china needs to accelerate reform. let's listen to what he had to say in turkey. >> my idea is that the avoidities really need to the factors of volatility would could damage the global market. and that may also want to sustain a strong growth. zeb: the leader
Bloomberg
Jun 22, 2014 7:00pm EDT
global stocks are trading at unprecedented highs. a private survey on the state of china's economy adds to the picture of a deepening slowdown. the china-based book says capital spending weekend. companies cried -- applied for credit this quarter. the government will make adjustments. the 7.5% growth target. boeing may be partially to blame planest year's fatal crash in san francisco. sources say that his investigators are debating whether the design of the automatic throttle on the triple seven lead to a series of errors. a final decision is expected on tuesday. the plane terri sewell at the end of the runway last july. three chinese teenage girls were killed. all right, singapore. it suffered several high-profile cyberattacks and its ability to fight them is now under threat. was impact their? let's get more from haslinda amin. this is one of asia's biggest financial hubs. >> it is a huge consents. cyber security skills across the world are at a huge demand. security poses a big challenge for singapore, the government is losing efforts to link public facilities as infrastructure
Bloomberg
Sep 15, 2015 7:00pm EDT
angie: the blame game, the head of china's biggest brokerage gets swept up in the stock route. rally as a retail sales data bolsters case for liftoff. the need for speed, frankfurt slowdown hashina's automakers at fork in the road. coming to you live right here in hong kong, streaming on mobile, bloomberg.com. let's check on markets. new zealand, climbing one third of 1%, 63 u.s. cents for new zealand dollars. hat weighs down currencies. let's head over to japan. nikkei less close like this. third of 1% higher. toures in chicago, pointing a 200 point spike at the top. we will see if that happens. , 120.39.n dragnet,nticorruption investigating president of china's largest brokerage, citic securities. we have the latest. wrongdoingoting out are looking for scapegoats? >> probably a little bit of both. rumor -- citics securities rumor that executive was under investigation. civic executives had for acidic executives admitted they are under investigation. we do not know if they are in detention. they are under investigation. behind muchties was of the margin lending boom that led
Bloomberg
May 1, 2016 7:00pm EDT
signs of stability. new data suggests china's economy -- indicating little need for added stereo speared economics under pressure. the government says it is prepared to act if the eyyen rallies. first-half profit rises but misses estimates on dad deb -- bad debt. to read train an upgrade to tackle what the prime minister says are deep and structural changes. lau.day. i'm angie welcome to "first up." we get straight to breaking news from south korea where the current account surplus widened to $10.1 billion in march, after it recorded a surplus of $7.51 billion, better than expected. we will check in on how korean markets reacted. to newasia-pacific, zealand, that market is open and falling 1/5 of 1%. 69 u.s. cents is the level for the u.s. dollar. rba decision tomorrow. counting down to the opens in australia, japan and korea. sydney pointing to a lower open. 76 u.s. cents. let's get over to japan. checking futures trading in chicago. a big drop for futures and indicating a lower open at the start of the session. this, after it took a market holiday on friday. this is really the
Bloomberg
Jul 6, 2015 7:00pm EDT
it is stepping down. the dollar-yen is slightly weakening off the safety haven. stocks china, chinese traded in the u.s. have plunged the most in four years. here.e got juliette this fall is a red flag for investor confidence. juliette: it is. we are seeing the central bank in china trying to do everything it can to stop these $3.2 trillion routes we have seen in chinese equities. we are still seeing the shanghai very able in the u.s. having a big fall as well. what we are seeing are those small stocks falling. were down byanies around 12% on the shanghai composite yesterday. you can really see over the last month, we have had those really big dips coming through in the overall index. the biggest u.s. chinese traded fund was down 2.5% overnight in new york. that is extending its losses to june 12 by around 22%. the bloomberg u.s. china equity we track was down 5.1%. that is a really big drop we are seeing coming through. we can see this is a bit of a red flag for confidence coming through in overall mainland stocks. angie: a red flag for china. what else can the government do
