support him and accuse him of caving in to german pressure. rumors of a breakthrough in the talks in vienna. organizers say it w would have been a triumph of diplomacy. follow me on twitter. use that #as well. von having a look at what is happening in markets. evon: that is right. four-dayrall, the best gain we have seen in 18 months. things looking reasonably well. there is some possible relief from the greek debt crisis now that there is a greek bailout deal. 225ave seen the nikkei leading some of the gains at

1.4%. one-'-- one-third of a percent. we see gains in the taiwan, up .5%. i want to talk about the euro. we see a reversal from an early trade. pretty much flat, about 1.10. selling still some pressure here. of course, the debt deal has to go through several national parliaments, including greece, before it is a done deal. we see a little bit of confusion. talking about the dollar-in, it has weakened. right now, it is 1.23. the greek prime minister stands accused of abandoning his personals and giving into germany. inxis tsipras is back

athens, trying to sell the deal he struck with creditors, but hardliners say he will not support it. >> the payment was supposed to be made monday. will review they this. the imf is owed 2 billion euros from greece so far. twist in theatest ongoing debt saga. we found out that greece has repaid a samurai bond worth ¥20 billion. that is critical because had they missed the payment, it would have led to a default on other public bonds. the bigger story, though, we have athens in upheaval -- the political system there in series of party figures out where to go next. alexis tsipras agreeing to these

bailout terms, harsh austerity measures which he and his party campaigned against, including cuts to pensions for workers, tax increases, and extensive international oversight, likening to a loss of sovereignty to -- for the greeks. -- coming up against a tough challenge from his own party and others. the agreement must go through the party. we expect approvals for central elements and that is because the opposition power -- party is likely to give enough votes. the deal likely to cause a significant upward domestically, in greece, and around europe. there is been a backlash against greece and the germans. german chancellor angela merkel facing tough criticism that the germans took control of the situation and use that as a coup to blackmail greece. those are some of the words that are being used. very high tensions on both sides. people very upset over how this is playing out, and at the end

of the day, for dairy greeks, it will mean tough, new austerity itsures, -- ordinary greeks, will mean tough, new austerity measures, prolonging the pain of the last five years, and a euro, a common currency project that will rewrite its history, the rules of holidays business going forward. rishaad: if you want more details, we will be covering this throughout the course of the show. tweet your thoughts. include #trendingbusiness. australian eyes on oil minors on news that the brazil -- brazilian company will cut supply. paul, can this last? paul: it really does depend on a number of factors, but reducing production certainly help. they are going to cut 25 million tons right away and a further 53 million tons by 2018.

it helps the share price, up more than 5%, and when the mining stocks opened here in australia, it was a similar story. up more than 5.4%. the him a product's iron or a similar story for bhp, of more than 3%. well, the lowest cost iron or producer, also up by more than 3% this morning. it is not just a supply story. the other side of the coin is demand and china is just not importing the iron ore like it used to. this is a situation that rio tinto describes as the new normal and there is more supply coming on in australia as well open a mine will which will begin shipments later this year. bloom suggests the oversupply problem will persist well into national bloomberg suggests the

-- bloomberg suggests the oversupply problem will persist well and to 25th -- 2017. rishaad: here is sherry. another deadline miss -- iran and world leaders working on the final details of it program in return for easing sanctions. a deal could come at any time, but for the time being, negotiators have adjourned at the final meeting here final text is expected to be larger than expected. the last obstacle was around the timing and language of the new un security council resolution that will lift penalties on an rain in companies and individuals -- on a rainy and companies -- iranian companies and institutions. lifted her when they agreed on the lifting of an arms embargo that will stretch over eight years. kerry mettary john

with the european union foreign policy chief and his russian counterpart late into the night, but the white house has said that some sticking points remain. john kerry expressed optimism earlier. he said sunday that he and the foreign minister of iran had a very good meeting. once a deal is struck, the u.s. congress is expected to be the final battlefield. lawmakers have 60 days to review an agreement. in japan, reports out of the country say toshiba could lose half of its board members after an investigation into accounting irregularities. the nikkei news says eight of the 16 directors are likely to step down. toshiba has had a -- sent a third-party inquiry that will need to earnings write-downs. and the profit right down over the previous five years of the $445 million. toshiba is accused of intentionally delaying booking

