>> is tuesday the 12th of april. this is trending business. rishaad: we'll be taking a singapore tokyo in sydney. watching the side of malaysia's fund.ed a parliamentary hearing indicating the prime minister could've been involved in the decisions on questionable transactions. they're hoping the new handset will build on yesterday's stock surge. simply hoping it is the end of a

five-year nightmare. where now for the yen? it will strengthen the gains this year. it reaches 105. us know what you think about these top stories. we got the opening here in hong kong about 30 minutes from now. also in malaysia. give us a flavor once going on out there. japanese yen.a we areo get to 90, and far from that, then it becomes a problem. if you look at that through the prism of purchasing power parity. if you even without that would take it out to maybe a dollar per yen.

the equity markets are on the way out. market we the chinese should be getting export numbers out of the philippines soon. the 11th straight decline in exports. out of the philippines. slow growth in japan. the weakest in three years. is the first full month of loan activity with the negative interest rate policy from the bank of japan. making its way through the system. let me break it down for you. banks and automobiles leaving the game. 3.5% and as i mentioned the automobiles should be over here. 2.3%.

the risk appetite seems a little bit more robust. rishaad: hasmalaysian prime minister faced months of political attack due to his role in a troubled state fund. transactions. what do we know that we didn't know yesterday? >> these documents from a are justn committee another huge blow for the prime minister. they show questionable transactions that bypass to the board of directors and finance ministry. the officials were questioned they made multiple therences to article 117 of constitution which states that all matters need authorization from the prime minister. that thenow saying prime in his capacity as chairman of the board of advisors must be examined as he

could acted as a shadow director. they also released a separate report that identified at least a $4.2 billion unauthorized meanwhile $3.5 billion of payments made by the company to an abu dhabi company are under investigation as a sovereign wealth fund they are denied ownership of that company. we are now seeing conflicting statements from both sides as the firm said they negotiated agreements with the previous heads of international petroleum investment. saying it was a surprising claim but neither the company's new of thise payments. all comes as authorities need to determine if some of the billions of dollars that it raised percent out inappropriately. more than $12.8 billion of debt over six years.

using some of that to buy energy assets. with these new developments, it does look likely that the scandal will not go away anytime soon. rishaad: china has plans to tear down the walls of its gated condominiums. with goldmanup sachs. it is the latest firm to reach a settlement with u.s. authorities. trying to hold it accountable for the financial crisis. the u.s. justice department has confirmed that goldman will pay $5.1 billion due to serious misconduct over the sale of mortgage backed securities. goldman will pay $2.4 billion in plus 875 million in cash payments.

such a the fifth multibillion-dollar settlement that has been reached with u.s. banks on the back of the governments push to hold wall street more accountable for the subprime crashes. other banks including deutsche bahn can remain under investigation according to people familiar with the matter. earning season has picked up in the united states. they may be in for a rough ride this quarter. this could be the first u.s. earning season -- worst u.s. earning season since the financial crisis. revenues tumbling 15%. down 196me came in billion one year earlier. it was better than expected performance in the lightweight alloy products.

they'll become the least 400 more jobs. has always been the unofficial opening act for the earning season and this could be a rough season. a lot of that drive coming through from energy companies alone. pc shipments sliding to their lowest level in years. yet another challenging year ahead for the industry that has really been staggered by changing consumer trends. top spot with 19.3% of first-quarter shipments. apple coming in at number five with just over 7%. up from 6.4% one year earlier. globally shipments have dropped 9.4%. that is the sixth consecutive decline. pc makers have or any weight in

with four straight years of falling shipments. under pressure. customers are delaying or inpping purchases altogether favor of increasingly powerful smartphone and other mobile devices. even when you come to look at developing markets like brazil and russia, they are losing demand there. the strong u.s. dollar is also weighing on these shipments. rishaad: going to the company with these troubled taiwanese law firm. launching a new handset today. one that is seen as a major make or break moment. end ofrs hope it is the a five-year long nightmare. if they can turn this ship around. >> they need some good news. they need a shot in the arm. gotell as news that we yesterday. will workming they

