♪ rishaad: it is wednesday, the 20th of april. i am rishaad salamat. this is "trending business". ♪ take you to new york, singapore, and sydney. reaching four month highs, extending gains on wall street. regionaloups of the benchmark rising, led by brawl materials producer. w materials

producers. and, the race for the right house reaching new york. trumpy clinton and donald hoping for strong support after a series of primary setbacks. do let us know what you think. follow me on twitter @rishaadtv and use the #trendingbusiness. the equities session extending four month highs. we are monitoring the markets. juliette: we are seeing some gains coming through for those markets opening up. upaysia back in the black, 10%, similar gains in singapore and tie one. all of this are positive signs for the china and hong kong markets live at the bottom of the hour. has continued to strengthen against the dollar, that is boosting the kospi, the nikkei 225 holding on those

seven-week highs we saw yesterday, up for a second session by nine tens of 1%. red, alsod started in now higher, up by a 10th of 1%. all of this thanks to those strong rallies in u.s. and european equities during tuesday's session. that has given a good boost once again to the oil and gas players in the region, that sector up i 1.5%, also the basic materials .6% -- 1.6%. one we saw the iron ore price rally at $62 $.85, and the futures on the china contracts, we could see another game today. bhp billiton has come through

with its third-quarter numbers, up by 2%. the japanese yen, it has been tokening, giving a boost japanese equities, but we are seeing it a little stronger at the moment, up by a 10th of 1% against the greenback. get tooy, nothing to concerned about, because were still seeing that big pickup and japanese equities. rishaad: right, kohl's just closed in new york, and front runners hillary clinton donald trump hoping for big wins. just closed in new york, and front runners hillary clinton and donald trump hoping for big wins. we have the latest from new york. what are we seeing from the early polls. point,re seeing at this early calls for donald trump projected to have won this contest in new york. it is too soon to say for

hillary for certain, but both widely expected to win tonight. they have both scheduled their victory parties in new york or the other candidates have moved on to next week's contests. absolutely, is new york a real game changer? it is one of the biggest states. to make up for the rough patches we have seen in the primaries of late? >> for hillary clinton and donald trump, it has been an expect nations game in terms of changing the perceptions, both severalost the last primaries in a string. for donald trump, the game tonight is about margins. if he can win more than 50% over all statewide, he will have a much greater share of the delegates. he is trying to lock in the magic number before the convention to avoid a fight. the math for remain on hillary clinton side unless she is upset tonight i bernie sanders.

if she can win by a large margin, it puts pressure on bernie sanders to become less aggressive in his attacks. the thing is that if we look at the republican side, there has been a real paucity of actual debate. there was pressure of a few weeks ago to get something going on. in the last couple of weeks, it's, well, it has been notable by its absence. >> that is true. this is donald trump driving the train. there is so much policy to discuss, and it will come up certainly in a general election, at least we think it will come up in the general election, isis policy, tax policy, but for now because this has been such a personality driven campaign, it has been hard for the guys liking behind to turn it around and make it about policy. rishaad: thanks a lot for that. the latest on the new york primary taking place.

we will be covering that for you, this race to the white house, who will get that nomination? will it be donald trump or hillary clinton? tweet us your thoughts at @rishaadtv, include #trendingbusiness. $100 million to pay for the operations of the regulators, taking the burden off the taxpayer. the announcement may just a few minutes ago. let's find out why these australian changes are being made. there's a number of reasons this is going on. first of all, there have been a few scandals hitting the australian banking industry in the past few months. commonwealth bank recently had an issue over its division being rather pretty giddy -- pretty giddy fixbank swap bill rate things, so it has all come to a

head today with the announcement of the new funding model. here is what the treasurer had to say. >> today, i announced that the banks will pay an additional $121 million to increase the resources of asic to be a stronger copper on the beat. paul: the bank is to pay $120 million to fund their own regulator. stocks are slumping as we speak. this is important for a couple of reasons. first of all, the money no longer comes out of the budget, which means it is not subject to hims of what over government is in power. party hastion labor

