one of the richest women was defeated. the eldest daughter is better suited to the role. top stories -- do follow me on twitter. let's have a look at what is going on market wise. yvonne has the news. yvonne: we are seeing that slump continue. -- in theit of a loss last half hour. it was that about 3% earlier but now it is at about 2.4% in the shanghai composite. the hang seng is just fractionally lower. close to 10% in the last two days. the most in six years. similar nine, we saw losses and two days of trading. we are showing a magnifying glass to climate shares. what is going on in the debt

problem in china. it exceeded $322 billion in margin debt as of wednesday for the past year. up five times the level that we have seen from last year. according to bloomberg calculations. securities are saying this negative reaction is really on the margin trading curve. it is not a reflection of long-term factors. more than one in five companies on the shanghai composite word down by 10% -- were down by 10%. seen some gains. they are up fractionally. we are heading towards the 11th straight day of gains. boosting equities. in the last week or so. take a look at the dollar-yen right now. it is dropping to the 12 year low yesterday. up -- the economic minister

is saying that the yen is not getting to certain levels. look at thee a diving here. the company is selling shares below the marketable prices. almost $600 million were raised. we are joined by michelle. michelle: this morning, ever grant day, announced it was selling shares at over five dollars in hong kong. that is a much deeper discount than what the term sheets and said yesterday. we thought ever grundy's stock more than double. it is heading to its biggest decline. follows taking advantage of the chinese real estate market.

they have also sold shares in the past so it is not a surprise that ever grande day is taking the opportunity now to do it. they are placing it below the market range of people familiar with the matter told bloomberg that the company was not able to find another investor to take the shares at the lower end of the market price yesterday. and analyst said that although they are raising 4.6 billion hong kong, this amount would be unlikely to make a significant dent to improve its weak financial situation. moment, its net has nearly tripled its common equity. having 4.6 billion in the pocket is not going to make that much of a difference. as for ever grundy, they tend to -- they intend to work with working capital. yesterday, they also said that

they may be able to sell up to 10% of the financial institution but we have not heard more about that. the inflation headache at the bank of japan -- for the bank of japan refuses to go away. they have a long way to go before they can hitherto percent inflation target. roadest: it is a long ahead for the bank of japan which has already got to push at its target back about six months making achieving that target the middle of next year. it has risen 0.3%. it was better than analysts had expected but if you take away the tech site that we saw last year, and you see inflation just unchanged from a year earlier. has alreadyrnor warned several times of the impact of cheaper oil pushing down on prices.

the impact is big. most economists expect the prices to go into negative territory and exceed inflation. at some point this year. deflationd see a 0.2% before september because of cheap oil which has almost halved since the peak last year. with inflation data not looking promising, 21 of 36 economists boj further the easing policy and boosting monetary stimulus by the end of october. the government and the central bank remain optimistic. they upped their assessment of computer spending. this month. keep in mind, we have those spending numbers of today. household spending coming in at negative territory for the 13th consecutive month. that is what analysts had

expected. -- they had expected it to gain. rishaad: thank you sherry. do tweet me. your thoughts. let's look at some other stories that are making headlines out there. here is rose with the roundup. rose: there is an investigation into the film power group. that announcement came hours after the chairman of the company gave an interview in which he denied that there was such a pro. he dismissed it as purely rumor. have been suspended since may 20 after the stop plunged 47% in just 24 minutes. 20, or had been many questions raised about the company and its business model and its trading practices. they have yet to officially comment on the decline. the day after the stocks

plunged, the company said that all is well and the operations are normal. the hong kong securities association does not usually discussed investigation before a former investigation is launched. ministers and central-bank governors are meeting in germany along with the imf managing director. greece is not officially on the agenda but it has dominated policymakers public comments. the creditors want greece to make stronger commitments. the european economic affairs commission said that we need to work night and day to come to a deal. greece has $1.7 billion in payments due to the imf with the first payment due on june the fifth, a week from today. it is not said how it will make that payment. it looks like this company that

-- that election is set to go ahead today. the football association appears to be shifting allegiances partly because the regional leader insert. the caribbean has about 25 out of the 209 total votes. the election votes on the system of one country, one vote. the only other contender for fee for presidency is from jordan. the confederation and asia say they are backing the president. the organization that oversees football in europe, has suggested boycotting the vote button irish -- but an irish official says european voters plan to redesignate. rishaad: economic growth.

in india. we are heading to mom by later in the show. -- mumbai. management, we get the story. ♪

rishaad: trending business. we are talking about the weak yen. it had the top forecasters divided on how much lower it can go. ubs world manager. at what point do they start looking before they start of -- ringing the alarm? dominic: we already have seen that. if you look at some of the politicians remarks, they say,

hang on a moment, we don't want more week yen trends. there is not much need to really push u.s. dollar-yen higher. maybe 128 -- 130. things are floating right now. if you look at at the boj's inflation target, initially coming out at 2%. then saying this is a long-term trend. there is not a line of the same. it depends on the trading partners and where they are trading. lyrically, there is not much support for material weakness but long -- yonder 124. rishaad: suddenly, it has a big fall and then it goes into range again. is it morettern and about dollar strength than yen weakness? dominic: if you look at the yen

trading versus the euro are the , it is clearly going sideways since may. some of the pattern that you have seen in terms of the yen weakness is because the monetary and focused on the easing side which was a key factor. the monetary policy decision at the end of the day. rishaad: will we get further stimulus in japan are will that qe program be widened as some are predicting? dominic: in october, we might consider some form of additional easing support if it is really going to be an increase in purchase. for the time being, i would look at the numbers and i would say no. from that angle, what they do is he enough. in terms of economic surprises and in the u.s..

