yvonne: good morning. i am yvonne man. this is "trending business." over the next few hours, singapore and mumbai and los angeles. what we are watching. the euro strengthens i had all the latest crunch talks on greece. athens and saturday have news

proposals. said it would be insane not to strike a deal. china and the u.s. prepare for their annual strategic dialogue with human rights, cyberattacks and territorial disputes on the agenda. her newwift pulls outlook from apple music saying artists are giving a raw deal. she said three months is a long time to go unpaid. let us know what you think all the latest stories by following me on twitter. markets getting under way. singapore and taiwan and malaysia have come online. here is stephen glass. -- stephen -- david ingles. david> it is looking good. we are up for a third day. levels of monday last week. -- the biggest drop in china as most of us know, in the

red. you put at damage together in china and the markets are closed, by the way. damage north of $1 trillion market cap, wiped out. one week. only china could see something light of that in a short span of time. -- also shot of both ways. back to what is happening today. with the exception of australia because a decline with the mining stocks, energy, consumer staples, taking the biggest his. south korea is up 0.8%. -- taking the biggest hits. you look at the charts and put them on top of each other, a perfect 1:1 correlation. taiwan, by the way, these two, s

about 800 million u.s. dollars of net worth outflow last week. some of that money is coming back. look and showke a you what is happening in the bond markets. u.s. treasuries are back up a little bit three or four basis points. out there.sk certainly, not seeing a play out as much. a look at the euro. let me end on this. near-term resistance levels if i can get that. 1.1385, that is a high for this month so far. story, to our top greece, one week to go before the latest data data line and athens is reluctant to compromise and creditors are losing patience. a look ahead to the lowest -- latest crunch talks. any chance of a deal?

zeb: that remains to be seen. call it a noontime show down. 12:30 p.m. when finance ministers convene in brussels. on the agenda is trying to ,trike a deal of the europeans the creditors feel they have given all they have in the greeks feel the same. proposal was submitted and the last two or three hours to the europe meant that european commission over the night and they would take a look and see if the greeks have given ground on issues like pension reform. the tax system. the greeks have been fixated on , losing alexis tsipras confidence among some members of the eu delegation that is willing to compromise at all. , 17showdown in brussels euro area leaders will meet later in the evening, 7:00 p.m. when they come together ahead of this june 30 deadline for greece to avoid a default on imf debt.

this comes down to teach was for the prime minister of greece. he faces keeping his election promises so the national backlash he would face by going against those promises and then default. that is what it comes down to as they try to come to an agreement. greece in a statement saying it's looking for a mutually beneficial agreement and eu diplomat on sunday said the ball is really in greece's court. watch angela merkel's reaction as she enters the meeting. germany is set to prepared a financial analysis of what it means if greek exit the europe -- european union. it could be $1.3 billion a year. yvonne: we want european. give us your thoughts area -- we want your opinion. -- give us your thoughts. china and the u.s. meet for their annual strategic and economic dialogue. in washington

the challenge may be finding topics which they can agree on. taking look. where do they start? stephen: a huge, long list. a u.s. official said it they will start off monday morning in washington, d.c. by tackling the most difficult and most sensitive and most vexing between the countries. a long list. cybers. allegations of attacks, the territorial claims in the south china sea and china's building of an airstrip on reclaimed land. they will talk about tpp, obama's traded deal that excludes china which views tpp to let the u.s. keep writing the world's trade rules. and they will talk about the asian infrastructure investment bank that the u.s. is glued is itself from. a decision many chinese see that america is determined to keep

governancee in limited. terrorism, climate change,iran's etc.,r -- iran's nuclear, it is a long list. the china perspective is more about smoothing got differences ahead of president xi jinping's visit to the u.s. in september. yvonne: it keeps going. here is anne. china isk of investigated for money laundering and italy according to news agency who said prosecutors are seeking indictments. 4.5 billion dollars may have been transferred in leslie from italy to china. no comment from the bank of china. over to softbank and the

director has set a pay record in japan raking in $15 million. who is from research firm said ronald fisher was the highest-paid executive in japan last year. this pay includes stock related compensation and a year and a march including contributions from softbank's units. fisher may have the record for japan but shows the gap with the u.s. where the top 10 earners earn more than 100 million u.s. dollars. led the pack last year. and looking at taylor swift. the story that taylor swift has pulled her latest album from apple's music streaming service. it will, line at the end of june. apple music will be launched june 30 but a close a free trial

it comes with a free trial period. artist would not be paid in those three months. taylor swift said it is not fair for the musicians, the artists, she says she can afford this bush is concerned about the artist -- but she is concerned about the artists who cannot and she wrote an open letter to apple about how upset she is about it. a look at some of the stories we are watching. back to you. later in the show, expect more turbulence in china. my investors should prepare for a bumpy ride in the short term. oil continues to fall as greece's standoff continues. how low will it go? we will ask an ubs wealth manager when "trending business" returns. ♪

yvonne: greece faces more crunch time. creditors are to hold an emergency meeting. government supporters packing the center of athens ahead of to meeting demanding an end austerity. guy johnson was there and since us this report. guy: it is sunday night. rallys a pro-government and they are here to support alexis tsipras, the prime minister, he has just left for brussels. he will meet with jean-claude juncker, mario draghi, a christine lagarde. of the moneyot that agrees means to pay its debts. critically to keep these banks open. they expected these shutters to open tomorrow morning, monday morning. the big question is will they open on tuesday? anis probably as good