been calling for a royal commission into the behavior of the banks, so by getting the banks to pay for their own regulator, this allows the government to head off that issue and get out in front of it. banksd: ok, away from the , bhp billiton, rio tinto, out with the latest production number, a bit weaker here. what has been the reaction? iron ore production was amiss for the third quarter, 53 million tons. the market had been expecting closer to 56 million tons. bhp blaming poor weather and western australia. it was better across the other three of the key four pillars. bhp shares rising quite nicely at the moment, up 2.3%, but is that production numbers or the price of iron ore, which

went up another 4% overnight, above $62 per ton. bhp saying there will be less iron ore shipped in 2016 than in 2015, but perhaps that isn't necessarily a bad thing considering there is something of a glut. rishaad: thank you very much indeed. paul allen in sydney. intelech space with until shares down, 12,000 jobs at the go, forecasts missing estimates. it is all down to the pc market continuing its structural slowdown. cory sent us the details from new york. intel announced its results, but it is the second quarter and beyond that has investors concerns -- concern. billion, $1 billion less

than what analysts predicted. the company saying it will cut 12,000 jobs, a big layoff, 11% of the workforce. so this comes amid some other least of which is stacy smith, the chief financial officer, going to a different role in the company, and charge of sales, building materials, a very different kind of role from the official financial role. they have not named a cisco server -- named a successor. changes for a lot of workers, 12,000at will involve involuntary involuntary layoffs, so trimming the ranks there. salesa big slowdown in pc , with the company saying it will focus not on pcs, but instead looking at data centers, the internet of things, those chips they can sell for more money than the chips they were

selling into pcs as that is this declines. ok, let's have a look at some other stories at the moment. well, here is heidi. haidi: more rhetoric coming out of yahoo! extended trading amid signs of progress and its turnaround plans. marissa mayer said the company is moving swiftly to consider offers to buy its web operations. seeking to reinsurer investors who had been angling for a quick sale. she did not prior fried details -- did not provide details, but said there is a well-defined calendar to move ahead. yahoo!'s first-quarter sales beating estimates, revenue coming at 850 $9 million, topping expectations. investors are now back focusing on the sale process. the rise in and -- there are

several bidders for the core internet business. marissa mayer has been coming under intense and pressure from investors, basically disappointed in this turnaround, failed to produce growth, failed to close the gap in ad revenue with the market leaders come of facebook and google. the tradepan, and balance coming in as a surplus in march, hitting its highest level in five and a half years, the stronger yen weighing, cutting through on the positive energy and other imports. a case of contraction when it comes to exports accelerating, overseas shipments falling. less thanose declines what had been surveyed, leaving japan with a surplus of ¥755 billion, that decline and exports marking six-month of negative readings. concern is rising that the yen's dissent will undercut exports

come a but of course it is one of japan's imports, 6.4% against the greenback in the first quarter of the year, and of course keep in mind oil declining 20% in march also playing a part there as well. japan in thewould drama could be over for now. seven & i,dent of ending weeks of questions. challenge,s another lifting weak sales at japan's largest retailer. it saw his boss quit the company. focusing onhas been the 7-eleven business, thinking they should divest. this entire controversy has put an international spotlight on seven & i and its corporate governance and the efforts to turn around the economy and

japan inc. later, howming up much money is leaving china and exactly why? .e will be discussing that up next, ing says despite losing in the japanese yen, the central bank won't have to intervene. we will hear from the asian research head when "trending business" returns. ♪

asia-pacific getting some momentum after extending their rally. commodities posting the biggest gains since august, the raw materials doing well. at ing,asian research let's talk about whether this rally has legs before we talk

about some of the other aspects of what we should be watching. i think it does. i think the trigger for this rally has been the people's bank embrace of a more predictable policy when it comes to setting their daily exchange rate for the u.s. dollar. from beijingcalm has permeated the financial markets and is responsible for the risk on we are living with. there is a wall of worry him obviously, but we are climbing it, and we will continue to climb it. rishaad: are we getting a leg up from that gdp figure last week? since day to have come in the january money and credit data, which were released in the middle of february. i think it was a big part of this risk on rally. message tosends a

