steps in when it doesn't see what it likes -- doesn't like what it sees. at least 17 dead and hundreds wounded, and how long it may be out of action. includee on twitter and #trendingbusiness. thee are watching all about yuan once again. we have seen asian currencies hair their commodities. we are seeing some gains coming through in the chinese sharemarket. it was down 1.1% yesterday. just in the last 20 minutes we have seen a pickup in the shanghai composite. let's have a quick look at what is driving some of those gains.

the big story id thre -- is the yuan. still a little bit of weakness coming through from other companies. .6%. we have seen some gains coming back into the other markets. especially with those commodity prices. just with quickly mentioning, it is pretty flat at the moment. shery: shares in australia they get telecom provider have slipped. 1%, revenueown growth for mobile also fell. he joins us from sydney.

good morning and thank you so much for joining us. breakdown the results for us, how satisfied are you? where do you think you could've done better? your shares are falling today. >> good morning. look at our business, there been a couple of changes in our business. last year we own a mobile phone company in hong kong. looking at the underlying revenue, 6.6%, and at 4.5%. particular strong point within those results with the mobile business, which is about a $10 billion business. that grew a 10.2% over the year. business, which is growing at about 20% for three straight years now. shery: everyone was so focused on your mobile business because you are now holding over -- handing over the cover network. what is your strategy for

competition, given that you are the competitors seem to be catching up? warwick: on the mobile side of things, we stand for network leadership giving our customers a superior experience. we announced further ask -- investments. briniging 4g out to 99% of the australian population and building another thousand towers. valuetinue to offer good and our pricing packages. it is important, we have introduced australia's largest wi-fi network. havee first month we 65,000 customers using that.

shery: they're described asia is part of their strategy. what are your plans after buying out pack net? it gave you a very large undersea cable capacity. anymore deals in the works? warwick: we are certainly looking to broaden network applications in asia. we are very pleased with the pacnet business and are integrating at the moment. good traction from our customers post that deal. shery: please go on. arwick: within asia, we offer a variety of services including cloud and management services. andy: you mentioned cloud,

technology services, what are your plans on that front? that could be a frontier for growth, couldn't it? warwick: so, this year we grew in australiathem with our large enterprise customers and small to medium well in asia. as well as cloud, we do manage servies which helps us. on top of that -- we are providing. shery: what are your plans? i know you raised dividends. our dividendaised three times in the past two years and announced today a

15.5% dividend which rings the overall up to 30.5%. shery: thank you so much for joining us. warwick: capital initiative. shery: joining us there on the latest. in other news, computer maker lenovo group tumbling. -- zeb can break down the numbers for us. whammy,has a double with the chinese market slowing down and an ailing pc company. they will/5% of their workforce and the more closely aligned to the mobile market. most companies in china have moved in that direction.

it is focusing its mobile efforts away from the chinese market. they say then seen some new players behaving irrationally in the chinese market. it is slow going, one bit of good news, the profit decline wasn't as bad as some expected. down 51% to $105 million. we watched that very closely as the company works to turn around its business. it's toughest quarter since 2008, still much work to be done. they will be slashing 3000 nonmanufacturing jobs they expect that will contribute about it billion dollars annually to the bottom line. bonobo shares under pressure -- lenovo shares down today. whether or not these come with growth plans is one of the major

questions. shery: let's now take a look at some of the other stories we are watching this morning. here is david, with a roundup. david: let's start things off and australia. a big change at the top during the earnings announcement. james packer announced he is stepping down as chairman and will be replaced. people still -- he will still remain the majority owner. they own the two casinos in the city of dreams. he will also remain cochair of their project in vegas. how shares are doing -- down 3.5% lower. can you show our viewers what it is doing? i believe that is down last time

i checked. let's get back here in hong kong, should we -- let's talk about alibaba first. shares were down overnight. we are now under $74 for the first time since that peak last year. numbers, perhaps trading and proxy, sales growth has slowed substantially. if you compare that to the average for the previous 12 50+% there is some -- the over what saturation of the business. they're pressured to look elsewhere, which they have been

doing. shares of loss to collectively $100 billion u.s., that would be the largest destruction of shareholder value globally across any stock. let's talk about ten cent now. that might change. shares are up the most in a month, 5%, as much as 7% at one time. profits surged 25%. roughly $1.1 billion is how that translates back into the u.s. currency. you look at better margins for tencent which brings to things like pricing power.

