greece lurches closer to a next -- closer to an exit from the euro. time has run out for greece to get aid money without an extension. the funding is also under question. and democracy deadlock. for a new waveng of turmoil after lawmakers voted down beijing's proposal for elections. they will be asking what comes next. you can let us know what you think of the top stories by following me on twitter. do not forget to include the hashtag trending business. here is david with a look at the markets. been a good day so far but a bad week.

what is happening? opening up reports, reactions to central banks. the revolving currency. keeping an eye on that. australia seen a nice rally today. every single stock. boj comes out, could come out as early about an hour from now. we'll see how that plays out. though surprise, no change is expected. watch out for the details there. after, he said something about the real estate trade and then said he did not mean it that way. we are up 0.8%. 0.4h out for shanghai,

points for the biggest weekly drop. looking at how volatile the two things can happen. we can enter a technical correction or reversed the losses. something very possible given the volatility. what else are we watching? let's take a look at the u.s. dollar. the so-called death cross. it is basically a technical indicator, when you have a cross averagesertain moving which tends to signal a change in the trend. this is how it looks. the 55 moving day average. the last time these two lines was back in the summer of last year. after that, we saw a dollar in the dollar. in

right now, we are at 94. , something to watch. shanghai composite, a big drop as well. today chart. 46. 67.ushing we might be entering a technical correction, something to watch. i will leave it there for now. back to you. shery: let's head over to europe. ill host a summit. meetings overnight failed to bring the deadlock. stephen: greece is stumbling closer to a possible euro exit. four hours of talks between european finance ministers that failed to get this moving toward the june 30 deadline, where it

greece must make a 1.5 to the imf. payment leaders will convene an emergency summit monday in brussels to try and move this forward. ecb, the central bank, the anerning body will convene emergency call later today on talks. the bank of greece, a request for emergency liquidity assistance. as we get closer to the june 30 deadline. imagine he couldn't greece being forced out, the eurogroup president says, the way it goes now, we are going in that direction. meanwhile, thousands rallied in front of the greek parliament building and athens saying they want to stay in the eurozone. angie? shery: we will take a closer

look at that. please extend your thoughts. ourt forget to include hashtag read for now, let's take a look at some of the other stories we are watching. reporter: we begin with the hedge fund taking on the south korea'n richest family. they agreed wednesday to sell shares valued at more than $600 million with ties to hyundai .ea investoraire activist opposes. on the ground the author is to low. associate has sought an injunction to stop that. the conglomerate is in the

process of a once in a generation leader chip -- leadership change. legend may raise $2 billion in its ipo. pricedkeholder well shares at 43 hong kong dollars, the top and of the market range. strong demand for its offering, eight times oversubscribed. legend is due to set its final price on june 25. we will keep a watch on that. and we are looking at waldorf-astoria hotel. isgot a new owner but it losing u.s. diplomats. after using the landmark for decades, the yuan general assembly is shifting its diplomats to the nearby new york palace. they are not saying why. the hilton group said it was confident there were no national security issues when it sold the

hotel for $2 billion. however, those officials, the diplomats, are on the move. hong kong is basing for new political battles after pro-democracy lawmakers rejected a plan. 28 out of 70 voted against the the chief executive a two thirds majority needed to pass a measure. theporter is live outside legislative building. everybody is wondering, what happens now? that is the big question. a failure to resolve this debate has only worsened tensions between both sides as well as risking big risks when it comes to tensions with beijing.

those on the pro-democratic side saying it is a risk of they have to take to face off with beijing. a chief executive talking to lawmakers. it is time to move on. we need to focus more on issues when it comes to the economy. as well as livelihood issues. things are the way they are when it comes to selecting the chief executive by the 1200 member panel. in terms of real change, here is what our guest had to say. guest: two things that can be done to make the election committee somewhat more palatable. replace corporate votes with individual votes. look at the possibility of extending the franchise. why should agriculture and theeries have 60 seats and financial sector only have 30? these are within the competence of the hong kong government to

do. what we must to see is some leadership, some political will, and i ensure the democratic camp will be only too willing to sit down with the government at the negotiating table. we need to improve negotiation. guest: whichever type of reform, we have to obtain a ruvell. reformail to do that, no will be carried out. what happened is, this is a realistic issue. a leg tour old reform which complies with the basic law and the decision to move forward. a beijing spokesman has said some of the lawmakers who rejected the bill were working with personal interest and they

are going to try to maintain the one country to systems framework in hong kong. going beyond is the democracy, politics. this is about livelihood. some pro-democracy supporters influence, creeping influence, has reached into media and schools. . the surging wealth of the kling in.trickin the city where wages have stagnated. these issues remain. the democratic side saying this is the end of the chapter. the start of another hurdle. shery: thank you for that. yvonne man. and later in the show, forget thet the yen or aussie, yuan is the way to go.

