crucial fed policy meeting. it is the latest sign the fed is prepared to raise rates at last. lead toft off could abrupt taking and disruption when it comes to the market. lowering itsor's rating on eight u.s. banks on the possibility the government bailouts are not a thing of the past. s&p's saying that the likelihood futureort of banks in a credit crisis is now uncertain. let's look at the markets. ok, the main factor we see in asia, we had those comments from said chair yellen, saying that the u.s. looks ready rate hike in a decade, in fact.

they are inching up as we get ever closer. we see a little of that risk. all butaghi has guaranteed to move to expand euro qe. we also have of urse, opec where the markets are not changed when it comes to supply from the group. elsewhere in the region, we see hyundai fisher. by a quarter of 1%. elsewhere in the region, oil regulated -- oil related strikes lower. ,e are seeing those commodities that commodity drop most pronounced. oil and gas off 10% after topping 3% in yesterday's session, and in terms of what we are watching in sydney, it really is oil and gas related segments.

engineering companies worked very closely with offshore oil and the energy space, down by over 5%. coal producers, some of those raw materials looking very poorly today. to talk about the yen, because the possibility of yen weakness in 2016 weighing on sentiment. that japan will have to look for other possibilities than the currency effect. of weakness,bit although not much on the back of yesterday's session. we are notd, expecting much in terms of weakness going into next year. 32 -- 32% slide is what the market is expecting. we have not seen the yen move

past 130 since 2002. that currency aspect of passed.s may be in shanghai, anything can happen in the session. we are keeping a close eye on the chinese markets. rishaad: thank you very much indeed, haidi. someay of the introduce of models -- a new maserati and alfa romeo suv will not be going planned.ext year as the company is also discussing plans to dealifts with flagging growth. -- including underpayment, antitrust investigations. their agreements with four of the top five chinese been makers. the deal will allow the xiaomi to sell next generation devices

in the domestic market. japan will consider a share buyback in the -- in response to yahoo! marissa mayer under pressure from investors star board value, which has threatened a proxy fight. largest city2 remain shut down after the heaviest rains in a century. look with bloomberg siddhartha --r this is more than a simple monsoon storm, isn't it? reporter: yes, the government says it is the heaviest rain in 100 years. in november, we already saw two times the normal rains.

this is basically when the eastern seaboard gets its rains. channai has not seen these rains for 100 years and companies are unable to get its workers into factories, into offices and have had to close production. it is a huge amount of manufacturing, is it not, in chennai? what is the deal? you have companies mahendra,ford, daimler, hewn day -- hyundai. big information and other technology hub.

because of the rain, huge areas of the city have been inundated. workers cannot get into factories. so far, companies are saying that they are not really affected, but we want to see going forward. rishaad: well, absolutely. what is the outlook long and short-term? siddharth: in the short-term, there may be some impact in terms of lost production, hyundai, with products backordered. run, companies may be looking at contingency plans for incidents like this in future so they can diversify their manufacturing rishaad: base in the country. rishaad:siddhartha philip, joining us to give us more on the situation in chennai. --ery good morning to you

tell us, what is the situation on the ground like right now. >> yes, on the first and second far --mber, we had -- so [indiscernible] this is very abnormal. we had this [indiscernible] most in the last couple days' rainfall, the [indiscernible] have 5000 people in the field

to evacuate the people. more than 200 votes are being deployed. -- 200 boats are being deployed. and more than 60,000 people are in not quite marooned places. have brought them enough food. [indiscernible] healthcare and also all of the centers have been closely monitored. the natural, disaster for us -- we have had calls from the united states. chennai since in

7:00 -- rishaad: yes, i just want to get an idea of the infrastructure. has this been made worse by a lap of spending in many years?re over what needs to be done to make a situation which is bad not a disaster? >> the flooding is not because of the heavy rain, but also in the surrounding areas, and they do have this in the surrounding areas. we do have the problem. --ause the macro breaks [indiscernible] all this takes water from outside the city.

rains that fall are sent to the lakes. e the lakes get water from this area -- this macrofuture, event shows us how to deal with an event of this size. also being close to the city, the other problem is the high tide and low tide. flows the land water. so, [indiscernible] water is not received by the

sea. these are the problems. in the city, there are certain limitations. make it a design -- 30 to 50ly take it to years at most. now we have realized even beyond that. yes. rishaad: how much is this , and how much i hope are you getting from the central government here? chennai -- the rain never

stopped once. it stops and then it starts. [indiscernible] terms of state and central government, we hope we will get enough funds for the restoration. rishaad: thank you for joining ennai corporation , where theychennai have seen be worst rains of 100 years. refiners, is, oil they are actually set to merge now. this will be done in april to the 17.

