the president has called on you to represent as the ambassador to japan. this is a momentous time in our alliance. in this time of challenge and widening threats in the region, the u.s.-japan alliance remains the cornerstone of peace, prosperity and freedom in the asia pacific. the united states and japan stand together resolutely to confront whatever threats are posed to us, especially those posed by the regime in north korea. [applaus [applause] >> and the president is also committed to expanding our bonds of exercise, as the president said when he met with prime minister abe, the exchange between us is truly a blessing and so it is. and through the dialog the president had me launch during my vision in april, our countries have been working for our bilateral ties and we're looking to advance that. bill, given your record, leadership and distinguished history the president and i are confident you'll excel in this role, to help make the extraordinary friendship and alliance between the united states of america and japan even stronger. now it's my great pr

already is japan? clearly not enough and then to be prepared for this growing challenge. >> and with the launch of the icbm if you're looking at 1998 the sky over japan there was a flight with that missile launch but in any case that prior to that with that information with the ballistic missile off that japan needed that was a time that they did not except that but it was a ballistic missile that flew over japan. and that this system should have been deployed earlier. and then now that the ground bass network has been put into place. so naturally with the number three is situation with north japan if it is deployed bin that is the exchange of data. and with that prepared ness. and not only the of ballistic missile. but without the okay we cannot go anywhere it is very difficult to take those missiles to north korea. secure perceptions of our relations unfortunately politically is true. but then to become the chief of staff and during that period and to have a good relationship that is different but th

how vulnerable is japan? trump come on japan, has been very kind. you have seen none of the harshness of the statements you have with germany. --nically, that corporation the cooperation between japan and the united states is the best bilateral we have so far. there is very little gold that wantslittle that americo in terms of pressure from japan. but they do want something from china, they want access. secretary ross was very clear, he wants more made in america exports to the world's fastest-growing market, which is the people's republic of china. nobody in america is going to make that statement. the american car industry is not interested in selling more cars to japan, because the japanese car market is not a growing market. yvonne: stick with us throughout the hour, to tell us more about the boj. we have big-name guests coming up on bloomberg television from unilever's -- week: and after that week to a ceo, bill mcdermott at 6:40 p.m. in hong kong. ♪ yvonne: don't miss our interview with --this is bloomberg. ♪ yvonne: this is "daybreak asia

japan's on the front line. all these point toward more sharing of strategic assessments and the group of distinguished former chiefs of defense forces and commanders and so forth are perfect to contribute to that dialogue. most importantly, msf, military statesmen forum, has established itself in washington as a legitimate and important national security sculptuins in. this was an off the record discussion, but i have permission from the organizers to ask a little bit about the discussion. i wanted to ask each of the admirals and generals on stage, you know, what their make jurjo takeaway was and particularly from this meeting, what is the conclusion, the surprise, the imperative thing we must do that you took out of the meeting? and i'm going to start admiral burr on this end. then we will do reverse order for the next question. >> well, i think when you are called a statesmen, that's another word for old guy. and i'm going to take a little bit 5d vantaadvantage to give a perspective on u.s.-japan military rel

firmly committed to our treasured friend and ally, japan. one of the clearest signs of that commitment, i believe, today is the president's choice of bill hagerty as america's embass car -- ambassador to japan. [applause] bill, throughout your life, you've helped to strengthen the ties between america and japan. it started early in your career when you actually lived in japan on a three-year assignment as a consultant. you then served as an economic advisor under president george herbert walker bush. in your time as commissioner of the tennessee department of economic and community development, you worked with japanese firms to make investments in your home state that created good paying jobs for the people of tennessee. your commitment to japan reaches far beyond a professional level. your service on the board of the far east council of the boy scouts of america has brought the people of our nations closer together. and has deepened the friendship of our nations for generations to come. president trump has now called on you to represent the

japan u.s. are two different countries and therefore regarding the issue pertaining to sdf or the u.s. forces, economic situation, what is legal, what is not legal, of course there are differences between the two countries. this is the first round of the conference. and in the course of the four conferences we have been discussing a lot of the discussions about wide-ranging issues. and the discussion connected here will be submitted the two governments. and the u.s. forces and for the sdf. i think we're able to give a lot of advice to those institutions. and therefore the deliberations on the accomplishment of the msf is quite substantial. >> one of the photograph cusses of north korea is one of the drivers of change in our alliance. 20 years ago, japan was largely in the rear area. today there's so many threats emanating directly from north korea. missile, cyber and so forth and now directed towards an american homeland. it creates the necessity of joint preparedness as allies between. and japa