losses. the company may now have to sell assets worth $1.7 billion, and reports say that could include part of its stake in the atomic power plant maker westinghouse electric. a company spokesperson has said toshiba is not aware of a deliberate delay in accounting for losses and is still awaiting the results of that investigation. now, facebook's market value has dollars, becoming the first company in the s&p 500 index to reach that level so quickly. the social network listed just three years ago has been previous record holder google in talking to $250 billion level. google needed about 80 years to manage that. comparison, apple is worth more than $720 billion. now, this came after facebook climbed 2.4% monday to close at

a record. investor confidence that the company will continue to increase mobile advertising sales if making the stock more attractive. revenue from ads increased 46% in the first quarter from a euro here. more than two thirds of that came from mobile ad sales. rishaad: coming up later on the program, becoming a fragrant harbor -- how hong kong has been cleaned up its act. ther this, turning diplomatic tide -- how a possible nuclear deal with iran could change the regions geopolitical equation. ♪

rishaad: breaking news at the moment -- the chinese foreign investment figures just came out. reserves for june came out at attend below the

$3.7 trillion figure economists were looking for as well. that just underlines the fact -- has theis still world's biggest foreign exchange reserves. let's go back to the top stories -- hopes of an imminent deal on iran's nuclear program. we bring in the director of the center for nuclear non-proliferation and disarmament under the former u.s. secretary general. deal, close to a expecting an announcement, but not there yet. this could be scuttled at the last minute, couldn't it? well, no deal is complete until every part has been worked out. there is no deal until everything has been agreed. rishaad: what you think would be the sticking point, allowing the u.s. to visit military sites

across iran? it would not. theould appear that sticking point would be lifting sanctions on the arms and go to the armsh respect to program. issues like inspections, the number of centrifuges, nuclear materials, the reactors, and what they will be operating -- these issues have been dealt but do they now address the arms embargo, particularly those not nuclear-related in connection with's missile program -- that would appear to be the final sticking point. some havehe thing is

said a bad deal is better than no deal. what is your view? ramesh: i do not think so. i am not sure that would be acceptable to either side. let's address it from three of water different questions -- one, how can you make sure we deter, dissuade, and delay any efforts by iran to the lawn with weaponization? the answer to that has been to close off the plutonium completely, so iran will not be permitted to engage in separation of plutonium in any facilities and reactors. secondly, restrict the highly enriched uranium. the number of centrifuges will come down from 19,000 or so at the time of the interim agreement, to 6000, and the number that will be allowed to operate will be restricted to 5000, as opposed to the 11,000 in operation.

addition, how can we make sure we have the capacity to forct -- detect any effort cheating? there, we have demanded much more intrusive inspection led by the international atomic energy institute, and more intrusive inspection across a range of facilities and the global supply chains. that is what has been agreed to as well. the third question we have an influence in is if we do detect cheating, can we make sure we have enough time to do something there, according to the u.s. fact sheet released some months earlier, the calculation was that initially, or at the time we entered into negotiations, we had a two -three-month window. with the new deal, we would have at least 12 months, possibly more.

those are the three sets of issues that were concerned. walksides are prepared to rather than come to a bad idea. from iran's point of view, the question was when doing the sanctions and when can they be reinforced? the problem is we have an overlapping set of unilateral sanctions. --haad: professor ramesh: sorry, go on. rishaad: i want to talk about the geopolitical impact. of deal will provoke the ire saudi arabia and israel, isn't not? ramesh: it is. saudi arabia wants the same enrichment capability, the israelis are opposed to any deal because around cannot be trusted. this is not ending the

possibility of iran getting a bomb, so they are opposed to it. framed it has geopolitics since the iranian revolution in 19 78-1979. that and recast the entire geopolitics of the region in ways that we cannot really predict. the expectation is it would be largely positive because iran is a significant regional actor. much of the security agenda for the region cannot be achieved without iranian cooperation. so, it will have to go to congress. love and be a big hurdle for president obama to get it through that -- will that be a big hurdle for president obama to get it through that? ramesh: since they could not get the deal last week, the congress has 60 days to review it. the same difficulty will be

