jubilee, celebrating 50 years of independence in singapore. let us know what you think about the top stories with @rishaadtv and #trendingbusiness. we get into the session in hong kong over in shanghai. i think we have a volume of light. david: that has really been the case. think we're 60% down, you really can't blame investors not understand the dynamics of the market. market. that being said, one correctly predicted that he could back in april. is down to 3100 in two months. that -- just in time for the national holiday. regional benchmark not moving a

lot, japan is keeping things afloat. we are seeing losses and australia moving down, julia will get more on why in just a moment. take a look at southeast asia, it is mixed, but the two year yield is about 72 basis points right now. is pushing a lot of currencies in southeast asia. as with the philippines, all on the way down. that is really playing out as far as an effect is concerned. mention,, i want to earnings yesterday shares on the way down there in hong kong. the short of it is the dividend profits were down 44%, pretax profit that is. the ceo admitting that there are very real challenges, but he

says they are fixable. down .7%. rishaad: look at australia's a $2.2 billion exercise. this backdrop, improving profits to say the least. reporting a 4.3% rise that is 4 billion u.s. dollars. provision charges did rise on the year by 13%. numbers were in line with what the market was looking for. was stronger than what was analysts were looking for. shares are in a trading hold, and we are seeing the other

major stumbling. dollar's,ion aussie newly tomake those the tour a rules making sure the banks have enough capital for home losses. it was fairly isolated from the credit crunch in 2009, another as record low interest rates and the rising prices in sydney. the want intro the banks don't suffer the same defaults that the lenders in the u.s. did. raise $2.5ping to billion. they will be able to buy up to $15,000 worth of shares at a 5% discount yesterday's closing. and as i mentioned, shares and a hold as this takes place, they have underperformed the overall market about 1.5% compared with

5% rise in the asx 200. rishaad: we look at that story, and get your opinion. tweet your thoughts @rishaadtv and include the #-- hashtag #trendingbusiness. here is ann. ann: this manner 70 months ago. it has been linked to the missing malaysia airlines plane. malaysian prime minister said investigators conclusively linked to the piece to the missing aircraft. a french prosecutor stopped short of that, saying only that officials have a strong resumption -- presumption. tests in france show the wing 777. is fropm a boeing

wing piece that washed up is called a flapper on. it is used generally on takeoff and landing. it is been hypothesized that the plane crashed into a remote stretch of the indian ocean southeast of australia. the authorities there say they are sticking to that plan in the same area. the discovery of the piece does not pinpoint where the aircraft 2014,t plunge in march of or white straight so far from its root to beijing. a of say they still want to ask authorities some key questions. moving on to marvell technology, the group is considering a sale of its wireless chip business.

technology investment, the chinese firms have got to be weighing offers which marvel valleys at $1 billion. comment soeclined to far. we do know the chinese firms spent more than 6 billion u.s. dollars on semi conductor accu initions -- acquisitions 2013. has struggled as taiwan's tech wings ordered chips in china. we will see about all pans out. tesla fell in extended trade after cutting its own forecast. it had aimed deliver 55,000 vehicles this year but is lower that target between 50000 and 55,000. some analysts are saying they're not surprised by this news as

tesla had earlier plan to increase deliveries by some 74% this year, some saying that was perhaps a bit of an over exaggerated target. target was relying on orders coming in late in the year. that depended much on the introduction of the long anticipated model x suv. elon musk now says the suv will be worth the wait. supposed to go on 72013, the 2014, he said it is a particularly challenging car to build. the company said it still expects to begin delivering a small number of the suvs in late september. but, that can reduce the output by some 800 vehicles. elon musk any tesla ceo say that it is a choice been a great product or hitting quarterly numbers, and they take the former.