investors that the authorities really have turned towards , and policies have become more accommodative, and i think that a laid a lot of fear that the authorities were asleep at the switch or were going to contract the economy into a hard landing. has since then, the data come out in support of that more bullish growth sentiment. it's not just the official data, some of the unofficial data has indicated what you are saying. ,et's move from china to japan as soon as we saw that huge move , athe yen as it strengthened lot of currency forecasters are ripping up their forecast, maybe 140 at the end of this year, and they are looking at 100. what gives here? 110 was age bound and line in the sand and now it is 105, what is your view here? authorities don't seem to

have a target, a numerical target, for dollar-yen in mind, is our view. they want the economy to revive and grow again, and for that they need accommodation, monetary accommodation. the move to zero rate did not provide that. it was undone by the appreciation of the yen. we don't think they will give up on accommodation. we think they will move, if not in april, then before year end, anduying more assets increase their asset purchases in order to provide that extra accommodation. will put some support under dollar-yen, and we see it at a range of around 110 for the rest of the year. staying with currencies, we come back to japan and a second. what about dollar-yuan?

we have hadgest since december of last year, so is that a function of the dollar continualion of the alleviating of concerns that they would evaluate to let the currency depreciate, which we thought about a month ago? strong fixing this morning is probably not too much of a surprise given what happened to the u.s. dollar overnight. a weak u.s. dollar would tend to be associated with a depreciation or an appreciation of the chinese yuan against the u.s. dollar, and vice a versa, which is what we are seeing this morning. so-calledcking this nominal effective exchange rate indexes that have been released by the authorities and we are seeing how they are fixing,

making, setting the daily exchange rate against this basket of currencies, but it looks to us as if the authorities have kind of tended to depreciate, to use the basket to depreciate the nominal effective exchange rate when the u.s. dollar is strong, and when it is weak, they move a little bit more carefully against it to keep the nominal effective exchange rate stable. it sounds more complicated than it is, but we think the authorities are really determined to dispel the idea y are depreciating to gain an advantage in the foreign exchange market. i think they are probably watching the difference between the offshore chinese yuan and the onshore chinese yuan to gauge how far they can push this

mile depreciation policy. if that differential widens too much, they take measures to bring it back into line. rishaad: great talking to you. the stories making headlines around the world. donald trump projected to have won the republican primary in new york. he built his business empire in the state and has been urging his voters to get out and vote. his main opponent, ted cruz, does not like new yorker new yorkers, he said. hillary clinton was elected senator in new york, but it is generally agreed that the battle in the state is to coast to call at the moment. -- eight has arrived aid has arrived in the city recovering with electricity and water restored to most areas. the search for survivors

continues, although the rescue operation has been repeatedly halted by aftershocks. the premise to may visit the area tomorrow. fidel castro has made a rare speech, exulting the common's party congress to keep his beliefs alive. as brother was confirmed secretary, resounding message that the revolutionary generation will stay in charge as uber normalizes relations with the u.s.. powered by over 2400 journalists and 150 bureaus around the world, this is bloomberg news. right, coming up, japan is justifying its bonds hitting new highs. we will have the details. "trending business" is back in just a couple of minutes. ♪

rishaad: you are watching

"trending business". i am rishaad salamat. inbev in a $2.9 billion deal with asahi. still needs regulatory approval in several countries. tencent is the latest chinese internet company looking to raise funding. it is inviting banks to join. the interest margin is 102 basis points more than the london interbank rate. the internet company is becoming a haven for investors as state owned enterprises are struggling with credit risk and debt on their balance sheet. of next, donald trump getting his first bit of good news after

a tough month on the campaign trail. the latest from the new york primaries. of the trading day in hong kong and shanghai. we have those numbers coming up next. ♪

a look at our top stories, donald trump is the projected winner of the new york republican primary. the billionaire tycoon was widely expected to win easily in his home state, but hillary clinton leading bernie sanders in early counts. biggestporting its surplus in more than five years. exports fell in march on a year

