and the final feeling, the u.s. reaching the world cup final, beating germany 2-0. they will face defending champions japan or england. looking at that position in shanghai. david: the philippines, falling. down 0.8. shanghai composite, 50.2. not bad. still showing.s we will give you more on that. the boj, quarterly survey. 200,000 companies. building approval up. very nice. out of city this morning.

sydney this morning to read a few markets closed. hong kong, thailand. shanghai composite, two day chart. there we go. not as wild as yesterday. 90 point drop. back down. let me sure you shares of sony. massive trap yesterday. recovery, a little bit right now. the surprise announcement, raising money. a lot of that going into upping capacity. now. right let's end with the euro. market, speculation

that it can, will, and should. mario draghi will do everything possible to save the euro. 111. 40. let me leave it there. rishaad: the long-running greek debt drama turning another page. germanyrejecting, and the euro group saying no and the imf confirming it has not been paid i. to playditors refusing ball. not goingare simply to give in. the eurogroup president said, it would be crazy to extend the bail out. angela merkel shutting down additional aid.

saying, we will negotiate about nothing until the july 5 referendum called by alexis tsipras. the eurogroup views it as a greek decision about whether to remain in the euro. for the greekire prime minister. he saw a as leverage, but now hand.re taking the upper and glenn merkel as well as the french president saying there will be no referendum -- no negotiation until the results the referendum comes. it shows brinkmanship and growing impatience with the greek government. the situation on the ground continues to be troubling for those waiting to withdraw money. much uncertainty as both sides trade barbs. we know euro area finance ministers will be holding a conference call later today to

discuss the latest to bid for a bailout extension. we are told it falls short of what the eurogroup members would like. key reforms that have not been committed to buy prime minister alexis summers --alexis tsipras. after the imf will that greece said they would not pay. saying them the imf, greeks had requested a delay repaying this bailout. $1.7 billion. board will take a closer look. the rating agencies say this does not automatically trigger a default. and a muchggle room that could happen in the next few days. an interesting next few days as a greece digs in.

will look at that story throughout the course of the program. do tweet us your thoughts. with have a look at what is going on with the chinese pmi numbers. the factories sluggish. the central bank continues to these. -- ease. two sets of pmi numbers. reporter: it is either sluggish manufacturing or stable. but the numbers do not lie. pmi came in atne 50.2. that is the same reading as may. below the forecast that economists forecast. is that sluggish or a stabilization? i believe of both. the fourth month in a row above 50. at ameans it is expanding

slow pace but expanding. i want to turn the page and bring up the hsbc manufacturing. mostly a smaller survey, private sector. the official pmi state owned manufacturers. is is at 49.4. sentiment is deteriorating but at a slower pace, 49.4. the previous month was 49.2. that being said, below estimates. the number, we got about a week ago, 49.6. this, line reading of all yes, we have had interest rate cuts and we know the central government is worried about growth.

but it is yet to really feed into the manufacturing sector. on the bright side, i want to bring up the services sector. 53.8. 52 was the previous month. the worst reading since december, 2008. services is expanding but has ton a week sector compared historic numbers. numbers coming out of samsung. activist investor elliott, he has an injunction saying samsung cmt -- he had challenged that. the company does not plan to meet with elliott at the moment. that is according to the ceo. let's move to some of the other stories making headlines.

reporter: first to japan. nesturvey of his confidence coming in better than expected especially for large manufacturers. the first gain in three quarters. it shows closer to 10%. 5%.mates were for just encouraging signs for the recovery in japan. showing the stimulus program having the desired effect. estimates to come in at a rating of 16. casino stocks got a boost in new york trade. travelers from mainland china can now stay in macau for seven days instead of five. high-frequency gamblers can visit twice every 30 days.

last year, the government shortened the perceived stay in what was seen as perceived cheating for visa holders. new york, las vegas sands, added for what -- 4.1%. a win for the usa in the women's world cup in montréal. they are through to the final after defeating germany, 2-0. the u.s. defense very dominant. one of the goals was a controversial penalty. germany missed a spot kick of its own. the usa, which is the second ranked team, will play either japan or england. they play today in the second semi final. those are the top headlines. thisad: we are looking at

indian airline. details on that. coming up next, japan's recovery has been a slow one. our manufacturers becoming -- are manufacturers becoming more up eight -- upbeat? ♪

anchor: headlines around the world. at least 113 people killed in a plane crash in indonesia. 101 passengers and 12 crew were on board. it hit the liens and came down. it is not clear if there were casualties on the ground. witnesses suggest there were engine fires. the pilot was ordered to return to base due to a malfunction. japan has launched an

investigation after a man committed suicide on a bullet train. officials say he was a 71-year-old from tokyo. he set himself on fire in a toilet. a 50-year-old woman died from smoke inhalation's. the trains were halted but returned to service. the train has not had a single death since starting in 1954. a nuclear deal appears to be within reach with iran. talks have been extended by another week to allow time to draw up the text of a final agreement. secretary of state john kerry and the russian foreign minister 'sid the only stumbling block procedural. iran hopes sanctions will be restrictingturn for its nuclear program. better news from japan.

