foreign committee. they asked about aggression in the south china sea and sanctions against north korea and human rights issues in vietnam and burma. this is just under two hours. >>> some of the world's most danger flash points are inash as our closest alleal. we are welcome mr. blinken to the committee. america is a pacific power and we must act like one. we've had a role in shaping policy toward asia and we took the lead imposing sufficient sanctions on north korea, on highlighting hume ran rights in southeast asia and strengthening our alliance in the nation. since the north korea january nuclear test, its fourth, kim jong-un belligerence has only increased. this rogue regime poses a direct threat to the united states. and last weekend the regime launched a missile from a submari submarine. reports are that another nuclear test could be on the horizon. this year the president signed into law for sanctions this committee pushed to aggressively target north korea's cash. this strong bipartisan measure authored by myself and mr. engel helped the administration get a sweeping u.n. secur

in china's ride hailing space and a competitor with uber. we hear how the company plans to keep uber at bay. the third season of "silicon valley" premieres on sunday. we will hear from dick costolo, a consultant for the show, what he has been up to since leaving twitter. as our economy becomes more highly automated, what will the future of work look like? we sit down with alec ross. first, didi chuxing. uber's largest competitor in china. it operates in 400 cities across china with over 14 million drivers. uber has a presence in 150 chinese cities. they announced a new partnership with lyft to take on uber internationally. how do they plan to keep ahead of uber in china? i sat down with jean liu. jean liu: chuxing means travel, commute in chinese. we are serving a hundred people to commute. emily: you are often referred to as the uber of china. how do you see yourself? jean liu: we are serving 800 million people with a variety of products. that gives us a unique business model. about 2 million come from taxis. we do buses. we do china specific products that we can utilize the ex

dad loan provisions. also showing the rising stress levels as china's big banks. no more mr. nice guy, china no longer wants to portray the president as a populist hero. they will drop the nickname "xi dada." you can follow me on twitter. underway in 30 minutes time in hong kong. shanghai getting going, as well. no trading in japan today. when it comes to equities, here is heidi. japanese we are seeing -- continuing to take a beating. down.is is how japan is continuing to come under upside pressure. this is how we are looking at in terms of the markets that have just joined the trading day. another down day. similar losses when it comes to markets in kuala lumpur. quarter gdp numbers missing the contraction of the 10th 7%, worse than expected. of 1%, worse than expected. kiwi markets up. cindy flattening out. ney flattening out. search in crude prices overnight. inventory continues to evolve. upsaw asian currencies alongside that enormous surge in the yen yesterday. the new taiwan dollar reacting to that number. we are going to check on that, trading at 32 point three at the moment. l

philippines after ships began conducting joint patrols in the south china sea last month. over and claim sovereignty all of the south china sea islands and adjacent waters. republican party officials are warned not to change the rules to allow someone other than donald trump or senator cruz to win the nomination. told c-span that primary results show republican voters want and antiestablishment candidate. a debate between hillary clinton and bernie sanders days before the new york primary. mrs. clinton trying to snap a seven date losing streak. -- seven state losing streak. bernie sanders needs to make up ground for delegates. global news, 24-hours a day, powered by our 2400 journalists, in 150 news bureaus around the world. "bloomberg west" is next. ♪ emily: this is "bloomberg west." forng up, the stage is set another high-profile showdown between the tech industry and the government. microsoft is in the spotlight, a law that stops the company from telling customers when the government wants to access their data. elondo you spot the next musk? an entrepreneur capable of starting sever

treaty that requires a particular list of countries. so we and china in trying to deal with north korea lack a certain degree of moral authority and presence that a functioning treaty regime confers in the same way that the nonproliferation treaty was able to bring together the p5+1 across the table from iran. that's one example. tamara gave an example earlier this morning about the administration unable to get money to implement a foreign policy in response to the uprisings of the arab spring. treaty commitments are crucial. we are currently waging war in the middle east under two legal authorities. one passed in 2001 in response to 9/11, and one passed in 2002 authorized war in iraq. neither of them is really relevant to pursuing a war against an enemy that didn't then exist. both congress and the president, to a certain degree, have resisted trying to pass a new authorization of military force because -- because of the enormous lack of ability to confront these really -- these tough questions. they -- and so -- so we proceed without -- you know, without that. so -- and of cours