ago, but imports plunged him was 15%. the yield on all japanese government bonds falling below 0.4%. australia's banks hit by a $94 million leverage, giving the securities and investment commission extra surveillance capability and greater funding for prosecutions. major policyst announcement since the prime minister said he wanted snap elections on july 2. let's have a look at the markets in hong kong and shanghai. what have we got? little bit of strength coming through on the open in hong kong. juliette: it has gone flat now. for tenshai market up of 1% on the open, so adding to those gains we have seen across the region. some companies coming straight out of the blocks and hitting

that 10% limit on the open. negative,ng, turning some good moves coming through in those oil producers, similar to what we have seen globally. the kospi has pulled back, the korean yuan holding on to those gains for a second section come about the kospi paring back a little. the nikkei 225 still looking good. 1%,asx 200 up for tens of and a good pickup and new zealand, which started the days trade in the red. andets in southeast asia the philippines turning negative. the philippines opening flat. metals in sydney leading the gains, iron ore continued its rally above $62 a metric ton.

is overbought at the moment. qantas is oversold. the movers and japan, a rebound in a number of these companies that were affected by the earthquakes over the weekend. sony and kubota and asahi glass coming through at the moment. ok, let's get you back to our top story, donald trump reasserting his status as the front runner for the white house. with murphy is in new york the latest. it does seem like he is a shoe in now, but at least that's the thinking. what are you seeing? i'm not sure we would call him a shoe in, but tonight is a really big win and will shore up the momentum behind his campaign and put some talk of a contested convention to rest.

getting theto delegates to secure the thatation outright, 1237, math is still pretty complicated, but the big win in new york, potentially sweeping , was certainly have people thinking how much energy and how much money do we want to invest in trying to stop as if he is going to emerge the ultimate candidate, and do we want to risk fracturing the party further. i say this about him being possibly a shoo-in because many people talk about new york as a game changer. clinton and trump are actually the anomalies. we have something interesting developing, the examples show this is a tight race, but early returns show hillary clinton with a bigger lead. goingl watch that forward. that race is too close to call and no one has called it that. outsideepublican side,

of new york, donald trump is winning with over 80% of the vote, 82%, just a massive margin. this campaign, as much as it is about numbers and delegates, it is also about momentum and media. ishaad: an donald trump talking right now. thank you a lot for that. let's get over to new york, and this is donald trump. , usa, usa. mr trump: i want to thank my team. it is evolving. the press doesn't understand that, but keep talking. incredibleen an evening, an incredible day and week. we went all over new york. new york has problems like

virtually every other state in the union. our jobs are being sucked out of our states, taken out of our country, and we are not going to let it happen anymore. we are going to stop it. very importantly, and behind me i have to say we have some of our great businessmen of the they are here someplace. steve is building a big building and i said congratulations, and he said it is nothing compared to what is happening with you, is that right? am a so, we are proud of him. , itas been really something has been really something amazing, and believe me, we will use our great business people to negotiate unbelievable trade deals so we bring our jobs back and we don't let our companies go to mexico and all of these

other countries anymore. we are going to keep the jobs here. you will be very proud of this country very soon. we're going to build our military bigger, better, stronger than ever before. nobody is going to mess with us, that i can tell you. we will take care of our veterans. our veterans are great people, and we have forgotten our veterans. illegal immigrants are taken care of in many cases better than our veterans. that will not happen anymore. that is not going to happen. we are getting rid of obamacare. it is going to be repealed and replaced. disaster, with premiums going up 35%, 45%, 55%. it will probably end of its own volition. we are knocking common core out, cutting it. it will be over and we are

bringing education locally, local communities will take care of their educational needs, and people have been waiting for that for a long time. so with all of the things that have happened today, tonight, and over the week, i will to you what, this has been an amazing week, all over new york state, we went to syracuse, we went to albany, 20,000 people. on average, we have 15,000 to 20,000 people. , all over,rochester and you know what? the people of this country and the people of this state truly are great and amazing people. we are going to be so strong again. really, legitimate. rishaad: donald trump the front runners cementing his position, hasected -- seeming like he almost definitely one that primary in new york. he is trotting out some of the