we always talk about labor markets in the u.s. -- that is something that is going to continuously feed through. in the long run, you may get that you may not get to percent. that you may not get to percent. --2%. rishaad: fuel prices. this is a nice segue into crude. gold used to have this inverse relationship. dominic: there is not much connection in the long run. in the short run, there are possibilities where euro-dollar oil price.e with the some of the strength recently is clearly helping oil prices to come lowered. as that we'veek

seen recently also relates to the fact that the supply side is not that week -- not as weak as some people thought. some people are speculating that it is already cresting. rishaad: what is going to happen with the crude price? there is an opec meeting and we are expecting that everything will be -- steady as we go. dominic: opec will continue its volume gain. we see strong production from all of the countries. anyone who can increase volume is doing so. saudi arabia, iraq. massive loading. the intention to ship oil is on the rise. from that angle, opec will be a negative factor for oil prices. for overall, in the third quarter, i would look for a sideways move. rishaad: we have seen the commodities come off this year. some of them have come back. what is linked to be a winner this year.

-- what is going to be a winner this year? dominic: we need to see it in a context of the dramatic fall that we have seen. importantly, if you look at what china is doing regarding the latin american producers of iron ore, giving them financial aid and capping production, that should give you confidence that the supply can grow. rishaad: thank you so much, dominic. >> 50 nations are meeting in bangkok today to discuss the growing migrant crisis across southeast asia. you are looking at live pictures of the foreign affairs minister in the thai capital. he is giving his opening remarks i had of that discussion.

live pictures out of the thai capital, bangkok. thousands of people from bangladesh have fled their homes seeking safety elsewhere. thailand, malaysia, and indonesia is the focus of that wave. fear being overwhelmed. states say they will continue to patrol the south china sea despite increasing complaints from beijing. defense secretary says that american forces are operating -- have operated in the area for many years and will continue to do so under international law. fromnly changes are beijing. an investigation is underway after live anthrax spores were sent from the u.s. it was also shipped to government and commercial labs

in the united states. they used a civilian delivery service. no one at the air force base have showed -- has showed signs of exposure. -- they may have to swing the accident. we will find out why. trending business returns in a couple of minutes. ♪

banks in the united states are dealing with consequences about falling trading revenue and that could mean more job cuts. tough times for trading revenue could mean tightening in many big u.s. banks. now planning to cut thousands of jobs as part of its efforts to contain costs and sell businesses. bank by assets. has been consolidating its back-office support. employeesn cutting and it is reducing the ranks of its tellers. the wall street journal citing its own sources reports that the bank may cut more than 5000 workers by next year. on wednesday, the ceo said that

his firm's trading revenue is on pace for last year's second quarter. is talkingrica's ceo about cost cuts ahead of trading does not improve. there are similar concerns over at citigroup. in the latest session, the ceo talked about trading revenue and says first quarter gains have not continued in the second. >> we saw across the industry relatively strong rates in the currencies in the first quarter. in the second quarter, that has not continued with the same conviction through the first two months. -- trading results are more in line with the second quarter of last year. rishaad: let's take a look at

what is trending on social media. rozchin: there could be a lot of money to be made in cardboard. at least that is what google is hoping. google is having its developers conference in san francisco and it has been pushing this product. yearintroduced this last but it is trying to push for the development of this. it turns your phone into a dui contraption for virtual reality. you put your phone inside it. it has been very popular. it is not very expensive. typically, these things go for less than $25. it proves that you do not have to have an expensive piece of equipment to get to virtual

reality. they want developers to create more apps and software for google cardboard. this virtual reality is being targeted by other companies as well as facebook. but ocular for something like $2 billion. google is showing that it is serious about this. wiley topointed john work and focus on google cardboard. it is going into that spear quite seriously. day guy, makeover this. it is almost like your personal home theater. we are seeing a lot of tweets right now from movie legends. he posted this. you can run, but you cannot

hide. a lot of them are poking fun at because it reflects pent-up frustration because of the app. nothing to do with him. i cannot watch everyone. the name of the handle reflects that. once he gets the red card. making -- islso

moving high in the trend. a reference to aladdin. mexicanbe ashamed as a should our football federation vote for the reelection of this president. ozchin: that is a look at what is trending on social media. you can follow david as well. let's take a look at what is coming up. you cannot buy trust. how this billionaire lost her for billion-dollar fund. hurt 4 billion-dollar fund.

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>> his first love was the piano. along the way he invented a way to bring the audience to him. -- to them. it's now a gigantic musical database curated by listeners that aims to predict what you want to hear. you know it as pandora. today, more than 80 million people tune in every month to listen to millions of songs on