on the rate cost. china's official factory shows improvement for the first time in eight months, similar to the old engines of growth. and merging markets have the best month since 2009, but is the rally doomed to fail? some signs say yes. this is "surveillance." i'm francine lacqua in london. if you want jobs, tom, i know it's important, but actually, it may be a little bit less important than janet yellen's talks about all these uncertainties globally. tom: totally agree. over the last two or three years, jobs has been pushed aside by the global economy, by the dynamics, even with brexit coming up, there's a whole host of issues coming up. we've got the right guests coming up from u.b.s. francine: we'll have break news the last half-hour on china. the ministry of finance fighting back the rating downgrade that we broke on "surveillance" yesterday. now let's get to the news. > francine, thank you so much. in washington, the focus is on islamic state. president obama will try to rally interpret support for an effort to keep terrorist groups from getting a nuclear material and ot

hiroshima. the topics are expected to include north korea's nuclear developments and china's increasing maritime activity. >> translator: we will be hosting the first g7 meetings in asia in eight years. we want to show our resolute to north korea, maritime security and other regional issues. >> suga said the foreign ministers will discuss urgent global issues including terrorism, the refugee crisis and situations in the middle east and ukraine. he he has hopes of a world without nuclear weapons. >>> eye on asia will bring you the latest every day throughout the region. we start today in hong kong. a controversial movie about the future of hong kong claimed top prize at the film awards on sunday. china's state run tv channels refused to show live broadcasts of the awards, which are hong kong's equivalent to the oscars. it was believed the "winning zone" was the reason. it displays a dystopian future hong kong being tightly controlllled by the chihinese communist t part in the filil the langue cantntonese is noo longer allow to be used. the film also shows pro-democracy protesters being k

. investors counting down to the data dump from china. gdp expected to be an line with the government's range. do let us know what you think of our top stories. follow me on twitter @rishaadtv, include #trendingbusiness. david is -- what sort of mood music is being played today? david: we are looking at a fair amount of caution. momentum was lost into the u.s. session overnight. let me show you what is happening. , when tokyo25 opened up the #it, the yen weakened and the dollar gained the cash market, the yen weakened and the dollar gained momentum. we are now down to a quarter of 1%. have a look at the japanese yen. you will see a spike here. we are still below 110 at the moment. the boj governor saying the excessive strength filter through has corrected somewhat. we are watching this closely. said, whenreport does the boj step in, at what level? half of the respondents said 100. that may mention this, a fairly big earthquake in southern japan , 9:00 p.m. local time overnight. do havecompanies production facilities in that area of the country. sony being one of them. it confirmed it ha

. china and hong kong markets getting underway in about half an hour. a gauge of what is going on with your money today. >> money going down a little today. not a great end to the trading week. times down,rait malaysia with a similar loss, and taiwan. faring better than the open, down a third of 1%. the yen unchanged at the moment, although stronger in the early session. and mitsubishi motors are the two worst performers on the .ikkei 225 asx 20 hit hard by the downturn. the new zealand market also weaker to round out the trading week, down a third of 1%. trim back thell weekly gain we had seen on the regional index, currently down a third of 1% before china and hong kong come online. a few stocks we want to watch in up region today, iron ore 8.8%, the second-biggest gain ever. atlas iron is very strong on that. it wasalysts were saying doing quite well, so a little overbought. bhp billiton down by 2%. looking like a bit of a downbeat day across the region today. you a lot for that. mitsubishi motors losing 40% of its market value in two days, shares plunging for a third day because of

transpacific partnership. will it get done this year, and what does it mean for relations with china, and we have secretary gary locke with us. everybody, we are one hour away from the close of trading on this tuesday. let's head over to the market desk and check in with julie hyman. julie: it is gaining steam as we go through the day, session highs in the past few moments, and at one point, we were seeing the dow and been closer to 1% than they are right now, so very close. that weisk on scenario are seeing come back into the market, so what happened with oil, as we have been talking about throughout the day, earlier a report that russia and saudi arabia had come to an agreement on some kind of protection freeze, but there was not really confirmation for more information until the roman came out and said there was a path forward to some kind of an -- until in delhomme the russians came out and said that was a passport of some kind of an agreement in doha, and oil is trading above its 200-day moving average. this is a look at the intraday move, and there is the moving average, now bo

