it is not expected to be lifted anytime soon. unreasonable, challenging hong kong's decision to suspend shares indefinitely. let us know we think about top stories, follow me on twitter. a bit of negativity in the australian market, but looking like they are on the up in china and hong kong. reporter: dowd 1/10 of a percent right now. shanghai still up three quarters of a percent. yvonne: it has been a very volatile week. hasa stocks -- the worry died down a bit. volatility in equities overall seems to have eased now that we

have greece -- the parliament approving bailout terms. as well as keeping monetary policy in the euro region on hold. seems like ase it nonissue now. the big focus now is global recovery. monetary policy. we have heard from janet yellen, aboutdraghi, all talking the policies and how things will move forward. the fed could left interest rates this year. the next 1-2 months, the first positive months since february according to some traders. i want to and things with the yen, we have been tracking this all morning, a lot of weakness in the last 4-5 days. -- let's talk about the euro.

equities -- let's look at that. we were watching as it hits that 124 -- career. corporate the move is being challenged and the result may show how much influence of foreign investors have in korea. what is happening? in the air and south korea after six weeks of the public at all between conglomerates. it has come down to a vote taking place as we speak. management has put everything into blocking the merger of samsung's ent and jail industries -- cheil industries. shareholders.d

they have approved the merger, it is up to the shareholders at samsung, which includes minority investors are it take a look at the composition of shareholders at samsung. if you take a look at a pie chart coming up, you can see domesticle are institutions, more than 20% of shareholders are domestic institutions but still, you have 27% of foreigners and 21% individuals invested in samsung. these minority investors becoming more active, encouraged by the opposition to this merger, this is not a done deal yet. this will have to be voted on today. otherwise it would have been a done deal for samsung. we are talking about a country or corporate governance is influenced by large conglomerates, but the

opposition has bought focused to south korea's corporate world. holds more than $10 billion in shares in samsung's of the merger would solidify the heir apparent. samsung are all seeming very volatile trading today as we suspect. they results of the vote coming out anytime now. rishaad: this is a story we are looking at throughout the show. you can tweet us your thoughts. indeed included #as well. include that hashtag as well. news coming from the european central bank in the shape of mario draghi, coming to the rescue again. david: thank you. for mario draghi, there was

never a question based on what he said for them that greece would leave the eurozone and actually -- if and when they were continue to be in the euro area, similar to what was said early this morning. grexit" is off the table. he also weighed in at they will get paid on monday, a big payment coming up. also a potential that relief for greece. is not a question of if that how it happens. >> it is uncontroversial that debt relief is necessary and i think the novelty is the dispute over that. the issue is, what is the best form of debt relief within our framework, within our legal institutional framework?

focus on thisuld point in the coming weeks. my evidence leads me to say that we will be repaid as well as the imf. getting creative how we restructure that. 3.5 billion euros is owed to the imf on monday. three things we are watching. these are all connected. $7 billion bridge loan. hinging on repayment this bridge loan. it has already been agreed on the way we understand it. we expect the formal announcement late today. the german vote takes place at

7:00 p.m. hong kong time. will greek banks real but on monday? the government has promised they will reopen banks on monday. as for capital controls, these controls will still be in place. let's have a look at what us we are watching. juliet: energy says a decision by hong kong regulators -- hener removed itself from trading after its stock plunged 47% in half an hour. have then, shareholders not been updated. energy says speculated -- hanergy plans to challenge the suspension. google has broken a long string .f estimates, beating estimates

sales rose 13% as the company cut back on risky projects. sending shares higher in after-hours trade. apple employees have won the right to collectively sue the company over its security policy. staff is required to go through antitheft back-check when they some for, a process that say is demoralizing. they say they should be compensated for time spent in those checks. ahead, we go to mumbai for the details in the plunge and iron ore prices. ♪

rishaad: -- yvonne: we are seeing a rebound in oil. we are heading into what could be a three week decline for oil. the focus is on this glut that may stick around. 100 million barrels above average for this time of year. barclays talking about what could happen with the iran deal. they are talking about exports potentially jumping into the market. they may still weigh on prices even if gains are gradual.

goldman sachs saying exports or not be felt until 2016. copper also down. trading low since november. we are seeing some weakness there. 13% down for the past 12 months. platinum near six-year low as well. ore prices have rebounded the last two days. last week, when we saw prices plunged to $45, plunging 10% in one session, so levels around -- rio tinto down this morning. rishaad: let's have a look at what else is going on.

our guess produces commodities in russia. great to see you. guest: it is a tough time in bulk commodities. life is not over. there are certain companies that have an exciting future. i like to think irc is one of them. we have been talking about it for ages. guest: mines take a long time to build. market,this depressed isenne s is a margin -- kns a margin contributor. rishaad: the function of that is because of the weakness of the ruble. ruble isfinitely, the helping us. the ruble is in a position where that contributes probably -- a probably 20% decrease to our

cost. it is the geography and ecology, we are close to the chinese border and we can deliver our product efficiently. how do you break even? guest: for iron ore, we are talking about a cost of $35 per ton. there is an exciting bridge project. rishaad: the bridges connected with the rest of the infrastructure. guest: there are costs. when we report costs is delivered costs because we are so close to china. it is the slb cost for the ,aterial as it is on a ship where is our cost is actually delivered to customers, which we do in 2-3 days. rishaad: we are talking about iron ore prices $50 a ton.