well, not only does japan take on china, but japan wins. our story in world ar ii is as part of that, the formosa -- there's my clicker. is in factof formosa japanese territory after that treaty with china going ahead ending that conflict. first war, what happens? japan moves into korea. sort of a state of japan at that point. and it puts japan on a collision ourse with that other great power in the far east, russia. we all know about the russo-japanese war, 1904-1905. with a sneak t attack on the russian fleet at port arthur. there.stroyers in there. it's very much a surprise attack and the results of the war including the great naval really wiped is out as a power in the far east. step in takes another terms of going ahead as a world power. me suggest that the first orld war, japan is actually an ally of the united states and the other allied powers. naval even a japanese squad that's at work convoying ships in the mediterranean. but what does world war i really story, erms of the big particularly in terms of midway? of versailles y goes

anna: in japan. the deputy finance minister talking in japan, supporting the abe administration and supports the premise are at the time of this defeat in tokyo. manus: 23 seats. anna: much below expectations. manus: yes. the bundesbank got help this weekend ensuring monetary policy would be adjusted. he said the central bank and shift stance even for inflation. anna: playing the supporting , selling with the ecb is doing if you like to the german public. ersch saying we can act in some way. where does the ecb go? the tcp needs to see a broader set of indicators inflation is picking up. swap is 1.4. has been clear in the governing council have been supported thus far of wanting to see that pushing towards 2%, which we have not seen for two years. until that point happens, the ecb governing council will remain in placating mode, not action mode. manus: last week, one of the most staggering moves was the move on the bund market. this was almost three standard deviations. deviations on the und market. i

the hagerty family heads to japan and it's a big crew. we also have many other honored guests with us today. including the commander of the united states armed forces japan, general jerry martinez. and many distinguished members of congress from his home state. as well as the senators that i mentioned before. in fact, it's important to note that senator corker is in fact the chairman of the senate foreign affairs committee. and we're truly honored to have you and senator alexander here. we're also joined by members of congress from the house of representatives in tennessee, congressman john duncan, congresswoman diane black, congresswoman marsha blackburn, congressman scott dejar less, david cuss staff and congressman phil roe. will you give them a round of applause? [applause] and i know it's a particular honor to have with us bill's counterpart, japan's ambassador to the united states of america, ambassador sasei and his wife. [applause] as well as the special advisor to the prime minister and kawai.ki [applause] as i had the privilege

as the rest of corporate japan goes home, young inventors a re corporate japan goes home, young inventors are dreaming big. the sign on the wall says never miss a good opportunity. for many who try and follow his footsteps, it may not be the of opportunities, but the fear of failure, that is holding them back. and she will have a lot more every week. the elite hackers of the world were recently in las vegas for defcon. the best way to get support from hackers is an onstage demo, and one from hackers is an onstage demo, and u from hackers is an onstage demo, and one group did it, and they did it with a cheap robot. there are several hundred here. they are trying to hack that safe. from the outside of the safe, this thing is magnetic, we walked up, attach it to be safe, and it starts doing its thing. —— walk. —— the. a normal state has 1 million combinations. this reduces that from 1 million down to 1000. doing a demo at defcon is stressful, but we are pretty excited. clapping. so excited. we got it open. that was the scariest thing ever. this robot is never going to come into someo

japan, boj's today meeting started today. it may be enough to see the real ignition of yen the plight of safety moves after the president's health care failed. 112.05, still a bit of strength here in dollar-yen. equity futures up higher, slightly by 10 points right now. -- you didmention mention the s&p hit a record. it sounds like the bond markets are saying rates are going to stay lower for longer. we will talk about that keystone in a moment. in the meantime, the dollar lower, sliding to that 11th month low, stocks clawing back. they did reach new highs. su keenan here with key market moves to watch. you mentioned the trump disappointment or defeat in the health care, a big hang over the market. we talked about how it was a record close. notice the nasdaq and you might not notice what is underneath stocks,the fang facebook, netflix, amazon. netflix really tore it up this time yesterday in after the bell. it was up in a very big way in the regular session. harley davidson reported earnings, big disappointment, letting the m