: world bank sees easing. table, the u.s. wants the south china sea discussed at the g7 summit. investigation, and inquiry by britain's fraud office. david: i am keeping my eye on what is happening with your money. weak start to the trading week. the good news we are off the lows of the day. we are seeing a lot of weakness across markets across the region. three days of fairly solid gains wednesday through friday. lots of people -- lots of data released this morning. machine orders fell just over 9%. in japan, forecasts were for a 12% drop. inflation out of china -- roughly unchanged. oil, open the above 40. so, the last 10 minutes or about 40.20 10. 42 .18. go with brent, let me wrap things up with the japanese yen, the main talking point across markets. .33.ing high was 108 wheres a two-year look at we are. your police in my trickle. eerily symmetrical. 17-118.te is 17 rishaad: the yen has hit a new intraday low. the longest winning streak since before abenomics was implemented. it is confusing and confounding a lot of currency strategists. we should be looking at this, some

soon. rishaad: china has plans to tear down the walls of its gated condominiums. with goldmanup sachs. it is the latest firm to reach a settlement with u.s. authorities. trying to hold it accountable for the financial crisis. the u.s. justice department has confirmed that goldman will pay $5.1 billion due to serious misconduct over the sale of mortgage backed securities. goldman will pay $2.4 billion in plus 875 million in cash payments. such a the fifth multibillion-dollar settlement that has been reached with u.s. banks on the back of the governments push to hold wall street more accountable for the subprime crashes. other banks including deutsche bahn can remain under investigation according to people familiar with the matter. earning season has picked up in the united states. they may be in for a rough ride this quarter. this could be the first u.s. earning season -- worst u.s. earning season since the financial crisis. revenues tumbling 15%. down 196me came in billion one year earlier. it was better than expected performance in the lightweight alloy products. they'll become the l

innovation and leadership. oil erases gains as saudi arabia the production priest depends on others. china may let banks convert loans into equity, but not everyone is convinced. welcome to "first up". let's get to the markets in the asia-pacific. australia's open pretty much flat, fractionally higher from friday's close. the aussie dollar in focus today, a little weaker, $.76. rva expected to keep it at 2% tomorrow, but increasing sentiment that rba has to cut. ,outh korea getting other way fractionally higher. korean yuan down, but strengthening. now, and5 online right this is the view. futures had been pointing to a higher open, and now we are seeing a selloff. it is still strong yuan right there. has finally got his hands on sharp. chairman of foxconn technologies signed a deal for a controlling stake in sharp, saying he respects its innovation and leadership. sharp shares surging in tokyo. our tech reporter joins us right now. it has been a long, hard chase. is it really over? >> good morning. the money is literally in the bank. transferred ¥100 billion to sharp on march 31, ending t

investor sentiment, continuing to strengthen against the dollar, 108.05 at the moment. prices china property coming on the bottom of the hour when hong kong and china open. yvonne: thank you. our top story, the pressure on, oil prices on the slide after the collapse of the output talks in doha. what now, david? no deal. if iranpec saying that is not going to play, we are not going to play. there was a reasonable amount of optimism built into those talks. the discussions took more than 10 hours longer than planned. the oil ministers walked away with nothing. the meeting was pushed back a to hours after the saudis the surprise of many present byered its position insisting iran be part of the deal. attend ated not to the last minute and had said it would not be part of any deal. russia's energy minister, not hiding his displeasure at the change. also the host minister, where do we go from here? think we have not reach those expectations we had when we prepared this meeting. how could a country that did not in the meeting be the result for no agreement? this is the position of the large

