as investors weigh the first decline in u.s. stockpiles in 11 weeks. refiners usually drain tanks around now, to reduce the tax burden, which is calculated on supplies at the years and. nd.e saudi arabia leads opec and maintaining output for market share. the first shipment of iron ore, has left western australia, bound for south korea. targeting an is eventual output rate of 55 million metric tons per year, and a time when iron ore prices are at historic lows because of oversupply and slowing demand. the first shipment has been bought by a steel mill. we'll look at what is moving the markets, a very easy day. japanese traders had to lunch. it is a much-needed break for the nikkei25.

they have seen selling for a third day in japan. a lot of weakness from the exporters, the yen really rising. in toshiba, denying it was reports that it may pull out all manufacturing. ppi number coming through in japan, which was -- the shanghai market has been .ired today, up by 4/10 of 1% it is stronger by technology companies. regional index between positive and negative today. the hang seng has been flat at the moment. korea down by 1/10 of 1%. let's look at the movers in the region. we have been watching a lot of those energy players. china, six ipo's yesterday, for today. three of those are hitting the record daily limits. china energy engineering, a

little bit small, but it has a the -- it has fallen from $1.59 ipo price at the lower end of the market. also, we've been watching the energy producers. the casinos are looking pretty good in hong kong. it is pretty bullish on the outlook for makoto -- macau casinos. it has not been a good 2015 for casinos. in australia, but of a comeback from these miners that been heavily hit of the last couple of sessions. they have been trading at a 10 year low. bargain hunters taking up stocks today. fortis q metals still being hurt by the weaker iron or price. yvonne: thank you. china has lowered the growth targets, but doubters still fear that they are too high. let's bring in china economy editor knock on scott.

we were talking about this earlier. wants growth by 2020, but they seem to be doubtful about the numbers. that's right is key to his long-term goal. he may average growth of about 6.5 per year, but a third of the economists we surveyed say that will not happen next year. the median economist survey for 2017 says that will not happen then, either. are quite a bit below what xi would want. if wead case scenario, see wobbles around fed liftoff, and no real pickup in global demand, it could be 5% next year. pretty they are in a tight spot, interest rate cuts since november, not much to

emulate growth. where does that leave the policy? reporter: they had stabilized growth, and that is something in itself. but each time you lower interest roots, -- interest rates, there is less room to do it again. there is still room for benchmark interest rate cuts during this transitional phase, where they are moving to some sort of corridor guidance. they can keep bringing that lower. there is scope to bring down the amount of cash are willing to lock away. that is around 17.5%. they can keep lowering that. side, there's still money to be spent, although the government is looking -- typically reluctant to run big businesses. if they continue that reluctance, it might be less fiscal room then people may be expect. yvonne: and that is what a lot of the economist say, eight want to see more of that, but there risks and there might be a bigger credit bubble. reporter: that is the big

overhang. they don't want to replicate what happened last time. they created more access capacity. they wrapped up roof -- ramped up growth, but they created a debt pile. they need to keep enough growth that they can keep reforming the economy, but not pick up this huge level of debt. yvonne: knock him scott, thank you. in other news, some relief for volkswagen today, amid the fallout from the emissions scandal. claims of illegal discrepancies shown readings has engines have proved unfounded, and it will no longer face fines as high as $2 billion. shery ahn is looking into this. it looks like the issue of the co2 discrepancies was not as big as initially expected. in november, vw said as many as

800,000 cars could be affected by this. but now we are hearing that an internal investigation has found that almost all of those vehicles meet the listed requirements. was initially estimated, as much as $2.2 billion, could be coming down. willis described as these slight aviations, found in only fraction of the cars, the cars in europe will be retested. vw has not confirmed how that will affect the bottom line. they say it depends on the results of the remeasurement. investors are reacting pretty positively to this announcement, with the stock jumping after vw told us about this new development. keep in mind, this is only one vw's emissions scandal. they still have to deal with that cheating software, about 11 million diesel cars, not to

mention the art additional questionable software's. 11 million cars. it still could add up to billions of dollars in fines and losses. yvonne: not to mention the damage of a legacy brand. to investorsalking and reporters today. what should we expect that of them? is making ane ceo appearance. this is only the second time he will be talking to shareholders and the press since the scandal broke. people are very focused on what he has to say. this could be the first significant in-depth look at the scandal. so far, the company has provided little information on the people and processes involved in making this diesel vehicles, and providing inaccurate co2 data in europe. vw is expected to provide those of the internal investigation into the manipulation. yvonne: thank you so much.