indication of how the situation with greece is developing. europe normally finds a way to do a deal. will they this time? guy johnson. yvonne: a quick check of commodities as the greek standoff continues. gold futures down about 0.2%. last week seemed to shake a gold out of its doldrums with a holdings. the longest stretch in seven weeks. futures -- silver futures down. do as crude oil futures down, down about 0.3%. , down today. up from 36% since march. iron or prices have rebounded and our next guest that the recent rally may not last. joining us is wayne gordon, executive director for ubs wealth management. thank you for joining us. picture, mixedd

signals of the oil rally and kind of faltering what is going on? i do not think they'll fall in oil prices should be that big of a surprise to most people. supply side is the which is outweighing the demand side. of some ofroll off the that we expected from the lower prices. we have an oversupply situation in oil. side, activity pushing into the oil market fairly strongly. i think once people realize that yes, supply is slowing, certainly the demand is quite soft. roll off peak demand cycle and it will become fairly clear, we can expect lower prices. yvonne: sure. the june 30 deadline for iran's

nuclear deal as acca possibly increase some of the export numbers for opec as well. concern over opec overproduction, where can is sent prices? well, we certainly have plenty of supply coming from the markets. the run is one example of work -- iran is one example. inhing out a big production the other member states is a source of increased supply. we seeing you could see prices and down to as low as $50 a barrel again potentially. but the supply side in the u.s., will seen as significant cut and the number of rigs drilling in the first half of the year. the higher prices incentivizing some of the producers to come back into the markets hedging doubt out higher prices into next year. we could see the early signs of a production rebound as well which add further to the

situation. yvonne: a lot of us are focused growth reallyw impacting commodity prices as well. sigil was for chinese steel makers. driving up costs and squeezing market. steel prices falling. , want to quote -- though bread pmi numbers, what you expect from the manufacturing sector? think theon: i manufacturing sector will find stabilization in a few months. we may have seen potentially is the china data, we are certainly not alone in golf for significance of prices to the upside. it is sort of a markup where you expect to see the data not improving significantly but certainly not getting too much worst either. that situation along the bottom

on the iron 1/4, ore side, stocks squeezed up quite a bit in the first half of the year. it had to do with the weather issues from the major ion ore exporters and with expect those things will start to fix themselves and expect to see new production, to the market from bhp and rio tinto. overall, you would expect the iron ore market to slip back into oversupply that we got accustomed to at the back end of last year. prices simply roll over from here and we think the prices start to head back down to $50 by the time we got to the end of the year. yvonne: i see. you talked about the weather situation. we talked about el niño affecting some of our farmers especially in india.

there are reports saying to do not look for disasters. better than expected monsoon rain starting off the season quite well. what you think will happen for july? niño isrdon: well, el an interesting phenomenon. while technically do could say that trends are shifting to severe situation, overall, it is all about timing for rainfall. that's the reality. inis all about what happens the southern hemisphere spring and the northern hemisphere's autumn with regard to rainfall. monsoonoment, india's is about average. the projection for the whole year is below average. it is about the timing of the rainfall. similaro leasee results to what week -- if we continually is the result like of the elen, a lot

niño euphoria where people have been buying things sensitive to severe el niño will start to unwind. but, reality is we do not know until we get to that autumn in southern hemisphere spring rainfall period to see how it could impact production. at the moment, we stand on the sidelines and thing people who moved now moved to early as some of the trades will start to roll over. we still stand on the sidelines because of the forecasters telling us it will be a strong, severe event. yvonne: appreciate your insights. quite volatile season we have seen. thank you. wayne gordon, joining us from ubs. south korea has reported on more deaths from mers. health officials said there are signs it may be easing. the two latest death take the

number of victims to 27. than 1100ffected more people and killed 400 worldwide. the president of korean airlines said the impact could be greater than that of sars. that number of people killed by jointing tainted alcohol in india has grown it to 94. 40 more are in critical condition. police say is the worst such incident in more than a decade. health officials say it was it liquor is often spiked with chemicals to increase its potency. national carrier was forced to cancel a number of flights after a hack attack. a spokesman said intrusion temporarily paralyzed the computer system at the warsaw's airport on sunday. domestic and international flights were interrupted along

with 1500 passengers. the problem was eventually solved and an investigation is underway. then numbnext -- overhaul business regulation in a bid to attract more investors. what changes to expect when "trending business" returns. ♪

yvonne: vietnam is easing business regulations. hanoi hoping it would attract more investment from a box -- a broad and a home. let's bring in a haslinda. a pretty bold move here. bold and ambitious. expect the easing to happen from july and foreign investors will be able to invest and operate in more areas including genetically modified goods and the production of fireworks. it will ban only six business areas. it was 51 before. then numb settable loosen regulations in more than 100 other areas. like you pointed out, the biggest easing of regulations since 1990. an overhaul of the rules and the economy and it has to be done. vietnam is facing competition

of asia.est only $4 billion in committed fdi in the first five months of the year less than 20% of what the government is really targeting. compare that to indonesia. fdi up 14% in the first quarter. essentially, then numb'data vietnam's muted avenue -- vietnam's muted fdi is in jeopardy. hopefully it would trigger a wave both from local and foreign investors. if a debate certainly a lot at stake. how about the stakes for foreign companies? -- yvonne: certainly a lot at stake. haslinda: that is part of the plan. the government will sell stakes larger chunks. for investors will have more opportunity to invest these companies this year.