Bloomberg
Sep 2, 2015 7:00pm EDT
destination is china south koreans have been hit again. numbers growing at 2.2% year on year. u.s. stocks o rebounding in a volatile session. sue keenan was watching the day unfolds. good morning. volatile fashion. that is almost an understatement. we saw all you'll turn around and the fed beige book proving positive for the economy. that led to a surge that press the s&p up almost 2%, closing at the session high. it was a rough ride. technology helped leave stocks higher. that was a source of strength. tradingew york oil. drop downtuesday's 8% 5% after the three-day rally. dramatic turnaround. we had fresh data showing the fuel stockpiles had grown the most in four months. oil completely reversed directions and ended up -- where does it go from here? but go seat belts. it could go lower. >> it could hit the $20 level. when nobody is buying up the price of oil the front end has to come down. if it gets to the $20 level we will see production shut in. the brights talk of spot of the market. this is a snapshot of the u.s. economy. mostconomy expanding over regions. payroll added few
Bloomberg
Apr 17, 2016 7:00pm EDT
lead the team and will hire up to 10 more senior bankers over the coming months. china's consultancy services will appeal a verdict in an infringement case. a jury found the software maker should pay $1 billion. said it did not derive any benefits derived in the documents downloaded. the world's finance chiefs ended their meeting on an up the note, yet cautioned that the current market call may only be temporary. we have the main takeaways. what did they say? >> the g-20 struck a positive note. risks andwledged the the rocky start to the year for the financial markets. this time around during the spring meetings, they said the risk to the global recovery had stabilized. remember, we are seeing global stocks rising since the start of the year, since february, that will also shanghai see volatility index is recovering. christine lagarde sang the talks were a bit of collective there be to move from the negative situation to a more positive approach, but as expected, there s about whatution lies ahead. >> there was not exactly the anxiety,l -- level of but there was an equal
Bloomberg
Feb 28, 2016 6:00pm EST
angie: the g-20 greatest worry, it's not china, but japan is the biggest cause for concern. and salvage their $6 billion deal. and target and disney and the n in control is stuck with mickey mouse. we are coming you from hong kong. let's check in on markets in asia. frustrating day.g day. we are seeing gains, aussie dollar is weaker at 71 u.s. cents. and trading for about an hour now. we are seeing gains on this fresh week after two straight eeks of gains. tent of 1%. and and on the back of that. very positive u.s. economic data. we are coming down to the opening in japan and korea and checking futures in cold chicago. it is pointing to a hire open. 1/3 obust week with gains, and strongeren tom contend with. . d taiwan shot that the massacre in 1947. we have breaking news. 180th quarter, coming in at 7 llion dollars and 118. dollars and the final dividend. this is going to be news for investors. it's going to be 3.5 sing important. to our top story. we have g-20 finance ministers saying the they must do more. as that is the latest story. we were there. and david, what stood out
Bloomberg
Mar 1, 2015 6:00pm EST
>> china tackles a slowdown as the party prepares to announce its goals for the coming year. india's budget target for infrastructure spending and tax invaders to kickstart the economy. news of another galaxy. samsung launches new challenge to apple. ."lcome to "first up i am angie lau, coming to you from hong kong. we have breaking news. industrial production from south korea. numbers coming out stronger than forecast for january. the previous number in december was .4%. blow. ago, really quite a that is the korean figures reading so far this morning. disappointing. >> thanks. to our top story, china does it again for the second time in three months. the central bank decided to lower rates. we have david here to outline what happened over the weekend. >> it's one of those things. they are taking both the lending and deposit rates down 25 basis points. it was effective yesterday. on top of that, they are increasing the deposit rate ceiling. that basically gives the banks more freedom to offer rates above the benchmark. i think we all know inflation more than a five-year low.
