$35. taking off, qantas is a beneficiary of cheap oil, and says earnings are going to double in the first half. shares are up 52% this year, compared with a 9% fall for the kfx. -- afx. a minor problem. you collapse in iron or has pushed producers to the very edge. some are hanging on by their fingernails. let us know what you think of today's top stories by following me on twitter. include #trending business. let's take a look at how markets are doing. we are waiting any minute on the australian treasure on this forecasted budget blowout. here is heidi. heidi: we are seeing aussie shares in should need pairing, gains from this morning -- in sydney herring, gains from this morning. of 1%. 200 by 2/10 we are seeing the banks hanging on. the miners are

continuing to get sold off on the back of commodities prices, not seeing that much of a recovery overnight. shanghai sitting pretty flat. hong kong, we are now in the green, but we have seen fairly volatile wings -- swings in the morning session. we have had eight gains, trendingstories this hour. australia's treasurer has consecutive, for the hang seng confirmed a midyear budget index. that is the longest losing blowout, blamed on falling stretch since 1984. commodity prices, and weaker we could be set to snap that global and domestic growth. losing stretch today, if we can the financial year's underlying hang on to those gains. deficit was at $27 billion. taiwan seeing a bit of strength coming out. while gdp growth has revised down to 2.5%, over the next four we are seeing a bounce in the suppliers. because weeresting, years. the deficit is forecast to balloon by $19 billion. qantas shares jump in sydney had jp morgan and morgan stanley overnights of -- suggesting that after earnings won't more than the demand could be over, and -- will more than double because actually seeing a decline in the of cheap oil and cost-cutting. mind orders -- demand orders expecting profits before tax of at least $634 million. into 16. we are seeing strong gains out the airline regained the credit of those the players. rating last month, for the first

all of the asian companies are time in two years. oil prices resumed the decline rallying today, potentially on the rumor that in taiwan there in new york after a rebound from 2009 lows. is a secret laboratory being built to look into new apple prices fell after iran said it would not be delaying shipment, technology. despite the slump. a number of these names, japan, some of the lower grades of samsung, heavy hitting suppliers crude are already hovering close to the $20 mark. i said to be involved. the international energy agency no confirmation, but that could expects the supply glut to be driving the gains and persist until late 2016. supplies and the broader taiwan index. after hiding out with a look at we are also seeing weakness what is moving the markets. coming through from the emerging markets. japan heading into a lunch stocks a little bit break, not looking too good. heidi: not looking great. lower. we are doing so much better than we were yesterday, however. we are looking at a mixed picture. we are getting some figures ahead of that, the first let's take a look at australian tightening moves. stocks. seeing a recovery in most that is weighing on sentiment sectors, but basic materials and across the region. minors under pressure, oil and gas seeing a little bit of an particularly when you look at japanese stocks. nikkei 225 down by 7/10 of 1%. uptick. let's take you through the big movers in sydney. financial gains ahead of those shanghai.ns in

comments, that we are waiting on on, set the hanging that financial outlook. these are the losers. oil and gas, lng. snap a six day of losses. we will see if we can try to miners, iron or and avoid that. we are seeing a bit of weakness coming through from oil sensitive economies. gold, seeing weakness as well. malaysia down by 1/10 of 1%. sydni stocks are pretty stable following those comments. -- a sitting up by 2/10 the outlook for iron ore is not really improving, sitting at quarter of 1%. about $37 overnight. let's go through one of the we are expecting to see that movers today. we are keeping our eye on apple decline into the mid-30's. suppliers. apple overnight, analysts saying on the upside, bit of a rally across the banks, if you ignore that the p demand -- peak the anc. anz. demand period may be over. let's take a look at oil. morgan stanley and jp morgan are we had that rebound overnight in looking for a decline also. crude, but we had seen wti in the new york section resuming interestingly, we are seeing a bit of a mixed picture. declines. acrossally strong gains

