yvonne: good morning. i am yvonne man. and this, is "trending business" . in sydney, melbourne, and singapore. first, here is what we are watching. toshiba falls over 10%. the biggest drop in seven months. the leading loser after the nikkei news says it may post a $4 billion loss this year. ndai is missing its sales

target for the first time since 2008. it will have to sell 50% more than normal this month to reach their goal. on red alert, the smog blanket facing beijing again. particle readings are more than 10 times the agreed safe level. let us know what you think of today's top stories by following me on twitter. #--t forget to include our trending business. and malaysiaiwan, have just come online. here is david with a look at what is happening so far this morning. a continuation where markets left off on friday. on the weekend, there was a selloff in the middle east on the back of oil prices plunging further. when china opens up, we're looking at a health care shop. pollution is an issue there. new zealand so far is holding

up. everything else is lowered. many markets are opening up including taiwan, malaysia, and singapore. in japan, a continuation of the selloff from the afternoon session on writing. newsmarkets digested the of the boj that it was much a do about nothing. nikkei 225. every single sector is lower. at the moment. industrial, tech, consumer services. we will see how things change as hong kong opens up. let's check in on oil. brent, 36.43. lack of positive news. nothing concrete from the meeting between arabs exporters. a surprise upset in the best in the rigptick

count in the united states. december will have to be a blockbuster. toshiba swamping in tokyo this morning. of a record loss. the company has been strongly after admitting misleading investors by filing false statements and it may announce a turnaround plan as early as today. reports: there are including from the nikkei that toshiba could host -- post a record loss. about ¥500 billion. that is related to cost incurred during the accounting scandal. earlier this year, it came to light that toshiba had been having itsbooks --

books for nearly seven years. the $4 billion figure includes 1.6 ilion dollars in restructuring costs. say that it is going to hold a board meeting today to discuss restructuring measures. if that is approved, you could as large ashich are those reported in the media. reports have been swirling for several weeks about a possible rebound clamp coming out today and what it might contain. reports about thousands of job cuts or reassignments. also reports that toshiba could create a subsidiary to manage its chipmaking business. profitableost division. toshiba has been trying to streamline its businesses to shed the less profitable ones. it is been known to be a consumer products maker. it has made musical products,

electronic consumer products. ones that arethe now bringing in the most profit. they are looking into slim lining the company. it will need to raise some cash for that. two australia now where shares of ground resorts are surging about 3.4% in sydney after james bakker announced he was stepping down as director. let us go over to paul allen. his position was telegraphed months ago. this morning's move really talking about what is going to happen next. he stepped down as chairman. there has been a long transition period to smooth him into the chairmanship role at ground.

-- at crown. this is all being seen through the lens of the media reports last week when we heard consolidated press which was in talks with private equity firms about of crowntaking part private. since they put out a release that talks were held him but not of this nature speculated about in the media. fromday's announcement james packer, there was a line there where he described crown as his biggest professional priority. we take a look at crown shares, carrying on the bounce they had late last week. on the news that packer was going to be stepping down. an unusual takeover

fight that is heating up in corporate china. vanke seems to be heading or a showdown with its largest investors. with a twist and turn of this drama. >> we had a back and forth over the weekend over the chairman of group saying wait until monday. we expect the company to come out today or the coming days with a plan to send off this hostile advance. this is unusual in corporate china that these things have spilled over into the public sphere. which isis vanke china's biggest homebuilder. the world's biggest. it is a major player not only in china but from a global perspective as well. that is why investors are watching. baoneng is the largest shareholder. it is making a hostile advance

one that the top executives have rejected. they say this company, if it proceeds with this hostile takeover would ruin the credibility and the credit rating of the vanke group. they are think it has a solid reputation and they believe in the power of the law -- or that it follows the law and believes in the power of the market. the shares of vanke are suspended in shenzhen and will remain so until february 18. it will not seek an extension of analystsh has led many to say that they are lining up a third party who may swoop in and send off this hostile it. so far, these ishares which are up 70% on the month are suspended today. us take a look at some of the other stories we are watching today.

here is the roundup. spain, five years in the making, u.s. lawmakers have finally approved changes to the governance of the imf which will give a emerging market economies a voice. in 2010, the imf board approved a plan to increase voting shares of emerging economies in double the amount of permanent funding available. on friday, president obama signed up on the 1.1 trillion dollar changes after the u.s. senate finally ratified them. six inurrently ranks voting shares at the imf behind the u.s., japan, germany, france, and the u.k.. anda will jump to third india will climb to eight in brazil moves up to 10 spot. delays in approving the 2010 plant prompted local criticism of the u.s. and may have helped push china to establish the

asian infrastructure investment bank which is a development lender similar to the world bank. mchinae been told that che has gone back to syngenta with a sweetened takeover offer. the original offer was rejected. the state owned company has now come up with a two pronged approach. it has reportedly offered to purchase 70% of syngenta now with an option to acquire the later the other 30% at a later date. -- the other 30% at a later date. the structured repurposing what na to work with syngenta up before taking over complete control of the company. if the deal is expected it would be the largest ever acquisition by a chinese company. kuroda -- a boost of bond mobbing bulls.