watch this race, not an apples to apples comparison, but the two dominant names when you consider chinese internet space. tencent spend over $12 billion in deals over the past two years. message, and qq, reach in and reach chat. let's go back to stocks, not a big difference over the past 12 months. flow, now, if you were onpick one, and you based it consensus ratings consensus h -- advantage. a slight

overly bullish on both stocks. a little bit more of an edge. let's leave it there. yuany: coming up, is the devaluation a step towards reform? our interview who says it is the beginning of a new era. after this short break, our next guest says why he sees depreciation as a sign policymakers are getting worried. "trending business." ♪

shery: china's third day of devaluation or the yuan. welcome to the program, what is it now?

as a depreciated more than 5%? >> it is about then since the first day of depreciation. shery: after this intervention beside yesterday, what are chinese authorities trying to tell us? arthur: if you look at the official statement based a it is a one-off. but in the details, it is part of the reform program. the financial system, they want to make it more market driven. it should be a positive thing for china, because it is more driven by the market. shery: we look at -- are we looking at structural depreciation? arthur: i don't think so. people said there was a currency war, but if you look at the number it will not help china

significantly. i think before that it would be a disaster for the region. i think there was more going to the market, and that is the base of the market mechanisms. shery: how much with us help their exports? arthur: the value added through depreciation is quite limited. i don't think it will have much, and adding that, they ahve increased -- have increased, so it will not help. shery: given the had to intervene, is it a possibility that they might just have to give up this new mechanism for fixing? or will they just keep intervening?

perfect.t is not i think the market is soft biggest expectations are not there. i thjiink giving it a few days more the market will stabilize. the marketgood for sprint. -- participant. shery: we are also keeping an i on carry trade. will the impact be? maker: i think these will speculative currency will be my estimates based on the depreciation's of other currencies, probably there will be a few percentage points off of depreciation. shery: double push more cash out

of the country. we see this already happening with southern yields jumping. how will they replace the cash? arthur: some people argue that is a significant capital output because of the slowdown in the growth of their already. but in the details, it is a compound that -- that is not so etgnificant, unless the marka does not believe there is any structural depreciation. exporters, it is too early. shery: they will hold off. thank you so much arthur lau, head of asian fixed income.

>> the malaysian prime minister is being sued over the hundreds of millions of dollars found in accounts linked to him. usedsaid the money was during the 2013 general election and a 26 times them amount he would've been able to spend. last month the wall street journal came from it an indebted fund. wikileaks founder may be close to ending his standoff in sweden, he has been avoiding extradition for three years. dropped two ofow the charges due to the statute of limitations. u.s. also wanted in the fopr spying.

hillary clinton will over -- hand over her personal e-mail service after months of pressure from investigators and political opponents. classified -- they say classified information may have her sent th roug -- through server. about the same number that were personal had been deleted. next, one of up china's major ports is rocked by violent explosion. we look at how social media has responded after the break. ♪

people areeast 17 followingo be killed a fire that could have involved chemicals. the national earthquake bureau does the last was the equivalent of tons of tnt. of course, this disaster is making headlines on social media in china. been: obviously, we have tracking a lot of these

comments on chinese social media. let me get to one, it appears he or she was in the area. some didn't even have shoes on and ran down from the 10th floor. people with blood were taken to the hospital. i am sure there is not enough, i hope there is enough blood. this appears to be an eyewitness report. walls and glass are broken, hald friends weret 11 asking if this was an earthquake, and explosion, or war. we all woke up to all these

images, and my heart sank. accident.ragic it is not clear how much of the port will be put out of action, for for how long. how important is tianjin port? >> extremely important. it serves as the major importer and exporter. it is the largest in china. have had their own major disasters. seeing know now, we are a statement from petro, china, it has its fifth largest refiner

there. the company sees no immediate impact to the just takes, that this report is a key handler of iron ore. shipped intof cars northern china come into tianjin. 10% in 2014, 89 million tons of coal. thanks for that. we have more coming up on "trending business." ♪

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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. ♪ china'selcome back, currency has fallen for the third day. the offshore yuan has regained some of the losses. a new fixing mechanism is being unveiled. they intervened late yesterday when the yuan fell close to its