with that the australian company northrop grumman. revealedelse has been except that the deal was still in the early stages. a shot of encouraging news for a company that is had numerous problems over the past five years. shares over that timeframe plummeted 93%. in taipei. htc had 9.2%s peak market share in smartphone systems due largely to deals with u.s. carriers like verizon. its market share has slipped to just about 2.5% in 2014. largely through what analysts say were marketing missteps. apple and samsung have taken the heart -- high-end market away while chinese companies have squeezed htc at the low end. becomingthe risk of

whose handsetola business was sold to google for nearly $10 billion and then shuffled off to lenovo for just $2.8 billion. or worse nokia whose handset unit was sold to microsoft and itntually microsoft shut down completely last year. htc is pinning its hopes on the launch of the new flagship handset later today in new york city. the htc 10 based on leaked promo videos analysts say there is nothing to revolutionary about it. for an android smartphone except ande longer battery life better speakers and a thinker beveled edge. good luck, htc. rishaad: territories in the south china sea. how it is affecting the rights of the people who depend on those waters to earn a living.

at the yen and its affect on the investment outlook for the asia-pacific market. this is trending business. ♪

rishaad: the violent surge in the end's value has japanese policymakers worried. to takeysts scrambling a look at all this. currently we are at just below 108 for the end. -- yen. japanese yenthe naturally gains further relative to the dollar. , bullish betsts there. if this goes up a lot of people are going to get burned.

he called 115 and 110 and now he says 105 will be in the cards. >> because of the really aggressive easing of the monetary policy, this has now and 105. to 110 we could head towards 90 or 80. around 100 no problem. david: we are still a bit away from 180. we are back to 107 right now a critical support level. problem but 105 not just yet. if they do intervene they will

need the agreement of its counterpart. there could be some headwinds for the yen and the rally. have a look at branch prices. oil obviously has been on the way up. red means the correlation is breaking down. if branch goes up, the yen goes lower. brent goes up, the yen goes lower. rishaad: let's get more information on the end. yen. when you make of what is been of late?with the yen christopher: our customers are keeping a close eye on where it is going.

i think this support is just around 107. we could see it creeping toward the 105 level. i think it will be a pretty tight range over the next few days here until we get a little more clarity from japan. i think our customers at td ameritrade asia are keeping a close eye on it but are more focused on u.s. equities at this point. rishaad: i'm sure you have some guys looking at japanese equities because they move in an inverse relationship with the yen. christopher: that is totally good question. we do see an increase in some of the etf's on the japanese market. see people are trading the american exchange traded funds.

we definitely see increased opportunity for our traders. with that inverse correlation the spoke about. rishaad: let's look at the usa. alcoa kicked off the earning season with a bit of a disappointment. people are suggesting that this set of earnings that are coming are going to be weaker than i have been recently. perhaps the worst season since the financial crisis. closely with the fed be looking at this? christopher: the fed will definitely be data driven. 8.5 to 9%. expected earnings down year-over-year from last year. so the federal reserve is deftly going to keep a close eye on that.

with whatin with the we saw last night with robert kaplan from the federal reserve saying we need to continue to have patience. you have two things that have the earnings downward. what looks good? telecom and consumer discretionary look to be 13% and 10% on the expected upside. at&t tried to drive earnings from the telecom sector. some of those internet retailers and automobile manufacturers should push it up from the discretionary side. rishaad: poor earnings season is already priced in on the s&p 500? christopher: i think it is

differently priced into a point. we were expecting that eight and a half percent downward miss on the earnings. atlas we have some large beads on the downside. alcoa came out last night. their income was so bad. , you have tonings look more not just at the top line number but also the underlying fundamentals. athink it is priced into point but if we do see some what you willwn, see is the increase in volatility in the stock market. that means an increased opportunity for our traders. directional tight bets or to hedge their portfolios. rishaad: thank you.

