♪ it's monday, the seventh of december and this is "trending business." ♪ rishaad: we'll be like in washington for president obama's speech. this is a look at what we are watching. opec's decision to abandon production limits, sending down oil once again. saudi arabia is determined to drive its rivals out of the game. tosident obama is just about give the major speech on the fight against terrorism. it comes after criticism of u.s. strategy at home and abroad. more troubles for the top

investment -- a public criticism. he says it will not delay because management was no longer trustworthy. follow me on twitter. president obama is speaking from the oval office. it is only the third time during his presidency that he has done a speech from there. he is addressing the fight against terrorism and the shooting of 14 people in california. we can have a look at what -- let's see what markets are doing first of all. here's heidi. we are seeing a pretty broad recovery after the horrible selloff we saw last week for asian markets. it is interesting that the number we had on friday from the u.s. was not a blowout number. rishaad: i have to interrupt you.

let's go to the oval office. president obama: immigrants and american-born, moms and dads. daughters and sons. each of them served their fellow citizens. all of them were part of our american family. tonight i want to talk with you about this tragedy. the broader threat of terrorism, and how we can keep our country safe. the fbi is still gathering the facts about what happened in san bernardino. here's what we know. the victims were brutally murdered and injured by one of their coworkers and his wife. evidence thate no the killers were directed by a terrorist organization overseas or that they were part of a broader conspiracy here at home. but, it is clear, that the two of them had gone down the dark path of radicalization. embracing a perverted interpretation of islam that calls for war against america and the west. it -- they stockpiled a solid

bend, ammunition, and pipe bombs. this was an act of terrorism. designed to kill innocent people. our nation has been at war with terrorists since al qaeda killed nearly 3000 americans on 9/11. the process, we have hardened our defenses from airports to financial centers to other critical infrastructure. intelligence and law enforcement agencies have disrupted countless plots here and overseas and worked around the clock to keep us safe. andmilitary counterterrorism professionals have relentlessly pursue terrorist networks overseas. disrupting safe havens in several different countries. killing osama bin laden. and decimating al qaeda's leadership. over the last three years, however, the terrorist threat has evolved into a new phase. as we become better at preventing complex, multifaceted attacks like 9/11, terrorists have turned to less complicated

acts of violence like the mass shootings that are all too common in our society. it is this type of attack that 2009, in fort hood in chattanooga earlier this year, and now, in san bernardino. isiloups like i sold -- grew stronger in iraq and syria and does the internet arrays is the distance between countries, we see growing efforts by terrorists to poison the minds of people like the boston marathon bombers and the san bernardino killers. years, i have confronted this evolving threat, each and every morning, in my intelligence briefings. since the day i took this office, i have authorized u.s. forces to take out terrorists abroad, precisely, because i know how real the danger is. as commander-in-chief, i have no greater responsibility than the security of the american people. to two young

daughters, where the most precious part of my life, i know that we see ourselves with friends and coworkers at a holiday party like the one in san bernardino. i know we see our kids in the faces of the young people killed in paris. and i know that after so much war, many americans are asking whether we are confronted by a cancer that has no immediate your? here's what i want you to know. the threat from terrorism is real, but we will overcome it. and anydestroy isil other organization that tries to harm us. our success will not depend on cap talk or banding our values or giving in to fear, that is what groups like isil are hoping for. instead, we will prevail by being strong and smart. resilience and relentless. and by drawing upon every aspect of american power, here is how. our military will

continue to hunt down terrorists plotters in any country where it is necessary. iraq, and syria, airstrikes are taking out isil leaders. heavy weapons, oil tankers, the infrastructure. since the attacks in paris, our closest allies, including france, germany, and the united kingdom, have ramped up their contributions to our military campaign which a hopeless accelerate our effort to destroy isil. second, we will continue to provide training and equipment to tens of thousands of iraqi and syrian forces, fighting isil on the ground. so that we take away their safe havens. in both countries, we are deployed special operations forces who cannot celebrate that offensive. we have stepped up this effort since the attacks in paris. we will continue to invest more and approaches that are working on the ground. we are working with friends and allies to stop isil operations. to disrupt plots and cut off their finances. and prevent them from recruiting more fighters.

since the attacks in paris, we have surged intelligence sharing with the european allies. we are working with turkey to seal its border with syria. and we are cooperating with muslim majority countries and with our muslim communities here at home. to counter the vicious ideology that isil promotes online. fourth, with american leadership, the international community has began to establish a process and timeline to pursue cease-fires and a political resolution to the syrian war. doing so will allow the syrian people and every country, including our allies but also countries like russia, to focus on the common goal of destroying isil. a group that threatens us all. this is our strategy to destroy isil. it is designed and supported by our military commanders and counterterrorism experts. together with 65 countries that have joined an american-led coalition, and we constantly

examine our strategy to determine when additional steps are needed to get the job done. why i have ordered the department of state and homeland security to review the visa waiver program under which a female terrorist in san bernardino originally came to this country. that is why i will urge high tech and law enforcement leaders to make it harder for terrorists to use technology to escape from justice. now, here at home, we have to work together to address the challenge. there are several steps that congress should take right away. to begin with, congress should act to make sure that no one on a no-fly list is able to buy a gun. what could possibly be the argument for allowing a terrorist suspect to buy a semiautomatic weapon? this is a matter of national security. we also need to make it harder for people to buy powerful assault weapons, like the ones that were used in december in a

dino. i know there are some who reject any gun safety measures. the fact is that our intelligence and law enforcement agencies, no matter how effective they are, cannot identify every one-b nash shooter. whether the individual is motivated by isil or another hateful ideology. what we can do, and must do, is make it harder for them to kill. put in placeld stronger screening for those who come to america without a visa so that we can take a hard look at whether they have traveled to war zones. and we're working with members of both parties in congress to do exactly that. finally, if congress believes, as i do, that we are at war with isil, it should go ahead and vote to authorize the continued use of military force against these terrorists. for over a year, i have ordered our military to take thousands of airstrikes against isil targets. i think it is time for congress to vote to demonstrate that the