@rishaadtv include #trendingbusiness. big selloff in china on wednesday. we are looking at the boards. we are seeing gains on those markets opening up. taiwan up, coming back. singapore up to tens of 1%, a pretty flat day in malaysia. driving the nikkei 225 the region higher. holding on toex those four month highs. holding on to those seven-week highs. is up for tens of 1%, and the oil price helping out austria market, new zealand weaker. we will have china's open at the bottom of the hour after that big selloff yesterday. the shanghai composite recovered after beinglosses down by almost 4%. good gains from the basic material players and oil and gas up by a 10th of 1%. consumer goods looking strong. we are monitoring mitsubishi. it is expected to fall by the daily limit when it starts trading. we've had numbers coming through from australia's third-largest sydney, now has a positive cash position. thanks. oil trading near five-month highs. talks may restarted be in the frame. let's get more. oha, butoke up in d of what about the prospects a new meeting, or is it all bluster here? at t

@rishaadtv, don't forget to include #trendingbusiness. china markets underway at the bottom of the hour. singapore, taiwan, malaysia starting off. started with dollar-yen. it has been the story going back to the first of april. in fact, just a few minutes ago, we were below the 108 handle against the u.s. dollar. briefly above that level at the moment. analysts if the boj will start to intervene, chances are according to most, not yet. chance of intervention is quite low according to the bank of singapore. level look at the average where analysts think the boj might step in, 100 dollar-yen. at this level, that would mark the confirmation that the psychology around the currency has completely changed, so watch this very closely. which brings me to the japanese equities session, 15,000 617 is your level here. will the strength and the japanese yen continue to push investors out? foreign investors have been pulling out for weeks going back to the start of the year. so it is dragging down the overall session, which looks like this early monday. read across the boards. d across the boar

because we have a slow economy, whether it's in japan or china and the u.s. i ask you, what your take. i know your money is in china. but as far as the u.s. is concerned. do you think donald trump is right, we are on the doorstep of a massive recession in the u.s.? kyle bass: donald trump may be right for the wrong reasons. asia has a giant credit bubble they have been building for the last 10 years or longer that reached its atrophy level and it will happen the next two or three years. so whether that causes the u.s. the have a brief minor recession, i think it's 40%, 50% in the next year personally. but it doesn't mean that slow global growth is going to lead to persistent recession. i also don't buy his idea monetary policy can generate true organic growth. it can help us out of a crisis. but we have had 8 years full out monetary and policies philly he justed. when the guard goes to the g-20 and says we have to work together. we have been working together. now we are stuck with kind of stagnation and excess capacity and a lot of debt. maria: to be clear to your first question, it h

. he's a trustee and chair of the harvard institute, and also involved with u.s. china relations. he graduated from harvard college, served with the army in vietnam and holds phd degree from stanford university. his book has been reviewed in the new yorker and wall street journal and we are all very much looking forward to his presentation today on john birch, the life. >> thank you very much it is a special privilege to be here because as christian mentioned, this is where the project started. i really want to take this opportunity to not only thank you for being here but to express my heartfelt thanks to all of the staff of the wilson center, to christian for his encouragement and support for this project and other work, to lee hamilton who was director when i was here as public policy fellow in 2010 and to bob hathaway who's here with us today, a former director of the asia program here at the center. i also want to express appreciation to bill brown who is the person who introduced me to chinese colleagues in the city of shoe joe where john birch was laid to rest. more on that in

factory in china, and bloomberg investigate claims of low pay and excessive overtime for workers. less, it is the aging auto show. scandals,rshadowed by and recovering from the revolutions of cheating, and we speak to the ceo. let's get back to the markets right now. heidi? heidi: we are retreating and we are seeing quite a lot of risk sentiment, and this is ahead of a triple whammy. expecting any decision to come through in terms of another rate hike. and perhaps a cut further into negative territory when it comes to those negative rates. and of course, ramping up the top three central bank decisions, and we have a lot coming through, the gdp coming through on thursday, and in the meantime, we have south korean gdp as well profits, and there is a better than expected sure we have seen, given the china macro background, and this is extending losses, following the most in a month, and we have been weakening. 1%, the weakest since march 28. and the basket of currencies going to the lowest since it was put in place in december. at about 9/10 of 1%, and we have rate. it is owned by s

