, but only sold 53 million through the first nine months of the year. they have started scaling back production. reports apple will adopt new screens on its iphones. they will start using organic led screens from 2018. 2%.isplay gained more than , the close in japan, a slight uptick for the nikkei. here is david. nikkei has had quite a now,pushing towards 18% going back to late september. managed to close above 20000 and hold. hang seng index, 1%.

ine guidance this morning case you are looking to buy property. thinking home prices in hong kong may drop at least 25%. , risingnemployment interest rates, but we have heard that before and it has not happened yet. do we hope it happens? no. we have managed to claw back most of those losses. we are still down. was aning said, there unexpected announcement from the government which has dampened the outlook for earnings. the law firm says it won't have

a material impact. other movers in australia, bhp on the way down. will they or won't they reduce their dividend? will they need to do it preserve cash? j.p. morgan came out with an estimate for what they could do with that dividend. a quick look at other movers there. japan,uppliers in declines. back to you. after private capital expenditures suffered its deepest decline, is this part of australia's rebalancing?

the numbers were certainly pretty awful, down 9.2% for the quarter, the biggest fall since records began in 1989. the economy is rebalancing. it was telling that the biggest declines were in mining and investment, down 10.4%. it was a broad-based collapse. buildingke a look at investment and structures, down 9.2%. plant and machinery equipment investment, 8.4% down. it was fairly broad-based. the obvious question is, are these cuts to the cash raked from the reserve bank spurring non-mining investment. the answer to that would have to be no. there has been a tremendous amount of commentary domestically about these numbers. the consensus is that the country is halfway through this

transition away from the mining boom. future expectations for capital expenditure were up 4%. immediately, the australian dollar has stepped off a cliff, even though it has recovered a third of losses. we are expecting a decline in gdp growth. that is something the treasury secretary has been softening the country up for this week. rishaad: thanks for that. we were check in on some other stories. nickel producers planning to meet to discuss prices. they are considering cutting output. the largest supplier will be at that meeting in shanghai. prices are falling by more than 30% this year. the leading english newspaper confirms it has been approached by a third-party, saying the group is exploring media assets. it is still at an early change.

told that a been signing ceremony will soon be announced. thane has evaluated more one million websites for deletion. have been removed. requests involve links to youtube, facebook, and twitter. the chinese smart phone maker miss its sales xiaomi.this year, xiaomi is a private company. ,hey raised over $1 billion which gave them a $45 billion valuation.

that was a record at the time. that $45 billion by he way should was predicated on the idea that their business model and sales would keep growing at an credible rape. what we are seeing is that growth has started to slow. aomi hadder of xi predicted 100 million phones, then he cut it back to 800 million phones. since them, suppliers are telling us it will not happen. 80 million is out of reach. they are getting squeezed on so many different sides. the business model was unique at thetime come up but five-year-old company came out with this velvet rope approach where they cut out the middleman , not being sold by telcos or retail outlets.

you buy online and it gets shipped to you. that cuts out a lot of the market. they said there would be limited editions, and so you basically have to get in now and not available for anybody at any time. that was the original model. it did well for them and gave them growth. hungry to get in on the action. since then, a lot of companies have followed that model,, with slick websites with nice designs. tos not a difficult thing replicate, frankly. the other side is the macroeconomic environment. china is slowing. the cell phone market is getting competitive. squeezed ongetting many size and that growth is taking a hit rishaad:. rishaad:it's that growth which is behind the valuation. to get that growth, they need to expand beyond china.

that is where the difficulty has been lying, isn't it? >> they are trying to expand beyond china. they have gone into india. india is a huge potential market. they have also moved into brazil, an important market for them, as well as outside of china, but still to this day only 7% of their shipments are areide of china, some 93% still in their home market, and that is a big problem. they are looking to expand and grow bigger in india and elsewhere. that hasn't kicked up yet. ity really need to make sure does happen if growth is going to continue. they are trying to be more than a smartphone maker. they say they are not a smartphone maker. they are an internet company that sells lots of different products online, and that is true. ,hey have their fitness tracker air filters, all sorts of other

products, but they are really thedoing the volumes that smartphones are doing. that is what they need to do, go be on the smartphones and get these other products out there. rishaad: thanks, tim. let's take another look at the world of tech. enter theet to fiercely competitive mobile payments market in china with the deal with union paid to introduce apple pay. to introduce apple pay. it would be a very big deal if it managed to check all of the boxes. we are still waiting for confirmation from the company. we have reached out to apple and union paid in beijing. -- pay in beijing.

they are still waiting for data from the big four. that would be crucial given the necessity of linking up credit cards and accounts to the apple pay service. what goes ahead, this is apple would get in terms of benefits of partnering with union paid come over 5 million to process payments using apple pay, i $3.5 trillion market. it is growing rapidly. $3.5 trillion market. it is growing rapidly. union pay is an influential partner to have because it has a monopoly on the card and payment settlement services sector in china. hurdles toegulatory be cleared, but at this stage this is looking hopeful, and in fact there are some sources saying that apple is hoping to push it through for the retail season for chinese new year next

year. rishaad: tell me something. apple goes in with its head held high. with itstrasts hardware in the chinese market. a bright spot for apple, shipments up 90% for greater china in the last quarter, but the payment sector is a very vibrant, but also extremely closely held by a couple of major players. 83% of mobilels payments market. 10%, so there's not a lot of market share. they think the brand recognition will make people want to get on board.