the relationship between the uk and japan could be damaged?” the relationship between the uk and japan could be damaged? i think there could be eight benefit for the uk. i'm talking specifically about tariffs. if the uk can manage to retain the benefits, and the deal is signed and enforced by the time the uk leads, it could actually still apply to the uk, but that could be negotiation with the eu. i think it is in the uk's interests that this deal is enforced before it leaves the eu. what do you think the major hurdles go to be when it starts to ta ke hurdles go to be when it starts to take a fact? when will we see some backlash? with respect to automobiles, that is why you have that seven—year period. agriculture is or isa that seven—year period. agriculture is or is a sticking point. they have a lot of legal scrubbing to go through to make sure that they agree a deal that scrap some of the ta riffs a deal that scrap some of the tariffs in sensitive areas, such as pork and dairy. those are sticking points at the last minute. thank you v

what about a post- brexit uk trade deal with japan? the eu hasjust brexit uk trade deal with japan? the eu has just signed brexit uk trade deal with japan? the eu hasjust signed one, could it collocate matters for japan eu hasjust signed one, could it collocate matters forjapan to side with the uk? the fact that there is already a trade deal may make it easy. in principle, there is nothing stopping the uk and japan from keeping that deal, even after the uk leads the eu. that would obviously be positive for japanese manufacturers and car manufacturers, the existing tariffs would be remaining the same forjapan. the european union's chief brexit negotiator has asked britain to clarify details regarding settlement and citizen's rights. that followed discussions in brussels. while the eu is demanding compromises, the uk's top negotiator seemed encouraged by the progress made so far. there is a lot to talk about and further work before we can resolve this. ultimately, a solution will require flexibility from both sides. negotiations have onlyjust started. of course there are compromises t

japan's economy is doing ok. the japanese stock market is doing relatively well, so the near term does the writer for those earnings -- brighter for those earnings. are interested in investing overseas, bond fines, indian equities for example, nomura highlighted that, so there is interest in the near term, but the confidence of japanese investors can easily be set back by any pullbacks in the markets which inflict losses on them and confidence come a near term looks relatively optimistic. >> especially with the nikkei 225 about 20,000. you have to be careful. david marshall, thank you. those banks and financial results coming through in japan. noon,osts results at midnight in new york. sayingday times has been the bank will announce a two billion dollars share buyback, the first phase of a three-year program to run down its pile of cash. we will have all the developments here on bloomberg. >> coming up, yes come you know, as he makes it happen. it has become a reality. cells and whistles of the model three unveil

there has been a free trade deal struck with japan, the eu and japan. there is no freedom of movement, no single market, but a free—trade deal. freedom of movement, no single market, but a free-trade deal. we are looking for a similar thing. keepin are looking for a similar thing. keep in mind we are a member of the eu, and the smoothest transition to become out of the eu would be with access to the single market or the customs union. we are looking for a different position from japan, but we wa nt different position from japan, but we want something similar. in years to come... in years to come, it won't be the same kind of smooth and frictionless borders we have at the moment to do the trade. the president of the bdi, the federation of german industries, says it is the responsibility of the british to limit damage for both sides. he is talking about imminent effects.

broker japan bond trading has seen days when no bonds trade hands so member. volatility is that down to all time lows is like no heartbeat that's like the heartbeat of the of the markets and the it's flatlining it's flatlining the us is flatlining in japan there's no volatility right you need volatility to toot toot toot to create free market capitalism you need that in the case of flow just like the planets rotate like or fall becomes winter becomes ring become summer you know there's a natural order to the way things move through a cycle heart beat for full bore imagine if they just wanted it but we don't like all that volatility we're not just be like have. them in so you know they say the only fish that flow with the current are dead fish and here the current is basically death and the markets are entering a death spiral and the central banks are the cause of it the price of money is zero so they have the market price discovery is immaterial let's talk about that price discovery can they have these two set to other sections that are really important to sho

well, young people in japan it seems. new research suggests there are more and more who are not having or have never had any physical relationship. the bbc‘s rupert wingfield—hayes has been trying to find out. japan has long been famed for its sexual culture. whatever your taste or fantasy it's catered for somewhere here. this is the country that invented love hotels, so what on earth has happened to japan's youth? anna matsui is part of a growing army of young japanese living sexless lives. over 40% claim they are virgins. even more, over 60%, say they're not in a relationship. do you feel like a lot of your friends are like you, not in sexual relationships? are you surprised by this? these women are clearly a little different. just, like, you know, you can feel... rokude nashiko is famous for making a 3—d image of her own vagina and pushing it on the web. so if young japanese men are all watching porn on the internet, what about young women? it could be internet pornography, low self—esteem or escaping the patri