gambling. kengo okamoto, nhk world. >>> it's time now for eye on asia. vietnam is demanding china move an oil rig, which is in a disputed section of the south china sea. vietnam's foreign ministry spokesperson announced on sunday that the chinese rig was transferred into waters near the gulf tonkan. jurisdiction remains unclear. china had also moved the same rig to waters clo se by in january. stating it wants plans for drilling to be stopped, and the rig to be removed immediately. the rig also caused tension in 2014, when china placed it near the disputed perisal in the south china sea. china claims virtually all of the resource rich china sea, also have rival claims to certain areas. vietnam's new prime minister phuc who was sworn in on thursday, completing a national leadership change, the communist country goes through every five years. >> translator: before the flag of the mother land, before the assembly in front of the people of vietnam, i swear to give my utmost loyalty to the community, to the people, and the constitution of the socialist republic of vietnam. >> phuc is 6

stock and get out of the market. that's the way the free markets should work, and there is the china syndrome. anthony: do you think there is a recession on the horizon? >> you have to think about which indicators were flashing red. you saw it in the volatility and the equity market. there is a reason for the well-worn phrase. unless they are confirmed by the high frequency leading indicators, economic iicators, i think it was yet another false signal. even when the crescendo was greatest we didn't buy into the recession case. gary: should investors be concerned that what appears to have happened in march was the fed said we won't raise rates in the short term, we are going to keep steady. is that something we are becoming so accustomed to that it's a long-term problem? >> what we are in now is bca coined the phrase the fed policy loop. strengthen the dollar which leads to a blowout in credit spreads which leads to higher volatility in the equity market which has the effect of tightening financial conditions. we have been in and out of that loop since about a year ago where it sugges

arora has done nothing wrong. that is your bloomberg business flash. let's talk about china now. the billionaire says china's debt feel economy resembles 2008..' in 2007 and speaking at asia society event, soros said it should be viewed as a warning sign. hans: the founder of warned about a potential crash in china six years ago. but now he is much more bullish. francineto friend lacqua, he no longer has the concerns. hendry: china does not concern me. i think china has the power to without any catastrophic consequences in terms of having to revalue its currency. i think we are safe. i think china now is beginning to see statistics with demonstrate that. hans: joining us now in london, charles newsom. charles, when you take a look at what you hear out there on c hina, what is your read on this? so much data comes out of china. there is so much we are not quite certain that we can believe. what do you trust and what don't you trust? >> i can't help thinking of late, china has initially wanted to create a manufacturing recovery. and now, it appears to be boosting asset values and prope

cheaper. what does that mean for our planet. we go to china where coal companies are struggling with mountains of debt. we are in malaysia where it has been flourishing in the industry. what does this mean for the environment? in south africa, we visit a city that has iron ore to thank for its size. basic commodities rule the world. exports of oil and coal are percent of multimillion dollar business for many countries. are often the most important source of income. that works as long as demand is high. then companies make big profits. for some time demand has decreased. markets are saturated and prices of hit rock bottom. over the past five years the bloomberg commodity index has fallen by 50%. a key reason for this is china's economy. growth there is weaker than it was so companies are importing less. many raw material suppliers are now left with piles of unsold stocks. china's problem is a global problem. it is the iron or capital of the region. most of the town's residents work in the mining industry. 10 years ago iron was still in demand. the companies flourished and so did

, capable of attacking the 10th continent. today, china has installed installations in an effort to control it, and is building bases in the highland islands there. the soviet union attended to keep u.s. forces that they by establishing to defense lines to control this blue wall right here. and the outer defensive line, operating to defense lines like here and here the first and the second island chain to deny u.s. access. but then, the soviet economy collapsed. including, the u.s. and japan. today, the u.s. and japanese economy might go broke as a result of that. the soviet union was a superpower, capable of a raging a global nuclear war. it is a long way for china to become a similarly capable superpower, involving conventional and nuclear. most of all, while the united states and soviet union were in the cold war, the united states and china, are not. based on a good understanding of those of those similarities and differences, we can learn lessons from the cold war experience and find a way to maintain peace and security in the asian pacific region today, while shaping mutually