20 year yield fell to their lowest level since february. boj allow their program to stay unchanged, to as low as 12 from the current level of 10 years. buy $2.5of japan will sf.lion of et on the website, we are looking at asia -- as revealed by google. show, up later in the heading uphill. we will ask the cheap economist how fast they are going to boost rates next year. i work at why developed markets

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yvonne: asian declares are on the decline with the oil slumps. that is the focus after last week's fed hike. joining us live from melbourne. it seems like the market is overshadowed by the fed right now. will we see the rally? it is going to be a lot of volume. the hardline is that there are

some downsides to energy prices, that is well played out. thety valuations, despite maternity -- in north america, -- risk asset classes. that is the thing to highlight. not as good as two years ago or a year ago but to deploy a risk asset takes a lot of sense. high-yield is a different discussion. equity valuations are compelling. we are expecting some consolidation later this week. yvonne: a little helper rally possibly. i love the name of that. it will be interesting to see the post fed reaction. and the fm oct members split on what will happen next year with these great rises? george: exactly.

-- not toone oversimplify. the market cannot handle another rate hike. they need to get a -- 280 real fund rate. real fund rate. dichotomy with certain fed member saying go harder and others saying do not do that. do another full rate hike, it is way too much. the dollar strength will worsen. it is all about being measured and considered. 2% said statement of a inflation target looked too ambitious. most people should have a much

lower inflation target. for theless, the scope u.s. sovereign market to selloff in the first half of next year. if zero sum game -- when those people are selling u.s. treasury, they are buying sovereigns in europe. the difference going on in those two areas. that is the thing to highlight here. one sovereign market selling off a little bit in the u.s. -- they are buying sovereigns in the -- in europe. yvonne: rising rates and falling prices. historically, when it comes to fed rate hikes, you are mentioning emerging markets. for do signal buying developing nations. thisu see things different time given the fact that we continue to see a slowdown in china as well as falling oil prices? will the stories remain the same next year? george: in part, yes. hurtdollar strength -- has

emerging markets. bad for corporate emerging markets. unfortunately, for emerging markets, their sovereign markets will take the heads. the u.s. dollar strength come if it really accelerate -- reacc elerates. years, the u.s. dollar will continue to strengthen. the volatility of the market and what could hurt credit markets and option markets and equity markets is how the china -- the chinese react. it creates uncertainty and does not help the longer cause. we acknowledge there is a slow growth pulse. the other emerging markets. the intervention -- is the left feel that we are not looking for. u.s. dollar strength to broadly

continue and that seems to be the best of both worlds. it is steady as the europeans continue to stimulate and of the japanese have no choice but continue to stimulate regardless. to the stories making headlines around the world. these are live pictures of beijing which remains on red alert. his second major pollution warning this month. juliette: a blanket of smog covers a vast area of eastern china and it is not expected to clear before tuesday at the earliest. the u.s. embassy says the particle rate reached 323 this morning which is hazardous. 10 times the internationally agreed safe limit. badghai is marginally less

than in beijing today. 80 people are still missing after a fairy sink off of the indonesian island. fiberglassay the boat was carrying 122 people when it was hit right three major ways during a storm. 39 people were rescued. three bodies were rescued. many of indonesian islands are linked by boats but the ferry system has a poor safety record. have olympics may increased its budget rate. blame.ction costs are to and counterterrorism measures. for nexts the budget year's rio games. tokyo has yet to approve the main design for the main stadium after the original one was wrapped by the prime minister for being too expensive. yvonne: chinese hackers may be

stepping up cyber attacks on taiwan's opposition parties. we will be live in taipei to talk about this fallout. ♪

yvonne: the computer security firm buyer right shows a series of targets have been hacked in taiwan and blames a state group in china. fireeye says the targets included unnamed news outlets. otherwise staff at the opposition party had their e-mails infiltrated. we are just less than a month before this election. what is going on here? : january 16 is when taiwan goes to the polls.