2% limit. lenovo fell despite profits beating estimates. quarter wasor the $105 million compared to estimates of 71 million. that despite a drop in computer shipment. they delivered strong earnings to beat estimates, they saw profits rise 13% in the first quarter. itstel reaffirms yearlong outlook. juliette: thank you. it is all about the yuan sinking once again. china is willing to

do whatever it can to stop this. thae benchmark closed at its levels -- lowest levels since january. we are seeing chineses tocks trading in hong kong making up some of those losses. in shanghai, some good buying happening there as well. then of course we are seeing th doingr major markets well on the back of big moves coming through. if we do have weakness coming be concerned would about the devaluation of yuan and could see some pullback in mining. you mentioned look noble -- lenovo still under a lot of

pressure despite that its profits beat estimates. compare that to stub hub, another telco company doing quite well. encouraging to see a lot more green coming back. we have breaking news out of china for the pboc is holding a reefing -- briefing. of course, that is after lowering it by 1.6% following a 1.9% cut on tuesday. the yuan seeing its biggest plunge since 1994. speak to our

correspondent who is joining me now. what does the pboc mean by normal movement? >> perhaps they are signaling that this will not be an open-ended evaluation. yesterday they intervened in the markets as we know. maybe the is a line in the sand that they have that they're willing to allow it to be evaluated with certain extent but not too far. of course, this is having a huge impact not just in china, but across the region. \ tell us a little bit about that. asia it is reveling around -- riplpling around asia. course, vietnam responded by

widening the trade demand for its currency and underpinned the blame directly on china. the weak currency will definitely pressure the exporting rivals. we might see some tit-for-tat in the coming months. could the bank of korea cut interest rates because of this move. they did not, but what kind of action are we asked acting? -- are we expecting? an interesting example. ofy have to be mindful capital outflows, otherwise the currency can get weaker. that a a balancing act lot of nations in asia have . that is why devaluation is a dangerous game. shery: what's interesting to me

is that two weeks ago uber talking about currency wars because you were seeing new zealand, australia, kind of backing off. now you see all of this happening again, could there be a risk of a new currency war? revises the narrative, of course it does. if china continues down this path it will hurt rivals/ . they will want to weaken their currency. we are in a watch and wait mode. they cannot cut to much of themselves. risk.ia is already at it is a perfect storm for the asian central banks. shery: thank you for putting

this into perspective for us. the yuan, for three consecutive days and has lowered. a monthby the most in itsr the company increased stake in spring. currently owns 80% of spring. --sprint. snage's bailout has hit a with germany withholding support. that narrows the timeframe as euro zone governments must approve the plan before releasin g aid. the former finance minister told the bbc that the bailouts won't work.

southeast asia's biggest telecoms provider beat estimates. increased competition brings new challenges to the company. telcom industry is undergoing a lot of challenges. competition is not just a convention. increasingly, from the top players, we lost a lot of our revenues, voice revenues. a big challenge is transforming our business. as we look at increased competition in singapore whether from an operator or mobile networks, we have to make sure

we do more of what customers like. meaning, giving them high speeds, great connectivity, great service, innovative products. in sh ort -- short, don't give them an excuse. >> we are talking about a mature market, most people already have two mobile phones. what is in it for current players? used hasbile has changed significantly. internet,about mobile not only use it to communicate, it is also for work, all your e-mails, and entertainment. >> are you saying there needs to

be a shakeup in the industry? >> basically, you need to have the best quality networks. int -- is a very capital-intensive business. if you look at what we have spent, delivering the fastest speeds that you find in this region. all of that costs significant expenditure. definitely scaled economies help, so this is not a competition that we had where it is only amount service. >> you're exploring other ,ptions, some say that perhaps you know, you ar eree -- are reeling from it.

what is your take on that? wereny industries significantly impacted. we need to see how we can use the efforts we have. if you look at new businesses, mobile advertising, that is in the marketing phase, you can see that replacing traditional advertising. we think we can play there. analytics, at data that we no--- know-how have, in how they do marketing, and the use of resources, all of that lavishes on what we have. for furtherooking

acquisitions? >> it is always a run giving us access to technology, it some build-to-buy, giving us access to the markets that would take some time to build. we would critically assess what would make sense for us. >> operations around the region of always been susceptible to volatility in currencies. given what is happening now, that currencies have been, and the yuan depreciation, how concerned are you? >> it could have a significant impact on our numbers.