comments tree from our guest. thank you for joining us. increase in travel expenditure plans. we have the survey, rising way more than expected. has japan turned to the corner? the business conditions certainly improved quite a lot. it is not only happening for manufacturing but also nonmanufacturing. manufacturing sector companies have benefited from depreciation of the yen and inventory adjustment. nonmanufacturing sector companies are benefiting from theund tourism and expectation for the rising consumption which we think should come in q3.

the data is not affecting some of the current data we are getting. industrial production, we fell back. which is telling the truth. the sentiment or the numbers on the ground? the industrialue production has dropped in may. inventory adjustment and also a decline in exports. sentiment is improving. isthink the u.s. economy going to pick up again in q3, which should help japan's exports to rise. is recovery in consumption likely to help nonmanufacturing economy. the recovery is underway in japan. have we found a floor

for the yen? .e seem to be locked into that do you see further depreciation? guest: if the u.s. fed is going to raise the interest rates, there is going to be a depreciation move. the degree of depreciation should be limited. we are sticking to our forecast of ¥125 at the end of this year. it is going to be contingent on when the fed moves. to get the 2%se inflation target? on course for growth as well? guest: 2% is far away.

this is primarily because of the lower oil prices. we believe the inflation is going to go up to around 1.2%. that is quite a good number for japan. i believe we don't really need is 2% inflation. given that, the deflationary environment is behind us. abenomics is quite successful so far. the new strategies approved by binet, thet, -- ca government is still doing their best effort to improve the growth of japan. the forecast is to improve the supply side of the japanese economy. beply constraints appear to severe for japan's future

growth. i think it is really right to focus on the supply constraint i improving productivity and in allowing investment to increase. rishaad: what about the bank of japan? people saying they have had to increase the amount in their bond repurchasing program. means theree data is a likelihood of that? guest: i agree with you. i don't think the boj is likely to increase its purchase this year. are aiming tohey achieve 2% inflation. i believe additional easing should take place sometime next year. we are predicting april, next year additional easing. we are thinking boj would want

equity.dditional i think these measures are likely to increase confidence in the japanese economy. rishaad: thank you very much indeed. joining me from tokyo. up next, avoiding a downgrade. a brighter future for malaysia. ♪

rishaad: malaysia's improving finances have helped avoid a downgrade. at's bring in haslinda min. haslinda: a reaction from the prime minister. he says he is pleased. he is happy to say the least. the company really relieved. to losing the a rating. the minister of finance met up the financeshem

are stable. there is a reasonably strong economic growth. the decision helpful. they have been trying to fix the troubled finances. the state investment company debt, $11p billion last year. it has hurt investor confidence not to mention the ringgit. that has the potential to put malaysia's credit rating at risk. malaysia's more naturally at triple b. ringgit the weakening is a problem. our alarm bells going off on

this? haslinda: it has been a problem for months now. let's show you how low it has gotten. the worst performer in asia over the last six months. we have repeatedly had from federal bank governors -- saying fundamental reaction, it is market fundamentals. oil prices not helping because malaysia is a crude exporter. possibleerns about a rate hike likely to happen later this year. the ringgit struggling. rishaad: we have been talking about greece.

greece has been urged by the imf to stick to their austerity program. the imf is given the opposite advice to australia, telling them to spend and spend again. let's go to sydney. promising to cut the deficit, but the imf says there is no need. why? reporter: these come from what known as thely country review. australiay chief says has fiscal space and he thinks it would be useful to have higher public investment. low debt to gdp ratio. 20% to when you consider most other advanced countries have around 70%. whichke a look at greece, has 170%. there is definitely room for australia to borrow and spend.

the imf also saying capital spending is a return in the form of growth. citigroup research bears that out. if the government just allowed spending to continue at the would havee, growth increased, they campaigned on debt and deficit reduction. rishaad: we are going to take a break. on the other side, abrupt trading of the taiwanese dollar. what is going on there. when we continue. ♪

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rishaad: a look at our top stories. china's data remains an expansion territory, although sluggish. boj, great concerns china will introduce further measures to support the economy. the world bank has cut gdp forecasts. bid for a new bailout has been rejected by germany.