they will be electing a new president and legislature. the dpp is firmly in charge of the presidential poll. that is of interest to the chinese art fireeye says they have -- a group working in china, it's state-sponsored. they have attacked news organizations in taiwan. what is interesting about their method is that in the subject line of the e-mail come they were purporting an update from the dpp. democratic progressive party, the opposition party of taiwan. they have linked that attack to the chinese. elsewhere, the dpp itself, staff members there have told me of their own account being hacked. in one case, a staff member said her own gmail account -- and the bbb being under attack from the chinese -- the staff member

found that her account had been if -- infiltrated. and e-mails from one staff member to another had been spoofed. saiderson i spoke with they noticed some inaccuracies or inconsistencies in the writing style. they found that it was not the other staff member writing it. -- any, the attackers e-mails coming into that staff member would have been forwarded to an external accounts. that is quite serious and a detailed attack going on. a former u.s. diplomat to taiwan who is now working as an academic in taiwan has also been given notifications from google hem his gmail account that

may be a target of a state-sponsored attack. google does not say which at stake but given this person's position and their role within , the indication is that it could be the chinese as well. yvonne: interesting to see why the bbb is being targeted. as we had into the elections, the you expect hacking attempts to continue? tim: it is likely. the government of china wants to do -- wants to know more about the dpp. bring awants to slowdown to the connection between the other party and china. understand want to more of what is going on and influence the outcome. of new into the wilds

theh wales with organization that created bhp. the markets of shanghai and hong kong get underway. ♪

yvonne: top stories trending at this hour. asian stocks start the week on the slide. shares decline in tokyo and cindy -- and sydney. oil lost more than a third of its value this year. did she buy shares plunge more than 9% in tokyo ahead of a board meeting on its restructuring plans. the company confirmed it expects to report a large lost if the plans are approved.

the nikkei says net loss ending next march could top a record $4 billion. toshiba shares are down 49% this year. in sydney, hacker steps down as the director. crown is his top priority according to him. his resignation comes after -- is considering returning the company's private assets to corporate ownership. in shanghai and in hong kong. david: lack -- there is a lack of risk assets. people are on holiday and volumes are them. there is little to trade on. reaction today not in the equity market.

just to give you a snapshot of what is happening across asia. the pre-fedbelow rally level. we are down about 7/10 of 1%. i mentioned currencies. let us look at the chinese renminbi. with the pboc setting the reference rates. stronger for the first time. 648.11 is the level right now. check that out. a lot of these banks are scrambling for yuan funding. traditional sources of you on funding. retail investors. looking --ied up considering the -- of the currency.

these conditions will likely persist given the outlook for the renminbi which is some say is one of the most expensive currencies out there. bringing it back to hong kong, 6.5%.ing to watch -- three times the level of the similar rates that we have on the chinese, reflecting the scramble to get that yuan deposits. meeting of arab oil nations has ended with predictions that prices will recover. crude has been trading near a seven-year low. direct says it will rebound because it is too low and it is hurting producers. about this meeting. they seem very optimistic. they are optimistic. you had a rack saying they see

prices rising on fundamentals. not ton had qatar saying be too pessimistic about oil. they are the gulf producers. by this dropected in oil prices. if you were to speak to someone else like venezuela, you would get a different story. little bit of optimism coming from those countries. on the whole, if you look overall, there is still a glut for brent areces still near a seven-year low. some are forecasting $25 a barrel for the first quarter. yvonne: wow. $20 a barrel for the first quarter sounds quite that. we see below $40 a barrel already. what else we consider for oil this week? ben: you have traditional data.

u.s. inventory data on wednesday. investors will be looking for some positive signs there. last week, we saw another increase in production which was not good. we also had the opec world outlook on wednesday. it will be a medium to long-term outlook. look for some optimism there. the data at the moment is showing no good signs for oil. rig's in the u.s. are rising. they have risen since july. if we look over to the middle east, we had some data showing that saudi arabian crude exports in october climbed to the highest in four months. they will hope for something positive but it does not look like it at this stage. indonesia -- set to reclaim a title it does not want. repeal is likely to replace

the ringgit next year as asia's worst-performing currently. this is not a race anyone wants to be in. a race to the bottom. haslinda: the race to the bottom. for the rupiah, it is all too familiar. it was the worst currency in 2012 and 2013. analysts are betting it will reclaim deposition next year. a 6% drop from november until the end of next year. twice as much at the ringgit which is currently asia's worst performer. they are predicting the rupiah will hover at 15,300. if you are wondering why, there are three reasons. falling commodity prices which are detrimental for indonesia which relies on commodity exports. also, tighter u.s. monetary policy. the fed rate hike prompting

capital outflows from emerging emergings like -- countries like indonesia. they have fallen 10% year to date to the lowest level in two years. that means indonesia will be limited in what it can do, should the rupiah, under pressure again. indonesia is between a rock and a hard place. yvonne: what about government efforts to boost growth? haslinda: it will take time. he has taken steps to boost growth. the cabinet has implemented rules to transform international investment. the world bank says indonesia is gdp will slow to 5.3%, way off the 7% he promised when he was campaigning for the top job. to be fair, it is not just because the domestic rose but

also external fx. the bright spot is local demand. if that recovers, it would help the indonesian economy. the bank of japan has a new plan, find something that does not exist. the bank will buy $2.5 billion of etfs. such a thing has never existed in japan. etfs for thebuy time being. most of the measures are quite technical. i agree that they are a little hard to understand. the objective is to ensure the smooth running of the easing program and that its impact is spread wider and deeper across the economy. yvonne: investors found the whole thing hard to digest. the yen fell immediately after

the announcement but reversed the track minutes later. morabout is. to see you. in terms of the equities front, japanese stocks with sod. >> it was a very confusing day on the market on friday. to put this in context, what was going on was that the bank of longereeting was running than usual. that tends to get investors nervous. when the meeting runs longer, that usually means an announcement. policy meetinga where no one expected any news to come through, as we were sitting and waiting, we were starting to wonder if someone was going to come. when the headlines started to hit the wire and the release came through, the bank of japan initially looked like they had expanded their monetary easing.