but japan is going to do what japan wants. japan wants to have the weaker currency and more inflation to the system. -- would you grade >> in my opinion it is a nine out of 10. it is a very good thing by switching away from quantitative targets toward the interest rate target. that target happens to be zero. whether it takes a balance sheet is irrelevant. that is something the markets would still have to get used to. >> thank you so much as always. >> you are supposed to say you love my forecast. >> i also love your glasses. he will be back with us again when he comes back next. thes get a check of headlines with mark crumpton, who is not wearing glasses that change colors. >> according to the new bloomberg national poll, americans feel good about the economy, but not so good about the president. 58% of those servants said they are moving closer to realizing their own career and an agile aspirations. that ties for the first since 2013. 55% of americans view president trump unfavorably. sinces up 12 points december. his made in

at all for you on japan? no, these numbers do not change our view that despite the market tightening and upward the tick up in inflation will be muted in the long-term. betty: so what does this mean? it seems that every time we get these numbers, there is chatter about what the boj might do. are they on hold for the time being? no choice butve to be on hold for the perceivable future. -- the foreseeable future. i think the challenge they face is that inflation expectations remain very, very weak. if you look at private service prices, which should be the most sensitive to the take up, -- there is. i think it is going to take a lot more time for this kind of pricing behavior to slowly change. betty: how long is that really going to take? this is not the only conundrum that japan is facing, this tepid inflation. can you blame it on external -- all the the talks talks on how the phillips curve is broken? izumi: to be fair, the bank of japan faces a unique challenge in the sense that there is a good chunk of japa

do not fight the bank of japan. that is the message of d.llar-yen, perio they came in and battered the bond market. so you have them dropping to an eight week low as japan comes to the market and sends a very clear signal. .04% at the moment. the u.s. output has expended by the most since january according to the eia. that's the only focus of the oil market. let's get global with the first word news, juliette saly standing by. the u.s. russia is seen as the chief suspect for hackers working for foreign governments, recently breached at least a dozen american power plants. according to current and former u.s. officials, the new their facility was among the sites targeted. the warning has sparked concerns that attackers were searching for more abilities in the electrical grid. a u.s. led effort to broker united nations security council statement condemning north korea's latest missile test has broken down. according to two officials, the u.s., france, and the u.k. were unable to overcome objections from russia and chi

cap ask of japan stood expected. the asx 200 looking at a good as well although the aussie dollar -- has clawed back a little as well. unemployment picking up slightly to 5.6%. watching,tocks are still a lot of focus on the deal out of hong kong. deal.partner joined the morgan stanley saying the injection is very positive. it's up almost 16%. the energy producer looking good, the biggest jump in seven months on the upgraded output. some weakness in some of the korean stop. on lcd panelnote prices coming under little bit of russia. the aussie dollar retreating, have a look at this chart. the aussie dollar trade weighted index remaining stubbornly high. it has risen 6.5% since the start of june. we've heard from the hsbc economist saying the interest rate hike usually as about 5% to the currency. cash rate which is at a record low of 1.5. but the stubbornly high aussie dollar creating headaches for the rba but not able to through the benchmark today. manus: thank you very much. took no stepspan to dial back there aggre

japan in the spotlight after shinzo abe's tokyo drubbing. winning, thee worst ever performance for the ruling party in the capital. >> china's latest hong kong connect starts today, new access to its $10 trillion debt market. what is next for the fed? inflation means a fed hike moving to the back burner. we have the numbers from the latest hong kong survey and discuss the implications of tokyo's election results. >> a terrible outcome for the prime minister. tensions in north asia as north korea continues to worry leaders around the world. we will get an update from beijing on the latest. this is "bloomberg markets: asia." i am betty liu here in new york. >> it is just after 7:00 a.m. in hong kong. busy monday in asia with president xi jinping delivering that 20th anniversary gift hong kong, right? the bond connects set to launch this morning. we are expecting a ceremony at 9:00 in hong kong. also, japan as well, a major setback for prime minister shinzo of days party -- shinzo abe's party. >> we are looking at manufacturing a sectors and ho

never a dull moment in japan. francene asked the important question, what is the linkage of kuroda and the bank of japan into this politics? we forget dominant the japanese economy is. what is the to do list for kuroda? is so surprising about the election is that the japanese economy has been outperforming expectations. of 1.5%rters in a row annualized growth. and despite the decline in the population, you have seen that there is a pickup in the labor force growth and employment. and the increase in the labor force, a lot of that is to two abe -- about nominal gdp? what about the chart i put up with the pernicious deflation? prices are not cooperating. mickey: i'm looking behind you at the chart. it is stunning. the reason why you have had deflation -- the general price level has been about stable -- but in 20 years you have not had a material increase in nominal gdp growth. tom: it is unbelievable. oj has thrown massive amounts of qqq 80 at the economy has not responded. tom: we will come back with a look at the