american people are united and committed to this fight. my fellow americans, these are the steps that we can take to gather. to defeat the terrorist threat. let me now say a word about what we should not do. be drawn, once more, into a long and costly groundwork in iraq or syria. that is what groups like isil wants. they know they cannot defeat us on the battlefield, i still fighters were part of the insurgency that we face in iraq, but they also know that if we occupied foreign lands, they can maintain insurgencies for years. killing thousands of our troops. training our resources. and using our presence to draw new recruits. the strategy that we are using now, airstrikes, special forces, and working with local forces were fighting to regain control of their own country, that is

how we will achieve a more sustainable victory. and it will not require us to send a new generation of americans overseas to fight and die for another decade on foreign soil. here's what else we cannot do. we cannot turn against one another. by letting this fight be defined as a war between america and islam. that, too, is what groups like issa ones. isil does not speak for islam. they are thugs and killers. part of a cold of death. they account for a tiny fraction of a more than one billion muslims around the world. including millions of patriotic muslim-americans who reject their hateful ideology. moreover, the vast majority of terrorist victims around the world are muslims. if we are to succeed in defeating terrorism, we must enlist muslim communities as some of our strongest allies. rather than push them away

through suspicion and hates. that does not mean denying the fact that an extremist ideology has spread within some muslim communities. this is a real problem that muslims must confront without excuse. muslim leaders here and around the globe have to continue working with us to decisively and unequivocally reject the hateful ideology that groups like isil and al qaeda promote. against not just ask the violence, but also those interpretations of islam that are incompatible with the values of religious tolerance, mutual respect, and human dignity. just as it is the responsibility of muslims around the world to root out misguided ideas that lead to radicalization, it is the responsibility of all americans, of every faith, to reject discrimination. it is our responsibility to reject religious tests on who we admit into this country.

it is our responsibility to reject proposals that muslim-americans should somehow be treated differently. because when we travel down that road, we lose. that kind of divisiveness, that the trail of our values, plays into the hands of groups like isil. muslim-americans are our friends and our neighbors. our coworkers. our sports heroes. our men andy are women in uniform who are willing to die in defense of our country. we have to remember that. my fellow americans, i am confident that we will succeed in this mission because we are on the right side of history. we were founded upon a believe in human dignity. that no matter who you are where you come from or what you look like or what religion you practice, you are equal in the eyes of god, and equal in the eyes of the law.

season,this political even as a properly debate what steps i and future presidents must take to keep our country safe, let's make sure that we never forget what makes us exceptional. freedom isorget that more powerful than fear. we have always met challenges whether war or depression, natural disasters or terrorist attacks, by coming together. around our common ideals as one nation and one people. so long as we stay true to that tradition, i have no doubt that america will prevail. thank you. god bless you. and may god bless the united states of america. rishaad: president obama in the oval office. let's go to bloomberg news white

house editor. alex: how are you doing? rishaad: what was your take on this? speech designed to reassure americans who are pretty rattled after back-to-back attacks in paris and in san bernardino. i think potentially a lot of americans are now worried that someone close to them, be a coworker, might turn out to be a terrorist and could show up anywhere in the country now. and attack. without any knowledge by the government or public. rishaad: within this, was there a side swipe against the pro-gun lobby? alex: he packed a lot into this speech. he definitely included a call for new gun control measures. congress rejected several gun control measures just on friday. that is probably not going to go anywhere. he also asked for americans, themselves, to sort of take a

step back, consider how we can combat terrorism and also, don't resort to turning against one another. discriminating against muslims. also, he asked muslims in this country and around the world to do more to root out extremism and radicalism in their own culture. rishaad: one thing he boldly looking at here is, another tightening on immigration, more screening, looking at people with visa waivers. alex: he has been talking about this for a couple of weeks now. this is a area were president and republicans in congress actually agree. they all want to tighten requirements for this so-called visa waiver program where residents of certain countries can travel to the u.s. without getting a formal visa. rishaad: thank you for that. he is the bloomberg white house editor. we have another 15 minutes before we get the first trading under way. ahead of that, yes have

singapore, taiwan, and malaysia. here's heidi. heidi: we are starting to come off the days highs at this point. still taking a look around the region. things are a lot brighter. that theyresting remember that i was talking about earlier was not a blowout number by any means. better than expected. it seems to have hit a sweet spot. it is strong enough to give certainty to december, being the month for the first u.s. rate hike. 76%. it is taking up. but it was not such a strong number of fat -- that we are also starting to get some sort of confusion about whether the fed might raise it faster and quicker. we are seeing broad gains around the region. i want to take a quick look at some of the big gainers, because we are seeing some strength across the energy-related stocks. oil is continuing to fall.

seeing point, we are some people coming off of the day's mornings and gain. by one and 3/10 of a percent. they trade in the green earlier. we are seeing robust gains for the gold miners on the back of last week. i do want to quickly point out oil is in focus today after opec did to their heels in. we saw that price come off. debbie ti is still trading below $40 a barrel. that is how we are sitting. act to you. afterd: to tell you that the break we are having a look at this speech by barack obama at the oval office just a short while ago, and we are getting reaction from the u.s. this is "trending business." ♪

rishaad: we are hearing from president barack obama added the white house. he was talking to the american people trying to reassure them of this evolving terrorist threats and how what they can do and what other people can do to try and minimize the impact from there. he is trying to sue the country after being shaken by this event in san bernardino and california. a couple of weeks before that, by events in paris.