we felt the public's jump as much as 2%. the yen plunging. it was pretty crazy. suddenly, a couple of minutes later, the market started reversing and the topics were falling. it closed the day lower, 1.8%. that 4% swing in the market in the afternoon was the wildest day we have had since the march 2011 earthquakes. really the boj was playing mind games. some people are saying that human traders actually reacted better to the news that algorithm-based robots. tell us more about that. while to get through the release and see what was going on. down to the appendix, you can see the information about what kind of etfs they were buying and why they were buying.

we had people saying that it was basically the algorithms picking up on the word expanding and thinking this was actually quantitative easing expansion. selling the yen. as the human traders started to read the press releases and digest guess what was going on and realized it was not expansion come and what they were doing in the market was pretty minor and it is only offsetting them selling, and you start to see the reversal and people started understanding what was going on. it took a while for the market to digest it. people were saying it was the humans that won in this case. the robots picked up on the wrong word. yvonne: much of do about nothing. -- much to do about nothing. the aftermath of the boj decision last week. switching gears to the town of

broken hill in the wilds of new south wales. perhaps most famous as the birthplace of a small company hill as broken proprietary. many years later, that small company is bhb billeting. going green.s second largest solar farm in australia. we go for a tour. broken hill is a 52 watch project. the second largest in australia and one of the largest in the southern hemisphere. it took 9-12 months to construct. valued at $450 million. broken hill has a long history associated with mining. as a function what of what is happening -- as a function of what is happening in that industry, job opportunities dropped. a great opportunity for

broken hill to embrace a new industry. the broken hill project had about 100-200 jobs created during construction. as that winds down, the operational presence will be much less. of leadershipge of the federal government level, we are starting to see a proactive reach out to a number of agencies that previously were not as well supported. if you look at all of the factors you need for large-scale solar deployment, australia is number two globally. there are so many obvious reasons why widespread solar should be contributing. it is a function of policy uncertainty which are -- which we are now starting to see some policy clarification. we think large-scale solar will be off to the races in australia. yvonne: let us look at australia's efforts to curb emissions.

james has visited the broken hill firm. tell us about the trip that you took. ist kind of transition happening in broken hill and how does that fit into what is happening internationally? james: broken hill is an interesting place to look at the solar story in australia. they have been a mining town since the 1880's. it is the birthplace of bhp billiton. the biggest player in the global mining industry. again at the forefront of an emerging industry, focused on the sunshine and solar powered. this project along with the sister plant in remote new south wales state is going to be the largest in the southern hemisphere.

millionlf ofe $440 to build it came from federal and state government support. it would not be economic without that taxpayer support. what we are seeing in broken hill is playing out nationally as well in a way. largelia obviously is a mining country that has been very dependent on the minerals in the ground. and natural resources. now, we are seeing the country look skyward and finally cap a different resource and look to the sunshine for electricity. yvonne: australia is known as the longest lived mining country. why is solar so important for australia? often --still yet, you you often hear australia called the sunniest confident. sunniestst --

continent. australia has failed to build a potential in the past. efforts in large-scale solar had not gained large scale traction. you are seeing a flurry of activity of the residential level. it leads the world in installing rooftop solar panels. on the large solar side, the country is really lagging. we are behind about 19 other nations including bulgaria, ukraine, thailand, china, and the u.s. which it sits at the top of the rankings. we are seeing some positive signs that that is turning around. the broader significance for australia is the big climate change deal that was struck in paris earlier this month.

australia is joining countries around the world in reducing emissions and solar powell is among the solutions that could help the country at a time that it is under a great deal of pressure to cut greenhouse gas emission. yvonne: interesting story coming from the birthplace of bhp. that the fed has increased rates, how will that affect australia's economy in the year ahead? we will look at that next in "trending business". ♪

yvonne: timeout to get a head start on the global economy for the year ahead. joining us live from melbourne is alan oster. great to see you. fed rate hike,s the first one in nearly a decade

out of the way now. where do we go from here? they were backed into a corner to raise rates last week. what about next year? have three rate rises, another one in march and the other in the second quarter and another in the third quarter. we are more cautious than the market. sayingely, what we are is the fed has given a vote of confidence in the u.s. economy. we think as you go forward from it will be data dependent. we are pretty relaxed that they will have growth rates around 2.5% and unemployment will come down. as that happens, you will get wage pressure and finally, some inflation. that is basically fairly optimistic in some ways. yvonne: pretty optimistic for the u.s. economy. your outlook for the australian economy seems like we will see