doubled,rders nearly and that was help by the revised china strategy. sees no needays it to raise cash and expects to be free cash flow positive by the third quarter of next year. and look at the stories, and we're other watching -- watching of the stories. rishaad: some positive news out of australia. more jobs are added last month of anyone asked it all stop. let's break down the numbers. more jobs created, but the andess rate creeping up, according to some it is at the highest levels 2002. a bit ofs right, it is a tough report. 38,000 jobs added, which is positive, and the parts

of patient rate went up to a two-year high which means people are confident and looking for jobs. that in turn bolstered the unemployment rate to 6.3. you had more jobs, but the unemployment rate rising two basis points higher than was predicted. the question is, how do you make sense of that? andeneral, the dollar fell, unemployment rose when they saw the participation rate is that it is now down a little bit more, and that affected people's assessment of the job report. the central bank is always saying that it just to the unemployment rate because it tends not to jump around quite so much as the month-to-month climate data. at the month -- employment data. they're pondering what exactly does it mean. the unemployment does seem to juststabilized, dso it is

a matter of what to do. they're releasing the quarterly forecasts tomorrow. at the moment, it looks like they are watching and waiting and looking at interest rates. it was a tough one, but new south wales was where most of the jobs were added. a lot of residential construction was going on there. it was trying to encourage people who were leaving the mining in this rate into a turnovern to allow of jobs or transfer of employment within the economy. a tough read, on the one hand it looks good because employees are hiring and more people looking for work will stop on the other hand, that unemployment rate is back to january levels. it's a little bit unclear what the final conclusion will be. rishaad: michael, thank you very much in sydney. we tell you we have coming up,

we all heard about the silk road, what about the silk railway? bringing the best of europe to china. singaporeeaded to looking to build up to the country's golden jubilee. the six of the city success. ♪

♪ >> we are here on the streets of singapore. this location was for the chinese immigrants were located in the early days. the city'so build

economy. singapore is celebrating its 50th birthday this weekend. a huge celebration, because the city has come from slums to skyscrapers and a very short. of time. an it h as been dubbed economic miracle. some cover the switzerland of the east. morganoday we have stanley's head to give us his perspective. thanks for joining us. you always maintained that the success was based by the need to create jobs, and that would moved. tell us more. >> thank you very much for having me on the show. journey hasgapore's been largely based on job creation. it was driven by important

factors, one attracting international companies, and building the government income. in the process, it is creating singapore's private enterprise. i guess for the next couple of what is important is to create a third leg. : they have been crucial in singapore to economy, have they done well in comparison to private companies? >> if you look at singapore's equity market, it has been about 8% over the last 20 years. been 11% with us. clearly, it is performed equity markets over the long term. -- more delay,

importantly, the short informants -- performance has been very important over the last five years. i think it will be imported over the last five years, and the next couple of decades. : given that they are reporting to the government. >> the most important thing for the next couple of years will be consolidation. as you are aware, there are number of companies operating in the same sector. creationart of the job , having fully met the objective, i guess there is need to consolidate, then internationalize the glp to

singapore as well. i would not be surprised if we see consolidation going forward, which would drive the equity markets as well. haslinda: isn't it also important to look at that strategy? the end goal this time around is different. i was a typical red leg, which is the private sector enterprise. this journey of creating the private sector enterprise probably began about 10 years ago. it is the market and to fight about 10 years ago that singapore has to well over the next couple of decades. alover the last ten years the dollar has driven that. if you look at the more and moreare

incentives for private sector enterprises. these pillars,f singapore has been building up its own private sector enterprises. it will be a wild before we see guess wey, but i believe that it is a high probability we would get there. : a lot of optimism. thanks much for that. we talked about celebrations all morning long. did you notice that i am in national colors, red and white? juliette: looking good. stories making headlines around the world, the 70th anniversary

of the atomic bomb. it was there with the run 100 world leaders and thousands of ordinary people. rang outg out -- bells the exact moment the bomb fell. obama is launched his defense of the iran nuclear deal saying it is critics of the same one that argued for the war in iraq. he said the gig -- fight over ofn is the same group neoconservatives over what turned out to be a nonexistent threat. the child owho organize the killing of cecil the lion has been adjourned.