the target is ambitious and wants to sell shares and 289 state companies by year end. it has been a challenge so far. if want to be accelerated if it wants to meet the target. there's the little interest in the sales. the national airline sold 5% of its shares in november. no interest from any foreign institution and it is still pending a listing. investors are apprehensive. private shareholders hold such a small stake, too small of two influence rubber governments. things are about to change. even a bank we will see up -- in yvonne: we will see how things go. no trading and china today. markets in hong kong underway. we will have the opening numbers. ♪

yvonne: top stories trending. with thelding talks, head of the bank saying it was insane not to meet a deal. they are in brussels with the client ticking for a june 30 for a payment to the imf. they say to have a new proposal to offer. four months of talks have proved fruitless. quits while onve

vacation and has not been heard from since in china. shares fell 19% friday after the resignation letter was reported to the stock exchange. after china'smes campaign against corruption. taylor swift has pulled her from apple'salbum music. she is unhappy that they will not pay artists for a trial. she says three months is a long time to go unpaid. she pulled her music from spotify for the same reason. here's david with what is going on in the markets this morning. opening in hong kong. david: it is dragon boat day. what do we have now.

up 7/10 at one. it is basically a fairly good day for a third session, coming off of a weekly draw. said, there is some debate if we do have a special start of economic data. the numbers are due tomorrow. three names that we are following. feel. the big chinese gold-mining stocks. making an offer for phoenix gold. phoenix says at this point in current form it cannot recommend.

chosun international taking a controlling stake. phoenix holding is the fourth-largest. $461 million. $489 million about to control stakes. the company says, expending -- expecting drops when it comes to first half profits. it makes things like construction equipment. yvonne: thank you. while the world is watching shares, and china and -- aircraft plunged friday.

and a quarter percent up right now as the ceo resigns unexpectedly while on holiday, and now no one can contact him. we are joined to live from seoul. what is behind the investor concern here? the concern is there have been reports in hong kong and china about the possibility by theg investigated chinese government in relation to one of their customers which is china southern. letter of he sent a recognition. resignation. the company has not been able to contact him. conducted their own investigation of all of the deals they have done.

one of the professors in beijing told us that, in any case, it's a senior official goes when -- missing, whether there have been any allegations, the public's reaction would be that there is something wrong. we have talked about this corruption campaign. no one can be exempt from scrutiny in today's china. can you talk about other cases of ceos going missing in china? this is not the only case. reporter: it's not. surprisingly. there is another security company where the chairman had gone missing after sick leave. notink until now he has been contacted. earlier this month, one of their supervisors has also gone missing. the company says they cannot make any contact with that supervisor.

it happens quite often in china these days. i think that might be related to the anticorruption campaign that is going on in china. seeing shares bounced back up a little bit, but the 19% plunge was the biggest drop we have seen for the company. any responses from china aircraft shareholders on this recent development? china -- china aircraft had said and the statement last week that two main shareholders basically are concerned they are not reducing their shares in china aircraft, and will continue to sit -- provide support. we reached out to these investors. they were concerned with what china aircraft had told us. it seems they still have full support right now. thank you for that.

let's return to the top story. greece is increasingly narrow window to strike a debt deal with european creditors. the asia-pacific market angle and the latest out of brussels. : these headlines just came in. athens submitted a new set of proposals, targets that it is theyg to compromise with are hands. not a lot of compromise happening. if a lot of frustration among creditors that greece is not stepping up to the plate. we have seen numerous officials commenting on twitter and tv in their own countries, it is a case of the ball being in greec e's court. at 12: 30 p.m. local time, finance ministers will meet to work out technical details. then at 7:00 the leaders meet. alexis tsipras squares off

against creditors. in the meantime, during the day the ecb will hold an emergency conference call on the key issue of the bank liquidity to the banking system. greate seen a drawdown in deposits. we are not calling it a bank run at this stage, but that is the fear and something they don't want. a critical day. is one week remaining before greece defaults. it is critical. yvonne: it is crunch time. let's look at the potential effect it could have on asian markets. what is the outlook like? zeb: it could be problematic for a few days, but certainly not dire. injured --we have interviewed say the impact would be muted. they say this is a european issue. would be a knee-jerk reaction but the ecb would come in and organize things so it

would not be a disorderly fallout. you have an impact on the yield premium that asian investors demand for asian corporate bonds. the overall element we need to remember here, since the 2008 crisis, there are 6 -- there aretly things in place. the system could handle the hit. that is what we are hearing. asia would be a minor issue. yvonne: let's hope for that. thank you for that. we get more on that story, download bloomberg class to your mobile or tablet. we are checking out other stories. the world's largest asset manager says the aussie dollar is likely to fall below $.70

next year. the rba may be forced into cutting interest rates by half a percentage point due to a week capitalspending -- weak spending. it remains higher than what the same -- central-bank wants to be able to support wealth. time in for the first the quarter of a century, as the bull market drives up costs. the iron and steel association expect crude steel output to fall as much as 2%. being hit by rising cost and a collapse in steel prices. it -- it's first one of 1000 pepper robust sold out in just one minute. they started selling the robot on saturday 46 hundred dollars. softbank says it is not taking any more orders for now.