let's get the latest and reaction from the university of sydney u.s. -- study center. we have tom. what did you make this be? i think he is trying to reassure the american people that he and his ministries and take the threat of islamic terrorism seriously. he is discouraging american people from giving in to fear. following the attacks in paris and in california. i think the big take away here was that he is insisting again, that there will be no ground war in iraq and syria. i think that he quickly understands the mood of americans and that the american people are outraged by islamic state. but, nevertheless, there is no grounds for support for committing ground troops. the rally is that most military experts will say that if you truly want to liberate the sunni jihadists from sunni towns, you'll need about 100,000 ground troops, plus a political settlement and neither prospect

is likely. rishaad: the thing is that is why he is saying they need to train thousands of syrians and other arabs to fight this battle on the ground, itself. the thing is, that training program that they have had for a couple of years has brought nothing. tom: i think that is right. , think what is happening here now, and both the rock and in sectarian broader battle. on one hand, in syria, you have a sectarian regime and a brutal army. backed by the iranians. they have committed as many atrocities as isil alone. the cityhave jihadists, and it is not just the islamic state, it is other jihadists like al qaeda and others. this is a broader secretary in battle and iraq, more or less the same thing is happening. backedrian shiite regime

by the people and ron are fighting the sunni jihadist. if you look at these towns that the islamic state controls like model -- mosel and falluja and ramadi. all of the available evidence seems to indicate that the broad cross-section of the sunnis living in these towns, though they do not particularly like the islamic state, they nevertheless tolerate them, why? because they're worried about the alternative. the alternative is the shia militias were aided and abetted by those in tamron. there is no easy solution to this conflict. think that will necessarily resolve the problem. rishaad: tell me, we have talked about this before, you cannot bomb and ideology, even if you go and send in ground troops and get rid of the violent jihadists out of these towns, you are left with a sunni population, what then? tom: i think that is exactly right.

this is not an isolated view. i think there is a consensus emerging among many military figures and political figures that the airstrikes, although they are well intended, they're obviously focused on sunni areas in syria and iraq, and if anything, it reaffirms that sunni arab narrative since the downfall of saddam hussein and 2003, since the syrian civil war and 2011, this potent sunni narrative that western government and russia are in cahoots with the shia governments in the region. and to the extent of this narrative prevails, and the prospects of reaching a political settlement on the ground where sunnis feel included in either syria or iraq, is highly unlikely. i think, for what it's worth, the best solution is one proposed a former u.s. ambassador to the u.n., john bolton in the new york times a couple of weeks ago where he raised the prospect of a

semi-state that incorporates the sunni areas of syria and iraq. the only problem with that of course is that this is precisely the caliphate that the islamic state possesses. be islamic state needs to defeated before we have any kind of critical settlement on the ground. the question of defeating the islamic state -- rishaad:tom, please stick around with us. we'll be back with you in 20 minutes. let's get you to some breaking news. a cash offer coming through for neptune, $2.4 billion. assuming that -- we'll have details coming up. , meeting a property magnet. we will explain who he is. ♪ the only way to get better is to challenge yourself,

and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20.

it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. rishaad: just coming into the hong kong exchange by this is the chief executive of a bank. he is about to bang the gong. of 1%.ket is up 9/10 they are raising near the low end of the marketed range. here we go. we will see if he gets it right

the next time. 15elieve he has about seconds until he signals the start of jinzhou. here we go. [gong] > go, $26 there they billion in terms of listings. we will get you up to speed on top stories this hour. ♪ president obama saying the last week's shootings in san bernardino were a result of

terrorism. he called for congress to pass tougher gun laws. and he asked for strengthening the screening of immigrants and a new force against the islamic state. we have nobama: evidence that they were directed by a terrorist organization overseas or part of a broader conspiracy at home. it is clear the two of them had gone down the dark path of radicalization, embracing a part they stop pau gasol rifles and pipe bombs. this was a plan designed to kill innocent people. rishaad: oil expected to fall to upe's after opec gave limiting production. unlimited pumping. this is great out rivals like

russia and the u.s. almost 2/3 of u.s. traded chinese stocks have beaten earnings since july. at the same time, more than half of the members missed estimates that were heavily weighted. they are now saying that china needs to meet profitability before it catches up with revenue. and shanghai, hong kong are open. we will go to heidi. heidi: not bad. so far, we are seeing a broad-based rally. we had a horrible week, the weeklong selloff for asian-pacific shares. we are coming off the back of that. we are following this nice picture of green. we are looking at payroll numbers, not a blowout number,

but it will give us more certainty. we have a chance of the fed raising rates next week. but not enough of a blowout number two perhaps increase the likelihood of the fed moving to more frequent cuts as the begin their cycle. we are starting to see markets come off their daily highs. take a look at sydney, up by half a percent. and really strong gains coming through for the japanese market. we will take a look at the knee 225, everything in the green. in particular, some export oriented sensitive stocks are doing well today. automakers are up by almost 1%. and i will take a quick look at the yen. we did see a decline in yen-d ollar. of about .5%. we are going to see a little more of a downside for the japanese currency today.

we are also keeping an eye on crude. opec has dug its heels in. another 1% under that $40 a barrel mark. and that is how it is sitting. back to you. rishaad: thank you. here in hong kong. and in australia, one of the biggest real estate injuries -- industries, this company debuted at $2.10. we are joined from the exchange , by john.ydney thank you for joining us. congratulations on getting this away. a little but of a disappointment that you have fallen back mother how much heavy raised from this this?ve you raised from

about $125 million. there are terrific opportunities ahead of us, we are not focused on the first half hour. we are looking at the next 3-5 years. rishaad: what will you do with the money? stronge have pretty growth target going forward, we are growing and we want to continue the trajectory, in fact increase it. we will have some select acquisitions over the next few years, looking for brand that complement what we do and we think that there are good businesses that will help in our journey. tall order% is a organically come i know you will do other things. the housing market which was on there, and it looks like is a slowdown in sydney where you are now. yes.