faced inside when they go back to tehran. let's forget, there is no consensus in agreement in tehran and inside iran. they are deeply scarred by history and our opposed to tricking from the poisoned chalice of any agreement with the united states. both will have work to do when they go back to their respective capitals. rishaad: and both sides go back to the respective capitals with the spin that we won the basic points --we won this one. ramesh: i think both sides say we have achieved minimal objectives, and on others we would've like something strong, but made concessions in order to eliminate the hurdle too much broader, bigger, and more important objectives. thank you very much, professor, from the center for nuclear nonproliferation and

disarmament. new data coming out of china on foreign exchange reserves -- we have the money supply number four june coming up. it is up 11.8%, representing in rise12% rise -- near-12% in the amount of money in circulation and something called the near money as well, which is deposits and timed savings -- savings accounts as well. the m2 money supply on the way up. 's coming in financing of $6.8 trillion. time to look at the stories around the world. in indonesia, the country has jailed three members of an ethnic minority for conspiring threeudges for convicting men aged in the 20's of violating anti-terrorism and immigration laws. they were arrested while allegedly trying to meet the

leader of a group that has pledged allegiance to the so-called islamic state. staying in the country, bali airport is back in business after a three-day closure called by smoke -- from a nearby volcano. from a nearbysh volcano. the wind is now blowing ash away from the island. the airlines have cleared back lines of passengers while jet star and version australia are checking conditions before resuming flights. onto the middle east, a fire has destroyed at least three boats in the heart of dubai. it is not known what caused the flames. was in golf,rway along with hotels. at least one person suffered

serious burns. the fire was brought under control after about three hours. rishaad: up next, stopping the speculation -- we look at why jack my took to social media to say that he has learned his lesson on china. what is he talking about? we will tell you right after this. ♪

rishaad: you are back with

"trending business" as we look at what is hot on social media. sherry is joined by david. sherry: hot on social media, jack ma has jumped in on stock speculation. he posted that he stopped it a long time ago because he suffered from it before. actually, he makes fun of the fact that people have been commenting that the city is the root of the stock market and that jack ma took down the stock market. people are saying i cannot imagine mr. ma has such a sense of humor. others are commenting, saying please elaborate, we want to stock-takingck -- strategy.

david: pick up a company is the strategy. shery: what are you looking at? david: curtis jackson, the real name of -- 50 cent. david: that is right. filing for bankruptcy. $15 million in assets. cent wearspe that 50 this to his first bankruptcy hearing. he was one of the world's richest rappers, wasn't he? david: yes. and you really cannot avoid these jokes with your name being 50 cent. in this picture he is eating a sandwich and has a plate full of

$100 bills. heartbroken. shery: all gone horribly now. thank you, david. those of the stories trending at this moment on social media. don't forget, it is easy to stay in touch with us on twitter. you can also follow david. david: you had better. rishaad: china sliding in ahead top biddingto take when it comes up -- comes to buying up the black stuff. "trending business" returns in a couple of minutes. ♪

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is comcast business. comcast business. built for business. fourth day and relief over greece after debt soothing nerves. the regional index to its best four day run in 18 months. greek prime minister must accept new austerity conditions. the bailout requires a sales tax overhaul and a ban on pensions.

iranian nuclear talks have broken up after missing yet another deadline but there is talks in vienna that those deals may be close. no time has been set for a possible release. some reports say other diplomats say they can still walk out and blame the other side if negotiations fail. sing a bit of positivity return to what is going on in shanghai. shanghai swinging between gains and losses all small storythe behind the numbers today. up 19% over the past five days. lots of the nation's biggest companies drag down the composite for the first time in four days. seeing some impressive gains with a lot of bargain hunters looking for those since they

were the most hard-hit during that stock market route. we are also watching the hang seng down about one point -- 0.5%. 1.4%.kkei to 25 up about we talked about those miners being the big gainers in the australian shares this morning. up about 13.5%. let's talk about the other movers going on. industrial metals. that price is actually looking pretty good right now amid this greek debt bailout. attaching metals and materials all up right now above 3%. the turmoil could be impacting some of the raw materials in the area as well.