, especially on the asia pacific rim and in china, but elsewhere in indonesia, turkey, brazil, india, hundreds of millions of people are now in the middle class. what does that mean? the good news there is for the first time in human history, half of humanity is no longer absolutely impoverished. so it's a good news story for humanity. the political implications of the growth of the middle class, which will grow by several hundred million more between now and 2030, the political implications are that middle class people want. they want better education for their children. they want better health care. they want a cleaner environment. they want a more accountable government. they want less corruption. and they want a voice. they want to have agency and participation in their future. now, what this means for governments everywhere are a lot of problems. governments are not going to be able to meet what those populations want. that's true whether it's aauthoritarian governments and god knows it's true with democratic governments. so and let me move on from that to the problem of governments to th

mackenzie is our china correspondent. marchprise rise in the purchasing managers index for china, 50.2. the survey had been 49.4. that is what the forecast had been. it follows seven months of contraction for china's manufacturing sector. it will be a positive for the government as well and the pboc. we heard there was going to be a fiscal stimulus. of thates on the back increase in the services pmi and follows the positive run and chinese stocks. it is not just investors. where seeing impact in the manufacturing sector. -- we are seeing impact in the manufacturing sector. government expecting 1.8 million people may have to be laid off from state owned enterprises. we have seen falling demand as well. that has eased off for the first time in seven months, an increase in the purchasing managers index of chinese manufacturers. rishaad: thank you. we get reaction to all this out of china and hong kong markets as they get set for the trading day. we get the open proper and half an hour. the opens in singapore, taiwan pay -- taipei, kuala lumpur. as we might have expected, the aussie dollar

uncertain future in china and he's concerned. >> we don't want to have a position in apple. to start, i think tim cook did a freight job, i have a great relation with him. i called him this morning to tell him that and he was a little sorry, obviously. but i told him i think it's a great company. >> after those comments the damage was done. the dow jones industrial average dropped 210 points to 17,830 apple the worst performer off 3%. the nasdaq fell 57 points. the s&p 500 was off 19. >> it wasn't just apple that weighed on stocks today. a big disappointment out of the bank of japan overnight sent some global markets lower. many expected japan's central bank to take further steps to stimulate that country's tepid economy. in the end it did nothing. as bob pisani reports, the market is still vulnerable to central bank movements. >> reporter: bank of japan declined to introduce new stimulus measures overnight, sending the nikkei index down 3.6%. it's been a rough year for the japanese market with the nikkei down 12% year to date as bank of japan's stimulus measures have had only limited s

traveled from mainland china. >> luxury cruise ships, carrying around 5,000 passengers leave for japan, south korea and other designations around the world. in 2015, chinese travelers spent a total of $194 billion overseas, ranking them the highest spending tourists in the world for the year. spring tour is one of china's largest travel agencies. with 4,000 branches nationwide. it has enjoyed surging sales, am am amid china's travel but it's not easy for people from mainland china to obtain tourist so what is behind this passion for traveling abroad? the various motivations of chinese tourists, reveal much about modern china. in this episode of asia insight, we follow a day in the business of shanghai's most popular travel agency. in the cold of january, preparations are underway for the chinese new year this is shanghai's most popular shopping district. and this is a branch of spring tour. a staff meeting before the shop opens. sales strategies being discussed, because the chinese new year holiday is one of the most profitable seasons of the year. it's 9:00 a.m., and the doors open fo

reason that we have negative rate is because we have a slow economy, whether it's in japan or china and the u.s. i ask you, what your take. i know your money is in china. but as far as the u.s. is concerned. do you think donald trump is right, we are on the doorstep of a massive recession in the u.s.? kyle bass: donald trump may be right for the wrong reasons. asia has a giant credit bubble they have been building for the last 10 years or longer that reached its atrophy level and it will happen the next two or three years. so whether that causes the u.s. the have a brief minor recession, i think it's 40%, 50% in the next year personally. but it doesn't mean that slow global growth is going to lead to persistent recession. i also don't buy his idea monetary policy can generate true organic growth. it can help us out of a crisis. but we have had 8 years full out monetary and policies philly he justed. when the guard goes to the g-20 and says we have to work together. we have been working together. now we are stuck with kind of stagnation and excess capacity and a lot of debt. maria: t