old phrases and using them. he's using phrases he has used in previous primary victories as well. .ight, let's leave new york it looks like hillary clinton will also be the primary winner in the democrat contest in new york. let's move to new zealand, stepping up are scrutiny of the central bank. the royal reserve bank of new and documents obtained show the finance minister has written to the bank's board, saying he once to discuss its "assessment of the governor's performance care co. what has prompted him to write this letter? it's not clear to us what has prompted him to write the letter. he began talking about it in the middle of last year. the documents we obtained shows he got a draft together in december of last year. it is important to remember that

the board itself as a monitoring board does not have any role in making decisions on rates. that is the governor's responsibility. publicly said a couple of times that he had been noting that graham wheeler had missed his inflation target, but there's nothing in the documents that we saw that would link any concerns. mean theok, does that governor will have to change the way he does business, have to change his methods? >> no, i wouldn't expect that at all. bill english is really saying to the reserve bank board, just focus on a number of things that i want to talk to you about. meetor example, once to the board twice yearly as opposed to an annual meeting at the moment. heyou mentioned, he says

wants to discuss the board's assessment of the governor's performance from time to time. he wants to know how the board looks at and assesses the governor's rate decisions, which it does after the decisions are made, not before, and the number of other things that the bank does across the street. letter, and at it operating level, it is hard to see any significant change. rishaad: thanks a lot for that. on theith the latest governor there, graham wheeler. they call it the widow maker trade. of imminentictions collapse, japanese bonds have gone the other way. what is happening here? let's find out. here is thei have yield curve, the sovereign yield curve come in japan.

this yellow line is the yield will get before they entered his rate policy. the green one is where we are at the moment. essentially, everything is below .4%. it is very hard to get over something like this. in other words, you leave your come -- money with the japanese yournment for 40 years -- would have to roll it over for 1000 years to make 10%. all this quantitative easing and bond buying programs, that is another debate altogether. the next one that could actually fall below zero is the 15-year yield, which at the moment is

just about three basis points above that. there we go. .035 percent, that is your yield, and don't be surprised if at some point we do fall below zero. two reasons are being talked about at the moment. one, nothing groundbreaking, the blg may need to act, which has been reinforced by the boj watching that they are what is happening and are ready to act if needed, to add stimulus to what is happening now. the other thing, you had a five-year bond auction, strong demand, and look at the ratio. highest level going back to early 2015, so basically measuring demand for for this particular auction, five-year japanese government bonds, 4.36%

, the levels of january of last year. ubs saying this is partly why we are seeing demand for everything towards the longer end of the even curve, fairly robust with low levels in terms of investment return. that is the story so far, record low bond yields in japan. breaking news hillary clinton has one then you are primary. early reports showed she was toding by a margin of 60% 40%, and these results coming in quickly after polls closed at 9:00 p.m. new york time. next, discussing the challenges in china and amid warnings that the country is fast approaching a make or break moment. "trending business" i can two with the details. -- i can two with the details. ♪

>> welcome back. it is 9:45 a.m. in hong kong. these are the stories making headlines around the world. rescuers in a grid or still pulling survivors from the rubble after the earthquake. least 413 people killed in the disaster, 4000 injured. about are growing ecuador's ability to finance a reconstruction bill, already t recessiont's wors of the century, seven-year lows. brazile president of plans to downsize the government, slash spending, and replace most of the camden -- most of the cabinet. around build the cabinet the new prime minister. he himself is accused of bribery, but denies wrongdoing. more than half of brazil's

lawmakers are under investigation are facing corruption charges. jet has been flying for months without papers, the registration for the billionaire said the registration expired in january. donald trump also has a boeing 757 that he also uses as a backdrop for his rallies. officials say the renewal is almost complete. powered by over 2400 journalists and 150 bureaus around the world, this is bloomberg news. i am haidi lun. rishaad: let's have a look at some of the challenges facing china. we have christopher boldin here is well. two different approaches, but we will make a link between them. japan, the economic decline in , and you're saying he is making a similar prediction for china. >> it is a big call.