this merger as japanese this will be done in april 2017. this merger as the japanese government encourages mergers. and the demand for petrochemical products has been projected to fall by the ministry of the mere 7% over the next five years. we have consolidation amongst refiners in japan. coming up on "trending business meeting ge'sk regional president and chief executive. that is up next. ♪

rishaad: we have been spending time this morning at the bloomberg business bank, and we will head back and join shery ahn. rish, as the 10 member

move, a key ton success will be developing sectors ge works in. been present in southeast asia for over a century and i am joined by ge -- thanksident and ceo you for coming in right after your panel there. can attach the last bit of the panel. you're talking about the challenges that ge still faces. you have been here for such a long time. what other challenges are lying ahead. guest: i think it is a fantastic opportunity, but it is too slow. we would like to see operation.

there are a lot of topics that need to be addressed. the company has been near for a long time. an extension of cross-country transmission, electricity, aviation of course arche and will be the main determiners of success. we need the government to step in and make it go faster. i think a challenge is asean is such a diverse region to do business. what challenges are there? very strong.ity is there's a lot of technological experience and a big market. i would really see this as a great opportunity. at and of course, all of the main is requiredre that from aviation, power, transmission of electricity, health care, i think it is -- ging the

what are your biggest markets? guest: we are starting from this date, but we are focusing on all of them. i would like to highlight one or two. there are huge opportunities. there is a five gigawatt plan, which is very ambitious, something where ge wants to play a key role. at you have seen a $1we have announced billion investment across our activities. and of course, we are building infrastructure. shery: what is your strategy in -- whered what do you use expansion in the future? you just mentioned indonesia. anymore plans? present inant to be

every country. we ever a very strong strategy, but we are focusing on digital. the internet of things. ge wants to play a leading role, making sure we get all of the information from the field and that we help our customers to do better operations and manage better their equipment. i think it is a big, big change, and some of the countries of asean a really keen to participate in this and it will be a game changer for the future. shery: it's tricky, especially in an area like asean, where you see such disparities among countries. we have 8000 people spread out and every single company -- country. this is what we want to leverage. we want to leverage the local experience, making sure we have the right context with our customers and work closely to

build our new infrastructure and find new solutions, which will .elp generate more revenue andy: you are also into oil gas, of course and that sector has been quite hard hit lately. guest: this is a challenge. i am convinced in the long run this market will be back. out stronger in the future. shery: currencies, plunging currencies and some of the asean countries. how does that affect your business question mark and your bottom line, basically? recently sometimes it is been positive. sometimes it has been negative. we have to look at the long term. itterms of our future plans,

is to be here, to grow here. recently acquired the french engineering company houston, as you know. also, in the rest of the technologies -- aviation, health care, we have come up with new solutions. we have to learn. we have to live with it. i am not so concerned. the macroeconomic environment is changing, but ge is leading the way there. thank you for joining us, the ge president of the asean region. back to you, rish. 2% -- 2%we have a climb. why tycoons are worried. ♪

rishaad: all right, you are back with "trending business." india's tycoons are concerned nts could cost them. the government's not listening. tell us about this. reporter: this has gotten a lot of attention and traction. we heard from the telephone industry yesterday, saying he does not want to be known as the missed call minister. essentially this means that the government will impose a 2 cent penalty on companies and this will amount to about eight alien dollars is what the industry is saying. understandably the industry is coming out and slamming the move. they say that this could lead to

confrontation with customers. in fact, the selling of the coi, companies likes vodafone has said, according to legals that it will seek recourse unless a framework is -- it does not see a solution as far as the call drop issue goes. that is the latest. do remember, it was recently telephone option in india, and several companies, telecomarly smaller companies bid more than they can afford, taking on huge a stress on the balance sheet, all to ensure they get spectrum. and this is not going to look good as well on the belly sheep. back to you. rishaad: thank you. that is it for this edition of "trending business." stay tuned for "asia edge."

be with us. the president and chief executive joining us exclusive in the studio. this is bloomberg. "asia edge" is next.

♪ >> from our studios in new york city, this is "charlie rose." charlie: she is a former first lady, former senator from new york, and former united states secretary of state. now hillary clinton is running for president. the democratic front runner sat down with me in washington, d.c. she talked about her plans to fight isis and remove bashar al-assad. the challenges of dealing with russia, with china, and the problem of climate change, and the role of the united states in a rapidly changing world. from a balcony overlooking the white house, she told me hhe