angela merkel says there will be no negotiations until sunday's referendum. it is being seen as a vote on staying in the euro. blocked theeoul has request for a merger. elliott says the deal under mao use -- under values the company. japan closing up this morning after positive economic data. let's see what else is moving the markets. david. >> david: we are still higher. compared to what we are seeing across. there we go. other one.d the movers across the

region come a time to look at their individual stories. a nice conditional offer, up 20%. talks are still in the early stages right now. there is a risk it could fall through. perhaps that explains the gap between where we are now and the price. kakao, which makes an ap to -- she's shade iseido, 7.5%. they will bed

disposing of an asset that has been losing money for five years. other things, we talked about sony. on a drop in yesterday price announcement. despite the s&p dropping their rating. selective default. sharp shares up. back to you. rishaad: the long-running greek debt drama turning another page. rejected in the end. germany said, no deals. the imf confirmed that they have not been paid. creditors seemingly have had nothing. reporter: the future remains uncertain at the 11th hour. greece submitting a bailout extension proposal which was

rejected by creditors. the brinksmanship happening. the gloves coming off, so to speak. angela merkel who has been sheured in her comments, said we will negotiate about absolutely nothing before the planned referendum is had. she is referring to sunday, july 5, when greeks go to the polls to vote on austerity. as ais seen by eurogroup decision to stay in the euro. eurogroup members led by angela merkel said, if you want to have a referendum, which alexis tsipras has championed, you can have it but we will not talk until then. rishaad: euro area finance losses are taking up the bid for aid. i am looking at it here.

11:30 brussels time. they did not make the payment. they did not make the payment. that doesn't necessarily come as a surprise. they would not make the payment. perhaps, thumbing their nose at the imf. the deadline was not met. the imf through a spokesman saying, they will consider a request by greece for a delayed payment. what we are hearing regarding the greek bid for a bailout extension, the phone call scheduled for later today, it is thin on details. it does not contain the necessary reforms he eurogroup members have requested. it seems people are divided. a long time ago, the

2004 olympic games in athens. let's check on other stories. shares recovering after a plunge. the company announcing a share sale in three decades. 10% of its market value. finance -- the ladle fiscal policyst is setting a limit on spending. the prime minister is trying to rein in the national debt and stoke up inflation. airbus has won an order from china. the deal was announced in paris. airbus is also finalizing an agreement to open a second

facility where the jets will be sent for completion. of taiwan ist quietly intervening in the currency markets. are reporterwe -- joins us from taiwan. tell us about the strange pattern over the last three years. what is going on? justina: the strange pattern is for the past three years, almost every day, the taiwan dollar depreciates. almost a very weird daily occurrence. from what we have been hearing from traders, what happens is since 2013, they have not been allowed to buy taiwan dollar's during the last half hour of trading. the central bank will get the banks to conduct a trade to

essentially guide the closing price which essentially explains why there is this really strange pattern when it comes to the taiwan dollar. weirdd: you pointed out a , which depreciates every last hour we are there must be more to it. why is that the case? justina: as i just said, there are two state for to banks which conduct a trade at a certain rate that is determined by the central bank. in addition to that, and sometimes the central bank will call up traders and ask them to cancel orders. there is an unofficial remittance cap, $30 million per

corporate client. there is a wide array of unofficial intervention tactics that the central bank uses to weaken the exchange rate. rishaad: thank you very much for that. the strange movements from taipei. we are having a look at a korean rejectedt has the request to buy samsung affiliates. wendy to take over the construction company, samsung cmt. it was part of an effort to s control. lee family' paul elliott owns over 70% of c&t.ung

his opposition has been overruled. promised to buy back shares. the court says it will rule on this before july 7 team. look at that story. quite convoluted. just download the bloomberg app. tablet or other devices. coming up, the company that posted theshop biggest revenues ever. how much of that money coming from this part of the world. adobe's asia president. ♪

haslinda: the u.s. and cuba are ready to industry cement -- and by openingt embassies. it marks a major milestone but issues remain. among them, human rights, and demand for compensation for american properties confiscated. the world health organization come the firstbee country to eliminate mother to transmission's of hiv and sinless. -- syphilis. more than one million women went hiv around the world become pregnant.

