mark zuckerberg and his wife will give away all of their fortune in celebration of their baby daughter. he says that society has an obligation to invest in the future. follow me on twitter. that is my handle. having a look at what is going on. traders on lunch break in tokyo. some negativity and sentiment creeping in. toit has gone from mediocre worse over the last half hour. that is for mainland and hong kong markets. we were looking at gains earlier on. that has been pulled back entirely. chinese shares falling for the first time in three days. move for thegative

nikkei 225 as well. gainers whene good it comes to the japanese markets. one stock we are focusing on is sharp. there is information from a japanese newspaper reporting that innovation network corporation of japan is considering buying a majority stake in sharp. that would spin off the lcd operations. it was a stock on the move earlier this week because there were rumors that there was interest in buying the lcd unit. that rumor was not entirely without basis. some gains on the back of that. the unitedxtra for states auto market. buoyant gain for the u.s. auto market. we talked about gdp earlier, but

overshadowed. off.ervices in particular that entire energy sector falling in sydney. a quick look at how we are sitting in terms of the commodities space. from copper,covery but when it comes to crude, that fell again overnight and is continuing to decline. that is what we are seeing across the region. the australian dollar, we did see gains as we had that gdp beat. it hit a six-week high against the u.s. yesterday, so some weakness in today's session. rishaad: looking at what is going on in australia. expected gdp figures, positive signs of a strengthening economy.

right, theyson is are essentially making that transition away from mining? >> that's right. the treasure did make some interesting comments. he is doing his job by welcoming this result and talking up the implications of it. austriain terms of transitioning away from the end of the mining boom. it outstripped expectations of 2.5% forh and giving an annualized figure. it was not entirely unexpected. the second quarter was flat due to poor weather and port closures along the west coast of australia. now filteringsis through on this result. capital economics says it is not as strong as it looks. they sate net exports aren't

sustainable and domestic demand is contracting. encouraging,ere but results remain uneven. the transition is happening, but it is an ongoing work in progress. it vindicates the decision to stay put yesterday. rishaad: thanks very much indeed for that. with what is going on there with those growth numbers. there is life left in the austrian economy. other stories following you for today. >> we are not seeing any reaction at the start of trading. theseget started with

developers from the extraordinary shareholders meeting. this company went through fairly hight profile debt. -- high profile debt. the vote was 96%. that being said, to new executive directors, including resignedr ceo, effective yesterday, of the largest cement holding. there we go. i would be more surprised if it , flatlinedrading since april. this get to an update on currency rigging scandal that

has gotten global regulators among others gritting their teeth. what do we have? early christmas gift from the swiss watchdog issuing penalties to those found involved. as many as seven traders from ubs are potentially the first group of individuals to be punished. current and former employees. downeaviest penalty handed is a five-year banned from the swiss financial services industry. , data ontch to cars u.s. auto sales for november were released overnight. straighted, third month, there we go, industry-wide sales topped $18 million -- 18 million vehicles. you have to go back to the early holiday season to find cheap

rates, cheap financing, cheap oil. they are beating estimates. some, not all. some u.s. brands were less than robust. gm is enjoying the highest sales. 230,000 roughly. fiat chrysler, 2% gain from last year. winners were that japanese and korean car brands. investors not exactly popping open a bottle of champagne. 3.4% for of at least nissan. honda going against the grain. 115,000 vehicles sold in november. numbers are closely watch, 25

percent drop their amid the crisis they are trying to get themselves out of. back to you. having avolkswagen is difficult time in the u.s., dropping 25%. it hadmaker admitted used software to cheat on image and test and stop selling those vehicles. it doesn't look like south asia does lookfected -- it like south asia will be affected as well. volkswagen is recalling more than 300,000 cars in india, including skoda and audi. they found in missions were greater than permissible limits. tests showed significant variations between the on the testst and laborde tory -- laboratory tests. they will include a software

update in the fixes for the cars. monthsbeen more than two since the scandal broke in september. so far, pretty quiet from volkswagen's owners. chairman,ermany, the the majority shareholder, will address workers at their headquarters went in germany. the labor leaders have asked owners to speak to him ahead of a two-week halt in production in the factory in which the workers will not be putting out any more cars to avoid a buildup of inventory. it is both slackens largest factory, but there could be a struggle if sales continue to slide, a 25% slump in the u.s. the labor leaders are hoping they can work with the workers. looking atre