masuk has been living temporarily in japan for 11 years. he reapplies at immigration bureau every two months. when he tried to reapply this december, something he's done more than 60 times, immigration workers told him he was being deported. his request for refugee status finally denied. locked in detention for five months, ghoul became seriously ill. officers took him to the hospital in shackled. >> it sounds to me like you're describing a prison. did you feel like you were in prison? >> yes, it is, he says. i was living faithfully, h honestly, following japanese laws. i believe i would be accepted but i ended up being detained. ghoul is appealing his deportation order. he says even this life is better than what he faced back home. japan's justice ministry says nearly 11,000 people apply for asylum last year, a record. the immigration bureau accepted just 28 refugees. >> government tells cnn people abuse the system, that many seeking refugee status are actually economic migrants and that japan, world's third largest economy, already donate

japan. huge implications. there is a smalljapan in india because it is a great place to build and invest, but they want their own world while they are there. japan is fantastic. in this area in india is fantastic. in this area in india is fantastic. it is just outside of new delhi. they have built a tiny japan. they are making their cars. hondas are there. the other types of cars they make. three and a half billion dollars has been invested. they want their own food, they want their own housing, they want their own culture. it contributes greatly to growth. i think this is what you could see culturally with problems in other countries, they can bring something to another nation. it is fantastic. is there an issue with a lack of integration, going to india and setting up their own japanese enclave? to be honest, i don't think japan gas. japan is the country for japanese people. —— care. . it is brilliant and it works well. the fa ct brilliant and it works well. the fact you think they should integrate, i do

we go tojapan, we go to japan, now. heavy rain and overflowing rivers in the southern japanese island of kyushu have forced almost 400,000 people to leave their homes. a rare weather front in fukuoka prefecture, caused water surges to inundate homes and roads. forecasters have given a warning that heavy rain over the south will continue through thursday. david campanale has more. surging, foaming torrent of rain are not normally at scene like this in southern japan. rivers have burst their banks under the weight of water, and landslides and muddy rapids have caused damage to residential areas. weather forecasters say the rainstorm is unprecedented. translation: we are in an emergency situation, as in grave danger. i would be surprised to hear that there is already serious damage due to landslide or flooding. over half a metre of rain fell in the space of just 2a hours, and the majority of that in just four hours. 400,000 people have been evacuated and there are reports of some fatalities. translation: if you are already

because japan caps yields at zero. that will put further pressure on the yen it helps japan the more europe and the u.s. tighten what to expect from mario draghi i don't have particular ensight. but i think the weakness of inflation in japan, in the u.s., globally has to give them cause for concern about moving aggressively towards tightening. it's a global phenomenon this weakness in inflation. >> robin, thank you very much for joining us robin harding, financi inghardi. >>> still ahead, one tech giant worn out from wearables. first, here is today's national weather forecast from bill karins >>> good thursday morning to you. the heat is the story. we're at the peak of the heat wave st. louis, omaha, kansas city, wichita and even philadelphia under heat warnings. heat advisories from bothen south to philadelphia and washington, d.c. just about everyone is in the heat wave. some of the hottest temperatures in the midwest once again. omaha feeling bike 1like 110 dallas, 107. new york city peak out at 100. d.c. on friday,

japan futures up 30 points today. seeing a bit of dollar weakness against the dollar yen, holding at 112 or so. david: roughly. yvonne: i am yvonne man. david: and i am david ingles here in hong kong. we talked to goldman sachs on thursday. there are signs in the japanese economy that inflation is about to creep in. bank's chief of japan says it is likely the boj will persist with its current policy framework given ambitious targets. >> the top of mind question for many investors we speak with is, what is the endgame for this so-called yield curve control, quantitative framing easement and asset purchase program? on, post histay expiration of next april? the number one question is, how much longer can the bank of japan sustain the current program. for what it is worth, our view is, because they set their inflation target quite high and ambitious at 2%, it is quite likely they will persist with framework, including yield curve control and asset purchases they are currently executing. having said that, we are of the vie