univisionmp has slept univision with a half billion dollar lawsuit over their decision to not air the miss universe pageant. hisays they have piloted right to free speech. we are going to have a look at the software company that makes pdfs and photoshop. ideally revamped that there business model. to a cloud-basedro system. thank you for joining us. tell us about this transformation. however toby is looking to the future. be here. is great to what we have done as a company's

focus on moving from a traditional software model where customers access it through retail and move it to a cloud offering where realizations have the advantage of updated technology. down through the cloud to our customers to our customers. the results have been spectacular. idea of howe us an spectacular. paul: we have had, in the last quarter, we have overachieved our expectations on subscriber growth. where are expecting to have 5.9 million customers accessing our subscription.ough withorld is exploding content. it is being created digitally.

there is a massive consumption of that digitized content. it allows customers to create that content. that is only one part of our business. the creative cloud. another is the marketing cloud, which is also performing strongly specifically here and asia. it allows organizations to manage and measure digital content in the market. you have moved the business to a server-based, subscription model. do the products themselves, how are they evolving? paul: the products continue to evolve. we have done a major release of our creative cloud software. acrobat,, illustrator, and others that constantly get updated. they get updated around three or four areas.

speed and agility, allowing customers to do more. embracing some of the megatrends and how customers need to be able to access their nd use it in a mobile context. enterprise customers are talking to us about, how can they get increased efficiency and productivity gains by having access to cloud-based technology? example, and enterprise organization may have worked with an advertising agency. sending files between the two bank organizations. to do that in the cloud creates a workflow that is increasingly efficient in the speed to market is faster. rishaad: let's talk about the asia-pacific. business isthe attributable to asia-pacific?

paul: we represent about 15% of the company's revenues. rishaad: you notice anything? it must be growing rapidly compared to more mature markets. i want to get a sense of how business practices and workflows differ compared to europe or the u.s.. paul: asia is different when it comes to the drive towards mobile. there are whole economies that have i passed access to the internet via desktop pcs. andork with organizations emerging markets like the philippines and india where they are building out technology and ats with apps mobile only strategy. a lot of that is because, if you think about the technology, it is straight to mobile.

individuals do not necessarily have access to a pc. we are seeing a lot of demand for mobile ready products. organizations saying, how do i get a better return on my marketing for mobile? big take-upseeing a for organizations using digital in key vertical markets. in particular, travel and leisure. particular, investing heavily in converting and attracting customers. retail is exploding. one of the areas we are seeing significant growth is the government. -- e-government. they're looking for ways to engage with citizens in an electronic and digital way. rishaad: great having you in the program. up next, going public. life to mumbai. finding out about one indian'

airline's plans to raise half $1 billion. ♪

largest airline is going public. let's get more details. what more do we know about this ipo? reporter: the 2005 listing -- the owner of one of india's most profitable airlines. at $4l value the airline billion. will sellhareholders

-- those selling the shares include the travel entrepreneur and former -- fulfill whom folk o in 2006. indig it has grown to be india's biggest airline in market share and carries one out of three indian travelers. --y denied ever having to they are well funded and adequately funded. one of the reasons it could be approaching the markets is because the aviation market in india is rapidly growing. to struggle toue make money for a variety of reasons. including high costs and cup titian. it has forced airlines to offer

hefty discounts that they can all afford. -- ill afford. go saying theyi need a little cash to stay afloat in the market. thank you very much. let's take a look at suv's caribe have become some of the fastest sellers in the automobile world. the chiefup with executive and asked him. reporter: we are trying to ensure we have a good customer base so we are insulated from anyone market. first and foremost, we are a sports car manufacturer. our goal is to be the manufacturer and designer of the best cars in the world.

we want to beatty iconic sports car company. no suv. nothing like that at all. focused on the driver. we have three tears. tiers. the most attainable car. the super series cars. and most recently, the six of 85 longtail. 675 longtail. themost recent addition to fleet is the 570 s. to a broaderg technology tothe a broader customer base. the top speed of over 200 miles per hour. zero to 60 in 3.2 seconds.

you look at features as the way the air comes across the top of the doors, and through these ducts. dvwere taking air into cool eight. it sends error across the back. it creates down forced to give you better grip and handling. you need to look at this as something that is not just a piece of art, it is a piece of engineering. a lot of that design is for technical reasons. rishaad: that is it for this midweek edition of "trending business." yvonne will be joining me. looking at the latest situation for greece. something the imf confirming. as far asis happening better data coming out of japan.

capital expenditure plans showing some blowout figures on the horizon. our guests will be joining us shortly. ♪

al: i'm al hunt. john: i'm john heilemann. with all due respect to chris christie, you're wearing our name out. >> with all due respect. with all due respect. with all due respect. with all due respect. your opinions don't matter a lot. john: that was good. first, welcome. bachelor number 14. christopher james chris christie went back to his old high school to announce he is running for president.