singapore's efforts to boost spending by business travelers. it is on bloomberg.com/asia. the economy growing faster than anticipated. we will dissect those latest figures when "trending business" returns. ♪

rishaad: signs of life in australia's sluggish economy with better than expected gdp data. let's get straight back to sydney for more on this. thank you for joining us. good numbers. the reserve like bank stance has been vindicated. , upooking pretty solid point nine quarter on quarter,

bang in line. uswould caution that the trillion dollar is extremely volatile and has to be interpreted carefully and sensitively. i don't think we are out of jail yet here. rishaad: indeed. what about the current quarter, data next, employment looking good? capital expenditure and business investment, another horrible number. >> absolutely. it is quite patchy and said he needsso i to be interpreted cautiously. we strongly suggest putting the strong third-quarter result of , thegether with 0.3% economy is running at a .6% quarter on quarter, or .24%

annualized. a guest i had yesterday said that it needs to become cheap. 73, and itnt it is looks like fair value, but to sort out the problems with the economy, it has to go down further. what is your view? commodityoking at prices, trade, and differentials, we put it at 70 or a fraction below. it does need to edge lower. australian dollar is adjusting to the change in commodity prices. on a 12-month year, that statement is correct, the australian dollar and commodity prices have fallen, but over the last month or two, that

australian dollar has edged higher against the american dollar, so the headwinds are still there. rishaad: it's odd that you mention that. the language of the reserve banks has little by little been changing, hasn't it? i know you have been looking at it closely. >> absolutely. that the governor has been talking things up a little bit, and that is completely understandable. one of the key ingredients missing in the austrian growth absencentinues to be an of animal spirits and a pickup and non-mining investment. the government was telling at a speech in sydney last week -- governor was telling in a speech he gave in sydney last week. theink that they believe economy needs to pick up in has a spirits, and there

small incentive to top things off a little. thatad: we have this story house prices, which have been on an absolute tear, are edging lower. quite a deep decline in sydney, melbourne, and other big cities. what would be the likely damage done to the economy as a whole? >> it would undermine sentiment a little bit. i think we would have to put modest potential declines over the last couple of years and think it would not completely undermine consumer sentiment, but we have been watching the sector very closely. of the heatat some is coming out of the housing market. negative building approvals are starting to top out. we are confident that the housing sector will be overibute less to growth the coming 12 months than it has done over the prior 12 months,

unfortunately. that is a bit of a headwind for the austrian economy to get through. rishaad: absolutely. overall, do you think were going o be out of the woods -- [no audio] >> -- our regional views as well. economists and strategists across singapore, hong kong, and tokyo. gdp next year. a good numberor in china. australia'sies are largest and third-largest export markets. numbers in the middle at two. it is coming from a poor base, and a technical recession with negative growth in the past two quarters.

headwinds from the external side, and the strain dollar looking a bit high, so when you put those things together, it is too soon to take great cuts off the table here. rishaad: andrew, thank you for finishing on that note. at storiesa look making headlines. the united states announced a -- exposition are expeditionary force to step up the fight against islamic state and ron -- in iran. they said special forces would conduct raids, free hostages, and target militant leaders. washington says the allies in the middle east must do more to help. >> we are in their swinging. and we need more in their swinging with us. that applies particularly to those countries that reside in the region itself. away, and we way

are concerned and doing our part, and they are right there. mayor has fired the city police chief after the release of a video of a white officers shooting a black teenager 16 times. become anat he had obstacle to rebuilding public trust. the officer was charged with first-degree motor -- murder over the shooting, some 13 month after it did happen come on the same day the video was released. smog in beijing has improved a little. real-time data from the u.s. embassy says numbers have fallen from 600 plus on tuesday to around 25. beijing environment authorities say this week's and garment of pollution has been the worst of the year so far. zuckerberg's

multibillion-dollar promise to his newborn daughter. find out what it is. "trending business" returns in two minutes. ♪