we are down by about a 10th of 1%, trading at 36 .26. apple suppliers. this is an account of a new story that has come out, that apple has reportedly opened a production lab in northern taiwan, focusing on developing new and more advanced display that's it from me. technologies. to you. thank you. this is according to people with knowledge of the facility. it has atng is in -- let's take a look at other stories we are watching today. david has a roundup. david: let's start with qantas. least 50 engineers and other workers, and they are creating new screens for iphones, ipads, was $37 -- as and other devices. that is counterbalancing the decline in demand story cheap as an extensiv -- overnight. expensive steak. the airline is putting out also some gains, and the other favorable profits, into the six months ending the end of this month. major manufacturer in taiwan. coming in as high as $925 million aussie. back to you for now. yvonne: thank you. estimate, the median is that 642. qantas shares looking like this today, up about 10%. it is a little bit closer to the awer end of the forecast, forecast healthy lift for first half profits, let's go very big improvement from what we saw this six months ending

december 31, 2014. closer with angus whitley. as heidi pointed out, oil prices really good to see you. have. -- dropped substantially. when you see cheap oil, and cost reductions, this is always good for an airliner. yes, hello. since the start of the second half. it is a great mix for qantas. savings,m the cost that is what they are seeing. qantas says the higher profits are because of topline growth in the first half profits probably more than double. international and domestic operations. a mixture of a few things -- lower fuel, they have taken let's stay in australia and talk spoke-- bloomberg thousands of jobs, and the expense bill as well. exclusively to the ceo of a minor, sam walsh. the chief executive is really reaping the rewards of a he things considering the collapse of iron ore prices, the transformation program he implemented over the last couple of years. investors are loving it as well. the share price, which was just industry is on the verge of an unprecedented shakeup -- at a dollar a couple of years shakeout. ago, pushing towards four dollars now. this is duemuch of he says the rivals who they thought should be out of the market by now are hanging on by to cheap oil, and how much is it due to the transformation their fingernails. program that alan joyce started? he also talked about the outlook for mining, as we move into reporter: that question. 2016, will it be any different?

qantas of course, we would like to take a lot of the credit for. alan joyce has let's listen into parts of the interview in london. >> the fundamentals for the mining industry will continue. managed lower fuel costs well. the world will continue to develop, the world will continue to grow. it's all very well having a lower fuel price, but qantas has as such, a modern world cannot function without the commodities reaped the benefits. we are supplying. we are part of the solution for obviously, the lower australian dollar is working to attract tourist interest. greenhouse and climate change. low weight aluminium, high qantas is benefiting from that as well. it is really a mixture of a lot toght copper, transmission of factors that are all playing in qantas' favorite the moment. power, titanium dioxide, and another range of other projects. -- products. we are building housing and if you look at the end of year results, it is now turning to departments that are needed. how much money can qantas get back to shareholders, which we are fundamental in terms of consumer goods. said, just add to what he seems an incredible thing to talk about given where they were two years ago. 500 have already given back some of these big minors, ramped million dollars to shareholders. analysts expect another cash reserve -- return to #and at the up production of iron ore end of the year. qantas could be sitting on a few despite the drop in prices,

which some analysts see as a strategy to squeeze out competition. billion dollars of excess capital, some of it will probably go back to let's see how it plays out next shareholders. yvonne: we will watch out for that dividends. thank you so much on those year. let's talk about legal battles between ¢ apple. qantas earnings. we'll talk about the markets -- samsung and apple. now, and the fed. the countdown to the fed. a petition before the the markets that there is a 76% u.s. supreme court at the start chance they will hike rates this week. of the week. samsung has asked that a recent rulings from an appeals court, which apple had one, the overturned. it is 399 billion -- million it appears there is still some nervousness. dollar award to apple. shery ahn is looking at the effect on asia. the ruling was that samsung had china is looking better than what janet yellen used to say. shery ahn: looking better. anded the iphone designs, it is a bit surprising that apple is entitled to a cut of china is one of the most resilient economies here in the profits.martphone pessimismven all the we are seeing over the economy .are, and their -- there samsung is challenging the legal argument on the scope of the design patterns, and this is if you look at the data, what it looks like. industrial and retail showing that a smartphone is not the same as a spoon, or a rug. unexpected strength. as well as some new vigor in their growth drivers that are i leave it there.