he is saying china now faces an existence or moment. muchd a great run, pretty exports and, cheap achieve manufacturing base, but they are running out of room, and he says that unless they start pushing big reforms, they might start seeing social and political unrest. it is a big call, but he's saying that the real challenges need to be tackled. he predicted the economic decline in japan, but there was no social unrest. why should we listen to him and what is he remapping -- recommending? china, he is identifying the deeper issues, the rising inequality there, the need to spend more on health care, to spend more on education, and the need to ensure that they bring

along the broader populace with them as the economy develops. there are bigger challenges, tackling the debt overhang is one of those issues. there is a recognition, is there not, that if you want to talk about capital outflows, they are worse than the official numbers tell us, but who knew? number two bank, is this also dovetailing into they see the end of the runway and the need to get cash out. >> you have a lot of chinese families looking at not just yellen doing, but where do i want to raise children. they are seeing higher quality of life prospects around the world, so capital has been leaving in large numbers, beginning in 2012 and increases on a regular basis. rishaad: we've had five months

of decline before it went up in march. dollar-eurobefore changes. we are expecting $60 billion in outflows again. people are voting with their renminbi. surely a lot of this is corporate-led, a lot of corporate's are having to pay down dollar-denominated debt. past 1-3 years, that is a small slice of the entire total. if you look at it, the primary isnnel the people are using fraudulent payment of imports of goods and services to buy a house in vancouver, sydney, or wherever else else. the capital outflows story for the moment has calmed down a lot. it can turn on a dime, in particular if the u.s. economy

continues to track well and janet yellen signals great heights -- hikes are back on, and that will impact the yuan immediately and trigger the next bundle of money to leave the country. the double invoicing, tell us a bit about that. it is one way to get money out. basically, the primary channel people are using to get their money out is they will buy $1 million of something from australia, and instead of paying $1 million, they will pay $2 million for it, and $1 million in's up and a bank account -- e nds up in a bank account, as the they avoid the $50,000 cap. farmers japanese rise driven to drink, particular whiskey. we have the report next. ♪

rishaad: you are watching toending business" coming live from hong kong, streaming on your mobile devices. get to the distinguished in japan, finding themselves literally the flavor of the month. >> this whiskey bar in san francisco stocks more than 500 varieties of single malt, catering for a growing group of connoisseurs, but connoisseurs are moving beyond bourbon and arrive. japanese whiskey is the trend. simple, it'son the like a simple flavors. you can really taste it. >> last year, japan exported a

record $95 million of whiskey, creating an opportunity for boutique distilleries to expand capitalize on rising prices. explain exactly how different our whiskey is to others. basically, we use the same production method desk, but our whiskeys are taking care of much better in each step of production. >> venture whiskey in tokyo's west has one world whiskey awards from 2007-2012. it's single malt sells for as much as $20 a bottle. whiskey needs a long aging time, so even if there is strong demand, you can't increase output instantly them a but we hope to increase production by 20% this year. >> the demand is driving rice farmers to bolster their income, by planting barley. produce does not

anything during winter, but now that we grow barley, double cropping is possible and gives farmers the opportunity to make more money and save on costs. >> one of the major distilleries double takes exports in 2015. it is planning to spend more than $90 million to expand output further, raising prices to cover the cost. that is unlikely to worry international fans too much. off the beaten path of little bit and something the masses have not appreciated yet. >> happy to pay a premium for their new drug. rishaad: the next 60 minutes, fixing the price. on gold tooved in boost its influence. we are asking what happens next as we have this backdrop of silver also entering this bull market worried -- market. how thestrategist says

world's top producer stands to benefit. we look at that, and we look at the market as we are seeing the momentum and equities continuing. "trending business" is back in two. ♪ .

♪ announcer: from our studios in new york city, this is "charlie rose." charlie: anderson cooper and gloria vanderbilt are here. they have a memoir that explores the relationship and the love and loss they have experienced. rainbow comes"the and goes." the collaboration is called frank and tender. there is a documentary on the same subject. here is a trailer from "nothing left unsaid."