they say pepper is capable of responding to a motions with humanlike body language. to the next story, hong kong's exchange is moving closer to you loosening shareholder voting rules to stem the flow of listing in new york. bloombergned by reporter. it is all about shareholders, they would like to control business and would like to make business decisions. that is why they want to have more rights within the company. eightlly emerging from one share one rule. there was a lot of discussion, but finally they decided on new york for voting rights. yvonne: we talk about how this

is a huge setback them. a huge loss for them on that front, losing alibaba. with these changes, with a be able to protect investor rights if they depart from this one share one vote? reporter: that is the big question. regulators will be making the final decision of the rules. chinese companies account of 60% of market stake. the exchange in hong kong started to lose business through exchanges in new york. companies as of last year. about a third of them had this deal share. apart -- important to attract these deals. they are proposing to discuss an idea that some of these new companies can come and do secondary leasing.

that is one the regulators are serious about. next?: what happens reporter: what they presented was a conflict. third or fourth quarter, they will have official computations. the results will be in the next year or first half of next year. we will watch out for that. thank you for joining us. muck --p next, chinese markets up 30% this year. but there are warnings, the bull run is about to end. more on that when "trending business," returns. ♪

yvonne: stories making headlines around the world. the immanuel church in charleston, s.c., people are back since a gunman killed and nine members last week. church lady -- leaders are offering messages of forgiveness and think the community for support. the governor has called for the death penalty for the gunman. inspections of military science and demand listing of international sanctions on a proposed nuclear deal in around. the decision may complicate agreements with the self-imposed deadline at the end of the month. washington says it will not fullve any deal without access to the nuclear program. congress has the power to review any agreement. a german judge may may decide whether and how dizzy or a journalist will be extradited to egypt. protesters are demanding his

release. he denies charges of torture. accused the network of supporting the muslim brotherhood. markets in china are set down for a holiday. but the shanghai composite index tumbled 15% last week, it's works -- worst since 2008. the next guest says supply and demand are out of balance. keep executive of partners capital international. thank you for joining us. what a week it was. achnically this is correction, but people say this is a healthy one. we are calling a black friday after what happened last week. is this the end of the rally? has -- thell know

bubble has been for a while. if the market turns sour, they will away basically. , we haveat the markets yet to see whether a rally will be forthcoming. we need to observe the markets closely. yvonne: you think there could be a rebound? but thehere could be, rebound will not be sustainable. we have kind of seen before in 2008, how easily investors can just evaporate this market. can we be seeing that again? is it just that markets are way too big for even beijing to mind are -- to monitor? the markets are

something the central government we areo have, but heavily relying on modern p.nancing to back up t it a collapse is unavoidable. yvonne: and we talk about the choice they have, to have correction now or continue leverage and make a bigger problem in the long run. a pretty big call to make. when you talk about marge allowed -- marginal, the debt pile is 358 billion, is that there needs to be more regulation putting a ceiling on how things look? guest: i think we need to put a

basically financing, and also more ipos will be coming up. [indiscernible] yvonne: there have been a lot of rumors over the last couple of beks that they were going to doing something, but we have not seen that yet. is this going to start that even ?ore > is it going to be enough? i don't think it's likely it will lower interest rates, because it you need to stabilize the economy. ,e look at the figures

basically we need more liquidity. we should expect more tightening policy trying to control the stock market in these banks. yvonne: is the reputation on the line here? they've put a lot of credit on themselves for fueling the rally. they can't be seen as crashing. what is at stake for beijing? they are supporting the seems to try to control the market if the market has gone too far. we should expect more now,ctions, maybe not maybe later on next year or even in the fourth quarter. guest: a little --

yvonne: a little late in the game there. but thank you for joining us. -- whyup next, out o taylor swift says apple is being unfair to musicians. ♪

yvonne: time for a look at what is trending on social media. korea making waves. zeb. ahn: i'm joined with the economicng financial impact. of mers. come at auld not have worse time for korea. last year the ferry disaster claiming 300 lives.

and her government has to respond. one year later, we had the mers virus. clearly not as many people have died, but the death number has been rising. the government says the cases plateauing at the moment but the online reaction has been severe. if you look at google searches, mers has been elevated to worst, .orse than the seawall cannot seem to catch a break. the government is criticized for a slow response. this person writing, a parallel the twopc mall -- disasters.

reporter: those google searches are a good gauge of how people are reacting. i'm looking at taylor swift. she has written a swift and sharp vote to apple by a apple, saying that should launch a subscription service but she will not be allowing them to use her latest album. what apple is doing to launch this is their making a free monthseriod, for three you don't have to pay. she is saying this is unfair. ,eople are saying, you go girl etc. i just want to get onto the next twitter graphic. articlel independent saying, thank you taylor swift for thinking about us young upcoming producers. zeb: she is a megastar though.