Bloomberg
Oct 19, 2014 7:00pm EDT
the morning unfolds. we have eurozone deflation issues. figures weren't so good last week. china, next year they could downgrade the growth target. fed, jamesthe bullard of st. louis, talking about it, should we be ending quantitative easing? china, europe, and the u.s. are a concern. >> that helped boost markets last week, but it was one of the most volatile moves we've seen in equities since the financial crisis. >> let's go to the u.s. economy. last week, consumer sentiment rising, highest in seven years. u.s. factory production rebounding. jobless claims were down to a 40-year low. index, you can see -- 75% is this level -- it has fallen by 12%. that is a good sign. if this is dropping down a little bit, it is a good indication people are getting a little less nervous. on cpi fromres out the states. a very important figure, probably the most important figure of the week. dpi is supposed to come in flat. a year on year 1.6%. the following price of crude could affect that. alibaba had a big ipo, the biggest. 2.5% afterthey rose a bad week before that. those are a few bright spots. th
Bloomberg
Sep 1, 2014 7:00pm EDT
. moscow turns to china for a major energy project. investments may come cheap. russia's currency has never been this low. p."come to "first u oneaming on mobile and bloomberg.com. the kiwi dollar is off by point ,1%,er -- . we are counting down to the open in japan and australia. [indiscernible] and trading at 104.32. most of the currency was up. national holiday in vietnam so no trading there. -- security standards are in under intense security. investigators are trying to find out who talk to the celebrities and the states and the u.k.. a developing story. goes a lot deeper. >> as for hollywood, these images began surfacing on sunday. actress jennifer lawrence, the three-time oscar nominee, nude photos of her allegedly posted to an online sharing site according to the daily telegraph and others and as many as 100 celebrities from the u.s. and the u.k. hacked by hackers according to those familiar and those photos may have been taken from the apple icloud site. the site that many of us used upload mail, contacts, photos to ask us when we are out on the road. no one thinks when you u
Bloomberg
Apr 13, 2014 7:00pm EDT
the first time since 2010. china's strengthening is based on the copper market. a group is buying a copper mine in peru. the seller is glencore extraordinaire, which is getting billion. the deal will help glencore win final regulatory approval for its takeover of xstrata, china's biggest buyer of copper, accounting for about half of global demand. in a year when u.s. stocks soared, ceos saw their pay packages surge. mia saini has been looking at some of the highest-paid u.s. executives. probably green eyed monsters all around taking a look at those salaries. >> if you want to make money, the message is simple -- ea ceo of a top corporate company in the united states. looked atork times" 100 of the largest public that fouled revenue their proxy statements as of april 4. no surprise at the top. larry ellison continues to be the highest-paid ceo in the united states. look at this. $78.4 billion. >> he's got to make that go to sponsor america's cup, right? >> that takes a lot of money of course. fame, threedisney point -- $34.3 million. rupert murdoch, $26.1 million. honeywell ceo comin
Bloomberg
Aug 25, 2015 7:00pm EDT
. let's get straight to the top story. the latest move from china. and the effect on markets around the world. interest rates. and a wave of optimism in u.s. markets. after rallying three most sessions stocks plunged. we have su keenan watching the action for us. how did it go? >> weighing on the rally thatporating a showed that the benefits may be immune. it took off like a rocket shot early in the session and was torpedoed in the final hours. some strategists say is even more bearish. investors fear volatility. you can see the rebound up 440 points. the height was a 330%. the nasdaq was up 3.5%. it was on optimism that china's would succeed, the u.s. would be unaffected. board. down across the street,sts on wall observers talking about the fear factor of what could happen in china. could there be pickups? $2 trillion in u.s. stock value was erased. the 90% level monday was on a role of coaster down to 31% during the rally. the debate over what was going to happen with interest rates is renewed. priced in a 25% chance of a rate hike in september. economists say it could still happe
Bloomberg
Oct 18, 2015 7:00pm EDT
points higher. the dollar yen slightly strengthening. morning, the this challenges facing china ahead of today's third-quarter gdp numbers, expected to confirm the slowdown with premier league is saying it is not going to be easy heading that 7% target. david is here to run through what we are all expecting. >> premier league, there is a statement on the consul website. 7%, it can be 7%. it should be fine. 7%, hitting that would not be easy. , which comes out three hours from now, it is third-quarter gdp data. you have estimates of 6.8%. is 6.9.estimate the lowest end is six .4%. not a single economists surveyed. -- surveyed thinks we are going to hit 7%. of it will take year to date growth till the low 7%. we also have another graphic which flux growth over the last 25 years. a bit of a slowdown and came to about 7%. the pickup we saw into the global financial crisis. that is when they spend their way out of the crisis. this is the current slowdown we are talking about. a bigger economy now. growthth or even higher will be mathematically harder because it is such a bigger economy. ha