back to you. let's go back to new as well. we are looking at the latest data, plus the fundamentals given that they have low australia, treasurer scott boorstin is delivering the external debt, more than $3 trillion in foreign reserves, as annual midyear economic and fiscal outlook. part --nsibly on the well as some stabilization in economic growth. pat to budget balance. we are seeing data showing that i want to stress those. patiently and responsibly. in november, the economy picked up, growing 6.8% year on year. underlying deficit is projected to contract from 2.3%, you can see growth is starting to stabilize. we are also seeing markets being a little bit more calm, the to .7% of gdp over the budget and the forward estimate is updated. shanghai composite deigning 20% government payments is a share of gdp has been brought back to since the august low. the%, as a result of -- gaining 20% since the august low. process with mitigation of the you have to wonder where we see the impact from a fed rate hike. last three months and will pull to 25.3% at the end of the per we could be seen on the exchange iod. rate. already we are seeing the yuan real growth in payments has been starting to fall. reduced from 2%, final budget it fell to a four-year low, as outcome from last year, to 1.8%. we get more hints from policy makers that they may start decoupling the yuan from the dollar. yvonne: that is a new currency a decline in the real growth and expenditure. all policy decisions since the index, really a lot of angst with investors.

how about the other economies in budget, including the cost of negotiations have been more than offset by the savings measures. asia? shery ahn: shery ahn: given how extensively the fed rate hike adding almost $400 million to has been talked about, we are not expecting a huge capital out the budget bottom line. into the average though from the region -- outflow from the region. there are economies at risk. if you take a look at the map, of market expectations that have you can see the red zones are been reported over the last few all at risk. days, and the result of the especially smaller economies, like singapore and hong kong. government seeing what it can control, rather than the things hong kong is heavily leveraged. it cannot. we are talking about domestic critically, we have adopted a credit, high external debt, and measured approach that avoids extreme responses, that would thailand and where we are seeing on householdr private credit fueling across market booms, which could be a risk. consumption and business growth, es like philippines and unnecessarily driving the momentum emerging in the transitioning economy. and india appear resilient. alternative responses have the philippines, solid growth, consequences. net exports and household low external debt, as does consumption is currently more india. yvonne: thank you for that than upsetting -- offsetting breakdown. that's talk about iron ore, close to it is called a following the mining boom. it is in this continues to drive fantasyland price, making it

-- it is important this unsustainable for high-cost continues to drive future growth producers. the ceo says many companies are and jobs. underpinning the fiscal outlook hanging on by their fingernails, is an australian economy that with prices below $40 a ton. continues to demonstrate resilience in the face of strong global headwinds. eating exclusively to bloomberg, growth is forecast to sam walsh says dividends remain a priority, despite the crunch strengthen from 2.5% this year, as a reward for shareholders. with our sustaining and 3%% next year, campaign. it is under two and a half billion a year. then the progressive dividend, projected after. the inclusion of this small then further development, paying realistic outlook on domestic growth should be seen for what it is, and that is a statement off debt, and after shareholder of confidence in our economy. returns. more important, it presents an dividends are very high on the radar screen. even more positive story on jobs, within outward revision to personally for me, they are very the employment outlook, and important. reduction in the forecast unemployment rate on forecasts we have shareholders who are invested in our business that since the budget. put their faith in us, and they recent jobs data indicates even believe that they need a fair these forecasts may be too conservative when it comes to return. jobs. if you look at the model i just are 340 thousand more described for how we allocate capital, it puts the dividend in australians in jobs than one a strong position. year ago, reflecting the at the end of the day, it is a board decision. transition in the economy to