reporter: she can afford it and the others can't. the threat of up, cyber attacks on the agenda. the annual strategic debate. stay with us here on "trending business." ♪

yvonne: it is monday the 22nd of june. this is "trending business." first here is what we are watching. jumps off, china aircraft in hong kong after the shocking resignation of the chief executive. he quit on vacation. and has not been heard from since. the euro strengthens ahead of the latest crunch talks on greece. athens says it has new proposal

as the biggest bank warns it will be better not to strike a deal. taylor swift pulled her new outlook from apple music saying artists are given a role do you -- rod deal. she says three months is a long time to go unpaid. follow us on twitter. include #trending business. story isn the top greece. one week to go before the latest deadline. athens remains reluctant to compromise, and creditors are losing patience. as we look ahead to the latest talks, any chance of a deal? eb: a glimmer of hope. comments from the european commission, saying the latest proposal submitted by the greeks provides a good basis for monday's talk. that is encouraging news, given the fact that both sides,

creditors and the greeks, has not been able to come together and find a compromise. european officials are quick to point out it is the fault of the they have not been able to sufficiently compromise on issues like pension reform -- as well as taxes. alexis tsipras is said to be testing the patience of angela merkel, who has ordered a review of what it would cost if greece defaults. thateek from now is when happens. june 30 is the deadline if they cannot come to an agreement. the initial assessment is it would cost germany $1.1 billion per year, and the initial assessment says that is manageable. it could alter negotiating stances. the meeting begins at 12:30 local time in brussels. we have the ecb holding an emergency conference call, they tol discuss additional lines

the greek banks to prop up the banking system. we have had a significant drawdown of deposits by investors there. not a bank run at this stage but something they want to avoid. 7:00 p.m., this culminates with the leaders meeting. alexis tsipras facing off in a showdown in brussels. autumn line, his choice is keeping his election promises to the greek people, the anti-austerity promises, or default. we will see which path he chooses. we will take a more detailed look at that story later on in the show. we want your opinion. #trending business. let's go to david with a check of markets. you are looking at the china aircraft after the ceo left on vacation. on vacation and then tell your company i'm not coming back?

a littlef coming up bit. but keep in mind, 19% plunge on friday. we are nowhere near levels of thursday. we will give you details of what happened and how we take this forward in the next hour or so. that being said, let me point out what is happening across the asia-pacific at this point. one market just getting underway, that is jakarta. flat there. the philippines, australia and new zealand. energy, consumer staples leading a client hit. japan was doing well. care, flat atlth this point. nothing much to trade on. a very quiet as far as ego data is concerned. tomorrow is the big one.

third day of gains across the region, korea for a fourth straight session as the one strengthens there. -- the korean won strengthens. markets, 113.75. up again for the common currency. at a one-month high for the euro, despite all of the uncertainty with greece. ecb stepping in, they raise the ela tag on friday, with discussions they may raise it further and ask. still looking at about 64 u.s. cents, seems to be the next. back to you. we will look at some

other stories we are watching today. ann: we begin with the bank of china and italy. it is being investigated for money laundering. prosecutors in florence are seeking indictments against milan branch. more than four and a half million dollars were moved illegally from italy to china. the bank is suspected of not seeing -- signaling suspicious transfers to authorities. the bank of china denied any wrongdoing. we will keep a watch on any follow-up. now we move to softbank. a director has set a pay record in japan, raking in a cool $15 million. highest-paid executive in japan last year, earning more than the founder, who made about

$1 million. that pay package includes stock and compensation, and contribution from softbank unions. the 67-year-old might have the record, but it still shows the gap with the u.s., where the top 10 earners average more than 100 million u.s. dollars. packlas whitman leads the with more than $280 million last year. two taylor swift now. the online world is all about. she has pulled her latest out of them -- out of out of apple music. to getey will do to try more people to subscribe is to make it free. there is a pretrial for three months. unfortunately, that comes at the expense of the musicians, as

taylor swift says. the artist will not get paid for that. while she can afford it, it is not there for those musicians and artists who can't afford it. she is pulling her successful album that had record sales in 2014. she is saying apple music cannot work -- use it until they work something out. she made a statement on tumblr, taylor."to apple, love she is withholding her music. she has done those in the past, she did that with spotify last year. apple remains one of the largest retailers of music through itunes, but they do feel they are pulling behind through the streaming upstarts who are taking the share. spotify has 60 million subscribers, and to music is the

most popular genre on youtube. ofnne: there's no shortage issues on the agenda as china and the u.s. meat for the annual strategic and economic dialogue this week in washington. it may be finding topics on which they could agree on which will be a challenge. stephen engle is late -- taking a look. state department officials say the u.s. and china will start first thing monday morning in washington dc by tackling the most difficult, the most sensitive and most vexing issues between the two countries. that means the u.s. allegations of government workers of information, territorial claims in the south china sea and china's building of an airstrip on reclaimed land. it means talking about the tpp, the trade deal that excludes china, which uses tpp as an effort to keep writing the world trade rules. aiibthe china led a iid --

that the u.s. excluded itself from. they say this is evidence america is determined to keep china's role in the global governance limited. lots of talk is going to be on the agenda, the seventh sneb, purpose ishinese more about smoothing out difficulties. coming up later, we will be live in l.a. for more on taylor swift, taking a bite out of apple music. after this short break, asia makes up half of a global top 10 countries at risk of a cyber attack. we will see what has security firms worried. stay with us. ♪

yvonne: making headlines around the world. south korea has recorded more debt from ours. from mers, although health officials say it may be on a plateau. three more people added to the list. it has affected more than 1100 and killed 400 worldwide. the president of korean airlines says the impact could be better than that of sars more than 10 years ago. the leaders of japan and south korea will attend ceremonies in their capitals marking 50 years of bilateral diplomatic ties. the meeting between foreign ministers in tokyo, the first talks since 2011. they have been having a strained relationship over disputed islands. this may pave the way for the first face-to-face meeting between the current trees --