haidi: troops and barricades are being deployed in brazil where congressional committee has just voted to move forward with impeaching the president. that means the house of parliament will have its own say on the impeachment as early as next week. the brazilian currency has had a seven-month high on speculation that the president will be ousted. the president says impeachment would amount to a coup. david cameron has defended his tax affairs in parliament. he says he delayed a to questions about the panama papers due to his anger at seeing his late father's name attached to stories about tax evasion. sold all of his shareholdings when he became prime minister. to avoid any conflict of interest. david cameron: since 2010i have not own any shares or any investments. the primeation of

minister's tax information in this way is unprecedented but i think it is the right way to go. i am not suggesting that this standard should apply to all mps . the search continues for survivors of a building that collapsed in shanghai. a mother and child were pulled from the rubble. others are trapped. cameras caught the moment that it happened. preliminary report blamed the builder for the loadbearing walls. it was constructed during the 1980's. one floor of were above. rishaad: demand for hedge funds may be about to take off in japan. no sensiblesays move to tokyo over its regional rivals. ore on that when trending business returns in

couple of minutes. ♪

rishaad: he joins us now from tokyo. how did the hedge fund business become a bit stronger than a wasteland? tom: basically after the financial crisis a lot of hedge funds closed their doors. grow,did not really bounceback in the same way that hong kong and singapore did. in the last four years the number of hedge funds in hong kong and singapore have basically doubled. where is in japan it was broadly flat. tax,ig reason they give is corporate tax rate in japan is

about twice the level of hong kong and singapore. red tape is another issue. , thet up a fund in japan cost of a license is about 10 times as much as it would be in hong kong and singapore. generally the culture is less receptive to tokyo to startups and entrepreneurship than in hong kong and singapore. rishaad: what is the outlook then? is this an industry that is dead on its feet. is there a reform package in prospect? tom: in terms of demand it is an industry that is not dead on its feet. there is great potential especially for raising capital and tokyo. you have these big money who traditionally had

big holdings of japanese government bonds. rates theive interest yields on those bonds is not attractive at all. and greatbig push potential for hedge funds to raise money from japanese managers. rishaad: how was the performance of these japanese hedge funds? tom: in terms of performance they've been doing pretty well. abe.r prime minister his economics has really helped their performance. they have beaten the hong kong funds every year. rishaad: thank you for that. we will lookeak, this is thewho says

biggest investment opportunity since walt disney bought land in florida in the 1960's. on the market opened here in hong kong and shanghai. opening numbers are next. ♪

rishaad: japan is driving gains in asian shares. the n snapping its longest drought since 2012. banks leading the stocks up. for the first time this month at the yen is weak but getting some respite for japanese exporters. equities in sydney also higher. we saw stocks slip on wall street. alcoa coming out with expected earnings. this could be the worst earnings season since the financial crisis.

alcoa profits down 92%. i'll: its projections for the coming quarters. a slowing demand story out of china. transcripts from malaysia and parliamentary hearings indicate the prime minister could have been involved in decisions on questionable transactions with state funds. +++ directors and the finance ministry as well.

under questioning that all matters did need to be authorized by the prime minister. some breaking news is coming through from australia. business confidence strengthened in march. the monthly survey of those conditions jumping to 12. the highest level of business confidence in australia and several months. confidence rising to six. that is double the february figure. the service industry remained to best performer although construction is getting to close the gap. that is a story just coming through and we will be getting some reaction on it. david: not much reaction yet. it is been fairly quiet across the currency markets. we are at dollar weakness this morning. when i show you the map you'll get a sense of what i mean. we are basically trading sideways. on a lot of these markets right now. the australian dollar is at 76 u.s. cents. up half of 1%. the chinese mainland, and manila, we're looking at a flat session. i will tell you about loan

growth in just a moment. the philippines just came out with export numbers. the 11th straight monthly decline in export growth. down 4.5%. the estimate was for one of 3.2%. back to the equity markets we are looking at gains in japan led by the banks. we also got the loan data out of japan. at some point between today and the 15th of the month we may also see china come out with on new creditrt growth. in are looking for new loans of more than $1 trillion. they came out with a statement on friday that directors and members of senior management of the bank have raised 800 million

hong kong dollars. buy company eight shares. it should help build a culture of responsibility and ownership among the staff. something to flag. rishaad: gaining as thees yen holds a seven-day rally. the biggest gainers are banks. despite the data showing that negative interest rates have pretty much failed to spur lending. what did we learn from today's numbers? gareth: bank of japan released monthly data on loans and deposits this morning. we saw that japan's banks have grown leading by just 2% in march. a little disappointing. it is been sitting at an average of about 2.5% of the last 12 months. it is the first full month since