checking on some other stories, we are following. hope you electric has found a big spike -- tokyo electric has found a big spike in radioactivity levels in groundwater is. levels, more than 4000 times higher than at the same time last year. nhk says they do not know why the readings seem to have jumped so much, as contamination in the water nearby is unchanged. that indicates the water is not leaking. general electric is in advanced talks to buy drilling assets from halliburton. to $5ould have assets up billion, but a slump in oil prices may have affected the valuation. halliburton is scaling up to -- the mergerrust may not be completed until next year.

sources say petrochina company produce about 1.6 billion cubic meters of yes this year, -- gas this year, which is one billion short of the target. they are also said to be about 30% below capacity. singapore's iconic hotel being picked up by europe's biggest hotel operator. they have clinched a cash and .hares deal worth $2.9 billion this is a big deal. it is.r: this will allow them to expand the table. there are moving more into the luxury segment. they already own things like soft retail. now they have brands like was -- swiss hotel, fairmont, and iconic offerings. yvonne: what is driving this activity? reporter: they really want to expand new offerings to fight airbnb,etitors, like

which is not even listed yet. but they have a valuation more than double what starwood is worth, a company that has been around for a long time. , especiallye people young people, are choosing airbnb. they see it as a threat. yvonne: what else could be a target? reporter: a lot of companies are out there. people have named hiett -- hyatt, starwood, reportedly. if they don't do a deal, they can become a target. intercontinental hotels has received takeover interest. not seriouslyre exploring sl, but people expect something to happen. forne: we will watch out that. thank you. the u.s. may be investigating another alleged on reading scheme that could involve more than $9 trillion. regulators are examining possible manipulation of debt

issues by the world bank, and various government entities. bloomberg news is tracking this for us from washington dc . he spoke to angie lau earlier. guest: this seems to be, from what we know, a new front for the justice department, and aese are bonds issued by whole range of issues, including the world bank, asian development bank, fannie and freddie in the u.s. a very large universe of bonds. angie: is there something that is causing these investigators to say, something was amiss here? reporter: we don't have that detail at the moment, but as part of these previous investigations that the justice department has been conducting, they have been requiring banks to share all kinds of documents, chats that traders

add bangs are having with one another. what is possible here and what has been the case in other investigations is that as part of those cooperation agreements, the justice department has found evidence in new markets. we saw the interest rate investigation sort of role into an investigation into the currency markets, which may have turned into another into otheron, markets like precious metals. there's is also an investigation into the trading of u.s. treasury bonds. of aems as if this is sort new development in that process. next,: coming up reinventing the wheel. we will meet the taiwanese company famous for high and racing bicycles. "trending business," will be right back. ♪

yvonne: checking stories making headlines around the world. india and practice and have agreed to restart peace talks that stalled after the election last year. foreign ministers of the nuclear rivals may be announced in islamabad, but gave no timetables. the most senior member of the government visited pakistan. the talks will talk about violence in kashmir and ways to prevent cross-border terrorist attacks. type police investigating the u.s. investor to bangkok after complaints that if the -- speech he made last month offended their laws. they said washington was concerned about prison sentences given to tie civilians by military core. police said they had to act on the complaints, but he will not face charges because of his diplomatic immunity.