growth and more job intensive but it is my job to make sure we opportunities. have the wherewithal for it to be a realistic opportunity for the government and australian people know the challenges we the board. >> three or four big players, face. that is why we are continuing to maintainec strategy, roll out the national plan for jobs and growth, by opening up trade, boosting innovation, building new infrastructure, volume, maintain market share. it feels like a race to the modernizing the way we deliver bottom for a couple of people. is that what it is? products and services, and >> i think people are looking at working to deliver a more growth it on the market, as a steady friendly tax system, and strengthening the budget. point in time, rather than with interest rates at historic looking at ads and flows of -- lows, a lower exchange rate, ebbs and flows of the cycle. imports, exports and as the lowest cost producer in the world, we are on a and capital utilization on the increase, and unemployment filing, conditions -- falling, projection. if you look at the normal supply and demand economics, it is a conditions are ripe, and this high-cost producers that would come off. transition that is underway to continue. i will allow for comments and then we will go to questions. >> thank you, and welcome to the over the last five years we have seen 400 million tons of capacity come on with the great state of reston. juniors and the minnows. thank you very much for agreeing to release the budget updates most of that tonnage falls into the high cost category. from perth.

thank you from our friends in some people are hanging on by their fingernails. that is life. the media for accommodating the arrangements. the budget update shows we are able to maintain improving legit sooner or later, the adjustment will take place. it is not natural, it is not projector he -- projector read normal for the lowest cost producers to be looking at, how by controlling -- despite global can we withhold supplies? >> not moving the price though, is it? economic headwinds, further prices are going the other way, write-downs, the deficit is much lower. still expected to decrease over estimates. fantasyland, that is what you said in february. we are knocking on the door of fantasyland. government expenditure is now >> i think we are all looking at 13.3 billion dollars lower than anticipated. fantasyland, simply because the in fact, spending in three other sustainable price of $30, it -- three out of the four years is lower. just won't work. from the $30, you need to take five dollars for shipping, $15 as the treasurer mention, for shipping from brazil, which spending of the share of gdp is forecasted to decline from 25 basically means you are talking from a price of $25 .9% this year to 25.3% over the forward estimates which is a australia or $15 from brazil.

sign, despite the need for there is a lot of high-cost producers that are not going to pass at that sort of price spending, that is because we have stuck to our fiscal range. it is not sustainable. discipline. it is fantasyland at that level. >> is that what needs to happen the decision to increase haveing since the budget to watch out some of this excess supply? prices need to go lower? >> it is what happens in every more than fully offset. cycle. even at aright now, price of $39 a ton, there are people who are suffering pretty loudly. a you also said it would be since the budget, some of the major decisions to increase spending have included an lonely place anywhere near $30. it is still looking pretty additional $1.1 billion crowded in many ways here investments in road to recovery it\. program, to facilitate the >> it is crowded. successful passage of the there were a lot of producers accession measure in the senate. that we believed would lead, but they are hanging on by their fingernails. that is life. $900 billion has been added -- allocated to fund the increase that is the decision for them, not for me. yvonne: coming up next, from in the humanitarian program, do provide refugeo here to infinity. a look at one tech incubator, for syrian refugees.

with innovation across asia and $621 million in the world. ♪ additional expenditure on tbs items, new drugs under the pbs, principally for cancer treatment. they have been more than fully offsetting savings in other areas. to offset any additional spending, we have been able to achieve savings principally by improving consistency, integrity, and efficiency across government payment arrangements. for example, we have been able to achieve nearly $2 billion in savings enhanced payment integrity measures, by using better income data matching -- to ensure payments are made.