rishaad: a look at mark zuckerberg as he celebrated the birth of his first child by an ounce and that he and his wife

will give away to 99% of their stock in the company. valued about the current of the shares he has promised to donate to good causes. $45 billion in current value, which could get higher. is about equivalent to the bill and melinda gates foundation. ark zuckerberg started young. bill gates and warren buffett started later in life. this is a huge move by mark zuckerberg that will set the precedent for other wealthy people down the line. >> if he is giving away his stock, what is it mean about his involvement for facebook? >> key will maintain voting control. he is only giving away a billion dollars for the next three years, but what it does mean is that he will be spending a lot

of time vetting these projects. it is not that easy to give away $1 billion a year. you have to find the best projects from the people who will make it work. deal with education, health care, all big things that he will have to tackle in addition to the growing concerns of facebook itself, spreading internet access, virtual reality. large ands becoming complicated, so it will be interesting to see. rishaad: that zuckerberg story has been making the rounds on social media. we have a look at that and what else is trending. does mark zuckerberg have the most likes? i would imagine. >> that letter has 87,000 shares alone. it was shared on other social media platforms. a lovely picture of he and his

wife and their new daughter. there have been many comments from people on his days per page. your gates saying as for decision to give back generously , the phrase that comes to mind is wow. bill and melinda gates have their own foundation. every click earning more money for facebook. i think clicking helps. watching what's being is having aifa crucial meeting on deciding where to go as far as reserves -- reforms are concerned. these five sponsors asked fifa to come up with a list of things

you need to do, but it includes independent oversight that will bring back credibility and make sure that their money does not go to waste. wee is one part of that p encourage you to become the champions of this independent oversight. fifa's basically help credibility. good for them. back to you. good.d: very right, ok, next, china's failed investment as the country counts down the start of a new five-year plan. this is "trending business". ♪

rishaad: a look at our top stories. the economy grew faster than expected in the third quarter, -- gdpe expanded expanded from the previous. . they'll strain dollar did help exports. australian dollar did help exports. india's biggest ever recall, 320,000 vehicles. it includes skoda, al did, and

vw. -- audi and vw. sales in the u.s. plunged by 25% in november. an unexpected contraction in u.s. manufacturing as the fed meeting is coming up on the 16th of the month. meanwhile, chicago fed president said he would prefer high inflation before rates are lifted. off its morning session and tokyo, just a general flavor of what is happening out there. the general flavor as we head into midday, a little confused. the nikkei is lackluster. take a look at shanghai. we were down half an hour ago or

15 minutes ago. now up by almost 1%. hang seng coming off those session moses well. we did get a sense that perhaps the ramp up in some of those sectors in shanghai, property, industrial, may have been overdone and may require more easing from the pboc. volumes are still very low, 30% below the trading average. trade in the mainland markets. i want to talk about the worst performers in china, industrials and property developers, but also a number of environmental related companies trading down. industrial production,

innovation, environmentally friendly technologies, and were seeing a selloff and these stocks as the air quality starts to recover in beijing. we talked about the beat on australian gdp, it hasn't lifted sentiment. it is the commodity slow down story that is weighing on sentiment, brushing off that beat on third-quarter gdp. oil and gas and energy, the miners, iron ore hits another --ord low, but oil services talk about what is driving that. take a look at the austrian dollar, a little bit of a gain when the gdp number came out, but also weakness now. the austrian dollar did hit a high against the greenback

yesterday, so weakening today. ahead ofok at rent that opec meeting, betting that there will be no change in output. brent is continuing to weaken. they're dropping those inventory numbers in the u.s. later today, expected to show some support in terms of a decline in u.s. stockpiles, but the good news story for commodities is that we could be looking at a bottom when it comes to copper. that is extending gains into the asian session. china cutting production, as well as u.s. construction picking up. that could effect demand. rishaad: 2015 is on track to be one of the best years ever for automakers in the united states. and nissan are the