current leaders. poland's national carrier was forced to cancel flights after a hack attack. the intrusion temporarily paralyzed the airline computer system at warsaw's airport. domestic and international flights were disrupted, delaying nearly 1500 passengers here it the problem was eventually solved. the investigation is underway. the tech security landscape has never been more complex. hacking, cloud and mobile computing, and concerns about privacy are creating new opportunities for security software makers. executive,st is a joining us live from singapore. thank you for joining us. really about my busy just remaining in the headlines. especially if you are in the asia region. we have talked about the recent attacks in the japan pension

system and the u.s. federal personnel database that was hacked. and of course, the sony cyber elite last year. how big of a problem is this in asia right now? guest: thank you for inviting me. i think it is a bigger problem globally, i don't think it is just asia. i think this is a global epidemic of security issues. if you think about the fact that i've out of six large companies last year got attacked in some shape or form, that is a 40% increase. 300% plus increase in rent , andhere -- ransomware then you see with the polish airline issues about people hacking into computers. we have seen people hacking into airplanes over the last few weeks. we have seen obviously, connected car issues. anything connected to the internet. the internet of things and smartphone devices proliferate a whole range of security issues.

is that why we see such a huge surge in these attacks? we are talking about government systems that should be highly secured. it is because we see a huge shift in technology that we are not seeing the protective measures yet? guest: i think security is actually more of an awareness issue. we are out every day talking about the awareness of security and the cost of not investing in security. i think there is a whole awareness issue around the globe, whether it is customers or government. we see one million new people -- pieces of malware every single day. when you take into that fact, at looked at 4 trillion lines of information in any day. we process that 200,000 times per second. security analytics is becoming a big piece of the puzzle.

when you decipher how much data they have, the threat they see every day, it is harder or the companies to decipher the threat landscape because they're so many on a daily basis. are a lotm sure there of security providers trying to benefit and take advantage of the demand for technology to while these attacks -- foiled these attacks. symantec, some say are lagging behind peers. norton brand is the hardest hit. how have you been able to overcome some of these obstacles for your company as well as developing more towards the global and internet of things? guest: we are the largest security company on the planet today. we have more global intelligence networks than anybody on the fivet, there are governments that have more information than us. we are very much focused on separation of information management business and storage. and what we are doing on

symantec security. we are focused on driving focus, and we're back to sort of a pure security play. we are investing in r&d and the growth this year. we certainly believe with what we have out there today, we know there is a lot of other younger companies that are going to be good at marketing. in one second what all of those companies do in one week. it is about getting real-time information to customers so they can make informed decisions quickly. we are starting to see the likes of rivals. the revenue for data storage when you see the consumer business, is data going to be the way that drives growth moving forward? guest: data is key.

storage demand is being spent. you will always see a huge demand for data storage. back to the consumer business that no end, -- norton, we feel very good about the strategy there with norton on the consumer side. but we complement that on the amp -- enterprise. acquired veritas, security with hot 10 years ago. it is now off the charts. we feel the technologies we and we have an end to end situation as far security is concerned. we got we are in a very good position to grow this year. we are in a good position. yvonne: just one question. -- youortunities in asia

mentioned this is a global issue. thread,tries with the that threat, four are in that region. pilot -- taiwan, china and vietnam. where are the most opportunities? guest: asia is a growing market. i'm doing a trip this week because we see such massive growth. gdp is high here. we are in for sting -- investing more with people here. we are putting in response centers because of demand, particularly in asia. ross, it is not just one country. we have about 5000 in asia that we will continue to it expand on that to get the growth we need in this important region. yvonne: a very important issue, as cyber security issues come through headlines every day. thank you for joining us today

this warning on "trending business." searching for a solution. the online reaction in korea, as more people die from mers. all of the latest one "trending business," returns. ♪

yvonne: snake oil or liquid gold? minute to honey has a reputation ka honey has a reputation

for being great. is the latest product attracting the attention of counterfeiters wanting a quick buck. the rich color he trades its value. its reputation as a bacteria $50ing superfood, more than per kilogram. that has helped propel the number one producer to record earnings and record stock prices. >> it has become truly like a gold. is product per kilogram, over conventional honey. reporter: claims about the health giving properties have skeptics but there are also studies supporting the credentials. starting with the -- endorsements have helped boost the image, from when it held true -- from celebrities to athletes.

to $100 perch up pot. where there is money to be made, there are also counterfeiters. or 1700 tons, 1700 honey are produced in new zealand. it is in the range from about 10,000 tons in the global range. honeyimately 83% of available for purchase around the world is actually not real manuka. reporter: the value is found in local trees unique to new zealand and some parts of australia. , and is a real threat issue for us all. the credibility of what we have created in the value opposition to export and sell overseas. it is going to be challenged and friend when you have counterfeiters. reporter: the unique manuka

honey association is enforcing standards and working on stricter rules to ensure the gold keeps flowing. paul allen, bloomberg. yvonne: that's quebec to a look at what is trending on social media. go straight to messages coming out about korea and mers. korea has had to tough years. the mers virus right now, causing a lot of concern among the public. and the number of travelers to south korea has dropped off. the google searches have showed, it is worse than the publicity sankst year when the ship and 300 people died. it caused the less death, but mers may be this year's seawall. the government has been assessed for the handling of this.