we are expecting to pay more than $660 billion worth of spending in relation to social security and welfare payments. that is about 0.3% efficiency. there are various other savings listed in the document. importantly, this spending reduction we have been able to after sensible and measures, have focused on improving consistency, integrity and efficiency across the payments and to help us ensure that we continue to go in the right direction as we focus on stronger growth, more jobs, and needs to get the budget back into balance as soon as possible. you are listening to the finance minister of australia talking about this australian budget deficit. the 37.4 billion dollar for the fiscal year through june, that is bigger than the may estimate

of 34 -- 35.1 billion. the government is very confident in the outlook, saying they are maintaining a decline in the budget declines. blowout,alian budget escrow sores. yvonne: checking stories making headlines around the world. secretary of state john kerry let's go over to paul allen in sydney for reaction. reporter: very optimistic. meets president putin in moscow as they try to find common ground over syria and the islamic state. the kremlin has rejected demands by the u.s. and its allies for the budget deficit, to be fair, president bashir al-assad to peaceown, as part of a not as big as we were except -- expecting. we had a $37.4 billion as -- deal president obama has made a rare visit to the pentagon to discuss the fight against the militants. deficit. he says progress is being made, after some 9000 airstrikes. it is all predicated on rather optimistic thinking. we heard the treasurer referred to encouraging unemployment gray. officer william porter denies figures, although there are charges, including involuntary manslaughter. the 25-year-old died in april obvious questions around the credibility of those. from a serious spinal injury suffered while he was shackled in the back of a police van. these numbers also predicts iron or prices of around $39 per ton. riots broke out on the day of his funeral, in the baltimore

the last budget, it was $48 per police department has been -- ton. that might be a little optimistic. band officers from taking leave. last friday, the price at the 2020roposals for $38.10. bycould go as low as $20 tokyo olympic stadium, after the initial plan was scrapped because of cost blowout. 2017, so perhaps wishful two unnamed groups are currently -- competing for the lucrative contract. thinking on that part as well. the growth forecast has also under $1.3geted at 2.5%, downd down to billion. the original design, by an iraqi british architect, was scrapped from 2.75%. all in all, a fairly optimistic read from the treasurer and in july, when the cost sort of finance minister. bug $2 billion. -- above $2 billion. we will have to wait and see what the analysis says of this, pollution, transport and overcrowding are some of the big because it is a very confident reading of the situation. challenges for urban planners do also expect that this will and residents. we hear plenty about smart sittings -- cities, but what is be used sap cursor to get happen? way to make it australia into a broader discussion about revenue and taxation reform. yvonne: we talk about those in hong kong, and new program is underway, supporting innovative reforms, the australian ideas for cities of the future. we spoke to one of the startups. joining us now is dan fisher, government really has struggled to pass a number of budget the asia managing director at

savings through the senate, infiniti, and he helps oversee which does lack a majority. it does beg the question, are the program. great to see you. they going to be a look at these through, and get the budget to a thank you for sticking around. surplus. reporter: their hands and then i want to talk about this. we are seeing more and more corporate affiliates start in asia. tell us what you decided to respect.hat launch this program, and why smart cities in particular? thank you for having me. getting cost cutting measures through the senate has been extremely difficult. it contributed to the downfall the entrepreneurship is in our of the previous treasurer. three the numbers look like good is the government has made some savings. dna. we have done a world-class we heard the finance minister say just before that spending is technologies, such as around wiremonitors, fly by $13.3 billion lower than it was in the may budget. we are looking for more detail steering, and entrepreneurial about how they managed to achieve that. decisions like moving our global office to hong kong, the first before we came on air, scott auto manufacturer in the world morrison was describing the task to the in hong kong. we wanted to nurture the of getting the deficit down. journey, holiday car ecosystem or entrepreneurial ecosystem in hong kong. we got the best way to do that he says the destination is was put a program together. clear, the route is clear, but greattnered with eight -- you get backseat drivers asking, are we there yet? yvonne: we are going to take a partners, and created a program called thunder series, which has