he said he did not do anything wrong. prosecutors say he was lured oout to the safe area. the man was then told to shoot him. he was wounded by an arrow and finished off with a gun. rishaad: we of the maker behind the biggest car recall a bit later. ♪

♪ now reports of the first half results from tokyo. theair bafgs are part of biggest auto recall for the auto industry. craig, this recall is really weighing on these earnings. to,g: it is difficult covering this company, because one of the things we rely on his analyst coverage. and the company has been in such a mess and this recall has been such a travesty for the company, so many analysts have bolted

from coverage that there isn't a reliable estimate. one of the difficult things about the quarter to quarter earnings results is that the company is more or less pick and choose when it recognizes costs from recalls. it has taken big charges everynd few quarters as opposed to having any sort of consistency of doing it on a quarter by quarter basis. company that set it will be profitable this fiscal year, since it issued that forecast, it has really had continued recalls, more scrutiny the congress, so i guess big thing to watch out for when the company reports earnings is whether or not it takes the pain now or talks it all about how it charges having to take in addition to what is reserved for recall costs this year, and

going forward. rishaad: what about calls to set up a compensation fund? a number of's expenses that will come out of these recalls, just the sheer costs of making these inflator's, and working out who fits the bill, and just how much the carmaker pitches in on that. a big risk for the company was this call for a compensation fund from congress and the u.s.. will notny said no, we do that. they are drawn some separation between themselves and gm. set uppensation fund gm as a result of the ignition switch recall was a unique case because this dealt with an issue that arose before the company went bankrupt, so technically it was able to separate itself from the tissues. also tried to push

itself away from this idea that it needs to set up a fund like gm did. rishaad: quick word on the pressure out of washington. craig: in addition to that compensation fund, you had generally every few months interest in congress that every time the recalls expand a bit the companyve seen increased lobbying spending, that is worth keeping and i am going forward. these recalls are not going away. rishaad: thanks a lot. after the break, four years from the fukushima disaster. ♪

♪ rishaad: take a look at our top stories, bond prices in asia on the way down. they will be moving on interest rates next month. u.s. treasury notes, close to hitting a four-year high. they're shrugging off a smaller than expected increase in u.s. payroll. some analysts are saying the september rate hike is the consensus. almost four times as many people last month as people thought.

the unemployment rate in australia is just 6.3%, but more people enter the market in july with more than 38,000 jobs being added. reunion island wing is from the missing malaysia and airline plane. asian prime minister making the announcement. getting tokyo's lunch break upon us. here is david inglis. david: a lot of earnings in the first fiscal quarter. makers in japan mixed bag as far as results were concerned. mixedreac --a

mixed reaction. overall, alcohol sales in japan are on the way down. they raise their forecast, but notas down to them forecasting a dividend than actually met expectations. a little bit lower than what analysts had been predicting. up 4.5%. shares buyback as much as ¥100 billion/ . moving things along, japan to be one of the big movers here. they posted an unexpected loss, it was about a ¥10 billion loss they were expecting a ¥1 billion drop. toyota is keeping things afloat in japan.

break downy, let me what is happening in the bond market because we're seeing a big decline. we will be talking about this just a moment. declines of the prospect and more banks may be joining anz and raising cash. penciling inng or that these banks may need to increase that capital buffer in light of what happened in the property market. themad: more on that with raising more than $2 billion to meet those new regulatory rules. francis is with me with a look at one of the biggest rounds of fundraising since 2008. why so much more capital this year? : there increased waiting on australian mortgages this year. they decided it would go up to