no doubt that the sydney market and melbourne market have come down a little bit. we think that going for that is a good market to grow in. if we look at what is happening in other downturns and times when the market goes from strong to not as strong, we find that the volume goes up. volumes is predicated on and market share, so i am confident about our ability. and we also believe going for that there will be strong volumes to support and growth aspirations. rishaad: absolutely. the thing is, as a real estate agent, do you want to remain like that, looking at acquisitions are they going to be built on or getting into other businesses that may be related to other property? john: they will be related to property no doubt, but it will not be the mcgrath brand. we are established and will have

about 100 more offices over the next few years. the acquisition will be other real estate companies, through geography or may be other networks. we think they will be complementarity to what we do. we look at what realty has done in the states. and we are under about six aands and we can get in strong -- and follow that direction. rishaad: tell me, we see this fall back. what are you looking at the top end of the property market? a lot of chinese buyers, is that demand? getting softer out of china ? continuing, it is around 15%, very strong compared to where it was a few years ago. back just a little bit. it china is across the range. all the way to the top end. so we think that will continue.

casesd some publicized bought outside the legislation. that is a handful of situations. the vast majority of scenarios is people in hong kong and china are buying legitimately and they have a strong demand for australian property and with the australian dollar the weighted it is more enticing. with the ipo luck and the rest of the day and good luck with shark tank as well. thank you for that. we will quickly check-in on other stories. developing countries finding a harder to aro abroad, the slump salesces in china causing to tumble 90% -- 98% in the third quarter. it is the biggest downturn since 2008. and sanctions on russia and political turmoil in brazil and turkey are causing debt sales.

and a group buying health care means itmillion it will be able to the advantage of opportunities expected from the free trade agreement head of the transaction is expected to be completed in the first quarter of next year. and the president of the agricultural bank of china resigned for personal reasons amid media reports that he was being demoted by the communist party. he joined the bank and 1985 and became president in 2009. had beenthat zhang taken away by authorities for an investigation, but he was back at work later. -- among them, making the global economy more resilient and less reliant on the dollar. -- how is this

agenda shaping up? >> phase two is going to the president of the g-20. this is slowly taking shape and one thing they want to do, if you shake up the dollar in the world, france and south korea, looking at ways to explore options in how you want to grow in the global comic in one example, getting commodities priced more frequently. ideas put on the table, nothing will happen overnight, but they're trying to look at the world. rishaad: how realistic is it that they can achieve this? >> it probably will be a tall order and you have to convince america, get it back involved in the g-20 nations around the world. and when you consider there is , anddy a lot of skepticism the hard part will be overcoming this. --s about hard work is there

the hard work is there. you would have to say, a few years ago, if somebody said the yuan would be in the basket, there is the skepticism. so even if they start the conversation in the g-20 presidency, who is to say that in a few years there will be pricing and commodities. rishaad: we have to take a break. + 2re asking, will 1 equal sales? we will have the answer after this break. ♪

>> stories making headlines, mo heavy rain forecast in southernndia as the region struggles with the aftermath of once in a century storms. the airport is partially reopened, but air india says full operation will not resume

until the middle of the week. at least 450 people known to have died in the flood and they expect the number to rise. 14 patients died in a hospital when the power failed. is onance's right wing its way to victory in at least five of 12 regional elections. polls say that fn has taken about 27% of the vote. socialists are in third. this comes the weeks after attacks in paris with the fn benefiting. and a shipment of much-needed groceries and other supplies on its way to the international space station after nasa relaunched a commercial delivery service. the capsule should arrive on a dnesday after liftoff earlier today. the previous launch ended in an explosion.

failureuffered a launch in june and russia also lost an unmanned supply ship earlier this year. we will take a look at the chinese market. one thing is attracting attention, it may have been good islicity, but oneplustwo moving away from that with a new product. this came out in december 13 and in less than a year it has gotten bigger ambitions. it is targeting 5 million sales this year and 10 million next year. the cofounder and head of the company is coming in. tell us your story. >> we started it because we could not find any smart phones on the market that we thought were good enough for ourselves to use. it was a very simple premise. we also saw an opportunity

because the market was moving toward e-commerce and globally there was no player thatwas going direct to the consumer with smartphones. so that is why we started oneplus and we never expected this many people to agree with us that to focus on something like design. rishaad: that is what it is about. you are saying it is fabulous for touch and resilience wise. carl: the phone has the latest technology, but i think these things are less important for the user. the overall expenses becoming more important, so it is about that. rishaad: with growth, you have put yourself into the whole smartphone racket, there you are in with the chinese. and you have apple on top. he have samsung with the galaxy. where are you? much: i think we're pretty

no buddies. rishaad: you have to be somewhere. carl: we are small, we cannot compare ourselves with any of the big guys. rishaad: so you are in like the butte takes -- boutiques? carl: yes and maybe one day we will compete on a larger scale. units, thatmillion is getting into the supermarket chain category, is it not? carl: the revenue has never been our goal, we are about giving good suitors -- service two years is, so we do this could -- correctly, good things will follow. someone asked us, if you had to put a number to next year and the year after, that is, we do not talk a lot about it we just made a guess based on projections. -- how dok, so you you see apple's position,

samsung and in their possession -- position in the market? carl: i think over all, it is not a healthy market when one company like apple takes over the market. everybody else's struggling and not making a lot of money. so, yeah. rishaad: do you get tired of talking about apple? carl: not really, we think that we are so small that the decisions we take internally and practice a lot more than competitors do. rishaad: what about the iphone? we, it was funny, our phones have a different material. consumers can buy these for their friends, weeks or of cover the apple logo -- we sort

of cover the apple logo would be 1+ logo. rishaad: and you have global plans? carl: the u.s., u.k., and india. rishaad: what about europe? europe we are of shipping to, but the lesson we learned is that we need to go deeper into the market. , instead ofkets extending into more countries we want to make significant impact into key countries like the three dimension. rishaad: thank you so much for joining us. business, on trending getting social media reaction to president obama's televised address on mass shootings in california. ♪