look at the road ahead. the lab at home for thank you so much. that's stick to sydney, ivan entrepreneurs when we are not here, above the flagship calhoun joining us, the chief dealership. economist at nav. secondly, we created an accelerator on smart cities. if i can get your immediate reaction, the budget blowout we have had eight startups over better than expected that we are 12 weeks, bringing amazing ideas and innovations to help improve still seeing a lot of pressure. the city. i actually think it is finally, we have had a speaker series, where we have had ceos not that bad. i think everyone is talking and founders from around the world coming to speak to our about it being optimistic. startups and staff to help mold i think it is realistic. the budget is bringing to their ideas for future business. thene: we really have seen account the much weaker iron ore startup scene aaa three years. prices, we know about that. what makes hong kong in particular such a fertile environment for tech and i think that is the tail end of innovation? the downturn in the terms of trade, which we have been i think five years ago, suffering in our budget for the last three or four years. i think the next couple of years, the transition in the there was not much of a started seen, and now there are 42 economy is occurring. accelerators including the employment picture is a lot ourselves. i think the government is better than forecast at budget time. unemployment is now forecast at starting to nurture it, but we are also making people feel 6% -- it is already below that. comfortable that

entrepreneurship is an alternative to corporate life in jobs have picked up. asia. i think the talent here is but you need the they are going to get surprises coming through in the non-mining economy. infrastructure and soft skills to make it happen. it is accelerated like this, where we get expertise from the my bet would be this is probably executive team, and our partners the last of the negative news on australia's budget. it is not a surprise it is like microsoft, helping create bigger. it is not quite as big as -- it the streams into reality. yvonne: there is also some people with concerns about the is not that much worse than people were expecting before lack of capital out there in hong kong. this announcement. yvonne: right, talk about the a great place for the early stages. aussie dollar. at the time of the may budget -- budget, they assumed the iron but when it comes to getting follow-up capital, it could be ore prices would be $48 at an difficult in hong kong. exchange rate of $.77 u.s. tell us a little bit about how your program can bridge the gap. . i think the thing that we heere do we see th t bring is -- we are here to aussie dollar going now? guest: we think it is going support the startups to see their vision. down. we are giving their the prices have fallen, it relationships and soft skills to normally correlates with the commodity price trends. make sure business plans are robust and rocksolid. and then in our own context, we i would be one pressure of pushing it down. are being over 200 high net we are expecting china's currency and asia's currency worth individuals to the lab,

will continue to decline in the months ahead. that are seasoned investors, that will tend to the aussie that can support the startups. as well correlated. recent accelerators have shown and putinterest, we are looking for it to fall. remember in the forecast they assumed a current exchange rate. amazing equity into these when they did the budget, the businesses. aussie was at 77. i'm confident that tonight we are going to get amazing funding for these guys to turn the dream into reality. yvonne: sure. that was a technical assumption. so how important is it to really that is how they put it support the local startup scene together. i think on the iron ore, you are in asia? right. it was forecast for already for 48.ade -- forecast you have any plans to do more in the future? yes, we started here but iron ore prices have fallen because this is the global head from around $180 a few years ago office, hong kong is our base. we will roll this out in other to now $39. parts of the region. we are getting towards the end other regions have also of the decline, even if it went committed to this. down another $10 or $20, it is going to be a lot smaller than certainly, it comes from the top. he iss, the president, the impact on the budget that we have seen so far. you are looking for fascinated by the program. he thinks it is fantastic to showcase our entrepreneurial surprises in the nonmining and help create sector. does this mean when it comes to the government, they may