continued pressure. you revised down your gdp forecast as well as iron ore. we saw a rebound of iron ore. will it get worse before it gets better? will not improve. we have long-term forecasts of about $39 per on in iron ore. when we look at china, what we see is a further slowing in use of steel. together with increased supply coming, the best you can have is commodity prices go sideways. that affects the global commodity market. including copper along with iron ore. what we are also seeing in australia is a combination of moving away from the mining sector into the service sector. they are the ones that are growing. interest rates are low. we are starting to see some cut through in terms of house prices . and chinese building apartments

in australia. yvonne: we continue to see oil remaining dominant in the headlines. we see a lot going on in the last few weeks. the u.s. ending and lifting this ban on oil exports. play,an coming into possibly posing as a bigger threat next year. ore and some ways, iron oil are similar. excessu really have is supply coming out of opec. they are not going to reduce the amount they are trying to put pressure on shale out of the u.s. fracking. the russians want as much as they possibly can. and iran and iraq coming back. we see a flood of oil continuing. we have an oil price around $35-$40 a barrel for as long as we can see. we do not see in any of the

commodities a big recovery anytime soon. yvonne: we continue to see the rba being put in their policy so far, did they get a christmas wish? in terms of the aussie dollar? they probably did. with the fed raising rates, we think the australian dollar is worth about $68 plus or -$5. early next year as the markets settle, and the fed continues doing work, the australian dollar will go up a little bit. it helps tourism and manufacturing. we're seeing that with low interest rates, feeding into the service sector. the reserve bank is going to be boring for the next 12 months. an increase in rates from the fed, from the rba towards the end of next year or maybe early 2017. yvonne: boring could be a good

thing. coming up next, taking note of the terms and a look at how google searches on china are changing sentiment regarding the slowdown. details coming up next. ♪

yvonne: time for a look at what is trending on social media. -- if you wante to get a handle on the changing times in china, it you need to read google. we have done a search on bloomberg.com and essentially china has been the focus this year. if you look at the google trends , china number one economy. in 2015ifferent story

after the stock market route. in 2014, you can see those positive sentiments we were seeing. very different this year. crisis, clash.h, the stockrching for market route and trying to understand why china's economy was slowing. this is one way of looking at and capturerends them boots on google. you would be hoping that policy makers in china would be hoping that 2016, we see searches like revival or stabilization. economic recovery. a very interesting way -- this google search trend to see how we capture the mood of people in china and how they are feeling. yvonne: not scientific that interesting. laterl come back to you to see what other people are tweeting about china. paying the price, at toshiba

that could be a record. $4 billion. the details when "trending business" returns. next hour, coming up. ♪

x happy monday. we're live in sydney in mumbai this hour. she will also most in seven months. the nikkei said it may post it for million-dollar law this year.

shares -- his biggest professional priority. targetil to hit sales this year for the first time since 2008. next year might also be for. busier top stories. you can also follow me on twitter. trading in indonesia is getting underway right now. markets are on the way down. >> hortense of 1% overall. marketon the chinese have turned around. breakdown was happening for you. overall we are still down in japan. energy shares on the way out. the philippines were down. neare is very thin

entering the top five miss universe pageant in this typically happens. we're seeing yields here on the japanese side. we saw them on friday across the board. still very low levels. especially towards the longer in. the average paternity of the bonds. japan we are negative. if spain in here. markets opening up in europe late. supportive ofnot getting into some spots. governmentsition

let me just show you what's happening in china. first time in 11 days that it has strengthened the yuan. back across the world. -- banks across the world trading centers london scrambling to get their hands on you on. it's really dried up. it's driving up for example money market. where we doing there? something to watch. little regions of a dynamic changes. we're still lower. withe just wrapping the the other main story in the market today which is oil.

up 30% from friday. 3650. not enough tangible action. expecting quite a bit to go up. back to you. yvonne: toshiba is slumping in tokyo this morning. to lands and struggling investors by filing false statements. iran is now with more on this. what do we know? media outlets tell us they could be about to announce a record $400 billion loss.

that is related to an accounting scandal earlier this year. be double theould net income for the two decades. true it could is also include 1.6 billion dollars if not that many in. toshiba has said it was not the source of the work. they're going to hold a board meeting today to discuss a rebound plan and if it's approved we could see at large reported in the media. shiva has to announce a turnaround plan by december 31 and it will certainly come in the coming few days. it seems many many rumors around.

thoughts and local media in japan track it which would manage its chipmaking business also thousands of cuts possibly in the consumer electronics unit. again that has not been source of these rumors but to shiva is possibly looking to slimline. the electronics division is one of those that is the suffering and is not kept up with developments. and to shiva has also been selling the attitude cash. it needs to pay japan's regulator a record to million-dollar fine. it's turned out to an unusual takeover fight. the china banking's we headed towards a showdown with its largest investor.