rishaad: present barack obama was speaking at the top of the

hour to american people. we will check social media. towe are looking at reaction the address from the oval office, this is only the third time the president has done this during his presidency. conservatives have come on the attack that is a highly charged environment with icky panties and test campaign season on. david limbaugh saying that just wanting more forces against isis is not enough. he says that he is still willfully blind to the threat. and while the president is compelled to say that muslims are our friends, since 9/11 we are angry. of course, we also have reaction from donald trump, he is weighing in on the speech. he said, is that all there is, we need a new president, fast. and before the address, he had

said he hoped to the president would not speed that spend too much time ripping apart the second memo. we have heard from the president to that, not convert to act on gun control, saying that they must act to stop those on no-fly list to be able to flag -- to build to buy guns. rishaad: think you. more analysis on the speech. joining us is tom switzer. he is at the u.s. study center in sydney. thank you for sticking with us. tweets.ises with the i we running out of ideas -- are we running out of ideas? tomp: i think militarily, you ae probably right. the airstrikes, although they were well intended, it shows of the narrative about the grievances about the west and they were somehow inc. foods with those in the region.

there is not going to be any prospect of 100,000 ground troops and no real prospect of a political settlement, because the regime in baghdad and damascus are more interested in taking revenge against the sunni populations rather than building a nation. i think some of the proposals were plausible, the idea of toughening up the visa waiver program, making it easier for folks from friendly countries to come to the united states. that would probably have bipartisan support. and more gun control is also plausible, but it is not going to work as long as the republicans are controlling both houses of congress. this is multitasking problem and it is not clear what the solution is. , every time you go to the airport, you take your shoes off. that is an inconvenience.

and there was a guy who is trying to put firecrackers in his shoe. tom: look, one of the possible points is that the islamic state others, they want america and allies to intervene more deeply in the middle east, because this helps recruit numbers to the cause and it also sunni arabirm that narrative, not just in the east but in the west. in regions that are deeply hostile to military intervention, it not just hurts american credibility, but it also is counterproductively helping the cause of the error of sunnis because it helps them with their grievances. my sense is to the arab muslims who on this shooting rampage in

san bernardino, a few days ago, they were -- underground, local -- rishaad: we are going to commercial, thank you so much. more news after this. ♪

rishaad: it is monday the seventh of december, and this is trending business. in singapore, sydney and more by this hour. abandonel's decision to production limits increases the pressure on oil. they are determined to drive their rivals out of the game. ofma addresses the threat terror and says freedom is more powerful than fear. he is calling on congress to

make it harder for people to kill. not so lucky, and australian picks up another award. some of the world's biggest losers. to follow me on twitter. the trading day is getting underway. the session is on in jakarta. china has just been negative hasn't it heidi? heidi: here we go again with the volatility in shanghai. about 4/10 of a percent higher. we are seeing a much better picture. i do want to talk about china. the securities firm has been making a lot of headlines since august. the stock selloff was one of the messages. bringing asset classes back.

the securities firm has said it has been unable to contact you more of its executives. the investment banking business and the leader of the investment banking international unit, both of them cannot be reached. the company says all operations are normal. these two men were suspected of being requested to participate in an investigation. a number of chinese brokerages and banks, very high-ranking ones, being taken in for investigations. investor,ion and insider trading. has beenities watchdog looking at the securities firms. been under investigation for shortselling and margin financing. it's look at how stocks are doing. hong kong is down.

and bank, we also heard news about them that its president has been taken in for investigation, there is speculation that he has resigned. mainland media reports suggest that that individual is also under investigation. these financial corruption investigations. the announcement of the two missing investigations -- executives takes the headcount to about a dozen of missing executives. some of the other biggest movers on the plus side. very strong gains on the back of a weaker yen. consumer goods are doing particularly well.

weakening byeen about 4/10 of a percent after we had that stronger-than-expected u.s. payroll data. expectation that we will see that u.s. interest rate hike. we are seeing the effect of that number not being too strong. a steeper than expected inclined when it comes to fed tightening. we are seeing further weakness for the japanese currency. just about 1/10 of 1%. it is interesting because traders are seeing 125 as the resistance level for the yen. just before i go, i would like to talk about crude. that came under quite a bit of pressure because opec is not cutting production. we are seeing a continuing tiwnside when it comes to w

oil. that is how we are looking in the markets. rishaad: we are looking at oil because those opec ministers. it was a chaotic and lengthy meeting that opec had indiana. once again below $40 per barrel. the cartel continuing to pump oil to try to squeeze out its rivals. let's look at the economics behind all this. is a complex situation. some people are calling it a free-for-all. saudi arabia took the decision to ignore the market share and pump oil.o part -- the 12 opec nations at the meeting on friday agreed with saudi arabia, perhaps they had no choice. the saudis have continued to pump and pump oil.

they have had huge impact in terms of their control over prices. a 26% drop in oil prices this year. the implicit endorsement although wasn't mentioned in the communique of their ability to pump whatever they want. certainly well above that 30 million barrel a day level that they agreed on in 2011. that is regularly exceeded by about 2 million barrels a day according to oil analysts. it is the world's biggest producer it as you can see in this wake of this decision, crude oil futures are trading lower. the london benchmark for brent crude is at $42 and $.88 a barrel. oil has now slipped below $40 a u.s., that is not even enough for the producers to break even, even for saudi

arabia, the oil kingdom that has the lowest costs in the world. oil from theact desert as its offshore platforms. there are complex elements here. russia is part of the equation and iran. nuclear deal that gives iran leeway to sell its oil, bringing them back into the fray. exactly how much they will put onto the market is a key concern. regional concerns here. a call for saudi arabia to step back from oil. they are looking at their solar business and other ways to create energy and exported. as you well know, this is a complex situation with no definitive answer as to this apparent free-for-all in oil prices. rishaad: we will have a more detailed look at that story later in the show.