rishaad: now the unenviable task for tsipras trying to sell this deal. up -- explain his seemingly abrupt u-turn. what do we know today that is different yesterday? government is the likely to see a significant change. members of his own syriza party opposed these concessions that the prime minister himself had a post all along but that is what it took to get a deal and in wehange for this bailout, will see pension cuts, tax increases, harsh new austerity that will increase substantial oversight and some are likening it to a loss of sovereignty and asset sales. of assetsn worth

cells -- sales. terms must be approved by wednesday. the opposition party once to sweep into power. switchinge minister yesterday that he said syriza had. supported. introducedl which many new issues and to speaks of 50 billion euros and guarantees it refers toerty the complete destruction of constitutional value and we cannot agree with it. asset sales have been a key issue. they have been trying to sell it and haven't managed

to do it. guest: syriza swept into power by vowing to unwind these asset sales. all of these units blocked these asset sales and now it will be up to teresa and tsipras -- up , however and tsipras long he remains in power, to sell these. it is a perverse situation. rishaad: a harsh backlash against angela merkel as well. saying greece is losing its sovereignty. a german ally said they are effectively making it a protectorate. guest: interesting to see these comments. those who make them perhaps loose sight of the fact that all along angela merkel had stood up resolutely and said we want greece to remain in the eurozone.

she has maintained the value of the common currency project, and has done so avoiding the rhetoric others have introduced. is a substantial player here because germany pays the bills. the greeks are upset and she has been vilified on the ground in athens. even more anger directed at him, but certainly the crown of merkel has been tarnished as some are putting it. but germany is footing the bill for this and merkel has had to play the role of ringmaster and no one comes out unscathed. china back on top as the biggest buyer. david has the story with a look at the numbers. what are we talking about and why is china importing so much? reporter: these two are

interchanging one and two since april. china doesn't have oil domestically. why china hasn fixed rates on energy companies. the story for today is june imports close to 30 million megatons of crude oil. behind ats not far 7.1. don't confuse this with consumption. when you talk about that metric the u.s. inhales oil like no tomorrow. closer to 20 million barrels a day closer to two japan, china, russia combined. part of the equation is economic

growth and part of that is the energy makes. things like car sales which are expected to be less than ideal but this is all about stock plans. the government has been increasing storage capacity across the country. 30 days worth of imports as a buffer and the objective is to get that up to 100 days. china is beginning the top spot. rishaad: it is said at the moment to plan a $23 billion , the bid worth something

like $21 per share. delta is said to be backing plans to buy the bankrupt skymark airlines. intrepid aviation has been in negotiation with several carriers sang skymark's on plan wilma win enough support. the chinese property development saying they plan to expand into the financial industry. a statement on the website saying it is targeting acquisitions in banking securities and insurance. wanda has been keen -- 18% from a year ago. is expecting to raise as much as $2.4 billion.

shares 3%ng into the below the closing price. this after years of losses. money raised from the sale will go toward boosting the chipmaking capacity. the world's biggest social network becoming the fastest reachy in the s&p 500 to a market value of $250 billion. it managed to do that in three years since it went public. asterisk start to the ipl. guest: -- it has become the fastest company to get that $250 billion market cap. taking the title from google. facebook did not have to climb as far as some of those other companies.

it listed at $104.2 billion. that share price hitting above $90 overnight and over three , that dip when had that ipo but they are up 219% in three years. itsraded at 87 times earnings. on the s&p 500 most companies trade at five times their earnings. rishaad: can it sustain this evaluation. i think we will see ceo mark zuckerberg and the coo being quite aggressive. instagram andired make sure if you use a lot of other apps that you have to sign in through facebook. they're capturing that market. nearly every business has a facebook page but 90% of their

sales from advertising sales increased 46%, well above expectations. they're trying to be ahead of the ballgame. lots of targeted advertising there and plans to expand into developing country. rishaad: just download the bloomberg plus application tier mobile or tablet. -- a japaneseng company hoping to prove it could change with the times. ♪ >> it is time now to take a

look at the headlines around the world. in siberia the military barracks collapse killing 23 people and injuring 19 others. more than 300 people were inside when part of it came down. i'm told it was used as a training center for paratroopers. have been airlifted for treatment. wantials from puerto rico cluttered us to push for restructuring the territory's debt. gathering atatives the headquarters in new york and they were asked to be patient.