over 70% of our earnings come from singapore. we do have investments across different countries. so while the singapore has weakened, some of the regional currencies have weakened, or risen. we do have treasury operations that make sure we hedge foreign exchange exposures. the translation of difference would be something we have to manage through portfolio diversification. >> so it is something you are prepared to overcome. >> i think it is something we have all had to learn to manage. shery: coming up next, bagging a

bargain. a special report on the rise of chinese tourism. ♪

david: making headlines around the world, jimmy carter has been diagnosed with cancer. after leaving90, office he founded the carter center. he is the second oldest living president in history. independent cabdrivers are taking on uber demanding a playing us level playing field. the cab has undermined their income, according to them.

driver's say the value of their medalions has plunged, making their retirment at risk. isry: the prime minister expected to use the phrases apology and agression. it has been a source of tension and neighbors. tourism and educational ties between japan and china are thriving. are you willes spot a chinese tourist. >> we wanted to experience a new culture. >> firstly but the suitcase,

that were about to go crazy. goods, for a mi llion -- four million people expectedmainland are to visit japan this year. . they are also taking advancate of a weaker yen, the governmetn has been quite welcoming. shops here are quite accomodating. while tourism is booming, the 70th anniversary of japan's world war ii defeat could open old wounds. diplomatic ties are showing signs of a thaw. >> i don't have hatred towards

japanese people because we are too far away from that generation. now, i think we are more accepting. yvonne: it is rare to hear chinese being taught in the classroom, but these seem to feel the need to master mandarin. >> if i decide to work him myught -- abroad, i think chinese may be useful. yvonne: for now, classes are enrolled, but the school expects to grow. >> i believe chinese and japanese understand each other. those that attended china have a better understanding. same as the mainland chinese people were been to japan.

i think this lack of communication. yvonne: a foreign-exchange that could travel between two nations coming to terms with their own past. shery: let's go now live to yvonne in tokyo. do they see any hope for better relations? yvonne: you heard from the people we talked to in this story there are signs of enthusiasm. there is hope this influx of people could help build a better reform, possibly even de-demonize china in each other's eyes. was injured a dad pan -- in japan for the first time. he wanted his son to come see

them. don't get me wrong, old wounds still take time to heal. this war really left scars between the two nations. more than 85% of people from these countries still of negative opinions on each other. not to mention japanese tourist heading to china, those numbers continuing to fall. dropping 26% since want to 11. time will tell, but we will be watching closely the prime minister's statement tomorrow. will he follow in the steps of his predecessors and issue an apology? thanks. we will join you for the details tomorrow. reporting from tokyo, coming up the economic reforms hitting the parliamentary roadblocks. we're live from mumbai when

"trending business" continues. ♪

reinvigoratean to the indian economy is on hold. let's cross over in mumbai. what does this mean for next april's deadline? >> today is the last day of this session of parliament. devon dropping accusations that the external affairs minister has been misusing her funds. it will simplify, and reduce taxes. this bill has been in the works

for many years. there is hope that would be medical consensus to push the bill through. but the political leaders in the upper house, with today being the last day of the session it looks like that deadline is unlikely to be met. this is a constitutional amendment which means it will need the approval of a two thirds majority. debate what is worse, some other bills which have taken up just one day of debate will stop. ony will take a call whether or not to extend the session of parliament. it seems liek that is hanging in the balance. shery: thank you. oday's episode of high

flyers, property development in china. makes this company stand out? much fullyery integrated. we are running a property company that services our clients. a are a broker, also concierge service. basically we are looking after our client. oury: you can ca -- catch full interview. that is it for "trending business." stay tuned.

theyuan the big story of day, they are cutting. that is it for "trending business." ♪

mark: i'm mark halperin. john: and, i'm john heilemann. "with all due respect" to that "vanity fair" story about tinder that has everyone all fired up -- ♪ john: not that i have any idea what tinder is. mark: it's a web thing or app. john: internets, i don't know. happy national julian fries day. tonight, a doctor, a lawyer and a monster. first, the server. after months of saying she will never do this, hillary clinton is handing over to the fbi her infamous private e-mail server and one thumb drive with copies of her e-mails. an inspector general for the intelligence agency says two e-mails contained top-secret information.