the shares remain suspended in shenzhen. >> they will be suspended until january 8 two be sometime between now and then when the company outlines its restructuring lands. the company's largest shareholder has a massive big market position in a very short. of time. this is a consortium of wants to do this hostile takeover. they have a 5% stake in the company just a few months ago and have now opted to more than 22. there's been a lot of talk the china may in fact find a becauserty to come in it impact fact is not want this group to take over. they said that credibility is russian ruble and they think it

would affect the credit rating. caution the chinese newsmagazine today is reporting that china is in talks with goldman sachs on this restructuring. that of course would be one of the first tactic he might see. it's a very interesting case because we don't see these things all that often in china these corporate spats spilling over into public's here. this one took many people by surprise. let's not forget this is a major entity in the home building and property market. one of the largest listed homebuilders in the world. the heavyweight not only in that country but on the global tale.

watch this one very closely just to give you a clue as to how things may shave off they're putting their fighting seat on. the gloves will come off. mr. guangxi commented on his rainbow account. he said see you on monday. ominous unpredictable and we don't don't know what to expect from the company. the plot thickens. take a look at some other countries. we've been told china has gone back to singin with a sweetened offer. b wasllion dollar rejected last month. the company is not come up with ouro-pronged approach. they will hold a

board meeting before the end of the year to vote on the deal. if the improved deal is accepted , it will be the largest ever acquisition by a chinese company. >> in maybe five years in the making but u.s. lawmakers have finally approved a new imf deal. back in 2010 the board approved the -- approved the plan. offriday the president and on a $1.1 trillion changes after the u.s. house and senate finally ratified them. -- under the 2010

plan, china would jump to third-place and india will climb from eight to 11 in brazil about four spots to 10. delayed in improving the 2010 plan it may have helped us china to establish the asian infrastructure investment bank. finally changes to demands monetary policies have provided a boost to bond market. 20 year yield sale low. it links than the average maturities of japanese government bonds. governor corona also unveiled the new leanne. find something that doesn't exist. such a thing has never appeared

>> thanks so much. isther thing were looking at how australia has become a solar powered trail blazer. later on india's powerful gandhi family is involved in a new legal tussle. we'll have that live from mumbai. we will be live in sydney to discuss with james packer is up to. ♪

yvonne: the decision was any less telegraph months ago but this morning's mood really reflects what happens back. thanks that's right it's about context. he is stepping down as the director of crown resorts. it is no huge surprise. in august he step down as chairman. you remain as cochair and continue to have active involvement. but it's all being seen through the lens of what happened late last week. there's some speculation in the class -- in the press that it may be returning to private ownership. they were sent to be having talk with and without -- private

equity firms. release after said these words. it's putting two and two together. like there might be some positive news on the horizon. yvonne: the stories making headlines around the world. beijing remains on red alert.

the u.s. embassy say articles areaed 320 this morning eight times the internationally agreed safe limit. the city has initiated 39 people were rescued and three bodies recovered. the ferry sector has a poor safety record. to mains deserted parties leaving country with no clear government. third themore than a

election came at a time of growing apathy with traditional. bank of japan has a new plan. find something that doesn't exist. >> most of the measures are quite technical. i agree they are hard to understand. to ensure the smooth running of the easy program. investors from holding pretty hard to digest.

let's talk more about this with our staff reporter. he joins us in tokyo. we saw a lot of confusion on the stock market. >> officially the boj meeting was taking a lot longer than usual. some of them past the longer the meeting goes on for more chances for something new being announced. folks in anticipation are running high anyway. when the release came out and have fun started flowing, initially looked like they had granted another program. later,e of minutes

everything started reversing subtopics lunch. wefelt throughout the day saw about 4% swing from top to bottom. it looks like confusion for stock investors. through into the details, see that actually there are buying ¥300 billion and that is only to offset from the telling the good be doing from april. it did quite disappointingly. yvonne: i am not quite sure that's the surprise. some people are saying that human traders reacted that is the news that algorithm-based robots. >> that's overhearing. some of the traders are telling

us that it was originally the algorithm that meant for expansion. but they didn't really look at this time for the expansion. they were just cookie trading on the keyword. i'm in the human investors came in and started reading for the actual details and realized that the impact would not be as they. that's where the human traders are saying we digested the news or a. overall there was a lot of confusion in the market anyway as to what this new grant actually meant. kind of shows that they were confusing in getting the message across. >> in the day these changes were really much about nothing. >> for lunch. the buying and the uts is just obscenities telling the biggest we doing.

seven that mutual news. overall the amount is not increasing. there is nothing that will be boosting stocks. thank you so much. coming up going from positive to negative, a look at how google searches on china reflects a change in sentiment over the economy. ♪

yvonne: this is trending business.