Bloomberg
Mar 6, 2016 6:00pm EST
angie: the slowest growth in a quarter of a century. that is the forecast as china outlines a new five-year plan. ahead, but there is no chance of a hard landing. the governor supports further reforms, making fiscal policy more effective. welcome to "first up." man standing in for angie lau. we are seeing the aussie stocks of a third of 1%, extending the gains we saw last week of five straight days of gains. the aussie dollar seeing a little bit of weakness. let's take a look at how new zealand is faring. we are also looking at the opens in japan and korea. the nikkei 225 into the day on friday a third of 1% up. we could be seeing some modest gains. it is going to be a weaker yen today. 113.81. note trading in mumbai -- no trading in mumbai. it is all about china today. china has rejected fears of a hard landing as leaders outland -- outline their target in the latest five-year plan. rule number one will be development. he acknowledges difficult times ahead. haidi is in beijing for us. they still have this growth addiction. on the back burner. development and growth our top priori
Bloomberg
Jan 24, 2016 6:00pm EST
rally and withgh the u.s., as well, the nasdaq and s&p 500 and the china closing at 2.5% up. this is because of mario draghi boosting the sentiment after the and the boosting stimulus with the oil heading are to $32 a barrel and we seeing a bit of a rally there and the traders are buying back bullishly. to 32.p the boost above the dollar mark again. starting things off pretty strong and t the commonwealth bk is at 2%. the risk appetite is back and we saw the losses lost week -- last week. in fashion, when it comes to safety, this is when we see the safety funds double and they are back by precious metals and saw the most inflows in a year. the spot is under 1098 and we saw a bit of a rebound since the start of the year since december and quite a bit of a rally. there has been a bully and revival -- gold bullion revival and the greek bailout negotiations. this time, there are concerns about the global markets here that will support the metal, according to citigroup. this is a risk today on the china markets. markets, so far. let's send it back to you. >> shining once again. thank y
Bloomberg
Nov 22, 2015 6:00pm EST
forging together china,and this is the -- japan, south korea, australia, and new zealand. a kind of competes with the u.s. transpacific partnership. angie: thanks for that, rosalind chin. let's check other headlines. the san francisco fed happens -- fed president has reinforced the view that there will be a rate hike next month. on williams sees a quote, a strong pace for december left off. also the importance of the fed not being locked into a stringent path of rate increases, following the initial move. speculation growing that japan is preparing to widen its stimulus program. the newspaper says the plan will include raising the minimum wage, more support for low income pensioners, and moved to reduce costs for energy efficiency -- efficient homes. prime minister shinzo abe a laid out three new themes in september, a strong economy, childcare support, and social security. saudi arabia and stocks rose to the highest. the oil minister said opec is working to stabilize the market. assets fell to a three-year low in september. the country produced more than 10 million barrels of oil o
Bloomberg
Aug 18, 2015 7:00pm EDT
>> shanghai slides. stocks slump the most in three weeks. china wields back away from supporting the market. preventive medicine conference. injection to further economic contraction. and the man in the yellow shirt is this the bangkok armor? police are confident it is. welcome to "first up." i'm angie lau. streaming on your mobile and bloomberg.com. let's check in on markets. new zealand, we're seeing gains. it is higher. spotew zealand dollar paring back. 65 u.s. cents is the level this moment. we're counting down to the openings in australia, japan, and korea. a bit of a selloff yesterday in japan you the nikkei -- japan. nikkei 225 -- futures in chicago morning to a lower opening following the selloff on wall street that we saw. the dollar yen holding. to our top stories. the volatility in chinese markets never really went away. yesterday's selloff really .howed that uncertainty the shanghai composite fell more on concern sent government support may come to an end. all of the action was in the late afternoon. >> absolutely. let's have a look at the internet chat. that occurre
Bloomberg
May 25, 2015 7:00pm EDT