and we speak to a professor who says greece is leaning towards default. more on that when "trending business" returns. ♪

shery: the stories making headlines around the world. u.s. police have arrested a man after a shooting at a historic black church. investigators are cheating -- treating the crime as a hate crime. president obama says it is time for the u.s. to ask questions about racial tensions and access to guns. hope francis has called for an urgent and drastic cut in fossil fuel emissions to pull the earth out of what he called a spiral of self-destruction.

he made the plea 2181 page letter to bishop created dozens economiststs and contributed. he is trying to influence his leaders ahead of the climate change summit later this year. and the head of the world health organization says she is confident that the mra outbreak will be brought under control. buy rated -- not mutated. a man from -- shery: european leaders have been summoned to an emergency meeting after negotiators failed to find a way out of the greek debt crisis. joining us is a professor of the

european studies program at the university of hong kong. another failed meeting, but you are not surprised to read you do not see negotiations going anywhere. signals pointed in the direction of no new breakthroughs expected. what is happening, we are seeing stage. in the political we have entered a new phase where people are positioning themselves for a posted default scenario. you can see that both on the greek and eu side. shifting the blame to each other. moving beyond technical negotiations that are still being puzzled out. shery: what about the emergency summit. you hold no hope? rowland: there is a little hope.

technicalk at the details, the stumbling blocks, they are not very much. they are talking about a figure of 2 billion euros from observers privy to the meeting. the distance is not huge. what is really lacking is the political will. greece all along has been kept afloat i political will. now the government has squandered it. there was a lot of animosity and rancor. that is hindering a breakthrough. final when is the deadline? we have been talking about so many deadlines. it can probably be worked out? payment is the big one coming up. 1.6 billion european dollars. to pay moreupposed this month. they have also indicated they do

not have the money. even if they do not pay, that might not trigger an immediate default. for an imf payment to be considered a default, it has to be reported to the director and that can take up to one month. there is a little bit of leeway still there. this may not be the final deadline. more complicated are the payments in june and july to the european central bank which are much bigger. there is no money for that at all in greece. shery: during the luxembourg meeting, there were greek protesters outside their parliament. where does prime minister singh alexis tsipras go from here? roland: he is in a bind. one must remember, in the january elections, his support base was 30% of the greek

electorate. 70% of the people did not vote for him. they are turning up outside the greek parliament saying the government failed. one also must remember he went into the election promising to keep grease inside the euro. he did not have a mandate to get greece out of the euro. a complicatednce game of dousing domestic unrest at home and meeting the expectations of creditors. shery: one point you make in your notes is the prime minister is finished. nd: the scenario would be, if for some reason, alexis his colleagues agree to all the conditions imposed by creditors, that would mean

political suicide for him at home. it is not quite clear what would come after him. there might he knew elections. there is a problem within his own party. even if we have a deal, it is not a sustainable one. not in financial terms. there is no debt relief. s payments are more than the 7.2 billion euro left over from the emergency fund. shery: what about the ecb? you say they also have egg on their face. d: the ecb is the one institution keeping greece afloat. if they decided not to give emergency liquidity assistance, the banking system would collapse. the problem is, we do not know thebig the liabilities are ecb has pumped into the system. there is talk about a figure of

84 billion euros. i think there are more surprises. shery: officials in greece -- could be. that is a textbook situation to impose capital controls, like an argentinian situation. shery: think you for joining us. next, john doerr discusses the saga surrounding a gender discrimination lawsuit. ♪

shery: welcome back. i am shery ahn. in silicon valley that raised concerns about gender in dallas in the tech industry. four months after ellen pao lost he suit, the partner says was betrayed by her claims. in an interview with emily chang, he says he regrets what everyone had to in doer. -- endure.

john: i'm sorry it has been hard our partners and entrepreneurs. i am also sorry about minorities. i have two daughters. emily: emily is someone you personally brought into the firm. how did you feel when you found out she was suing you? john: i was sick. it was painful. chief of staff. but when i read the charges, i knew from that moment they had no merit. emily: how aware of you were you -- how aware were you of the situation? john: i would rather not get into the test. she did some good rings and i wish her well at reddit. emily: now she is the ceo at reddit read was she senior

partner material? john: it is important to look at the difference between being an investor.nd i think she can be a good ceo, but being a successful partner is different. emily: did you talk to her? what did you say? john: i said hi, alan. how is your family? how are you doing? emily: what did you say? -- what did she say? john: ok. i have always believed this should be resolved outside the courts and it was not possible. emily: she is asking for $2.7 million to walk away. why not just pay her and be done? easy, itit were that would have been done. i will tell you, it is not possible. emily: how hard did you try?

john: the details are not what matters. what matters is we tried really hard and it is not possible at this time. emily: do you feel like if you pay the $2.7 million, it is an admission of guilt? john: i am sorry it happened. it is not a question of guilt. it is a civil case so what is a question of liability. a jury found we are not liable after 5.5 weeks of liability. they: coming up next, why the best trade when "trending business" returns. ♪

emily: it is the iconic venture capital firm. kleiner perkins caufield & byers made its name investing in google, amazon, and genetimn wonderbut many begin to if the glory days for this company are over. ellen haus suit the firm for gender discrimination. joining me today, general partners john doerr and beth se