the other interesting thing is that we could see a collaborative effort because of open to auld be potential tie up with apple in the payments area. "it is a marriage that both sides want." rishaad: let me tell you what we have coming up next. is,re looking at, here he the activist investor being investigated for manipulation by japanese authorities. we "trending business" have the latest win "trending business" continues -- we will have the latest win "trending business" continues. ♪

check marketick wise, a rally at the moment. all this happening ahead of the

thanksgiving holiday in the united states. crude oil maintaining gains. the australian dollar having a bit of the retreat. look, a flatving a market. index nots times playing ball with the rally. hong kong, let's look at what is going on. equity benchmark rallying from one-we close. the company saying it will sell its stake in a pipeline company, helping its shares in hong kong as well. 25, a bit below that psychologically important level. the morning close, up by over half of 1%. japanese regulators investigating a former trade ministry official with

manipulating stock prices. home, andearching the that of his daughter. asia stock editor joins us now and is tracking this from tokyo. what do we know and what is the latest? thatat we know so far is the securities watchdog started an investigation yesterday into suspected market manipulation, stock prices, by the activist investor. some reports and local press giving a few more details, like one of them mentioned that one of the -- and talkedlved about the suspected use of a shortselling technique to manipulate the stock price of that company. and weuite a big story

are watching the developments in tokyo. somead: what about background on this man? how is he viewed in japan? >> he is quite an interesting character. he was originally an elite trade beer cracked, and he became the first homegrown activist investor. $4 billion atof one stage. he was an early champion of shareholder rights in japan and pressed companies to return more money to shareholders. in 2006, he was arrested for insider trading. he was sentenced to 22 years in prison. that was suspended on appeal and he went silent for a while, and then he came back in the market. in terms of how he is viewed, it is mixed. --ruffled a lot of fathers feathers in terms of the japan market

leaders. the share of companies he owns fell on this news. rishaad: thank you for that. the stories making headlines. taiwan's ruling party finalized its ticket for the election. suggest they are facing defeat to the opposition democratic progressive party. the contenders are expected to register on friday. the deadline is january 16. a bushfire in south australia has killed two people and left 13 hospital, critical injuries. flames backed by strong winds burned through 90,000 hectares. hundreds of firefighters work through this night to contain

that far. it could burn for several days, and reinforcements are being sent from victoria. 2015 is turning out to be a year to remember. warming and a strong el niño will make this the hottest year on record. the past 11 months have been so hot that the year cannot fail to set a new mark. world leaders meet next week in paris to discuss i'm a change. they will discuss the fact that the earth is halfway to being two degrees hotter. month, that is how much time the italian prime minister has to get his reforms back on track. we are headed to mumbai next. ♪

rishaad: the european central bank sees the potential for rising risk in asia. the report says emerging markets may see a rapid repricing of risk. the bank raising its risk assessment level for instability to medium. the new monetary policy has pushed asset violations high. rebound,e starting to inching above $43. explores idled more drilling rig's. stockpiles rising 488 million barrels, despite rigs falling to lowe's. -- lows. >> the next quarters will be tough. day whenlementation the iranians come, putting more

oil in the market, but one year from now we will see the end of 2016, 2017, that's when the oil markets in balance. part of the question will be what happens to those big cushions of 3 billion barrels of inventory out there. >> the indian prime minister's reform plans have barely got out of first gear with opposition from political rivals and his own party. today, another chance to get his program back on track. we are in mumbai. salesstart off with this tax. why does the pm think it is so important? the issue will be taken up in the winter session in parliament. session,tormy budget we saw no is this being transacted as the opposition and

government have clashed on crucial issues. could be the goods and services tax or sales tax. the unified taxation system intends to be a comprehensive indirect tax on manufacturing and consumption, goods and services. taxes are being levied at the moment by the central board and state government. --has been heldl party meeting was yesterday to which the prime minister made a brief appearance asking the opposition to push through the crucial vote. they could have water down the list of demands from eight to three. this could mean we see some breakthrough today.

we are starting at 11:00 a.m. today. rishaad: thank you for that. referring to a storm in a teacup, what is this? upthe government is lining 19 bills in this session of parliament, and will see 20 settings of parliament as the potential of political climate. inflation has been on the upsurge. essential items have surged 100% in terms of price on the back of an agrarian crisis. you are seeing a climate where more people are coming forward and talking about political intolerance and religious intolerance. , thee middle all that government trying to push through these crucial bills. rishaad: thank you so much. joining us from mumbai. this is it for this edition of "trending business". angie will rejoin me as we recap

the big stories of the day so far. ♪

>> from our studios in new york city, this is "charlie rose." charlie: mike morell is here, the former director of the central intelligence agency. a global travel alert was issued for u.s. citizens. the alert warned that isil, boko haram, and other terrorist groups may attack. today, turkey down a warplane, vladimir putin called it a stab in the back.

as