. let the good times roll. china is confident again and sales are booming. modi. months of as the indian prime minister hit the target in his first year? welcome to "first up." i am angie lau, coming to you live from bloomberg headquarters. to our top story today. reese returns to debt talks today with a message to creditors. with money running out and big bills due in the next few days, the finance minister has again said that those who lent athens money are those to blame. that is interesting language. david: still sticking to this narrative as far as the finance minister is concerned. a little bit of a difference when talking about the prime minister. austerity is the only dealbreaker. he made a few points, saying it is not greece's fault. he challenged the perception that has been covered by media, this perception that a lot of non-greek supporters have -- there is a fallacy that greece is unwilling to admit to reform. it is quite the opposite, he said. he said our creditors' inssite nce on greater austerity is subtle but steadfast. committed, he , that is the dealbreaker. --went so
Bloomberg
Jan 11, 2015 6:00pm EST
china and bound for the u.s. -- that's what the first at itsutomaker to build chinese plant is building this year. volvo was bought in 2010 and two years first plant ago. paul volcker also has assembly lines in sweden and belgium. the slowdown in china is hitting the automotive sector. car sales grew at a slower pace last year, rising only 10% versus 17% in 2013. china's push to curb pollution demandffic led to weaker . india enjoyed something of an image makeover last year with this this is being upgraded at the fastest pace in five years. it comes as the prime minister continues his drive to open up and revive the economy. we've been taking a look at this. >> the policy measures really improved the economy, improved the business sentiment overall considerably right now. we are seeing industries with the most upgrades within construction, automobiles, tell communications, and pharmaceuticals, and just to break down the numbers for you, really, movies -- moody's, the , quite a bit of numbers. 870 upgrades for local borrowers .ompared to 539 downgrade that's the best upgrade to
Bloomberg
Aug 16, 2015 7:00pm EDT
weakening. chicago pointing to a higher open for the nikkei to 25. 225.ading -- nikkei china's economy could be growing more slowly than official data suggests. explaining why the yuan has the outed, the pboc has come and declined to offer a definitive view on how it sees the currency trading. >> some very interesting comments. in both yuan will move directions following last week's devaluation. even if the central bank needs -- he didne it could indicate where we are seeing the yuan at the moment is going to be consistent with economic dust with economic fund mental's. -- insisted with economic fundamentals. bloomberg has done a survey of economists, who say that it's not consistent. it is more likely the economy grew at 6.3% in the first half and will grow at 6.6 per -- 6.6% on the year. there is of course an inconsistency, and that is going -- you can see why we have both the central bank and the interveninghe pboc in the stock market. i guess you can say this inconsistency -- we have seen a cumulus measure moving into the market. angie: malaysia has given investors a wild ride. 's
Bloomberg
Mar 20, 2016 7:00pm EDT
♪ angie: a note of caution as beijing makes growth its top priority. a warning that china's debt levels are too high. positive on negative, christine lagarde says rates below zero may be good for the economy. we have an exclusive interview. evidence ars find was behinded gang the $100 million bangladesh bank heist. welcome to "first up" coming to andlive from hong kong streaming on mobile and bloomberg.com. markets in asia, this first trading day, australian equities are climbing fractionally higher. at $.75,e dollar weakening slightly against the u.s. dollar. new zealand, this is the picture there. also climbing a fifth of 1% as asian equities sees its fifth week of straight gains. market we have to tell you about today is japan, where people are celebrating vernal equinox day. after the national people's congress gave priority to achieving at least 6.5% annual comments suggesting it will be a difficult balancing act for beijing. we have a look at all the challenges. haidi: it is interesting. 6.5% to 7% that growth target announced, it did clarify that policy message that there
Bloomberg
Nov 8, 2015 6:00pm EST
china over the weekend offers the government little encouragement and ramps up pressure for more intervention. imports and exports fell, leaving another record trade circle. tell us, what's going on. >> this is been worsening of the past two months. china's slowdown. missed was the biggest expectation. let's look at where we are sitting. chineset 97 decline for exports. that is worse than expected. it continues that trajectory of the slowdown. not as bad as july, but certainly not the improvement we were expecting, particularly from the holiday-related numbers. this does lift the case for more pboc easing, but we have had six rate cuts over the past year. that has done little to help the exports sector. a good thing for some of these companies, but it doesn't do much to help export demand. this is on -- this is a global issue as opposed to a china issue. taking a look at the numbers for the first 10 months, japanese exports to japan, fell 10%. 12%.kong off the reaction on the australian markets we are expecting, exports down by over 25% over the first 10 months out of, from austr