25%. fromll become a factor july 16 onwards. 2%.increase by that is why they need to raise more capital. rishaad: 11 billion aussie dollar's thus far, it doesn't year that it is shy with the regulator wants. francis: this is only for rick -- complying with the mortgage requirement. the regulatory targets. it was the largest bank, they announce their fiscal program on wednesday. these need to comply with a call they% in capital ratios,

may need to raise and of the 15 billion aussie dollars. looking toam just see if they resume trading, they are since ended right now. what you watch out for, generally speaking? could lift earnings and dividend shares, which is the major focus in the country. these averages of 5.6%. rishaad: thank you very much. let's get a check at some other executivesnks working to turn around fortunes. operating at 8%, missing estimates by 300 million, down 44%. dividend was cut to 14% of shares.

is despite analysts forecast. youth unemployment reaching a 15 year high, that is raising years that the student loan vehicle may be defaulting. doubledrean has almost default funds. there are concerns that loan repayments may not be made. india central bank governor turning up the heat on the government, now speaking to bloomberg tv india. up. muist speed rajan has been under pressure to ease inflation so that iniddia cannot be met the fragile globally recovery. >> it would be good if there could be some progress on this. because that would send a strong

signal that india is on the move. i'm not saying it is not happ ening is a disaster. pace, ands at its own things happen over time. buit the simple point is that this would send a strong message to the outside. it is very important in times of turbulence to send the signal that we are a safe haven. rajan is said to try something that is never been done before. he will restart 25 nuclear reactors which were shut down after the sunol me -- tsunami. joseph,t more from aning a look at -- give us

idea when they want to do it. there are huge challenges. restart willuclear happen next week down in the islands run by electric power. we don't necessarily think that is an indication of further reactors which should come back japan the 40+ that has. you've a huge anti-nuclear movement, the checks and balances are very cumbersome and take a long time. a lot of money has been spent on that. we think it is symbolic in nature, but we would not take it for granted that nuclear power is coming back. rishaad: it is being tried after four years, all sorts of things

can go wrong when you restart. that is what will take more time, because they will check and double check. they have a lot of discussions going on. they do know what happened in europe and the u.s., they will be ultra mega careful. rishaad: this is massive obligations for japan is come online. the country has been importing basically all of its energy needs hasn't it? : correct. some call the cheaper, but it is polluting. those options are really great. the indication is that the cpi down, butbeen coming not a lot, could come down further. inflation could come down. rishaad: another whole issue --

h: exactly, you are trying to reinflate the economy at the same time. that kind of inflation is not a good type of inflation. rishaad: joseph, thank you very much. talking much up and possible plans to restart its nuclear industry. global taste,rule not satisfied with the longest railway. it is opening up new opportunities through speed and security. brad: all aboard the silk rail. this links china's eastern shores to the iberian peninsula, and it carries the very best of europe. as william shakespeare said, sharing is the beginning of fame bottled. spanish wine and olive oil are also part of the products.

>> we offer these products to popular rise spanish culture, and spanish cuisine. after they arrive in china, we find agents to help us distribute them to raise their image. brad: the european link is key to china in its economic development. the only regulatory rail service before ran only as far as germany. almost 13,000 kilometers across eight countries. it takes between 18 and 21 days, but that saves about 10 days in shipping time. root has some extremely sensitive areas, such as the gulf of aden. implication, if these places are destabilize, it will have a negative impact on china's growth. brad: the trade-off is the

price. say that ise might a small price to pay for spanish sunshine in a bottle. you can get more on that just download to a bloomberg tablet or android app. we headed to macau defined at the latest developments for casinos. ♪

♪ juliette: heavy monsoon rains

could negatively affect trains will stop the 25 people were killed when the trains came off the lines between mumbai, it got flash flooding that weaken the tracks. they tweeted that the two accidents were deeply distressing. indian railways carry around 20 million people each day. there were lying on sandbags to protect properties as water levels rise. the floods began after more than a month of heavy monsoon rain in the north. the government admitted its initial response was week. thecies are helping disaster which is affected a least a quarter of a million people. behind the logo for the 20 tokyo olympics has denied plagiarism. critics say it is a similar to something in belgium. they say his work is original and that he never even saw the theaters design.