interest rates of banks like bank of japan so there are now it crossed over the event horizon into a place called death again now the central bank is waiting for these folks the japanese bankers are pouring into hades now and you know the legend goes there in mexico as you enter the afterlife you there is a mirror that you face and you see who you really are and so janet yellen as she dies a central bank death she'll see that she's actually a pineapple or marrow draggy as she walks down the stairs into hades or hell he faces the mirror and sees himself who he truly is will understand that he's a rancid slice of pizza caught in the motorcycle wheel of a twelve year old bantustan living south african child who's a mason ate it thanks to his policies or you have janet yellen as she enters the post capitals life of a central banker into guillermo's death camp she walks down the stairs and days and faces the mirror of who she really is and it's jim rogers stool she's a jim rogers stool this is who she really is she's james grant's nose hair that's who janet yellen really yes'. ok well you

japan futures is the one to watch. we are seeing about 130 point game at the open with futures coming up a bit. gains about half of 1% right now. the move in the dollar right now seems to be the star. dollar-yen breaking above 113. a lot of questions about shinzo abe right now. the shell of his most divisive policies and the tokyo defeat. more to come. this is bloomberg. ♪ yvonne: asia pacific stocks set to rise after wall street saw fresh highs. betty: oil is extending its best winning streak of the year and on the longest run since 2012. the u.s. is cutting rates for the first time in 24 weeks. yvonne: a bruising defeat in tokyo. it may face a change of policy. betty: china and russia say they are getting on famously. the u.s. is mourned about new negativity. yvonne: this is the second hour of "daybreak asia." i'm yvonne man in hong kong. betty: it is just after 8:00 p.m. in new york. i am betty liu. we had a shortened trading day today given the independence day holiday. we still managed to reach some highs before

where would japan be? when you come to the abe government, there is a great need for reform to continue. the concern in tokyo is will abe focus on the constitution? or will he really focus on the economy? voters will put the pressure on him to focus on the economy, then may something happening in the labor market. so much for you that, unpacking the japan data deluge this friday. marketsead on bloomberg , we discussed earnings at 9:40 hong kong, always a colorful conversation. the numbers and the broader outlook for the property market, but before that, we look at japan again and why that 2% inflation target is proving so difficult. this is bloomberg. ♪ ♪ let's have a look at the latest business flash headlines. deutsche bank tumbling after it warned revenues will decline , $522 million above estimates, but down 10% from a year a back from the lowest since the end of 2013. >> it will come to reduce costs in the future. we continue to try to modernize the bank. we distinguish between expenses and invest

the japan times covers that story too. but its front page picture highlights the future of train travel, with this artist's impression of the next—generation shinkan—sen. a io—car test train could be operational in 2019 and might be reaching speeds of 360 kilometres per hour — considerably faster than any train i have ever been on. sleek design. you also mentioned the pandas arriving in berlin zoo. pandas are perhaps the most adorable ambassadors in the world. they've been a tool of chinese diplomacy since america's president nixon visited the country in 1972. now, germany, host of this week's g20 summit, is on the receiving end of panda diplomacy. jonny dymond has more. they may look friendly, but don't get too close. china's loan ofjiao qing, "darling", and meng meng, "sweet dream", comes from the global superpower with a price. it's worth paying attention when germany and china meet these days. germany is europe's undisputed leader. china's surging economic power is turning into global political muscle. the chan

the european union and japan are gearing up european union and japan are gearing up to announce a landmark free trade deal. the two regions have indicated a commitment to open trade, in contrast to a protectionist measure taken by president trump. let's bring you a quick recap on how the markets are doing. in europe, following a downbeat session over in asia, the european markets are also down. in london, it is flat. and now let's get the inside track on online payments. alipay is the world's biggest third party on line and mobile payments app. it was originally part of the alibaba stable, but is now a standalone business and allows third party payments for millions of chinese consumers. it's the most popular payment app in china — and its trying to push out into the rest of the world and taking on the likes of paypal. joining us now is rita liu, europe middle east and africa president of alipay. many thanks for joining many thanks forjoining us in the studio. good morning. iwasjust going to ask you about the genesis of alipay. it is somewhat controversial, it was spun off from alibaba i

japan and south.

said it landed in tisha of japan. it could be the most successful yet and given the potential range to reach alaska, it sends another message to washington. president trump tweeting north korea just launched another missile. hard to believe japan will put up with this once and for all. perhaps china will end this once and for all. this isn't the first time north korea has tested missiles on the fourth of july. >> good morning. no, it isn't the first time they tested a missile on independence day. the last time was 2009 when they launched seven short missiles into the sea of japan. this latest test, the latest one this year seems to be done for maximum political impact on the fourth of july just after president trump spoke with the leaders of japan and south korea about north korea ahead of a g20 meeting later this week. it was a land-based missile fired near the airfield and flew for 37 minutes before landing into the sea of japan. japanese officials say the missile may have landed in waters claimed by japan as its ex