-- criticized for the handling of this. ann: i'm also looking at a bit of a pr nightwear for -- nightmare for apple. taylor swift has said, you cannot use my record "1989" useuse apple is going to the first few months to not pay musicians. swift are thinking taylor for her statement. china: up next, the aircraft ceo goes on vacation and never comes back, one "trending business," returns. ♪

>> june 30 deadline to make more payments. convincing traders he is ready to compromise to avoid default. shares on the rise in hong kong bouncing back over a 19% move on friday. telling investors the chief

executive had quit while on vacation and had not been heard from since. this comes amid the winding campaign against corruption. taylor swift pulling her album from apple itunes streaming service over compensation. to applen open letter on her blog that three months is a long time to not get paid. problems off of spotify for the same reason last year. let's take a look at the markets. >> as we get started let's take a look at korea first. it is now up to 172 and the

finance minister of the country speaking in front of parliament a few minutes ago. significant impact on the economy and they are basically considering extra budget to offset the impact. the have broken off perhaps glass is half-full. that's outside of the narrative there. despite thep today watch out for a big drop in earnings for the first half of the year. is bigger than we saw 10 years ago. up 3% for that stock on the day. they're basically getting a huge ment and it has

14,000 square foot equivalent ships and they are up 3% and more to come on this. a good day, as you mentioned. >> thanks, david. let's get to the top story this morning. the narrow window to strike a deal with european creditors. zeb eckert joins us with the asian pacific market angle in the latest out of brussels. we are hearing there's a good basis for a possible deal here. zeb: that's the very latest that we have from the top paid to the european commission resident jean-claude juncker. this latest proposal submitted a is thers ago by greece basis for the talks that will begin on noontime today. been a lot of compromise coming out of the

greek side and there is some difference of opinion from both sides on what actually matters. the prime minister of greece, alexis tsipras has been focused on debt. system reform, tax increase, bigger system issues that would overhaul the system completely. it's one week before the greek default. it's something that some of the markets are warming up to and some are expecting. angela merkel of germany has been very calm and collect did in your opinions and comments on the situation but there's a lot of charter -- chatter she's getting impatient and germany and others are quietly preparing for an exit if it comes to that. >> bracing for the worst. let's see this potential impact to and what we could possibly see here in asia. is the outlook dyer? zeb: -- outlook dire? but we'veecessarily

been talking to some of the biggest investors, like black rock. they say it's largely a european issue. they said there were be several days of dislocation in the market but the ecb would act quickly to stem that. the marketsrget have matured a lot since the crisis. with a wave of regulation around the world that has to radically reduced risk in the banking system, you have international swap lines improved, boosted, expanded. the liquiditye of market concerned out. overall, people are better prepared to deal with this. we've had this for so long, it seems to be baked in. we will see what happens as always.

within four point $5 million has been transferred illicitly from italy to china. squeezing profits. the chinese iron and steel organization expects crude steel output to follow as much as 2% this year. they started selling the robot in japan on saturday for $1600. pepper is capable of responding

to emotions with human body language. china aircraft gaining again after plunging on friday. shares fell genetically after the ceo resigned while on holiday and disappeared off the radar. bloomberg news aviation reporter joins us now. soon you, let's all of this about? china announced that their ceo had sent in a letter of resignation and could not be reached. he might be under investigation by the chinese government in relation to a transaction with china southern. date, he cannot be contacted. he is considered missing.

overall, like the professor was saying, despite no allegations senior official disappears, people tend to think the worst. definitely very fishy what's going on, but talk about some other ceos that have gone missing in china. this is not the first case here, right? ghee: that's right. takenairman had actually sick leave. wasthen the same company also missing earlier this month. chase --ot an isolated an isolated issue for chinese aircraft area to tapping with a lot of chinese companies. >> have you heard of any aircraft?rom china

have they said anything about this development. >> they have said they will not reduce their shareholdings. everbright china which concern -- confirmed what china aircraft told us. it seems like the shareholders are staying put for now. yvonne: any news on the ceo, park joining us live from seoul on that. earning more than $100 million in its second weekend to lead the north american box office. than $800 raised more million around the world. pixar's "inside out" was the second-highest earner taking more than $90 million in its

debut. it's its first release since 2013 and setting a new high for an original pixar film. how about this for a movie statistic? the top pursing films in the 2007-2013, less than 2% were directed by women. bloomberg has spoken to a number of female directors about this situation they say exists in hollywood. i was told when i started that a could not be a director because i was a woman. i've been directing now for many years, but certainly not as frequently as i would have had i been a man. >> i was going into meetings and projects with people with future directors who worked with academy award nominated actor so i should have been taken seriously in these meetings, but i wasn't. it was always the sense of, "can

you really do this?" a man could do it better. would never have gotten this big of a distribution deal. people telling us that we could not direct action movies. taking a lifetime of boxing and fight classes, you cannot look at a man and say he probably does not know how to cook. you cannot look at a woman and say she probably knows nothing about sports. we are not raised in the 19th century. >> not every man director or woman directors capable of directing every movie. we'll have a specific skill set to bring to the job but it is gender-neutral. >> ask any man with a wonderful career what would happen if someone told you you could not do that as you have the wrong genitals. i mean -- it's just absurd. yvonne: you can watch more of

those interviews and a special show later called "celluloid ceiling." it will show at 12:30 p.m. today sydney. p.m. in much later to come on bloomberg. you're watching "trending business." ♪

held at theices emmanuel church in charleston, for the first time since a white gunman killed nine members of the congregation last week. local community for their support calling for the death penalty for 21-year-old gunman dylan roof. inspections of military sites and listing of international sanctions on a proposed nuclear deal. this make on the cake talks on