the bank of japan negative interest rate policy took effect on the 16th of february. a sign that the policies not having the effect that had hoped for. one analyst suggested that the cut in the rate of lending has on the back of some lending to thege renewable energy sector. they were lending it to the renewable sector. hardliners are also holding off at the moment. disappointing results from the bank of japan. rishaad: the negativen of interest rate policy has failed or is it too early to tell? gareth: i think it is too early

to tell. the policies designed to shift the lending to the private sector. to spur the economy. firstnot achieve that goal. we are seeing a drop quite significant way. it might take a little longer for it to pass through the borrowers. but things are not looking too good for the bank of japan now. rishaad: thank you. the reserve bank of india is building up its reserves. in attempt to shore up the rupee. growing their stockpiles to an unprecedented level. rupee is the asia-pacific markets worst-performing currency.

product is hoping for a turnaround with lower-priced handbags. to narrow the spread of prices between the 10%. probably needs to kickstart growth after the lowest growth year in china and the strong dollar. chinese conglomerate h&h is buying the world's second-biggest airline. it will pay for the swiss-based game group holdings. at a 20% premium to its friday closing price. it says it plans to do list the company if the offer is a successful one. chinese electric carmaker has the buzz created by tesla's new model three. it will focus on its image of the next two or three years. it is hoping to gain better recognition of its technological advances.

byd unveiled its latest model on monday. produceralian dairy was apparently caught up in an official chinese crackdown on imported food. what has changed in china and why is it affecting this company in this way in particular? >> on april 8 china changed the rules about importing food and consumer goods. arriving in the arrival halls and airports. it was all part of the pledge to help domestic retailers. crackdown on imported goods. the tax bureau in china issued a list of allowable products. murray goldman's range of milk products was not on the list. you can't find it on the alibaba website either. they could be a stock price

collapse. down by more than 6% this morning. murray goldman put out a statement saying that he was aware of the forthcoming changes and there will be any new material for the business. if you take a look at shares in that unit trusts. rishaad: it's not just murray that is suffering as a result of this confusion. paul: there are other products as well. milk caught up in it. a company that produces organic food. a vitamin maker. touching $225e last year. in august regulatory changes. what is a vitamin exactly?

you can still order vitamins on the chinese website. this topic is probably going to come up. rishaad: a look at disney which is aiming to set a new standard for service in china. maintaining that disney magic may not be easy. considering the size of the workforce. about 10,000 people be needed to run the operation. rachel: the recruitment drive is

going well. they will need 10,000 people at the shanghai park when it opens in june and they have about 8000 right now. the enthusiasm from chinese jobseekers has been overwhelming. there are long lines outside every day for three weeks. they might not have that same deep childhood engagement with disney that americans have. they know it is a very practicable global brand. the kind of company that can give them opportunities. some even talked about the benefits and the perks such as free park passes to every disney land in the world. rishaad: it is a challenge to find the staff members. rachel: it is not a themepark

industry that is very much in effect already. there will not be a thousand people who are already trained on this. from retail in the hotel industry. even in those industries the general level of customer , there is still gap between what that is and what it could be. at disneyland you have those who are making it a song and are very engaged. trying to find that, -- quality of openness and friendliness that is associated with disneyland. there will be a huge amount of training that is needed. rishaad: they want to make this themepark a standout. bob iger says it is the biggest opportunity since they bought land in florida. will be quiterce

different from the disney parks in the united states. rachel: this is a huge issue. they have been trying to open the spark for 20 years. the chinese culture is very different from what they are used to. it is a binary vibrant workforce. the turnovers 30 to 40%. disney is coming in as the first international mover but the next five years there will be five mega parks operating around shanghai. rishaad: not sure what to do with that loose change? this is an israeli startup that may have a position for you.

we are back in two minutes. ♪

haidi: people were killed when an unauthorized fireworks display went wrong. a stockpile of fireworks exploded causing the explosion that destroyed several buildings. taiwan has accused china of abducting eight of its citizens from kenya in what could be the first diplomatic test for the incoming president. 37 chinese speaking people were acquitted of activities and can yet but were ordered to leave the country.