right. all we have to do is cut off american banking credit cards and he is done. >> okay. china. >> bill, including with china we have tremendous power with china because they suck our money out. they suck our jobs out. we have rebuilt china. you look at the bridges, the roads, the train systems, the airports they have. it's like we are now a third world country. they took that and much of it came out of our country. >> but here's the deal. if you tee the chinese off by a trade war or slapping tariffs on their products coming in here, they will be less incline to do help with you north korea and that was one of the things you mentioned in your policy address that you are going to mobilize china. >> they don't help us now. >> how are you ever going to get china to help us neutralize north korea if you saber rattle in the trade area? >> by telling them if you don't help us, it's going to be over. we're just not gl g. >> you are going to threaten them? >> it's not a threat. it's a fact. we have a trade deficit of $505 billion a year with china. they are just ripping us, left and ri

investor george soros says the global recession in china. plus -- i it would not be surprising, don't think it would take a heroic effort if you are being equities could return to last year, it would be a big statement. anna: we have the exclusive ,nterview with hugh hendry and why he is big on japan. manus: welcome to countdown. anna: welcome to the program everybody. it is just that 6:00 here in london. manus, big on japan? the most moves we have seen, 2.5% this morning. but really, that is just tying in with the global picture we have seen in equities. hitting the highest level since december. absoluted there is an sense of relief in the markets. 16% from the low, all predicated on whether you think that china has settled, and whether george soros is right -- china is looking like the u.s. in 2008. let us break it down. we will kick off with the s&p futures. we have a nice rally on the way, the s&p late afternoon was not so bad. to 61%ternoon, back probability of a hike in rates in december. anna: yes, exactly. oil price very much a price, energy stocks rising. asian stocks

market takes. china's borrowing costs jumps as the bond boom starts to unravel. making on the dead trade. first-quarter numbers support the strategy. ♪ -- banking on the debt trade. first-quarter numbers support the strategy. welcome to the pulse. where life from bloomberg's european headquarters. i am francine lacqua good we are expecting breaking news. let's go straight to the markets. we are seeing interesting moves. gaining crude 600 oil. i want to show you aussie dollar .ood with fx experts we have to quiz him with commodities. i want to show you gold just because it is something that we have not seen for a while at 1242. we'll get back to that as soon as it breaks. let's get to the bloomberg first word news with nejra cehic. brazil'snejra: president faces impeachment. lower house of congress voted in favor of putting her on trial in the senate. she maintains she has done nothing wrong. >> after the legal people approve it, the president signed it. >> before i sign any act all of this weightperts -- with the full knowledge of the acts i have signed, i had a clean conscience

question is what you miss? tracy: currency managers after the dollar falls. joe: china wants to get control of yum brands. we dig into what that means for the company and its investors when earnings cross in just minutes. guest says glencore is one of the greatest collapse and turnaround stories. we speak to mark patterson later this hour. we begin with our market minute -- stocks close higher but they came off their best levels of the session in the last hour or so. nonetheless, settling at the best since december. joe: some dispersion in the --ups, we saw safety stocks but you can see the headline market moves not that dramatic. that is something we will be watching for. when you look at the big mover, coca-cola was the biggest drag on both indexes. it fell as much as 5.5%, about 18 months were -- 18 months worth. exceed analystt estimates. investors want to see more evidence of a turnaround and did not edit from the latest set of results. andut its year to date gain half and is only up 4%. joe: we keep saying this every day -- new lows in japanese bond yields. again, hitting a br

smartphone growth rates have slow down in china and all over the world. when you look at the percentage change, you see some indifferent. the percentage changes, we see things have been getting worse on a year-over-year basis. that is bad news for these guys. what is interesting is they have figured out they can still make money right citing their business. have a profit margin that is getting better as they had cycled through issues managing costs. emily: the smartphone market is obviously saturating. high-end smartphone sales do not appear to be getting better. what does that mean for qualcomm? cory: it means they have to manage expenses. they can see where this is going. they want to get paid better in china. they talked about progress in that matter. customers that did not want to pay them in china, they have worked through some of that. yesterday, we were talking about intel. they finally decided with the , they are going to have to cut jobs. i want to show you a comparison to intel and qualcomm. intel, you can see times where they have had layoffs. you have layoffs announced final