we're tracking a meeting of oil nation has ended with the idea that the price will recover area their last oil minister says they will rebound because it is too low and it is hurting producers. he did not say when that would happen but he says it's strong. south korea has been given a rating booze. credit rating has been increased i one level, the first time it is been given the third-highest ranking by a major rating company. they say korea's economy will return over the next five years. south korea is one step above china into about japan. plans to considering lease 20 boeing jet.

the online retailer relies on the u.s. postal service that asked in ups and delays with large orders around christmas. said that they were testing their own delivery service in with weights on its cyclic at somea of the top searches on google. always at this time of year we look at what people up and searching on google. so i can see real change from 2014 to 20 team. a lot of people panicked and took to twitter. the survey really shows what the top google searches were in china.

china number one very hopeful. in 2014 a very different tory. solid words like crash collapse rices why is china slowing the stock market these were will really starting to turn on google. this isn't a very scientific study but it is an interesting way of capturing how people feeling about things they were searching for. we've heard from capital economics china made to you that you can see the google trends urges underline how the panic was driven by the equity bubble lab not events.

yvonne: route extends the drop to a fourth session. oil has lost more than a third of its value this year. toshiba shares plunged from 9% in tokyo. the company is expecting a large

loss. toshiba shares are down 39% this year. accor says promises top priority. his resignation comes after he discussed considering returning some of the company's assets to private ownership. >> as a function of training volume. >> let's get back the market. start with this. kong, netflixong

is looking to corrupt -- and perhaps critics programming ints hong kong. ongoing exchanges of 1% mostly downhill. some numbers are out. single year record in fact. over 25 trillion hong kong dollars. leading into a rally that we saw in april. they sort of leveled off. that's the story there. we returned to japan. biggest single day drops of

2011. there's a number that was put out. the company saying once the ill have is finish a better idea the tangible impact of the structure at toshiba. there several lines out. this is according to several theyoutlets in japan area are reportedly also looking at sharp. we will see more and more as these come out.

among the exporters in japan on the way down can go. resorts as promised could be poised to miss its sales target. it is not pretty. steve. were they too aggressive with these targets? >> i don't think so. i think they were looking one half to 2% growth in 2014. they're some of that occur that are out of their control. versus china their biggest market bigger than the u.s. by here slowed down

quite a bit in the second and third quarter. that suspended their profits that lower production costs. >> citizen pursuant be very tough getting a $5 million mark. how should they think about in 2016 then? >> december will be difficult .ut china did lower that has lifted sales last couple of months. auto sales route 24%. it is in november. that probably send it to 2016 and that should help. they have a couple of new products coming out in the u.s.. one of the most popular sedans is the launch. in china there also extending the suv product folio.

>> what should we be looking for for 26 team from china. >> i think hyundai will see production rebecca. and when production rises, it spreads the fixed cost around. it lowers per-unit cost. offsetting that is really the u.s. market. so a big market for them. dropping making japanese items very competitive in the u.s. market. that may offset some of the game that they would get in china. yvonne: thanks so much for joining us. news, the judge says

the micro was unable to pay for the damage caused by the disaster. the brazilian government is seeking five million dollars in damages. so cold no action letters were sent to a string of producers of the end of last week sources say to shiva samsung ericsson are among the. they were looking at the small lcd panels used for handheld devices. alibaba heads into a new year with something of an image from. counterfeit goods and unauthorized merchandise remain on it that form. 21 months after they describe them as cancerous.

more important is this for alibaba? where theyook at want to head which is 50% of its revenue coming from overseas in a decade and it's quite important because they have to maintain that image when reputation as a haven for knockoffs is just not helping. they wereast week warned that they better shape things up if they want to remain on the tourist markets less next year. serious is this problem? are we still think a lot of counterfeit goods on the site #>> surprisingly it doesn't take too much effort. staru do a quick search, wars fans who want to find out later figures you can find them for five dollars on the night. jerseys that are selling perhaps

a price of official cost. it's an issue with the company and part of the problem is because they have a billion listings on the flap and when you have that and take it into account quite hard to monitor. >> many vendors on-site. last the company been able to manage the problem? it's been nearly two years since it was first noticed is a problem. >> if you look at their model they are. here they link buyers and sellers. they don't control a lot of the imagery they're not telling directly like other site like amazon. -- controlled quality also their listings eliminate about 90 million counterfeit. they have to thousand people monitoring but it's like a lack of all what you take them off

the makeup of again. >> especially with any new kind of trend. thank you so much. >> crutches spurring chinese banks to hoard abroad. many yen denominated cds. marketssia emerging coordinator. how bad can this get? >> for the moment it's not that bad. you have about a month high this is also the christmas season to their stockings in cash at era. yes.hat that is it'll probably get worse but we have to see. >> does this change the climate

or doesn't diminish hong kong? >> naysayers in the past two months. nuclear controls in china. also the growth of laces like london and frank were will threaten hong kong's that is. the company is by far the city with the largest offshore and then rule of law etc.. people get set to do business in hong kong rather than china. yvonne: we're maintaining that. bad but it is not that situation skits worse before it better? >> i think it will. as you've been saying for quite a while now they have to allow the yuan to devalue.