the ni duration of argentina's new president is in disarray, with the outgoing cristina kirchner refusing to attend. her office says she cannot hang the presidential sash on her successor if they say that her term and settlement -- midnight. -- and at midnight. waybicycle has come a long since the days of wooden wheels and clunky iron frames. suspensions, breaks and electronic gears are some of the more recent inventions. a taiwanese giant makes more high-end bikes than anyone in the world. we ask ceo about the next big like innovation. guest: every year we go to this with my engineers and

designers. every year we find something other people do better. so we come back and think about how we can do that. people say, what is new? and they say, nothing new. whatever we can do. and they say, this is how it has been done. proud.very andpent time in my room, everybody says, maybe we don't have a job. products, no more innovations. we look at everything we know, and some people think we are done. but we are not done. the future is to come up with a theory. then i developed a solution. that is how we make the best bicycles. we talk about solutions. 40 million people have differing usage. i'll give you an example.

music has been there for years. how many notes are there? but still, every day we hear new songs and new music. it's amazing. even with string notes, people can make a better song. of course, we can come up with better bicycles. reporter: what will be the next driver of growth? guest: the whole world, according to my cut relations, only 18% of people are riding bicycles. i excluded people about 80. only 18%. cycling is good for health, good for the environment, everything. and there are still 82% of people who don't know the benefits. i am a missionary. i try to give good news and save

them. market wise, it feels very big. for years, people are thinking half the population is women, we give them different bicycles, and baskets. very ladylike. but from an hundred years, people are thinking women should not ride bicycles. they just get a smaller men's bike. they want a sports bike. for us, we think that is wrong. was the ceo tony lo. checking some other stories now, china has outlined a two-year plan to overhaul the systems for initial public -- public offerings. under the current system, the securities regulator acts as a geek keeper with a seven person committee examining each

application. the new system with the offerings go through a registration process where questions of supply and timing are left to companies in the market. officials say the reform will be gradual, and will not lead to a big increase in ipo's. the plan needs approval from the national people's congress. thegroup is being sued by failed hedge fund over trades made during the financial crisis. millennium global emerging credit funds lost over $1 billion before it was wound up in 2008. liquidators are seeking $53 million in damages, saying citigroup terminated positions to quickly and at rates that did not affect the market. citigroup admits it miss valued traits, but says it is, "vigorously defending the suit." going to the bottom market to finance the $23.3 billion. these that will be the fourth

biggest corporate debt offering. they have issued a record $1.3 trillion in debt this year, that is ahead of the expected fed rate hike next week. coming up next, these that checks. a proposal to make it harder for skilled indian workers to get jobs in the states. live in mumbai with details, after this break. ♪

yvonne: you are watching "trending business." i'm yvonne man. it may become difficult for indian workers to find jobs in the u.s., after two senators called for a significant reduction in the number of specialized skilled visas. it to mumbai for the details. great to see you. talk us through the proposals. reporter: absolutely.

surprising move coming in yesterday. those two senators, bill nelson -- trying to reduce the numbers of the visas from 15,000 to the current 85,000. it is also proposing to strengthen the security department by proposing that the scrutiny process to ensure that drawing visas to those higher wages than others. senator nelson saying that the proposed visa program is not in his own words, being misused. -- why issurprising this surprising? this is going to be an election year in the u.s. there will be a fresh government, when new media legislations are likely to be taking a. the immigration bill, has been waiting for allowed to get past. a month before, two other

billors, introduced a stopping companies from hiring each one he says -- the thesis, if they employ more than 50 -- i while ago, we had seen the cost of these as being given out to indian companies. of the 85 thousand visas, 20,000 were handed out to students who had technical qualifications and studied in the u.s. that number has shrunk even further. yvonne: could be some more barriers ahead. thank you. ont is all for us here "trending business." edge,"ned for "asia where and he will talk about

today's stories. -- angie will talk about today's stories. ♪

♪ >> from our studios in new york city, this is "charlie rose." charlie: we begin with republican presidential candidate donald trump's controversial statements. his campaign stated that all muslims should be barred from entering the united states. he repeated the statement on monday evening at a rally in south carolina. mr. trump: donald j trump is calling for a complete and total shutdown of muslims entering the united states until our country's representatives can figure out what the hell is going on. [cheers] charlie: democrats and