>> china is showing improving conditions for the first time in eight months, the manufacturing purchasing managers index rose to 50.2 in march ahead of an immediate estimate. the government's fiscal and monetary stimulus is kicking in. meanwhile sentiment among japan's large manufacturers has dropped to the lowest level since mid 2013. stronger yen risks eroding in ts undermining efforts the economy. declining from 12 three months ago and economists had forecast eight in a bloomberg survey. we got nonform payrolls out of the u.s. later. ployers added 2005 jobs in a low. ing at charles evans says the employment situation is healthy, inflation means there should be continued caution. >> we are looking at an economy that is close to fulfilling its maximum mandate. unemployment is below 5%. that's a very good outcome compared to where he were 10% r the baseball chance of troip -- that's the reason why i think continued caution is called for, we need to have confidence to get inflation up 2%. >> the u.k. economy will shed workers and gain efficiency with the higher median wage, they

china, that delusions will be one day exposed to the fresh air. follow me on twitter @rishaadtv, and include #trendingbusiness. the hong kong open in 30 minutes. is one whereheme the bulls are firmly in charge. we are seeing arising region,across the filtering into the asia-pacific. , futures on the way up. japan leading the gains today. dollars so far this morning. we are on point for a sixth day of gains, $360 billion of market capitalization added. significant, but given the situation with the world economy. out in anade comes hour and a half, maybe. watch for australia, taiwan, and hong kong. have a look at what is happening across the currency space. dollar weakness and yen weakness overnight. the dollar starting to reverse that a little bit, so gaining against its peers. ,he yen still under pressure 108 .63. .63. the biggest winner in the fx space is the malaysian ringgit. that is normally something c. c when it comes to currencies. -- that is something you don't normally see when it comes to currencies. , the today oil chart, up 4.5%. moment on news that the deal between the r

. china may say stronger headwinds this year, the boost for real estate proves unsustainable. let's bring in malcom scott. growth quarter on quarter basis was a little below economists expectations. what should we be worried about? malcolm: those numbers do not seem to add up so well. quarter on the growth disappointed. --'re on your, it stabilized year on year, it stabilized. seems to be a mismatch there. the other key concern is just how reliant the country's turnaround has been on property. how fueledg sign is by debt this is. the credit numbers on friday were quite staggering, 2.3 trillion in the much of march. sustainedis can be into the rest of the year is questionable. angie: has the economy turned a corner? malcolm: it is how you view this property recovery. if you view it as something that will spread from top-tier cities and there will be some more demand related as new people by furniture, new cars. if you believe in that story, maybe the economy has turned a story. if you are a little bit worried about the sustainability, maybe not. deutsche bank, they came through and s

open across the asia-pacific. seoul's kospi is trading higher. a touch better on tuesday for china shares as well. after data showed inflation was holding steady, suggesting people's bank of china may be a little less aggressive on its policies. we shall see when the markets there hope in an hour and a half. that's all from me. back to you. >> ramin, thanks a lot for always keeping you up to date. ramin mellegard from the tokyo stock exchange. >>> when western sanctions against iran took effect a decade ago, global companies started leaving and eventually most left. now that sanctions have been lifted they're rushing to go back. and one is a japanese firm hoping years of waiting will finally pay off. >> this is the president of a japanese paint maker who is ready to make a move. he's told his executives to prepare for a return to iran. they earned 60% of its sales in foreign markets. car coating is the pillar of its revenues. more than 1 million vehicles are built and sold in iran every year. making it one of the largest auto markets in the world. foreign paint is seen as high qual