motivation and inspiration for actually be about the reach the the ecosystem and our staff. ifis committed to saying not goal of a surplus by 2020? guest: i think so. if your, the numbers, it is getting launched in other it is one. express them in billions of we will see this program dollars, they sound a lot bigger. we are talking about 2% of gdp globally in the near future. yvonne: and you are standing in deficit this year. that beautiful lab behind you. that is not big on the world scale. i do want to talk about your it is higher than we would like program. how does it differ from other incubators out there? it. what makes it stand out? in australia, we have always i think firstly, a lot of been well served by having very good public finances. use fiscal us to policy whenever there is a downturn. as the aim about getting back the corporate accelerators are great. it is great to see support. towards a surplus as soon as possible. ours is a little different, i think there is a reasonable because as i mentioned, the lab is right above our flagship chance, but even if we are at a dealership. deficit of $15 billion, that is that gives the opportunity to only 1% of gdp. comes up with ideas and innovations that they can pilot that is a very small number on a in the real world immediately. global scale. some of these guys, like ivan calhoun, joining us virtual-reality software, or psl from national australia bank and sydney. take you for your analysis on we can actually this budget deficit of

try out it downstairs in a australia, coming in at 37.4 retail environment immediately to give them real world data on what is happening, which i think billion aussie dollars. coming up next, solar strategy. is unique. why the world's leading maker the second thing is our speaker series. we bring ceos and founders from wants to say goodbye to new york. hong kong and around the world ♪ to meet the startups, and mentor them, talk about their successes, and more portly, their failures -- in portly, their failures to learn what it will take to succeed. i think those things make us different. yvonne: thank you so much, asia,g us from infiniti the managing director. coming up, a classic designer had to india. we have the details from mumbai, when "trending business," continues. ♪

yvonne: the world's biggest solar panel maker may be packing its bags and saying goodbye to new york. the founder wants to take it private, and he is willing to pay a 21% premium to do so. stephen is looking at this for us. done aally have turnaround from earnings, but the stocks continue to plummet. reporter: the sentiment in the solar industry is pretty negative on wall street. especially towards chinese ones. yvonne: we are watching shares there was an over supply glut of capacity. after reports that the world's largest solar shmen- company will be cutting up to 7000 jobs. toshiba is planning to downsize

or in the third quarter of this year, yet the stock price, in its consumer division and enter the final stage of planning on the last month, down 17%. monday. it may offer early retirement or relocate some and plays. they are struggling to recover from april until december 11, it was down 28%. from one of japan's biggest accounti s a lot of these companies, which after boosting buybacks and dividends. increasing payouts by 20%, it announced it was considering privatization -- this company is trading at five times earnings. expanding the stock repurchase program from $12 billion to $14 billion. rewards follow concerns aircraft trina and 11 times earnings. they don't have the recovery sales maybe faltering, after a reflected, so they think in the stock price. market one of almost a decade. some ofgn house behind the founder and chairman of the world's most famous sports trina is saying he will offer cars is heading to india. 21.5% premium to the last let's go to mumbai. closing price before last night's big gain. really great to see you. we are talking about mahindra. he will take the company absolutely. the mahindra group, which has interest from tractors to i.t. private, following the biggest outsourcing, has agreed to buy solar company, at 1.0 7 billion the italian deal. u.s. dollars. the value has been at a quarter why not, the stock is stephen ek of the closing price. you. coming up next, clear skies ,nder the agreement announced ahead.

double profits will together with the outsourcing, mahindra will buy 76% of the because of cheap oil. we look at the numbers, when "trending business," returns. stay with us. ♪ share,, at 1.1 euros per which works out to about $28 million. it will make an open offer for 24% at the same price. trade resumed after a halt due to the fall. offers because of the that had been given for the shares much lower than the closing price. the italian company has been lossmaking for years, partly because they brought designs in-house rather than independent designs. mahendra thinks it will eject about 20 million euros into the designers -- inject about 20 million euros. we have a sound that coming in from the company.

>> our belief is that our 800 customers, in 90 countries, will benefit from the styling and italian capabilities, european capabilities of the company. india was -- bloomberg tv in india was the first to report this. it is a good deal for the company. back to you in the studio. yvonne: thank you so much. that is it for us at "trending business,"edge" and the big stoe day so far. ♪ 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.

>> 54 journalists were killed in 2015 according to the committee to protect her to rejoining our four senior correspondents. i will introduce them to you and following their introduction, a report by each from the field. clarissa ward is based in london.