so the bomb dropped on japan on august 6th. and on august 9th hiroshima -- the 6th. and three days later nagasaki. why three days? originally it was a five-day spread. the reason for the five-day spread was that it was expected to be a very complicated process for arming the second bomb, the plutonium bomb, but the scientists are very gun hoe where the planes to attack japan took off from. and when the colonel's plane the enola gay comes back to tinian after the successful raid on hiroshima. the scientists say we might be able to do this in four days now that we've had the experience with the first bomb. and tibbetts says can you do it in three days, because bad weather is expected to come in. and that's in effect what happens. that decision, that three day spread is made by gungho scientists and army air force personnel. it is not a truman decision, it is not a henry simpson decision, it's not a general groves decision, it's a battlefield decision. so three days. after the atomic bombings, what effect does this have on stalin? everyone was worried about stalin's rea

well coming up tit for tat north korea launches a missile into the sea of japan just as japan flops ancient on chinese firms accused of helping pyongyang and affordable no more health care costs have skyrocketed since the start of obamacare but wait till you find out how much the c.e.o.'s are making plus scoring big in sports should superstar athletes ditch the leagues that made them rich and branch out on their own that and more coming up on boom bust it all starts right perfect now. perfect . north korea launched another missile just before midnight friday that landed in the sea of japan according to japanese officials authorities believe it crashed down in japan's exclusive economic zone though not in its territorial waters but was still within a few hundred miles of the coast this test comes the same day japan blacklisted two chinese companies for their connections with pyongyang the japanese foreign minister said the companies will be subject to asset freezing and other punishments a way to continue applying pressure on north korea and its nuclear drive one of the organizations is chin

japanate broadcaster in and this is being sourced by yonhap. we will keep an eye with developments on that. let's look at the first word headlines. haslinda: an unexplained some of the world's biggest companies either take off or die in after-hours trading. amazon and microsoft slumped while apple was up. the dramatic movements triggered trading halts. nasdaq was unable to immediately comment. chinese president xi jinping has arrived in russia with the talks -- for talks with president putin. beijing will find dozens of agreement to deepen cooperation. current russia-china relations have been described as the best in history. xi are expected to meet on the sidelines of the g-20. rtel nations raised collective output. most of which came from libya and nigeria. prices rose strongly with oil having its strongest run of gain and enjoying its longest rally since 2012. analysts of chinese stocks expect the markets to remain steady in the run-up to the communist party conquest. se 3 percent quarterly. dayal news 24 hours a powered by more than 2700 jo

>> well, michael the sheer proximity of japan to north korea it leaves japan in a vulnerable situation. i think that's why there was strong language from the japanese government fairly quickly after this latest missile launch. the prime minister, abe is making his way to brussels to meet with eu and later to ham berg to meet with the leaders of the g 20 to try and see if we can bring together the international community to try and reach consensus for a stronger response from these moves from north korea. especially, because eu's sanctions and trading bar goes behind many nations failed to contain the threats of the heightening risks in the area. i think at the same time, many of the options that japan has, including michael, the possibility of increasing its ability to deter a missile, should something approach the mainland here in japan, are fairly limited. because, freely and voluntariory ja pan were to upgrade its current missile system, defense minister has said japan is considering doing that, but this would really upset china. china was very upset with south korea with the thad s

japan will never accept a nuclear-armed north korea. the north korean official media has announced that they successfully carried out the launch of an intercontinental ballistic missile. that missile reached an altitude of more than 2,500 kilometers, flew for about 40 minutes, and landed within the japanese economic zone. approximately 300 kilometers of the peninsula. a number of japanese fishing vessels were out in the sea at the time of the launch. this shows how dangerous and irresponsible this act by north korea was. if it hadn't been such a lofty launch, the missile would've flown for more than 5,500 kilometers, and could have reached many other member states' soil. these provocations by north korea trample upon international efforts towards a peaceful resolution of nuclear and missile issues and present enormous global threats. as north korea claims they are capable of hitting any part of the world, the threats have literally become global. this most recent provocation made it even more evident that conditions are not right for di

i am from japan, and i am representing japan with the flower sakura, cherry blossom. robert: what's your thought about being a part of this project, the san francisco exhibit? ayomi: what's unique about japanese cherry blossom is that japanese people think more about falling of the flower petals instead of just about blossoming. so, that's very unique about japanese culture, and i focus on that aspect of a flower. robert: why do the japanese view it that way? ayomi: as a japanese, we learn from--ever since when we're young, we learn that life is transient, and cherry blossom express exactly that concept. so, even from second day, flowers fall. that kind of thinking told us to live fully every second. robert: why did you make part of it public participation? why participatory? why is that important for you? ayomi: i think this is really meaningful experience for both visitors and myself because, in a museum setting, usually visitors see already completed art object. however, as for this project, they can participate, and then we can actually create something together,