we have students saying the economy must go to explain 5%. we have to allow the you want to depreciate. then it's trying at times to strengthen . so yes the situation will get worse and it keeps you guessing. we have to see what happens in the state months. >> 2015 has been the year of this lowdown. china the question were going to be asking ♪

yvonne: voters in spain have deserted the two main parties. the people's party was allow more than a third of the report. it came in very strong. whoever takes over will be

taking on an economy that is very high on debt. it has a budget deficit as well. parties ine main that kind of government will come out. >> that was tom mackenzie. >> stories making headlines around the world today among the says to b-52 bombers did not intentionally flying over disputed man-made islands in the south china sea. china has launched a formal protest over the december 10 light of the pentagon says it was not a freedom of navigation i decide. they sell the worship pass artificial reef in waters that

are claimed by china and several decision is. people unaccounted for after a landslide in chin jin has rocked and 91. officials were given the overnight a fish figure of 27. them wereaid two of workers dormitories. said the month came from construction work. the cost of staging the tokyo up being have wound six times the original estimate according to media reports in japan. the 15 billion dollar estimate is more than four times the budget for next year's rio games. to approve a

redesign after the original was scrapped by the prime minister for being too expensive. >> china is closing all 2015 with probably the weakest growth rate of service century. what lies ahead in 2016? ofms like we have a lot diverging news. we saw the duration on all fronts. still stabilization that could be the theme of 26 team what's likes no one find stabilization in the economy right now there's it is. however there is still more headwind. when you grind on through 2016 the 2017 that's going to come down to 6.2 by next year. that's not all to say that there will be nothing in the picture. we are asked acting more fiscal

support to come. this will help to graduate that. we're not expecting sharp drop-off more of a u shape or v-shaped. further weakness in 2017. we've seen it since november. it's like these issues just don't really work. what if we seen here that is the right against the question? >> the policies have worked. if they had worked we would be hovering around the 6% are receiving right now. enabled enhancement although it slowed down and not much more softly and more directly than it has. the key headwind is still that construction property downturn. that's not the peak until 2017 of the earliest.

that means that we also have excessive lines to digest. china will continue to be way down throughout the next two years. outside of that we also have external demand. china is struggling with multiple issues. they were saying when the comes the property sector that can be a growth stabilizer as they look over. we thought that the recovery spread into the smaller cities. excess supply is one of the keys.

it's one of the reasons why developers are not building more. that first.ght just it takes time. we're not going to clear out all of them off in a month or year. we are going to have movement in the right direction but don't like to see the headlines jumping up in terms and where rate cuts are concerned there will likely be another one for the this year and one more in 2016. he saying with interest rate cuts is to contain financial risk. set stable context upon which you can have a more moderate cases slowdown for the economy area >> we talk about this one fresh challenge the yen which could be good forex wars live at what point do you think the fall is going to be too hard to control. probably noty

going to the roughest set of patches the moment. in november capital flows are still relatively high. we think that actually be pvc has more ammunition. pbc has more ammunition. that is not the only thing to defend the currency. depreciation. we see them going around 6.5. from this allowing a bit

more depreciation it allows up next controls the not going to reverse the capital process. but it will slow down. >> thank you so much. ♪ more in india. ♪

in the of government will make a last-ditch effort to convince the opposition to approve a national sales tax for its session of parliament in. however it could be derailed by a high-profile legal the views

with one of the country's most powerful political families. now the political couple now just three days left in action. [indiscernible] the case has been filed by prominent politicians who are now alleging other irregularities. economists took the opportunity for a political andetta in what could be highly charged political environment right now. is three days to the government to try and push legislationndmark in if it does get past.

the government has insisted that they have nothing to do with the national headlines. it will likely get taken up in the next session of parliament. timelines on the landmark taxation regime. they're saying the delay is better than a flat. star wars fans have flocked to the opening weekend of the force awakens. film collected $238 million, topping the $208 million a can in june by jurassic world.

the force is still going strong globally. china where it opens on january 9. stay tuned for asia edge.

>> it's the middle of the asian training day. we're live in hong kong this is asia edge. the top stories is our, japan leaves markets down and oil falls for a fourth session. more trouble for toshiba. a record $4 billion loss.

in the race to the bottom the wanted title of asia's worst-performing currency. also coming up searching questions from air pollution to islamic state. when google's terms of the year say about asia's differing taste. >> it has been a very eventful year. i'm keeping my market. full trade week. continuing for wall street. mostly moving lower. overall can we get the damage? it's about's -- that's about $15 billion in market cap. as we do move into the afternoon