let's catch up with some of the other stories that we are watching. >> president obama has just called the deadly california shooting an act of terrorism. addressing the nation in a speech from the oval office, he said the attack on san bernardino was carried out by a muslim couple who were radicalized extremist ideology. although not necessarily directed by a foreign terrorist organization. the president decided to give this speech out of the oval office, only the third time he has done so during his presidency, after the fbi concluded that the killing of 14 people was a terrorist attack. actions being taken to intensify the military campaign against the islamic state in syria and iraq. including steps up airstrikes targeting the oil infrastructure that the group relies on for funding.

that leadersys must work with officials on terror. about the same time the shootings took place she swore allegiance to the islamic state. it maycorporate sector, not be such a happy holiday season for some of the staff at barclays. they are considering axing an additional 20% of the employees. of the lossesst can be expected in asia and the global cash equities business. sources tell us that the ina-pacific operation markets including japan, hong kong and singapore aren't considered competitive and profitable enough. the cuts would come on top of an existing program to eliminate 7000 jobs at the investment bank through 2016.

other banks are also shutting to focus on more profitable areas. morgan stanley is planning to cut as much as a quarter of its fixed income staff. credit suisse and royal bank of scotland are also scaling back their fixed income businesses this year. company says that this is in talks to sell a credit portfolio to some of brazil's biggest bank. this is an attempt to unload assets and shore up cash after the arrest of the company's founder last month. loan portfolio contains many guarantees that cannot be sold. still the company supposedly has no short-term debt maturing anytime soon. they can obtain a fair price of the assets.

sinceas been reeling september when the ceo was arrested on suspicion that he tried to obstruct a nationwide corruption probe. he has denied the allegations. they will struggle to recover after a lot of its billionaire founders. the shares have been tumbling. rishaad: thank you, heidi. said to be near a deal to buy neptune. trading in the nol shares have been halted pending the announcement. thank you very much for joining us. >> the world's third biggest shipping companies is said to be offering one dollar and two $1.32 a share.-

they have given no details yet. they have made an announcement that will come probably today but we will have to wait for the answer on that one. cma cgm is carrying out due diligence and trying to .egotiate an agreement as part of the agreement, it will be said -- it is said to be moving its headquarters to singapore. an effort by nol to cut costs. because of overcapacity of ships and declining trade demands and weak demand. it would be beneficial for cma

because they specialize in trade within asia and on transpacific efforts. that will help the company strengthen its position and compete with its bigger rivals. such as the mediterranean shipping company. rishaad: thank you very much. looking at how china tries to make the global economy more resilient. company takesthe over leadership in the g-20. heading to india to see how the world's most polluted city tries to clear the air. and as the paris climate talks wind up, we will look at that issue. you are watching trending business. please stay with us. ♪

rishaad: through -- weot are through these marathon talks. a managing director at aig. clean energy in asia. backed up to the asian development bank. why this pessimism in paris? there have been 20 such meetings that have come and gone. there a few tangible results to show for it. decades, thewo emission of greenhouse gases into the atmosphere has increased at a faster pace than in the two decades before that. in practical terms relatively little has been achieved. the hopeful sign out of paris is that for the first time countries are talking about

putting a carbon budget and certain targets down. rishaad: most people eventually gone for this as well. are in favor of this. but it is not binding, that's the thing. and it isot binding not enough. if you run these targets through the climate model, they only give us .05 degrees centigrade improvement. we are trying to make a difference of two degrees centigrade. it is a step in the right direction. it is not binding but one hopes that being in such a high theyle setting, perhaps will be more serious about it. rishaad: is becoming more and more of an issue because when you go into the big cities of asia you find that the atmosphere is terrible. intoat pushing this region making tangible and palpable changes to do more about climate

change? have you seen the interest grow exponentially? we've seen a tremendous increase in interest in renewable energy. the 90% drop in solar panel costs has made solar power and .ind power achieve great parity it is economic forces that is driving the adoption of renewable energy in the private sector. making it worthwhile for governments to target this from a policy perspective. we are seeing significant improvement. in 2014, more than half the investments that when it should renewable energy in the world happened in asia. going forward in the next decade, between half and two thirds will be in asia. epicenter for this. rishaad: that is where the majority of people come from anyway?

>> that is where the sunlight is. good, renewable energy especially when it is available at affordable cost. the nature and resources available in our part of the world. rishaad: how important is the government there is a stakeholder in these countries? is it more difficult if they're not? asia is creating its energy infrastructure. in the noble energy and the , smart gridslogies and smart meters, new turbines, distributor generation, they give policymakers the ability to use a generation of technology -- same wasted mark phones cell phones did, they could skip

the whole landline generation. we like the noble energy and that is going to be a big sector. that is becoming more mature as well. we are seeing the next frontier of opportunities being distributed generation. that is what takes the energy to where people are living where they are consuming it. likees energy, we also businesses that are involved in reduction of waste and improving resource efficiency. logistics we like. wastee electronic activity. virginhave to go to a minds to get out. and of course waste management, because the amount of waste being generated by asian cities is only increasing as urbanization continues. rishaad:

thank you so much for joining us this morning. theick look at some of stories making headlines around the world. suspended at schools in beijing until at least wednesday. we've been talking about climate change. now a new smog warning. an orange alert has been it issued for the capital. the air quality has reached an unhealthy level. toxics, thens of most dangerous are at 200 and 70 meter.ams per cubic azerbaijan has a clear morning for people that are missing from fire in theorm caspian sea. 29 people are missing. a ship capsized in the stormy weather. neighboring countries have been asked to join the search.

myanmar's former army chief is the country's future leader, according to a facebook posting by his grandson. he held an unannounced meeting with a leader who is kept him under house arrest. it is unclear whether this endorsement could lead to the constitutional change needed for her to become president. the world's biggest gamblers are becoming the world's biggest losers. poor decisions. ♪

rishaad: australians have a new world first, but perhaps one they don't really want. they are ready the world's biggest gamblers, now they are the biggest losers as well. what is behind this surgeon gambling? -- surge in gambling? >> like everywhere else, australia has low interest rates so people have been more money to spend. confidence is up a little bit among consumers. is encouraging them to

further a few more dollars away on this. an increase in advertising. if you are watching a sports match in australia these days, you are inundated with advertisements urging you to gamble on the results. rishaad: is the government concerned about this increasing gambling or they just sitting back and enjoying the revenue? >> revenue from gambling does help the budget for the federal government at a time when they really need the revenue. the federal government has begun to review, particularly looking at the use of offshore, online gambling websites. on some of these websites in 2001. but increasingly australians are still using them. it's a $1 billion industry. rishaad: thank you, ian.