--gest winners, but honda our senior analyst is with me now. -- nissan until yada and toyota? >> they have a full suite of suvs and pickup trucks. first-ever from an asian truckker, a medium duty in the united states. there's a big shift, gas prices are cheap. they are gaining market share. rishaad: they are winning. who else is winning and losing? notta saying they will spend as much marketing their, but is that because they are in a different product cycle? honda's pickup truck offering is not as good as toyota and americanut you see the income it automakers, there

sales were decent as well. their sales were decent as well. they do have a big base in terms of pickup truck offerings. honda and ford, maybe they're not offering as much incentives as everybody else is. rishaad: how much of this can be maintained? we do have the possibility of the fed hiking rates. are the people rushing into the car dealerships ahead of that to get cheaper finance? >> sales are about 18.2 million cars on an annual great in november. that is about the same as what it was before the financial crisis. at this trajectory, we probably see that it goes above that in the next couple of years. --n you look at the next

past two cycles, the length of a cycle is 3-5 years. like you said, there are headwinds. the fed raising interest rates will be more cost to the consumer, but the other headwinds we are focused on is what you talked about earlier, which is the industrial manufacturing economy slowing down. it employs a lot of people, a , a lot ofomakers people within the auto plants, so that is something. rishaad: thank you very much indeed. let's check on some other stories we are following for you. airways does not expect to see fallout from a reduction in the air safety rating for the country. it does not meet international standards, but they are trying to reassure passengers that all flights are operated with the highest level of safety.

the chinese internet security nearing a sale. the wall street journal saying the industrial group is offering to pay $9 billion or $77 a share for the company. they say the buyout may be completed within the week. it would be a 10% premium to tuesday's close. shares rise over 3% in new york. unfortunately, in q mobile win in the other direction, down 15 q mobile went in the other direction, down 17%. , up to 112dance million dollars, so well shy there. blamed lower hardware sales for that shortfall. an amazing level of investment abroad the last two years, record level last year, but

maybe a third of that may be wasted or in trouble. what is going on? >> i have a lot of numbers. rishaad: you do have a lot of numbers? >> i like fax. china spent $631 billion on overseas deals. he does mention that record last year, one hundred $23 billion in deals. that was the first time there was more odi than foreign direct investment into china. sayingmier out last week that a globally-focused china will spend $1 trillion in overseas investment over the next five years. new studies are showing that about a quarter of that amount that trillion dollars in overseas investment between 2005-2014 run into trouble.

-- has run into trouble. dollar outthat, one of every three dollar pledged or, has gone sour. that includes government officials who wish not to be identified, telling bloomberg mostly in energy and mining have trouble. natural disasters, other issues as well, integration of foreign operations into a chinese company. a separate private tally of 161 projects, soubled it looks like it has not done well for the chinese. rishaad: some of this is feeding on itself. you have a slowdown in china, then in africa -- this $631 billion in

odi investment happened in the last 3-5 years. this is a boom-bust cycle that china has fallen prey to, and often odi in vestments, you have to have a longer-term perspective to judge success or not. i want to give you a quote from derek scissors, at the american enterprise student -- institute in washington. china's odi can be considered a failure. you have to walk before you can run. rishaad: there you have it. >> there you have it. and that is what they are doing. rishaad: it is a learning process. let's look at some other news. citigroup plans to leave its bonuses unchanged, a similar move by j.p. morgan.

they say senior managers were conformed tuesday. citigroup may still change the size of depending on how markets perform. they declined to comment on the matter. yahoo! is considering the sale of its main internet businesses starting today. the wall street journal saying the board will discuss whether to stick to its plan to spend off its stake and alley obama -- alibaba. mayery fight if marissa does not change her strategy is threatened. treasury secretary jack lew says america intends to ensure that the dollar stays the leading currency, coming on the heels of the imf in proving the yuan in the currency basket. made clear that we thought

it was important that china meet all the standards to be recognized as a currency and they met those requirements. we supported the action. long, ongoing discussions with china about their currency practices. thatmake commitments to us they will not intervene in ways that are unfair and we will hold them to those commitments. an unexpected contraction in u.s. manufacturing adding to speculation that the federal reserve will not raise rates quickly, even if it does choose to hike this month. we have this from new york. the december month was a rally on the tuesday session. the dollar slid from a seven-month high. fed speculation is at work behind that. islysts say december technically the strongest month of the year for stocks, not just the u.s., but worldwide.