the agreement with the self proposed deadline. washington said they will not approve any deal without full access to iranian nuclear programs. congress has the power to review any agreement and may block it. a german judge may decide journalist should be extradited to egypt. his arrest in a berlin on an ejection warrant has sparked protests. a cairo court convicted him on charges of torture which he denies. we've been talking about this all morning but now more on this story on social media today, taylor swift snubbing apple music because artists will not be compensated during a three-month trial. the news director of billboard and a music director of the hollywood reporter joins us via

webcam from los angeles. thanks for joining us this morning. this must be huge. taylor swift is one of the most powerful names in the industry. how big is it that she has written this letter on her blog? >> she's one of the few artists with the leverage to be able to do it, honestly. to have that big of a megaphone and a lot of artists are really applauding her efforts today. yvonne: a lot of the independent artists they really have not been able to benefit with this forbeing able to get paid the three-month trial. how has the rest of the industry reacted to this? been kind ofas split for the apple music launch ever since it was basically announced. there is a segment of the

industry who has a "wait and see" attitude. they've put a lot of faith and apple. they will be investing more money and music this year since the ipod. for an industry struggling, no down the help. on the other side, the independent labels are the ones who live month-to-month. for them to not get paid for anything for three months worth devastatinguld have effects on them for those smaller companies. you know, yes, taylor swift is part of the major label machine but she seems to be taking one on the chin for the rest of the music community. timee: it's not the first she's done this. she pulled her album off spotify just a few months ago as well. even the spot if talking about launchingrgence and

streaming service and they were shrugging it off. really damage can apple bring to the competitiveness of the streaming industry? has inbig thing apple its back pocket is 800 million credit cards. what apple executives have told me behind closed doors is they expect from this free trial as many as 50% of those people to sign up for the subscription service. spotify boasts 26% which is also very impressive. just out the gate apple is looking to do twice of spotify. on the other hand, spotify has a huge, huge head start. they have planted their seeds in america and internationally. they have a lot of momentum going at this moment. this does not happen very often, but they have some catching up to do. yvonne: this does sparked the conversation about how we do

need to season changes in the industry as well. a lot of these companies are trying to shift all the streaming of. do you see more artists will be joining in a long taylor swift to just boycott these services altogether? think toow, i don't many artists can really have that decision power. taylor swift, like you say, she's one of the biggest artists in the world. she can pull her album from a butlog or streaming service most smaller bands on smaller labels depend on those companies to get them on the streaming services. payingy, if anyone's attention they would know 2026 it willand be the biggest decade of growth for streaming music. any band, artist, singer not on

that train is in danger of missing out. happens whene what the launch comes out june 30. shirley halperin, thanks for viaing us from billboard webcam. more on that story anytime anywhere, download bloomberg plus. android, available on apple, and windows. more to come on bloomberg tv. you are watching "trending business." stay with us. ♪

becoming a multibillion dollar industry and the skilled leaders are in high demand. schoolduates of one such or making their mark in hollywood and around the world. i've been an and him and run

dreamworks for 20 years. -- been an animator. when they convince the french man to trade his tiny terrace department for a job and e-house in l.a. project was prince of egypt. i remember thinking of the character as a human being, a real person and injuring it. seeing my first shot on the big screen. was not thate interested in the american dream. he was a graduate from one of the top animation schools in the world in paris. >> it was the first school

there. for a long time it was the only school that had a really high level of artistry and technique. of the guys graduating from that school are among the best in the world. >> only a handful of applicants are chosen each year. there rushing to finish their movies for the festival where big studios, headhunters from pixar, disney, dreamworks will be clamoring to hire them. >> hugo is not too worried either. he tried to apply three times before being admitted to gobelin

s. group coming out of this and going into the industry. withey will be competing students from the u.s. success of animation such as disney's "frozen," a highest grossing animation movie of all time has increased the need for talent. london, shanghai, australia, south america, so it helps a lot. manyst like kristof, of the young creative's are likely to travel from paris to hollywood. bloomberg paris. yvonne: we believe it here with ann with what's trending today. >> google services are really

good way of seeing what people are thinking about and searching. south korea has reported its search how they are looking at economists. what they are saying about the economy. internet search pointing to its a in the economy. rushing to the web for information about the mers outbreak. the fairy overturned -- consumerrturned spending slumped as the country went into mourning. comparing sewol to mers. it is unfortunate and i would

not like to be in the president's shoes. arehis point, people online saying congratulations to taylor swift for refusing to allow her music on apple. yvonne: that's it for us in "trending business." stay tuned for "asia edge" and the biggest stories of the day. ♪

>> middle of the asian trading day and it's a cloudy look outside. the skyline of hong kong. bit of murkiness for the markets as well with back-to-back meetings for correctivead of this sphere of. we're live in hong kong. this is "asia edge." the top stories this hour,

stocks rise across the region ahead of the latest french talks on greece. ceo quits while on holiday. there's been no word from him since. down to the wire, meeting creditors once again with the debt headline just days away. also coming up, hitting a sour note taylor swift pulling away from the apple streaming service accusing them of ripping off artist and producer's all in this monday morning a version of "asia edge." >> keeping my eye on the markets and we're seeing a third day up with the exception of a few weeks pots. and a fewre declines banks as well pulling down the index. let's not take that away but it's a fairly good day for the markets. the s&p futures are dropping at last i checked