they forced him onto a plane bound for the mainland. china has announced plans to become a superpower in world football by 2050. having 50 million children and adults regularly playing the game but into the decade. rishaad: on average travelers returning have about $285 a year in unused foreign-currency. that is about $80 in lost loose change. but there's an opportunity there. atm like kiosks at international airports where you can convert this money into digital currency. how does it work? you are stuck with thousands of coins in your pockets. you can choose your preferred

language and pick the accounts the want to transfer the money to. it could be anything, skype account. you put in your money and it is simple as that. my previous job was to travel a lot. i traveled from tel aviv to new york and back. got stuck with thousands of coins in my pocket. i realized that i'm holding 15 to $20 in coins. we think about being a passenger every year events of two a lot of money. i came up the idea of creating this kind of reverse atm kiosk and send the balance your account. it was tough in the beginning to get funding. it is always great challenging provide thers to

money and to get the airports to put the facilities in their facilities. now we have more exposure and it is easier for us to get in. regulation is always tough. kiosk and you the deal with all the regulatory issues. we cut in some kind of percentage from the passenger depending on how much you deposit, the more you deposit the less we charge you. thelso get fees from companies. if you deposit money from skype we get a small amount of money from skype. we do sometimes of advertising model as well. lots of people want to be in these locations.

rishaad: you are moving away from charging the user. >> definitely. the morer we grow power we have with the brand. to make sure that nothing is happening to the customer but the rates are being page for the customer to use the service. rishaad: rishaad: where are you with funding? >> we just raised to $10 million. we have enough money to grow the business of the next couple of years. at the point-of-sale and the duty-free shop. according to the kiosk you been to send your money to duty-free while you shop. you buy something and instead of getting change back you can send

it directly to your bank account. , whateverl account you want. rishaad: what is your exit strategy? >> we are starting to build a business. we're trying to build more experience into the business. i don't really think about how we can sell it. we want to bring more revenue into it. or partnerships. they sure every traveler knows about the service. rishaad: the increasingly stormy waters in the south china sea. after this break. ♪

rishaad: we are coming to you live from hong kong. she seven foreign ministers have wrapped up their meeting in hiroshima with little progress on maritime disputes in the .outh china sea territorial tensions continue. there could be a peaceful settlement of the dispute. land reclamation and outpost construction. china was not specifically mentioned. leaders discussed it. thencreasing impact on people who depend that part of the world for a living. he runs a small business with a big problem. the business's fishing and the

problem is china. over the past eight months he has taken these photographs to what he says is the chinese coast guard harassing him and other boats as they try to fish around the shoal off the west coast of the philippines. the waters are also claimed by china. the most recent clash ended with each side throwing roxette each other. >> whenever the chinese turn me away i argue with them and ask them for documents. >> it is an experience that he shares with other fishing boats in the region. >> we had to flee. fearful that we would be arrested by china. there were a lot of fish around the islands. but we were afraid to go near them. if we did go near them and were spotted by a larger chinese ship

and graham are our boats and damage them. >> china tries to consolidate its claims in the area. militia are forcing them out. it will be in a better position to prevent other countries. this map illustrates the multiple overlapping competing claims of six nations to the islands and waters of the south china sea. staring at it for too long can make this especially explosive situation feel overwhelming. china was eager to put it on the meeting. the g7 although not a g7 member china was just as eager to not have it on the agenda. ist talking about the waters a delicate diplomatic dance. it is trying to expand its

territorial claims and says whatever problems there are have been solved amicably. >> fishing is a major part of the mutually beneficial cooperation between china and its neighbors. the liberal countries in the south china sea. regarding the occasional disputes we have for a long time figured out the effective solutions through friendly negotiations. that is not the experience of the local fishermen however who are caught trying to make a living in the middle of increasingly dangerous waters. rishaad: is tuesday. we've got the hong kong market pretty much flat right now. the shanghai composite is down a bit. that psychologically important the momentjapan at is leading asian stocks to the upside after recent declines in the yen.

snapping its longest rally since 2012. that is providing some respite for a japanese exporters. next a look at beijing and a showdown with homeowners. ♪

>> from our studios in new york city, this is "charlie rose." charlie: thomas campbell is here. he became the metropolitan museum of art's ninth director in 2009. he was a curator of the museum department of new york sculpture and decorative arts specializing in tapestries. he has unified the museum's identity and expanded its modern collection. they entered into an eight-year agreement with the whitney museum to occupy a building on madison avenue. able use the space to host exhibitions and performances. the space, known as the met, open to the public on march 18.