let's look at what is happening in the trading day across the asia-pacific. we did detect a bit of weakness in the shanghai market. that has been reversed now. seng is up about a quarter of 1%. the nikkei is up more than 1%. we fell back in the last couple weeks. up more than 206 .oints this morning opec is abandoning production limits. we have a look at the implications of that weekend vienna meeting when we return. ♪

rishaad: look at our top stories. pretense of all production limits and a chaotic meeting in vienna on friday. the cartel is allowing essentially unlimited pumping to squeeze out non-member rivals such as russia and the united states. will fall below $38 per barrel within the next two weeks. the san bernardino shootings were an act of terrorism, says president obama.

callresident repeated his for congress to pass tougher gun laws. also the screening of immigrants and the authorization of force against the islamic state. australia's gambling habits is now the costliest in the world. they've spent almost $18 billion in gambling. is an increase of 6% year-over-year. the economicble growth in australia, which is a sluggish to half percent. looking at what is going on with the equity sessions. >> stocks are returning to positive territory in the last few minutes. a broadly happier picture than the horrible sessions we had last week. it does look like investors have

found something of a sweet spot when it comes to what the federal reserve might do next week. ae payroll number was not blowout number but was strong enough to call for a rate hike. strong, to suggest that the incline of fed hikes will be anything but gentle. particular, the nikkei has seen some very strong gains due to the weaker yen and those payroll numbers. brokerages are making headlines all across the region again. this company is up half percent here in hong kong despite the company being unable to contact theore of its executives, head of its investment banking business and ahead of its investment banking international unit as well. beingtwo individuals are taken away as part of an

investigation. this bank in particular has been one of the most affected by this crackdown in the financial sector. investigated into the shortselling and the margin selling activities. if these two individuals have been taken in, that brings the headcount to at least 10 individuals who have been contacted for investigation of these activities. shortselling. we are not seeing that kind of selling across the rest of the brokerages. with that same theme of the chinese crackdown, the president of agricultural bank of china stepping down for personal reasons amid media reports suggesting that he had also been under investigation for some of

these similar financial breaches that we've seen over the past few months as part of that summer stock selloff. we had opec digging its heels and at the meeting in vienna, petulant in fact. we are seeing a bit of further downside for brent crude today. wti oil down by about 1% in asian trading. rishaad: oil is sliding once more. opec ministers have abandoned any pretense of unity in this chaotic meeting in vienna. cartel will continue pumping until its rivals are squeezed out. why has opec done this? >> the iraqi oil minister said

it best. thedoesn't have a ceiling, so why should opec? else iscut, someone going to fill the void, so there is no point in cutting. it is all for themselves. the nigerian oil minister as keep pumping around 31.5 million barrels a day. rishaad: levy renewal quote from jamie webster. many people sit opec was dead, and they just confirmed it. they try to control prices by controlling supply. their ability to control prices is severely diminished. if you look at what the iranian oil minister said, he said that opec has no ceiling at the moment. the ceiling was token anyway. .t was 30 million barrels a day

and they have been pumping at 32 million barrels a day. you only have to look at the production figures for the past 18 months, they have been pumping above that ceiling level anyway. when we look at it also, koran exports, once those sanctions are lifted, that token ceiling could get even higher. rishaad: this was a real surprise was it? perhaps the biggest prize at the meeting was the rhetoric. but the markets stabilize prices and that sort of thing. at this meeting, the oil ministers from iraq to iran just came out and said let's get rid of the ceiling. rishaad:

thank you very much, then. ben. the china slowdown is causing emerging-market debt sales to tumble. that is the biggest downtrend since at least 2008. sanctions on russia and political turmoil in brazil and turkey have also affected debt sales. the company is buying australian hospital operator. takewill be able to advantage of opportunities from the free trade agreement that has recently been signed between those two countries. expected toion is be completed in the first quarter of next year. president of the agricultural bank of china has resigned for personal reasons. amid media reports that he was investigated. he joined the bank in 1985 and became its president in 2009.

sources said he'd been taken away to assist authorities in the investigation. there were reports of his demotion. --na has been outlying outlining its priorities. making the global economy more resilience to shocks. beijing is shaping the agenda. into theg the yuan basket was phase one. now they want to take on the dollar. the g-20 presidency is what they hold next year. one of the things they have done is that china is going to head up kind of working group to see how they can shake up the global monetary system. how to use the imf's own reserve

conservancy -- currency. china is just putting ideas on the table to see how they can change things. rishaad: what about the more realistic elements? china needs to get consensus, to get the u.s. and others behind them. changes, it will be a long journey ahead for china. even fiveider that years ago when china tried to get in and people quite say china who is to will not succeed at getting this kind of thing on the agenda and making tangible changes? rishaad: do they have the credibility to get these reforms through? if china goes into the g-20 presidency as a kind of ogre and telling people that

they need to take on the dollar, they will face a lot of resistance. there are still things that they need to do to free up the yuan. we know they had problems with the stock market crash this year. there was the exchange mechanism change to restore open markets when they devalue the yuan. rishaad: great talking to you. it is china's turn to lead the g-20. another success in the anti-fugitive campaign. about why she has come back to china. >> she was the former official

in the province in hunan in china. she was charged with accepting fled into she thousand two. it is not clear why she came back voluntarily. according to the commission for discipline and inspections, she came back because she has trust and confidence in the country's leadership. rishaad: that is special isn't it? >> china is undergoing this campaign against corruption. cases one of the top among the working group between the u.s. and china. rishaad: is this a one-off or we going to see more of these? >>-we should see more cases like that. china is doing more cooperation with other people like that.