Bloomberg
Oct 4, 2015 7:00pm EDT
that's china. it remains closed for golden week. trading will resume on thursday. negotiators thrashing out the transpacific part -- partnerships say they are close to a deal. we'd expect hear from officials later on this morning. it on his been taking a look at this. have there been a breakthrough? yvonne: these are very advanced types of medicine that are dealing with living organisms the are believed to hold ability to treat cancer. it's a big issue. this is because of the data exclusivity and a lot of debate among nations because in the as. is a big grin manufacturer develop this, they have up to eight years to those exclusive data rights. the information cannot be released. nations such as australia and chile and new zealand say that timeframe is still too long. these nations laws are usually about five years or less. right now there seems to be a compromise to five years, including three years for the monitoring of safety laws. we are still not sure of the details right now, but that is what the issue is here. that would be significant for the pharma industry in the u.s.. points i
Bloomberg
Jun 19, 2016 7:00pm EDT
helped to build india's credibility among toestors as well, helping overtake china as one of the fastest-growing major economies. inflation has come down a bit as well. he said he was confident that his policies would carry through past his term. it would protect india from sudden capital flight. will lead toit outflows in the short-term until they announce his successor. long-term, people still see potential when it comes to high-growth, positive reform, and high caries. monday, they say, will be a tough day. angie: it has absolutely been under pressure politically. despite everything he has been doing well for india, except a little slow on that inflation goal, he has come under pressure. there did not seem to be support from the government as to whether or not they wanted to extend. he basically said i will step away. did that surprise the government? is that going to appease the detractors? who will be the next guy? >> there are a couple of names in the mix. the deputy governor for the rbi is the most obvious. he has 25 years over all in economic how lessee, and he is known a
Bloomberg
May 17, 2015 7:00pm EDT
accused, a new lawsuit encouragesoup profiting from a counterfeit goods. and china tells america that the pacific is big enough for both of them. welcome to "first up" i am angie lau, coming to you live from headquarters in hong kong and streaming on bloomberg.com. check in and on the markets of this morning, new zealand is higher and the new zealand -- $.74.ot is at $74 the nikkei 225, they're up higher and checking out futures, they are leaning towards a higher open. the s&p is at another record on friday, overnight, rather, friday in the united states, the dollar/yen right now is up, and straight to our top stories the self32 -- south32 starts trading today on a sx -- asx. were joined by paul from australia. hello, it is a very cold and theyin sydney, will say how many when or where, and another goal for this is due grow the cache full -- cash flow. we want -- they want to extend the life of that, and the an importantl be part of the business, and to the bhpvestors, to investors, it is going to be good for them. andcompany has minimal debt they are speaking about trading in a
Bloomberg
Sep 24, 2015 7:00pm EDT
the south china sea. those are issues that the u.s. wants to bring up. things like climate change, the two countries that are the largest emitters are hoping to get an agreement. angie: how do the private dinners differ from formal meetings? what does it give them a chance to talk about? >> president obama definitely likes the private dinners. fewer people, they can meet i do tom discuss visions -- eye and discuss visionseye. obama very much like sleeves and thinks it is a way to get the ball rolling on policy discussions by sitting down without an agenda and talking points and discuss the major topics of the day. angie: candid conversations at these private dinners. what will they bring? touluse. so much, thank you so much. housecleaning has started at volkswagen as the carmaker tries to rebuild its reputation after admitting to cheating on u.s. pollution tests. a decision on the next ceo is imminent and the entire auto industry is feeling the effects. shery ahn has the details. who is expected to guide vw through this? sherry: his name has been thrown around but we are hearing t
Bloomberg
Jul 9, 2015 7:00pm EDT