it seems that little pluto bigger than we thought. on the eve of in a store flyby, the new horizon spacecraft has nailed down the size of the distant world. 2357 kilometers in diameter, 80 kilometers wider than they had thought. the 5 billion kilometer journey culminates this evening when it zooms past the planet. one of japan's most venerable companies is having something of an identity crisis. mitsui is one of japan's leading names but many of you may not have thought so. ♪

rishaad: mitsui once a change of image. yuri has been looking at that and he joins us now. it is unusual to see a japanese company doing such a thing -- do they have a master plan? >> indeed. it is quite an unusual thing for to be lookingpany

at its brand image. generally they are focused on the product itself and they consider if it is good then people will buy it. as with expanding abroad and they are looking to attract other countries and find new business partners they are finding that brand name is very important and if people want to work for a company and stay there they need to feel that this is a great brand. most of us are probably never going to buy a heavy-duty truck but we know caterpillar. if you think of the same size competitor in japan, most are not as aware of the name. with mitsui they realized that as they are in so many different products, most people are not aware what they do. because they have such a heavy section on commodities, most investors have sold their stock and really punished them for it.

so they really have been thinking with we have to explain that we are not just a commodity company and that involves building a strong brand. rebrand how do they themselves and what are they doing thus far jacob >> there are a couple of things they are doing. and on thestor side potential new partner side. they have basically sat down and internal he and had a long three-month sit down with their top manager to say what is a simple way that we can explain our company to most people? so they produced kind of a secret document they are now trying to promote to the people they speak to new potential business partners and so on. on the pop side of things. they have also hired a top designer. who designs and does brand strategy for companies like you to go to even for japanese pop bands. they said we need a new logo and

a new company slogan so they have done that and they've really just up the website. and that is the more consumer facing side of things. mean that the mitsui name is going to be more prominent in the future. going to see it bombarded by advertising extolling its virtues? >> at the moment, we're certainly not going to be walking in to a shop and sing the brand plastered everywhere and i don't think it are going to be doing a lot of tv advertising but they realized that they really need to get the name out even if they are not going to be producing a product with the name right out there. of their strategies going forward is to get into e-commerce. who will certainly be seeing more of the mitsui name on the internet and through other resources. tangibleany results or thing from this rebranding?

mitsui says is a little early so they cannot really mathematically prove that things have gone up. at the end of the day they are still selling crude oil. but certainly the design is working for them and s some of the marketing professional say they are seeing business going up. the trend there is starting to take off. rishaad: thank you very much indeed. the hong kong multibillion-dollar project to clean up its act. ♪

we are joining business

consumer prices in india rose more than last month. inflation for june was up 5.4% from a year ago. economistscting some to drop their predictions by early next year. is wideningtion into whether deutsche bank allowed russians to move money abroad without alerting authorities. the regulators are going through e-mails and client list surrounding the transactions. while but in rubles trades were conducted in dollars through london. the director is stepping down as the emerging market trust. of the remain chairman group that oversees $39 billion in assets initially delivered outside gains but have seen declines over the past two years

and you have been drilling their bench work. chokingies suffer from smog while others find water supplies threatened. hong kong has cleaned up most of its act and is tackling the final stages. shery ahn went to investigate. reporter: stonecutters is becoming one of the largest wastewater treatment plants in the world. it is the company shall two decades of work to clean up the harbor. this new phase of the harbor scheme expands the collection and treatment flushed away by hong kong's millions. raising the success level from the current 50%. of deeplso at 21%

tunnels to connect both sides of the harbor. i am standing 157 meters underground. one of the deepest in hong kong. this whole area will be filled with wastewater to be taken to the facility. >> [inaudible] reporter: this latest upgrade has set hong kong back more than $2 billion. the debate now is over the next phase's biological treatment. this was recommended by an international panel and is now expected to cost nearly $4 billion. environmentalists say treatment

would remove the step and increase water oxygen levels thereby in boosting. paris life. rishaad: that is it for greenlight -- trending business.

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