what are your projections here? comfort is the wrong word. as you said, it is definitely tough times. it is a supply demand function that we are talking about here. we still see that demand grow month on month, we are on 5%, year on year, we are up one half a percent. we saw the china data figures this month which were still positive. when we see a contraction in the demand, which a lot of people talk about, it is a shrinkage of the growth, rather than real demand. what we are talking about is a supply problem. big boysyou have the just churning this stuff out and doing it almost you know if i wasn't actually a cynic i would say they would -- driving guys a cue out of business. guest: there is talk of the

australian press about the big three wanted to dominate and saturate. i think it is wrong heard i was at a big conference and i listened to the big producers in a talk about making a profit on every extra ton, but i think what they don't realize it -- will of course they realize it -- but they don't take into account as they make a profit, they cannibalize the profit from the previous time and that doesn't just impact them, it impacts everybody, including us. so you will see some cut offs, i am sure that appear d.c. cutoffs already. several of the australian smaller producers are already announcing cuts. rishaad: what are your numbers looking like at the moment? difficult to talk about numbers because of the rights issue. change for us because it means that we sell our funding gaps of 2015.

rishaad: 400 million hong kong dollars? guest: about 50 million u.s.. there is still an investor appetite for our sector, which is something that we were pleased to find because a lot of people have written off the sector. i think it shows not just the sector but the low-cost producing. rishaad: when will you start making money? guest: again, difficult to say. our i can tell you is that cost this year's half a million tons of production will be at full capacity of 3.2 million tons by the end of the year and that 3.2 million tons still at these prices are very profitable production numbers so this is really an exciting time for irc and i am pleased to tell people about that. rishaad: do you have any

projections for iron ore prices? guest: we have lots of projections and we run a series of dekes and our analysis. we don't make those hugely public as you can imagine. i think we will definitely see volatility continue. but i don't think for my personal perspective that any price movement below where it is i do seeattainable so a position of consolidation where we are today and hopefully an improvement. rishaad: thank you very much. have a great weekend. stories making headlines, the u.s. saying that the murders of four u.s. marines and chattanooga was an act of domestic terrorism. the killer is also dead. he is identified as a 24-year-old of kuwaiti origin.

the shootings happened at two basis. a soldier and a police officer were also wounded. japan has taken the next step toward a proactive defense despite protests inside parliament and on the streets outside. defying opponents, prime minister shinzo abe a paved the way. he wants to give the military freedom to defend japan's allies and participate in a international peacekeeping operations. japan and china have held high-level talks just hours after the defense mode. national security adviser met with the state counselor in beijing. they are trying to resolve a territorial dispute. stepsaying the talks are a forward to pave the way for more discussions in the future. his remarks underlined his that china wants better relations with trading partners. , telling up the total,

we look at the greek assets that could up -- and of being central to its bailout. we are in athens after this break. ♪

rishaad: the grease is bailout might depend on an asset fun. as it is based in luxembourg,

they are arguing about which asset should be involved. we looked at some of the possible contenders. >> the building behind me is the greekarters of a major company, a monopoly in the country. to privatize it, we would have to split it into bang. -- in two. it would be the most valuable product in the privatization. they are the jewels of the crown. funds forthe major the privatization process. interested in --

astir is a summer resort outside athens, the creme de la creme of the tour is an industry. i hope it will be a major asset in the privatization package. businesses are looking for a market which is capable of objectives.as with obstacles in the market, your realize that objectives cannot be achieved and therefore the interest of the investors remains limited. in 2011, the cost of the value of the privatization assets would be around 50 billion euros . this was not an accurate number. with, we are coming back

the same number in the same estimation. i do not believe that this is a realistic figure. me is theng behind headquarters of the greek telecom, one of the major companies in the country, but longing 90% to deutsche telekom. this building is unlikely -- is likely to be included in the privatization package. it is totally liberalize. -- liberalized. behind me is an asset which is not for sale, and that is the acropolis. stories we are tracking this morning, bad news piling up at toshiba. a preliminary report from independent inquiry say it failed to's thought prophet being overstated. in involves as much as $1.3 billion.

may stepba president down in september to take responsibility for the scandal. an overhaul of management are also expected. shares are up nearly 2%. most in twoat the months. the losses far worse than anticipated. sharks fall last quarter is around $282 million. that is 30% worse than pessimistic rejections. against the or crucial shareholder vote taking place in south korea, we have an update when he returned. ♪

♪ ♪ ♪ get excited for the 1989 world tour

with exclusive behind the scenes footage, all of taylor swift's music videos, interviews, and more. xfinity is the destination for all things taylor swift. emily: xiaomi may be a new kid on the block, but it is no longer so little. xiaomi rivals apple and samsung in the chinese smartphone market and is valued at $45 billion. worldwide it is not a household name. former google executive hugo barra intends to change that. brazil, heised in left a top job as the facebook android to take xiaomi global. joining me, xiaomi vice president of global operations, hugo barra.