final say. watching and waiting. china's rebound lifts global stocks. is the worst over? or do the shocks continue? its globalers forecast. ."lcome to "first up i am angie lau, live in asia headquarters in hong kong. all right. let's get to it. checking in on markets friday morning in asia. new zealand gaining .25%. new zealand dollar also gaining in tandem with chinese equities, at $.67. counting down to openings in japan and korea. japan's our recovery, .6% higher. nikkei futures pointing to a higher open. here becauseness there is no longer a safety heaven play. the sentiment of concern is waning. 121.75. greece has our attention. reform proposal in a lastgasp effort tuesday in the union. it's a minute plans to brussels. eu leaders give a verdict on sunday. shery ahn has been looking at what they are offering. shery: the greek government is edging closer to creditor demands in exchange for $67 billion in bailout. reforms which they have been against since the beginning of negotiation, including debt restructuring and 1% of gdp for this year, which is something they had been resi
Bloomberg
Jun 21, 2015 7:00pm EDT
than where the central bank wants it to be. china's output, for the first time, is the bull market, driving up costs and squeezing profits. the china iron and steel association expects out -- output to fall 2%. producers are being hit -- hit with rising costs. iron ore prices up 19%. taylor swift says apple music, she has pulled her latest album in a row over compensation. what is your beef? afford toswift can have subscription services of her own. she is worried about musicians who are not in the kind of position she is. at the end of the month, apple is launching apple music. my $ he nine cents per person, and you can download their songs. they are trying to learn people in and not paying artists for the person -- the first three months. taylor swift says, that is not fair. this not for herself, but because she thinks it is unfair for the people in the music industry. it is not too late to change the policy, she says, and change the minds of those in the industry. be says musicians will gravely affected. provideon't ask us to music for no compensation. she is becoming one of the
Bloomberg
Aug 31, 2015 7:00pm EDT
rise in the u.s.. china is intensifying investigations into insider trading and malicious shortselling and spreading rumors and the probe has ensnared one of china's most well-known female executives, the chairwoman of the hedge fund. stephen engle is joining us with more. what do we know? someone you know well. stephen: i have known her for many years. she is the former head of viacom in china. she ran mtv in china for many years in beijing and has led the man group. the world's largest publicly traded hedge fund in china. since 2011. she is said to be in police detention, helping with the investigation into a legit market crimes -- alleged market crimes. this is an important point, it does not mean she has been charged with wrongdoing or has done anything wrong. saysson familiar with li she is in custody to help with the probe into market volatility. her husband was reached by phone yesterday in beijing and says that she is meeting with relevant authorities. does not know who the authorities are. does expect her to be home soon. this is part of a special campaign by the
Bloomberg
May 22, 2016 7:00pm EDT
to china here? it sends an important message, and china knows it. up hisnt obama will wrap presidency with a visit to china, traveling there for the g-20 later this year. by showing up in vietnam next door to china and on the south china sea, it sends a strategic message. the u.s. does not have any claims in the south china s ea, but it is a very important trade route for the u.s. given the immense void of to and from asia. the u.s. does not want to see anymore strife in that area. by showing up in vietnam and holding hands metaphorically with the vietnamese leadership, president obama is sending a message that the u.s. stands with its allies in the south china sea and will not tolerate further encroachment on shipping areas and an increased militarization of the south china sea, so president obama without doing much of anything militarily is sending a strategic message. angie: traveling with the president, thank you so much for that. other headlines, the san francisco fed president said the economy should be solid enough to merit a great increase this data jobs and inflati
Bloomberg
Jan 19, 2015 6:00pm EST
chicago pointing to a higher open. china a day investors in with like to forget. monday saw the shanghai composite plunge close to 8%. the 300 largest companies lost a combined $290 billion. where are we? >> not in a good place. >> what happened in china? >> that is something you do not normally see. i think the last time the shanghai composite dropped this much was during the lehman brothers days. maybe just to recap for our viewers, we had the csr suspending three brokerages from loaning money to clients. brokers should not lend to they try to draw a line in the sand. the csr has defended their actions. they are not trying to hurt equity trading. the investors interpretation of what they did, they are doing investors.tect they want to support the healthy growth of market trading. it goes both ways. turns, it is not exactly fun. >> that is exactly what happened to them when the swiss franc went this way and a bunch of clients lost a lot of money. million dollars. >> they got a lifeline, though, which helps. 60%ier on in this rally, up last year, the already warned of the risks associate
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