really having a lot of effort on this anticorruption effort so we should expect more. rishaad: thank you very much. saying the islamic state will be defeated. we will see more on that right after this very short break. ♪

antigovernment protesters in korea are planning more mass rallies after this demonstration in seoul. urging the government to tackle rising unemployment. it abandoned plans to make easier for companies to fire workers. a judge ruled the demonstration could go ahead.

france's national front is on its way to victory. penparty led by marine le is doing well with the party of nicolas sarkozy on second-place. the election comes just weeks after the attacks in paris stoking anti-immigrant feeling. some much needed groceries are on their way to the international space station. it relaunched its commercial delivery service. it should arrive at the space station on wednesday. that launch taking place earlier today. the last attempt at a ended in an explosion. the u.s. suffered a launch failure in june and pressure lost an unmanned ship earlier this year. has been obama speaking about what he is doing

to tackle the growing terrorist threat from the islamic state. he said he will destroy the organization but he is not committing ground troops in the middle east. the speech comes after the shootings in san bernardino. president obama: the threat from terrorism is real. will overcome it. we will destroy isil and any organization that tries to harm us. we will not be abandoning our values are getting into fear. that is what groups like isil are hoping for. will prevail by being strong and smart. relentless.nd by drawing upon every aspect of american power. is designed to and supported by our military commanders and counterterrorism experts. thather with 65 countries have joined the american-led coalition. we constantly examine our newtegy to determine when

steps are needed to get the job done. i have ordered the departments of state and homeland security to review the visa waiver program by which the female terrorist came into this country. i will urge high-tech and law enforcement leaders to make it harder to use technology to escape from justice. rishaad: a socialhe reaction on media. >> many of the reactions are pretty negative. comments coming from donald trump. he asked, is that all there is? fast!d a new president he also said he hopes the president would not spend too much time ripping apart the second amendment. the president did ask the congress to act on gun control and to stop people from on the

no-fly list from being able to buy guns. we also had comments coming from other people. another person said he was struggling to find the theme of the speech. obama outlined the actions that are already being taken. including stepped up airstrikes. he has also urged tech leaders onwork with officials terrorism. other people commenting on the speech. over, i the address is feel like not much will change only inssing terror, restricting freedoms of law-abiding citizens. we have many completely charged comments out there on social media. we are fully into the campaign season in the united states. rishaad: worldlhi is on top of the although number one,

in a category that few would want to cheer. more on that after this. ♪

rishaad: the countdown is well underway to the fed meeting next week with more indications that a rate hike is on the agenda. here are the things that may sway that decision. quacks the week ahead on wall street now that the november jobs report came in far stronger than expected and made the decision all but certain that the fed will raise rates. is heavily focused on the remaining pieces of economic data. a snapshot of november retail sales is heavily anticipated. that will come at the end of the

week. how much consumer spending is rising this holiday season. it will include the black friday numbers. , which is the kickoff of this holiday season. this will fther sde the total that we saw before and it is expected to quote a survey of bloomberg economists to show gains. they will also be focused on the slide in oil prices. near $40 a barrel. down to a half percent on friday. new since opec announced a production ceiling that all but ensures that the price will continue to fall. down to $38 a barrel in just two weeks. finally, congress must pass a

$1.1 trillion u.s. spending bill before its current stopgap funding runs out in order to keep the government operating. preholiday crisis to get those lawmakers working. rishaad: stories making headlines now. small and medium-sized businesses getting the session from property taxes. the economic minister said the idea will be to promote a broader set of reforms in japan. flat's gdp growth remained despite predictions of a decline . it may increase in the coming months. --r is the latest automaker is the latest automaker to issue a recall in the united states. said it is not aware of any

injuries related to the defects. will not be charging owners of the cars do need work. china is set to overtake the -- the the market biggest market for electric cars. expectedlectric cars to be bought in china this year. blastedincentives have dish and boosted sales of electric cars in china. air pollution, india's cabinet has come up with a plan to cut that in what has become the world's most polluted city. nots go to mumbai, that is the world's most polluted city. new delhi is. what are they planning to do here? >> delly is one of the most polluted cities in the world.

the chief minister was asking for policies to allow even-numbered private plate vehicles. he is taken a stance to try to gotten ation and thumbs-up from none other than the chief justice. this plan as it will to a large extent ring down pollution. the government said it had almost finalize the plan. certain license plate numbers will be allowed to run in the capital on certain days. they will be allowed on monday wednesday and friday. the other vehicles will be allowed on tuesday thursday and saturday. sunday will be a free-for-all. recently recorded pollution data

shows that new delhi was the world's most polluted city. very toxic particles in the air. of 100al average micrograms per cubic meter. is keeping anster open mind. sticking his neck out and saying something needs to be done about the air quality in new delhi. rishaad: we're having a look at the markets. this is what we have the moment. advancing stocks now. generally up when it comes to this trading monday. taking back some of the losses that we had last week. the big move on wall street on friday. reinforcing

confidence in what is going on in the u.s. economic recovery. oil prices have been falling back as well. that is it for trending business. i will speak to jonathan gardner for morgan stanley. ♪

angie: it is the middle of the asian trading day. hard at work, that is what we do here in hong kong. goode seeing some pretty games across the region. we are live in hong kong. this is "asia edge." a stalled start to the week in asia, japan leads the regional benchmark higher. oil heads south again as opec abandons production limits.

at terror, obama says the california shooters were radicalized and called on congress to get tough. dollar, down with the china takes the reins of the g-20. claims calls for indonesia's speaker to step down. the biggest loser, australia's gambling addiction the coming the world's most expensive. that story and much more on this monday edition of "asia edge." we are seeing a broadly higher session here in asia. so far this morning, strong gains out of japanese stocks on the back of a