advance today trimmed a bit. at least one fed policy member -- and that couple markets attention. >> i admit some nervousness about our upcoming decision. i would prefer to have more confidence than i do today that inflation is indeed to begin heading higher. given the current low level, some evidence of upward momentum and inflation would embolden that confidence. i am concerned that it could be well into next year before the headwinds are lower energy prices and a stronger dollar dissipate enough so that we begin to see some sustained upward movement and core inflation. thereket strategist said is more tolerance for risk right now.

the yield on the 10-year fell. everyone is hypersensitive. the clock is ticking until the fed meeting. investors are very focused on the jobs numbers, coming out on friday. on "trending ahead business", the chinese investment in a football group which values the owner of manchester city at $3 billion. ♪

rishaad: some stories making headlines. year's lamed for last air asia indonesia crash. disengaged before

it went into a steep decline. the pilot tried to regain control. that made things worse. it caused the plane to stall and ultimately to crash. all 162 people on board died. tony fernandes says there is much to be learned for the airlines, plane maker, and industry as a whole. againstl disqualification from next year's presidential election. the election commission rolled she had not lived in the country and could not prove she is a natural born citizen. she was abandoned at a church in by ahilippines, adopted movie star couple, and lived much of her life in the united states. queen deniedbeauty entry to china says beijing overreacted to her attempts to join the miss world pageant. she had no visa, but hope to get one on arrival, however she was

not allowed to board a flight in hong kong. she says she is surprised the chinese government would issue an editorial attacking her. me thats surprising for they would declare a person persona non grata. think that really shows a lot of insecurity. gamead: china raising its in world football, taking a stake in the company that owns manchester city. this comes after president xi jinping visited the city after his trip to britain. tell us about this trip. >> this is a private equity firm that has in expanding its exposure to sports and entertainment. they are even rumored to be taking a stake in the f1 circuit

as well. china is trying to promote think it's part of promoting nationalism as much as anything else. the company sees that this brand tens of potentially billions of dollars in the next 20 years. , isaad: the question is this just one of many deals in the pipeline? >> i think it probably is. the richest man in china has already bought in. there are rumors in the market that other chinese billionaires are interested in this, not only as trophy assets, but as part of their overall strategy in the to create cross banding at -- cross branding across different platforms. rishaad: what else does china

have its eye on? >> in terms of the tie up, they would like to bring manchester united -- beg your pardon, exhibitioncity to do games inside china that will help promote the chinese super league, which the chinese media capital also has the broadcast rights for the next five years, so i think what they would like china's game in terms of football through the association with the premier league champions. rishaad: we've got bit of breaking news. -- ap a to. lender and broker is seeking $1 billion on a $15 billion valuation. ax was too closes round of funding by early next year.

valued at between $15 billion and 20 billion dollars. a spokeswoman declining to comment on that. emissionvolkswagen's scandal spreading to india with 300,000 the eagles under recall. we will go to mumbai after the short break. ♪

rishaad: this is "trending business". i am rishaad salamat. a look at those wagons in mission scandal as it spreads to india and could involve more than 323,000 cars subjected to a recall. what is going on here and what is the latest? out on thedal broke

global scene a few months ago. it is only now impacting in india. overndian unit will recall 300,000 diesel cars after the had admittedund it to cheating on admissions -- emissions. in november, india found cars limitedthe company emissions with significantly higher levels in its diesel cars. to 11 being --up million vehicles worldwide. biggest business crisis in the carmaker's history

as it faces slowing orders. labor troubles have come to the floor. four. government officials spoke on aboutdelines in india standards of controlling pollution from exhaust fumes. they are really behind countries like europe and the united states. back to you. rishaad: thanks for that. just taking a look at some of the markets at the moment. shanghai taking a brief break. the hang seng kicking up marginally. we do have the situation in the u.s. playing out.

the nikkei trading under again and tokyo. that is it for "trending business". ♪

>> from our studios in new york city, this is charlie rose. charlie: tonight, we continue the exploration of the magnificent human brain with a look at sports induced brain trauma. focusing on kids and young adults making emergency room visits as a result of brain injuries from sports and recreation. our increasing understanding has ignited a national discussion about the risk of contact sports. bellucci turned down a scholarship toy