and japan. you do see that japan still has a trade deficit with the eu, but a strong surplus with the u.s. in the white bars. if the deal goes through, how much could this cut the u.s. off in the import industries, especially like automobiles? the timing seems directed at donald trump and his protectionist policies. stephen: i think it is a coincidence, obviously it is in the interest of the eu to speed up the agreements and negotiations, but these things take time, sometimes it takes years. so a coincidence to really clinch the deal right now, but i think the u.s. trade relationship with everybody else, with china, japan or europe, it will not be substituted immediately. in the short run it may not seem important, but in the medium to long-term the u.s. will probably see the effect of all of these future agreements outside of the u.s. yvonne: great to have you. lecturer at the chinese university in hong kong. still ahead, the cofounder of the arrow brand joining us to talk about the effects of

-japan alliance, the security alliance is the bedrock of japan's security, national security agenda. so i think since the u.s. president came into office, the prime minister shinzo abe has made it clear that he wants to provide a very united front, that its cooperation is intact. and i think japan has tried to play the role of a mediator, because so many nations are involved in this area at a very critical stage. >> well, thank you for that. and all eyes really on that u.s. reaction. but also crucially the chinese reaction. because andrew, it's probably true to say, isn't it, that donald trump is going to say china needs to step up now. >> it would be very surprising if he said something different, max. and china as yet has not made a public comment about the launch, and b, the news that north korea is claiming it's an icbm. all along china has said very clearly that, a, it does want to see a denuclearized korean peninsula. and b, the best way forward is through dialogue. that's not what donald trump has been talking about. he is saying that china needs to step up on the economic fro

it came down in the east sea, the korean name for the sea of japan. in the past few days, president trump has been speaking to asian leaders ahead of the 620 summit, seeking their co—operation on north korea. and in the last couple of hours, japan has protested strongly, calling the launch absolutely unacceptable. in a moment, we'll hear from the chief secretary of japan's cabinet, but first here's china's ambassador to the un. earlier he warned of disastrous consequences if tensions with pyongyang are not eased. currently, tension is high, and we would certainly like to see a de—escalation of tension. because, if tension only goes up, and goes up only, then sooner or later it will get out of control, and the consequences would be disastrous. and i'm sure it is in our common interest to avoid anything like that. today's firing of a ballistic missile is a serious issue when considering the safety of airplanes and boats in the area, as well as a clear violation of the un resolution. japan has strongly protested against north korea, as we cannot acce

hong kong, japan, two-year highs. i am rishaad salamat coming to you from bloomberg's asia headquarters. haidi: i am haidi lun in sydney. is theer big story resilience of the aussie dollar, the fact of tightening for the they did notning want. up 10% so far this year was 6.5% against that trade weighted basket june alone, so one to watch out for. the shanghai, hong kong markets opening up. here is sophie. sophie: we have chinese stocks on the back foot, down .3%. hong kong managing gains, rattling for a 10th straight day. we do have the kospi swinging to gains in the morning session, but elsewhere, losses in sydney, taipei, and tokyo. we had the yuan fix slightly stronger. the yuan down .1% against the dollar. i want to show you some stocks moving. , bydse stocks in hong kong electronics sees a substantial rise in first-half profit, popping almost 8%. sliding 5% after hitting the highest in the year on thursday, snapping a four-day rally. artificial intelligence related stocks in china, flipping the plan tohina has a

inside japan, the growth has to be low. trying to believe in reflation may be too much to hope for for japanese retailers. as i said earlier, going overseas is one concrete strategy they can take on. and i look at industries convenience stores, they are doing well on that strategy. the worst fronts are the department stores. you can see that in numbers. glad you mentioned convenience stores. we have a chart that shows the growth of convenience stores over the department and grocery stores as more traditional, larger ones. it has been interesting over the last several years, the gap has widened considerably as shoppers in japan are going to these convenience stores for things like their milk and cold drinks, laundry. that variety of products being offered is just widening. why is thisthis is, phenomenon happening? takuji: i think convenience for the changing demographics of japan. they are adjusting to a single household they do not have to cook, so they buy precooked meals at the convenience stores. on the other hand, depar