he is a widely available font while the red circle was inspired by the 1964 olympics also held in tokyo. let's have a look at the slowdown in macau, and the need to following new route. to open in october. it is a roll of the dice, and you von and is therefore us -- yvonne mann is there for us. yvonne: it is a big gamble. slump, caneen in a they turn this around? they're facing some fierce just one out of six integrated resorts set to open in the next year or two. and all morning we have seen construction workers come to sight.--

do you see this as a threat> he says not really. take a look. attraction, it appeals more to a mass-market customer. that we have had from other markets, these are all things that work for us. ne: doesn't 90% of your market revenue come from gaming? how do you drive a different mix of business towards a mass-market, towards non-gaming? lawrence: gaming will always be the financial engine of our industry. without it, we would not be able to build the ferris wheel. our company, we focus on the attractions, but they are there

as an integrated resort element to also attract the gaming business. non-gaming is really there as an additional draw to set yourself apart from competitors. to 300 million u.s. dollars them in the global financial crisis, on a standalone basis, it is not a profitable venture. you will not get a bareback on that -- payback on that. ne: you could have 150 in some casino floors. you said in the past you one 400, are you concerned? lawrence: very concerned. we have been steadfast now buried -- in our request. we hope to be rewarded for our contributions. : ifs five straight months

of decline, is the worst over? lawrence: the worst is over, the costs are getting easier because the market really started falling significantly in the second half of last year. at, macau is going through transitional phase. very the ip, gaming centric market into a more mass-market. it'll probably be a rough second half, hopefully the studio city opening it will be a new jolt to the market. that openingid studio city around this time with a compared to when he opened during the global financial crisis. it will continue to be a struggle, but he is seeing a changing dynamic, especially with the government. they are easing some

regulations, so people can stay a little bit longer. softeninglso talks of the anti-smoking ban on some of these casino floors. he says that to be a big boost. that, forhank you for us in the heart of macau. up next, no relief yet. we had to mom by default -- mumbai. ♪

♪ your back with "trending business." they've clearly lead test another regulator still haven't

, let's cross over for more on this. this is going on and on it seems. >> absolutely. there was so much back-and-forth coming in on this. boost,safety standard which is the food regulator approved laborde torres -- laboratories. they push the stock up nearly 9%, but that was short-lived, because then they said they had not given any clear to neslie's maggi noodles. the press statement rejected findings of the food and drug laboratory. the were also asked about

clean slate, but the authority maintaining that there were noodles,out maggi saying the giants had not shared details, despite repeated requests to do so. let me get our viewers an update on the bombay high court, the company challenged it, the hearing has been going on. it has concluded, we do not have a judgment just yet. a few days after, they are closely watching the hearing as it has huge expansion plans that been put on hold for a moment not just for maggi, but other brands. it would look to beef up its brands, thanks to the huge mess with maggi noodles.

rishaad: thank you very much. let's take a look at floyd mayweather, he is been criticized to this fight next month. some say the opponent is way past his prime and that he is no manny pacquiao. disappointment. we're talking about a serious reduction. >> they will come out with a ate value, but if you look some of these estimates that have come out, we are looking at a tenth of the prices of the manny pacquiao fight. the ticket's look at prices. at the cheapest, we are looking $500, that is in the

secondary market. if you look at the median estimate, a month before the it washer-pacquiao fight just a $2500. ,he caliber of the competition if it to the oddsmakers, clearly the underdog against mayweather. rocky marciano's record ago, was set six decades which might be mayweather's last fight. rishaad: thank you so much for that. that is it for this thursday edition of "trending business." me, and we will recap the day.

aswill be live in singapore this element 50 years of independence. ♪

>> i am john heilemann. >> i am mark halperin, and with all due respect, it was either this or the five. ♪ >> flukes, 24 hours away from the first presidential debate. the candidate with the most on the line will not be there. the fbi is looking into hillary clinton's e-mail system. it could bring about difficult questions regarding her private e-mail server.